# EDGAR Filing Document

**Accession Number:** 0001547361
**File Stem:** 0001999371-26-008573
**Filing Date:** 2026-4
**Character Count:** 779412
**Document Hash:** e7a91a872fc44fecc17d42b1e2ddc9ff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001999371-26-008573.hdr.sgml**: 20260420

**ACCESSION NUMBER**: 0001999371-26-008573

**CONFORMED SUBMISSION TYPE**: ABS-15G

**PUBLIC DOCUMENT COUNT**: 49

**CONFORMED PERIOD OF REPORT**: 20260420

**ITEM INFORMATION**: Findings and Conclusions of the Third Party Due Diligence Provider Obtained by the Issuer

**FILED AS OF DATE**: 20260420

**DATE AS OF CHANGE**: 20260420

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Residential mortgages - Other/Combined

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Morgan Stanley Capital I Inc.
- **CENTRAL INDEX KEY:** 0001547361
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 133291626
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-01951
- **FILM NUMBER:** 26875209

**BUSINESS ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 212-761-4000

**MAIL ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Morgan Stanley Capital I Inc.
- **CENTRAL INDEX KEY:** 0001547361
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 133291626
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act

**BUSINESS ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 212-761-4000

**MAIL ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

OMB Number: 3235-0675

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549<br>** 

<br> **FORM ABS-15G<br>ASSET-BACKED SECURITIZER<br> REPORT PURSUANT TO SECTION 15G OF<br> THE SECURITIES EXCHANGE ACT OF 1934**

**<u>MORGAN STANLEY CAPITAL I INC.</u>**

Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:

☐ Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period______________ to _________________

Date of Report (Date of filing) __________________

Commission File Number of securitizer: __________________

Central Index Key Number of securitizer:__________________

Name and telephone number, including area code, of the person<br> to contact in connection with this filing.

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(l) ☐

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) ☐

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) ☐

☒ Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)

Central Index Key Number of depositor: <u>0001547361</u> 

 <u>MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST 2026-DSC2</u> <br> (Exact name of issuing entity as specified in its charter)

Central Index Key Number of issuing entity (if applicable): <u>Not applicable</u>

Central Index Key Number of underwriter (if applicable): <u>Not applicable</u> 

Chris Scott, (212) 761-4940

Name and telephone number, including area code, of the person<br> to contact in connection with this filing.

**FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS**

**Item 2.01 Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer**

The disclosures required by Rule 15Ga-2 (17 CFR 240.15Ga-2) are attached as Exhibits to this Form ABS-15G. Please see the Exhibit Index for the related information.

**EXPLANATORY NOTE**

This Form ABS-15G is supplemented by the Form ABS-15G filed by Morgan Stanley Capital I Inc. on April 10, 2026 in connection with the MSRM 2026-NQM4 securitization transaction (Accession Number: 0001999371-26-008106) (the "Prior Filing"). Certain information with respect to the mortgage loans that will be included in the MSRM 2026-DSC2 securitization transaction was provided in the Prior Filing and such information solely with respect to these mortgage loans (the "Information") should be read in conjunction with this Form ABS-15G. Exhibit 99.8 identifies the mortgage loans that will be included in the MSRM 2026-DSC2 securitization transaction and Exhibit 99.9 provides a link to the Prior Filing containing the Information with respect to those mortgage loans. As of the date of this filing, only the mortgage loans listed in Exhibit 99.8 are anticipated to be included in the final population for the MSRM 2026-DSC2 securitization transaction. Any totals or percentages included in the Executive Summaries or Narrative Reports included in the Prior Filing reflect a broader population of mortgage loans, and not the final population for the MSRM 2026-DSC2 securitization transaction. Exhibit 99.7 is included in this filing to reflect that Exhibit 99.7 supersedes the information set forth under the section entitled "TAPE INTEGRITY REVIEW RESULTS SUMMARY", specifically the paragraph immediately below such section, the "Discrepancy Count" for the rows titled "Property Type" and "Grand Total" under the column titled "Fields Reviewed" and all of the percentages under the column titled "Percentage" set forth in Exhibit 99.5 of the Prior Filing.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

MORGAN STANLEY CAPITAL I INC.

Date: April 20, 2026

By: <u>/s/ Anthony Piperno</u> 

Name: Anthony Piperno

Title: Authorized Signatory

**EXHIBIT INDEX**

<u>Exhibit Number</u>

[99.1 Third Party Due Diligence Report - Ernst & Young LLP Report of Independent Accountants on Applying Agreed-Upon Procedures](ex99-1.htm)

[99.2 Third Party Due Diligence Report - AMC Diligence, LLC Executive Summary](ex99-2.htm)

[Schedule 1 - Exception Grades Report](ex99-2s1.htm)

[Schedule 2 - Rating Agency Grades Report](ex99-2s2.htm)

[Schedule 3 - Data Compare Report](ex99-2s3.htm)

[Schedule 4 - Valuation Summary Report](ex99-2s4.htm)

[Schedule 5 - Supplemental Report](ex99-2s5.htm)

[99.3 Third Party Due Diligence Report - Clarifii LLC Due Diligence Narrative Report](ex99-3.htm)

[Schedule 1 - Rating Agency Grades Detail Report](ex99-3s1.htm)

[Schedule 2 - Rating Agency Grades Summary Report](ex99-3s2.htm)

[Schedule 3 - Data Compare Report](ex99-3s3.htm)

[Schedule 4 - ATR QM Report](ex99-3s4.htm)

[Schedule 5 - Valuation Report](ex99-3s5.htm)

[99.4 Third Party Due Diligence Report - Clayton Services LLC Due Diligence Narrative Report](ex99-4.htm)

[Schedule 1 - Non ATR QM Upload Report](ex99-4s1.htm)

[Schedule 2 - Conditions Report](ex99-4s2.htm)

[Schedule 3 - Loan Level Tape Compare Report](ex99-4s3.htm)

[Schedule 4 - Rating Agency ATR QM Report](ex99-4s4.htm)

[Schedule 5 - Valuation Summary Report](ex99-4s5.htm)

[Schedule 6 - Waived Conditions Report](ex99-4s6.htm)

[99.5 Third Party Due Diligence Report - Digital Risk Narrative](ex99-5.htm)

[Schedule 1 - Data Integrity Report](ex99-5s1.htm)

[Schedule 2 - Rebuttal Findings Report](ex99-5s2.htm)

[Schedule 3 - Rating Agency Grades Report](ex99-5s3.htm)

[Schedule 4 - Valuation Report](ex99-5s4.htm)

[99.6 Third Party Due Diligence Report - Selene Diligence LLC Due Diligence Narrative Report](ex99-6.htm)

[Schedule 1 - Rating Agency Grades Summary Report](ex99-6s1.htm)

[Schedule 2 - Valuation Report](ex99-6s2.htm)

[Schedule 3 - Data Compare Report](ex99-6s3.htm)

[Schedule 4 - Standard Findings Report](ex99-6s4.htm)

[Schedule 5 - Supplemental Data Extract Report](ex99-6s5.htm)

[99.7 Third Party Due Diligence Report - Consolidated Analytics, Inc. Executive Summary](ex99-7.htm)

[99.8 Morgan Stanley Residential Mortgage Loan Trust 2026-DSC2 Loan List](ex99-8.htm)

[99.9 Link to Morgan Stanley Residential Mortgage Loan Trust 2026-NQM4 Filing](https://www.sec.gov/Archives/edgar/data/1547361/000199937126008106/msrm-abs15g.htm)

## Exhibit 99.1

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.1**

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|:---|:---|:---|
| ![](ey_001.jpg) | **Ernst & Young LLP**<br> One Manhattan West<br> New York, NY 10001 | Tel: +1 212 773 3000<br> ey.com |

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**Report of Independent Accountants on Applying Agreed-Upon Procedures**

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| | |
|:---|:---|
| Morgan Stanley Mortgage Capital Holdings LLC (the "Sponsor") | 20 April 2026 |
| Morgan Stanley Capital I Inc. (the "Depositor") |  |
| Morgan Stanley & Co. LLC (the "Initial Purchaser") |  |
| 1585 Broadway |  |
| New York, New York 10036 |  |

---

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| | |
|:---|:---|
| **Re:** | **Morgan Stanley Residential Mortgage Loan Trust 2026-DSC2 (the "Issuing Entity")** |
|  | **Mortgage Pass-Through Certificates, Series 2026-DSC2 (the "Certificates")** |
|  | **Sample Mortgage Loan Agreed-Upon Procedures** |

---

We have performed the procedures enumerated in Attachment A, which were agreed to and acknowledged as appropriate by the Sponsor, Depositor and Initial Purchaser (collectively, the "Specified Parties"), for the intended purpose of assisting the Specified Parties in evaluating the accuracy of certain information with respect to a pool of mortgage loans (the "Mortgage Loans") relating to the Issuing Entity's securitization transaction. This report may not be suitable for any other purpose. The procedures performed may not address all of the items of interest to a user of the report and may not meet the needs of all users of the report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The appropriateness of these procedures is solely the responsibility of the Specified Parties identified in this report. No other party acknowledged the appropriateness of the procedures. Consequently, we make no representation regarding the appropriateness of the procedures described in Attachment A, either for the purpose for which this report has been requested or for any other purpose.

The procedures performed and our associated findings are included in Attachment A.

For the purpose of the procedures described in this report, the Initial Purchaser, on behalf of the Depositor, provided us with:

a. Electronic data files (collectively, the "Provided
Data Files"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Labeled "MSRM 2026-DSC2 NQM4 Combined Prelim Population
3.31.xlsx" (the "Loan Listing Data File"), that the Initial Purchaser, on behalf of the Depositor, indicated contains
a list of identification numbers (each, an "Investor Loan ID") relating to certain mortgage loans (the "Base Preliminary
Mortgage Loans"), certain of which are expected to be representative of the Mortgage Loans and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Labeled "MSRM_2026_NQM4_DSC2_EY_Tape.xlsx"
and the corresponding record layout and decode information, as applicable (the "Preliminary Data File"), that the Initial
Purchaser, on behalf of the Depositor, indicated contains information as of 1 April 2026 (the "Cut-off Date")
relating to certain mortgage loans (the "Preliminary Mortgage Loans"), certain of which are expected to be representative
of the Mortgage Loans,

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|:---|:---|
| ![](ey_001.jpg) | Page 2 of 3 |

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b. Imaged copies of the following items (collectively, the
"Source Documents"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Promissory note or loan agreement (collectively and as
applicable, the "Note"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Credit report (the "Credit Report"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Loan application, occupancy affidavit, warranty deed, assignment
of leases and rents and/or commercial loan application (collectively and as applicable, the "Application"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. Underwriting summary, summary of findings, loan product
advisor feedback certificate and/or conditional underwriting approval (collectively and as applicable, the "Underwriting Summary"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. Appraisal report or appraisal risk review (the "Appraisal"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi. Fraud report (the "Fraud Report"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vii. Contract for the sale and purchase of real estate, assignment
of purchase contract interest and/or sale escrow instructions (collectively and as applicable, the "Sale Contract"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;viii. Settlement statement or closing disclosure (collectively
and as applicable, the "Settlement Statement") and

ix. Reconciliation addendum (the "Reconciliation Addendum") <br> that the Initial Purchaser, on behalf of the Depositor, indicated relate to the Sample Mortgage Loans (as defined in Attachment A),

c. The list of relevant characteristics (the "Sample Characteristics")
on the Preliminary Data File, which is shown on Exhibit 1 to Attachment A, and

d. Instructions, assumptions and methodologies, which are
described in Attachment A.

For the purpose of the procedures described in this report, certain information on the Preliminary Data File is the "Subject Matter" as of the date of this report.

The procedures included in Attachment A were limited to comparing or recalculating certain information that is further described in Attachment A. The Depositor is responsible for the Subject Matter, Provided Data Files, Source Documents, Sample Characteristics and the determination of the instructions, assumptions and methodologies that are described herein. We were not requested to perform, and we have not performed, any procedures other than those listed in Attachment A. We have not verified, and we make no representation as to, the accuracy, completeness or reasonableness of the Loan Listing Data File, Source Documents or any other information provided to us, or that we were instructed to obtain, as applicable, by the Initial Purchaser, on behalf of the Depositor, upon which we relied in forming our findings. Accordingly, we make no representation and express no opinion or conclusion as to (a) the existence of the Base Preliminary Mortgage Loans, Preliminary Mortgage Loans or Mortgage Loans, (b) questions of legal or tax interpretation or (c) the appropriateness, accuracy, completeness or reasonableness of any instructions, assumptions and methodologies provided to us by the Initial Purchaser, on behalf of the Depositor, that are described in this report. We undertake no responsibility to update this report for events and circumstances occurring after the date hereof.

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|:---|:---|
| ![](ey_001.jpg) | Page 3 of 3 |

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This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants (the "AICPA"). An agreed-upon procedures engagement involves the practitioner performing specific procedures that the Specified Parties have agreed to and acknowledged to be appropriate for the purpose of the engagement and reporting on findings based on the procedures performed. We were not engaged to, and did not, conduct an examination to express an opinion or a review to express a conclusion in accordance with attestation standards established by the AICPA on any of the items referred to herein. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

The agreed-upon procedures described in this report were not performed for the purpose of:

a. Satisfying any criteria for due diligence
published by a nationally recognized statistical rating organization (a "rating agency") or

b. Making any findings with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Whether the origination of the Mortgage
Loans conformed to, or deviated from, stated underwriting or credit extension guidelines, standards, criteria, or other requirements,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. The value of the collateral securing the
Mortgage Loans,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Whether the originator(s) of the Mortgage
Loans complied with federal, state or local laws or regulations or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. Any other factor or characteristic of
the Mortgage Loans that would be material to the likelihood that the issuer of the Certificates will pay interest and principal in accordance
with applicable terms and conditions.

We are required to be independent of the Depositor and to meet our other ethical responsibilities, as applicable, for agreed-upon procedures engagements set forth in the Preface: Applicable to All Members and Part 1 – Members in Public Practice of the Code of Professional Conduct established by the AICPA. Independence requirements for agreed-upon procedures engagements are less restrictive than independence requirements for audit and other attestation services.

This report is intended solely for the information and use of the Specified Parties and is not intended to be, and should not be, used by anyone other than the Specified Parties. It is not intended to be, and should not be, used by any other person or entity, including investors and rating agencies, who are not identified in the report as Specified Parties but who may have access to this report as required by law or regulation.

---

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|:---|
| /s/ Ernst & Young LLP |
| 20 April 2026 |

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|:---|:---|
| ![](ey_001.jpg) | **Amendment A** |

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**<u>Procedures performed and our associated findings</u>**

1. As instructed by the Initial Purchaser,
on behalf of the Depositor, we randomly selected a sample of 562 Base Preliminary Mortgage Loans from the Loan Listing Data File
(the "Base Sample Mortgage Loans"). For the purpose of this procedure, the Initial Purchaser, on behalf of the Depositor,
did not inform us as to the basis for how they determined the number of Base Sample Mortgage Loans or the methodology they instructed
us to use to select the Base Sample Mortgage Loans from the Loan Listing Data File.

For the purpose of the procedures described in this report, the 562 Base Sample Mortgage Loans are referred to as Sample Mortgage Loan Numbers 1 through 562.

2. For each mortgage loan on the Loan Listing Data File and
Preliminary Data File, we compared the Investor Loan ID, as shown on the Loan Listing Data File, to the corresponding Loan Number, as
shown on the Preliminary Data File, and noted that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All of the Preliminary Mortgage Loans were included on both the Preliminary
Data File and Loan Listing Data File and

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| | |
|:---|:---|
| b. | 66 of the Base Preliminary Mortgage Loans included on the Loan Listing Data File were not included on the Preliminary Data File, 17 of which were Base Sample Mortgage Loans, identified as Sample Mortgage Loan Numbers 40, 41, 112, 114, 116, 141, 142, 143, 200, 212, 298, 319, 373, 381, 394, 432 and 548. |
| The 545 Base Sample Mortgage Loans included on the Preliminary Data File are hereinafter referred to as the "Base Sample 1 Mortgage Loans." | The 545 Base Sample Mortgage Loans included on the Preliminary Data File are hereinafter referred to as the "Base Sample 1 Mortgage Loans." |

---

3. As instructed by the Initial Purchaser, on behalf of the
Depositor, we identified 282 Base Sample 1 Mortgage Loans on the Preliminary Data File (the "Sample Mortgage Loans") that
have a deal of "DSC2," as shown on the Loan Listing Data File.

4. For each Sample Mortgage Loan, we compared the Sample Characteristics
listed on Exhibit 1 to Attachment A, as shown on the Preliminary Data File, to the corresponding information located in, or
to the corresponding information we recalculated using information located in, the Source Documents or Preliminary Data File, as applicable,
subject to the instructions, assumptions and methodologies provided by the Initial Purchaser, on behalf of the Depositor, described in
the notes to Exhibit 1 to Attachment A. The Source Document(s) that we were instructed by the Initial Purchaser, on behalf of
the Depositor, to use for each Sample Characteristic are shown on Exhibit 1 to Attachment A. Except for the information shown
on Exhibit 2 to Attachment A, all such compared information was found to be in agreement.

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|:---|
| **Exhibit 1 to Attachment A** |
| Page 1 of 7 |

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**<u>Sample Characteristics and Source Documents</u>**

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**<u>Sample Characteristic</u>** | &nbsp;&nbsp;**Preliminary<br> <u>Data File Field Name</u>** | &nbsp;&nbsp;**<u>Source Document(s)</u>** |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Loan number | &nbsp;&nbsp;Loan Number | &nbsp;&nbsp;Note |
| &nbsp;&nbsp;Original principal balance | &nbsp;&nbsp;Original Principal Balance | &nbsp;&nbsp;Note |
| &nbsp;&nbsp;Original interest rate | &nbsp;&nbsp;Original Interest Rate | &nbsp;&nbsp;Note |
| &nbsp;&nbsp;First payment date | &nbsp;&nbsp;First Payment Date | &nbsp;&nbsp;Note |
| &nbsp;&nbsp;Maturity date | &nbsp;&nbsp;Maturity Date | &nbsp;&nbsp;Note |
| &nbsp;&nbsp;Property state | &nbsp;&nbsp;Property State | &nbsp;&nbsp;Note |
| &nbsp;&nbsp;Property zip code | &nbsp;&nbsp;Property Zip Code | &nbsp;&nbsp;Note |
| &nbsp;&nbsp;Original term | &nbsp;&nbsp;Original Term | &nbsp;&nbsp; (a) Note or<br> (b) Note and recalculation |
| &nbsp;&nbsp;Original interest only term | &nbsp;&nbsp;Original Interest Only Term | &nbsp;&nbsp; (a) Note or<br> (b) Note and recalculation |
| &nbsp;&nbsp;Prepayment charge term | &nbsp;&nbsp;Prepayment Charge Term | &nbsp;&nbsp;Note |
| &nbsp;&nbsp;Occupancy status | &nbsp;&nbsp;Occupancy Status | &nbsp;&nbsp;Application or Underwriting Summary |
| &nbsp;&nbsp;Appraisal value | &nbsp;&nbsp;Appraisal Value | &nbsp;&nbsp; (a) Reconciliation Addendum,<br> (b) Appraisal or<br> (c) Appraisal and recalculation |
| &nbsp;&nbsp;Property type | &nbsp;&nbsp;Property Type | &nbsp;&nbsp;Appraisal or Underwriting Summary |
| &nbsp;&nbsp;Sale price | &nbsp;&nbsp;Sale Price | &nbsp;&nbsp; (a) Sale Contract or Settlement Statement or<br> (b) Settlement Statement and recalculation |
| &nbsp;&nbsp;Loan purpose | &nbsp;&nbsp;Loan Purpose | &nbsp;&nbsp;Application, Fraud Report, Credit Report or recalculation |
| &nbsp;&nbsp;Junior lien balance | &nbsp;&nbsp;Junior Lien Balance | &nbsp;&nbsp;Underwriting Summary, Application, Settlement Statement or Credit Report |

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|:---|
| **Exhibit 1 to Attachment A** |
| Page 2 of 7 |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**<u>Sample Characteristic</u>** | &nbsp;&nbsp;**Preliminary<br> <u>Data File Field Name</u>** | &nbsp;&nbsp;**<u>Source Document(s)</u>** |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Index description | &nbsp;&nbsp;Index Description | &nbsp;&nbsp;Note |
| &nbsp;&nbsp;Gross margin | &nbsp;&nbsp;Gross Margin | &nbsp;&nbsp;Note |
| &nbsp;&nbsp;Initial fixed rate period | &nbsp;&nbsp;Initial Fixed Rate Period | &nbsp;&nbsp; (a) Note or<br> (b) Note and recalculation |
| &nbsp;&nbsp;Subsequent interest rate reset period | &nbsp;&nbsp;Subsequent Interest Rate Reset Period | &nbsp;&nbsp;Note |
| &nbsp;&nbsp;Initial interest rate cap change up | &nbsp;&nbsp;Initial Interest Rate Cap Change Up | &nbsp;&nbsp; (a) Note or<br> (b) Note and recalculation |
| &nbsp;&nbsp;Initial interest rate cap change down | &nbsp;&nbsp;Initial Interest Rate Cap Change Down | &nbsp;&nbsp; (a) Note or<br> (b) Note and recalculation |
| &nbsp;&nbsp;Subsequent interest rate change up | &nbsp;&nbsp;Subsequent Interest Rate Change Up | &nbsp;&nbsp;Note |
| &nbsp;&nbsp;Subsequent interest rate change down | &nbsp;&nbsp;Subsequent Interest Rate Change Down | &nbsp;&nbsp;Note |
| &nbsp;&nbsp;Maximum interest rate | &nbsp;&nbsp;Maximum Interest Rate | &nbsp;&nbsp;Note |
| &nbsp;&nbsp;Minimum interest rate | &nbsp;&nbsp;Minimum Interest Rate | &nbsp;&nbsp;Note or Settlement Statement |
| &nbsp;&nbsp;Original loan-to-value ratio | &nbsp;&nbsp;Original LTV | &nbsp;&nbsp;Recalculation |
| &nbsp;&nbsp;Combined loan-to-value ratio | &nbsp;&nbsp;Original Combined LTV | &nbsp;&nbsp;Recalculation |

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|:---|
| **Exhibit 1 to Attachment A** |
| Page 3 of 7 |

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**<u>Notes</u>:**

i. The loan number Sample
Characteristic is for identification purposes only.

ii. For the purpose of comparing
the property zip code Sample Characteristic for any Sample Mortgage Loan that has multiple properties, as stated in the Note, the Initial
Purchaser, on behalf of the Depositor, instructed us to note agreement with a value of "BM," as shown on the Preliminary
Data File.

iii. For the purpose of comparing
the original term Sample Characteristic for any Sample Mortgage Loan that does not have the original term specifically stated in the Note,
the Initial Purchaser, on behalf of the Depositor, instructed us to use the sum of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The difference in months
between the maturity date and first payment date, both as shown in the Note, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 1.

iv. For the purpose of comparing
the original interest only term Sample Characteristic for any Sample Mortgage Loan that does not have the original interest only term
specifically stated in the Note, the Initial Purchaser, on behalf of the Depositor, instructed us to use the sum of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The difference in months
between the interest only end date and first payment date, both as shown in the Note, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 1.

v. For the purpose of comparing
any Sample Characteristic listing the Application as a Source Document for any Sample Mortgage Loan for which the Initial Purchaser, on
behalf of the Depositor, provided more than one Application, the Initial Purchaser, on behalf of the Depositor, instructed us to use the
most recent Application as the Source Document.

vi. For the purpose of comparing
the occupancy status Sample Characteristic, the Initial Purchaser, on behalf of the Depositor, instructed us to note agreement if the
value on the Preliminary Data File agreed with the corresponding information in at least one of the Source Documents listed for such Sample
Characteristic. We performed no procedures to reconcile any differences that may exist relating to the information in the Source Documents
relating to the occupancy status Sample Characteristic.

vii. For the purpose of comparing
any Sample Characteristic listing the Appraisal as a Source Document for any Sample Mortgage Loan for which the Initial Purchaser, on
behalf of the Depositor, provided more than one Appraisal (except for Sample Mortgage Loan Numbers 82 and 169), the Initial Purchaser,
on behalf of the Depositor, instructed us to use the Appraisal with the lowest appraisal value as the Source Document.

For the purpose of comparing the appraisal value Sample Characteristic for Sample Mortgage Loan Number 82, the Initial Purchaser, on behalf of the Depositor, instructed us to use the Appraisal with the earliest appraisal date as the Source Document.

For the purpose of comparing the appraisal value Sample Characteristic for Sample Mortgage Loan Number 169, the Initial Purchaser, on behalf of the Depositor, instructed us to use the Reconciliation Addendum as the Source Document.

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| |
|:---|
| **Exhibit 1 to Attachment A** |
| Page 4 of 7 |

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viii. For the purpose of comparing
the appraisal value Sample Characteristic for any Sample Mortgage Loan for which the Initial Purchaser, on behalf of the Depositor, provided
an Appraisal for each mortgaged property relating to such Sample Mortgage Loan, the Initial Purchaser, on behalf of the Depositor, instructed
us to use the sum of the appraisal values for the related mortgaged properties, as shown in the corresponding Appraisals.

ix. For the purpose of comparing
the property type Sample Characteristic, the Initial Purchaser, on behalf of the Depositor, instructed us to note agreement if the value
on the Preliminary Data File agreed with the corresponding information in at least one of the Source Documents listed for such Sample
Characteristic. We performed no procedures to reconcile any differences that may exist relating to the information in the Source Documents
relating to the property type Sample Characteristic.

For the purpose of comparing the property type Sample Characteristic, the Initial Purchaser, on behalf of the Depositor, instructed us to note agreement with a property type of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "Townhouse"
if the design (style) is "Twnhse," "Townhouse," "TownHm" or "TownHome,"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "Townhouse"
if the type is "S-Det./End Unit" and the Appraisal indicates that HOA dues are required,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "1 Family
Attached" if the type is "S-Det./End Unit" and the design (style) is "Row," "Duplex," "Semi-Det,"
"COL," "Semi," "MillHse," "Ranch," "Row House," "Twin," "SD2;Colonial-ED"
or "Raised Beach" or

(d) "1 Family Attached" if the design (style) is "Townhouse" and the Appraisal indicates that no HOA dues are required, <br> as shown in the applicable Source Document.

x. For the purpose of comparing
any Sample Characteristic listing the Settlement Statement as a Source Document for any Sample Mortgage Loan for which the Initial Purchaser,
on behalf of the Depositor, provided more than one Settlement Statement, the Initial Purchaser, on behalf of the Depositor, instructed
us to use the most recent Settlement Statement as the Source Document.

xi. For the purpose of comparing
the sale price Sample Characteristic (except for Sample Mortgage Loan Number 145), the Initial Purchaser, on behalf of the Depositor,
instructed us to note agreement if the value on the Preliminary Data File agreed with the corresponding information in at least one of
the Source Documents listed for such Sample Characteristic. We performed no procedures to reconcile any differences that may exist relating
to the information in the Source Documents relating to the sale price Sample Characteristic.

For the purpose of comparing the sale price Sample Characteristic for Sample Mortgage Loan Number 145, the Initial Purchaser, on behalf of the Depositor, instructed us to use the sum of the sale price and assignment fee, both as shown in the Settlement Statement.

---

| |
|:---|
| **Exhibit 1 to Attachment A** |
| Page 5 of 7 |

---

xii. For the purpose of comparing
the loan purpose Sample Characteristic for any Sample Mortgage Loan with a loan purpose of "First Time Home Purchase" or "Other-than-first-time
Home Purchase," as shown on the Preliminary Data File (each, a "Purchase Sample Mortgage Loan"), the Initial Purchaser,
on behalf of the Depositor, instructed us to note agreement if the value on the Preliminary Data File agreed with the corresponding information
in at least one of the Source Documents listed for such Sample Characteristic. We performed no procedures to reconcile any differences
that may exist relating to the information in the Source Documents relating to the loan purpose Sample Characteristic for any Purchase
Sample Mortgage Loan.

For any remaining Sample Mortgage Loan (each, a "Refinanced Sample Mortgage Loan"), the Initial Purchaser, on behalf of the Depositor, instructed us to calculate the "Amount to Borrower" as the difference between the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Original principal balance,
as shown in the Note, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Sum of the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Unpaid principal balance
of any previous mortgage loan that is being refinanced, as shown in the Settlement Statement, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Total closing costs
relating to the Refinanced Sample Mortgage Loan, as shown in the Settlement Statement.

For any Refinanced Sample Mortgage Loan (except for Sample Mortgage Loan Numbers 155 and 198), the Initial Purchaser, on behalf of the Depositor, instructed us to note agreement with a loan purpose of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "Refinance –
Cash Out" if the Amount to Borrower is greater than the lesser of (i) $2,000 and (ii) 1% of the original
principal balance, as shown in the Note, or

---

| | |
|:---|:---|
| (b) | "Refinance – Rate Term" for each remaining Refinanced Sample Mortgage Loan. |
| For Sample Mortgage Loan Number 155, the Initial Purchaser, on behalf of the Depositor, instructed us to note agreement with a loan purpose of "Limited Cash-Out," as shown on the Preliminary Data File. | For Sample Mortgage Loan Number 155, the Initial Purchaser, on behalf of the Depositor, instructed us to note agreement with a loan purpose of "Limited Cash-Out," as shown on the Preliminary Data File. |
| For Sample Mortgage Loan Number 198, the Initial Purchaser, on behalf of the Depositor, instructed us to note agreement with a loan purpose of "Refinance – Rate Term" if the Amount to Borrower is less than the lesser of (i) $5,000 and (ii) 5% of the original principal balance, as shown in the Note. | For Sample Mortgage Loan Number 198, the Initial Purchaser, on behalf of the Depositor, instructed us to note agreement with a loan purpose of "Refinance – Rate Term" if the Amount to Borrower is less than the lesser of (i) $5,000 and (ii) 5% of the original principal balance, as shown in the Note. |

---

xiii. For the purpose of comparing the junior
lien balance Sample Characteristic, the Initial Purchaser, on behalf of the Depositor, instructed us to note agreement if the value on
the Preliminary Data File agreed with the corresponding information in at least one of the Source Documents listed for such Sample Characteristic.
We performed no procedures to reconcile any differences that may exist relating to the information in the Source Documents relating to
the junior lien balance Sample Characteristic.

---

| |
|:---|
| **Exhibit 1 to Attachment A** |
| Page 6 of 7 |

---

xiv. The Initial Purchaser, on behalf of the Depositor,
instructed us not to perform any procedures with respect to the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Index description,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Gross margin,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Initial fixed rate period,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Subsequent interest rate reset period,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Initial interest rate cap change up,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Initial interest rate cap change down,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Subsequent interest rate change up,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Subsequent interest rate change down,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Maximum interest rate and

---

| | |
|:---|:---|
| (j) | Minimum interest rate |
| Sample Characteristics for any Sample Mortgage Loan with a gross margin value of "0.000(%)" or , as shown on the Preliminary Data File. | Sample Characteristics for any Sample Mortgage Loan with a gross margin value of "0.000(%)" or , as shown on the Preliminary Data File. |

---

xv. For the purpose of comparing the initial fixed
rate period Sample Characteristic for any Sample Mortgage Loan with a gross margin value that is not equal to and is greater
than "0.000(%)," as shown in the Note (each, an "ARM Sample Mortgage Loan"), that does not have the initial fixed
rate period specifically stated in the Note, the Initial Purchaser, on behalf of the Depositor, instructed us to use the sum of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The difference in months between the first
rate change date and first payment date, both as shown in the Note, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 1.

xvi. For the purpose of comparing the initial interest
rate cap change up Sample Characteristic for any ARM Sample Mortgage Loan that does not have the initial interest rate cap change up specifically
stated in the Note, the Initial Purchaser, on behalf of the Depositor, instructed us to use the difference between the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Initial rate adjustment maximum interest rate
and

(b) Original interest rate, <br> both as shown in the Note.

xvii. For the purpose of comparing the initial interest
rate cap change down Sample Characteristic for any ARM Sample Mortgage Loan that does not have the initial interest rate cap change down
specifically stated in the Note, the Initial Purchaser, on behalf of the Depositor, instructed us to use the maximum of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The difference between the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Original interest rate and

(2) Initial rate adjustment minimum interest rate, <br> both as shown in the Note, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 0.000(%).

---

| |
|:---|
| **Exhibit 1 to Attachment A** |
| Page 7 of 7 |

---

xviii. For the purpose of comparing
the minimum interest rate Sample Characteristic for any ARM Sample Mortgage Loan that does not have the minimum interest rate specifically
stated in the Note or Settlement Statement, the Initial Purchaser, on behalf of the Depositor, instructed us to use the gross margin,
as shown in the Note, as the minimum interest rate.

xix. The Initial Purchaser,
on behalf of the Depositor, instructed us to use:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) For any Purchase Sample
Mortgage Loan, the lesser of the (1) appraisal value, as shown in the Appraisal, and (2) sale price, as shown in the Sale Contract or
Settlement Statement,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For any Refinanced Sample
Mortgage Loan (except for Sample Mortgage Loan Numbers 82 and 154), the appraisal value, as shown in the Appraisal,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) For Sample Mortgage
Loan Number 82, the lowest appraisal value, as shown in the Appraisals, or

(d) For Sample Mortgage Loan Number 154, the review value, as shown in the Appraisal, <br> as the "Value for LTV."

xx. For the purpose of comparing
the original loan-to-value ratio Sample Characteristic, the Initial Purchaser, on behalf of the Depositor, instructed us to use the quotient
(rounded to the fourth decimal place (X.XXXX)) of the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Original principal balance,
as shown in the Note, divided by

(b) Value
 for LTV.

xxi. For the purpose of comparing
the combined loan-to-value ratio Sample Characteristic, the Initial Purchaser, on behalf of the Depositor, instructed us to use the quotient
(rounded to the fourth decimal place (X.XXXX)) of the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Sum of the original
principal balance, as shown in the Note, and junior lien balance, as shown in the applicable Source Document(s), divided by

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Value for LTV.

xxii. For the purpose of comparing
the original loan-to-value ratio and combined loan-to-value ratio Sample Characteristics, the Initial Purchaser, on behalf of the Depositor,
instructed us to ignore differences of +/- 0.0001 or less.

We performed no procedures to determine the accuracy, completeness or reasonableness of the instructions, assumptions and methodologies provided by the Initial Purchaser, on behalf of the Depositor, that are described in the notes above.

**Exhibit 2 to Attachment A**

**<u>Sample Characteristic Differences</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Sample Mortgage <br> <u>Loan</u> <u>Number</u>** | &nbsp;&nbsp;**<u>Sample Characteristic</u>** | &nbsp;&nbsp;**<u>Preliminary Data File Value</u>** | &nbsp;&nbsp;**<u>Source Document Value</u>** |
| &nbsp;&nbsp;95 | &nbsp;&nbsp;Property type | &nbsp;&nbsp;Single Family Detached (non-PUD) | &nbsp;&nbsp;1 Family Attached |
| &nbsp;&nbsp;97 | &nbsp;&nbsp;Property type | &nbsp;&nbsp;Single Family Detached (non-PUD) | &nbsp;&nbsp;1 Family Attached |
| &nbsp;&nbsp;102 | &nbsp;&nbsp;Initial interest rate cap change down | &nbsp;&nbsp;1.000 | &nbsp;&nbsp;0.000 |
|  | &nbsp;&nbsp;Subsequent interest rate change down | &nbsp;&nbsp;2.000 | &nbsp;&nbsp;1.000 |
| &nbsp;&nbsp;122 | &nbsp;&nbsp;Property type | &nbsp;&nbsp;2 Family | &nbsp;&nbsp;Single Family Detached (non-PUD) |
| &nbsp;&nbsp;150 | &nbsp;&nbsp;Sale price | &nbsp;&nbsp;[Redacted] | &nbsp;&nbsp;[Redacted] |
|  | &nbsp;&nbsp;Original loan-to-value ratio | &nbsp;&nbsp;0.4286 | &nbsp;&nbsp;0.4324 |
|  | &nbsp;&nbsp;Combined loan-to-value ratio | &nbsp;&nbsp;0.4286 | &nbsp;&nbsp;0.4324 |
| &nbsp;&nbsp;168 | &nbsp;&nbsp;Initial interest rate cap change down | &nbsp;&nbsp;1.000 | &nbsp;&nbsp;0.000 |
|  | &nbsp;&nbsp;Subsequent interest rate change down | &nbsp;&nbsp;2.000 | &nbsp;&nbsp;1.000 |
| &nbsp;&nbsp;215 | &nbsp;&nbsp;Initial interest rate cap change down | &nbsp;&nbsp;1.000 | &nbsp;&nbsp;0.000 |

---

## Exhibit 99.2

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.2**

![](ex992001.jpg)

**EXECUTIVE SUMMARY**

**DESCRIPTION OF SERVICES** 

**(1) Type of assets that were reviewed.**

AMC Diligence, LLC ("AMC") performed the due diligence services described below (the "Review") on residential mortgage loans originated by multiple correspondent lenders and acquired from various parties by Morgan Stanley Mortgage Capital Holdings LLC and/or one of its affiliates (the "Client"). AMC performed the Review either (i) directly for Client on mortgage loan files provided by Client to AMC, or (ii) for third parties on mortgage loan files provided by such parties to AMC with results of such Review conveyed to the Client via Reliance Letter. The Review (including the Review related to Reliance Letter loans) was conducted in April 2026 on mortgage loans with origination dates from December 2025 through January 2026. The Review included loans reviewed under the Leases Review Scope (6 loans).

**(2) Sample size of the assets reviewed.**

The Review was conducted on six (6) mortgage loans with an aggregate original principal balance of approximately $1.209 million.

**(3) Determination of the sample size and computation.**

AMC is not aware of the overall sample size for the securitization as the Review only covered the portion of the loans in the securitization reviewed by AMC.

**(4) Quality or integrity of information or data about the assets: review and methodology.**

AMC compared data fields on the bid tape provided by Client to the data found in the actual file as captured by AMC. This comparison, when data was available, included the following data fields:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Appraised Value | &nbsp;&nbsp;Original Loan Amount | &nbsp;&nbsp;Street |
| &nbsp;&nbsp;Borrower Last Name | &nbsp;&nbsp;Original LTV | &nbsp;&nbsp;Subject Debt Service Coverage Ratio |
| &nbsp;&nbsp;City | &nbsp;&nbsp;Property Type | &nbsp;&nbsp;Zip |
| &nbsp;&nbsp;Note Date | &nbsp;&nbsp;Representative FICO |  |
| &nbsp;&nbsp;Occupancy | &nbsp;&nbsp;State |  |

---

Additionally, AMC verified (i) listed borrowers signed documents requiring signature, (ii) borrowers signing documents were eighteen (18) years or older at the time of the mortgage loan origination, (iii) that all riders required by the terms of the mortgage and mortgage note were attached to the respective document, (iv) that social security numbers across documents were consistent, and (v) debt-to-income ratio ("DTI(s)"), and/or loan-to-value ratios ("LTV(s)") used in the assessment of conformity guidelines.

**(5) Origination of the assets and conformity to stated underwriting or credit extension guidelines, standards, criteria or other requirements: review and methodology.**

**<u>LEASES REVIEW (6 Loans)</u>**

**<u>DOCUMENT REVIEW</u>**

For each Loan, AMC will review the Loan File and verify whether the following documents, if applicable, are included in the file and if the data on these documents is consistent and logical: (a) initial application (1003), (b) credit report, (c) employment documentation, (d) asset documentation, (e) sales contract, (f) hazard and/or flood insurance policies, (g) appraisal, (h) title/preliminary title, (i) mortgage/deed of trust, (j) note, (k) certificate of business purpose / non-owner occupancy, (l) articles of incorporation, if applicable, (m) operating agreement, and (n) background check.

**<u>CREDIT REVIEW</u>**

The credit review focuses on the borrower's experience in property management, credit profile and adherence to guidelines. The borrower's assets are analyzed to determine there are sufficient funds for the required equity in the project. Conformity to applicable guidelines will all be assessed during the review. An income calculation will not be performed though the presence of income documentation if required by the guidelines will be noted.

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![](ex992001.jpg)

**Credit Application:** For the Credit Application, AMC will verify whether (a) the application is signed by all listed borrowers, (b) the application is substantially filled out, (c) all known borrower-owned properties are disclosed on the Real Estate Owned section or attachments, and (d) borrower's property management/landlord experience.

**Credit Report:** AMC will verify (a) a credit report is present for each borrower, (b) note and research the Real Estate Owned and fraud alerts, (c) and gather data including (i) representative FICO, (ii) scores from Equifax, Experian, and Transunion (if available), (iii) verify that the public records listed are disclosed on the application and adequately explained and in compliance with guidelines, and (iv) the number and length of trade lines.

**Employment and Income:** AMC will determine whether applicable supporting employment and income documentation required by the guidelines, was present in the mortgage loan file and where possible, wasn't fraudulent.

**Borrowing Entity:** AMC will verify the borrowing entity, if not an individual, is properly documented. In addition, AMC will verify if the business entity is a US or foreign entity and if the individual signing the loan documentation has the appropriate authority. Distinction will be made between guarantors and principals, individuals and business entities.

**Property income:** AMC will determine whether all applicable supporting documentation as required by the guidelines is present in the file. No traditional borrower DTI ratios will be calculated but instead a "Property DTI" will be calculated per guidelines using the lease or expected lease amount and the property expenses. Documentation verifying property income may include: (a) leases and monthly rental income, (b) property vacancy, (c) balance sheets / financial statements, and (d) an appraisal analysis of market rents.

**Asset Review:** AMC will assess whether the asset documentation required by the guidelines is present in the file. AMC will verify that assets presented support the required reserves. Documentation reviewed may include: (a) depository account statements, (b) stock or security account statements, (c) settlement statements or other evidence of conveyance and transfer of funds if a sale of assets was involved, and (d) operating accounts from other properties.

**Insurance:** AMC will (a) look for the presence of rent loss insurance as required by the guidelines, (b) verify that hazard insurance meets the minimum required amount of coverage in the guidelines, (c) confirm that the flood cert is for the correct borrower, property, lender and loan number, and (d) for properties in a flood zone per the flood cert, confirm that flood insurance meets guideline requirements in the file and meets the minimum required amount of coverage.

**Title:** AMC will verify whether the appropriate vestee is on the title document: if a purchase, the seller; if a refinance, the borrower. AMC will also review the Title Commitment for the disclosure issues such as assessments; covenants, conditions and restrictions); access problems; vicinity of property to military airports; prior leases; court orders/divorce decrees; public probate issues; foreclosures; bankruptcies; judgment liens; state and federal tax liens; and environmental liens. Review for instances of delinquent taxes (non-liens). In addition, AMC will review for Oil, Gas, Water or Mineral rights.

**Fraud / Criminal Background:** To the extent potentially fraudulent activity is identified as part of the document review, such information will be reported to Client. In addition, AMC will look for an independent, third party fraud report and background check in each file and will review the results of the fraud report in conjunction with source documents found in the file to assess the likelihood of any misrepresentations associated with the origination of the loan.

**(6) Value of collateral securing the assets: review and methodology.**

AMC's review included a review of the valuation materials utilized during the origination of the loan and in confirming the value of the underlying property. AMC's review included verifying the appraisal report was (i) on the appropriate GSE form, (ii) materially complete, (iii) in conformity with the guideline requirements for the property type in question, (iv) completed by an appraiser that was actively licensed to perform the valuation, (v) completed such that the named client on the appraisal report is the lender or a related entity that is permitted to engage the lender per Title XI of FIRREA, (vi) made and signed prior to the final approval of the mortgage loan application, (vii) completed and dated within the guidelines restrictions, (vii) made on an "as is" basis or provides satisfactory evidence of completion of all material conditions including all inspections, licenses, and certificates (including certificates of occupancy) to be made or issued with respect to all occupied portions of the mortgaged property and with respect to the use and occupancy of the same, have been made or obtained from the appropriate authorities.

With regard to the use of comparable properties, AMC's review (i) captured the relative comparable data (gross and net adjustments, sale dates and distance from subject property) and ensured that such comparable properties are within standard appraisal guidelines; (ii) confirmed the property value and square footage of the subject property was bracketed by comparable properties, (iii) verified that comparable properties used are similar in size, style, and location to the subject, and (iv) checked for the reasonableness of adjustments when reconciling value between the subject property and comparable properties.

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Other aspects of AMC's review included (i) verifying that the address matched the mortgage note, (ii) verifying that the appraisal and the policies and procedures with regard to appraisal, including the appropriate level of review, when originating the mortgage loan, were followed, (iii) noting whether the property zip code was declared a FEMA disaster area after the valuation date and notifying Client of same, (iv) confirming the appraisal report does not include any apparent environmental problems, (v) confirming the appraisal notes the current use of the property is legal or legal non-conforming (grandfathered), (vi) reviewing pictures to ensure (a) that the property is in average or better condition and any repairs are noted where required and (b) that the subject property is the one for which the valuation was ordered and that there are no negative external factors; and (vii) confirming that the value product that was used as part of the origination decision was directly accessible to AMC or if it was not directly accessible that another valuation product that was directly accessible to AMC was ordered in accordance with the Client's specific valuation waterfall process.

If more than one valuation was provided, AMC confirmed consistency among the valuation products and if there were discrepancies that could not be resolved, AMC created an exception and worked with the client on the next steps which may include the ordering of additional valuation products such as collateral desktop analyses, broker's price opinions, and full appraisals. If the property valuation products included in AMC's review resulted in a variance of more than 10% then the client was notified of such variance and a second independent valuation product was ordered.

AMC also considered processes that included Fannie Mae's Collateral Underwriter (CU) or Freddie Mac Loan Collateral Advisor (LCA) on one-unit single-family homes and condos for GSE eligible loans. No additional property value due diligence was completed in cases where CU/LCA indicated that appraisal risk was consistent with the respective GSE's day one RW&E relief. Freddie Mac's Home Value Explorer (HVE) was also considered an acceptable secondary valuation product for GSE-related transactions. If the CU/LCA risk score was ineligible for GSE RW&E relief, then AMC compared a third valuation product (such as a field review) to the original appraisal.

**(7) Compliance of the originator of the assets with federal, state and local laws and regulations: review and methodology.**

N/A

**(8) Other: review and methodology.**

The final review results reflected in the Overall Review Results Summary herein may include additional exceptions identified after AMC's initial review was completed where loan level issues were identified by external parties as a result of separate, distinct quality control evaluation of the loan files. In such cases, any additional exceptions cited by any such quality control evaluation would either be reflected (i) as an open exception or (ii) remediated if required documentation and/or curative actions were provided to AMC. The exception totals reflected herein, and corresponding Exception Rating, include exceptions that were so subsequently identified, if any. Please note that only a limited number of loans, if any, reflected in the Review Results Summary were subject to such external quality control evaluations.

**(9) Disclaimer.**

Except as expressly enumerated above, please be advised that SitusAMC has not performed any review to determine whether the mortgage loans covered in this Report complied with federal, state or local laws, constitutional provisions, regulations, ordinances or any other laws or guidance, including, without limitation, licensing and general usury laws ("Applicable Law"). Further, there can be no assurances that in performing the review and preparing this Report that SitusAMC has uncovered all relevant factors and potential issues relating to the origination of the mortgage loans, their compliance with Applicable Law, or the original appraisals relating to the mortgaged properties, or that SitusAMC has uncovered all relevant factors that could affect the future performance of the mortgage loans. Please note that the results set forth in this Report are dependent upon receipt of complete and accurate data regarding the mortgage loans from mortgage loan originators, sponsors, issuers, underwriters, and other third parties upon which SitusAMC is relying in reaching such results. Except as expressly stated herein, SitusAMC did not verify the data relied upon in performing its review and producing this Report. In addition, the findings and conclusions set forth in this Report are provided on an "as is" basis and are based on available information and Applicable Law as of the date of this Report, and SitusAMC does not undertake any obligation to update or provide any revisions to this Report to reflect events, circumstances, changes in Applicable Law, or changes in expectations after the date this Report was issued. SitusAMC also hereby disclaims any representation or warranty as to accuracy or completeness of the Report, the inclusion or omission of any facts or information, or as to its suitability, sufficiency or appropriateness for the purposes of the transaction parties or investors or the use of the Report in preparation of any other document in connection with the subject transaction.).

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Please be further advised that SitusAMC does not employ personnel who are licensed to practice law in the various jurisdictions covered in this Report, and the results set forth in this Report do not constitute legal advice or legal opinions whatsoever. The findings are recommendations or conclusions based on information provided to SitusAMC, and are not statements of fact or legal conclusions. Information contained in the Report related to the applicable statute of limitations for certain claims may not be accurate or reflect the most recent controlling case law. Further, a particular court in a particular jurisdiction may extend, not enforce or otherwise allow claims beyond the statute of limitations identified in the Report based on certain factors, including the facts and circumstances of an individual mortgage loan. The authorities administering the Applicable Law that was part of the review have broad discretionary powers which may permit such authorities, among other things, to withdraw exemptions accorded by statute or regulation, to impose additional requirements or to reach a conclusion that is not consistent with the results set forth in the Report. All decisions as to whether to issue, purchase, hold, sell or otherwise transact in securities backed by the mortgage loans reviewed in this Report, any investment strategy and any legal conclusions, including the potential liability related to the purchase or other transaction involving any such securities, shall be made solely by the parties to or investors in the transaction. The results set forth in this Report do not constitute tax or investment advice. The scoring models in this Report are designed to identify potential risk in the securities backed by the mortgage loans reviewed, and each party or investor assumes sole responsibility for determining the suitability of the information for its particular use. SitusAMC does not make any representation or warranty (express or implied) as to the value of any mortgage loan or mortgage loan's collateral that has been reviewed by SitusAMC.

**SUMMARY OF FINDINGS & CONCLUSIONS OF REVIEW** 

The NRSRO criteria referenced for this report and utilized for grading descriptions is based upon the requirements of DBRS, Inc. ("DBRS"), Kroll Bond Rating Agency, LLC ("Kroll"), Moody's Investors Service, Inc. ("Moody's"), and S&P Global Ratings ("S&P").

**OVERALL RESULTS SUMMARY** 

There were six (6) mortgage loans in the securitization population reviewed by AMC. After all documents were presented under the applicable NRSRO grading criteria, four (4) (66.67%) loans had an Overall grade of "A", and two (2) (33.33%) loans had an Overall loan grade of "B".

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**NRSRO Grade** | &nbsp;&nbsp;**# of Loans** | &nbsp;&nbsp;**% of Loans** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;4 | &nbsp;&nbsp;66.67% |
| &nbsp;&nbsp;B | &nbsp;&nbsp;2 | &nbsp;&nbsp;33.33% |
| &nbsp;&nbsp;C | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;D | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;N/A | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |

---

**CREDIT RESULTS SUMMARY**

Of the six (6) mortgage loans, four (4) loans received an "A" Credit Review grade. The two (2) "B" Credit Review grades were due to missing documentation and/or guideline adherence. Exceptions were offset by strong compensating factors such as high disposable income, low LTV, and/or high liquid assets.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**NRSRO Grade** | &nbsp;&nbsp;**# of Loans** | &nbsp;&nbsp;**% of Loans** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;4 | &nbsp;&nbsp;66.67% |
| &nbsp;&nbsp;B | &nbsp;&nbsp;2 | &nbsp;&nbsp;33.33% |
| &nbsp;&nbsp;C | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;D | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;N/A | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |

---

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**PROPERTY/VALUATION RESULTS SUMMARY**

All six (6) loans reviewed under the applicable NRSRO grading criteria, received an "A" Property/Valuation Review grade.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**NRSRO Grade** | &nbsp;&nbsp;**# of Loans** | &nbsp;&nbsp;**% of Loans** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;B | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;C | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;D | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;N/A | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |

---

**EXCEPTION CATEGORY SUMMARY**

The tables below summarizes the individual exceptions which carried an associated "B", "C", or "D" level exception grade. One loan may have carried more than one exception. In such cases, the exception with the lowest grade would drive the loan grade for that particular area of the review. The overall loan grade is the lowest grade for any one particular review scope (ex. a loan with a Compliance Grade of "B", a Credit Grade of "A", and a Property Grade of "A" would receive an overall Loan Grade of "B").

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Exception Type** | &nbsp;&nbsp;**Final Exception Rating** | &nbsp;&nbsp;**Exception Category** | &nbsp;&nbsp;**Total** |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;B | &nbsp;&nbsp;Guideline | &nbsp;&nbsp;3 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;B | &nbsp;&nbsp;***Total Credit Grade (B) Exceptions:*** | &nbsp;&nbsp;***3*** |
| &nbsp;&nbsp;**Total Credit Exceptions:** | &nbsp;&nbsp;**Total Credit Exceptions:** | &nbsp;&nbsp;**Total Credit Exceptions:** | &nbsp;&nbsp;**3** |
| &nbsp;&nbsp;**Grand Total:** | &nbsp;&nbsp;**Grand Total:** | &nbsp;&nbsp;**Grand Total:** | &nbsp;&nbsp;**3** |

---

**TAPE INTEGRITY REVIEW RESULTS SUMMARY**

Of the six (6) mortgage loans reviewed, four (4) (66.67%) mortgage loans had tape discrepancies across four (4) unique data fields. The most common tape discrepancies were Property Type and Subject Debt Service Coverage. AMC found generally that the DSCR and DTI discrepancies were due to differences in calculating complex incomes; while the data differed, the resulting ratios generally remained within guidelines.

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Field Label** | &nbsp;&nbsp;**Loans With Discrepancy** | &nbsp;&nbsp;**Total Times Compared** | &nbsp;&nbsp;**% Variance** | &nbsp;&nbsp;**# Of Loans** |
| &nbsp;&nbsp;Appraised Value | &nbsp;&nbsp;1 | &nbsp;&nbsp;6 | &nbsp;&nbsp;16.67% | &nbsp;&nbsp;6 |
| &nbsp;&nbsp;Borrower Last Name | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;6 |
| &nbsp;&nbsp;City | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;6 |
| &nbsp;&nbsp;Note Date | &nbsp;&nbsp;1 | &nbsp;&nbsp;6 | &nbsp;&nbsp;16.67% | &nbsp;&nbsp;6 |
| &nbsp;&nbsp;Occupancy | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;6 |
| &nbsp;&nbsp;Original Loan Amount | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;6 |
| &nbsp;&nbsp;Original LTV | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;6 |
| &nbsp;&nbsp;Property Type | &nbsp;&nbsp;2 | &nbsp;&nbsp;6 | &nbsp;&nbsp;33.33% | &nbsp;&nbsp;6 |
| &nbsp;&nbsp;Representative FICO | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;6 |
| &nbsp;&nbsp;State | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;6 |
| &nbsp;&nbsp;Street | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;6 |
| &nbsp;&nbsp;Subject Debt Service Coverage Ratio | &nbsp;&nbsp;2 | &nbsp;&nbsp;6 | &nbsp;&nbsp;33.33% | &nbsp;&nbsp;6 |
| &nbsp;&nbsp;Zip | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;6 |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**6** | &nbsp;&nbsp;**78** | &nbsp;&nbsp;**7.69%** | &nbsp;&nbsp;**6** |

---

**ADDITIONAL LOAN POPULATION SUMMARY (some totals may not add due to rounding)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Amortization Type** | &nbsp;&nbsp;**Loan Count** | &nbsp;&nbsp;**% of Loans** | &nbsp;&nbsp;**Original Balance** | &nbsp;&nbsp;**% of Balance** |
| &nbsp;&nbsp;Fixed | &nbsp;&nbsp;5 | &nbsp;&nbsp;83.33% | &nbsp;&nbsp;$1002000.00 | &nbsp;&nbsp;82.91% |
| &nbsp;&nbsp;Adjustable | &nbsp;&nbsp;1 | &nbsp;&nbsp;16.67% | &nbsp;&nbsp;$206500.00 | &nbsp;&nbsp;17.09% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**6** | &nbsp;&nbsp;**100.00%** | &nbsp;&nbsp;**$1208500.00** | &nbsp;&nbsp;**100.00%** |

---

5 \| P a g e

![](ex992001.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Lien Position** | &nbsp;&nbsp;**Loan Count** | &nbsp;&nbsp;**% of Loans** | &nbsp;&nbsp;**Original Balance** | &nbsp;&nbsp;**% of Balance** |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% | &nbsp;&nbsp;$1208500.00 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**6** | &nbsp;&nbsp;**100.00%** | &nbsp;&nbsp;**$1208500.00** | &nbsp;&nbsp;**100.00%** |
| &nbsp;&nbsp;**Loan Purpose** | &nbsp;&nbsp;**Loan Count** | &nbsp;&nbsp;**% of Loans** | &nbsp;&nbsp;**Original Balance** | &nbsp;&nbsp;**% of Balance** |
| &nbsp;&nbsp;Cash Out: Other/Multi-purpose/Unknown Purpose | &nbsp;&nbsp;3 | &nbsp;&nbsp;50.00% | &nbsp;&nbsp;$496500.00 | &nbsp;&nbsp;41.08% |
| &nbsp;&nbsp;Other-than-first-time Home Purchase | &nbsp;&nbsp;3 | &nbsp;&nbsp;50.00% | &nbsp;&nbsp;$712000.00 | &nbsp;&nbsp;58.92% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**6** | &nbsp;&nbsp;**100.00%** | &nbsp;&nbsp;**$1208500.00** | &nbsp;&nbsp;**100.00%** |
| &nbsp;&nbsp;**Original Term** | &nbsp;&nbsp;**Loan Count** | &nbsp;&nbsp;**% of Loans** | &nbsp;&nbsp;**Original Balance** | &nbsp;&nbsp;**% of Balance** |
| &nbsp;&nbsp;241-360 Months | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% | &nbsp;&nbsp;$1208500.00 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**6** | &nbsp;&nbsp;**100.00%** | &nbsp;&nbsp;**$1208500.00** | &nbsp;&nbsp;**100.00%** |
| &nbsp;&nbsp;**Property Type** | &nbsp;&nbsp;**Loan Count** | &nbsp;&nbsp;**% of Loans** | &nbsp;&nbsp;**Original Balance** | &nbsp;&nbsp;**% of Balance** |
| &nbsp;&nbsp;Single Family Detached | &nbsp;&nbsp;2 | &nbsp;&nbsp;33.33% | &nbsp;&nbsp;$290000.00 | &nbsp;&nbsp;24.00% |
| &nbsp;&nbsp;Condo, Low Rise | &nbsp;&nbsp;1 | &nbsp;&nbsp;16.67% | &nbsp;&nbsp;$206500.00 | &nbsp;&nbsp;17.09% |
| &nbsp;&nbsp;PUD | &nbsp;&nbsp;1 | &nbsp;&nbsp;16.67% | &nbsp;&nbsp;$227500.00 | &nbsp;&nbsp;18.82% |
| &nbsp;&nbsp;3 Family | &nbsp;&nbsp;1 | &nbsp;&nbsp;16.67% | &nbsp;&nbsp;$172500.00 | &nbsp;&nbsp;14.27% |
| &nbsp;&nbsp;4 Family | &nbsp;&nbsp;1 | &nbsp;&nbsp;16.67% | &nbsp;&nbsp;$312000.00 | &nbsp;&nbsp;25.82% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**6** | &nbsp;&nbsp;**100.00%** | &nbsp;&nbsp;**$1208500.00** | &nbsp;&nbsp;**100.00%** |
| &nbsp;&nbsp;**Occupancy** | &nbsp;&nbsp;**Loan Count** | &nbsp;&nbsp;**% of Loans** | &nbsp;&nbsp;**Original Balance** | &nbsp;&nbsp;**% of Balance** |
| &nbsp;&nbsp;Investment | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% | &nbsp;&nbsp;$1208500.00 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**6** | &nbsp;&nbsp;**100.00%** | &nbsp;&nbsp;**$1208500.00** | &nbsp;&nbsp;**100.00%** |

---

6 \| P a g e

## Exhibit 99.2

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.2 - Schedule 1**

![](ex99_001.jpg)

**Exception Grades**

**Run Date - 4/15/2026 2:20:31 PM** 

---

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SitusAMC Loan ID** | **Customer Loan ID** | **Seller Loan ID** | **Investor Loan Number** | **Loan Exception ID** | **Exception Date** | **Exception Type** | **Exception Category** | **Exception Subcategory** | **15E Category** | **Exception** | **Exception Detail** | **Exception Information** | **Compensating Factors** | **Compensating Factor Information** | **Applying Party** | **Follow-up Comments** | **Cleared Date** | **Cured Date** | **Waived Date** | **Exception Level Grade** | **Note Date** | **Property State** | **Occupancy** | **Purpose** | **Exception Remediation** | **Compliance<br> Initial Loan Grade** | **Compliance<br> Final Loan Grade** | **Originator QM ATR Status** | **TPR QM ATR Status** | **Is Curable** |
| [Redact] | 10178878 | [Redact] |  | 36290277 |  | Credit | Credit | Miscellaneous | Guideline | Credit Exception: |  | The 1004 Appraisal shows the subject property as owner occupied, there is a current lease agreement in the file. A corrected 1004 appraisal required. |  |  |  | Reviewer Comment (2026-01-08): provided<br>Buyer Comment (2026-01-07): attached | 01/08/2026 |  |  | 1 C A |  | [Redact] | Investment | Refinance - Cash-out - Other | C A |  | A |  | N/A | No |
| [Redact] | 10178829 | [Redact] |  | 36290278 |  | Credit | Insurance | Insurance Analysis | Insurance | Insurance address does not match Note address. |  | As per the Note, The Zip code is [Redact] and Zip code on Hazard Insurance policy is [Redact] which mismatches. |  |  |  | Reviewer Comment (2026-01-08): Received and attached corrected Hazard Insurance document. Exception Cleared.<br>Buyer Comment (2026-01-07): attached | 01/08/2026 |  |  | 1 C A |  | [Redact] | Investment | Purchase | C A |  | A |  | N/A | No |
| [Redact] | 10178880 | [Redact] |  | 36290280 |  | Credit | Credit | Miscellaneous | Guideline | Credit Exception: |  | Lender allowed for non-warrantable condo with 62.5% Investor occupancy, versus guideline max of 60%. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. |  | [Redact] | Reviewer Comment (2026-01-07): Lender exception approval in file |  |  | 01/07/2026 | 2 B |  | [Redact] | Investment | Refinance - Cash-out - Other | B |  | A |  | N/A | No |
| [Redact] | 10178864 | [Redact] |  | 36290283 |  | Credit | Credit | Miscellaneous | Guideline | Credit Exception: |  | Lender allowed a Rural Property on Investment transaction | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. |  | [Redact] | Reviewer Comment (2026-01-16): Lender exception approval in file |  |  | 01/16/2026 | 2 B |  | [Redact] | Investment | Refinance - Cash-out - Other | B |  | A |  | N/A | No |
| [Redact] | 10178864 | [Redact] |  | 36290284 |  | Credit | Credit | Miscellaneous | Guideline | Credit Exception: |  | Lender allowed Vacant property on DSCR Refinance Transaction | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by at least 4 months. |  | [Redact] | Reviewer Comment (2026-01-16): Lender exception approval in file |  |  | 01/16/2026 | 2 B |  | [Redact] | Investment | Refinance - Cash-out - Other | B |  | A |  | N/A | No |

---

## Exhibit 99.2

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.2 - Schedule 2**

![](ex99_001.jpg)

**Rating Agency Grades**

**Run Date - 4/15/2026 2:20:31 PM**

---

| | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **INITIAL CREDIT LOAN GRADES** | **INITIAL COMPLIANCE LOAN GRADES** | **INITIAL COMPLIANCE LOAN GRADES** | **INITIAL COMPLIANCE LOAN GRADES** | **INITIAL COMPLIANCE LOAN GRADES** | **INITIAL COMPLIANCE LOAN GRADES** | **INITIAL COMPLIANCE LOAN GRADES** | **INITIAL PROPERTY LOAN GRADES** | **INITIAL OVERALL LOAN GRADES** | **FINAL CREDIT LOAN GRADES** | **FINAL COMPLIANCE LOAN GRADES** | **FINAL COMPLIANCE LOAN GRADES** | **FINAL COMPLIANCE LOAN GRADES** | **FINAL COMPLIANCE LOAN GRADES** | **FINAL COMPLIANCE LOAN GRADES** | **FINAL COMPLIANCE LOAN GRADES** | **FINAL PROPERTY LOAN GRADES** | **FINAL OVERALL LOAN GRADES** |
| **AMC Loan ID** | **Customer Loan ID** | **Seller Loan ID** | **Investor Loan Number** | **Deal Number** | **Original Loan Amount** | **Morningstar** | **DBRS** | **Fitch** | **Kroll** | **Moody's** | **S&P** | **Morningstar** | **Morningstar** | **Morningstar** | **Morningstar** | **DBRS** | **Fitch** | **Kroll** | **Moody's** | **S&P** | **Morningstar** | **Morningstar** | **Morningstar** |
| [Redact] | 10178798 | [Redact] |  |  | A |  |  |  |  |  |  | A | A | A |  | N/A | N/A | N/A | N/A | N/A | A | A |  |
| [Redact] | 10178749 | [Redact] |  |  | A |  |  |  |  |  |  | A | A | A |  | N/A | N/A | N/A | N/A | N/A | A | A |  |
| [Redact] | 10178878 | [Redact] |  |  | C |  |  |  |  |  |  | A | C | A |  | N/A | N/A | N/A | N/A | N/A | A | A |  |
| [Redact] | 10178829 | [Redact] |  |  | C |  |  |  |  |  |  | A | C | A |  | N/A | N/A | N/A | N/A | N/A | A | A |  |
| [Redact] | 10178880 | [Redact] |  |  | B |  |  |  |  |  |  | A | B | B |  | N/A | N/A | N/A | N/A | N/A | A | B |  |
| [Redact] | 10178864 | [Redact] |  |  | B |  |  |  |  |  |  | A | B | B |  | N/A | N/A | N/A | N/A | N/A | A | B |  |

---

## Exhibit 99.2

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.2 - Schedule 3**

![](ex99_001.jpg)

**Data Compare (Non-Ignored)**

**Run Date - 4/15/2026 2:19:02 PM** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **AMC Loan ID** | **Customer Loan ID** | **Seller Loan ID** | **Servicer Loan ID** | **Investor Loan Number** | **Field Label** | **Bid Tape Field Value** | **Field Value** | **Compare Status** | **Comment** |
| [Redact] | 10178798 | [Redact] |  |  | Property Type | Single Family Attached | 3 Family | Verified | Field Value captured from Appraisal or Valuation model in file |
| [Redact] | 10178749 | [Redact] |  |  | Appraised Value | [Redact] | [Redact] | Verified | Field Value captured from Valuation model in file |
| [Redact] | 10178749 | [Redact] |  |  | Subject Debt Service Coverage Ratio | 1.24 | 1.20 | Verified | Field value reflects source document |
| [Redact] | 10178878 | [Redact] |  |  | Note Date |  | [Redact] | Verified | Field Value reflects Note Date per the Note |
| [Redact] | 10178878 | [Redact] |  |  | Subject Debt Service Coverage Ratio | 1.10 | 1.04 | Verified | Field value reflects source document |
| [Redact] | 10178829 | [Redact] |  |  | Property Type | Single Family Attached | 4 Family | Verified | Field Value captured from Appraisal or Valuation model in file |

---

## Exhibit 99.2

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.2 - Schedule 4**

![](ex99_001.jpg)

**Valuation Report**

**Run Date - 4/15/2026 2:20:31 PM** 

---

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SitusAMC Loan ID** | **Customer Loan ID** | **Seller Loan ID** | **Investor Loan Number** | **Note Date** | **Original Loan Amount** | **Sales Price** | **Value for LTV** | **As-Is Value for LTV** | **LTV Value Variance Amount** | **LTV Value Variance Percent** | **Primary Valuation Value** | **Primary Valuation Report Date** | **Primary Valuation Effective Date** | **Primary Valuation Type** | **Primary Valuation Company** | **Primary Valuation Appraiser Name** | **Primary Valuation Appraiser License Num** | **Primary Valuation FSD Score** | **Secondary Valuation Value** | **Secondary Valuation Variance Amount** | **Secondary Valuation Variance Percent** | **Secondary Valuation Report Date** | **Secondary Valuation Effective Date** | **Secondary Valuation Type** | **Secondary Valuation Company** | **Secondary Valuation FSD Score** | **Secondary Valuation Desk Review Risk Score** | **AVM Value** | **AVM Variance Amount** | **AVM Variance Percent** | **AVM Company** | **AVM FSD Score** | **AVM Report Date** | **Desk Review Value** | **Desk Review Variance Amount** | **Desk Review Variance Percent** | **Desk Review Company** | **Desk Review Risk Score** | **Desk Review Report Date** | **Desk Review Effective Date** | **Desktop Appraisal Value** | **Desktop Appraisal Variance Amount** | **Desktop Appraisal Variance Percent** | **Desktop Appraisal Company** | **Desktop Appraisal Report Date** | **Desktop Appraisal Effective Date** | **BPO Value** | **BPO Variance Amount** | **BPO Variance Percent** | **BPO Company** | **BPO Report Date** | **Field Review Value** | **Field Review Variance Amount** | **Field Review Variance Percent** | **Field Review Company** | **Field Review Report Date** | **Field Review Effective Date** | **2055 Value** | **2055 Variance Amount** | **2055 Variance Percent** | **2055 Company** | **2055 Report Date** | **2055 Effective Date** | **AVE/CMA Value** | **AVE/CMA Variance Amount** | **AVE/CMA Variance Percent** | **AVE/CMA Company** | **AVE/CMA Report Date** | **Hybrid Valuation Value** | **Hybrid Valuation Variance Amount** | **Hybrid Valuation Variance Percent** | **Hybrid Valuation Company** | **Hybrid Valuation Report Date** | **Updated Valuation Value** | **Updated Valuation Variance Amount** | **Updated Valuation Variance Percent** | **Updated Valuation Company** | **Updated Valuation Report Date** | **Updated Valuation Effective Date** | **Aggregate Appraised Value** | **Aggregate Variance Amount** | **Aggregate Variance Percent** | **Value Analysis Valuation Value** | **Value Analysis Report Date** | **Is Eligible for Rep and Warrant Relief per Loan Collateral Advisor?** | **LCA Risk Score** | **Collateral Underwriter Risk Score** |
| [Redact] | 10178798 | [Redact] |  |  |  |  |  |  |  | 0.000% |  |  |  | Appraisal |  |  |  |  |  |  | 0.000% |  |  | Desk Review |  |  | Moderate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |  |
| [Redact] | 10178749 | [Redact] |  |  |  |  |  |  |  | 0.000% |  |  |  | Appraisal |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Yes | 1.00 | 1.00 |
| [Redact] | 10178878 | [Redact] |  |  |  |  |  |  |  | 0.000% |  |  |  | Appraisal |  |  |  |  |  |  | 0.000% |  |  | Desk Review |  |  | Low |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |  |
| [Redact] | 10178829 | [Redact] |  |  |  |  |  |  |  | 0.000% |  |  |  | Appraisal |  |  |  |  |  |  | 0.000% |  |  | Desk Review |  |  | Low |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |  |
| [Redact] | 10178880 | [Redact] |  |  |  |  |  |  |  | 0.000% |  |  |  | Appraisal |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  | 1.10 |
| [Redact] | 10178864 | [Redact] |  |  |  |  |  |  |  | 0.000% |  |  |  | Appraisal |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | No |  | 1.00 |

---

## Exhibit 99.2

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.2 - Schedule 5**

![](ex99_001.jpg)

**Supplemental Data**

**Run Date - 4/15/2026 2:20:31 PM** 

---

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| **SitusAMC Loan ID** | **Customer Loan ID** | **Seller Loan ID** | **Investor Loan Number** | **TILA Status Loan Designation** | **Exempt QM/ATR Equivalency** | **CDFI Bank Originated Loan** | **Application Date** | **TRID Tested** | **GSE** | **HOEPA Fees** | **TILA Fees** | **Rate Lock Date** | **Calculated APR** | **Original P&I** | **Qualifying P&I** | **Qualifying Rate** | **Is Borrower Non Occupant** | **Is Co Borrower Non Occupant** | **Borrower Employment Indicator** | **Co Borrower Employment Indicator** | **Co Borrower 2 Employment Indicator** | **Co Borrower 3 Employment Indicator** | **Co Borrower2 Length of Employment** | **Co Borrower3 Length of Employment** | **Borrower Foreign National Indicator** | **Co Borrower Foreign National Indicator** | **Co Borrower 2 Foreign National Indicator** | **Co Borrower 3 Foreign National Indicator** | **Borrower Country Name** | **Co Borrower Country Name** | **Co Borrower2 Country Name** | **Co Borrower3 Country Name** | **Residual Income** | **Num Units** | **Annual Property Tax** | **Annual Insurance Costs** | **Monthly Property Tax** | **Monthly Insurance Costs** | **HOA Name** | **HOA Address State** | **Fee Amount** | **Next Due Date** | **HOA Payment Frequency** | **Investor DTI** | **QM DTI** | **Non QM DTI** | **Original Credit Report Date** | **Qualifying Credit Score** | **Third Wage Earner Original FICO Equifax** | **Third Wage Earner Original FICO Experian** | **Third Wage Earner Original FICO Transunion** | **Fourth Wage Earner Original FICO Equifax** | **Fourth Wage Earner Original FICO Experian** | **Fourth Wage Earner Original FICO Transunion** | **Most Recent Updated Credit Report Date** | **Primary Wage Earner Updated FICO Equifax** | **Primary Wage Earner Updated FICO Experian** | **Primary Wage Earner Updated FICO Transunion** | **Secondary Wage Earner Updated FICO Equifax** | **Secondary Wage Earner Updated FICO Experian** | **Secondary Wage Earner Updated FICO Transunion** | **Third Wage Earner Updated FICO Equifax** | **Third Wage Earner Updated FICO Experian** | **Third Wage Earner Updated FICO Transunion** | **Fourth Wage Earner Updated FICO Equifax** | **Fourth Wage Earner Updated FICO Experian** | **Fourth Wage Earner Updated FICO Transunion** | **Most Recent Updated Co Borrower 2 FICO** | **Most Recent Updated Co Borrower 3 FICO** | **Co Borrower 2 Asset Verification Level** | **Co Borrower 3 Asset Verification Level** | **Co Borrower 2 Income Verification Level** | **Co Borrower 3 Income Verification Level** | **Co Borrower 2 Employment Verification Level** | **Co Borrower 3 Employment Verification Level** | **Asset Depletion Flag** | **Bank Statements Flag** | **Number of Statements** | **Type of Statements** | **Percent of Income From Statements** | **Borrower Business Ownership %** | **CoBorrower Business Ownership %** | **P&L Type** | **Income Doc Detail** | **Tax Return Doc Details** | **Document Level** | **Document Type** | **Most Recent Bankruptcy Type** | **Most Recent Bankruptcy Filing Date** | **Most Recent Bankruptcy Discharge Date** | **Number of Bankruptcy Events** | **Months Bankruptcy (7, 11)** | **Months Bankruptcy (13)** | **Most Recent Deed-in - Lieu Date** | **Number of Deed-in-Lieu Events** | **Months Deed-in-Lieu** | **Most Recent Short Sale Date** | **Number of Short Sale Events** | **Months Short Sale (or Pre FC)** | **Most Recent Foreclosure Date** | **Number of Foreclosure Events** | **Months Foreclosure** | **Prior Mortgage/Rent Late 30d in 24m** | **Prior Mortgage/Rent Late 60d in 24m** | **Prior Mortgage/Rent Late 90d in 24m** | **Has ACH** | **Guideline Name** | **UW Guideline Author** | **ATR QM Total Points and Fees Audit** | **Loan Regulation Benchmark Date** | **Benchmark Rate** | **HUD 1 Page 1 Credits Total** | **Collateral Underwriter Risk Score** | **AUS Decision System** | **Property Inspection Waiver (PIW)** | **Rating Result** | **Eligible For Rep and Warrant Relief Per Collateral Advisor** | **Is Equity Shared Loan** | **Investor Qualifying Rate** | **Borrower Years of W2s** | **CoBorrower Years of W2s** | **Years of Personal Tax Returns** | **Years of Business Tax Returns** | **Years of 4506T** | **Years of Tax Transcripts** | **Months of Personal Bank Statements** | **Months of Business Bank Statements** | **Months of Profit and Loss Statements** | **Expense Letter** | **Total DSCR** | **Total Inverse DSCR** | **Subordinate Lien Type** | **Is Shared Appreciation Mortgage** | **Duration of Payout Months** | **Seller VSH Indicator** | **Seller Indicated VSH Guideline** | **Validated VSH** | **IO Remaining Amortization Term at Recast** | **Maturity Date** | **Borrower Own Funds Cash Amount** | **Borrower Own Funds Percent** | **Is the Note an eNote** | **Borrower WVOE - # of Months of Income provided** | **Co Borrower WVOE - # of Months of Income provided** | **Co Borrower2 WVOE - # of Months of Income provided** | **Co Borrower3 WVOE - # of Months of Income provided** | **Were the origination guidelines utilized for this diligence review?** | **Title Evidence** | **Ownership Type** | **Borrower Type** | **Borrower Designation** | **Co Borrower Type** | **Co Borrower Designation** | **Co Borrower2 Type** | **Co Borrower2 Designation** | **Co Borrower3 Type** | **Co Borrower3 Designation** | **Senior Lien Position** | **Senior Lien Original Loan Amount** | **Senior Lien Original Interest Rate** | **Senior Lien Note Projected Closing Date** | **Senior Lien Current Balance** | **Senior Lien Current P&I** | **Loan Closed in the Name of an Entity** | **Note Executed by** | **Assumable Mortgage Flag** | **Leasehold Flag** | **Buydown Flag** | **Borrower Experian FICO Model Used** | **Borrower Equifax FICO Model Used** | **Borrower TransUnion FICO Model Used** | **Co Borrower Experian FICO Model Used** | **Co Borrower Equifax FICO Model Used** | **Co Borrower TransUnion FICO Model Used** | **Co Borrower2 Experian FICO Model Used** | **Co Borrower2 Equifax FICO Model Used** | **Co Borrower2 TransUnion FICO Model Used** | **Co Borrower3 Experian FICO Model Used** | **Co Borrower3 Equifax FICO Model Used** | **Co Borrower3 TransUnion FICO Model Used** | **Borrower Documentation Used to Determine Legal Residency** | **Co Borrower Documentation Used to Determine Legal Residency** | **Co Borrower2 Documentation Used to Determine Legal Residency** | **Co Borrower3 Documentation Used to Determine Legal Residency** | **Delayed Financing?** | **Months Reserves** | **Correspondent Type** | **Departure Residence** | **Rate Increase on Default** | **MERS Min Number** | **Co Borrower Other Income** | **Co Borrower Wage Income** | **Primary Housing Lates 0 6 Months 30** | **Primary Housing Lates 0 6 Months 60** | **Primary Housing Lates 0 6 Months 90** | **Primary Housing Lates 7 12 Months 30** | **Primary Housing Lates 7 12 Months 60** | **Primary Housing Lates 7 12 Months 90** | **Primary Housing Lates 13 24 Months 30** | **Primary Housing Lates 13 24 Months 60** | **Primary Housing Lates 13 24 Months 90** | **Primary Housing Lates 25 36 Months 30** | **Primary Housing Lates 25 36 Months 60** | **Primary Housing Lates 25 36 Months 90** | **Borrower 1 ITIN Flag** | **Borrower 2 ITIN Flag** | **Borrower 3 ITIN Flag** | **Borrower 4 ITIN Flag** | **Total Number of Mortgaged Properties** | **Amortization Term Less IO** |
| [Redact] | 10178798 | [Redact] |  | N/A |  |  |  | No | No |  |  |  |  | [Redact] | [Redact] | [Redact] | No | No |  |  |  |  |  |  | US Citizen |  |  |  |  |  |  |  |  | 3 | [Redact] | [Redact] | [Redact] | [Redact] |  |  |  |  |  | 0.000% | 0.000% | 0.000% | [Redact] | 700 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | No | No |  |  |  |  |  |  |  |  |  | DSCR |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 | 0 | 0 | Yes |  | [Redact] |  |  |  | $0.00 |  |  |  |  | N/A | No | [Redact] | 0 |  | 0 | 0 | 0 | 0 |  |  | 0.00 | No | 1.68 | 0.6 |  |  |  |  |  |  |  | [Redact] | [Redact] | 37.680% | No |  |  |  |  | Yes | Commitment | Fee Simple | Individual | Individual |  |  |  |  |  |  |  |  |  |  |  |  | No | Individual | No |  | No | Fair Isaac (VER. 2) | FICO Classic V5 Facta | FICO Risk Score Classic 04 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6.8 |  |  | No |  | $0.00 | $0.00 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | No | No | No | No | 2 | 360 |
| [Redact] | 10178749 | [Redact] |  | N/A |  |  |  | No | No |  |  |  |  | [Redact] | [Redact] | [Redact] | No | No |  |  |  |  |  |  |  | US Citizen |  |  |  |  |  |  |  | 1 | [Redact] | [Redact] | [Redact] | [Redact] |  |  |  |  |  | 0.000% | 0.000% | 0.000% | [Redact] | 678 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | No | No |  |  |  |  |  |  |  |  |  | DSCR |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 | 0 | 0 | Yes |  | [Redact] |  |  |  | $0.00 | 1 |  |  |  | Yes | No | [Redact] | 0 | 0 | 0 | 0 | 0 | 0 |  |  | 0.00 | No | 1.2 | 0.83 |  |  |  |  |  |  |  | [Redact] | [Redact] | 37.430% | No |  |  |  |  | Yes | Commitment | Fee Simple | LLC | Business Entity | Individual | Guarantor - Individual |  |  |  |  |  |  |  |  |  |  | Yes | Business Entity | No |  | No |  |  |  | Fair Isaac (VER. 2) | FICO Classic V5 Facta | FICO Risk Score Classic 04 |  |  |  |  |  |  |  |  |  |  |  | 3.03 |  |  | No |  | $0.00 | $0.00 |  |  |  |  |  |  |  |  |  |  |  |  | No | No | No | No | 1 | 360 |
| [Redact] | 10178878 | [Redact] |  | N/A |  |  |  | No | No |  |  |  |  | [Redact] | [Redact] | [Redact] | No | No |  |  |  |  |  |  | US Citizen |  |  |  |  |  |  |  |  | 1 | [Redact] | [Redact] | [Redact] | [Redact] |  |  |  |  |  | 0.000% | 0.000% | 0.000% | [Redact] | 715 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | No | No |  |  |  |  |  |  |  |  |  | DSCR |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 | 0 | 0 | Yes |  | [Redact] |  |  |  | $0.00 |  |  |  |  | N/A | No | [Redact] | 0 |  | 0 | 0 | 0 | 0 |  |  | 0.00 | No | 1.04 | 0.96 |  |  |  |  |  |  |  | [Redact] | [Redact] |  | No |  |  |  |  | Yes | Commitment | Fee Simple | Individual | Individual |  |  |  |  |  |  |  |  |  |  |  |  | No | Individual | No |  | No | Fair Isaac (VER. 2) | FICO Classic V5 Facta | FICO Risk Score Classic 04 |  |  |  |  |  |  |  |  |  |  |  |  |  | No | 79.3 |  |  | No |  | $0.00 | $0.00 |  |  |  |  |  |  |  |  |  |  |  |  | No | No | No | No | 1 | 360 |
| [Redact] | 10178829 | [Redact] |  | N/A |  |  |  | No | No |  |  |  |  | [Redact] | [Redact] | [Redact] | No | No |  |  |  |  |  |  |  | US Citizen |  |  |  |  |  |  |  | 4 | [Redact] | [Redact] | [Redact] | [Redact] |  |  |  |  |  | 0.000% | 0.000% | 0.000% | [Redact] | 744 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | No | No |  |  |  |  |  |  |  |  |  | DSCR |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 | 0 | 0 | Yes |  | [Redact] |  |  |  | $0.00 |  |  |  |  | N/A | No | [Redact] | 0 | 0 | 0 | 0 | 0 | 0 |  |  | 0.00 | No | 1.69 | 0.59 |  |  |  |  |  |  |  | [Redact] | [Redact] | 23.060% | No |  |  |  |  | Yes | Final | Fee Simple | LLC | Business Entity | Individual | Guarantor - Individual |  |  |  |  |  |  |  |  |  |  | Yes | Business Entity | No |  | No |  |  |  | Fair Isaac (VER. 2) | FICO Classic V5 Facta | FICO Risk Score Classic 04 |  |  |  |  |  |  |  |  |  |  |  | 28.32 |  |  | No |  | $0.00 | $0.00 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  |  |  | No | No | No | No | 1 | 360 |
| [Redact] | 10178880 | [Redact] |  | N/A |  |  |  | No | No |  |  |  |  | [Redact] | [Redact] | [Redact] | No | No |  |  |  |  |  |  | US Citizen |  |  |  |  |  |  |  |  | 1 | [Redact] | [Redact] | [Redact] | [Redact] |  |  |  |  |  | 0.000% | 0.000% | 0.000% | [Redact] | 686 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | No | No |  |  |  |  |  |  |  |  |  | DSCR |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 | 0 | 0 | Yes |  | [Redact] |  |  |  | $0.00 | 1.1 |  |  |  | N/A | No | [Redact] | 0 |  | 0 | 0 | 0 | 0 |  |  | 0.00 | No | 1.11 | 0.9 |  |  |  |  |  |  |  | [Redact] | [Redact] |  | No |  |  |  |  | Yes | Commitment | Fee Simple | Individual | Individual |  |  |  |  |  |  |  |  |  |  |  |  | No | Individual | Yes |  | No | Fair Isaac (VER. 2) | FICO Classic V5 Facta | FICO Risk Score Classic 04 |  |  |  |  |  |  |  |  |  |  |  |  |  | No | 45 |  |  | No |  | $0.00 | $0.00 |  |  |  |  |  |  |  |  |  |  |  |  | No | No | No | No | 3 | 360 |
| [Redact] | 10178864 | [Redact] |  | N/A |  |  |  | No | No |  |  |  |  | [Redact] | [Redact] | [Redact] | No | No |  |  |  |  |  |  | US Citizen |  |  |  |  |  |  |  |  | 1 | [Redact] | [Redact] | [Redact] | [Redact] |  |  |  |  |  | 0.000% | 0.000% | 0.000% | [Redact] | 725 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | No | No |  |  |  |  |  |  |  |  |  | DSCR |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 | 0 | 0 | Yes |  | [Redact] |  |  |  | $0.00 | 1 |  |  |  | No | No | [Redact] | 0 |  | 0 | 0 | 0 | 0 |  |  | 0.00 | No | 1.21 | 0.83 |  |  |  |  |  |  |  | [Redact] |  |  | No |  |  |  |  | Yes | Commitment | Fee Simple | Individual | Individual |  |  |  |  |  |  |  |  |  |  |  |  | No | Individual | No |  | No | Fair Isaac (VER. 2) | FICO Classic V5 Facta | FICO Risk Score Classic 04 |  |  |  |  |  |  |  |  |  |  |  |  |  | No | 102.32 |  |  | No |  | $0.00 | $0.00 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | No | No | No | No | 2 | 360 |

---

## Exhibit 99.3

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.3**

![](ex993001.jpg)

**EXECUTIVE SUMMARY**

**MSRM 2026-DSC2**

**By Clarifii LLC on April 17, 2026**

MSRM 2026-DSC2 Due Diligence Narrative Report – PagE \| 1

![](ex993001.jpg)

**CLARIFII CONTACT INFORMATION** 

---

| | |
|:---|:---|
| **Christine Aug** | **Jason Luttenberger** |
| &nbsp;&nbsp;&nbsp;&nbsp;Vice President of Due Diligence | &nbsp;&nbsp;&nbsp;&nbsp;President and Chief Operating Officer |
| &nbsp;&nbsp;&nbsp;&nbsp;Phone: 813.735.4487 | &nbsp;&nbsp;&nbsp;&nbsp;Phone: 917.742.7797 |
| &nbsp;&nbsp;&nbsp;&nbsp;E-mail: Christine.Aug@Clarifii.com | &nbsp;&nbsp;&nbsp;&nbsp;E-mail: Jason.Luttenberger@Clarifii.com |

---

**OVERVIEW**

Clarifii LLC ("Clarifii") conducted an independent third-party pre-securitization due diligence review (the "Review") of 8 Loans (the "Loans") originated by a correspondent lender and acquired by Morgan Stanley Mortgage Capital Holdings LLC and/or its affiliates (the "Client") for the MSRM 2026-DSC2 transaction. The Loans referenced in this narrative report were reviewed between 10/2025 to 01/2026 by Clarifii. This narrative report provides information about the scope of work performed by Clarifii, and the results of Clarifii's review.

**ORIGINATORS**

Origination channels for the Loans in this review:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Origination Channel** | &nbsp;&nbsp;**Loan Count** | &nbsp;&nbsp;**% of Pool** | &nbsp;&nbsp;**Original Balance** |
| &nbsp;&nbsp;Wholesale | &nbsp;&nbsp;8 | &nbsp;&nbsp;100.00% | &nbsp;&nbsp;$1720370.00 |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**8** | &nbsp;&nbsp;**100.00%** | &nbsp;&nbsp;**$1720370.00** |

---

The Review consisted of a population of 8 Loans, with an aggregate principal balance of $1,720,370.00.

**CLARIFII'S THIRD PARTY REVIEW (TPR) SCOPE OF WORK**

The scope of work for this transaction consisted of credit, property valuation, and regulatory compliance reviews, plus a data integrity check, and were performed in accordance with rating agency loan level review standards in place as of the date of the review.

**LOAN SAMPLING**

The Clients defined the sample size and requested Clarifii to perform a random sample of the Loans to be included in the Review. To Clarifii's knowledge, the Review covered 100% of the transaction Loan population.

MSRM 2026-DSC2 Due Diligence Narrative Report – PagE \| 2

![](ex993001.jpg)

The Review was conducted consistent with the criteria for the Nationally Recognized Statistical Rating Organizations ("NRSROs") specified below:

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Identity of NRSRO** | &nbsp;&nbsp;**Title and Date of Criteria** |
| &nbsp;&nbsp;Kroll Bond Rating Agency, LLC | &nbsp;&nbsp;U.S. RMBS Rating Methodology, December 7, 2023 |
| &nbsp;&nbsp;DBRS, Inc. | &nbsp;&nbsp;Third-Party Due Diligence Criteria for U.S. RMBS Transactions, September 30, 2024 |
| &nbsp;&nbsp;S&P Global Ratings | &nbsp;&nbsp;Global Methodology And Assumptions: Assessing Pools Of Residential Loans, January 25, 2019;<br>Global Methodology And Assumptions: Assessing Pools Of Residential Loans--U.S. And Canada Supplement, February 21, 2025 |
| &nbsp;&nbsp;Moody's Investors Service, Inc. | &nbsp;&nbsp;U.S. Residential Mortgage-backed Securitizations, dated as of August 20, 2025 |

---

**DATA INTEGRITY**

Clarifii performed a data comparison review of the data fields provided by the Clients on the Loan tape to the data found in the Loan file as captured by Clarifii. This comparison, when specific data was available, included the following data fields and tolerance levels noted below.

---

| |
|:---|
| &nbsp;&nbsp;**Data Comparison Fields** |
| &nbsp;&nbsp;Borrower 1 First Name |
| &nbsp;&nbsp;Borrower 1 Last Name |
| &nbsp;&nbsp;Borrower 1 SSN |
| &nbsp;&nbsp;Cash Disbursement Date |
| &nbsp;&nbsp;Cash out Include Debt Paid at Close |
| &nbsp;&nbsp;Calculated DSCR |
| &nbsp;&nbsp;First Payment Date |
| &nbsp;&nbsp;Initial Monthly P&I Or IO Payment |
| &nbsp;&nbsp;Interest Only Flag |
| &nbsp;&nbsp;Interest Rate |
| &nbsp;&nbsp;Investor Loan ID |
| &nbsp;&nbsp;Lien Position |
| &nbsp;&nbsp;Loan Amount |
| &nbsp;&nbsp;Loan ID |
| &nbsp;&nbsp;Loan Program |
| &nbsp;&nbsp;Loan Purpose |
| &nbsp;&nbsp;Maturity Date |
| &nbsp;&nbsp;Note Type |
| &nbsp;&nbsp;Number of Units |
| &nbsp;&nbsp;Occupancy |
| &nbsp;&nbsp;Originator Doc Type |
| &nbsp;&nbsp;Prepayment Penalty Total Term |
| &nbsp;&nbsp;Primary Appraised Property Value |
| &nbsp;&nbsp;Property Address |
| &nbsp;&nbsp;Property City |
| &nbsp;&nbsp;Property State |
| &nbsp;&nbsp;Property Type |
| &nbsp;&nbsp;Property Zip Code |
| &nbsp;&nbsp;Qualifying Amortization Term |
| &nbsp;&nbsp;Qualifying CLTV |
| &nbsp;&nbsp;Qualifying FICO |
| &nbsp;&nbsp;Qualifying Housing Debt Income Ratio |
| &nbsp;&nbsp;Qualifying LTV |
| &nbsp;&nbsp;Qualifying Total Debt Income Ratio |
| &nbsp;&nbsp;Qualifying Total Housing Expense PITIA |
| &nbsp;&nbsp;Qualifying Total Reserves Number of Months |
| &nbsp;&nbsp;Reliance Date |
| &nbsp;&nbsp;Reliance Investor |
| &nbsp;&nbsp;Sales Price |

---

MSRM 2026-DSC2 Due Diligence Narrative Report – PagE \| 3

![](ex993001.jpg)

**CREDIT UNDERWRITING**

Clarifii reviewed each Loan file to determine the adherence to defined underwriting or credit extension guidelines, standards, criteria, or other requirements provided by Clients, including, as applicable, Ability to Repay and Qualified Mortgage requirements. The Credit Qualification review consisted of the following:

● **Loan Attributes** 

To determine borrower program eligibility, Clarifii verified the following Loan attributes and, where applicable, recalculated based on the information provided:

– Assets and Reserves

– Gross Income

– Lien Position

– Loan Purpose

– Housing History

– Loan to Value Ratio (LTV) and Combined Loan to Value Ratio (CLTV)

---

| | |
|:---|:---|
| **–** | Monthly Debt |

---

– Occupancy

– Property Type

– Qualifying principal, interest, tax, insurance, and association dues (PITIA)

– Debt to Income Ratio (DTI)

– Residual Income

– Debt Service Coverage Ratio (DSCR)

● **Credit Application** 

Clarifii verified the following items per the Uniform Residential Loan Application Form 1003 (1003):

– All known borrower-owned properties are disclosed on the Real Estate Owned (REO) Section 2

– Borrower(s) employment history

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– Citizenship and eligibility

– First time home buyer status

– The application was signed by all borrowers

– The application was substantially complete

● **Credit History** 

Clarifii verified the following items:

– A credit report or alternative credit history as applicable to Loan type is present for each borrower

– Bankruptcy and foreclosure seasoning

– Captured the monthly consumer debt payments for use in the applicable DTI calculation

– Installment and revolving payment history

– Mortgage/Rental payment history

– Verified and reviewed Real Estate Owned, Office of Foreign Assets Control (OFAC) search, and Fraud Alerts

– Number of tradelines

– Credit Score(s) and Qualifying Score Methodology

● **Employment and Income** 

When applicable, Clarifii determined whether all supporting documentation as required by the guidelines and Ability to Repay/Qualified Mortgage Rule (ATR/QM) were complete and accurate. The documentation was used to verify whether the income used to qualify the Loan was calculated in accordance with the guidelines. Documentation verified employment and income were deemed acceptable if it was a third-party document as required by the guidelines and ATR when applicable and may include:

– Tax returns

– Financial statements

Paystubs

– IRS Form W-2s

– IRS Form 1099

– IRS documents

– Bank statements

– Lease agreements

– Award letters

– Other documentation in Loan file

● **Fraud Review** 

For all Loans, Clarifii utilized the results from an independent, third-party fraud tool as well as information in the Loan file to identify and address any potential misrepresentations including:

– Borrower identity

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Social
 Security inconsistencies

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Borrower
 name variations

– Occupancy

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Borrower
 address history

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Subject
 property ownership history

– Employment

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– Licensing verification with the Nationwide Multistate Licensing System & Registry (NMLS):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Mortgage
 lender/originator

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Loan
 officer

OFAC

● **Asset Review** 

Clarifii assessed whether the asset documentation required by the guidelines and ATR, when applicable, was present in the Loan file and within required timeframe. Documentation used to verify assets for down payment, closing costs, prepaid items and reserves may have included:

– Verification of deposits (VOD)

– Depository account statements

– Stock or security account statements

– Gift funds

– Settlements statements

– Other evidence of conveyance and transfer of funds if a sale of assets was involved

– Other documentation in Loan file

– Asset documents were reviewed to determine any large deposits and appropriate sourcing of funds

● **Property** **Insurance and Taxes** 

Clarifii confirmed the presence of the insurance and tax information for the following:

– Confirmed that the flood certification is for the correct borrower, property, lender, and Loan number and is a "Life of Loan" certification

– Confirmed that the mortgagee clause lists the lender's name and "its successors and assigns"

Confirmed that the premium amount on both the hazard and flood insurance match figures from the DTI calculations

For condominium properties, confirmed that the blanket policy meets the minimum amount of coverage in the guidelines

For properties in a flood zone, per the flood certification, confirmed that flood insurance meets guideline requirements in the file and met the minimum required amount of coverage in the guidelines

– Reviewed Tax Certificate to verify and compare monthly escrows used to calculate DTI matches and taxes are current

Verified that the hazard insurance meets the minimum required amount of coverage in the guidelines

● **Debt Service Coverage Ratio (DSCR)** 

– Calculated DSCR, as required by guidelines

– Confirmed documentation requirements have been met

Summed principal and interest or interest payment, along with taxes, insurance and HOA payments to arrive at monthly property expense. This summed amount is used as the denominator to the monthly lease or estimated lease income, as required by guidelines

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**DOCUMENT REVIEW**

Clarifii reviewed each Loan file and verified if the following documents were included in the file and if the data on these documents was consistent (where applicable):

● **Initial and Final 1003 Application** 

● **Note** 

● **Mortgage/Deed of Trust** 

● **Appraisal** 

● **Sales Contract** 

● **Title Commitment/Policy** 

● **Junior Lien/Subordination Agreement** 

● **Mortgage Insurance** 

● **Underwriting Approval Documentation inclusive, but not limited to documents listed in the Credit Review section** 

● **Flood Certification** 

● **Initial and Final Loan Estimate (LE)** 

● **Initial and Final and Closing Disclosure (CD)** 

● **Post-Consummation Closing Disclosure (PCCD), as applicable** 

**COMPLIANCE REVIEW**

Clarifii reviewed each Loan file, when applicable, and verified that it was consummated in compliance with the applicable federal, state, and local anti-predatory lending statutes in effect at the time of origination of the mortgage loan. Compliance verification and validation that each mortgage Loan met the relevant provisions of:

**Anti-** **Predatory Lending Requirements**, that are imposed by federal, state and/or local statutory, regulatory, or authoritative determinations (e.g., state constitutional provisions, ordinances, interpretations, judicial determinations, etc.) that impose civil or criminal liability upon the Assignee or may cause significant loss severity to the value of the Loan, including the Home Ownership and Equity Protection Act (HOEPA) and any state and local high-cost home loan laws. Assignee shall have the meaning as defined in the Truth in Lending Act (TILA).

**Truth in Lending Act (TILA)**, as amended by HOEPA, 15 U.S.C. §1601 et seq., as implemented by Regulation Z, 12 C.F.R. Part 1026

**Real Estate Settlement Procedures Act (RESPA)**, 12 U.S.C. §2603, as implemented by Regulation X, 12 C.F.R. Part 1024

**Equal Credit Opportunity Act (ECOA)**, 15 U.S.C. §1691, as implemented by Regulation B, 12 C.F.R. §1001.1(b)

● **Compliance Documentation Requirements** 

Clarifii reviewed the following documents as they related to regulatory compliance:

– Initial and final application (1003)

– Note, including all addendums

– Copy of note for any junior liens (if applicable)

– Mortgage / Deed of Trust, including all riders

– Initial, Interim, and Final Loan Estimates (LE)

Initial CD (i.e., the CD required to be received by the borrower(s) at least 3 business days prior to consummation) and re-disclosed CDs (as applicable and permitted by TILA/Regulation Z)

– Notice of Right to Cancel (when applicable)

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– Rate Lock Date

– HOEPA Disclosures (when applicable)

– Initial Escrow Account Disclosure

● **Anti-Predatory Lending (Assignee Liability)** 

Loans were reviewed for violations of federal, state & local high cost, higher-priced and/or consumer finance laws and regulations that carry Assignee Liability, including those defined below. Any Loan that is determined to be classified and/or defined as high cost, higher-priced, subprime, threshold, predatory high risk, covered or similar classification/definition was reported.

● **Compliance Testing of Truth-in-Lending Act (TILA)/Regulation Z Elements** 

Clarifii reverified and retested, when applicable, the following TILA and Regulation Z elements:

**TILA/RESPA Integrated Disclosure Testing (TRID)**

Reviewed and compared LEs and CDs with a report outlining any TILA violations, including a recalculation of disclosed finance charges, principal and interest calculations, proper completion of the Projected Payments table, total of payments, finance charges, amount financed, recalculation of disclosed APR and a review to determine if disclosure differences were within the allowed tolerances and disclosures were provided within the required timeframes. Testing was conducted to fulfill the elements Structured Finance Association (SFA) TRID Compliance Review Scope ("TRID Grid 3.0" v.12/05/2019).

**Right of Rescission** 

Reviewed the TILA Right of Rescission, Notice of Right to Cancel, including a verification of the transaction date and expiration date, ensured proper execution of the Notice of Right to Cancel by all required parties, verified the disbursement date and determined if a full three (3) day rescission period was provided to the borrower(s). The appropriate Model Form was tested according to applicable U.S. Court of Appeals, Circuit Court rulings.

**Qualified Mortgage and Ability to Repay**

Reviewed to ensure the mortgage loan meets the applicable Qualified Mortgage ("QM") and Ability-to-Repay ("ATR") requirements as set forth in regulations promulgated by the Consumer Financial Protection Bureau as found at 12 CFR § 1026.43.

**Real Estate Settlement Procedures Act (RESPA)/Regulation X**

Reviewed to ensure compliance with RESPA/Regulation X documentation and timing requirements in effect at origination of the mortgage loan for RESPA disclosures (Servicing Disclosure Statement; Affiliated Business Arrangement Disclosure; Initial Escrow Disclosure Statement; List of Homeownership Counselling Organizations).

**Equal Credit Opportunity Act (ECOA)/Regulation B**

Confirmed compliance with the January 18, 2014, requirements regarding the disclosure of the right to receive a copy of appraisals within three (3) business days of application, the right to receive a copy of the appraisals at least three (3) business days prior to consummation and any applicable waiver. The disclosure of the right to receive a copy of appraisals was met by the disclosure on the Loan Estimate pursuant to 12 CFR § 1026.27(m)(1).

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**Fair Credit Reporting Act (FRCA)/Regulation V**

Confirmed compliance with the current FCRA/Regulation V requirements regarding risk-based pricing notice, credit score disclosure and Notice to Home Loan Applicant, as applicable.

**Miscellaneous Compliance Testing**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪  ***Mandatory Arbitration*** – Clarifii reported mandatory arbitration provisions present
 in the Loan file.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪  ***Single Premium Credit Insurance*** – Clarifii reported single premium credit insurance
 policies or debt cancellation agreements present in the Loan file.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪  ***State prepayment and late charge restrictions*** – Clarifii reported instances where
 a prepayment penalty that exceeds the state permitted penalty has expired.

● **State and Local Anti-Predatory Requirements** 

The following is an itemization of the current and historical state and local anti-predatory lending requirements, considered customary in secondary market due diligence compliance testing and reviewed by Clarifii:

– Arkansas Home Loan Protection Act, Ark. Stat. Ann. § 23-53-101 et seq.

– California Anti-Predatory Lending ("Covered Loan", Cal. Fin. Code § 4970 et seq.

– California Higher-Priced Mortgage Loan ("CA HPML"), Cal. Fin. Code §4995 et seq.

– Colorado Consumer Equity Protection Act, Colo. Rev. Stat. § 5-3.5-101 et seq.

– Connecticut Abusive Home Loan Lending Practices Act, Conn. Stat. Ann. §36a-746 et seq. and the Responsible Lending and Economic Security Act, Conn. House Bill 5577 (2008).

– Connecticut Nonprime Home Loans, Conn. Gen. Stat. §§ 36a-760 et seq. (2008-2009) and (2009-Current)

District of Columbia Home Loan Protection Act of 2002, D.C. Official Code § 26-1151.01 et seq., as implemented by 20 D.C. Municipal Reg. § 2000.1 et seq. as well as DC Mortgage Disclosure Act of 2007.

– Florida Fair Lending Act, Fla. Stat. Ann. § 494.0078 et seq. (2002 – 2014).

– Georgia Fair Lending Act, Ga. Stat. Ann. § 7-6A-1 et seq. (as originally enacted by House Bill 02-1361 and as modified by Senate Bill 03-53).

– Idaho Residential Mortgage Practices Act, Idaho Code § 26-3101 et seq. (2003).

– Illinois High Risk Home Loan Regulations, 38 Ill. Admin. Code § 345.10 et seq. (Repealed)

– Illinois High Risk Home Loan Act, Public Act. 93-0561 (2003), Ill. Comp. Stat. tit. 815 §§ 137/1 et seq. (2004).

– Illinois Predatory Lending Database Program, Public Act 95-0691 (SB 1167).

– City of Chicago, Illinois, Anti-Predatory Lending Ordinance, Chicago Municipal Code, §§ 2-32-440; 2-32-455; 2-92-325; 4-4-155; 8-4-325.

– Cook County, Illinois, Anti-Predatory Lending Ordinance, Ordinance No. 240864 (2001) as amended by Illinois SB 1167 (2007).

– Indiana Home Loan Practices Act, as amended by HB 1179 (2005) Ind. Code § 24-9-1 et seq.

– Kansas Consumer Credit Code, Section 16a-3-308a, Kan. Stat. Ann. § 16a-1-101 et seq. 16.

– Kentucky Anti-Predatory Lending Statute, as amended by Kentucky House Bill 552 (2008), Ky. Rev. Stat. § 360.100 et seq.

Maine, An Act to Enhance Consumer Protections in Relation to Certain Mortgages, 9A Me. Rev. Stat. Ann. §§ 8-103(1); 8-206(8); 8-206A and Maine Legislative Document 1869 (2007), 2125 (2008) and 1439 (2009), and regulation Z-3.

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Maryland Commercial Law, Mary. Stat. Ann. §§ 12-124.1; 12-127; 12-409.1; 12-1029 and as amended by Maryland Senate Bill 270 (2008) and Maryland Regulations under the Maryland Mortgage Lender Law (2009).

Maryland Regulations for Higher Priced Mortgage Loans, as promulgated under the Maryland Mortgage Lender Law, Md. Code Ann., Fin. Instit. Code §§ 11-501 et seq.; Md. Code Regs. §§ 09.03.06.01 et seq.

– Massachusetts High-Cost Mortgage Regulations, 209 CMR § 32.32 et seq. including MA House Bill 4387 (2008) 20. Massachusetts Predatory Home Loan Practices Act, M.G.L. Chapter 183I.

– Massachusetts "Borrower's Interest" Standard, M.G.L. Chapter 183, §28C.

– Massachusetts Mortgage Lender and Broker Regulations, 940 CMR § 8.00 (15-17).

– Massachusetts Regulations for Higher Priced Mortgage Loans, 209 Mass. Code Regs. §§ 32.00 et seq.

– Massachusetts Subprime ARMs to First Time Homebuyers, M.G.L. Chapter 184, §17B.5.

– Michigan Consumer Mortgage Protection Act, Mich. Stat. Ann. § 445-1631 et seq.

– Minnesota Mortgage Originator and Service Licensing Act, § 58.137 et al. (S.F. 2988 (2002) and as amended by House File 1004 and SF 98 (2007) and SF 3154 and 3214 (2008).

– Nebraska Mortgage Bankers Registration and Licensing Act, Neb. Stat.§ 45-702 et seq.

– Nevada Anti-Predatory Lending Law, AB No. 284 (2003), as amended by AB 4 (2007), Nev. Rev. Stat. § 598D.010 et seq.

– New Jersey Home Ownership Security Act of 2002, NJ Stat. Ann. § C:46:10B-22 et seq.

– New Mexico Home Loan Protection Act, SB 449 (2003) and as amended by SB 342 (2009), N.M. Stat. Ann. § 58-21A-1 et seq.

– New York High-Cost Home Loan Regulations (1A – Original Part 41), 3 NYCCR Part 41 (2001).

– New York High-Cost Home Loan Act (1B - § 6-l), N.Y. Bank. L. Ch. 626., as implemented by 3 NYCCR Part 41 (2003) and as amended by Senate Bill 8143-A (2008).

– New York Subprime Home Loans, NY Bank. Law § 6-m.

North Carolina Anti-Predatory Lending Law, N.C. Gen. Stat. §§ 24-1.1A to 24-10.2 and North Carolina Amendments to Anti-Predatory Lending Law, N.C. Gen. Stat. §§ 24-9; 24-1.1I(a); 24-10.2(a) as amended.

– Ohio Anti-Predatory Lending Statute, HB 386, as amended by S.B. 185 (2006), Ohio Rev. Code Ann. § 1.63.

– Ohio Consumer Sales Practices Act, Ohio Rev. Code Ann. § 1345.01, as implemented by Ohio Admin. Rules § 109 4-3-01 et seq.

– City of Cleveland Heights, Ohio, Anti-Predatory Lending Ordinance, Ordinance No. 72-2003.

– Summit County, Ohio, Anti-Predatory Lending Ordinance, Ordinance No. 2004-618, Muni. Code §§ 201.01 et seq.

– Oklahoma Anti-Predatory Lending Law, House Bill No. 1574 (2003).

– Oklahoma Higher-Priced Mortgage Loans Law, Okla. Admin. Code §§ 160:45-9-1 et seq.

– Pennsylvania Consumer Equity Protection Act, 63 Pa. Cons. Stat. Ann. § 456.501 et seq.

– City of Providence, Rhode Island Predatory Lending Ordinance, Ordinance No. 245, Chapter 2006-33 as amended.

Rhode Island Home Loan Protection Act, Chapter 25.2 of Title 34 of RI Gen. L. et seq., as implemented by Emergency Banking Regulation 3 (2006) and Final Banking Regulation 3 (2007) and amended by Senate Bill 371 (2007).

– South Carolina High-Cost and Consumer Home Loans Act, S.C. Code § 37-23-10 et seq.

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– South Carolina Consumer Protection Code, S.C. Code 37-1-101 et seq.

– Tennessee Home Loan Protection Act of 2006, TN Code Annotated, Title 47 et seq.

– Texas High-Cost Home Loan Statute, TX. Fin. Code Ann. § 343.201 et seq.

– The disclosure requirements and prohibitions of Section 50(a)(6) and 50(f)(2) of Article XVI of the Texas Constitution

– Utah Residential Mortgage Practices Amendments, Utah Code Ann. § 61- 2c-102 et seq.

– Utah High Cost Home Loan Act, Utah Code § 61-2d-101 et seq.

– Vermont Interest Act, 9 V.S.A. § 104, implemented by Regulation B-98-2.

– Virginia Mortgage Lender and Broker Act (for Loans originated prior to July 1, 2003), Va. Code Ann. §§ 6.1-413; 6.1-422, 6.1-428.

– Virginia Mortgage Lender and Broker Act (for Loans originated after July 1, 2003), Va. Code Ann. §§ 6.1-411; 6.1-422.1, 6.1-425.1; 6.1-425.2.

– Washington House Bill 2770, Mortgage Lending and Homeownership, Chapter 108, Laws of 2008.

– West Virginia Residential Mortgage Lender, Broker and Servicer Act, W.Va. Code § 31-17-1 et seq.

– Wisconsin Responsible High Cost Mortgage Lending Act, Wis. Stat. § 428.202.

– Wyoming Credit Code, Wyo. Stat. Ann. §§ 40-14-101 et seq.

● **Business Purpose Loan Compliance Review** 

– Non-Owner Occupied Declaration Disclosure

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Verify
 reflects correct address

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Verify
 application address is different from subject property

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Verify
 executed by all borrowers

– Review Note accuracy and properly executed

– Review Mortgage and applicable riders for accuracy and properly executed

– Occupancy Letter (must state that borrower(s) will not reside in the property

– HMDA section (Information for Government Monitoring Purposes) of the application (initial and/or final)

– If property is in a flood zone, Flood Notice must be provided prior to closing

– Right to Receive Copy of Appraisal or Appraisal Waiver Disclosure

– Letter of Explanation detailing the use of proceeds.

– Borrower's statement of purpose for the Loan.

– State License requirements when applicable

– State Predatory lending and high cost when applicable

**QUALIFIED MORTGAGE (QM)**

With respect to QM (Safe Harbor and Rebuttable Presumption) designated Loans, Clarifii reviewed the Loan to determine whether, based on available information in the Loan file, (i) the Loan contained risky Loan features and terms (e.g. an interest only feature or negative amortization), (ii) the "points and fees" exceeded the applicable QM threshold, (iii) the monthly payment was calculated appropriately, (iv) the creditor considered and verified income or assets at or before consummation, (v) the creditor appropriately considered debt obligations, alimony and child support, and (vi) at the time of consummation, if the debt-to-income ratio exceeded 43% (calculated in accordance with Appendix Q to Regulation Z). This portion of the Review included a recalculation of all income and liabilities with attention to the appropriate documentation of each source.

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If a Loan was designated as QM and identified as eligible for guarantee, purchase, or insurance by an applicable Agency, as permitted under the QM final rule, Clarifii reviewed the Loan to determine whether, based on available information in the Loan file the Loan satisfied (i), (ii) and (iii) in the preceding paragraph and reviewed the Automated Underwriting System output within the file to confirm agency eligibility.

For each QM designated Loan that satisfied the applicable requirements enumerated above, Clarifii then determined whether the Loan was a Safe Harbor QM or Rebuttable Presumption QM by comparing the Loan's actual annual percentage rate, as recalculated, to the applicable average prime offer rate plus a certain applicable percentage.

**ABILITY TO REPAY (ATR)**

Clarifii reviewed the Loan to determine whether, based on available information in the Loan file, the creditor considered, as applicable, the following eight underwriting factors, and verified such information using reasonably reliable third-party records, at or before consummation: (i) the consumer's current or reasonably expected income or assets, (ii) if the creditor relied on income from the consumer's employment in determining repayment ability, the consumer's current employment status; (iii) the consumer's monthly payment; (iv) the consumer's monthly payment on any simultaneous Loan that the creditor knows or has reason to know will be made; (v) the consumer's monthly payment for mortgage-related obligations; (vi) the consumer's current debt obligations, alimony, and child support; (vii) the consumer's monthly debt-to-income ratio or residual income; and (viii) the consumer's credit history. This portion of the Review also focused on full recalculation of income and debts, as well as the documentation provided to support each item used in originator's determination of the ability to repay.

*Note: for Loans designated as QM – Agency eligible (QM – Temporary), Clarifii did not review for compliance with the requirements of Appendix Q or General Ability to Repay.*

Clarifii reviewed Loans to determine their conformity with the ATR/QM factors above, and did not render an independent assessment or opinion, warranty or represent that a Loan will be deemed to conform to Safe Harbor, Rebuttable Presumption, ATR, or other status based on any additional or revised factors that may be considered by legislative, regulatory, administrative, or judicial authorities (Authorities). Clarifii does not represent or warrant that the factors for which it has reviewed that the Loans constitute all the factors and/or criteria that Authorities may consider in determining the status of a Loan.

Clarifii's review was based on information contained in the Loan file at the time it was provided for review.

All Loans in the population reviewed by Clarifii were investment properties and were found to not be ATR/QM applicable.

**VALUATION REVIEW**

Clarifii reviewed all appraisals and alternative value tools used to qualify the Loan for reasonableness of estimated value, comparable sales, completeness of data and eligibility of the appraiser, compared to underwriting guidelines, variances, and tolerances. Clarifii determined that the appraised value appeared to be supported, based on the valuation provided by the Independent Third-party Review.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA)**<br> Clarifii checked for the presence of the appraiser's license and reviewed for the presence of any red flags related to the mortgaged property that may have posed a risk to the property or occupants.<br>

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Uniform Standards of Professional Appraisal Practice (USPAP)**<br> Clarifii confirmed the appraiser's certification is present and executed within the original appraisal.<br>

**INDEPENDENT THIRD-PARTY VALUES**

Clarifii applied a cascade methodology to determine if the original appraisal value was reasonably supported when compared to an independent third-party valuation product.

**Valuation Reconciliation Process:**

● If the AVM (Automated Valuation Model) supported the origination appraised value within -10% variance, no additional products were required.

● If the Desk Review supported the origination appraised value within a -10% variance, no additional products were required.

● In the event the Desk Review process yielded material exceptions or had a value exceeding a negative ten percent (-10%) variance, a field review was ordered to further establish the supported value, unless guidelines allowed for the use of the lower Desk Review or Broker Price Opinion value for purpose of LTV/CLTV/HCLTV.

**Uniform Collateral Data Portal (UCDP) Risk Score:**

● For Loans with a Fannie Mae Collateral Underwriter Score (CU), if an CU Score was available and the CU Score was greater than 2.5, a Desk Review was either reviewed in the Loan file or ordered by Clarifii. If the CU Score was less than or equal to 2.5, a Desk Review was not obtained/required based on market acceptance of UCDP Risk Score.

● For Loans with a Freddie Mac Loan Collateral Advisor Score (LCA), if an LCA Score was available and the LCA Score was greater than 2.5, a Desk Review was either reviewed in the Loan file or ordered by Clarifii. If the LCA Score was less than or equal to 2.5, a Desk Review was not obtained/required based on market acceptance of UCDP Risk Score.

**VALUATION RESULTS SUMMARY**

The table below summarizes the Loans that contained independent third-party valuation product as well as Loans with acceptable UCDP Risk Scores:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Valuation Product** | &nbsp;&nbsp;**# of Files – No Hit** | &nbsp;&nbsp;**# of Files > -10% Variance to OA or Confidence < 80%** | &nbsp;&nbsp;**Number of Files within -10% of OA or Acceptable UCDP Risk Score \*** |
| &nbsp;&nbsp;AVM | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;BPO | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;LCA and/or CU Score <=2.5 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;3 |
| &nbsp;&nbsp;Desk Review | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;5 |
| &nbsp;&nbsp;Field Review | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Second Full Appraisal | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |

---

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**DUE DILIGENCE GRADING CRITERIA** 

Upon completion of the Loan file due diligence review, Clarifii assigned comprehensive grading that considers critical factors based on the specific review completed, in addition to product, clients, and rating agency requirements.

The National Recognized Statistical Rating Organizations (NRSRO) criteria referenced for this report and utilized for grading descriptions is based upon the NRSRO listed in the Asset-Backed Securities Form ABS Due Diligence-15E.

**Final Event Grade**

---

| | |
|:---|:---|
| **A** | Loan meets Credit, Compliance, and Valuation Guidelines. |
| **B** | The Loan materially meets published Client/Seller guidelines and/or eligibility in the validation of income, assets, or credit, is in material compliance with all applicable laws and regulations, and the value and valuation methodology is supported and materially meets published guidelines. |
| **C** | The Loan does not meet the published guidelines and/or violates one material law or regulation, and/or the value and valuation methodology is not supported or did not meet published guidelines. |
| **D** | Loan is missing documentation to perform a sufficient review. |

---

**Credit Event Grade**

---

| | |
|:---|:---|
| **A** | The Loan meets the published guidelines without any exceptions. The employment, income, assets, and occupancy are supported and justifiable. The borrower's willingness and ability to repay the Loan is documented and reasonable. |
| **B** | The Loan materially meets the published guidelines, but reasonable compensating factors were considered and documented for exceeding published guidelines. The employment, income, assets, and occupancy are supported and justifiable. The borrower's willingness and ability to repay the Loan is documented and reasonable. |
| **C** | The Loan does not materially meet the published guidelines. There are not sufficient compensating factors that justify exceeding the published guidelines. The employment, income, assets, or occupancy are not supported and justifiable. The borrower's willingness and ability to repay the Loan were not documented or are unreasonable. |
| **D** | There was not sufficient documentation to perform a review, or the credit file was not furnished. |

---

**Valuation Event Grade**

---

| | |
|:---|:---|
| **A** | The value is supported within 10% of the original appraisal by supporting documents (CDA, Field Review or Second Appraisal). The appraisal was performed on an "as-is" basis and the property is complete and habitable at origination. The appraiser was appropriately licensed and used Government-Sponsored Enterprise (GSE) approved forms. |
| **B** | The value is not supported within 10% of the original appraisal by supporting documents and there are no other valuation support documents provided. The valuation methodology substantially meets the published guidelines, but reasonable compensating factors were considered and documented for exceeding guidelines. The appraisal was performed on an "as-is" basis and the property is complete and habitable. The appraiser was appropriately licensed and used GSE approved forms. |
| **C** | The value is not supported within 10% of the original appraisal. The valuation methodology did not meet the published guidelines and there were not sufficient compensating factors for exceeding published guidelines. The property is in below "average" condition, or the property is not complete or requires significant repairs. The appraisal was not performed on an "as is" basis. The appraiser was not appropriately licensed or did not use GSE approved forms. |
| **D** | The file was missing the appraisal or there was not sufficient valuation documentation to perform a review. |

---

MSRM 2026-DSC2 Due Diligence Narrative Report – PagE \| 14

![](ex993001.jpg)

**Compliance Event Grade** 

---

| | |
|:---|:---|
| **A** | The Loan is compliant with all applicable laws and regulations. The legal documents accurately reflect the agreed upon Loan terms and are executed by all applicable parties. |
| **B** | The Loan is in material compliance with all applicable laws and regulations. The legal documents accurately reflect the agreed upon Loan terms and are executed by all applicable parties. Client review required. |
| **C** | The Loan violates one material law or regulation. The material disclosures are missing, or the legal documents do not accurately reflect the agreed upon Loan terms or all required applicants did not execute the documents. |
| **D** | There was not sufficient documentation to perform a review, or the required legal documents were not furnished. |

---

**CLARIFII DUE DILIGENCE RESULTS**

Below are the final overall Loan grades for this review, as well as the credit, property valuation, and regulatory compliance component review grades.

**Final Overall Loan Grade Results**

---

| | | |
|:---|:---|:---|
| **Overall Review Results** | **Overall Review Results** | **Overall Review Results** |
| **Overall Grade** | **Loan Count** | **% of Sample** |
| A | 6 | 75.00% |
| B | 2 | 25.00% |
| C | 0 | 0.00% |
| D | 0 | 0.00% |
| **Total** | 8 | 100.00% |

---

The overall grade summary reflects the combination of the credit, property valuation and regulatory compliance component reviews into one overall grade. The overall grade assigned is the most severe grade from each of the component reviews.

MSRM 2026-DSC2 Due Diligence Narrative Report – PagE \| 15

![](ex993001.jpg)

**Final Credit Component Grade Results**

---

| | | |
|:---|:---|:---|
| **Credit Grade Summary** | **Credit Grade Summary** | **Credit Grade Summary** |
| **Credit Grade** | **Loan Count** | **% of Sample** |
| A | 6 | 75.00% |
| B | 2 | 25.00% |
| C | 0 | 0.00% |
| D | 0 | 0.00% |
| **Total** | 8 | 100.00% |

---

**Final Property Valuation Grade Results**

---

| | | |
|:---|:---|:---|
| **Property Grade Summary** | **Property Grade Summary** | **Property Grade Summary** |
| **Property Grade** | **Loan Count** | **% of Sample** |
| A | 8 | 100.00% |
| B | 0 | 0.00% |
| C | 0 | 0.00% |
| D | 0 | 0.00% |
| **Total** | 8 | 100.00% |

---

**Final Regulatory Compliance Grade Results**

---

| | | |
|:---|:---|:---|
| **Compliance Grade Summary** | **Compliance Grade Summary** | **Compliance Grade Summary** |
| **Compliance Grade** | **Loan Count** | **% of Sample** |
| A | 8 | 100.00% |
| B | 0 | 0.00% |
| C | 0 | 0.00% |
| D | 0 | 0.00% |
| **Total** | 8 | 100.00% |

---

**ADDITIONAL LOAN SUMMARY DETAILS**

**Amortization Type**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Amortization Type** | &nbsp;&nbsp;**Loan Count** | &nbsp;&nbsp;**% of Pool** | &nbsp;&nbsp;**Original Balance** |
| &nbsp;&nbsp;Fixed | &nbsp;&nbsp;8 | &nbsp;&nbsp;100.00% | &nbsp;&nbsp;$1720370.00 |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**8** | &nbsp;&nbsp;**100.00%** | &nbsp;&nbsp;**$1720370.00** |

---

MSRM 2026-DSC2 Due Diligence Narrative Report – PagE \| 16

![](ex993001.jpg)

**Occupancy**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Occupancy** | &nbsp;&nbsp;**Loan Count** | &nbsp;&nbsp;**% of Pool** | &nbsp;&nbsp;**Original Balance** |
| &nbsp;&nbsp;Investment | &nbsp;&nbsp;8 | &nbsp;&nbsp;100.00% | &nbsp;&nbsp;$1720370.00 |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**8** | &nbsp;&nbsp;**100.00%** | &nbsp;&nbsp;**$1720370.00** |

---

**Loan Purpose**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Loan Purpose** | &nbsp;&nbsp;**Loan Count** | &nbsp;&nbsp;**% of Pool** | &nbsp;&nbsp;**Original Balance** |
| &nbsp;&nbsp;Refinance | &nbsp;&nbsp;5 | &nbsp;&nbsp;62.50% | &nbsp;&nbsp;$1144950.00 |
| &nbsp;&nbsp;Purchase | &nbsp;&nbsp;3 | &nbsp;&nbsp;37.50% | &nbsp;&nbsp;$575420.00 |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**8** | &nbsp;&nbsp;**100.00%** | &nbsp;&nbsp;**$1720370.00** |

---

**Lien Position**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Lien Position** | &nbsp;&nbsp;**Loan Count** | &nbsp;&nbsp;**% of Pool** | &nbsp;&nbsp;**Original Balance** |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;8 | &nbsp;&nbsp;100.00% | &nbsp;&nbsp;$1720370.00 |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**8** | &nbsp;&nbsp;**100.00%** | &nbsp;&nbsp;**$1720370.00** |

---

**Original Term**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Original Term** | &nbsp;&nbsp;**Loan Count** | &nbsp;&nbsp;**% of Pool** | &nbsp;&nbsp;**Original Balance** |
| &nbsp;&nbsp;480 | &nbsp;&nbsp;2 | &nbsp;&nbsp;25.00% | &nbsp;&nbsp;$395200.00 |
| &nbsp;&nbsp;360 | &nbsp;&nbsp;6 | &nbsp;&nbsp;75.00% | &nbsp;&nbsp;$1325170.00 |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**8** | &nbsp;&nbsp;**100.00%** | &nbsp;&nbsp;**$1720370.00** |

---

MSRM 2026-DSC2 Due Diligence Narrative Report – PagE \| 17

![](ex993001.jpg)

**DATA COMPARE RESULTS**

Clarifii provided Clients with a copy of the Loan Level Data Compare Report which shows the differences between the data received by the sellers versus the data captured by Clarifii during the Loan review.

**Summary of Data Compare Results**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Data Comparison Fields** | &nbsp;&nbsp;**Loans With Discrepancy** | &nbsp;&nbsp;**Total Times Compared** | &nbsp;&nbsp;**Accuracy %** |
| &nbsp;&nbsp;Borrower 1 First Name | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Borrower 1 Last Name | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Borrower 1 SSN | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Cash Disbursement Date | &nbsp;&nbsp;2 | &nbsp;&nbsp;6 | &nbsp;&nbsp;66.67% |
| &nbsp;&nbsp;Cash out Include Debt Paid at Close | &nbsp;&nbsp;0 | &nbsp;&nbsp;5 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Calculated DSCR | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;First Payment Date | &nbsp;&nbsp;0 | &nbsp;&nbsp;8 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Initial Monthly P&I Or IO Payment | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Interest Only Flag | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Interest Rate | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Investor Loan ID | &nbsp;&nbsp;8 | &nbsp;&nbsp;8 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;Lien Position | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Loan Amount | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Loan ID | &nbsp;&nbsp;0 | &nbsp;&nbsp;8 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Loan Program | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Loan Purpose | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Maturity Date | &nbsp;&nbsp;0 | &nbsp;&nbsp;8 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Note Type | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Number of Units | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Occupancy | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Originator Doc Type | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Prepayment Penalty Total Term | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Primary Appraised Property Value | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Property Address | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Property City | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Property State | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Property Type | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Property Zip Code | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Qualifying Amortization Term | &nbsp;&nbsp;1 | &nbsp;&nbsp;6 | &nbsp;&nbsp;83.33% |
| &nbsp;&nbsp;Qualifying CLTV | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Qualifying FICO | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Qualifying Housing Debt Income Ratio | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Qualifying LTV | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Qualifying Total Debt Income Ratio | &nbsp;&nbsp;0 | &nbsp;&nbsp;6 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Qualifying Total Housing Expense PITIA | &nbsp;&nbsp;3 | &nbsp;&nbsp;6 | &nbsp;&nbsp;50.00% |
| &nbsp;&nbsp;Qualifying Total Reserves Number of Months | &nbsp;&nbsp;1 | &nbsp;&nbsp;6 | &nbsp;&nbsp;83.33% |
| &nbsp;&nbsp;Reliance Date | &nbsp;&nbsp;8 | &nbsp;&nbsp;8 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;Reliance Investor | &nbsp;&nbsp;8 | &nbsp;&nbsp;8 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;Sales Price | &nbsp;&nbsp;0 | &nbsp;&nbsp;1 | &nbsp;&nbsp;100.00% |

---

**CLARIFII THIRD PARTY REPORTS DELIVERED**

Clarifii furnished the following reports on this transaction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Narrative
Report/Executive Summary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Attestation
Forms

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. ASF
Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Rating
Agency Grade Detail and Summary Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Data
Compare Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Valuations
Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Rating
Agency ATR/QM Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Supplement
Data Extract

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Business
Purpose Supplement Data Extract Report

MSRM 2026-DSC2 Due Diligence Narrative Report – PagE \| 18

![](ex993001.jpg)

**Disclaimer**

*Clarifii LLC ("the Company") performs due diligence reviews for Residential Mortgage-Backed Securities, as well as, assets, collateral, counterparty operations, and similar diligence reviews in the consumer finance industry. In issuing reports and maintaining the ratings provided for herein, the Company relies on factual information it receives from issuers, underwriters, and from other sources which the Company reasonably believes to be credible. The Company conducts reasonable investigation of the factual information relied upon by it in accordance with its ratings methodology. The Company also makes reasonably good faith attempts to verify the information from independent sources (to the extent such sources are available).*

*Please be advised that Clarifii has not determined whether the Loans comply with federal, state, or local laws, constitutional provisions, regulations or ordinances, including, but not limited to, licensing and general usury laws that set rate and/or fee limitations, unless listed above. Clarifii's review is focused on issues that raise concerns for secondary market investors and other assignees, based on potential for assignee liability, an adverse impact on the lien, and regulatory, litigation and headline risk. Clarifii's review is not designed to fully test a lender's compliance with all applicable disclosure and licensing requirements. The findings reached by Clarifii are dependent upon its receiving complete and accurate data regarding the Loans from Loan originators and other third parties. Please be further advised that Clarifii and its employees do not engage in the practice of law, and the findings set forth in the reports prepared by Clarifii do not constitute legal advice or opinions.*

*Ratings, analysis, reports, and other opinions (referred to collectively as "Reports") issued by the Company are provided "as is" and without representation or warranty of any kind. The Company hereby disclaims any representation or warranty (whether express or implied) as to accuracy, completeness, merchantability, or fitness for a particular purpose. Reports are not a recommendation to buy, sell, or retain any security. All reports are deemed jointly prepared, and no individual shall be exclusively deemed the "author" of any Report. Individuals identified in a Report were involved in, but are not solely responsible for, the contents of any Report.*

*Unless expressly stated otherwise, Reports do not assess any risk other than credit risk. In particular, any rating or grading in a Report does not take into consideration the risk of any security (or any portion thereof) due to changes in market conditions.*

*The Company does not provide investment, legal, or tax advice, and the Reports may not be construed as such. Reports are issued for the benefit of the entity requesting the Report, only, and may not be used by third parties without the express written consent of the Company and the requesting party. Reports are based on available information and current regulations as of the date of the Report, and the Company disclaims any obligation to update Reports due to a change of fact of regulation which occurs after the date of issuance.*© 2026 Clarifii LLC. All rights reserved.

MSRM 2026-DSC2 Due Diligence Narrative Report – PagE \| 19

## Exhibit 99.3

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.3 - Schedule 1**

---

| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Loan ID** | **Seller Loan ID** | **Redaction ID** | **Queue** | **Finding Code** | **Date Created** | **Date Modified** | **Finding Status** | **Event Level** | **Finding Category** | **Finding Sub Category** | **Finding Name** | **Finding Comments** | **Seller Comments** | **Resolution Comments** | **Reviewer Comp Factor** | **Originator Comp Factors** | **Finding Documents** | **Originator QM Status** | **Final Reviewed QM Status** | **Loan Amount** | **Property State** | **Occupancy** | **Loan Purpose** | **Refinance Purpose** | **Acknowledged / WaivedBy** | **Waiver in File?** | **Unique Finding ID** |
| XXXX | XXXX | 10178882 C A | Closed | FCRE1440 | 2025-10-20 12:28 | 2025-12-18 16:11 | Resolved | 1 - Information C A | Credit | Eligibility | Housing History Does Not Meet Guideline Requirements | Resolved-Mortgage statement for primary residence provided in the spouses name. - Due Diligence Vendor-12/18/2025 <br> Ready for Review-Document Uploaded. please find payoff showing next due date of XXXX paid, please clear. - Seller-11/03/2025 <br> Counter-Missing subject September Payment, and Mortgage history/Free and clear for the primary residence. - Due Diligence Vendor-10/24/2025 <br> Ready for Review-Document Uploaded. please find note and payments as the mtg was started in XXXX, please clear. - Seller-10/22/2025 <br> Open-Housing History Does Not Meet Guideline Requirements It is unknown whether or not the borrower's primary residence is secured with a mortgage as the 1003 application does not address this. The subject property was secured with a mortgage with XXXX. No verification of the mortgage payments for this mortgage was identified in the file. - Due Diligence Vendor-10/20/2025 | Ready for Review-Document Uploaded. please find payoff showing next due date of XXXX paid, please clear. - Seller-11/03/2025 <br> Ready for Review-Document Uploaded. please find note and payments as the mtg was started in XXXX, please clear. - Seller-10/22/2025 | Resolved-Mortgage statement for primary residence provided in the spouses name. - Due Diligence Vendor-12/18/2025<br>| Months Reserves exceed minimum required - 6 months required, subject 52 months <br>Long term residence - 5 years at residence |  | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Refinance | Cash Out - Other | N/A | N/A | 5947934 |
| XXXX | XXXX | 10178882 C A | Closed | FCRE1510 | 2025-10-20 09:23 | 2025-10-24 16:03 | Resolved | 1 - Information C A | Credit | Closing | Issues exist on the Mortgage Document (Deed of Trust) | Resolved-Received all pages of the DOT. - Due Diligence Vendor-10/24/2025 <br>Ready for Review-Document Uploaded. please find the full dot - Seller-10/22/2025 <br>Open-There are Issues Present on the Mortgage Document (Deed of Trust) that must be addressed. DOT not signed or notarized. A copy of the mortgage that is notarized is on page 501 but it is missing page 21 of 21 - Due Diligence Vendor-10/20/2025 | Ready for Review-Document Uploaded. please find the full dot - Seller-10/22/2025<br>| Resolved-Received all pages of the DOT. - Due Diligence Vendor-10/24/2025<br>| Months Reserves exceed minimum required - 6 months required, subject 52 months <br>Long term residence - 5 years at residence |  | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Refinance | Cash Out - Other | N/A | N/A | 5945072 |
| XXXX | XXXX | 10178832 C A | Closed | FPRO9999 | 2025-11-22 13:20 | 2025-12-04 16:01 | Resolved | 1 - Information C A | Credit | Eligibility | Condo project has pending litigation | Resolved-Lender provided proof from HOA this was not a safety issue - Due Diligence Vendor-12/04/2025 <br> Ready for Review-Document Uploaded. Per the XXXX. "The litigation has nothing to do with safety, structure or functionality of the condominiums. It is a harassment claim." Please clear finding. - Seller-12/02/2025 <br> Open-The condo project has pending litigation. Per email from insurance company, the litigation is for non-monetary issues. The insurance company is providing a defense and there are ample limited to handle an adverse decision if there is one. Missing confirmation for reason of lawsuit, and if it relates to safety, structure or functionality. Additional findings may apply. - Due Diligence Vendor-11/24/2025 | Ready for Review-Document Uploaded. Per the XXXX. "The litigation has nothing to do with safety, structure or functionality of the condominiums. It is a harassment claim." Please clear finding. - Seller-12/02/2025 | Resolved-Lender provided proof from HOA this was not a safety issue - Due Diligence Vendor-12/04/2025<br>| LTV is less than guideline maximum - Required is 70 Borrower has 61.2<br>Qualifying FICO score is at least 20 points above minimum for program - 650 qualifying FICO score is 20+ points above 620 minimum |  | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Purchase | NA | N/A | N/A | 6354519 |
| XXXX | XXXX | 10178832 C A | Closed | FCRE1176 | 2025-11-22 13:24 | 2025-12-04 15:57 | Resolved | 1 - Information C A | Credit | Insurance | HO6 Insurance Policy Effective Date is after the Note Date | Resolved-Loan funded on XXXX. HOI is acceptble - Due Diligence Vendor-12/04/2025 <br> Ready for Review-Document Uploaded. The loan was funded on XXXX, see ledger and final H06 insurance. Please clear finding. - Seller-12/02/2025 <br> Open-Missing HO6 policy dated on or prior to note date - Due Diligence Vendor-11/22/2025 | Ready for Review-Document Uploaded. The loan was funded on XXXX, see ledger and final H06 insurance. Please clear finding. - Seller-12/02/2025 | Resolved-Loan funded on XXXX. HOI is acceptble - Due Diligence Vendor-12/04/2025 | LTV is less than guideline maximum - Required is 70 Borrower has 61.2<br>Qualifying FICO score is at least 20 points above minimum for program - 650 qualifying FICO score is 20+ points above 620 minimum |  | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Purchase | NA | N/A | N/A | 6354524 |
| XXXX | XXXX | 10178826 D A | Closed | FCRE1145 | 2025-12-02 08:41 | 2025-12-08 17:36 | Resolved | 1 - Information D A | Credit | Missing Doc | Title Document Missing | Resolved-Received Commitment - Due Diligence Vendor-12/08/2025 <br>Ready for Review-Document Uploaded. Commitment provided, please clear funding. - Seller-12/04/2025 <br>Open-Title Document is missing The loan file is missing the preliminary title. Upon receipt, additional conditions may apply. - Due Diligence Vendor-12/02/2025 | Ready for Review-Document Uploaded. Commitment provided, please clear funding. - Seller-12/04/2025<br>| Resolved-Received Commitment - Due Diligence Vendor-12/08/2025<br>| Months Reserves exceed minimum required - 3 months reserves required. Borrower has 53.71 months reserves.<br>DSCR =/> 1.00 and minimum is 0.85 or Less - Minimum required DSCR is 0. Borrower has 1.002. Required is 0 Borrower has 1.002 |  | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Refinance | Cash Out - Other | N/A | N/A | 6443243 |
| XXXX | XXXX | 10178817 C A | Closed | FCRE0185 | 2025-12-03 13:36 | 2025-12-05 12:43 | Resolved | 1 - Information C A | Credit | Eligibility | Loan missing Desk Review as required per Guidelines | Resolved-Received desk review. - Due Diligence Vendor-12/05/2025 <br>Ready for Review-Document Uploaded. please find dvr - Seller-12/04/2025 <br>Open-Loan missing Desk Review as required per Guidelines. CU score is 2.1. Desk Review is required for CU score higher than 2.0. - Due Diligence Vendor-12/03/2025 | Ready for Review-Document Uploaded. please find dvr - Seller-12/04/2025<br>| Resolved-Received desk review. - Due Diligence Vendor-12/05/2025<br>| LTV is less than guideline maximum - LTV 75% is lower than maximum allowable of 80% LTV. Required is 80 Borrower has 75<br>Qualifying FICO score is at least 20 points above minimum for program - Mid FICO 728 is higher than the required 640 Required is 640 Borrower has 728 |  | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Refinance | Cash Out - Other | N/A | N/A | 6469771 |
| XXXX | XXXX | 10178814 C B A | Closed | FCRE1194 | 2025-12-05 08:25 | 2025-12-30 09:15 | Waived | 2 - Non-Material C B | Credit | Eligibility | Audited LTV Exceeds Guideline LTV | Waived-Originator waiver applied to non-material finding with compensating factors. To allow the LTV at 68% versus 60% per guidelines due to reduction due to arms length. - Due Diligence Vendor-12/30/2025 <br> Ready for Review-Document Uploaded. please find exception for review. - Seller-12/24/2025 <br> Counter-Non-Arms Length transactions require 10% LTV reduction. Seller is XXXX. - Due Diligence Vendor-12/23/2025 <br> Ready for Review-this is not a non arms length transaction, this is gift of equity and is not out of gude lines, please clear. - Seller-12/19/2025 <br> Open-Audited LTV of 68.45% exceeds Guideline LTV of 60% Borrower qualifies for 70% LTV. Non-Arms Length transactions require 10% LTV reduction (guides page 122). Seller is XXXX. - Due Diligence Vendor-12/05/2025 | Ready for Review-Document Uploaded. please find exception for review. - Seller-12/24/2025 <br>Ready for Review-this is not a non arms length transaction, this is gift of equity and is not out of gude lines, please clear. - Seller-12/19/2025<br>| Waived-Originator waiver applied to non-material finding with compensating factors. To allow the LTV at 68% versus 60% per guidelines due to reduction due to arms length. - Due Diligence Vendor-12/30/2025<br>| Qualifying FICO score is at least 20 points above minimum for program - Required is 620 Borrower has 659<br>Months Reserves exceed minimum required - 3 required, subject 6.26.months | 0x30x48<br> Required is 620 Borrower has 659<br> 3 months reserves required, borrower having 6.26.months | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Purchase | NA | Originator Post-Close | Yes | 6500527 |
| XXXX | XXXX | 10178814 C B A | Closed | FCRE6844 | 2025-12-05 07:35 | 2025-12-12 14:41 | Resolved | 1 - Information C A | Credit | Assets | Gift Funds General | Resolved-Received gift letter. - Due Diligence Vendor-12/12/2025 <br> Ready for Review-Document Uploaded. please find gift letter - Seller-12/11/2025 <br> Open-The borrower received XXXX in gift of equity and XXXX cash as a gift. A gift letter for the XXXX in cash was not identified in the file. The equity gift did have a gift letter. - Due Diligence Vendor-12/05/2025 | Ready for Review-Document Uploaded. please find gift letter - Seller-12/11/2025<br>| Resolved-Received gift letter. - Due Diligence Vendor-12/12/2025<br>| Qualifying FICO score is at least 20 points above minimum for program - Required is 620 Borrower has 659<br>Months Reserves exceed minimum required - 3 required, subject 6.26.months |  | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Purchase | NA | N/A | N/A | 6499956 |
| XXXX | XXXX | 10178814 C B A | Closed | FCRE1491 | 2025-12-05 08:01 | 2025-12-12 14:39 | Resolved | 1 - Information C A | Credit | Assets | Asset Qualification Does Not Meet Guideline Requirements | Resolved-Received statement confirming borrowers account holder. - Due Diligence Vendor-12/12/2025 <br> Ready for Review-Document Uploaded. XXXX uploaded please clear. - Seller-12/11/2025 <br> Open-Asset Qualification Does Not Meet Guideline Requirements Verification the XXXX belongs to the borrower and that the borrower has access to these funds was not identified in the file. This is required. The only documentation in the file was a print out which did not contain the account holder(s) name(s). page 245 - Due Diligence Vendor-12/05/2025 | Ready for Review-Document Uploaded. XXXX uploaded please clear. - Seller-12/11/2025 | Resolved-Received statement confirming borrowers account holder. - Due Diligence Vendor-12/12/2025<br>| Qualifying FICO score is at least 20 points above minimum for program - Required is 620 Borrower has 659<br>Months Reserves exceed minimum required - 3 required, subject 6.26.months |  | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Purchase | NA | N/A | N/A | 6500225 |
| XXXX | XXXX | 10178814 C B A | Closed | FCRE1510 | 2025-12-02 10:55 | 2025-12-12 14:34 | Resolved | 1 - Information C A | Credit | Closing | Issues exist on the Mortgage Document (Deed of Trust) | Resolved-Received complete security instrument inclusive of legal description. - Due Diligence Vendor-12/12/2025 <br>Ready for Review-Document Uploaded. DOT WITH LEGAL - Seller-12/11/2025 <br>Open-There are Issues Present on the Mortgage Document (Deed of Trust) that must be addressed. ----- missing legal description - Due Diligence Vendor-12/02/2025 | Ready for Review-Document Uploaded. DOT WITH LEGAL - Seller-12/11/2025<br>| Resolved-Received complete security instrument inclusive of legal description. - Due Diligence Vendor-12/12/2025<br>| Qualifying FICO score is at least 20 points above minimum for program - Required is 620 Borrower has 659<br>Months Reserves exceed minimum required - 3 required, subject 6.26.months |  | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Purchase | NA | N/A | N/A | 6446349 |
| XXXX | XXXX | 10178860 D A | Closed | FPRO1255 | 2025-12-08 07:43 | 2026-04-14 14:23 | Resolved | 1 - Information D A | Credit | Missing Doc - Credit | HOA Questionnaire Document is Missing | Resolved-Received HOA questionnaire and revised Appraisal. - Due Diligence Vendor-12/23/2025 <br>Ready for Review-Document Uploaded. updated appraisal matching HOA - Seller-12/22/2025 <br>Counter-Received Questionnaire. Please confirm number of units. Appraisal and Questionnaire do not match. - Due Diligence Vendor-12/17/2025 <br>Ready for Review-Document Uploaded. condo cert - Seller-12/15/2025 <br>Open-Subject Property is part of an HOA but the HOA Questionnaire Document is Missing. Provide the HOA questionnaire - Due Diligence Vendor-12/08/2025 | Ready for Review-Document Uploaded. updated appraisal matching HOA - Seller-12/22/2025 <br>Ready for Review-Document Uploaded. condo cert - Seller-12/15/2025<br>| Resolved-Received HOA questionnaire and revised Appraisal. - Due Diligence Vendor-12/23/2025<br>| Qualifying FICO score is at least 20 points above minimum for program - Required is 700 Borrower has 791 <br>LTV is less than guideline maximum - Required is 80 Borrower has 75 |  | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Purchase | NA | N/A | N/A | 6524786 |
| XXXX | XXXX | 10178844 D B A | Closed | FCRE0157 | 2025-12-09 12:10 | 2026-01-02 15:27 | Waived | 2 - Non-Material C B | Credit | Eligibility | Loan does not meet guideline requirements for loans listed for sale | Waived-Originator provided a waiver for subject listed for sale, applied to non material finding with comp factors - Due Diligence Vendor-01/02/2026 <br> Ready for Review-Document Uploaded. Please find the exception for review. - Seller-12/31/2025 <br> Open-Loan does not meet guideline requirements for loans listed for sale. Per the applicable guidelines the property must be removed from the listing prior to closing. The appraisal states the property was listed for XXXX as per XXXX MLS but does not identify the property being delisted. Verification the property has been removed from listing prior to closing is required. Additional stipulations may apply. - Due Diligence Vendor-12/09/2025 | Ready for Review-Document Uploaded. Please find the exception for review. - Seller-12/31/2025<br>| Waived-Originator provided a waiver for subject listed for sale, applied to non material finding with comp factors - Due Diligence Vendor-01/02/2026<br>| Months Reserves exceed minimum required - 3 months required, subject 22.71<br>Qualifying FICO score is at least 20 points above minimum for program - Required is 720 Borrower has 763 | Fico: 763<br> Credit: 0x30 for 24 months | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Refinance | Cash Out - Other | Originator Post-Close | Yes | 6550649 |
| XXXX | XXXX | 10178844 D B A | Closed | FCRE9488 | 2025-12-09 11:33 | 2025-12-12 15:00 | Resolved | 1 - Information C A | Credit | Borrower | Potential Occupancy/Current Address Issues identified in the file | Resolved-Appraiser addressed change of occupancy within addendum - Due Diligence Vendor-12/12/2025 <br> Ready for Review-The 1st appraisal was executed on XXXX which showed owner occupied. Pictures in the appraisal clearly show no resident in the property, the appraisal corrected the appraisal on XXXX to show vacant. It is evident this was an error when the appraisal was issued on XXXX. Please clear finding. - Seller-12/11/2025 <br> Open-The file contains 2 appraisals. One states the occupancy is vacant pg 84 and the other states that the occupancy is owner occupied pg 50. A lease is in file page 399 and verification of the receipt of rent 462-464. The appraiser needs to address why the appraisal was marked owner occupied. Additional stipulations may apply. The homeowners insurance is for a rental property - Due Diligence Vendor-12/09/2025 | Ready for Review-The 1st appraisal was executed on XXXX which showed owner occupied. Pictures in the appraisal clearly show no resident in the property, the appraisal corrected the appraisal on XXXX to show vacant. It is evident this was an error when the appraisal was issued on XXXX. Please clear finding. - Seller-12/11/2025 | Resolved-Appraiser addressed change of occupancy within addendum - Due Diligence Vendor-12/12/2025<br>| Months Reserves exceed minimum required - 3 months required, subject 22.71<br>Qualifying FICO score is at least 20 points above minimum for program - Required is 720 Borrower has 763 |  |  | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Refinance | Cash Out - Other | N/A | N/A | 6549859 |
| XXXX | XXXX | 10178844 D B A | Closed | FCOM8972 | 2025-12-09 16:56 | 2025-12-12 14:55 | Resolved | 1 - Information D A | Credit | Missing Doc | Missing Deed of Trust Riders | Resolved-Received prepayment penalty rider within security instrument chain. - Due Diligence Vendor-12/12/2025 <br>Ready for Review-Document Uploaded. DOT with all riders provided. Please clear finding. - Seller-12/11/2025 <br>Open-Missing prepayment rider - Due Diligence Vendor-12/09/2025 | Ready for Review-Document Uploaded. DOT with all riders provided. Please clear finding. - Seller-12/11/2025<br>| Resolved-Received prepayment penalty rider within security instrument chain. - Due Diligence Vendor-12/12/2025<br>| Months Reserves exceed minimum required - 3 months required, subject 22.71<br>Qualifying FICO score is at least 20 points above minimum for program - Required is 720 Borrower has 763 |  | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Refinance | Cash Out - Other | N/A | N/A | 6557194 |
| XXXX | XXXX | 10178791 C A | Closed | FPRO1137 | 2025-12-16 12:38 | 2026-01-07 16:07 | Resolved | 1 - Information C A | Property | Appraisal | The appraiser was not licensed (Primary Value) | Resolved-Revised appraisal received. - Due Diligence Vendor-01/07/2026 <br> Ready for Review-Document Uploaded. Revised report attached. They had the wrong appraiser's name in one location on the report. This was addressed. The effective date of the appraisal was XXXX and the license didn't expire until XXXX. please find attached and clear findings. - Seller-01/07/2026 <br> Open-Primary Value appraiser's license was not effective prior to the Valuation Date or expired prior to the Valuation Date The appraisal identifies the appraiser as XXXX. The state certification shows this number going to an appraiser named XXXX. There is a XXXX but with a different license number. This discrepancy needs to be addressed. - Due Diligence Vendor-12/16/2025 | Ready for Review-Document Uploaded. Revised report attached. They had the wrong appraiser's name in one location on the report. This was addressed. The effective date of the appraisal was XXXXand the license didn't expire until XXXX. please find attached and clear findings. - Seller-01/07/2026 | Resolved-Revised appraisal received. - Due Diligence Vendor-01/07/2026<br>| Qualifying FICO score is at least 20 points above minimum for program - Required is 720 Borrower has 782<br>Months Reserves exceed minimum required - 3 months required, 123 months verified. |  | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Refinance | Cash Out - Other | N/A | N/A | 6646052 |
| XXXX | XXXX | 10178791 C A | Closed | FCRE0104 | 2025-12-16 13:08 | 2025-12-31 11:52 | Resolved | 1 - Information C A | Credit | Eligibility | Prepayment Penalty is not allowed | Resolved-Document Uploaded. Effective XXXX the lender allows prepay in XXXX- Due Diligence Vendor-12/31/2025 <br> Counter- XXXX prepay matrix prohibits prepayment penalties entirely (regardless of loan amount) for business reasons - Due Diligence Vendor-12/30/2025 <br> Ready for Review-this is incorrect, XXXX follows the state statue so the Pre pay is allowed please clear. - Seller-12/29/2025 <br> Counter-XXXX has been met, however per Lender, XXXX prohibits prepayment penalties entirely (regardless of loan amount) for business reasons - Due Diligence Vendor-12/22/2025 <br> Ready for Review-the XXXX. For 1-2 unit properties, PPP is allowable as long as XXXX. Please clear finding - Seller-12/19/2025 <br> Open-Prepayment Penalty is not allowed. XXXXs prohibits prepayment penalties entirely (regardless of loan amount) for business reasons. - Due Diligence Vendor-12/16/2025 | Ready for Review-this is incorrect, XXXX follows the state statue so the Pre pay is allowed please clear. - Seller-12/29/2025 <br> Ready for Review-the XXXX. For 1-2 unit properties, PPP is allowable as long as XXXX. Please clear finding - Seller-12/19/2025 | Resolved-Document Uploaded. Effective XXXX the lender allows prepay in XXXX. - Due Diligence Vendor-12/31/2025 | Qualifying FICO score is at least 20 points above minimum for program - Required is 720 Borrower has 782<br>Months Reserves exceed minimum required - 3 months required, 123 months verified. |  | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Refinance | Cash Out - Other | N/A | N/A | 6646799 |
| XXXX | XXXX | 10178791 C A | Closed | FCRE6618 | 2025-12-16 14:54 | 2025-12-22 15:15 | Resolved | 1 - Information C A | Credit | Borrower | Borrower information on 1003 is incomplete | Resolved-Received Final 1003 Loan Application for B1 - Due Diligence Vendor-12/22/2025 <br>Ready for Review-Document Uploaded. borrower one is last in these docs, page 20 or so. - Seller-12/19/2025 <br>Open-Missing final signed 1003 for borrower 1 - Due Diligence Vendor-12/16/2025 | Ready for Review-Document Uploaded. borrower one is last in these docs, page 20 or so. - Seller-12/19/2025<br>| Resolved-Received Final 1003 Loan Application for B1 - Due Diligence Vendor-12/22/2025<br>| Qualifying FICO score is at least 20 points above minimum for program - Required is 720 Borrower has 782<br>Months Reserves exceed minimum required - 3 months required, 123 months verified. |  | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | XXXX | XXXX | Investment | Refinance | Cash Out - Other | N/A | N/A | 6649214 |

---

## Exhibit 99.3

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.3 - Schedule 2**

---

| | | | |
|:---|:---|:---|:---|
| **Loan ID** | **Seller Loan ID** | **Redaction ID** | **Original Loan Amount** |
| XXXX | XXXX | 10178882 | XXXX C A |
| XXXX | XXXX | 10178832 | XXXX C A |
| XXXX | XXXX | 10178826 | XXXX D A |
| XXXX | XXXX | 10178817 | XXXX C A |
| XXXX | XXXX | 10178814 | XXXX C A B |
| XXXX | XXXX | 10178860 | XXXX D A |
| XXXX | XXXX | 10178844 | XXXX D A B |
| XXXX | XXXX | 10178791 | XXXX C A |

---

## Exhibit 99.3

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.3 - Schedule 3**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Loan ID** | **Seller Loan ID** | **Redaction ID** | **Transaction ID** | **Field Name** | **Source** | **Verified Value** | **Bid Tape Value** | **Comment** |
| XXXX | XXXX | 10178882 | HMC0001_Post-Close Flow | Cash Disbursement Date | closingDetailsNonCompliancePage | XXXX | XXXX | Per Settlement Statement |
| XXXX | XXXX | 10178882 | HMC0001_Post-Close Flow | Qualifying Total Housing Expense PITIA | diligenceFinalLookPage | XXXX | XXXX | Includes HOA |
| XXXX | XXXX | 10178882 | HMC0001_Post-Close Flow | Investor Loan ID | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178882 | HMC0001_Post-Close Flow | Reliance Date | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178882 | HMC0001_Post-Close Flow | Reliance Investor | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178832 | HMC0001_Post-Close Flow | Qualifying Total Housing Expense PITIA | diligenceFinalLookPage | XXXX | XXXX | Lender did not include HOA |
| XXXX | XXXX | 10178832 | HMC0001_Post-Close Flow | Qualifying Total Reserves Number of Months | assetPage | 0.21 | -43.00 | Per bank statements |
| XXXX | XXXX | 10178832 | HMC0001_Post-Close Flow | Investor Loan ID | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178832 | HMC0001_Post-Close Flow | Reliance Date | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178832 | HMC0001_Post-Close Flow | Reliance Investor | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178826 | HMC0001_Post-Close Flow | Investor Loan ID | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178826 | HMC0001_Post-Close Flow | Reliance Date | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178826 | HMC0001_Post-Close Flow | Reliance Investor | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178817 | HMC0001_Post-Close Flow | Cash Disbursement Date | closingDetailsNonCompliancePage | XXXX | XXXX | Per Settlement Statement |
| XXXX | XXXX | 10178817 | HMC0001_Post-Close Flow | Investor Loan ID | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178817 | HMC0001_Post-Close Flow | Reliance Date | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178817 | HMC0001_Post-Close Flow | Reliance Investor | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178814 | HMC0001_Post-Close Flow | Investor Loan ID | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178814 | HMC0001_Post-Close Flow | Reliance Date | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178814 | HMC0001_Post-Close Flow | Reliance Investor | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178860 | HMC0001_Post-Close Flow | Investor Loan ID | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178860 | HMC0001_Post-Close Flow | Reliance Investor | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178860 | HMC0001_Post-Close Flow | Reliance Date | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178844 | HMC0001_Post-Close Flow | Qualifying Amortization Term | notePage | 0 | 480 | Per Note |
| XXXX | XXXX | 10178844 | HMC0001_Post-Close Flow | Investor Loan ID | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178844 | HMC0001_Post-Close Flow | Reliance Date | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178844 | HMC0001_Post-Close Flow | Reliance Investor | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178791 | HMC0001_Post-Close Flow | Qualifying Total Housing Expense PITIA | diligenceFinalLookPage | XXXX | XXXX | Lender did not include HOA |
| XXXX | XXXX | 10178791 | HMC0001_Post-Close Flow | Investor Loan ID | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178791 | HMC0001_Post-Close Flow | Reliance Investor | overrideTrueData | XXXX | XXXX |  |
| XXXX | XXXX | 10178791 | HMC0001_Post-Close Flow | Reliance Date | overrideTrueData | XXXX | XXXX |  |

---

## Exhibit 99.3

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.3 - Schedule 4**

---

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Loan ID** | **Seller Loan ID** | **Redaction ID** | **Lender Application Date** | **Originator QM Status** | **Final QM Status** | **Originator QM Status Difference than Final QM Status?** | **Reason Why NonQM Final Status** | **APR Pricing Threshold Exceeded?** | **QM DTI Threshold Exceeded?** | **Higher Priced Mortgage Loan (HPML)?** | **Negatively Amortizing Loan?** | **Principal Deferment?** | **Interest Only Flag?** | **Prepayment Penalty?** | **Balloon Flag?** | **Adjustable Rate Balloon?** | **Loan Term Less Than 5 Years?** | **QM Points and Fees Threshold Exceeded?** | **QM Total Points and Fees** | **APR** | **ATR: Qualifying Payment Properly Considered?** | **ATR: Current Employment/Self-Employment Verified?** | **ATR: Balloon Qualifying Payment Properly Considered?** | **ATR: Reasonable Income or Assets Considered?** | **ATR: Subject PITIA Adequately Documented?** | **ATR: All Liabilities Including Alimony and Child Support in DTI?** | **ATR: Simultaneous Loan Calculated Properly** | **ATR: Credit History was Considered Properly?** | **ATR: Did Lender Document All ATR Factors?** | **ATR: Was an ATR/QM Residual Income Analysis Provided?** | **Residual Income Meets Guidelines?** | **Borrower 1 Employment Indicator** | **Borrower 2 Employment Indicator** | **Borrower 1 Foreign National Indicator** | **Borrower 2 Foreign National Indicator** | **Business Purpose Loan?** | **Business Purpose Verified?** |
| XXXX | XXXX | 10178882 | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | No |  |  | No |  | No | No | No | Yes | No | No | No |  |  |  | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |  |  |  | No |  | Yes | Present |
| XXXX | XXXX | 10178832 | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | No |  |  | No |  | No | No | No | Yes | No | No | No |  |  |  | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |  |  |  | No |  | Yes | Present |
| XXXX | XXXX | 10178826 | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | No |  |  | No |  | No | No | Yes | Yes | No | No | No |  |  |  | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |  |  |  | No |  | Yes | Present |
| XXXX | XXXX | 10178817 | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | No |  |  | No |  | No | No | No | Yes | No | No | No |  |  |  | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |  |  |  | No |  | Yes | Present |
| XXXX | XXXX | 10178814 | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | No |  |  | No |  | No | No | No | Yes | No | No | No |  |  |  | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |  |  |  | No |  | Yes | Present |
| XXXX | XXXX | 10178860 | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | No |  |  | No |  | No | No | No | No | No | No | No |  |  |  | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |  |  |  | No |  | Yes | Present |
| XXXX | XXXX | 10178844 | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | No |  |  | No |  | No | No | Yes | Yes | No | No | No |  |  |  | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |  |  |  | No |  | Yes | Present |
| XXXX | XXXX | 10178791 | XXXX | ATR/QM: Exempt | ATR/QM: Exempt | No |  |  | No |  | No | No | No | Yes | No | No | No |  |  |  | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |  |  |  | No | No | Yes | Present |

---

## Exhibit 99.3

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.3 - Schedule 5**

---

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Loan ID** | **Seller Loan ID** | **Redaction ID** | **Note Date** | **Original Loan Amount** | **Sales Price** | **Total Adjusted Prior Purchase Price** | **Primary Appraised Value** | **Primary Appraisal Date** | **Primary Appraisal Type** | **Primary Appraisal Company** | **Primary Appraiser Name** | **Primary Appraiser License Number** | **Value for LTV** | **LTV** | **CLTV** | **Loan Reviewed Property Value** | **Loan Reviewed Variance Amount** | **Loan Reviewed Variance Percent** | **Loan Reviewed Product Type** | **Loan Post-Close Reviewed Property Value** | **Loan Post-Close Reviewed Variance Amount** | **Loan Post-Close Reviewed Variance Percent** | **Loan Post-Close Reviewed Product Type** | **Second Appraisal Value** | **Second Appraisal Variance Amount** | **Second Appraisal Variance Percent** | **Second Appraisal Date** | **Second Appraisal Type** | **AVM Appraised Value** | **AVM Variance Amount** | **AVM Variance Percent** | **AVM Confidence Score** | **FSD Score** | **AVM Company Name** | **AVM Product Name** | **AVM Appraisal Date** | **Desk Review Appraised Value** | **Desk Review Variance Amount** | **Desk Review Variance Percent** | **Desk Review Company** | **Desk Review Risk Score** | **Desk Review Appraisal Date** | **Desk Top Appraised Value** | **Desk Top Variance Amount** | **Desk Top Variance Percent** | **Desk Top Company** | **Desk Top Appraisal Date** | **BPO Appraised Value** | **BPO Variance Amount** | **BPO Variance Percent** | **BPO Company** | **BPO Appraisal Date** | **Field Review Appraised Value** | **Field Review Variance Amount** | **Field Review Variance Percent** | **Field Review Company** | **Field Review Appraisal Date** | **2055 Appraised Value** | **2055 Variance Amount** | **2055 Variance Percent** | **2055 Company** | **2055 Appraisal Date** | **AVE/CMA Appraised Value** | **AVE/CMA Variance Amount** | **AVE/CMA Variance Percent** | **AVE/CMA Company** | **AVE/CMA Appraisal Date** | **Completion Report (1004D) Date** | **Other Appraised Value** | **Other Variance Amount** | **Other Variance Percent** | **Other Appraisal Date** | **Updated Appraised Value** | **Updated Variance Amount** | **Updated Variance Percent** | **Updated Company** | **Updated Appraisal Date** | **Updated Appraisal Type** | **Loan Collateral Advisor Risk Score** | **Loan Collateral Advisor Risk Score Date** | **Is Eligible for Rep and Warrant Relief per Loan Collateral Advisor?** | **Collateral Underwriter Risk Score** | **Collateral Underwriter Risk Score Date** |
| XXXX | XXXX | 10178882 | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 70.0 | 70.0 | XXXX | 0.0 | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.3 | XXXX |
| XXXX | XXXX | 10178832 | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1073 Individual Condo Report | XXXX | XXXX | XXXX | XXXX | 61.2 | 61.2 | XXXX | 0.0 | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 | XXXX |
| XXXX | XXXX | 10178826 | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 67.03 | 67.03 | XXXX | 0.0 | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | 0.0 | .0000 | XXXX | Low | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3.4 | XXXX |
| XXXX | XXXX | 10178817 | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | 0.0 | .0000 | Desk Review |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0037 | 97.0 | 0.03 | XXXX | XXXX | XXXX | XXXX | 0.0 | .0000 | XXXX | A | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | XXXX | 10178814 | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 68.45 | 68.45 | XXXX | 0.0 | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 | XXXX |
| XXXX | XXXX | 10178860 | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1073 Individual Condo Report | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | 0.0 | .0000 | Desk Review |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0264 | 97.0 | 0.03 | XXXX | XXXX | XXXX | XXXX | 0.0 | .0000 | XXXX | A | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | XXXX | 10178844 | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | 0.0 | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | 0.0 | .0000 | XXXX | Low | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | XXXX | 10178791 | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | 0.0 | .0000 | Desk Review |  |  |  |  |  |  |  |  |  | XXXX | XXXX | -.0627 | 88.0 | 0.12 | XXXX | XXXX | XXXX | XXXX | 0.0 | .0000 | XXXX | A | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

## Exhibit 99.4

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.4**

![](ex994001.jpg)

**April 15, 2026**<br> **Due Diligence Narrative Report**<br>

![](ex994002.jpg)

**Table of Contents**

---

| | |
|:---|:---|
| **Overview** | **2** |
| **Originators** | **2** |
| **Clayton's Third Party Review ("TPR") Scope of Work** | **3** |
| &nbsp;&nbsp;&nbsp;*Sampling* | *3* |
| &nbsp;&nbsp;&nbsp;*Sponsor Acquisition Criteria* | *3* |
| &nbsp;&nbsp;&nbsp;*Loan Grading* | *3* |
| &nbsp;&nbsp;&nbsp;*TPR Component Review Scope* | *4* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Review | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property Valuation Review | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regulatory Compliance Review | 5 |
| &nbsp;&nbsp;&nbsp;*Data Capture* | *7* |
| &nbsp;&nbsp;&nbsp;*Data Integrity* | *7* |
| **Data Compare Results** | **8** |
| **Clayton Due Diligence Results** | **9** |
| **Clayton Third Party Reports Delivered** | **10** |
| **Appendix A: Credit Review Scope** | **11** |
| **Appendix B: Origination Appraisal Assessment** | **14** |
| **Appendix C: Regulatory Compliance Review Scope** | **16** |

---

MSRM 2026-DSC2 Due Diligence Narrative Report Page \| 1 April 15, 2026

![](ex994002.jpg)

Clayton Contact Information

Client Service Management:

---

| | | |
|:---|:---|:---|
| ![](ex994003.jpg) | **Ralph Fox** | Client Services – Senior Director |

---

Phone: (813) 371-0281/E-mail: <u>rfox@clayton.com</u>

---

| | | |
|:---|:---|:---|
| ![](ex994003.jpg) | **Joe Ozment** | VP Client Services and Securitization |

---

Phone: (813) 261-0733/E-mail: <u>jozment@clayton.com</u>

**Overview** 

On behalf of HomeXpress Mortgage Corp, Clayton conducted an independent third-party pre-securitization due diligence review of 18 residential loans. These loans were sold to Morgan Stanley Mortgage Capital Holdings LLC (MSMCH) or one of its affiliates and the diligence results were provided to MSMCH pursuant to a reliance letter.

The loans referenced in this narrative report were reviewed on a bulk and flow basis between November 2025 and December 2025 at Clayton's centralized underwriting facility in Tampa, FL. This narrative report provides information about the original lender, the scope of work performed by Clayton, and the results of Clayton's review.

**Originators** 

Origination channels for the loan in this review:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Origination Channel** | &nbsp;&nbsp;**Loan Count** | &nbsp;&nbsp;**Percentage** |
| &nbsp;&nbsp;Broker | &nbsp;&nbsp;16 | &nbsp;&nbsp;88.89% |
| &nbsp;&nbsp;Correspondent Flow with delegated underwriting | &nbsp;&nbsp;1 | &nbsp;&nbsp;5.56% |
| &nbsp;&nbsp;Retail | &nbsp;&nbsp;1 | &nbsp;&nbsp;5.56% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**18** | &nbsp;&nbsp;**100.00%** |

---

**Clayton's Third Party Review ("TPR") Scope of Work** 

The scope of work for this transaction consisted of credit, property valuation, and regulatory compliance review, plus a data integrity check, and was performed in accordance with rating agency<sup>1</sup> loan level review standards in place as of the date of the review. This is referred to as a "Full Review."

Sampling

For all originators in this transaction, 55.56% of the loans received a Full Review as described below.

<sup>1</sup> Standard and Poor's, Moody's, Fitch, Kroll, Morningstar, and DBRS

MSRM 2026-DSC2 Due Diligence Narrative Report Page \| 2 April 15, 2026

![](ex994002.jpg)

Review Type Loan Counts:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;***Review Type*** | &nbsp;&nbsp;***Loan Count***<br> ***Reviewed by*** <br> ***Clayton*** | &nbsp;&nbsp;***Scope Applied*** |
| &nbsp;&nbsp;**Full Review** | &nbsp;&nbsp;10\* | &nbsp;&nbsp;Clayton performed a Full Review based on the scope described below in the section titled "TPR Component Review Scope". |
| &nbsp;&nbsp;**Total Loan** <br> **Population** | &nbsp;&nbsp;18 |  |

---

\*8 loans were not reviewed for regulatory compliance in accordance with paragraph 2 of the "Compliance Review (Business Purpose, Non-Owner Occupied)"

Sponsor Acquisition Criteria

Clayton was supplied with the related guidelines in advance of our review. The subject loans were reviewed pursuant to the applicable originator's guidelines.

Loan Grading

The Sponsor Acquisition Criteria referenced above served as the benchmark for grading loans from a credit underwriting, property valuation and regulatory compliance perspective, as applicable. Each loan received an "initial" and a "final" grade. The "initial" grade was assigned during the initial loan review. The "final" grade takes into account additional information and supporting documentation that may have been provided by the originators to clear outstanding conditions. Clayton's loan grading is solely based on Clayton's independent assessment of all guideline exceptions and compensating factors for each of the component reviews. Clayton is providing a comprehensive loan-level analysis as part of this pre-securitization reporting package that includes initial grades, final grades and detailed commentary on the rationale for any changes in grades, and sets forth compensating factors and waivers.

Clayton's loan grading complied with rating agency grading definitions published by Moody's, Standard and Poor's, Fitch, Morningstar, Kroll and DBRS.

![](ex994004.jpg)

MSRM 2026-DSC2 Due Diligence Narrative Report Page \| 3 April 15, 2026

![](ex994002.jpg)

TPR Component Review Scope

Clayton examined each loan file with respect to the presence or absence of relevant documents, enforceability of mortgage loan documents, and accuracy and completeness of data fields. Clayton relied on the accuracy of information contained in the loan documentation provided to Clayton.

Credit Review

Clayton's Credit scope of review conducted on this transaction included the following elements (for more detail, please refer to <u>Appendix A</u> and to the guidelines cited above):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Assessed
 whether the characteristics of the mortgage loans and the borrowers conformed to the
 Sponsor Acquisition Criteria cited above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Re-calculated
 LTV, CLTV, income, liabilities, and debt-to-income ratios (DTI) and compared these against
 the Sponsor Acquisition Criteria;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Analyzed
 asset statements in order to determine whether funds to close and reserves were within
 the Sponsor Acquisition Criteria;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Confirmed
 that credit scores (FICO) and credit histories were within the Sponsor Acquisition Criteria;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Evaluated
 evidence of borrower's willingness and ability to repay the obligation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Examined
 income, employment, assets, and occupancy status for reasonability; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Examined
 Data Verify/Fraudguard/Interthinx or similar risk evaluation report, which was ordered
 by the Seller and received by Clayton for Nationwide Multistate Licensing System and
 Registry ("NMLS") and occupancy status alerts. Clayton researched alert information
 against loan documentation and assigned loan conditions accordingly.

Property Valuation Review

Clayton's Property Valuation scope of review conducted on this transaction included the following elements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Original
 Appraisal Assessment (18 loans)

– Clayton reviewed the original appraisal provided to determine whether the original appraisal was complete, thorough and the original appraised value was reasonably supported.

– For more detail on the original appraisal review scope and desk review definitions, please refer to <u>Appendix B</u> and to the guidelines cited above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Value
 Supported Analysis (12 loans)

Clayton applied a cascade methodology to determine if the original appraised value was reasonably supported when compared to an independent third-party valuation product. Clayton had independent access to all products listed below.

● AVM

● BPO

● Desk Review

MSRM 2026-DSC2 Due Diligence Narrative Report Page \| 4 April 15, 2026

![](ex994002.jpg)

● Field Review

● Second Full Appraisal

6 loans had CU scores of 2.5 or less and did not require a third-party valuation. For further detail please refer to the Valuations Summary Report

Regulatory Compliance Review

Clayton's regulatory compliance scope of review conducted on this transaction included the elements summarized below.

(For more detail, please refer to <u>Appendix C</u>.)

Clayton utilized its proprietary eCLAS engine for regulatory compliance testing.

The scope of the compliance review performed is summarized below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Tested
 for certain applicable federal, state and local high cost and/or anti-predatory laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Tested
 for state-specific consumer protection laws including late charge and prepayment penalty
 provisions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Truth-in-lending/regulation
 Z (TILA) testing included the following:

– Notice of Right to Cancel (Right of Rescission) adherence if applicable;

– TIL Disclosure Timing (3/7/3) and disclosure content;

– TIL APR and Finance charge tolerances;

– Timeliness of ARM Disclosures (if applicable);

– Section 32 APR and Points and Fees Thresholds and prohibited practices;

– Section 35 Higher Priced Mortgage Loans thresholds and applicable escrow and appraisal requirements;

– Prohibited Acts or Practices including Loan Originator compensation rules, NMLSR ID on documents, financing credit Insurance, mandatory arbitration clauses, and NegAm Counseling;

– Prepayment Penalty restrictions;

QM/ATR Review: On applicable loans, test compliance with applicable Qualified Mortgage (QM) and Ability to Repay (ATR) requirements defined under the Dodd-Frank Wall Street Reform and Consumer Protection Act as promulgated by the Consumer Financial Protection Bureau, as further described on <u>Appendix C</u> attached hereto and

TILA/RESPA Integrated Disclosure Scope ('Covered Loans' on or after 10/3/2015); SFIG RMBS 3.0 TRID Compliance Review Scope as further described on <u>Appendix C</u> attached hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Real
 Estate Settlement Procedures Act (RESPA) laws and regulations testing included the following,
 for loans other than 'Covered Loans' and loans with an Application Date prior
 to 10/3/2015:

– GFE initial disclosure timing and content;

– Confirmed the file contains the final HUD1 Settlement Statement;

GFE to HUD1 evaluation for 0% and 10% fee tolerances;

– Homeownership Counseling Notice; and

– Affiliated Business Disclosure if applicable.

OF NOTE: As of October 3, 2015 ("TRID Effective Date"), Clayton commenced testing applicable loans subject to the TRID Effective date against a TRID scope of review that was based on outside counsel's interpretations of the published regulations as of the TRID Effective Date. Clayton's scope was commercially reasonable as it relates to a Third Party Review ("TPR") firm's role as TPR conducting an independent third-party pre-securitization due diligence review ("Initial TRID Scope"). The Initial TRID Scope was created with guidance from outside counsel.

MSRM 2026-DSC2 Due Diligence Narrative Report Page \| 5 April 15, 2026

![](ex994002.jpg)

On, June 15th, 2016 SFIG published its RMBS 3.0 TRID Compliance Review Scope© documentation, developed under the leadership of members from TPR firms across the industry and SFIG's RMBS 3.0 Due Diligence, Data and Disclosure Working Group. The RMBS 3.0 TRID Compliance Review Scope was created with an aim to facilitate a uniform testing and risk identification standard as it would apply to an assignee, as a result of a consistent Truth-In-Lending Act liability interpretation according to the understanding of prevailing legal precedent and informal written guidance and webinars offered by the CFPB, as it applies to the Know Before You Owe / Truth In Lending Act ("TILA) – Real Estate Settlement Procedures Act ("RESPA") Integrated Disclosure ("TRID") Rule (78 FR 79730, as amended). RMBS 3.0 TRID Compliance Review Scope may be formally amended by the SFIG RMBS 3.0 Due Diligence, Data and Disclosure Working Group as clarifying regulations may be promulgated on a go forward basis, as well as any binding judicial interpretations of the underlying law.

Following the June 15<sup>th</sup> , 2016 formal publication of the RMBS 3.0 TRID Compliance Review Scope©, Clayton reviewed prior testing results dating back to the TRID Effective Date, and applied the enhanced RMBS 3.0 TRID Compliance Review Scope to such loans upon the affirmative election by Morgan Stanley Mortgage Capital Holdings.

<u>Compliance Review (Business Purpose, Non-Owner Occupied)</u> 

Non-Owner-Occupied Scope: Most consumer protection laws are designed to afford protection to borrowers who are entering into a loan that will be secured by their residence. For most high cost and higher-priced laws, as well as rescission, the only loans covered by the law are loans secured by the borrower's (or in the case of rescission a title holder's) principal residence. Most other consumer protection laws extend to a borrower's secondary residence, which under TILA and RESPA is a residence that they occupy at least 2 weeks during the year. Further, if the loan is for a business purpose it is often excluded from consumer protection laws regardless of occupancy, including TILA (whereas if it is secured by non-owner occupied but for a personal, family or household purpose it is more likely to be covered).

As of December 18, 2020, Clayton modified its system to not run regulatory compliance testing on business entities, including LLC's, unless there is also a co-borrower that is a natural person or a trust that is considered to be a "consumer" under TILA. Rather than migrating compliance findings to an A on such loans as was the previous process, going forward no compliance grades are assigned in these instances.

Therefore, the list of laws that Clayton tests that apply to a loan secured by non-owner occupied property for a business purpose is limited. Regulatory Compliance testing of Business Purpose Loans consists of the following:

State and Federal High Cost and Higher-Priced:

● Cook County High Cost Ordinance

● Chicago High Cost Ordinance

Clayton currently tests the Chicago and Cook County ordinances due to vague language around loans for a business purpose not related to the property. While the state of Illinois has similar language, Clayton's audit law firm determined that only principal residences should be tested for IL high cost.

Anti-predatory lending laws

● Virginia Lender and Broker Act after 6/1/2008

● Minnesota §58 on or after 8/1/2008

MSRM 2026-DSC2 Due Diligence Narrative Report Page \| 6 April 15, 2026

![](ex994002.jpg)

Prepayment Penalties and Late Charges in certain states

National Flood Insurance Program for 1-4 unit residential properties (Transaction Date on or after 1/1/2016 for regulated lenders)

● Sufficiency of coverage

● Escrow of insurance payments

Data Capture

Clayton collected data fields required to create American Securitization Forum ("ASF") and Standard and Poor's LEVELS 7.4. data disclosure requirements. Both of these file formats are provided as part of the pre-securitization reporting package. Additionally, Clayton captured rating agency required data points relating to ATR/QM determination, which is provided in the reporting package.

Data Integrity

Clayton utilized its proprietary eCLAS tool to determine tape to file accuracy of each reviewed loan, by completing the following steps:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Tape
 data received from lender/client is stored in eCLAS;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Loan
 Reviewer collects validated loan data in eCLAS;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Each
 received data point is compared to its counterpart collected data point;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Discrepancies
 found during comparison are stored; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Each
 discrepancy is reported on the Clayton Loan Level Tape Compare.

**Data Compare Results**

Clayton provided Morgan Stanley Mortgage Capital Holdings, LLC (MSMCH) with copies of the Loan Level Tape Compare Upload which shows the differences between the data received by the sellers versus the data captured by Clayton during the loan review.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Field Name** | &nbsp;&nbsp;**# of Loans** | &nbsp;&nbsp;**% Accuracy** |
| &nbsp;&nbsp;Borrower DSCR Percent | &nbsp;&nbsp;2 | &nbsp;&nbsp;88.89% |
| &nbsp;&nbsp;Cash Reserves | &nbsp;&nbsp;1 | &nbsp;&nbsp;94.44% |
| &nbsp;&nbsp;Disbursement Date | &nbsp;&nbsp;1 | &nbsp;&nbsp;94.44% |
| &nbsp;&nbsp;DTI Qualifying (Back) | &nbsp;&nbsp;1 | &nbsp;&nbsp;94.44% |
| &nbsp;&nbsp;Months Reserves | &nbsp;&nbsp;1 | &nbsp;&nbsp;94.44% |
| &nbsp;&nbsp;Number of Units | &nbsp;&nbsp;1 | &nbsp;&nbsp;94.44% |
| &nbsp;&nbsp;Property Type | &nbsp;&nbsp;1 | &nbsp;&nbsp;94.44% |
| &nbsp;&nbsp;Representative Credit Score for Grading | &nbsp;&nbsp;1 | &nbsp;&nbsp;94.44% |
| &nbsp;&nbsp;Total Cash Out | &nbsp;&nbsp;8 | &nbsp;&nbsp;55.56% |

---

MSRM 2026-DSC2 Due Diligence Narrative Report Page \| 7 April 15, 2026

![](ex994002.jpg)

**Clayton Due Diligence Results**

Below are the initial and final overall loan grades for this review, as well as the credit, property valuation, and regulatory compliance component review grades.

**Initial and Final Overall Loan Grade Results** 

<u>Loan Pool (18 loans)</u>

![](ex994005.jpg)

The overall grade summary reflects the combination of the credit, property valuation and regulatory compliance component reviews into one overall grade. The overall grade assigned is the most severe grade from each of the component reviews.

**Initial and Final Credit Component Grade Results**![](ex994006.jpg)

**Initial and Final Property Valuation Grade Results**![](ex994007.jpg)

MSRM 2026-DSC2 Due Diligence Narrative Report Page \| 8 April 15, 2026

![](ex994002.jpg)

**Initial and Final Regulatory Compliance Grade Results\***![](ex994008.jpg)

\*Compliance results may not tie to total loan count based on business entity loans not being subject to a regulatory compliance review (8 loans in pool)

**Clayton Third Party Reports Delivered**

Clayton furnished the following reports on this transaction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Narrative
 Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Conditions
 Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Loan
 Level Tape Compare Upload

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Waived
 Conditions Summary Reports

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Valuations
 Summary Reports

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Attestation
 Forms

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. ASF
 Upload

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Standard
 Upload

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Non-ATR
 QM Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Rating
 Agency ATR/QM Data Fields

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Guideline
 Report

**Appendix A: Credit Review Scope**

For each mortgage loan, Clayton performed a guideline review utilizing specific guidelines furnished at the time of the review.

A. Verified
 that the characteristics of the mortgage loan and borrower conformed to the Sponsor Acquisition
 Criteria requirements including:

○ DTI

○ LTV/TLTV/HLTV

○ Credit score

○ Income and employment

○ Assets and reserves

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○ Property type and use eligibility; and if the property type was a condominium or cooperative, assessed project adherence

○ Borrower eligibility, including:

– Citizenship status

– Non- occupant co-borrower

○ Transaction eligibility, including:

Maximum loan amount

– Loan purpose

– Occupancy

○ Noted any approved exceptions or waivers by the originator and/or aggregator to guidelines; verified that approved exceptions included required, documented compensating factors

B. As
 part of the guideline review, Clayton performed a credit analysis during which various
 documents were examined, including:

○ Uniform Residential Loan Application reviewed to determine:

– Initial loan application was in the loan file and was signed by all borrowers

– Final loan application was in the loan file and was complete

– Information and debts disclosed on loan application aligned with related documentation in the loan file

○ Employment analyzed and verified through use of various documents, including:

– Income documentation

– Verbal and/or written verifications of employments (VVOE, VOE)

– CPA letter

– Business licenses

– Tax transcripts (IRS Form 4506-T)

– Other documentation in loan file

○ Income review included:

– Required income documentation for all borrowers was present and within required time period

– Documents did not appear to have been altered or inconsistent

– IRS Form 4506-T

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Signed
 by all borrowers and processed by the originator

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Compared
 IRS tax transcripts to income documentation and noted any inconsistencies

– Income was recalculated and was documented with applicable documentation, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Tax
 returns

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Financial
 statements

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Paystubs

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ W-2s

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 1099

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ IRS
 documents

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Bank
 statements

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Lease
 agreements

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Award
 letters

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Other
 documentation in loan file

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○ Asset review included:

– Asset documentation required to verify down payment, closing costs, prepaid items and reserves was present and within required timeframe, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Verification
 of deposits (VOD)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Depository
 account statements

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Stock
 or security account statements

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Gift
 funds

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Settlements
 statements

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Other
 evidence of conveyance and transfer of funds, if a sale of assets was involved

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Other
 documentation in loan file

– Asset documents were reviewed to determine any large deposits and appropriate sourcing of funds

○ Credit Report review included:

– Complete copy of report was in loan file

– Report was dated within required timeframe

– All borrowers were included in the report

– Checked any fraud alerts against related loan file documentation

– Verified all disclosed mortgage debt on credit report against the loan application (under the schedule of real estate owned) for accurate debt ratio calculation

– Compared liabilities listed on the credit report against the loan application for accurate debt ratio calculation

– Captured and utilized appropriate credit score for guideline review

○ Title policy review included:

– Title interest – determined if

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Fee
 simple

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Leasehold
 estate

– Appropriate vestee(s) were listed on title policy

Amount of coverage was greater than or equal to the original principal amount of the mortgage

– Applicable title endorsements were present

– Checked for any encumbrances, encroachments and other title exceptions affecting the lien identified through the title search; verified that each issues was addressed in the transaction

– Reviewed the chain of title and duration of ownership by seller or borrower (whichever was applicable)

– Captured monthly tax payments in debt ratio calculation

○ HUD1 (Settlement Statement) review included:

– Funds to close identified and analyzed against borrower's assets

– Seller contributions did not exceed maximum allowed

– Subject property, seller and borrower aligned with other loan documentation

– Disbursements and pay-offs included in debt ratio calculations

– Loan purpose confirmed

○ Hazard/Flood insurance review included:

– Verified presence of required hazard insurance and flood insurance (if required)

– Confirmed that any required insurance was for the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Correct
 borrower

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Correct
 property

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Correct
 lender

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Correct
 loan number

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Life
 of loan, if flood insurance required

Confirmed that any required insurance minimum coverage amount and policy period

– Reviewed for evidence that any required insurance policy premium was paid

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– Confirmed that the mortgagee clause listed the lender's name and "it's successors and assigns"

Confirmed that the payment amount on any required insurance was included in the debt ratio calculation

○ Mortgage Insurance review included:

– Determined if mortgage insurance is required

Captured mortgage insurance name, certificate # and percentage guarantee (when required)

C. For
 each mortgage loan, Clayton examined the mortgage or deed of trust for evidence of recordation.
 In lieu of a copy of the mortgage or deed of trust with recording information, a copy
 of the mortgage or deed of trust that is stamped "true and certified copy"
 by the escrow/settlement agent plus recording directions on closing instruction documentation
 was utilized as evidence for recording.

D. For
 each mortgage loan, Clayton utilized the results from an independent, third-party fraud
 tool along with information in the loan file to identify and address any potential misrepresentations
 including:

○ Borrower identity

– Social Security inconsistencies

– Borrower name variations

○ Occupancy

– Borrower address history

– Subject property ownership history

○ Employment

○ Licensing – reviewed NMLS data for:

– Mortgage lender/originator

– Loan officer

○ OFAC

**Appendix B: Origination Appraisal Assessment**

For each Mortgage Loan, Clayton performed the following origination appraisal analysis:

A. Verified
 that the mortgage loan file contained an appraisal report and that it met the following
 criteria:

○ Appraisal report used standard GSE forms, appropriate to the property type:

FNMA 1004/FHLMC 70 – Uniform Residential Appraisal Report. Used for 1-unit properties, units in planned unit developments (detached PUDs) and condominium projects that consist solely of detached dwelling (site condominium)

– FNMA 1073/FHLMC 465 – Individual Condominium Report. Used to appraise a unit in a condominium project or a condominium unit in a PUD (attached PUD)

FNMA 1025/FHLMC 72 – Small Residential Income Property Appraisal Report. Used for all two-to-four unit residential income properties, including two-to-four unit properties in a PUD

– FNMA 2090 – Individual Cooperative Appraisal Report. Used for individual cooperative units

– FNMA 2000/FHLMC 1032 – One Unit Residential Appraisal Field Review

– FNMA 2000a/FHLMC 1072 – Two to Four Unit Residential Appraisal Field Review

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○ Appraisal report was reasonably complete and included:

– Appraisal report form, certification, statement of limiting conditions and scope of work

– Accurate identification of the subject property

– Accurate identification of the subject loan transaction

– Accurate identification of the property type, in both land and improvements

– All required attachments including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Subject
 front, rear and street photos and valued features

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Subject
 interior photos – kitchen, all baths, main living area, updates/upgrades, deferred
 maintenance

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Photos
 of all comparable sales and listings

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Location
 map

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Exterior
 sketch of property with dimensions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ 1004MC
 Market Conditions Report

– Evidence that appraisal report was made "As Is" or provided satisfactory evidence of completion for all material conditions

– Appraisal date met supplied Sponsor Acquisition Criteria

– If applicable to Sponsor Acquisition Criteria requirements, a second full appraisal was furnished and met Sponsor Acquisition Criteria

B. Performed
 a general credibility assessment of the results of the appraisal per Title XI of FIRREA
 and USPAP based on the following criteria:

○ Title XI of FIRREA:

If the appraisal was completed by a trainee or licensed appraiser unqualified to independently sign the report, an appropriately licensed appraiser co-signed as a supervisory appraiser and inspected the property

– Determined that either the appraiser or supervisory appraiser was appropriately licensed by verifying the appraiser's license included in the appraisal.

– Reviewed for the presence of any "red flags" related to the mortgaged property that may have posed a risk to the property or occupants

○ USPAP

Confirmed that the appraiser developed and communicated their analysis, opinion, and conclusion to intended users of their services in a manner that is meaningful and not misleading and that the appraisal is signed.

C. Reviewed
 and graded the appraisal valuation to the following criteria:

○ Appraised value was reasonably supported. Utilized the following review in making value supported determination:

– Comps used were located reasonably close to the subject property and if not the reason was satisfactorily explained

– Comps used were reasonably recent in transaction date and if not the reason was furnished

– Comps used were reasonably similar to the subject property and if not an explanation was supplied

– Appraised value of the subject was bracketed by the sales prices of the comps and if not the reason was furnished

Adjustments were reviewed and appeared reasonable utilizing the 15% net/25% gross guideline.

○ Property was complete. However, if the property was not 100% complete, then any unfinished portion had no material impact to the value, safety, soundness, structural integrity, habitability or marketability of the subject property

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○ Appraisal was reviewed for any indication of property or marketability issues. Utilized the following key points in making determination:

– Appraisal was made on an "As Is" basis or provides satisfactory evidence of completion of all material conditions

– Property usage was reviewed for zoning compliance

– Property utilization was reviewed to determine it was "highest and best use"

– Neighborhood values were reviewed to determine if declining

– Market conditions were reviewed to determine indication of possible marketability issues:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Location

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ %
 built up

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Growth
 rate

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Demand/supply

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Marketing
 time

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Predominant
 occupancy

– Physical condition of the property was reviewed to determine that the property condition was average or better

– Style of property was reviewed to determine if unique property

– Any health and safety issues were noted and/or remediated

– Locational and/or environmental concerns adequately addressed if present

D. Property
 Eligibility Criteria – Clayton reviewed the property to determine that the property
 met the client supplied eligibility requirements. Examples of ineligible property types
 may include:

○ 3 to 4 unit owner occupied properties

○ 2 to 4 unit second homes

○ Unwarrantable or limited review condominiums

○ Manufactured or mobile homes

○ Condotel units

○ Unique properties

○ Working farms, ranches or orchards

○ Mixed-use properties

○ Properties subject to existing oil or gas leases

○ Properties located in Hawaii Lava Zones 1 and 2

○ Properties exceeding Sponsor Acquisition Criteria requirements for excess acreage

E. Properties
 Affected by Disasters Criteria – Clayton reviewed the appraisal date against any
 FEMA Declared Disaster Areas that were designated for Individual and/or Public Assistance
 due to a federal government disaster declaration.

○ If the appraisal date is before the FEMA Effective Date for any of the disasters listed, Clayton will specify whether or not there has been a property inspection since the date listed, the latest inspection date, whether or not new damage has been indicated, and the amount of said damage.

F. Disclaimer

○ The individuals performing the aforementioned original appraisal assessment are not persons providing valuations for purposes of the Uniform Standards of Professional Appraisal Practice ("USPAP") or necessarily licensed as appraisers under Federal or State law, and the services being performed by such persons do not constitute "appraisal reviews" for purposes of USPAP or Federal or State law.

○ Clayton makes no representation or warranty as to the value of any mortgaged property, notwithstanding that Clayton may have reviewed valuation information for reasonableness

○ Clayton is not an 'AMC' (appraisal management company) and therefore Clayton does not opine on the actual value of the underlying property

○ Clayton is not a 'creditor' within the meaning of ECOA or other lending laws and regulations, and therefore Clayton will not have any communication with or responsibility to any individual consumer concerning property valuation.

○ Clayton does not check to see if the appraiser is on the Freddie Mac exclusionary list

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G. Desk
 Review definitions

○ Clear Capital "CDA" means a written retrospective analysis of an appraisal of residential real property relating to completeness, reasonableness, and relevance. The relevant appraisal shall be provided to Clear Capital by Customer. The CDA will offer an alternative value, if deemed appropriate, based on the analysis of the competitive market as of the effective date of the appraisal provided. The CDA will also provide an analysis of the appraisal provided, including supporting narrative and data to fully support the CDA value and outline deficiencies within the appraisal. The CDA will also contain a Risk Score and Risk Indicators based upon the findings of the analysis for the appraisal provided to Clear Capital by Customer.

○ ProTeck's Appraisal Risk Review (ARR) is an enhanced desk review of the original appraisal in the file completed by a licensed appraiser. The ARR validates subject and comparable data and characteristics, confirms the original appraiser's methodologies, credentials, and commentary to insure compliance with regulatory requirements and industry accepted best practices, and flags all risk factors while also providing final value reconciliation used to grade the loan.

**Appendix C: Regulatory Compliance Review Scope**

This appendix provides an overview of Clayton's proprietary compliance system for 1-4 family residential mortgage loans in the due diligence process to determine, to the extent possible and subject to the caveats below, whether the loans comply with federal, state and local laws. The Disclaimer section explains limitations that you should be aware of. Additional details on the items listed below as well as Clayton's state, county and municipal testing can be provided upon request. The compliance engine is fully integrated into Clayton's proprietary due diligence platform, eCLAS.

**<u>Federal Law</u>**

**A.** **RESPA and Regulation X:** Loan level analysis on the following:

○ GFE/HUD1: confirm the correct version of the GFE and HUD1 were properly completed under the Regulation X Final Rule that became mandatory on January 1, 2010

○ Initial Good Faith Estimate, (GFE): timing and content of the initial disclosure

○ Final GFE: Verification that increases to fees from the initial GFE were disclosed within 3 days of valid changed circumstance documentation within the loan file

○ Final HUD1 Settlement Statement: verify the loan file contains the final HUD1 and the loan terms on the HUD1 correspond to the actual loan terms from the Note

○ Final GFE to HUD1 tolerance fee evaluation: confirm the fees charged on the HUD1 do not exceed the Final GFE in the 0% or 10% fee tolerance categories, including a review for a Settlement Service Provider List if the lender excludes fees that the borrower can shop for.

○ Affiliated Business Disclosure: if the loan file indicates the lender or broker referred the borrower to a known affiliate, confirm the disclosure was provided to the borrower

○ Homeownership Counseling Notice: for loan applications on or after 1/10/2014, confirm the notice was provided to the borrower within 3 days of application

**B.** **Truth in Lending Act and Regulation Z** - Loan level analysis on the following:

○ TIL Disclosure: Content of Disclosures – perform an independent recalculation of the finance charges and APR to determine whether the amounts disclosed on the final TIL were within allowable tolerances. Payment schedule accuracy, including under the Mortgage Disclosure Improvement Act for loans applications on or after January 30, 2010. Additional disclosure content with a focus on the consistency of the prepayment penalty disclosure and assumption policy with the note and security instrument.

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○ Mortgage Disclosure Improvement Act, (3/7/3 rule): Confirm the timing of the initial TIL disclosure within 3 days of application, 7 days prior to consummation, and corrected TIL disclosures provided at least 3 days prior to consummation for applications received on or after July 30, 2009 (Section 19)

○ ARM Disclosure: confirm these disclosures are in the file within 3 days of application, or 3 days of the borrower discussing ARM programs identified within the loan file

○ Right of Rescission – Review the disclosure form type, disclosure timing, disclosed dates, other material disclosures, and the loan disbursement (Section 23)

○ High Cost mortgage thresholds for points and fees (Section 32)

○ High Cost Prohibited Acts and Practices upon request (Section 33)

○ Higher Priced Mortgage Loan thresholds for APR in relation to the APOR. Including Escrow and appraisal requirements (Section 35)

○ Prohibited Acts or Practices including testing the Loan Originator compensation rules, NMLSR ID on documents, financing Credit Insurance, mandatory arbitration clauses, and NegAm Counseling (Section 36)

○ ATR/QM Ability to Repay, aka Minimum Standards for Transactions: for applications on or after 1/10/2014, confirm the loan file contains documentation to evidence the lender considered and verified the borrower has the ability to repay in accordance with the ATR requirements This included identifying whether QM loans met agency exemptions or were underwritten in accordance with Appendix Q. Non QM loans will be reviewed to ensure the lender documented that they considered and verified the 8 underwriting factors as required for ATR compliance. This review also includes evaluating loans against the new TILA prepayment penalty restrictions (Section 43)

○ TILA/RESPA Integrated Disclosures ("TRID")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Test
 whether or not the loan is subject to disclosure on TRID documents, the Loan Estimate
 ("LE") and Closing Disclosure ("CD")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Pre-application
 Requirement Testing:

● Pre-application forms cannot look similar to the LE

● Pre-application forms must contain the required disclaimer ("Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Timing
 Requirements:

● The LE was delivered or placed in the mail within 3 business days of the broker or lender receiving an application.

● The loan does not consummate (Clayton looks to the later of the note date or notary date) until the later of seven business days after the LE is delivered or placed in the mail and three business days after the CD (or Corrected CD when a new three-day waiting period is triggered) is received.

● That a revised LE or CD is provided within three business days of the lender having knowledge of the information that led to the change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Fee
 Tolerances:

● Zero and ten percent tolerance fees are only reset with a valid and timely change of circumstance.

● If a credit or refund is made, that it is sufficient to cover Clayton's calculated under-disclosure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Payment
 Schedule Accuracy:

● The number of columns and timing of changes to payments as well as the mortgage insurance drop-off match Clayton's calculated payment schedule.

● Interest-only periods and final balloon payments are accurately completed.

● The total of the principal and interest payment, mortgage insurance and escrow amounts add up correctly.

● When applicable, that the AIR and AP tables are consistent with Clayton's calculations.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Accuracy
 of the Loan Calculations

● Amount Financed

● Finance Charge

● Total of Payments

● Total interest percentage

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Technical
 Requirements

● Compliance with the TRID rounding rules.

● Compliance with specified formatting requirements.

● Compliance with date entry requirements (such as when a field, if not applicable, must be present and left blank).

● Alphabetization of fees.

● Title fees preceded by "Title –."

● Column or similar limits such as four columns for Projected Payments and a maximum of thirteen Origination Charges on the LE.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Consistency
 within and across forms

● Once a fee is disclosed it must remain substantially the same name across disclosures.

● Consistency between the Costs at Closing and Calculating Cash to Close tables, for which there is a version for transactions with a seller and an optional, but not required, version for transactions without a seller. They should be consistent within and across disclosures.

● Where amounts in a table reference that they are derived from another section of the form, that the amounts match the amount in the section referenced.

● Escrow amounts disclosed in the Projected Payments section tie out to the escrow amounts detailed in the Loan Disclosures section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Completion
 of the LE and CD

● All required fields not specifically listed herein are completed or left blank in accordance with TRID rules; creditor information, contact information, rate lock information, etc.

● For areas where multiple options are provided, such as Assumption, Negative Amortization and Liability after Foreclosure, only one option is indicated.

● That there is either a signature or a Loan Acceptance statement on the form.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Waivers

● Clayton will capture if the borrower waived their waiting period and the sufficiency of the waiver under TRID. However, based on past experience with clients, Clayton will also issue an exception for the loan closing early.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Corrected
 CD requiring a new waiting period

● Whether the APR increased or decreased outside of tolerance requiring a new waiting period and whether that waiting period was provided. For APR decreases Clayton will look to whether the APR decreased due to a reduced finance charge, which will be considered to be within tolerance.

● Whether the product or a product feature changed which requires a new waiting period and whether that waiting period was provided.

● Whether a prepayment penalty was added requiring a new waiting period and whether that waiting period was provided.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Post-Close
 CD's

● Corrected CD's provided with a post-close refund.

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● Post-close CD's to correct numerical errors based on events (such as recording) occurring within 30 days of consummation.

● Post-close CD's to correct non-numerical clerical errors required within 60 days of consummation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Related
 Documentation

● Provision and timing of Your Home Loan Toolkit (first lien, purchase-money loans)

● Written List of Providers, when there are items in in the Services You Can Shop For category (can impact fee tolerances)

● Affiliated Business Disclosure (can impact fee tolerances)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Outside
 of Clayton's default TRID scope:

● Accuracy of the LE in terms of whether fees are within the correct category and loan terms where we would need a Note to verify. More detailed testing will occur by comparing the final CD to the Note terms.

● Whether the Liability after Foreclosure selection is correct for the property state.

● Accuracy of the Aggregate Adjustment amount.

● Presence and accuracy of the Seller's Transaction columns of the Summaries of Transactions section.

● Accuracy of the Contact Information for the lender, broker and settlement agent. Clayton will look for discrepancies across forms, but is not independently verifying the information.

**C.** **FACTA** - the Credit Score, Key Factors, and Notice to Home Loan Applicant disclosures

**D.** **HMDA** – Whether the loans is Rate Spread threshold reportable.

**<u>STATE, COUNTY and MUNICIPAL LAW</u>**

**A.** **Higher-Priced** 

Clayton test whether a loan meets the thresholds for a higher-priced, rate spread, subprime or nonprime mortgage loan, and whether such loan meets regulatory requirements, in the following states:

---

| | | |
|:---|:---|:---|
| **Higher-Priced** | **Higher-Priced** | **Higher-Priced** |
| &nbsp;&nbsp;California | &nbsp;&nbsp;Maryland | &nbsp;&nbsp;New York |
| &nbsp;&nbsp;Connecticut | &nbsp;&nbsp;Massachusetts (subprime ARMS to first time homebuyers) | &nbsp;&nbsp;North Carolina |
| &nbsp;&nbsp;Maine | &nbsp;&nbsp;Minnesota |  |

---

**B.** **State/Local High Cost** 

Clayton test whether a loan meets the thresholds for a high cost or covered loan in the following states, counties and municipalities, and also tests for compliance with provisions in such laws that apply to all loans subject to high cost testing:

---

| | | |
|:---|:---|:---|
| **State/Local High Cost** | **State/Local High Cost** | **State/Local High Cost** |
| Arkansas | Maine | Pennsylvania |
| California | Maryland | Rhode Island, including the Providence ordinance |
| Colorado | Massachusetts | South Carolina |

---

MSRM 2026-DSC2 Due Diligence Narrative Report Page \| 18 April 15, 2026

![](ex994002.jpg)

---

| | | |
|:---|:---|:---|
| **State/Local High Cost** | **State/Local High Cost** | **State/Local High Cost** |
| Connecticut | Nevada | Tennessee |
| District of Columbia | New Jersey | Texas |
| Florida | New Mexico | Utah |
| Georgia | New York | Vermont<br> (High Rate, High Point law) |
| Illinois, including the Cook County and Chicago ordinances | North Carolina | Wisconsin |
| Indiana | Ohio, including<br> Cleveland Heights ordinance | |
| Kentucky | Oklahoma | |

---

**C.** **Anti-Predatory** 

Several states have laws that do not create a separate class of high cost or higher-priced mortgage loans, but set APR or finance charge ceilings and may also set forth similar anti-predatory lending restrictions as found in high cost laws. Clayton tests for compliance with such laws in the following states:

● Minnesota (Mortgage Originator and Service Licensing Act)

● Puerto Rico (Office Regulation 5722)

● Texas (Texas Finance Code)

● West Virginia (Residential Mortgage Lender, Broker and Servicer Act).

**D.** **Borrower's Interest** 

Clayton uses a module that reports to the client the factors that the client can weigh to determine whether or not the loan is in the borrower's interest, and also makes a mathematical determination as to whether or not there is at least one benefit. This module is only used in the following states, where the laws or releases by the regulators provide an indication of some standards that can be applied.

---

| | | |
|:---|:---|:---|
| **Borrower's Interest** | **Borrower's Interest** | **Borrower's Interest** |
| &nbsp;&nbsp;Maine | &nbsp;&nbsp;Ohio | &nbsp;&nbsp;South Carolina |
| &nbsp;&nbsp;Massachusetts | &nbsp;&nbsp;Rhode Island |  |

---

MSRM 2026-DSC2 Due Diligence Narrative Report Page \| 19 April 15, 2026

![](ex994002.jpg)

**E.** **Consumer Protection** 

Several states have laws that neither create a separate class of high cost or higher-priced mortgage loan, nor impose a ceiling on the overall fees or APR, but nonetheless contain requirements and restrictions on mortgage loans that may impact the assignee or the lien. Clayton tests for compliance with such laws, including late charge and prepayment penalty provisions, in the following states and municipalities:

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Consumer Protection** | &nbsp;&nbsp;**Consumer Protection** |
| &nbsp;&nbsp;Alabama (the "Mini-code") | &nbsp;&nbsp;Nebraska (Mortgage Bankers Registration and Licensing Act and the Installment Loan Act) |
| &nbsp;&nbsp;Hawaii (Financial Services Loan Company Act) | &nbsp;&nbsp;Nevada (AB 440 |
| &nbsp;&nbsp;Idaho (Residential Mortgage Practices Act) | &nbsp;&nbsp;Ohio (Consumer Sales Practices Act; whether the loan is in Summit County) |
| &nbsp;&nbsp;Illinois (both versions of the Cook County Predatory Lending Database; Illinois Residential Mortgage Licensing Act) | &nbsp;&nbsp;Texas (Article XVI, Section 50(a)(6) of the Texas Constitution) |
| Iowa (Consumer Credit Code) | Utah (Consumer Credit Code) |
| Kansas (Consumer Credit Code) | Virginia (Mortgage Lender and Broker Act) |
| &nbsp;&nbsp;Kentucky (HB 552) | &nbsp;&nbsp;Washington (Consumer Loan Act and Responsible Mortgage Lending Act) |
| Maryland (DLLR Regulations, Commercial Law) | West Virginia (Consumer Credit Protection Act) |
| Massachusetts (Attorney General regulations) | Wyoming (Residential Mortgage Practices Act) |
| Michigan (Consumer Mortgage Protection Act) |  |

---

See attached Exhibit A - Consumer Protection Laws for additional details on the specific components of the aforementioned Consumer Protection laws that are evaluated as part of the Clayton Compliance Review Scope:

**F.** **Texas Equity** 

In addition to identifying whether Texas refinances are cash out transactions subject to the Texas Constitution Article 16 Section 50(a)(6) requirements, Clayton reviews the title report to confirm prior loans being refinanced are continuous purchase money and not (a)(6) loans. In the event a loan is determined to be a Texas Home Equity loan, the underwriter reviews the loan images to confirm the loan meets the Texas requirements including maximum LTV/CLTV, 3% fee cap, product restrictions and the required disclosures were provided to the borrower in accordance with required timelines.

**<u>GSE Testing</u>**

Clayton can review loans to determine whether they comply with Fannie Mae's and Freddie Mac's Points and Fees threshold tests. These fee limitations of 5% for all loans with application dates prior to 1/10/2014 were reduced to 3% on Primary and Second Homes for applications on or after 1/10/2014. If requested, loans can be reviewed to determine whether the loan is a residential mortgage transaction ineligible for delivery due to its APR or fees exceeding the HOEPA thresholds. Clayton offers Lender Letter and non-traditional mortgage testing for Fannie Mae. (Note: Fannie Mae requires a non-disclosure agreement between the client and Fannie Mae for Clayton to report these results.)

MSRM 2026-DSC2 Due Diligence Narrative Report Page \| 20 April 15, 2026

![](ex994002.jpg)

**<u>Disclaimer</u>**

Please be advised that Clayton has not determined whether the Loans comply with federal, state or local laws, constitutional provisions, regulations or ordinances, including, but not limited to, licensing and general usury laws that set rate and/or fee limitations, unless listed above. Clayton's review is focused on issues that raise concerns for secondary market investors and other assignees, based on potential for assignee liability, an adverse impact on the lien, and regulatory, litigation and headline risk. Clayton's review is not designed to fully test a lender's compliance with all applicable disclosure and licensing requirements. Furthermore, the findings reached by Clayton are dependent upon its receiving complete and accurate data regarding the Loans from loan originators and other third parties. Please be further advised that Clayton and its employees do not engage in the practice of law, and the findings set forth in the reports prepared by Clayton do not constitute legal advice or opinions.© 2026 Clayton Services LLC. All rights reserved.

This material is confidential and may not be copied, used, or distributed without the written permission of Clayton Services LLC.

MSRM 2026-DSC2 Due Diligence Narrative Report Page \| 21 April 15, 2026

## Exhibit 99.4

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.4 - Schedule 1** 

---

| | |
|:---|:---|
| **Client Name:** | |
| **Client Project Name:** | **MSRM 2026-DSC2** |
| **Start - End Dates:** | **11/18/2026 - 12/16/2026** |
| **Deal Loan Count:** | **18** |
| **ATR QM Upload** | **ATR QM Upload** |
| *Loans in Report:* | *18* |

---

---

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | 91 | 92 | 93 | 94 | 95 | 96 | 97 | 98 | 99 | 100 | 101 | 102 | 103 | 104 | 105 | 106 | 107 | 108 | 109 | 110 | 111 | 112 | 113 | 114 | 115 | 116 | 117 | 118 | 119 | 120 | 121 | 122 | 123 | 124 | 125 | 126 | 127 | 128 | 129 | 130 | 131 | 132 | 133 | 134 | 135 | 136 | 137 | 138 | 139 | 140 | 141 | 142 | 143 | 144 | 145 | 146 | 147 | 148 | 149 | 150 | 151 | 152 | 153 | 154 | 155 | 156 | 157 | 158 | 159 | 160 | 161 | 162 | 163 | 164 | 165 | 166 | 167 | 168 | 169 | 170 | 171 | 172 | 173 | 174 | 175 | 176 | 177 | 178 | 179 | 180 | 181 | 182 | 183 | 184 | 185 | 186 | 187 | 188 | 189 | 190 | 191 | 192 | 193 | 194 | 195 | 196 | 197 | 198 | 199 | 200 | 201 | 202 | 203 | 204 | 205 | 206 | 207 | 208 | 209 | 210 | 211 | 212 | 213 | 214 | 215 | 216 | 217 | 218 | 219 | 220 | 221 | 222 | 223 | 224 | 225 | 226 | 227 | 228 | 229 | 230 | 231 | 232 | 233 | 234 | 235 | 236 | 237 | 238 | 239 | 240 | 241 | 242 | 243 | 244 | 245 | 246 | 247 | 248 |
| **Loan Number** | **Deal** | **Seller Loan Number** | **Original Principal Balance** | **State** | **Loan Level ATR/QM Status** | **Verification Safe Harbor (VSH)?** | **Lender Provided ATR/QM Worksheet** | **Initial Lender ATR/QM Status** | **Application Date** | **Borrower 1 Citizenship** | **Borrower 2 Citizenship** | **Borrowers Qualified Through a Non-Resident Alien Program** | **Occupancy** | **Property Type** | **Number of Units** | **Loan Type** | **Exempt Loan Product Type** | **Exempt Loan Housing Agency** | **Community Housing Development** | **Credit Under Economic Stabilization Act Of 2008** | **Refinance Of Non-Standard Mortgage** | **Higher Priced Covered Transaction** | **State Prepay Exceptions** | **Loan Purpose** | **Loan Term Exceeds 30 Years** | **Interest Only Feature** | **Negative Amortization** | **Balloon Payment** | **Prepay Penalty Flag** | **Prepayment Penalty Type** | **Prohibited Prepayment Penalty** | **Exceeds Points And Fees** | **Exceeds DTI Limit** | **Lien Position** | **APR** | **QM Calculated DTI Adherence** | **QM Lenders DTI Adherence** | **QM Fee Adherence - Total Charges %** | **QM Fee Adherence - Lenders Fee %** | **Fannie Mae Eligible** | **Freddie Mac Eligible** | **VA Guaranty Eligible** | **FHA Insured Eligible** | **USDA Guarantee Eligible** | **Rural Housing Service Insured Eligible** | **QM - Expected Income Or Assets For DTI** | **QM - Current Employment Status For DTI** | **QM - Monthly Payment On Subject Loan For DTI** | **QM - Monthly Payment On Additional Loan For DTI** | **QM - Monthly Payment Mortgage Related Obligations** | **QM - Current Debt Obligations Alimony and Child Support for DTI** | **QM - Monthly DTI Ratio Or Residual Income** | **One or more Verification Safe Harbor Guidelines used?** | **Current/Reasonably Expected Income or Assets per Guideline used?** | **Current Debt Obligations, Alimony & Child Support per Guideline used?** | **Monthly DTI (includes monthly payment on subject loan and simultaneous loans)** | **Monthly Residual Income per guideline used?** | **Compensating Factors used for QM determination documented before closing?** | **ATR - Guidelines Provided to Document Approach** | **ATR - Current And Expected Income And Assets** | **ATR - Current Employment Status** | **ATR - Mortgage Payment Obligation** | **ATR - Mortgage Payment on Simultaneous Transaction** | **ATR - Payment For Mortgage Related Obligations** | **ATR - Debt Obligations Including Alimony and Child Support** | **ATR - Monthly DTI Ratio or Residual Income** | **ATR - Consumer Credit History** | **ATR Lenders - DTI (Back)** | **ATR Calculated DTI (Back)** | **QM Lender Value DTI (Back)** | **QM Calculated DTI (Back)** | **Initial DTI (Back)** | **DTI Qualifying (Back)** | **Residual Income Analysis in File** | **Residual Income Guidelines** | **Did Loan Meet Guidelines** | **Residual Income Amount** | **Asset Depletion** | **Asset Depletion Months Amortized** | **Asset Utilization** | **Partial Asset Depletion** | **Short Sale** | **Short Sale Date** | **Deed In Lieu** | **Deed In Lieu Date** | **QRM Flag** | **Borrower 2 Guarantor Flag** | **Borrower 2 Personal Guaranty Recourse to Borrower** | **Borrower 3 Guarantor Flag** | **Borrower 3 Personal Guaranty Recourse to Borrower** | **Borrower 4 Guarantor Flag** | **Borrower 4 Personal Guaranty Recourse to Borrower** | **Borrower 1 Paystub Flag** | **Borrower 1 Paystub Number of Months** | **Borrower 2 Paystub Flag** | **Borrower 2 Paystub Number of Months** | **Borrower 3 Paystub Flag** | **Borrower 3 Paystub Number of Months** | **Borrower 4 Paystub Flag** | **Borrower 4 Paystub Number of Months** | **Borrower 1 W2 Flag** | **Borrower 1 W2 Number of Months** | **Borrower 2 W2 Flag** | **Borrower 2 W2 Number of Months** | **Borrower 3 W2 Flag** | **Borrower 3 W2 Number of Months** | **Borrower 4 W2 Flag** | **Borrower 4 W2 Number of Months** | **Borrower 1 Personal Tax Return Flag** | **Borrower 1 Personal Tax Return Number of Months** | **Borrower 2 Personal Tax Return Flag** | **Borrower 2 Personal Tax Return Number of Months** | **Borrower 3 Personal Tax Return Flag** | **Borrower 3 Personal Tax Return Number of Months** | **Borrower 4 Personal Tax Return Flag** | **Borrower 4 Personal Tax Return Number of Months** | **Borrower 1 Business Tax Return Flag** | **Borrower 1 Business Tax Return Number of Months** | **Borrower 2 Business Tax Return Flag** | **Borrower 2 Business Tax Return Number of Months** | **Borrower 3 Business Tax Return Flag** | **Borrower 3 Business Tax Return Number of Months** | **Borrower 4 Business Tax Return Flag** | **Borrower 4 Business Tax Return Number of Months** | **Borrower 1 Verbal VOE Flag** | **Borrower 1 Verbal VOE Number of Months** | **Borrower 2 Verbal VOE Flag** | **Borrower 2 Verbal VOE Number of Months** | **Borrower 3 Verbal VOE Flag** | **Borrower 3 Verbal VOE Number of Months** | **Borrower 4 Verbal VOE Flag** | **Borrower 4 Verbal VOE Number of Months** | **Borrower 1 Written VOE Flag** | **Borrower 1 Written VOE Form** | **Borrower 1 Written VOE Number of Months** | **Borrower 2 Written VOE Flag** | **Borrower 2 Written VOE Form** | **Borrower 2 Written VOE Number of Months** | **Borrower 3 Written VOE Flag** | **Borrower 3 Written VOE Form** | **Borrower 3 Written VOE Number of Months** | **Borrower 4 Written VOE Flag** | **Borrower 4 Written VOE Form** | **Borrower 4 Written VOE Number of Months** | **Borrower 1 P&L Flag** | **Borrower 1 P&L Prepared By** | **Borrower 1 P&L Number of Months** | **Borrower 2 P&L Flag** | **Borrower 2 P&L Prepared By** | **Borrower 2 P&L Number of Months** | **Borrower 3 P&L Flag** | **Borrower 3 P&L Prepared By** | **Borrower 3 P&L Number of Months** | **Borrower 4 P&L Flag** | **Borrower 4 P&L Prepared By** | **Borrower 4 P&L Number of Months** | **Borrower 1 Lease Agreement Flag** | **Borrower 1 Lease Agreement Number of Months** | **Borrower 2 Lease Agreement Flag** | **Borrower 2 Lease Agreement Number of Months** | **Borrower 3 Lease Agreement Flag** | **Borrower 3 Lease Agreement Number of Months** | **Borrower 4 Lease Agreement Flag** | **Borrower 4 Lease Agreement Number of Months** | **Equity Income Flag** | **Equity Income Amount** | **Equity Income Number of Months** | **Cross Collateralized Loan?** | **Is the Loan a Short-Term Rental?** | **DSCR with Rent Schedule Flag** | **DSCR with Rent Schedule Income Amount** | **DSCR with Lease Agreement Flag** | **DSCR with Lease Agreement Income Amount** | **DSCR %** | **DSCR Method Used** | **Borrower 1 CPA Letter with Income Flag** | **Borrower 1 CPA Letter with Income Number of Months** | **Borrower 1 CPA Letter without Income Flag** | **Borrower 1 CPA Letter without Income Number of Months** | **Borrower 2 CPA Letter with Income Flag** | **Borrower 2 CPA Letter with Income Number of Months** | **Borrower 2 CPA Letter without Income Flag** | **Borrower 2 CPA Letter without Income Number of Months** | **Borrower 3 CPA Letter with Income Flag** | **Borrower 3 CPA Letter with Income Number of Months** | **Borrower 3 CPA Letter without Income Flag** | **Borrower 3 CPA Letter without Income Number of Months** | **Borrower 4 CPA Letter with Income Flag** | **Borrower 4 CPA Letter with Income Number of Months** | **Borrower 4 CPA Letter without Income Flag** | **Borrower 4 CPA Letter without Income Number of Months** | **Borrower 1 Personal Bank Statements Flag** | **Borrower 1 Personal Bank Statements Number of Months** | **Borrower 2 Personal Bank Statements Flag** | **Borrower 2 Personal Bank Statements Number of Months** | **Borrower 3 Personal Bank Statements Flag** | **Borrower 3 Personal Bank Statements Number of Months** | **Borrower 4 Personal Bank Statements Flag** | **Borrower 4 Personal Bank Statements Number of Months** | **Borrower 1 Business Bank Statements Flag** | **Borrower 1 Business Bank Statements Number of Months** | **Borrower 2 Business Bank Statements Flag** | **Borrower 2 Business Bank Statements Number of Months** | **Borrower 3 Business Bank Statements Flag** | **Borrower 3 Business Bank Statements Number of Months** | **Borrower 4 Business Bank Statements Flag** | **Borrower 4 Business Bank Statements Number of Months** | **Borrower 1 Award Letter Flag** | **Borrower 1 Award Letter Number of Months** | **Borrower 2 Award Letter Flag** | **Borrower 2 Award Letter Number of Months** | **Borrower 3 Award Letter Flag** | **Borrower 3 Award Letter Number of Months** | **Borrower 4 Award Letter Flag** | **Borrower 4 Award Letter Number of Months** | **Borrower 1 Offer Letter Flag** | **Borrower 1 Offer Letter Number of Months** | **Borrower 2 Offer Letter Flag** | **Borrower 2 Offer Letter Number of Months** | **Borrower 3 Offer Letter Flag** | **Borrower 3 Offer Letter Number of Months** | **Borrower 4 Offer Letter Flag** | **Borrower 4 Offer Letter Number of Months** | **Borrower 1 IRS Transcripts - Tax Returns Flag** | **Borrower 1 IRS Transcripts - Tax Returns Number of Months** | **Borrower 1 IRS Transcripts - W2s Flag** | **Borrower 1 IRS Transcripts - W2s Number of Months** | **Borrower 2 IRS Transcripts - Tax Returns Flag** | **Borrower 2 IRS Transcripts - Tax Returns Number of Months** | **Borrower 2 IRS Transcripts - W2s Flag** | **Borrower 2 IRS Transcripts - W2s Number of Months** | **Borrower 3 IRS Transcripts - Tax Returns Flag** | **Borrower 3 IRS Transcripts - Tax Returns Number of Months** | **Borrower 3 IRS Transcripts - W2s Flag** | **Borrower 3 IRS Transcripts - W2s Number of Months** | **Borrower 4 IRS Transcripts - Tax Returns Flag** | **Borrower 4 IRS Transcripts - Tax Returns Number of Months** | **Borrower 4 IRS Transcripts - W2s Flag** | **Borrower 4 IRS Transcripts - W2s Number of Months** | **Borrower 1 Income Doc Type Summary** | **Borrower 2 Income Doc Type Summary** | **Borrower 3 Income Doc Type Summary** | **Borrower 4 Income Doc Type Summary** | **Borrower 1 Documentation Used to Determine Legal Residency** | **Borrower 2 Documentation Used to Determine Legal Residency** | **Borrower 3 Documentation Used to Determine Legal Residency** | **Borrower 4 Documentation Used to Determine Legal Residency** |
| 10178819 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | U.S. Citizen | U.S. Citizen | (No Data) | Investor | 2 Family | 2 | Conventional | No | No | (No Data) | (No Data) | (No Data) | No | (No Data) | Cashout Refi | No | No | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 6.8750 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -2960.64 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 4000.00 | No | (No Data) | 1.3510 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) |
| 10178794 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | U.S. Citizen | U.S. Citizen | (No Data) | Investor | Low Rise Condo (1-4) | 1 | Conventional | No | No | (No Data) | (No Data) | (No Data) | No | (No Data) | Cashout Refi | No | No | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 7.3750 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -3027.4 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 2950.00 | No | (No Data) | 0.9744 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) |
| 10178861 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | (No Data) | U.S. Citizen | (No Data) | Investor | SFR | 1 | Conventional | No | No | (No Data) | (No Data) | (No Data) | No | (No Data) | Cashout Refi | Yes | Yes | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 7.2499 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -1720.57 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | Yes | Full Recourse | (No Data) | (No Data) | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 2426.00 | No | (No Data) | 1.4099 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) |
| 10178744 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | U.S. Citizen | (No Data) | (No Data) | Investor | 2 Family | 2 | Conventional | No | No | (No Data) | (No Data) | (No Data) | No | (No Data) | Cashout Refi | No | No | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 7.5000 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -2246.87 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 2000.00 | No | (No Data) | 0.8901 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) |
| 10178871 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | (No Data) | U.S. Citizen | (No Data) | Investor | SFR | 1 | Conventional | No | No | (No Data) | (No Data) | (No Data) | Yes | (No Data) | Cashout Refi | No | No | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 8.6250 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -1397.28 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | Yes | Full Recourse | Yes | Full Recourse | Yes | Full Recourse | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 1450.00 | No | (No Data) | 1.0377 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | DSCR - w/rent schedule - 0 months | DSCR - w/rent schedule - 0 months | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) |
| 10178759 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | U.S. Citizen | (No Data) | (No Data) | Investor | SFR | 1 | Conventional | No | No | (No Data) | (No Data) | (No Data) | No | (No Data) | Cashout Refi | No | No | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 7.6250 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -6011.1 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 6500.00 | No | (No Data) | 1.0813 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) |
| 10178748 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | (No Data) | U.S. Citizen | (No Data) | Investor | SFR | 1 | Conventional | No | No | (No Data) | (No Data) | (No Data) | Yes | (No Data) | Cashout Refi | No | No | No | No | Yes | 1% of amt prepd | (No Data) | No | Yes | 1 | 8.3750 | No | No | 1 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -1181.32 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | Yes | Full Recourse | Yes | Full Recourse | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 1450.00 | No | (No Data) | 1.2274 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | DSCR - w/rent schedule - 0 months | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) |
| 10178847 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | U.S. Citizen | (No Data) | (No Data) | Investor | SFR | 1 | Conventional | No | No | (No Data) | (No Data) | (No Data) | Yes | (No Data) | Cashout Refi | No | No | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 8.1250 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -2188.99 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 2200.00 | No | (No Data) | 1.0050 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) |
| 10178833 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | (No Data) | U.S. Citizen | (No Data) | Investor | 4 Family | 4 | Conventional | No | No | (No Data) | (No Data) | (No Data) | No | (No Data) | Cashout Refi | No | No | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 6.8750 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -2423.02 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | Yes | Full Recourse | Yes | Full Recourse | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 3475.00 | No | (No Data) | 1.4341 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | DSCR - w/rent schedule - 0 months | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | Green Card | (No Data) |
| 10178859 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | (No Data) | U.S. Citizen | (No Data) | Investor | SFR | 1 | Conventional | No | No | (No Data) | (No Data) | (No Data) | No | (No Data) | Cashout Refi | Yes | Yes | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 7.2499 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -1792.42 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | Yes | Full Recourse | (No Data) | (No Data) | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 2925.00 | No | (No Data) | 1.6318 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) |
| 10178872 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | U.S. Citizen | (No Data) | (No Data) | Investor | SFR | 1 | Conventional | No | No | (No Data) | (No Data) | (No Data) | Yes | (No Data) | Cashout Refi | No | No | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 7.8751 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -5673.5 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 6350.00 | No | (No Data) | 1.1192 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) |
| 10178875 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | U.S. Citizen | (No Data) | (No Data) | Investor | Detached PUD | 1 | Conventional | No | No | (No Data) | (No Data) | (No Data) | No | (No Data) | Cashout Refi | Yes | Yes | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 6.4999 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -2855.09 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 2950.00 | No | (No Data) | 1.0332 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) |
| 10178807 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | (No Data) | U.S. Citizen | (No Data) | Investor | SFR | 1 | Conventional | No | No | (No Data) | (No Data) | (No Data) | No | (No Data) | Cashout Refi | No | No | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 6.6250 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -1667.39 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | Yes | Full Recourse | (No Data) | (No Data) | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 1850.00 | No | (No Data) | 1.1095 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) |
| 10178806 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | U.S. Citizen | (No Data) | (No Data) | Investor | SFR | 1 | Conventional | No | No | (No Data) | (No Data) | (No Data) | No | (No Data) | Cashout Refi | No | No | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 7.3750 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -4399.8 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 3500.00 | No | (No Data) | 0.7954 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) |
| 10178803 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | U.S. Citizen | (No Data) | (No Data) | Investor | 3 Family | 3 | Conventional | No | No | (No Data) | (No Data) | (No Data) | Yes | (No Data) | Cashout Refi | Yes | Yes | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 8.2500 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -4277.89 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 6000.00 | No | (No Data) | 1.4026 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) |
| 10178750 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | (No Data) | U.S. Citizen | (No Data) | Investor | SFR | 1 | Conventional | No | No | (No Data) | (No Data) | (No Data) | No | (No Data) | Cashout Refi | No | No | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 7.5000 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -4112.9 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | Yes | Full Recourse | (No Data) | (No Data) | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 5000.00 | No | (No Data) | 1.2156 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) |
| 10178854 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | (No Data) | U.S. Citizen | (No Data) | Investor | SFR | 1 | Conventional | No | No | (No Data) | (No Data) | (No Data) | No | (No Data) | Cashout Refi | No | No | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 7.1251 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -2365.65 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | Yes | Full Recourse | (No Data) | (No Data) | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 2000.00 | No | (No Data) | 0.8454 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) |
| 10178765 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | ATR/QM: Exempt | (No Data) | (No Data) | (No Data) | XXXXXX | U.S. Citizen | (No Data) | (No Data) | Investor | Detached PUD | 1 | Conventional | No | No | (No Data) | (No Data) | (No Data) | No | (No Data) | Cashout Refi | No | No | No | No | Yes | 5% of amt prepd | (No Data) | Yes | Yes | 1 | 6.1250 | No | No | 5 | (No Data) | (No Data) | (No Data) | No | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | 0 | 0 | 0 | 0 | 0 | 0 | (No Data) | (No Data) | (No Data) | -2255.21 | No | 0 | (No Data) | No | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | (No Data) | No | No | Yes | 2100.00 | No | (No Data) | 0.9311 | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | No | (No Data) | DSCR - w/rent schedule - 0 months | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) | (No Data) |

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<br>©2026 Clayton Services LLC. All rights reserved. Ownership and use of this report is governed by the legal agreement between Clayton and the party for which it was prepared. Any use not expressly authorized by such agreement, including reliance on this report by anyone other than such party, is prohibited.

## Exhibit 99.4

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.4 - Schedule 2** 

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| | |
|:---|:---|
| **Client Name:** | |
| **Client Project Name:** | **MSRM 2026-DSC2** |
| **Start - End Dates:** | **11/18/2026 - 12/16/2026** |
| **Deal Loan Count:** | **18** |
| **Conditions Report 2.0** | **Conditions Report 2.0** |
| ***Loans in Report:*** | *18* |
| ***Loans with Conditions:*** | *8* |
| **3 - Total Active Conditions** | **3 - Total Active Conditions** |
| **3 - Non-Material Conditions** | **3 - Non-Material Conditions** |
|  | 3 - Credit Review Scope |
|  | 1 - Category: LTV/CLTV |
|  | 2 - Category: Terms/Guidelines |
| **7 - Total Satisfied Conditions** | **7 - Total Satisfied Conditions** |
|  | 4 - Credit Review Scope |
|  | 1 - Category: Insurance |
|  | 3 - Category: Legal Documents |
|  | 3 - Property Valuations Review Scope |
|  | 1 - Category: Appraisal |
|  | 2 - Category: Property |
| **0 - Total Waived Conditions** | **0 - Total Waived Conditions** |
| <br>©2026 Clayton Services LLC. All rights reserved. Ownership and use of this report is governed by the legal agreement between Clayton and the party for which it was prepared. Any use not expressly authorized by such agreement, including reliance on this report by anyone other than such party, is prohibited. | <br>©2026 Clayton Services LLC. All rights reserved. Ownership and use of this report is governed by the legal agreement between Clayton and the party for which it was prepared. Any use not expressly authorized by such agreement, including reliance on this report by anyone other than such party, is prohibited. |

---

---

| | |
|:---|:---|
| **Client Name:** | |
| **Client Project Name:** | **MSRM 2026-DSC2** |
| **Start - End Dates:** | **11/18/2026 - 12/16/2026** |
| **Deal Loan Count:** | **18** |
| **Conditions Report 2.0** | **Conditions Report 2.0** |
| ***Loans in Report:*** | *18* |
| ***Loans with Conditions:*** | *8* |

---

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| | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Loan Number** | **Original Principal Balance** | **State** | **Initial Lender ATR/QM Status** | **Loan Level ATR/QM Status** | **Initial Securitization Compliance Loan Grade** | **Final Securitization Compliance Loan Grade** | **Initial S&P Compliance Loan Grade** | **Final S&P Compliance Loan Grade** | **Condition Category** | **Condition Sub Category** | **Condition Status** | **Condition Code** | **Condition Description** | **Condition Material Indicator** | **Initial Comments** | **Client/Seller Response Comments** | **Conclusion Comments** | **TRID Error Type** | **Cure Method** | **Compensating Factors** |
| 10178819 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt D B | A | A D B | A | A | Credit | Legal Documents | Satisfied D A | CRDLGL1819 | Estimated HUD-1 in File, Missing Final HUD-1 | No | Provide final hud-1 | 12.4.25 HUD rcvd | 12.4.25 exception satisfied | (No Data) | Not Applicable | CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: Cash Back $XXX, 21.92 months reserves, 3 months required<br>CFCFS1741: Credit score exceeds guidelines<br> - XXX Comments: Credit Score 771 exceeds the minimum of 720<br>CFCFS2860: Good credit history<br> - XXX Comments: 2% revolving credit utilized<br>CFCFS1740: Mortgage payment history exceeds guidelines<br> - XXX Comments: 25 months reviewed for primary residence mtg, exceeds the 12 months required |
| 10178819 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt D B | A | A D B | A | A | Credit | LTV/CLTV | Active C B | CRDLTV3026 | LTV Exceeds Guideline Requirement by at least 5%, but less than 10% | No | Max loan to value is 75% due to the property being purchased less than 12 months ago. Loan to Value is 80%. XXX deems this non-material. Compensating factors: FICO 770, DSCR 1.3510, 21 months in reserves. | (No Data) | (No Data) | (No Data) | Not Applicable | CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: Cash Back $XXX, 21.92 months reserves, 3 months required<br>CFCFS1741: Credit score exceeds guidelines<br> - XXX Comments: Credit Score 771 exceeds the minimum of 720<br>CFCFS2860: Good credit history<br> - XXX Comments: 2% revolving credit utilized<br>CFCFS1740: Mortgage payment history exceeds guidelines<br> - XXX Comments: 25 months reviewed for primary residence mtg, exceeds the 12 months required |
| 10178794 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt D | A | A D | A | A | Property Valuations | Property | Satisfied D A | PRVAPROP132 | Missing HOA Certificate/Questionnaire | No | Provide the HOA Certificate/Questionnaire. | 11.24.2025-Client's response: XXX, 9:30:43 amHOA questionnaire provided. Please clear finding.11.24.2025-XX response: Received the HOA Questionnaire, exception is satisfied. | 11.24.2025-Exception satisfied. | (No Data) | Not Applicable | CFCFS1742: Consumer credit history exceeds guidelines<br> - XXX Comments: 297 months credit history exceeds guidelines.<br>CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: 110+ months credit history exceeds guidelines.<br>CFCFS2860: Good credit history<br> - XXX Comments: Guarantor demonstrates good credit history. |
| 10178861 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt | N/A | N/A | N/A | N/A |  |  |  |  |  |  |  |  |  |  |  | CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: Post close reserves are $XXX, or 9.17 months. 3 months required.<br>CFCFS1736: Significant time at current residence<br> - XXX Comments: In residence 5 years.<br>CFCFS2860: Good credit history<br> - XXX Comments: Borrower has never been 1X30 with history from XXX. |
| 10178744 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt | A | A | A | A |  |  |  |  |  |  |  |  |  |  |  | CFCFS1741: Credit score exceeds guidelines<br> - XXX Comments: Credit Score 796 exceeds the minimum of 680<br>CFCFS1736: Significant time at current residence<br> - XXX Comments: 22 yrs residing in current residence<br>CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: Cash Back $XXX, 32.50 months reserves, 6 months required<br>CFCFS2860: Good credit history<br> - XXX Comments: 5% revolving credit utilized<br>CFCFS1746: Significant housing expense reduction<br> - XXX Comments: Payment reduced $XXX/month or 11.10% |
| 10178871 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt B | N/A | N/A B | N/A | N/A | Credit | Terms/Guidelines | Active B | CRDTER5518 | Loan fails XXX Minimum Equity requirement | No | Current equity $XXX. Guideline requirement $XXX. | (No Data) | (No Data) | (No Data) | Not Applicable | CFCFS1742: Consumer credit history exceeds guidelines<br> - XXX Comments: 234 months credit history exceeds guidelines.<br>CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: 85+ months reserves exceeds guidelines. |
| 10178759 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt | A | A | A | A |  |  |  |  |  |  |  |  |  |  |  | CFCFS1737: LTV below guideline requirements<br> - XXX Comments: LTV of 44.75% is below 70.00% maximum allowable per lender guidelines<br>CFCFS1741: Credit score exceeds guidelines<br> - XXX Comments: Credit score of 624 exceeds 620 the minimum required per lender guidelines<br>CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: Verified cash reserves in the amount of $XXX exceeds $XXX the minimum amount required per lender guidelines |
| 10178748 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt B | N/A | N/A B | N/A | N/A | Credit | Terms/Guidelines | Active B | CRDTER5518 | Loan fails XXX Minimum Equity requirement | No | Subject Property has $XXX Equity, which not meet the minimum Guideline requirement of $XXX. XXX deems this non-material. Compensating factors: 15 months in reserves, FICO | (No Data) | (No Data) | (No Data) | Not Applicable | CFCFS2860: Good credit history<br> - XXX Comments: Good Credit History<br>CFCFS1740: Mortgage payment history exceeds guidelines<br> - XXX Comments: 51+ Months reporting<br>CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: 15 Months Reserves |
| 10178847 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt | A | A | A | A |  |  |  |  |  |  |  |  |  |  |  | CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: Post close reserves are $XXX, or 30.72 months. Reserves not required.<br>CFCFS1736: Significant time at current residence<br> - XXX Comments: In residence 19 years.<br>CFCFS1737: LTV below guideline requirements<br> - XXX Comments: LTV of 55.56% is below guideline maximum of 70% for a DSCR cash out refinance with a 657 credit score. |
| 10178833 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt | N/A | N/A | N/A | N/A |  |  |  |  |  |  |  |  |  |  |  | CFCFS1737: LTV below guideline requirements<br> - XXX Comments: LTV of 76.50 is below guideline requirement max of 80.<br>CFCFS1741: Credit score exceeds guidelines<br> - XXX Comments: Representative score of 790 exceeds guideline requirement of 620.<br>CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: Verified reserves of $XXX or 36.09 months PITI reserve exceeds required reserves of ($XXX x 3 = $XXX). |
| 10178859 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt | N/A | N/A | N/A | N/A |  |  |  |  |  |  |  |  |  |  |  | CFCFS1741: Credit score exceeds guidelines<br> - XXX Comments: Representative score of 806 exceeds guideline requirement of 620.<br>CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: Verified reserves of $XXX or 11.10 months PITI reserve exceeds required reserves of ($XXX x 3 =$XXX).<br>CFCFS2860: Good credit history<br> - XXX Comments: Borrower has good credit history overall. |
| 10178872 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt D | A | A D | A | A | Credit | Legal Documents | Satisfied D A | CRDLGL1819 | Estimated HUD-1 in File, Missing Final HUD-1 | No | Provide final hud-1 | 12.12.25 FSS rcvd12.12.25 exception satisfied | 12.12.25 exception satisfied | (No Data) | Not Applicable | CFCFS1742: Consumer credit history exceeds guidelines<br> - XXX Comments: Credit score of747 is above the required 640<br>CFCFS1737: LTV below guideline requirements<br> - XXX Comments: LTV of 65 is below the maximum allowable of 80<br>CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: Reserves: $XXX or 108.67 months of PITIA. 6 months required. |
| 10178875 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt D | A | A D | A | A | Property Valuations | Appraisal | Satisfied D A | PRVAAPPR3116 | Missing updated valuation | No | Provide third party evaluation that supports the value of $XXX. | 12.10.25 DVR rcvd12.10.25 exception satisfied | 12.10.25 exception satisfied | (No Data) | Not Applicable | CFCFS1741: Credit score exceeds guidelines<br> - XXX Comments: Credit score of729 is above the required 620<br>CFCFS1737: LTV below guideline requirements<br> - XXX Comments: LTV of 76.5 is below the maximum allowable of 80<br>CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: Reserves: XXX or 27.89 months of PITIA. 3 months required (XXX \* 3 = XXX) |
| 10178807 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt | N/A | N/A | N/A | N/A |  |  |  |  |  |  |  |  |  |  |  | CFCFS1736: Significant time at current residence<br> - XXX Comments: Guarantor has lived at current residence 10+ years.<br>CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: 16+ months reserves exceeds guidelines.<br>CFCFS2860: Good credit history<br> - XXX Comments: Guarantor demonstrates good credit history. |
| 10178806 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt D | A | A D | A | A | Credit | Legal Documents | Satisfied D A | CRDLGL2420 | Missing HUD-1 (Final and Estimated) | No | Missing HUD | 12.22.25 FSS rcvd 12.22.25 exception satisfied | 12.22.25 exception satisfied | (No Data) | Not Applicable | CFCFS1741: Credit score exceeds guidelines<br> - XXX Comments: Qualifying FICO is 784, minimum required by G/L is 660<br>CFCFS1736: Significant time at current residence<br> - XXX Comments: The borrower has occupied their primary for 9 years<br>CFCFS1742: Consumer credit history exceeds guidelines<br> - XXX Comments: The borrower has a 20 year credit history with 5 open and active tradelines 0X30 |
| 10178803 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt | A | A | A | A |  |  |  |  |  |  |  |  |  |  |  | CFCFS1742: Consumer credit history exceeds guidelines<br> - XXX Comments: Borrower has minimal use of credit with credit usage ratio of 0%<br>CFCFS1741: Credit score exceeds guidelines<br> - XXX Comments: Credit score of725 is above the required 620<br>CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: Reserves: $XXX or 101.58 months of PITIA. 3 months required. |
| 10178750 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt D C | N/A | N/A D C | N/A | N/A | Credit | Insurance | Satisfied D A | CRDINSR3278 | Hazard Insurance documentation in file is incomplete | No | Provide the Homeowner Declaration page showing sufficient coverage. | 12.6.25 HOI & RCE provided, please clear finding.12.6.255 exception satisfied | 12.6.255 exception satisfied | (No Data) | Not Applicable | CFCFS1741: Credit score exceeds guidelines<br> - XXX Comments: Representative score of 740 exceeds guideline requirement of 620.<br>CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: Verified reserves of $XXX or 31.44 months PITI reserve exceed required reserves of ($XXX x 3 = $XXX).<br>CFCFS1736: Significant time at current residence<br> - XXX Comments: Guarantor resides at their current residence for over 33 years. |
| 10178750 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt D C | N/A | N/A D C | N/A | N/A | Property Valuations | Property | Satisfied C A | PRVAPROP177 | Property Issues Indicated | No | Provide a DVR report with the original appraisal date corrected to XXX | 12.16.25 Revised DVR provided, please clear finding.12.16.25 exception satisfied | 12.16.25 exception satisfied | (No Data) | Not Applicable | CFCFS1741: Credit score exceeds guidelines<br> - XXX Comments: Representative score of 740 exceeds guideline requirement of 620.<br>CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: Verified reserves of $XXX or 31.44 months PITI reserve exceed required reserves of ($XXX x 3 = $XXX).<br>CFCFS1736: Significant time at current residence<br> - XXX Comments: Guarantor resides at their current residence for over 33 years. |
| 10178854 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt | N/A | N/A | N/A | N/A |  |  |  |  |  |  |  |  |  |  |  | CFCFS1736: Significant time at current residence<br> - XXX Comments: Guarantor has lived at current residence 18 years.<br>CFCFS1742: Consumer credit history exceeds guidelines<br> - XXX Comments: 158 months credit history exceeds guidelines.<br>CFCFS1731: Verified cash reserves exceed guidelines<br> - XXX Comments: 30+ months reserves exceeds guidelines. |
| 10178765 | XXXXXX | XXXXXX | (No Data) | ATR/QM: Exempt | A | A | A | A |  |  |  |  |  |  |  |  |  |  |  | CFCFS1742: Consumer credit history exceeds guidelines<br> - XXX Comments: 364 months credit history exceeds guidelines.<br>CFCFS1736: Significant time at current residence<br> - XXX Comments: Guarantor has lived at current residence 5 years.<br>CFCFS2860: Good credit history<br> - XXX Comments: Guarantor demonstrates good credit history. |

---

---

| | |
|:---|:---|
| **Client Name:** | |
| **Client Project Name:** | **MSRM 2026-DSC2** |
| **Start - End Dates:** | **11/18/2026 - 12/16/2026** |
| **Deal Loan Count:** | **18** |
| **Conditions Report 2.0** | **Conditions Report 2.0** |
| ***Loans in Report:*** | *18* |
| ***Loans with Conditions:*** | *8* |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Loan Number** | **Lender Application Date** | **Broker Application Date** | **Initial Securitization Compliance Loan Grade** | **Final Securitization Compliance Loan Grade** | **Initial S&P Compliance Loan Grade** | **Final S&P Compliance Loan Grade** | **Did Lender Acknowledge Exception at Origination** |
| 10178819 | XXXXXX | XXXXXX D B A | A | A D B | A | A | Not Applicable |
| 10178794 | XXXXXX | XXXXXX D A | A | A D | A | A | Not Applicable |
| 10178861 | XXXXXX | XXXXXX A | N/A | N/A | N/A | N/A | Not Applicable |
| 10178744 | XXXXXX | XXXXXX A | A | A | A | A | Not Applicable |
| 10178871 | XXXXXX | XXXXXX B A | N/A | N/A B | N/A | N/A | Not Applicable |
| 10178759 | XXXXXX | XXXXXX A | A | A | A | A | Not Applicable |
| 10178748 | XXXXXX | XXXXXX B A | N/A | N/A B | N/A | N/A | No |
| 10178847 | XXXXXX | XXXXXX A | A | A | A | A | No |
| 10178833 | XXXXXX | XXXXXX A | N/A | N/A | N/A | N/A | No |
| 10178859 | XXXXXX | XXXXXX A | N/A | N/A | N/A | N/A | No |
| 10178872 | XXXXXX | XXXXXX D A | A | A D | A | A | No |
| 10178875 | XXXXXX | XXXXXX D A | A | A D | A | A | No |
| 10178807 | XXXXXX | XXXXXX A | N/A | N/A | N/A | N/A | No |
| 10178806 | XXXXXX | XXXXXX D A | A | A D | A | A | No |
| 10178803 | XXXXXX | XXXXXX A | A | A | A | A | Not Applicable |
| 10178750 | XXXXXX | XXXXXX D A C | N/A | N/A D C | N/A | N/A | No |
| 10178854 | XXXXXX | XXXXXX A | N/A | N/A | N/A | N/A | No |
| 10178765 | XXXXXX | XXXXXX A | A | A | A | A | Not Applicable |

---

## Exhibit 99.4

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.4 - Schedule 3** 

---

| | |
|:---|:---|
| **Client Name:** | |
| **Client Project Name:** | **MSRM 2026-DSC2** |
| **Start - End Dates:** | **11/18/2026 - 12/16/2026** |
| **Deal Loan Count:** | **18** |
| **Loan Level Tape Compare Upload** | **Loan Level Tape Compare Upload** |
| *Loans in Report* | *11* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Loan Number** | **Borrower Last Name** | **Field Name** | **Tape Data** | **Reviewer Data** |
| 10178819 | XXXXXX | Representative Credit Score for Grading | 778 | 771 |
| 10178819 | XXXXXX | Total Cash Out | XXXXXX | XXXXXX |
| 10178794 | XXXXXX | Disbursement Date | XXXXXX | XXXXXX |
| 10178794 | XXXXXX | Total Cash Out | XXXXXX | XXXXXX |
| 10178744 | XXXXXX | Total Cash Out | XXXXXX | XXXXXX |
| 10178871 | XXXXXX | Total Cash Out | XXXXXX | XXXXXX |
| 10178833 | XXXXXX | DTI Qualifying (Back) | 3.6000 | 0.0000 |
| 10178872 | XXXXXX | Borrower DSCR Percent | 0.5300 | 1.1192 |
| 10178806 | XXXXXX | Cash Reserves | XXXXXX | XXXXXX |
| 10178806 | XXXXXX | Months Reserves | 98.00 | 7.94 |
| 10178806 | XXXXXX | Total Cash Out | XXXXXX | XXXXXX |
| 10178803 | XXXXXX | Total Cash Out | XXXXXX | XXXXXX |
| 10178750 | XXXXXX | Number of Units | 2 | 1 |
| 10178750 | XXXXXX | Property Type | 2 Family | SFR |
| 10178854 | XXXXXX | Total Cash Out | XXXXXX | XXXXXX |
| 10178765 | XXXXXX | Borrower DSCR Percent | 0.8100 | 0.9311 |
| 10178765 | XXXXXX | Total Cash Out | XXXXXX | XXXXXX |

---

©2026 Clayton Services LLC. All rights reserved. Ownership and use of this report is governed by the legal agreement between Clayton and the party for which it was prepared. Any use not expressly authorized by such agreement, including reliance on this report by anyone other than such party, is prohibited.

## Exhibit 99.4

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.4 - Schedule 4**

---

| | |
|:---|:---|
| **Client Name:** | |
| **Client Project Name:** | **MSRM 2026-DSC2** |
| **Start - End Dates:** | **11/18/2026 - 12/16/2026** |
| **Deal Loan Count:** | **18** |
| **Rating Agency ATR QM Data Fields** | **Rating Agency ATR QM Data Fields** |
| *Loans in Report:* | *18* |

---

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Loan Number** | **Loan Level ATR/QM Status** | **Application Date Prior to 1/10/2014** | **Lender Application Date** | **Broker Application Date** | **GSE Eligible** | **QRM Flag** | **ATR/QM Total Points and Fees** | **Rate Lock Date** | **APR** | **Bwr 1 Employment Indicator** | **Bwr 2 Employment Indicator** | **Bwr 1 Foreign National Indicator** | **Bwr 2 Foreign National Indicator** | **Borrowers Qualified Through a Non-Resident Alien Program** | **Residual Income Analysis in File** | **ATR/QM Residual Income** |
| 10178819 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 6.875 | Unemployed | Unemployed | U.S. Citizen | U.S. Citizen | (No Data) | (No Data) | 0 |
| 10178794 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 7.375 | Unemployed | Unemployed | U.S. Citizen | U.S. Citizen | (No Data) | (No Data) | 0 |
| 10178861 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 7.2499 | Unemployed | Unemployed | (No Data) | U.S. Citizen | (No Data) | (No Data) | 0 |
| 10178744 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 7.5 | Unemployed | (No Data) | U.S. Citizen | (No Data) | (No Data) | (No Data) | 0 |
| 10178871 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 8.625 | Unemployed | Unemployed | (No Data) | U.S. Citizen | (No Data) | (No Data) | 0 |
| 10178759 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 7.625 | Unemployed | (No Data) | U.S. Citizen | (No Data) | (No Data) | (No Data) | 0 |
| 10178748 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 8.375 | Unemployed | Unemployed | (No Data) | U.S. Citizen | (No Data) | (No Data) | 0 |
| 10178847 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 8.125 | Unemployed | (No Data) | U.S. Citizen | (No Data) | (No Data) | (No Data) | 0 |
| 10178833 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 6.875 | Employed | Unemployed | (No Data) | U.S. Citizen | (No Data) | (No Data) | 0 |
| 10178859 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 7.2499 | Unemployed | Unemployed | (No Data) | U.S. Citizen | (No Data) | (No Data) | 0 |
| 10178872 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 7.8751 | Unemployed | (No Data) | U.S. Citizen | (No Data) | (No Data) | (No Data) | 0 |
| 10178875 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 6.4999 | Unemployed | (No Data) | U.S. Citizen | (No Data) | (No Data) | (No Data) | 0 |
| 10178807 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 6.625 | Unemployed | Unemployed | (No Data) | U.S. Citizen | (No Data) | (No Data) | 0 |
| 10178806 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 7.375 | Unemployed | (No Data) | U.S. Citizen | (No Data) | (No Data) | (No Data) | 0 |
| 10178803 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 8.25 | Unemployed | (No Data) | U.S. Citizen | (No Data) | (No Data) | (No Data) | 0 |
| 10178750 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 7.5 | Unemployed | Unemployed | (No Data) | U.S. Citizen | (No Data) | (No Data) | 0 |
| 10178854 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 7.1251 | Unemployed | Unemployed | (No Data) | U.S. Citizen | (No Data) | (No Data) | 0 |
| 10178765 | ATR/QM: Exempt | No | XXXXXX | XXXXXX | No | No | 0 | XXXXXX | 6.125 | Unemployed | (No Data) | U.S. Citizen | (No Data) | (No Data) | (No Data) | 0 |

---

<br>©2026 Clayton Services LLC. All rights reserved. Ownership and use of this report is governed by the legal agreement between Clayton and the party for which it was prepared. Any use not expressly authorized by such agreement, including reliance on this report by anyone other than such party, is prohibited.

## Exhibit 99.4

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.4 - Schedule 5**

---

| | |
|:---|:---|
| **Client Name:** | |
| **Client Project Name:** | **MSRM 2026-DSC2** |
| **Start - End Dates:** | **11/18/2026 - 12/16/2026** |
| **Deal Loan Count:** | 18 |
| **Valuations Summary** |  |
| *Loans In Report:* | *18* |
| *Loans In Report:* |  |

---

---

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | |  |  | **Origination Values** | **Origination Values** | **Origination Values** | **Origination Values** | **Origination Values** | **Origination Values** | **Origination Values** | **Origination Values** | **Origination Values** | **Origination Values** | **Automated Valuation Model** | **Automated Valuation Model** | **Automated Valuation Model** | **Automated Valuation Model** | **Automated Valuation Model** | **Automated Valuation Model** | **Automated Valuation Model** | **Desk Review** | **Desk Review** | **Desk Review** | **Desk Review** | **Second Desk Review** | **Second Desk Review** | **Second Desk Review** | **Second Desk Review** | **Field Review** | **Field Review** | **Field Review** | **Field Review** | **Second Field Review** | **Second Field Review** | **Second Field Review** | **Second Field Review** | **1004 SFR** | **1004 SFR** | **1004 SFR** | **1004 SFR** | **2055 Ext Only** | **2055 Ext Only** | **2055 Ext Only** | **2055 Ext Only** | **BPO (Broker Price Opinion)** | **BPO (Broker Price Opinion)** | **BPO (Broker Price Opinion)** | **BPO (Broker Price Opinion)** | **Other** | **Other** | **Other** | **Other** | **Other** | **AUS Information** |
| |  |  |  |  | **Origination Values** | **Origination Values** | **Origination Values** | **Origination Values** | **Origination Values** | **Origination Values** | **Origination Values** | **Origination Values** | **Origination Values** | **Origination Values** | **Automated Valuation Model** | **Automated Valuation Model** | **Automated Valuation Model** | **Automated Valuation Model** | **Automated Valuation Model** | **Automated Valuation Model** | **Automated Valuation Model** | **Desk Review** | **Desk Review** | **Desk Review** | **Desk Review** | **Second Desk Review** | **Second Desk Review** | **Second Desk Review** | **Second Desk Review** | **Field Review** | **Field Review** | **Field Review** | **Field Review** | **Second Field Review** | **Second Field Review** | **Second Field Review** | **Second Field Review** | **1004 SFR** | **1004 SFR** | **1004 SFR** | **1004 SFR** | **2055 Ext Only** | **2055 Ext Only** | **2055 Ext Only** | **2055 Ext Only** | **BPO (Broker Price Opinion)** | **BPO (Broker Price Opinion)** | **BPO (Broker Price Opinion)** | **BPO (Broker Price Opinion)** | **Other** | **Other** | **Other** | **Other** | **Other** | **AUS Information** |
| **Loan Number** | **Seller Loan Number** | **Original Balance** | **Sales Price** | **Value For LTV** | **Appraised Date** | **Appraised Value** | **Appraisal Form** | **AVM Vendor Name** | **Confidence Score** | **Review Date** | **Review Value** | **Variance Amount** | **Variance (%)** | **Review Type** | **Report Date** | **Value** | **Variance Amount** | **Variance (%)** | **AVM Vendor Name** | **AVM FSD** | **Confidence Score** | **Report Date** | **Value** | **Variance Amount** | **Variance (%)** | **Report Date** | **Value** | **Variance Amount** | **Variance (%)** | **Report Date** | **Value** | **Variance Amount** | **Variance (%)** | **Report Date** | **Value** | **Variance Amount** | **Variance (%)** | **Report Date** | **Value** | **Variance Amount** | **Variance (%)** | **Report Date** | **Value** | **Variance Amount** | **Variance (%)** | **Report Date** | **Value** | **Variance Amount** | **Variance (%)** | **Other - Valuation Type** | **Report Date - Other** | **Value - Other** | **Variance Amount - Other** | **Variance (%) - Other** | **CU / LCA Score** |
| 2000059067 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1025 Multi-Fam (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% |  |  |  | XXXXXX | XXXXXX | XXXXXX | -7.13% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | (No Data) |
| 2000062424 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1073 Condo (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% |  |  |  |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | 1 |
| 2000062439 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1004 SFR (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% |  |  |  | XXXXXX | XXXXXX | XXXXXX | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | 4.3 |
| 10178744 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1025 Multi-Fam (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% |  |  |  | XXXXXX | XXXXXX | XXXXXX | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | (No Data) |
| 10178871 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1004 SFR (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% |  |  |  | XXXXXX | XXXXXX | XXXXXX | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | 4 |
| 10178759 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1004 SFR (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% |  |  |  |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | 1.2 |
| 10178748 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1004 SFR (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% |  |  |  | XXXXXX | XXXXXX | XXXXXX | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | (No Data) |
| 10178847 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1004 SFR (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% |  |  |  |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | 1 |
| 10178833 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1025 Multi-Fam (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% |  |  |  | XXXXXX | XXXXXX | XXXXXX | 0.00% | XXXXXX | XXXXXX | XXXXXX | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | (No Data) |
| 10178859 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1004 SFR (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% |  |  |  | XXXXXX | XXXXXX | XXXXXX | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | 4.5 |
| 10178872 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1004 SFR (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% | Not Applicable |  | $0.00 | $0.00 | 0.00% |  |  |  | XXXXXX | XXXXXX | XXXXXX | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | 3.5 |
| 10178875 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1004 SFR (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% | Not Applicable |  | $0.00 | $0.00 | 0.00% |  |  |  | XXXXXX | XXXXXX | XXXXXX | 6.55% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | 2.6 |
| 10178807 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1004 SFR (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% |  |  |  | XXXXXX | XXXXXX | XXXXXX | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | 2.6 |
| 10178806 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1004 SFR (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% |  |  |  |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | 1.1 |
| 10178803 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1025 Multi-Fam (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% | Not Applicable |  | $0.00 | $0.00 | 0.00% |  |  |  | XXXXXX | XXXXXX | XXXXXX | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | (No Data) |
| 10178750 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1004 SFR (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% |  |  |  | XXXXXX | XXXXXX | XXXXXX | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | (No Data) |
| 10178854 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1004 SFR (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% |  |  |  |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | 1.8 |
| 10178765 | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | XXXXXX | 1004 SFR (Mar 05) | XXXXXX |  |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% |  |  |  |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  | $0.00 | $0.00 | 0.00% |  |  | $0.00 | $0.00 | 0.00% | 1 |

---

The findings in this report are preliminary and subject to revision by Clayton. This report is confidential and for Client's internal use only. This report is not for purposes of 17g5 filings and is not redacted. For Securitization reporting please submit a request to CL_SecondaryMarketAcquisitions@clayton.com

## Exhibit 99.4

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.4 - Schedule 6**

---

| | |
|:---|:---|
| **Client Name:** |  |
| **Client Project Name:** | **MSRM 2026-DSC2** |
| **Start - End Dates:** | **11/18/2026 - 12/16/2026** |
| **Deal Loan Count:** | **18** |

---

**Waived Conditions Summary - None**

<br>©2026 Clayton Services LLC. All rights reserved. Ownership and use of this report is governed by the legal agreement between Clayton and the party for which it was prepared. Any use not expressly authorized by such agreement, including reliance on this report by anyone other than such party, is prohibited.

## Exhibit 99.5

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.5**

![](ex995001.jpg)

**EXECUTIVE SUMMARY<br> Third Party Due Diligence Review**

**Overview**

Digital Risk, LLC ("Digital Risk"), a third party due diligence provider, performed the review described below on behalf of its client, Morgan Stanley Mortgage Capital Holdings LLC and/or its affiliates. The review included a total of 41 newly originated residential mortgage loans, in connection with MSRM 2026-DSC2 (the "Securitization"). The review began on November 3, 2025, and concluded on March 16, 2026.

**Scope of Review**

**Credit Review**

Digital Risk performed a "Credit Review" to verify compliance with guidelines in effect at the time of loan origination, or other guidelines provided by Client prior to review, and ensure the characteristics used by the underwriter are supported by the file documentation; and determine whether any loans outside of those guidelines contain legitimate and approved exceptions with compensating factors.

The Credit Review attempted to confirm the following:

a. <u>Review Initial & Final Application</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Check application for completeness. Determine whether the information in the preliminary Loan application,
final application, and all credit documents is consistent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Validate Social Security/Taxpayer Identification number is valid

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Compare data on final form 1003 with the data from verifications

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Form is Complete, Signed, Dated, on or before loan consummation
date,

b. <u>Review Approval Conditions</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Underwriting decision is supported (manual underwrite credit conditions
have been satisfied prior to closing the approved Loan package)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Validation of assets/funds to close

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Validation of DSCR or qualification method and LTV calculations

c. <u>Review Occupancy/Red Flags</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Occupancy is supported

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Occupancy Red Flags adequately addressed

d. <u>Verification of Borrower Original and Audit Credit Report</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Validate names, social security number(s), and addresses

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. AKA's investigated and cleared

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Acceptable credit history and credit score requirements in conformance with Visio's guidelines.

e. <u>Verification of Borrower Asset Information</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Income

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. lease agreement or market survey for rental income

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Confirm adequate funds to cover required down payment and closing costs
and reserves

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Check dates for document expiration

f. <u>Review Sales Contract</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Complete and executed

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Earnest Money Deposit verified

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Parties are consistent

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Seller contributions are within guidelines

g. <u>Hazard and Flood (if applicable)</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Verify sufficient coverage

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Verify coverage is for subject

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Validate all premiums are included in DSCR and any required upfront premium is paid

h. <u>Review Title Commitment/Policy</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Vesting correct

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Lien position

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Legal description

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Validate no encumbrances

i. <u>Review Closing Documents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Review security documents to ensure the Loan was closed in accordance with approval and with all required
signatures

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Correct and complete instruments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Review Settlement Statement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Right to Cancel (if applicable)

**Compliance Review**

Digital Risk performed a "Compliance Review" to determine, as applicable, to the extent possible and subject to the caveats below, whether the loan complies with applicable regulatory requirements as noted below, each as amended, restated and/or replaced from time to time. The Compliance Review included the following:

a. Federal Truth in Lending Act ("TILA"), as implemented by Regulation Z, 12 C.F.R. Part
1026, as set forth below (for applicable Owner Occupied Properties):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Failure to provide the right of rescission notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. failure to provide the right of rescission notice in a timely manner and to the correct consumer(s);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. errors in the right of rescission notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. failure to provide the correct form of right of rescission notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. failure to provide the three (3) business day rescission period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. any material disclosure violation on a rescindable loan that gives rise to the right of rescission
under TILA, which means the required disclosures of the annual percentage rate, the finance charge, the amount financed, the total
of payments, the payment schedule, the HOEPA disclosures;

b. <u>TILA</u> (for applicable Owner Occupied Properties)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Higher-priced Mortgage Loan (§1026.35):</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. APR threshold test; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Compliance with the escrow account and appraisal requirements.

c. Business Purpose Loan Compliance Review

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Non-Owner Occupied Declaration Disclosure

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Verify reflects correct address

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Verify application address is different from subject property

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Verify executed by all borrowers

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Review Note accuracy and properly executed

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Review Mortgage and applicable riders for accuracy and properly executed

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Occupancy Affidavit (must state that borrower(s) or if borrower is a business entity, the member(s)
and/or officer(s) of that business entity, including immediate family members of the same, will not reside in the property or claimed
as primary or secondary residence)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. HMDA section (Information for Government Monitoring Purposes) of the application (initial and/or
final)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. If property is in a flood zone, Flood Notice must be provided prior to closing

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. Right to Receive Copy of Appraisal or Appraisal Waiver Disclosure

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. Letter of Explanation detailing the use of proceeds

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Borrower's statement of purpose for the loan

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. State License requirements when applicable

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. State Predatory lending and high cost when applicable

d. <u>Exclusions</u>. Digital Risk reviews do not test for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Technical formatting of disclosures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Other Post-consummation disclosures, including Escrow Closing Notice; and Mortgage servicing transfer
and partial payment notices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. For Loans made by an FDIC-supervised institution or servicer, extended or renewed on or after January
1, 2016, whether prohibited fees were collected prior to the initial LE being issued

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Whether any fee is a "bona fide" fee for third-party services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Whether the loans comply with all federal, state or local laws, constitutional provisions, regulations
or ordinances that are not expressly enumerated above.

The Compliance Review did not include any federal, state or local laws, constitutional provisions, regulations or ordinances that are not expressly enumerated above. Furthermore, the findings reached by Digital Risk are dependent upon its receiving complete and accurate data regarding the loans from loan originators and other third parties upon which Digital Risk is relying in reaching such findings.

**Valuation Review**

Digital Risk performed a "Valuation Review," which included the following:

a. <u>Review Appraisal</u> 

b. Digital Risk's review will include a review of the valuation materials utilized during the
origination of the loan and in confirming the value of the underlying property. Digital Risk's review will include verifying
the appraisal report:

c. On the appropriate appraisal form:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All elements of appraisal are present

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Ensure all applicable Loan documents match appraisal information

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Property is acceptable collateral for Loan program

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Completed by an appraiser that was actively licensed to perform the valuation

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Completed such that the named client on the appraisal report is the lender or a related entity
that is permitted to engage the lender per Title XI of FIRREA, or if the appraisal was performed for another lender, the file contains
evidence that Client approved use of that appraisal

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. The original appraisal report is made and signed prior to the final approval of the closing of
the loan. Any revisions, if made known to Digital Risk, to the original report are documented and dated completed and dated within
the guideline's restrictions,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. The original appraisal is 'As is' or Inspection received including all inspections, licenses,
and certificates (including certificates of occupancy) to be made or issued with respect to all occupied portions of the mortgaged
property and with respect to the use and occupancy of the same, have been made or obtained from the appropriate authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. Determine whether the appraised value is supported at or within 90% based on a third-party valuation
product. If a third-party valuation product is in file, but notes less than 90% of the appraised value or an inconclusive value,
Digital Risk will review other third-party product(s) in the file to ensure the correct value was applied per Client Guidelines.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. With regard to the use of comparable properties, Digital Risk will (a) review the relative comparable
data (gross and net adjustments, sale dates and distance from subject property) and ensure that such comparable properties are
within standard appraisal guidelines, (b) confirm the property value and square footage of the subject property was bracketed by
comparable properties, (c) verify that comparable properties used are similar in size, style, and location to the subject, and
(d) check for the reasonableness of adjustments when reconciling value between the subject property and comparable properties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. Other aspects of Digital Risk's review include (i) verifying that the address matched the
mortgage note, ((ii) if requested, noting whether the property zip code was declared a FEMA disaster area after the valuation date
and notifying the Client of same, (iii) confirming the appraisal report does not include any apparent environmental problems, (iv)
confirming the appraisal notes the current use of the property is legal or legal non-conforming (grandfathered), (v) reviewing
pictures to ensure (a) that the property is in average or better condition and any repairs are noted where required and (b) that
the subject property is the one for which the valuation was ordered and that if there are negative external factors, there is support
in the loan file of the Client's approval to waive the factor; and (vi) confirming that the value product that was used as
part of the origination decision conforms with rating agency requirements.

d. If more than one valuation was provided, Digital Risk will confirm consistency among the valuation
products and if there are discrepancies that could not be resolved, Digital Risk will create an exception and work with the client
on the next steps which may include ordering of additional valuation products such as collateral desktop analyses, broker's
price opinions, and full appraisals. If the property valuation products included in Digital Risk's review result in a variance
of more than 10% then the client will be notified of such variance.

e. Digital Risk will confirm to the extent possible, that the appraiser and the appraisal made by
such appraiser both satisfied the requirements of Title XI of FIRREA. Specifically, Digital Risk will review the appraisal for
conformity to industry standards, including ensuring the appraisal was complete, that the comparable properties and adjustments
were documented and that pictures were provided and were accurate.

f. In addition, Digital Risk will access the ASC database to verify that the appraiser, and if applicable
the appraiser's supervisor, were licensed and in good standing at the time the appraisal was completed.

**Data Discrepancy Report**

As part of the Credit and Compliance Reviews, Digital Risk captured data from the source documents and compared it to a data tape provided by Client. Digital Risk provided Client a Data Discrepancy Report which shows the differences between the tape data and the data captured by Digital Risk during the diligence process. Tape values that are blank indicate that the data was not provided on the provided data tape but Digital Risk captured it during the review. The percentages are based on a population of 41 properties (41 loans) where data validation was completed. The table below reflects the discrepancies inclusive of the blank data fields:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Fields Reviewed** | &nbsp;&nbsp;**Discrepancy Count** | &nbsp;&nbsp;**Percentage** |
| &nbsp;&nbsp;Amortization Term in Months | &nbsp;&nbsp;3 | &nbsp;&nbsp;7.32% |
| &nbsp;&nbsp;Appraised Value | &nbsp;&nbsp;5 | &nbsp;&nbsp;12.20% |
| &nbsp;&nbsp;Debt Service Coverage Ratio | &nbsp;&nbsp;6 | &nbsp;&nbsp;14.63% |
| &nbsp;&nbsp;Maturity Date | &nbsp;&nbsp;2 | &nbsp;&nbsp;4.88% |
| &nbsp;&nbsp;Original Qualifying FICO Score | &nbsp;&nbsp;2 | &nbsp;&nbsp;4.88% |
| &nbsp;&nbsp;Property Type | &nbsp;&nbsp;1 | &nbsp;&nbsp;2.44% |
| &nbsp;&nbsp;Subject State | &nbsp;&nbsp;1 | &nbsp;&nbsp;2.44% |
| &nbsp;&nbsp;Subject Street Address | &nbsp;&nbsp;2 | &nbsp;&nbsp;4.88% |
| &nbsp;&nbsp;Subject Zipcode | &nbsp;&nbsp;1 | &nbsp;&nbsp;2.44% |
| &nbsp;&nbsp;The Original Principal and Interest Payment Amount | &nbsp;&nbsp;1 | &nbsp;&nbsp;2.44% |

---

**Summary of Results**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Overall Loan Results:** | &nbsp;&nbsp;**Overall Loan Results:** | &nbsp;&nbsp;**Overall Loan Results:** | &nbsp;&nbsp;**Overall Loan Results:** |
| &nbsp;&nbsp;Event Grade | &nbsp;&nbsp;Loan Count | &nbsp;&nbsp;Original Principal Balance | &nbsp;&nbsp;Percent of Sample |
| &nbsp;&nbsp;Event Grade A | &nbsp;&nbsp;38 | &nbsp;&nbsp;$8285069.00 | &nbsp;&nbsp;92.68% |
| &nbsp;&nbsp;Event Grade B | &nbsp;&nbsp;3 | &nbsp;&nbsp;$392200.00 | &nbsp;&nbsp;7.32% |
| &nbsp;&nbsp;Event Grade C | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0.00 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;Event Grade D | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0.00 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;**Total Sample** | &nbsp;&nbsp;41 | &nbsp;&nbsp;$8677269.00 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;**Credit Results:** | &nbsp;&nbsp;**Credit Results:** | &nbsp;&nbsp;**Credit Results:** | &nbsp;&nbsp;**Credit Results:** |
| &nbsp;&nbsp;Event Grade | &nbsp;&nbsp;Loan Count | &nbsp;&nbsp;Original Principal Balance | &nbsp;&nbsp;Percent of Sample |
| &nbsp;&nbsp;Event Grade A | &nbsp;&nbsp;39 | &nbsp;&nbsp;$8435069.00 | &nbsp;&nbsp;95.12% |
| &nbsp;&nbsp;Event Grade B | &nbsp;&nbsp;2 | &nbsp;&nbsp;$242200.00 | &nbsp;&nbsp;4.88% |
| &nbsp;&nbsp;Event Grade C | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0.00 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;Event Grade D | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0.00 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;**Total Sample** | &nbsp;&nbsp;41 | &nbsp;&nbsp;$8677269.00 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;**Compliance Results:** | &nbsp;&nbsp;**Compliance Results:** | &nbsp;&nbsp;**Compliance Results:** | &nbsp;&nbsp;**Compliance Results:** |
| &nbsp;&nbsp;Event Grade | &nbsp;&nbsp;Loan Count | &nbsp;&nbsp;Original Principal Balance | &nbsp;&nbsp;Percent of Sample |
| &nbsp;&nbsp;Event Grade A | &nbsp;&nbsp;40 | &nbsp;&nbsp;$8527269.00 | &nbsp;&nbsp;97.56% |
| &nbsp;&nbsp;Event Grade B | &nbsp;&nbsp;1 | &nbsp;&nbsp;$150000.00 | &nbsp;&nbsp;2.44% |
| &nbsp;&nbsp;Event Grade C | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0.00 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;Event Grade D | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0.00 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;**Total Sample** | &nbsp;&nbsp;41 | &nbsp;&nbsp;$8677269.00 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;**Valuation Results:** | &nbsp;&nbsp;**Valuation Results:** | &nbsp;&nbsp;**Valuation Results:** | &nbsp;&nbsp;**Valuation Results:** |
| &nbsp;&nbsp;Event Grade | &nbsp;&nbsp;Loan Count | &nbsp;&nbsp;Original Principal Balance | &nbsp;&nbsp;Percent of Sample |
| &nbsp;&nbsp;Event Grade A | &nbsp;&nbsp;41 | &nbsp;&nbsp;$8677269.00 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;Event Grade B | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0.00 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;Event Grade C | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0.00 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;Event Grade D | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0.00 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;**Total Sample** | &nbsp;&nbsp;41 | &nbsp;&nbsp;$8677269.00 | &nbsp;&nbsp;100.00% |

---

**Event Grade Definitions**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Final Loan Grade** | &nbsp;&nbsp;**Final Loan Grade** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;Loan meets Credit, Compliance, and Valuation Guidelines |
| &nbsp;&nbsp;B | &nbsp;&nbsp;The loan substantially meets published Client/Seller guidelines and/or eligibility in the validation of income, assets, or credit, is in material compliance with all applicable laws and regulations, and the value and valuation methodology is supported and substantially meets published guidelines. |
| &nbsp;&nbsp;C | &nbsp;&nbsp;The loan does not meet the published guidelines and/or violates one material law or regulation, and/or the value and valuation methodology is not supported or did not meet published guidelines. |
| &nbsp;&nbsp;D | &nbsp;&nbsp;Loan is missing documentation to perform a sufficient review. |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Credit Event Grades** | &nbsp;&nbsp;**Credit Event Grades** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;The loan meets the published guidelines without any exceptions. The employment, income, assets and occupancy are supported and justifiable. The borrower's willingness and ability to repay the loan is documented and reasonable. |
| &nbsp;&nbsp;B | &nbsp;&nbsp;The loan substantially meets the published guidelines but reasonable compensating factors were considered and documented for exceeding published guidelines. The employment, income, assets and occupancy are supported and justifiable. The borrower's willingness and ability to repay the loan is documented and reasonable. |
| &nbsp;&nbsp;C | &nbsp;&nbsp;The loan does not substantially meet the published guidelines. There are not sufficient compensating factors that justify exceeding the published guidelines. The employment, income, assets or occupancy are not supported and justifiable. The borrower's willingness and ability to repay the loan were not documented or are unreasonable. |
| &nbsp;&nbsp;D | &nbsp;&nbsp;There was not sufficient documentation to perform a review or the credit file was not furnished. |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Compliance Event Grades** | &nbsp;&nbsp;**Compliance Event Grades** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;The loan complies with all applicable laws and regulations. The legal documents accurately reflect the agreed upon loan terms and are executed by all applicable parties. |
| &nbsp;&nbsp;B | &nbsp;&nbsp;The loan complies with all material applicable laws and regulations. The legal documents accurately reflect the agreed upon loan terms and are executed by all applicable parties. Client review required. |
| &nbsp;&nbsp;C | &nbsp;&nbsp;The loan violates one material law or regulation. The material disclosures are absent or the legal documents do not accurately reflect the agreed upon loan terms or all required applicants did not execute the documents. |
| &nbsp;&nbsp;D | &nbsp;&nbsp;There was not sufficient documentation to perform a review or the required legal documents were not furnished. |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Valuation Event Grades** | &nbsp;&nbsp;**Valuation Event Grades** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;The valuation methodology complies with applicable underwriting guidelines and the value is supported within 90% of the original appraisal by the first third party valuation product. The appraisal was performed on an "as-is" basis and the property is complete and habitable at origination. The appraiser was appropriately licensed and used GSE approved forms. |
| &nbsp;&nbsp;B | &nbsp;&nbsp; The valuation methodology does not meet applicable published guidelines for the program. <br> The value is not supported within 90% of the original appraisal by the first third party valuation product but a second third party valuation product is provided and does support original appraised value within 90%.<br>The value is not supported within 90% of the original appraisal by the first third party valuation product; a second third party valuation product is provided and does not support the original appraised value within 90%; a third party value reconciliation product is then provided which reconciles the appraisal, first, and second valuation products, and supports within 90% of the appraisal. When a reconciliation supports the appraisal, first and second valuation products the lower of the appraised value and reconciliation will be used to establish lending value.<br>The appraisal was performed on an "as-is" basis and the property is complete and habitable. The appraiser was appropriately licensed and used GSE approved forms.  |
| &nbsp;&nbsp;C | &nbsp;&nbsp;The valuation methodology does not meet every applicable published guideline for the program. The value is not supported within 90% of the original appraisal by any of the third-party valuation products or the reconciliation. |
| &nbsp;&nbsp;D | &nbsp;&nbsp;The file was missing the appraisal or there was not sufficient valuation documentation to perform a review. |

---

## Exhibit 99.5

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.5 - Schedule 1**

---

| | | |
|:---|:---|:---|
| **Loan Count:** | 41 |  |
| **Fields Reviewed** | **Discrepancy Count** | **Percentage** |
| Amortization Term in Months | 3 | 7.32% |
| Appraised Value | 5 | 12.20% |
| Debt Service Coverage Ratio | 6 | 14.63% |
| Maturity Date | 2 | 4.88% |
| Original Qualifying FICO Score | 2 | 4.88% |
| Property Type | 1 | 2.44% |
| Subject State | 1 | 2.44% |
| Subject Street Address | 2 | 4.88% |
| Subject Zipcode | 1 | 2.44% |
| The Original Principal and Interest Payment Amount | 1 | 2.44% |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Loan Count:** | 41 |  |  |  |  |  |
| **Audit ID** | **Loan Number** | **Loan ID** | **Borrower Last Name** | **Field** | **Tape Data** | **Review Data** |
| XXXX | XXXX | 10178845 | XXXX | Maturity Date | XX/XX/XXXX | XX/XX/XXXX |
| XXXX | XXXX | 10178856 | XXXX | Maturity Date | XX/XX/XXXX | XX/XX/XXXX |
| XXXX | XXXX | 10178856 | XXXX | Subject State | XXXX | XXXX |
| XXXX | XXXX | 10178856 | XXXX | Subject Street Address | XXXX | XXXX |
| XXXX | XXXX | 10178856 | XXXX | Subject Zipcode | XXXX | XXXX |
| XXXX | XXXX | 10178746 | XXXX | Appraised Value | XXXX | XXXX |
| XXXX | XXXX | 10178746 | XXXX | Debt Service Coverage Ratio | XXXX | XXXX |
| XXXX | XXXX | 10178868 | XXXX | Appraised Value | XXXX | XXXX |
| XXXX | XXXX | 10178868 | XXXX | Debt Service Coverage Ratio | XXXX | XXXX |
| XXXX | XXXX | 10178868 | XXXX | Original Qualifying FICO Score | XXXX | XXXX |
| XXXX | XXXX | 10178868 | XXXX | Property Type | SFR | Condo, Low Rise - 4 or fewer stories |
| XXXX | XXXX | 10178868 | XXXX | Subject Street Address | XXXX | XXXX |
| XXXX | XXXX | 10178868 | XXXX | The Original Principal and Interest Payment Amount | XXXX | XXXX |
| XXXX | XXXX | 10178751 | XXXX | Original Qualifying FICO Score | XXXX | XXXX |
| XXXX | XXXX | 10178862 | XXXX | Appraised Value | XXXX | XXXX |
| XXXX | XXXX | 10178879 | XXXX | Appraised Value | XXXX | XXXX |
| XXXX | XXXX | 10178787 | XXXX | Appraised Value | XXXX | XXXX |
| XXXX | XXXX | 10178873 | XXXX | Debt Service Coverage Ratio | XXXX | XXXX |
| XXXX | XXXX | 10178799 | XXXX | Amortization Term in Months | XXXX | XXXX |
| XXXX | XXXX | 10178801 | XXXX | Amortization Term in Months | XXXX | XXXX |
| XXXX | XXXX | 10178821 | XXXX | Amortization Term in Months | XXXX | XXXX |
| XXXX | XXXX | 10178821 | XXXX | Debt Service Coverage Ratio | XXXX | XXXX |
| XXXX | XXXX | 10178768 | XXXX | Debt Service Coverage Ratio | XXXX | XXXX |
| XXXX | XXXX | 10178823 | XXXX | Debt Service Coverage Ratio | XXXX | XXXX |

---

## Exhibit 99.5

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.5 - Schedule 2**

---

| | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Loan Number** | **Loan ID** | **Finding #** | **Last Name** | **Note Date** | **Audit Category** | **Audit Issue** | **Finding ID** | **Exception Finding** | **Remediation Status** | **Exception Rebuttal** | **Exception Response** | **Status Comment** | **Compensating Factors** | **Initial Findings Grade** | **Final Findings Grade** | **Initial Loan Grade** | **Final Loan Grade** |
| XXXX | 2122519 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 2122519 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 2122519 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178856 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178856 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178856 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU dated XX/XX/XXXX with a score of XXXX was provided and supported the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178818 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178818 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178818 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178808 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178808 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178808 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178852 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178852 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178852 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | Value is supported within 10% of original appraisal amount. The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178825 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178825 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178825 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178827 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 3 | 1 |
| XXXX | 10178827 | 2 of 3 | XXXX | XXXX | Credit | Hazard Insurance - All Perils | XXXX | XXXX, HOI policy must specifically state "All Perils" or meet one of the three options provided in overlay to Correspondent. | Resolved | **Rebuttal 1 (XX/XX/XXXX XX:XXAM)<br> hoi policy<br>Rebuttal 2 (XX/XX/XXXX XX:XXPM)<br> EOI<br>**  | **Response 1 (XX/XX/XXXX XX:XXAM)<br> Documentation received is corrupt. (XXXX)<br>Response 2 (XX/XX/XXXX XX:XXPM)<br> Documentation received is sufficient. (Resolved)<br>**  |  |  | 3 | 1 | 3 | 1 |
| XXXX | 10178827 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A 2nd appraisal dated XX/XX/XXXX was provided and supported the appraised value. In addition, the CU score is XXXX. |  |  |  |  |  | 1 | 1 | 3 | 1 |
| XXXX | 10178741 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178741 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178741 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178763 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178763 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178763 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178850 | 1 of 3 | XXXX | XXXX | Compliance | Security Instrument - Inaccurate | XXXX | The security instrument was not completed accurately. The name of the Condo on the Condo rider, XXXX, differs from the name of the Condo stated in the Legal Description and appraisal, XXXX. | Resolved | **Rebuttal 1 (XX/XX/XXXX XX:XXAM)<br> corrected condo name<br>**  | **Response 1 (XX/XX/XXXX XX:XXPM)<br> The documentation provided is sufficient to clear the finding. (Resolved)<br>**  |  |  | 3 | 1 | 3 | 1 |
| XXXX | 10178850 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 3 | 1 |
| XXXX | 10178850 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. |  |  |  |  |  | 1 | 1 | 3 | 1 |
| XXXX | 10178755 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178755 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178755 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. A CDA dated XX/XX/XXXX was provided and supported the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178881 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178881 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178881 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178756 | 1 of 3 | XXXX | XXXX | Compliance | Note - Signature Discrepancy | XXXX | The borrower is an entity however the XXXX was signed as Individual and as Member with guaranty agreement. | Acknowledged |  |  |  |  | 2 | 2 | 2 | 2 |
| XXXX | 10178756 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 2 | 2 |
| XXXX | 10178756 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. |  |  |  |  |  | 1 | 1 | 2 | 2 |
| XXXX | 10178746 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178746 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178746 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178868 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178868 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178868 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The CU score is XXXX. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178780 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178780 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178780 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178836 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178836 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178836 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178870 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178870 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178870 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. CU Score XXXX. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178745 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178745 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178745 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178751 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178751 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178751 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178862 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178862 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178862 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX which supports the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178851 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 3 | 1 |
| XXXX | 10178851 | 2 of 3 | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | Guideline requirement has not been met. The appraisal reflects the subject property is tenant occupied, and the photos are evidence the subject is occupied. The loan file is missing the lease for the subject rent. | Resolved | **Rebuttal 1 (XX/XX/XXXX XX:XXPM)<br> XXXX month current lease for XXXX for $XXXX/month. Condition satisfied.<br>Rebuttal 2 (XX/XX/XXXX XX:XXPM)<br> XXXX disagrees with DSCR ratio less than XXXX and XXXX% LTV limit. DSCR is XXXX%. LTV adjustment not required with DSCR over XXXX. Please see support for calculation and XXXX guidelines on attached rebuttal. <br>**  | **Response 1 (XX/XX/XXXX XX:XXAM)<br> Stated rent was $XXXX at application. Lease provided reflects rent of $XXXX and a DSCR of less than XXXX. As a result, the XXXX% LTV exceeds the XXXX% maximum LTV for cash out with a DSCR of less than XXXX. (XXXX)<br>Response 2 (XX/XX/XXXX XX:XXAM)<br> Documentation received is sufficient. (Resolved)<br>**  |  |  | 3 | 1 | 3 | 1 |
| XXXX | 10178851 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is not supported within 10% of original appraisal amount | XXXX | The loan file did not contain a CDA. | Resolved | **Rebuttal 1 (XX/XX/XXXX XX:XXPM)<br> CDA uploaded. Acceptable and satisfies condition<br>Rebuttal 2 (XX/XX/XXXX XX:XXPM)<br> CDA uploaded<br>**  | **Response 1 (XX/XX/XXXX XX:XXPM)<br> Documentation not received. (XXXX)<br>Response 2 (XX/XX/XXXX XX:XXAM)<br> Documentation received is sufficient. (Resolved)<br>**  |  |  | 3 | 1 | 3 | 1 |
| XXXX | 10178846 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 2 | 2 |
| XXXX | 10178846 | 2 of 3 | XXXX | XXXX | Credit | DSCR - Program Parameters - Other | XXXX | The lender provided an exception to allow for a rural property. Considered non-material based on compensating factors (waived). | Waived |  |  |  | Compensating factors: XXXX, XXX mos reserves | 2 | 2 | 2 | 2 |
| XXXX | 10178846 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score XXXX. |  |  |  |  |  | 1 | 1 | 2 | 2 |
| XXXX | 10178739 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178739 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178739 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178855 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178855 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178855 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU Score XXXX. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178828 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178828 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178828 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178752 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 3 | 2 |
| XXXX | 10178752 | 2 of 3 | XXXX | XXXX | Credit | Program Parameters - Other | XXXX | A lender exception was provided to allow for the property being rural. Client to approve downgrading finding based on compensating factors. | Waived | **Rebuttal 1 (XX/XX/XXXX XX:XXPM)<br> Please see exception granted by XXXX for rural property.<br>**  | **Response 1 (XX/XX/XXXX XX:XXPM)<br> Investor approved to waive based on compensating factors. (Waived)<br>**  |  | Compensating factors: borrower has a XXXX credit score and more than XXXX months reserves. | 3 | 2 | 3 | 2 |
| XXXX | 10178752 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. |  |  |  |  |  | 1 | 1 | 3 | 2 |
| XXXX | 10178869 | 1 of 3 | XXXX | XXXX | Compliance | Note - Missing Signature | XXXX | The Note was not fully executed by the borrower. | Resolved | **Rebuttal 1 (XX/XX/XXXX XX:XXAM)<br> Please find the fully executed note. Please clear the condition. Thank you.<br>**  | **Response 1 (XX/XX/XXXX XX:XXPM)<br> The documentation provided is sufficient to clear the finding. (Resolved)<br>**  |  |  | 3 | 1 | 3 | 1 |
| XXXX | 10178869 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 3 | 1 |
| XXXX | 10178869 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. |  |  |  |  |  | 1 | 1 | 3 | 1 |
| XXXX | 10178879 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178879 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178879 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. CU score is XXXX. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178787 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178787 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178787 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178873 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178873 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178873 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178810 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178810 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178810 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178799 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178799 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178799 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178801 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178801 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178801 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX which supported the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178821 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178821 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178821 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178747 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178747 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178747 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contained a CDA dated XX/XX/XXXX which supported the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178768 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178768 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178768 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178785 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178785 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178785 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX which supports the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178843 | 1 of 4 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178843 | 2 of 4 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178843 | 3 of 4 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178843 | 4 of 4 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178823 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178823 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178823 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA, dated XX/XX/XXXX, which supports the appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178757 | 1 of 3 | XXXX | XXXX | Compliance | No Compliance Findings | XXXX | The loan is in compliance with all applicable laws and regulations. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178757 | 2 of 3 | XXXX | XXXX | Credit | No Credit Findings | XXXX | The loan meets all applicable credit guidelines. |  |  |  |  |  | 1 | 1 | 1 | 1 |
| XXXX | 10178757 | 3 of 3 | XXXX | XXXX | Valuation | Appraisal - Value is supported within 10% of original appraisal amount | XXXX | The appraised value was supported within 10% and all applicable appraisal guidelines were satisfied. The loan file contains a CDA dated XX/XX/XXXX, which supports the original appraised value. |  |  |  |  |  | 1 | 1 | 1 | 1 |

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## Exhibit 99.5

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.5 - Schedule 3**

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Loan Number** | **Loan ID** | **Original Loan Amount** | **Initial Rating** | **Final Rating** | **Initial Credit Rating** | **Final Credit Rating** | **Initial Compliance Rating** | **Final Compliance Rating** | **Initial Property Valuation Rating** | **Final Property Valuation Rating** |
| XXXX | 2122519 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178856 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178843 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178808 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178825 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178755 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178810 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178785 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178741 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178850 | XXXX | 3 | 1 | 1 | 1 | 3 | 1 | 1 | 1 C A |
| XXXX | 10178818 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178757 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178827 | XXXX | 3 | 1 | 3 | 1 | 1 | 1 | 1 | 1 C A |
| XXXX | 10178763 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178881 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178799 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178821 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178746 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178747 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178756 | XXXX | 2 | 2 | 1 | 1 | 2 | 2 | 1 | 1 B A |
| XXXX | 10178823 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178873 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178768 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178801 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178852 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178862 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178868 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178780 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178870 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178855 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178846 | XXXX | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 B A |
| XXXX | 10178879 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178751 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178752 | XXXX | 3 | 2 | 3 | 2 | 1 | 1 | 1 | 1 C B A |
| XXXX | 10178851 | XXXX | 3 | 1 | 3 | 1 | 1 | 1 | 3 | 1 C A |
| XXXX | 10178836 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178745 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178787 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178869 | XXXX | 3 | 1 | 1 | 1 | 3 | 1 | 1 | 1 C A |
| XXXX | 10178739 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |
| XXXX | 10178828 | XXXX | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 A |

---

## Exhibit 99.5

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.5 - Schedule 4**

Valuation Securitization Report

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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **ORIGINATION VALUES** | **ORIGINATION VALUES** | **ORIGINATION VALUES** | **ORIGINATION VALUES** | **ORIGINATION VALUES** | **ORIGINATION VALUES** | **ORIGINATION VALUES** | **ORIGINATION VALUES** | **ORIGINATION VALUES** | **ORIGINATION VALUES** | **ORIGINATION VALUES** | **ORIGINATION VALUES** | **ORIGINATION VALUES** | **AVM VALUES** | **AVM VALUES** | **AVM VALUES** | **AVM VALUES** | **AVM VALUES** | **AVM VALUES** | **AVM VALUES** | **DESK REVIEW VALUES** | **DESK REVIEW VALUES** | **DESK REVIEW VALUES** | **DESK REVIEW VALUES** | **DESK REVIEW VALUES** | **DESK REVIEW VALUES** | **BPO VALUES** | **BPO VALUES** | **BPO VALUES** | **BPO VALUES** | **BPO VALUES** | **FIELD REVIEW VALUES** | **FIELD REVIEW VALUES** | **FIELD REVIEW VALUES** | **FIELD REVIEW VALUES** | **FIELD REVIEW VALUES** | **2055 VALUES** | **2055 VALUES** | **2055 VALUES** | **2055 VALUES** | **2055 VALUES** | **OTHER VALUES** | **OTHER VALUES** | **OTHER VALUES** | **OTHER VALUES** | **OTHER VALUES** | **UPDATED MULTIPROPERTY VALUES** | **UPDATED MULTIPROPERTY VALUES** | **UPDATED MULTIPROPERTY VALUES** |  |  |
| **Customer Loan ID** | **Seller Loan ID** | **Subject Address** | **Subject City** | **Subject State** | **Subject Zip** | **Note Date** | **Original Loan Amount** | **Sales Price** | **PIW Indicator** | **Appraised Value** | **Value for LTV** | **Appraisal Form Type** | **Appraisal Date** | **Appraisal Company Name** | **AVM Confidence Score** | **AVM FSD Score** | **Market Condition** | **Second Appraisal Value** | **Variance Amount** | **Variance Percent** | **Second Appraisal Date** | **Second Appraisal Type** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Confidence Score** | **AVM FSD Score** | **Appraisal Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Risk Score** | **Appraisal Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Date** | **Aggregate Appraised Value** | **Aggregate Variance Amount** | **Aggregate Variance Percent** | **Is Eligible for Rep and Warrant Relief per Loan Collateral Advisor?** | **Collateral Underwriter Risk Score** |
| XXXX | 10178856 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX |  | No | XXXX | XXXX | 1073 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
| XXXX | 10178868 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1073 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.9 |
| XXXX | 10178741 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1073 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
| XXXX | 10178825 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Increasing |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | -5.714% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2 |
| XXXX | 10178755 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Increasing |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2 |
| XXXX | 10178827 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX |  | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable | XXXX | XXXX | 0.493% | XX/XX/XXXX | 1004 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
| XXXX | 10178785 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1025 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | 10178850 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1073 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | 10178843 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1025 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | 10178757 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1073 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | 10178763 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
| XXXX | 10178810 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.5 |
| XXXX | 10178870 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX |  | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
| XXXX | 10178855 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
| XXXX | 10178818 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX |  | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2.7 |
| XXXX | 10178808 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | 10178780 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1025 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | 10178846 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2.1 |
| XXXX | 10178862 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.2 |
| XXXX | 10178851 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX |  | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5 |
| XXXX | 10178751 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1025 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | 10178739 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
| XXXX | 10178879 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
| XXXX | 2122519 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
| XXXX | 10178828 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2 |
| XXXX | 10178745 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.3 |
| XXXX | 10178836 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX |  | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
| XXXX | 10178747 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2.6 |
| XXXX | 10178756 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | 10178768 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | 10178869 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
| XXXX | 10178752 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX |  | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
| XXXX | 10178821 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
| XXXX | 10178823 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1025 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | 10178801 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2.6 |
| XXXX | 10178852 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
| XXXX | 10178746 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | 10178881 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1025 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | 10178873 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5 |
| XXXX | 10178799 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Stable |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
| XXXX | 10178787 | XXXX | XXXX | XXXX | XXXX | XX/XX/XXXX | XXXX | XXXX | No | XXXX | XXXX | 1004 | XX/XX/XXXX | XXXX |  |  | Increasing |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | 0.000% | XXXX |  | XX/XX/XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

## Exhibit 99.6

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.6**

![](ex996001.jpg)

**Selene Diligence LLC ("Selene") Due**

**Diligence Review Narrative ("Report")**

Selene's Report, which is to be made available to the recipients by the Client, includes the loan level results of Selene's independent, third-party due diligence review conducted on behalf of the Client. The scope of review for these loans is as follows:

**DESCRIPTION OF SERVICES:**

&nbsp;&nbsp;&nbsp;&nbsp;**(1) Type of assets that were reviewed.**

Selene Diligence LLC performed certain due diligence services described below on residential mortgage loans originated by numerous entities and obtained by Morgan Stanley Mortgage Capital Holdings LLC and/or its affiliates ("Client"). The review was conducted between November 22 2025 and February 5 2026, via files imaged and provided for review (the "Review").

&nbsp;&nbsp;&nbsp;&nbsp;**(2) Sample size of the assets reviewed.**

This Review consisted of 100% of the loan population.

**FINAL SECURITIZATION POPULATION**

Selene was instructed to perform a review on a population totaling 50 ATR-QM exempt loans for a total of 50 loans the "Final Securitization Population".

*<u>Credit Reviews (50):</u>*

During the Review, Selene performed a credit review on 50 mortgage loans in the Final Securitization Population.

*<u>Compliance Review (50)</u>*

During the Review, Selene performed a compliance review, when applicable on 50 mortgage loans in the Final Securitization Population.

*<u>Valuation Reviews (50):</u>*

During the Review, Selene performed a property valuation review on 50 mortgage loans in the Final Securitization Population.

*<u>Data Integrity Review (50):</u>*

During the Review, Selene performed a Data Integrity Review on 50 mortgage loans in the Final Securitization Population.

**<u>FINAL SECURITIZATION POPULATION</u>**

After Selene's initial review was completed, the Client provided Selene with a confirmed list of 50 mortgage loans that formed the Final Securitization Population. The table below summarizes the reviews conducted by Selene.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Review** | &nbsp;&nbsp;**Reviewed Total** | &nbsp;&nbsp;**% of Final Securitization Population** |
| &nbsp;&nbsp;Credit Population | &nbsp;&nbsp;50 | &nbsp;&nbsp;100% |
| &nbsp;&nbsp;Compliance Population | &nbsp;&nbsp;50 | &nbsp;&nbsp;100% |
| &nbsp;&nbsp;Valuation Population | &nbsp;&nbsp;50 | &nbsp;&nbsp;100% |
| &nbsp;&nbsp;Data Integrity Population | &nbsp;&nbsp;50 | &nbsp;&nbsp;100% |

---

&nbsp;&nbsp;&nbsp;&nbsp;**(3) Determination of the sample size and computation.**

The Review was conducted with sample size criteria that has been communicated by the Client to Selene to be consistent with the criteria for the nationally recognized statistical ratings organizations identified in Item 3 of the ABS Due Diligence-15E.s, S&P Global Ratings ("S&P"), DBRS, Inc. ("DBRS"), Moody's Investors Service, Inc. ("Moody's"), and Kroll Bond Rating Agency ("Kroll"), (the "NRSRO(s)").

&nbsp;&nbsp;&nbsp;&nbsp;**(4) Quality or integrity of information or data about the assets: review and methodology.**

Where available, Selene compared the data fields on the bid tape provided by the Client to the data found in the actual loan file as captured by Selene. This information may not have been available for all mortgage loans.

&nbsp;&nbsp;&nbsp;&nbsp;**(5) Origination of the assets and conformity to stated underwriting or credit extension guidelines, standards, criteria or other requirements: review and methodology.**

Selene assessed the underwriting guidelines and compared the documentation in the loan file against the stated guidelines for adherence.

**<u>GUIDELINES</u>**

Kind Lending Non-Agency Program Guidelines (the "Guidelines").

**<u>LOAN GRADING</u>**

The Guidelines referenced above served as the benchmark for grading loans with respect to credit, compliance, underwriting, property valuation and data integrity. Each loan received an "initial" and a "final" grade. The "initial" grade was assigned during the initial loan review. The "final" grade considers additional information and supporting documentation that may have been provided by the originators to clear outstanding conditions. Selene's loan grading is solely based on Selene's independent assessment of all Guideline exceptions and compensating factors for each of the component reviews. Selene is providing a comprehensive loan-level analysis that includes initial grades, final grades and detailed commentary on the rationale for any changes in grades and sets forth compensating factors and waivers.

Page **2** of **10**

**<u>SCOPE OF REVIEW</u>**

Selene examined the selected loan files with respect to the presence or absence of relevant documents, enforceability of mortgage loan documents, and accuracy and completeness of data fields. Selene relied on the accuracy of information contained in loan documentation provided to Selene (for more detail, please refer to Appendix A and B, attached hereto).

**CREDIT REVIEW**

Selene's credit scope of review conducted on this transaction included the following elements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Assessed
 whether the characteristics of the mortgage loans and the borrowers conformed to the
 Guidelines cited above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Re-calculated
LTV, CLTV, income, liabilities and compared these against the Guidelines;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Analyzed
 asset statements to determine whether funds to close and reserves were within the Guidelines;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Confirmed
that credit scores (FICO) and credit histories were within the Guidelines.

**COMPLIANCE REVIEW**

Selene's compliance scope determined whether the mortgage loans comply with the Federal Truth in Lending Act, the Federal Real Estate Settlement Procedures Act, Sections 1098 and 1100A of Dodd Frank, Sections 1411 and 1412 of the Wall Street Reform and Consumer Protection Act, and the Equal Credit Opportunity Act.

**PROPERTY VALUATION REVIEW**

Selene's Property Valuation scope of review conducted on this transaction included the following elements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Original Appraisal Assessment** 

Selene reviewed the original appraisal provided to determine whether the original appraisal was complete, thorough and the original appraised value was reasonably supported.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Value Supported Analysis** 

Selene applied a cascade methodology to determine if the original appraised value was reasonably supported when compared to an independent third-party valuation product provided by the Client.

Page **3** of **10**

**DATA INTEGRITY REVIEW**<br>

Selene uploads tape data into its due diligence application and compares it to the actual documents provided.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Tape
data received from lender/client is stored in a secured FTP folder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Tape
data is uploaded into the application;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Loan
Reviewer collects validated loan data;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each
received data point is compared to its counterpart collected data point; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Discrepancies
found during comparison are stored and reported.

Selene provided the Client with a copy of the initial loan level tape discrepancy report which shows the differences between the data received by the Client versus the data captured by Selene during the loan review.

**<u>SUMMARY OF FINDINGS & CONCLUSIONS OF REVIEW</u>**

The NRSRO criteria referenced for this report and utilized for grading descriptions is based upon the requirements of the NRSROs.

With respect to the Final Securitization Population, Selene conducted (i) a Credit Review on 50 mortgage loans, (ii) a Compliance Review on 50 mortgage loans (iii) a Valuation Review on 50 mortgage loans, and (iv) a Data Integrity Review on 50 mortgage loans; the results of these reviews are discussed below. All grades shown below are based upon the NRSRO grading methodologies utilized by the NRSROs.

**REVIEW RESULTS SUMMARY**

After review of the 50 mortgage loans; 48 mortgage loans had a rating grade of A, 2 mortgage loan had a rating grade of B, 0 mortgage loans had a rating grade of C, and 0 mortgage loans had a rating grade of D.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;***Grades per loan (50 overall loans):*** | &nbsp;&nbsp;***Grades per loan (50 overall loans):*** | &nbsp;&nbsp;***Grades per loan (50 overall loans):*** | &nbsp;&nbsp;***Grades per loan (50 overall loans):*** | &nbsp;&nbsp;***Grades per loan (50 overall loans):*** | &nbsp;&nbsp;***Grades per loan (50 overall loans):*** | &nbsp;&nbsp;***Grades per loan (50 overall loans):*** | &nbsp;&nbsp;***Grades per loan (50 overall loans):*** |  |  |  |  |
| | | &nbsp;&nbsp;**INITIAL RA GRADES - OVERALL** | &nbsp;&nbsp;**INITIAL RA GRADES - OVERALL** | &nbsp;&nbsp;**INITIAL RA GRADES - OVERALL** | &nbsp;&nbsp;**INITIAL RA GRADES - OVERALL** | | | &nbsp;&nbsp;**FINAL RA GRADES - OVERALL** | &nbsp;&nbsp;**FINAL RA GRADES - OVERALL** | &nbsp;&nbsp;**FINAL RA GRADES - OVERALL** | &nbsp;&nbsp;**FINAL RA GRADES - OVERALL** |
| <br>&nbsp;&nbsp;**NRSRO Grade** | <br>&nbsp;&nbsp;**Moodys** | &nbsp;&nbsp;**S&P** | &nbsp;&nbsp;**DBRS** | &nbsp;&nbsp;**Kroll** | &nbsp;&nbsp;**%** | <br>&nbsp;&nbsp;**NRSRO Grade** | <br>&nbsp;&nbsp;**Moodys** | &nbsp;&nbsp;**S&P** | &nbsp;&nbsp;**DBRS** | &nbsp;&nbsp;**Kroll** | &nbsp;&nbsp;**%** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;13 | &nbsp;&nbsp;13 | &nbsp;&nbsp;13 | &nbsp;&nbsp;13 | &nbsp;&nbsp;26.00% | &nbsp;&nbsp;A | &nbsp;&nbsp;48 | &nbsp;&nbsp;48 | &nbsp;&nbsp;48 | &nbsp;&nbsp;48 | &nbsp;&nbsp;96.00% |
| &nbsp;&nbsp;B | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;B | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;4.00% |
| &nbsp;&nbsp;C | &nbsp;&nbsp;12 | &nbsp;&nbsp;12 | &nbsp;&nbsp;12 | &nbsp;&nbsp;12 | &nbsp;&nbsp;24.00% | &nbsp;&nbsp;C | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;D | &nbsp;&nbsp;25 | &nbsp;&nbsp;25 | &nbsp;&nbsp;25 | &nbsp;&nbsp;25 | &nbsp;&nbsp;50.00% | &nbsp;&nbsp;D | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |

---

Page **4** of **10**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;***Final Grades per loan broken out by compliance, credit and property:*** | &nbsp;&nbsp;***Final Grades per loan broken out by compliance, credit and property:*** | &nbsp;&nbsp;***Final Grades per loan broken out by compliance, credit and property:*** | &nbsp;&nbsp;***Final Grades per loan broken out by compliance, credit and property:*** | &nbsp;&nbsp;***Final Grades per loan broken out by compliance, credit and property:*** | &nbsp;&nbsp;***Final Grades per loan broken out by compliance, credit and property:*** | &nbsp;&nbsp;***Final Grades per loan broken out by compliance, credit and property:*** | &nbsp;&nbsp;***Final Grades per loan broken out by compliance, credit and property:*** | &nbsp;&nbsp;***Final Grades per loan broken out by compliance, credit and property:*** | &nbsp;&nbsp;***Final Grades per loan broken out by compliance, credit and property:*** | &nbsp;&nbsp;***Final Grades per loan broken out by compliance, credit and property:*** | |
| | | &nbsp;&nbsp;**FINAL RA GRADES - COMPLIANCE** | &nbsp;&nbsp;**FINAL RA GRADES - COMPLIANCE** | &nbsp;&nbsp;**FINAL RA GRADES - COMPLIANCE** | &nbsp;&nbsp;**FINAL RA GRADES - COMPLIANCE** | | | &nbsp;&nbsp;**FINAL RA GRADES - CREDIT** | &nbsp;&nbsp;**FINAL RA GRADES - CREDIT** | &nbsp;&nbsp;**FINAL RA GRADES - CREDIT** | &nbsp;&nbsp;**FINAL RA GRADES - CREDIT** |
| <br>&nbsp;&nbsp;**NRSRO Grade** | <br>&nbsp;&nbsp;**Moodys** | &nbsp;&nbsp;**S&P** | &nbsp;&nbsp;**DBRS** | &nbsp;&nbsp;**Kroll** | &nbsp;&nbsp;**%** | <br>&nbsp;&nbsp;**NRSRO Grade** | <br>&nbsp;&nbsp;**Moodys** | &nbsp;&nbsp;**S&P** | &nbsp;&nbsp;**DBRS** | &nbsp;&nbsp;**Kroll** | &nbsp;&nbsp;**%** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;50 | &nbsp;&nbsp;50 | &nbsp;&nbsp;50 | &nbsp;&nbsp;50 | &nbsp;&nbsp;100.00% | &nbsp;&nbsp;A | &nbsp;&nbsp;48 | &nbsp;&nbsp;48 | &nbsp;&nbsp;48 | &nbsp;&nbsp;48 | &nbsp;&nbsp;96.00% |
| &nbsp;&nbsp;B | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;B | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;4.00% |
| &nbsp;&nbsp;C | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;C | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;D | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;D | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
|  |  | &nbsp;&nbsp;**FINAL RA GRADES - PROPERTY** | &nbsp;&nbsp;**FINAL RA GRADES - PROPERTY** | &nbsp;&nbsp;**FINAL RA GRADES - PROPERTY** | &nbsp;&nbsp;**FINAL RA GRADES - PROPERTY** |  |  |  |  |  |  |
| &nbsp;&nbsp;**NRSRO Grade** | &nbsp;&nbsp;**Moodys** | &nbsp;&nbsp;**S&P** | &nbsp;&nbsp;**DBRS** | &nbsp;&nbsp;**Kroll** | &nbsp;&nbsp;**%** |  |  |  |  |  |  |
| &nbsp;&nbsp;A | &nbsp;&nbsp;50 | &nbsp;&nbsp;50 | &nbsp;&nbsp;50 | &nbsp;&nbsp;50 | &nbsp;&nbsp;100.00% |  |  |  |  |  |  |
| &nbsp;&nbsp;B | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |  |  |  |  |  |  |
| &nbsp;&nbsp;C | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |  |  |  |  |  |  |
| &nbsp;&nbsp;D | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |  |  |  |  |  |  |

---

**<u>REVIEW RESULTS SUMMARY (EXCEPTION LISTING)</u>**

Review of the Final Grading Summary (redacted) provides the exceptions in detail and the migration from the initial rating agency grade to the final rating agency grade, based on mitigation/resolution from the client.

*Disclaimer:* Please be advised that Selene did not make a determination as to whether the mortgage loans complied with federal, state or local laws, constitutional provisions, regulations or ordinances that are not expressly enumerated below. There can be no assurance that the Review uncovered all relevant factors relating to the origination of the mortgage loans, their compliance with all applicable laws and regulations and the original appraisals relating to the mortgaged properties or uncovered all relevant factors that could affect the future performance of the mortgage loans. Furthermore, the findings reached by Selene are dependent upon its receiving complete and accurate data regarding the mortgage loans from mortgage loan originators and other third parties upon which Selene is relying in reaching such findings.

Page **5** of **10**

Please be further advised that Selene does not employ personnel who are licensed to practice law in the various jurisdictions, and the findings set forth in the reports prepared by Selene do not constitute legal advice or opinions. They are recommendations or conclusions based on information provided to Selene. Information contained in any Selene report related to the applicable statute of limitations for certain claims may not be accurate or reflect the most recent controlling case law. Further, a particular court in a particular jurisdiction may extend, not enforce or otherwise allow claims beyond the statute of limitations identified in the report based on certain factors, including the facts and circumstances of an individual mortgage loan. Risk levels associated with a loan may have changed an exception level, given rating agency published guidance, written guidance, or other guidance from the rating agency team on the transaction. All final decisions as to whether to purchase or enter into a transaction related to any individual mortgage loan or the mortgage loans in the aggregate, any investment strategy and any legal conclusions, including the potential liability related to the purchase or other transaction involving any such mortgage loan or mortgage loans, shall be made solely by the Client, or other agreed upon party, that has engaged Selene to prepare its reports pursuant to its instructions and Guidelines. The Client, or other agreed upon party, acknowledges and agrees that the scoring models applied by Selene are designed to identify potential risk and the Client, or other agreed upon party, assumes sole responsibility for determining the suitability of the information for its particular use. Selene does not make any representation or warranty as to the value of any mortgage loan or mortgage loans collateral that has been reviewed by Selene.

**<u>THIRD PARTY REVIEW REPORTING DELIVERED</u>**

Selene furnished the following reports on this transaction:

1. Selene
Narrative Report

2. ASF
Report

3. Grading
Summary

4. Exception
Detail

5. Tape
Discrepancies

6. Valuations
Report

7. Supplemental
Data

8. Third
Party (TPR) Attestation Form

9. Attestation
Form 15E

Page **6** of **10**

**APPENDIX A – CREDIT REVIEW SCOPE**

Selene reviewed the origination documentation contained in the mortgage loan file to determine conformity to the stated underwriting or credit extension guidelines, standards, criteria or other requirements that are provided to Selene and/or as directed by Client. When applicable, a review of the mortgage loan file to the Automated Underwriting System output within the file was also performed.

**Credit Application**

For the Credit Application, Selene verified whether:

&nbsp;&nbsp;&nbsp;&nbsp;1. The
 application is signed by all listed borrowers;

&nbsp;&nbsp;&nbsp;&nbsp;2. The
 application is substantially filled out; and

&nbsp;&nbsp;&nbsp;&nbsp;3. All
 known borrower-owned properties are disclosed on the Real Estate Owned section.

**Credit Report**

Selene verified:

&nbsp;&nbsp;&nbsp;&nbsp;1. A
 credit report and/or other credit history documentation is present for each borrower;

&nbsp;&nbsp;&nbsp;&nbsp;2. Capture
 the monthly consumer debt payments for use in the debt to income and/or residual income
 calculation, as applicable;

&nbsp;&nbsp;&nbsp;&nbsp;3. Note
 the Real Estate Owned and fraud alerts; and

&nbsp;&nbsp;&nbsp;&nbsp;4. Gather
 data required for ASF Report submission which may include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Most
 recent FICO Score (scores from Equifax, Experian, and Transunion if available)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Most
 recent FICO date

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Longest
 Trade Line

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Maximum
 Trade Line

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) Number
 of trade lines

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) Credit
 Usage Ratio

**Employment and Income**

Selene determined whether all applicable supporting documentation as required by the guidelines is in the file and note indications of potentially fraudulent documents. The documentation was also be used to verify whether the income used to qualify the loan was calculated in accordance with applicable guidelines. Documentation verifying employment and income may include:

&nbsp;&nbsp;&nbsp;&nbsp;1. Verbal
 or Written VOE's

&nbsp;&nbsp;&nbsp;&nbsp;2. Pay
 stubs

&nbsp;&nbsp;&nbsp;&nbsp;3. W-2
 forms

&nbsp;&nbsp;&nbsp;&nbsp;4. Tax
 returns

&nbsp;&nbsp;&nbsp;&nbsp;5. Financial
 statements

&nbsp;&nbsp;&nbsp;&nbsp;6. Award
 letters

&nbsp;&nbsp;&nbsp;&nbsp;7. Bank
 statements

Page **7** of **10**

**Asset Review**

Selene assessed whether the asset documentation required by the guidelines is present in the file. In addition, a review of the reserve calculation was performed. Documentation verifying assets for down payment, closing costs, prepaid items and reserves may include:

&nbsp;&nbsp;&nbsp;&nbsp;1. VOD's

&nbsp;&nbsp;&nbsp;&nbsp;2. Depository
 account statements

&nbsp;&nbsp;&nbsp;&nbsp;3. Stock
 or security account statements

&nbsp;&nbsp;&nbsp;&nbsp;4. Gift
 funds

&nbsp;&nbsp;&nbsp;&nbsp;5. Settlement
 statement or other evidence of conveyance and transfer of funds if a sale of assets was
 involved

**Hazard/Flood insurance** 

A review of the insurance present on the loan was also be performed:

&nbsp;&nbsp;&nbsp;&nbsp;1. Verify
 that the hazard insurance meets the minimum required amount of coverage in the guidelines;

&nbsp;&nbsp;&nbsp;&nbsp;2. For
 condominium properties, confirm that the blanket policy meets the minimum amount of coverage;

&nbsp;&nbsp;&nbsp;&nbsp;3. Confirm
 that the flood cert is for the correct borrower, property, lender and loan number and
 is a "Life of Loan" certification;

&nbsp;&nbsp;&nbsp;&nbsp;4. For
 properties is in a flood zone per the flood cert, confirm that flood insurance in the
 file meets the minimum required amount of coverage and meets guideline requirements;

&nbsp;&nbsp;&nbsp;&nbsp;5. Confirm
 that the mortgagee clause lists the lender's name and "its successors and
 assigns"; and

&nbsp;&nbsp;&nbsp;&nbsp;6. Confirm
 that the premium amount on both the hazard and flood insurance match what was used in
 the DTI calculations.

**Title**

Verified whether the appropriate vestee is on the title document: if a purchase, the seller; if a refinance, the borrower and review the Title Commitment for the disclosure issues.

**Fraud**

To the extent potentially fraudulent activity is identified as part of the document review, such information was reported to Client. In addition, when required, Selene looked for an independent, third party fraud report in each file and will review the results of the fraud report in conjunction with source documents found in the file to assess the likelihood of any misrepresentations associated with the origination of the loan. If the loan does not contain a fraud report and the counterparty cannot produce one, Selene conditioned the loan for the missing product.

On this Fraud report Selene:

&nbsp;&nbsp;&nbsp;&nbsp;1. Reviewed
for any name variations for the borrowers and confirm that the variations have been addressed in the loan file;

&nbsp;&nbsp;&nbsp;&nbsp;2. Reviewed
for any social security number variations for the borrowers and confirm that the variations have been addressed in the loan file;

Page **8** of **10**

&nbsp;&nbsp;&nbsp;&nbsp;3. Reviewed
for any potential occupancy issues based on the borrowers' address history and confirm that any issues have been addressed
in the loan file;

&nbsp;&nbsp;&nbsp;&nbsp;4. Reviewed
for any employment issues and confirm that any issues have been addressed in the loan file;

&nbsp;&nbsp;&nbsp;&nbsp;5. Reviewed
for any additional consumers associated with the borrowers' profiles and confirm the materiality and material issues have
been addressed in the loan file; and

&nbsp;&nbsp;&nbsp;&nbsp;6. Addressed
all red flag issues.

**Additional Review**

Selene's review procedures also included:

&nbsp;&nbsp;&nbsp;&nbsp;1. A
 review of the completeness and accuracy of the information obtained in the mortgage origination
 process;

&nbsp;&nbsp;&nbsp;&nbsp;2. A
 review of closing documents to ensure that the mortgage file information is complete,
 accurate, and consistent with other documents in the mortgage file;

&nbsp;&nbsp;&nbsp;&nbsp;3. Selene
 will review the mortgage file documents to determine that the mortgage was properly underwritten;

&nbsp;&nbsp;&nbsp;&nbsp;4. Verification
 that the DTI, LTV, asset reserves, property type, transaction type (maximum loan amount,
 loan purpose, occupancy, etc.), and FICO scores meet or exceed the guideline requirements;

&nbsp;&nbsp;&nbsp;&nbsp;5. Verification
 that all borrowers are eligible based on the guidelines and information in the loan file;
 and

&nbsp;&nbsp;&nbsp;&nbsp;6. Verify
 there is appropriate documentation present to confirm that applicable documents have
 been recorded or have been sent for recording.

Page **9** of **10**

**APPENDIX B – VALUATION REVIEW SCOPE**

Selene reviewed the valuation materials utilized during the origination of the loan which confirmed the value of the underlying property. Selene verified the appraisal report was (i) on the appropriate GSE form, (ii) materially complete, (iii) in conformity with the guideline requirements for the property type in question, (iv) completed by an appraiser that was actively licensed to perform the valuation, (v) completed such that the named client on the appraisal report is the lender or a related entity that is permitted to engage the lender per Title XI of FIRREA, (vi) made and signed prior to the final approval of the mortgage loan application, (vii) completed and dated within the guidelines restrictions, (vii) made on an "as is" basis or provides satisfactory evidence of completion of all material conditions including all inspections, licenses, and certificates (including certificates of occupancy) to be made or issued with respect to all occupied portions of the mortgaged property and with respect to the use and occupancy of the same, have been made or obtained from the appropriate authorities; and (viii) noting whether the property zip code was declared a FEMA disaster area after the valuation date and notifying the Client of same.

If more than one valuation is provided for review, Selene confirmed consistency among the valuation products and if there are discrepancies that cannot be resolved, Selene created an exception and worked with the Client on the next steps, which may include ordering of additional valuation products such as collateral desktop analyses, broker's price opinions, and full appraisals. If the property valuation products included in Selene's review results in a variance of more than 10% then the Client shall be notified of such variance and a second independent valuation product shall be ordered. On all loans, Selene makes a determination as to whether appraised value is supported based on documentation available at the time of review and adds exceptions or comments as appropriate.

Selene confirmed consistency among the valuation products and where applicable, if there was a discrepancy in value between two appraisals in the form of a variance greater than 10%, Selene would review the file for a desktop analysts/evaluation of the appraisals and determine which appraised value was used for qualification purposes. If there were discrepancies that could not be resolved, Selene created an exception and worked with the client on the next steps for resolution.

Disclaimer

○ The individuals performing the aforementioned original appraisal assessment are not persons providing valuations for purposes of the Uniform Standards of Professional Appraisal Practice ("USPAP") or necessarily licensed as appraisers under Federal or State law, and the services being performed by such persons do not constitute "appraisal reviews" for purposes of USPAP or Federal or State law.

○ Selene makes no representation or warranty as to the value of any mortgaged property, notwithstanding that Selene may have reviewed valuation information for reasonableness.

○ Selene is not an 'AMC' (appraisal management company) and therefore Selene does not opine on the actual value of the underlying property.

● Selene is not a 'creditor' within the meaning of ECOA or other lending laws and regulations, and therefore Selene will not have any communication with or responsibility to any individual consumer concerning property valuation.

● Selene does not confirm whether the appraiser is on the Freddie Mac exclusionary list.

Page **10** of **10**

## Exhibit 99.6

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.6 - Schedule 1**

---

| | | | |
|:---|:---|:---|:---|
| **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** |
| **Loan ID** | **Seller Loan ID** | **Investor Loan ID** | **Original Loan Amount** |
| 10178840 |  |  | XXXX C D A |
| 10178876 |  |  | XXXX C A |
| 10178824 |  |  | XXXX D A |
| 10178788 |  |  | XXXX C A |
| 10178820 |  |  | XXXX C A |
| 10178865 |  |  | XXXX D A |
| 10178784 |  |  | XXXX D A B |
| 10178742 |  |  | XXXX C D A |
| 10178849 |  |  | XXXX D A |
| 10178822 |  |  | XXXX D A |
| 10178853 |  |  | XXXX C A |
| 10178805 |  |  | XXXX C A D |
| 10178770 |  |  | XXXX A |
| 10178831 |  |  | XXXX A D |
| 10178779 |  |  | XXXX A |
| 10178777 |  |  | XXXX C A D |
| 10178754 |  |  | XXXX A D |
| 10178857 |  |  | XXXX C A |
| 10178858 |  |  | XXXX D A B |
| 10178781 |  |  | XXXX C A D |
| 10178815 |  |  | XXXX A |
| 10178792 |  |  | XXXX C A |
| 10178782 |  |  | XXXX A |
| 10178776 |  |  | XXXX C D A |
| 10178834 |  |  | XXXX A |
| 10178839 |  |  | XXXX C A |
| 10178783 |  |  | XXXX C A |
| 10178790 |  |  | XXXX D A |
| 10178743 |  |  | XXXX A D |
| 10178866 |  |  | XXXX D A |
| 10178769 |  |  | XXXX A D |
| 10178863 |  |  | XXXX A |
| 10178837 |  |  | XXXX A |
| 10178772 |  |  | XXXX C D A |
| 10178760 |  |  | XXXX C A |
| 10178802 |  |  | XXXX A |
| 10178797 |  |  | XXXX C A |
| 10178786 |  |  | XXXX C D A |
| 10178753 |  |  | XXXX C A D |
| 10178877 |  |  | XXXX D A |
| 10178804 |  |  | XXXX D A |
| 10178793 |  |  | XXXX A |
| 10178841 |  |  | XXXX A |
| 10178775 |  |  | XXXX A |
| 10178800 |  |  | XXXX A |
| 10178795 |  |  | XXXX C A |
| 10178764 |  |  | XXXX D A |
| 10178789 |  |  | XXXX C D A |
| 10178811 |  |  | XXXX A |
| 10178762 |  |  | XXXX C A |

---

## Exhibit 99.6

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.6 - Schedule 2**

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| **Loan ID** | **Seller Loan ID** | **Investor Loan ID** | **Note Date** | **Original Loan Amount** | **Sales Price** | **Total Adjusted Prior Purchase Price** | **Primary Appraised Value** | **Primary Appraisal Date** | **Primary Appraisal Type** | **Primary Appraisal Company** | **Primary Appraiser Name** | **Primary Appraiser License Number** | **Value for LTV** | **LTV** | **CLTV** | **Loan Reviewed Property Value** | **Loan Reviewed Variance Amount** | **Loan Reviewed Variance Percent** | **Loan Reviewed Product Type** | **Loan Post-Close Reviewed Property Value** | **Loan Post-Close Reviewed Variance Amount** | **Loan Post-Close Reviewed Variance Percent** | **Loan Post-Close Reviewed Product Type** | **Second Appraisal Value** | **Second Appraisal Variance Amount** | **Second Appraisal Variance Percent** | **Second Appraisal Date** | **Second Appraisal Type** | **AVM Appraised Value** | **AVM Variance Amount** | **AVM Variance Percent** | **AVM Confidence Score** | **FSD Score** | **AVM Company Name** | **AVM Product Name** | **AVM Appraisal Date** | **Desk Review Appraised Value** | **Desk Review Variance Amount** | **Desk Review Variance Percent** | **Desk Review Company** | **Desk Review Risk Score** | **Desk Review Appraisal Date** | **Desk Top Appraised Value** | **Desk Top Variance Amount** | **Desk Top Variance Percent** | **Desk Top Company** | **Desk Top Appraisal Date** | **BPO Appraised Value** | **BPO Variance Amount** | **BPO Variance Percent** | **BPO Company** | **BPO Appraisal Date** | **Field Review Appraised Value** | **Field Review Variance Amount** | **Field Review Variance Percent** | **Field Review Company** | **Field Review Appraisal Date** | **2055 Appraised Value** | **2055 Variance Amount** | **2055 Variance Percent** | **2055 Company** | **2055 Appraisal Date** | **AVE/CMA Appraised Value** | **AVE/CMA Variance Amount** | **AVE/CMA Variance Percent** | **AVE/CMA Company** | **AVE/CMA Appraisal Date** | **Completion Report (1004D) Date** | **Other Appraised Value** | **Other Variance Amount** | **Other Variance Percent** | **Other Appraisal Date** | **Updated Appraised Value** | **Updated Variance Amount** | **Updated Variance Percent** | **Updated Company** | **Updated Appraisal Date** | **Updated Appraisal Type** | **Loan Collateral Advisor Risk Score** | **Loan Collateral Advisor Risk Score Date** | **Collateral Underwriter Risk Score** | **Collateral Underwriter Risk Score Date** |
| 10178840 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1025 Small Residential Income Report | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | Moderate Risk | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178876 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | Low | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178824 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | Low Risk | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178788 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 70.0 | 70.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1.1 | XXXX |
| 10178820 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1.8 | XXXX |
| 10178865 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178784 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | XXXX | .0000 | Loan Collateral Advisor (LCA) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  | 2.5 | XXXX Eligible |  | XXXX |
| 10178742 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1025 Small Residential Income Report | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | Low Risk | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178849 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1025 Small Residential Income Report | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | Low Risk | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178822 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 70.37 | 70.37 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178853 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 63.64 | 63.64 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | LOW RISK | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178805 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 70.45 | 70.45 | XXXX | XXXX | .0000 | Loan Collateral Advisor (LCA) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  | 1.5 | XXXX Eligible |  | XXXX |
| 10178770 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1025 Small Residential Income Report | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | Moderate Risk | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178831 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 73.09 | 73.09 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178779 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1025 Small Residential Income Report | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | -.0814 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | -.0814 | XXXX | Moderate RIsk | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178777 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Loan Collateral Advisor (LCA) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  | 1 | XXXX Eligible |  | XXXX |
| 10178754 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1025 Small Residential Income Report | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | Low Risk | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178857 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1025 Small Residential Income Report | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | -.0581 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | -.0581 | XXXX | MODERATE RISK | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178858 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | Low | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178781 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | XXXX | .0000 | Loan Collateral Advisor (LCA) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  | 1 | XXXX Eligible |  | XXXX |
| 10178815 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178792 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1025 Small Residential Income Report | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | LOW RISK | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178782 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178776 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1025 Small Residential Income Report | XXXX | XXXX | XXXX | XXXX | 52.38 | 52.38 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | Low Risk | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178834 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1025 Small Residential Income Report | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | Moderate | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178839 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1025 Small Residential Income Report | XXXX | XXXX | XXXX | XXXX | 70.39 | 70.39 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | Low Risk | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178783 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 2.3 | XXXX |
| 10178790 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 70.0 | 70.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1.8 | XXXX |
| 10178743 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 70.0 | 70.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178866 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1.3 | XXXX |
| 10178769 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | Moderate Risk | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178863 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178837 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1.5 | XXXX |
| 10178772 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1.5 | XXXX |
| 10178760 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 70.0 | 70.0 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | Low Risk | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178802 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | Low | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178797 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178786 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 74.31 | 74.31 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | Low Risk | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178753 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 72.97 | 72.97 | XXXX | XXXX | .0000 | Loan Collateral Advisor (LCA) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  | 1.5 | XXXX Eligible |  | XXXX |
| 10178877 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178804 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 80.0 | 80.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178793 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | Low Risk | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178841 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Loan Collateral Advisor (LCA) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  | 1 | XXXX Eligible |  | XXXX |
| 10178775 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178800 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178795 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1025 Small Residential Income Report | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Desk Review |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX | .0000 | XXXX | LOW RISK | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX |  | XXXX |
| 10178764 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178789 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 73.08 | 73.08 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178811 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1073 Individual Condo Report | XXXX | XXXX | XXXX | XXXX | 75.0 | 75.0 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |
| 10178762 |  |  | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 1004 URAR | XXXX | XXXX | XXXX | XXXX | 57.65 | 57.65 | XXXX | XXXX | .0000 | Collateral Underwriter (CU) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | XXXX |  |  |  |  |  |  |  |  |  |  |  | XXXX | 1 | XXXX |

---

## Exhibit 99.6

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.6 - Schedule 3**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Loan ID** | **Seller Loan ID** | **Investor Loan ID** | **Transaction ID** | **Field Name** | **Source** | **Verified Value** | **Bid Tape Value** | **Comment** |
| 10178840 |  |  | XXXX | XXXX | propertyValuationPage | XXXX | XXXX | XXXX |
| 10178840 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178840 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178876 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178876 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178824 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178824 |  |  | XXXX | XXXX | propertyValuationPage | XXXX | XXXX | XXXX |
| 10178824 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178824 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178788 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178788 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178820 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178865 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178865 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178784 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178784 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178742 |  |  | XXXX | XXXX | propertyValuationPage | XXXX | XXXX | XXXX |
| 10178742 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178742 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178742 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178849 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178822 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178822 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178822 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178853 |  |  | XXXX | XXXX | businessPurposeApprovalandGuidelinePage | XXXX | XXXX | XXXX |
| 10178853 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178853 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178853 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178805 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178770 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178831 |  |  | XXXX | XXXX | propertyValuationPage | XXXX | XXXX | XXXX |
| 10178831 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178831 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178831 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178779 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178777 |  |  | XXXX | XXXX | the1003Page | XXXX | XXXX | XXXX |
| 10178777 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178777 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178754 |  |  | XXXX | XXXX | propertyValuationPage | XXXX | XXXX | XXXX |
| 10178754 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178754 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178857 |  |  | XXXX | XXXX | propertyValuationPage | XXXX | XXXX | XXXX |
| 10178857 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178857 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178857 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178858 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178858 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178781 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178781 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178815 |  |  | XXXX | XXXX | propertyValuationPage | XXXX | XXXX | XXXX |
| 10178815 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178815 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178792 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178792 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178782 |  |  | XXXX | XXXX | businessPurposeApprovalandGuidelinePage | XXXX | XXXX | XXXX |
| 10178782 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178782 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178782 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178776 |  |  | XXXX | XXXX | propertyValuationPage | XXXX | XXXX | XXXX |
| 10178776 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178776 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178776 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178776 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178776 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178834 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178834 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178834 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178834 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178839 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178783 |  |  | XXXX | XXXX | creditLiabilitiesPage | XXXX | XXXX | XXXX |
| 10178783 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178783 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178783 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178790 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178790 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178790 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178743 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178866 |  |  | XXXX | XXXX | propertyValuationPage | XXXX | XXXX | XXXX |
| 10178866 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178866 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178866 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178769 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178769 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178769 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178863 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178863 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178837 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178837 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178837 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178772 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178772 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178760 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178760 |  |  | XXXX | XXXX | propertyValuationPage | XXXX | XXXX | XXXX |
| 10178760 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178760 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178760 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178760 |  |  | XXXX | XXXX | businessPurposeApprovalandGuidelinePage | XXXX | XXXX | XXXX |
| 10178802 |  |  | XXXX | XXXX | 1003OcrPage | XXXX | XXXX | XXXX |
| 10178802 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178802 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178802 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178802 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178802 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178797 |  |  | XXXX | XXXX | 1003OcrPage | XXXX | XXXX | XXXX |
| 10178797 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178797 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178797 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178797 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178786 |  |  | XXXX | XXXX | 1003OcrPage | XXXX | XXXX | XXXX |
| 10178786 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178753 |  |  | XXXX | XXXX | propertyValuationPage | XXXX | XXXX | XXXX |
| 10178753 |  |  | XXXX | XXXX | 1003OcrPage | XXXX | XXXX | XXXX |
| 10178753 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178753 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178753 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178753 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178753 |  |  | XXXX | XXXX | businessPurposeApprovalandGuidelinePage | XXXX | XXXX | XXXX |
| 10178877 |  |  | XXXX | XXXX | 1003OcrPage | XXXX | XXXX | XXXX |
| 10178877 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178877 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178877 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178804 |  |  | XXXX | XXXX | propertyValuationPage | XXXX | XXXX | XXXX |
| 10178804 |  |  | XXXX | XXXX | 1003OcrPage | XXXX | XXXX | XXXX |
| 10178804 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178804 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178804 |  |  | XXXX | XXXX | businessPurposeApprovalandGuidelinePage | XXXX | XXXX | XXXX |
| 10178804 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178793 |  |  | XXXX | XXXX | 1003OcrPage | XXXX | XXXX | XXXX |
| 10178793 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178793 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178793 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178793 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178793 |  |  | XXXX | XXXX | businessPurposeApprovalandGuidelinePage | XXXX | XXXX | XXXX |
| 10178841 |  |  | XXXX | XXXX | 1003OcrPage | XXXX | XXXX | XXXX |
| 10178841 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178841 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178841 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178775 |  |  | XXXX | XXXX | propertyValuationPage | XXXX | XXXX | XXXX |
| 10178775 |  |  | XXXX | XXXX | 1003OcrPage | XXXX | XXXX | XXXX |
| 10178775 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178775 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178775 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178775 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178800 |  |  | XXXX | XXXX | 1003OcrPage | XXXX | XXXX | XXXX |
| 10178800 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178800 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178800 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178800 |  |  | XXXX | XXXX | businessPurposeApprovalandGuidelinePage | XXXX | XXXX | XXXX |
| 10178795 |  |  | XXXX | XXXX | propertyValuationPage | XXXX | XXXX | XXXX |
| 10178795 |  |  | XXXX | XXXX | creditLiabilitiesPage | XXXX | XXXX | XXXX |
| 10178795 |  |  | XXXX | XXXX | 1003OcrPage | XXXX | XXXX | XXXX |
| 10178795 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178795 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178795 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178795 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178795 |  |  | XXXX | XXXX | businessPurposeApprovalandGuidelinePage | XXXX | XXXX | XXXX |
| 10178764 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178764 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178764 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178789 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178789 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178789 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178811 |  |  | XXXX | XXXX | 1003OcrPage | XXXX | XXXX | XXXX |
| 10178811 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178811 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178811 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178811 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178811 |  |  | XXXX | XXXX | businessPurposeApprovalandGuidelinePage | XXXX | XXXX | XXXX |
| 10178811 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178762 |  |  | XXXX | XXXX | 1003OcrPage | XXXX | XXXX | XXXX |
| 10178762 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178762 |  |  | XXXX | XXXX | notePage | XXXX | XXXX | XXXX |
| 10178762 |  |  | XXXX | XXXX | employmentIncomePage | XXXX | XXXX | XXXX |
| 10178762 |  |  | XXXX | XXXX | diligenceFinalLookPage | XXXX | XXXX | XXXX |
| 10178762 |  |  | XXXX | XXXX | businessPurposeApprovalandGuidelinePage | XXXX | XXXX | XXXX |

---

## Exhibit 99.6

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.6 - Schedule 4**

---

| | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Seller** | **Loan ID** | **Seller Loan ID** | **Investor Loan ID** | **Queue** | **Created Date** | **Last Modified Date** | **Finding Status** | **Event Level** | **Finding Category** | **Finding Sub Category** | **Finding Name** | **Reviewer Comments** | **Seller Comments** | **Finding Resolution** | **Finding Document** | **Reviewer Comp Factors** | **Originator Comp Factors** | **State** | **Occupancy** | **Loan Purpose** | **Refinance Purpose** | **Unique Finding ID** | **Acknowledged / Waived By** | **Waiver in File?** |
| XXXX | 10178840 |  |  | Closed | 2025-11-24 00:38 | 2025-12-24 07:07 | Resolved | 1 - Information C A | Credit | Title | Title Coverage is Less than Subject Lien(s) Total | Resolved-Title Coverage Amount of $XXXXXX is equal to or greater than Total Amount of Subject Lien(s) - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Re-uploaded title's email - Seller-XX/XX/XXXX <br>Counter-Unable to open the attachment. Please re-upload/re-send document. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Email from title confirming the loan title policy covers $XXX,XXX - Seller-XX/XX/XXXX <br>Open-Title Coverage Amount of $XXXXXX is Less than Loan Amount Please provide updated title document as the one on file has policy amount as $XXX,XXX which is not covering the full loan amount of $XXX,XXX. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Re-uploaded title's email - Seller-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Email from title confirming the loan title policy covers $XXX,XXX - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXXXXXXX XXXXXX XX $XXXXXX XX XXXXX XX XX XXXXXXX XXXX XXXXX XXXXXX XX XXXXXXX XXXX(X) - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXX XXXXX.XXX_XXXXX_<br> XXXXXXX XXXXX XXXX XXXXX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 6357875 | N/A | N/A |
| XXXX | 10178840 |  |  | Closed | 2025-11-25 21:54 | 2025-12-12 14:34 | Resolved | 1 - Information C A | Compliance | Data | The Initial 1003 is Incomplete | Resolved-received page of XXXX with LO signature - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. LO signature - Seller-XX/XX/XXXX <br>Open-LO sign is missing both initial & final XXXX. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. LO signature - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXX XXXX XX XXXX XXXX XX XXXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXX (XXX).XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 6393644 | N/A | N/A |
| XXXX | 10178840 |  |  | Closed | 2025-11-24 03:37 | 2025-12-09 00:18 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-Updated Fraud Report with cleared alerts uploaded, Verified & entered in system - Resolved<br> - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the XX XX.XX.XXXX page # XX a clear fraud report is required. The fraud report in file (page # XXX) is showing X high uncleared alert. The required cleared report is missing.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXX XXXXXX XXXX XXXXXXX XXXXXX XXXXXXXX, XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 6358648 | N/A | N/A |
| XXXX | 10178840 |  |  | Closed | 2025-11-25 22:55 | 2025-12-04 08:34 | Resolved | 1 - Information D A | Compliance | Missing Doc | Final HUD-1 or Final Settlement Statement Document is Missing | Resolved-Final HUD-X Document has been received - resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Final HUD - Seller-XX/XX/XXXX <br>Open-Final HUD-X Document is Missing. Please provide updated HUDX as the one in file does not show prior first lien being paid off. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Final HUD - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXX-X XXXXXXXX XXX XXXX XXXXXXXX - XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 6394717 | N/A | N/A |
| XXXX | 10178876 |  |  | Closed | 2025-12-12 02:26 | 2025-12-17 17:31 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Cleared Alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the XX XX.XX.XXXX page # XX a clear fraud report is required. The fraud report in file (page # XXX) is showing X low uncleared alert. The required cleared report is missing.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Cleared Alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6597483 | N/A | N/A |
| XXXX | 10178824 |  |  | Closed | 2025-12-15 01:34 | 2025-12-18 17:31 | Resolved | 1 - Information D A | Credit | Missing Doc | Missing letter of explanation | Resolved-Is spouse on dot received DOT in finding as well. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Deed of Trust - other person is a non-borrowing spouse - Seller-XX/XX/XXXX <br>Open-Provide Letter of explanation for the other name reflecting on statement XXXXXX #XXXX page XX. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Deed of Trust - other person is a non-borrowing spouse - Seller-XX/XX/XXXX<br>| XXXXXXXX-XX XXXXXX XX XXX XXXXXXXX XXX XX XXXXXXX XX XXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXX XX XXXXX_XXXXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6618234 | N/A | N/A |
| XXXX | 10178824 |  |  | Closed | 2025-12-12 02:36 | 2025-12-18 17:30 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the XX XX.XX.XXXX page # XX a clear fraud report is required. The fraud report in file (page # XXX) is showing uncleared alert, provide updated fraud report.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6597522 | N/A | N/A |
| XXXX | 10178824 |  |  | Closed | 2025-12-11 23:58 | 2025-12-16 04:10 | Resolved | 1 - Information D A | Compliance | Missing Doc | The Deed of Trust is Missing | Resolved-Deed of Trust document uploaded, Verified & entered in system - Resolved<br> - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-The Deed of Trust is Present - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Deed of Trust with Riders - Seller-XX/XX/XXXX <br>Open-The Deed of Trust is Missing Provide Deed of Trust and Riders(if any) documents as it is missing in the file - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Deed of Trust with Riders - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXX XX XXXXX XXXXXXXX XXXXXXXX, XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXX XX XXXXX XX XXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXX_XXXX XX XXXXX_XXXXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6596961 | N/A | N/A |
| XXXX | 10178788 |  |  | Closed | 2025-12-18 03:15 | 2025-12-19 02:11 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-Updated fraud report provided. Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the XX XX-X-XX page # XX a clear fraud report is required. The Fraud report in file (page #XXX) is showing high X uncleared alert. The required cleared Fraud report is missing. <br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXX XXXXXX XXXXXXXX. XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 6679021 | N/A | N/A |
| XXXX | 10178820 |  |  | Closed | 2025-12-19 12:03 | 2026-01-05 08:43 | Resolved | 1 - Information C A | Credit | Credit | DSCR unknown | Resolved-proof of security and Xst month rent received - resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. proof of security deposit and Xst month rent deposited - Seller-XX/XX/XXXX <br>Counter-unable to locate X months proof of rent received in the amount of $X,XXX each - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Seller Certificate - Seller-XX/XX/XXXX <br>Open-Market rent on DSCR calculator X,XXX.XX is not the market rent on the XXXX X,XXX - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. proof of security deposit and Xst month rent deposited - Seller-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Seller Certificate - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XX XXXXXXXX XXX XXX XXXXX XXXX XXXXXXXX - XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXX_XXXXXX XXXX.XXX_XXXXX_<br> XXXXX XX XXXXX XXXXXXXXX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 6710801 | N/A | N/A |
| XXXX | 10178820 |  |  | Closed | 2025-12-18 21:06 | 2025-12-23 22:39 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-Provided Fraud shows All Fraud Report Alerts have been cleared or None Exist. - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the guideline Version XX/XX/XXXX on page#XX a clear fraud report is required. The fraud report in file pg#XXX is showing a High alert. The required cleared report is missing.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXX XXXXX XXXXX XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 6698867 | N/A | N/A |
| XXXX | 10178820 |  |  | Closed | 2025-12-18 09:38 | 2025-12-22 05:42 | Resolved | 1 - Information C A | Credit | Title | Title Coverage is Less than Subject Lien(s) Total | Resolved-Updated title commitment uploaded, Title Coverage Amount of $XXXXXX is greater than Total Amount of Subject Lien - Resolved. - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Title Coverage Amount of $XXXXXX is equal to or greater than Total Amount of Subject Lien(s) - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Prelim for loan amount coverage - Seller-XX/XX/XXXX <br>Open-Title Coverage Amount of $XXXXXX is Less than Loan Amount Provide updated Title document as the one in file shows coverage amount as $XXX,XXX which is less than the loan amount of $XXX,XXX. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Prelim for loan amount coverage - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXX XXXXXXXXXX XXXXXXXX, XXXXX XXXXXXXX XXXXXX XX $XXXXXX XX XXXXXXX XXXX XXXXX XXXXXX XX XXXXXXX XXXX - XXXXXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXX XXXXXXXX XXXXXX XX $XXXXXX XX XXXXX XX XX XXXXXXX XXXX XXXXX XXXXXX XX XXXXXXX XXXX(X) - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXX XXXXXX XXX XX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 6686038 | N/A | N/A |
| XXXX | 10178865 |  |  | Closed | 2025-12-18 00:54 | 2025-12-26 07:29 | Resolved | 1 - Information D A | Credit | Missing Doc | Guaranty Agreement Doc Locator is Missing or Partial | Resolved-Validation Resolved' - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Guaranty Agreement - Seller-XX/XX/XXXX <br>Open-Guaranty Agreement Doc is Missing or Partial Provide Guaranty document. Guaranty document missing in file. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Guaranty Agreement - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXXXX XXXXXXXX' - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXXX XXXXXXXX XXXXXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6678425 | N/A | N/A |
| XXXX | 10178865 |  |  | Closed | 2025-12-18 00:36 | 2025-12-26 07:28 | Resolved | 1 - Information C A | Credit | Eligibility | Audited Reserves are less than Guideline Required Reserves (Number of Months) | Resolved-Audited Reserves of XX.XX month(s) are greater than or equal to Guideline Required Reserves of X month(s) - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Seller Certificate - Seller-XX/XX/XXXX <br>Counter-WE have this account in file already. What is missing is the secured borrowed funds. IF gift funds will need the gift letters and wires for these. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Final Funds - Seller-XX/XX/XXXX <br>Open-Provide additional assets to qualify required reserves, available assets $XX,XXX.XX are shortage -$X,XXX.XX for reserves. Secured funds in amount of XX,XXX.XX missing from the file - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Seller Certificate - Seller-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Final Funds - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXXXXX XX XX.XX XXXXX(X) XXX XXXXXXX XXXX XX XXXXX XX XXXXXXXXX XXXXXXXX XXXXXXXX XX X XXXXX(X) - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XXXXX.XXX_XXXXX_<br> XXXXXXXX_XXXXXX XXXXXXXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6678328 | N/A | N/A |
| XXXX | 10178865 |  |  | Closed | 2025-12-18 00:05 | 2025-12-19 02:36 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-Updated fraud report provided. Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Fraud report reflecting uncleared alerts, per XXXX XXXXXXX XXXXXXXXXX dated XX/XX/XXXX page XX, required updated fraud report. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXX XXXXXX XXXXXXXX. XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6678157 | N/A | N/A |
| XXXX | 10178784 |  |  | Closed | 2025-12-18 01:45 | 2025-12-19 06:45 | Waived | 2 - Non-Material C B | Credit | Eligibility | Audited LTV Exceeds Guideline LTV | Waived-X% LTV Exception to XX% - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Exception Approval attached - Seller-XX/XX/XXXX <br>Open-Audited LTV Exceeds Guideline LTV Per GL XX.XX.XXXX matrix, the maximum LTV for rate-and-term transactions with FICO scores between XXX and XXX is XX%. However, the current loan reflects a FICO score of XXX and an LTV of XX%, which exceeds the guideline maximum of XX%. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Exception Approval attached - Seller-XX/XX/XXXX<br>| XXXXXX-X% XXX XXXXXXXXX XX XX% - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXXXX XXXXXXXX.XXX |  | XXX.XX XXXXXX XX XXXXXXXX XXXXXXX XXX XXXXXXX XXXXXXXX XX X XXXXX XXXXXXXXX XXXXXXX, XXXX XXXXXXXX XXXXXXX XXX XX XXXXXX. | XX | Investment | Refinance | Cash Out - Other | 6678604 | Originator Post-Close | Yes |
| XXXX | 10178784 |  |  | Closed | 2025-12-18 00:28 | 2025-12-19 02:14 | Resolved | 1 - Information D A | Property | Missing Doc | Second Appraisal/ Valuation is Missing | Resolved-XXXXXXX SSR provided. Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. XXXXXXX SSR - Seller-XX/XX/XXXX <br>Open-Secondary Valuation or Additional Valuation (with acceptable variance to Primary) is missing per guideline requirements and CU Score, if present, is greater than X.X The file is missing secondary valuation or additional valuation. Provide a XXXXX or XXXXXX UCDP/SSR report with a score less than X.X, or an appraisal desk review.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. XXXXXXX SSR - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXX XXXXXXXX. XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXXX XXXXXXX XXX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 6678289 | N/A | N/A |
| XXXX | 10178784 |  |  | Closed | 2025-12-17 23:49 | 2026-04-16 14:16 | Acknowledged | 2 - Non-Material D B | Credit | Credit | Spousal Consent Missing | Acknowledged-Finding acknowledged with B grade. Compensating factors added. - Due Diligence Vendor-XX/XX/XXXX <br>Acknowledged-updated - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Escalate to XXXXXXXX/XXXX to Acknowledge & Clear - Seller-XX/XX/XXXX <br>Open-In XX, XX, XX, XX, XX, XX, XX, when a personal guaranty is present, then evidence of spousal consent is also required. Provide spousal consent document as it is not in file. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Escalate to XXXXXXXX/XXXX to Acknowledge & Clear - Seller-XX/XX/XXXX<br>| XXXXXXXXXXXX-XXXXXXX XXXXXXXXXXXX XXXX X XXXXX. XXXXXXXXXXXX XXXXXXX XXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXXXXXX-XXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ |  |  | XXX.XX XXXXXX XX XXXXXXXX XXXXXXX XXX XXXXXXX XXXXXXXX XX X XXXXX XXXXXXXXX XXXXXXX, <br> XXXX XXXXXXXX XXXXXXX XXX XX XXXXXX. | XX | Investment | Refinance | Cash Out - Other | 6678016 | Originator Pre-Close | No |
| XXXX | 10178742 |  |  | Closed | 2025-12-18 03:51 | 2026-01-22 06:48 | Resolved | 1 - Information C A | Credit | Credit | DSCR Does Not Meet Guideline Requirements | Resolved-Received updated tax cert. DSCR now meets GL - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Updated Tax document with DSCR calc and XXXX/XXXX - Seller-XX/XX/XXXX <br>Counter-Evidence of taxes belong to an owner other than the Borrower, please provide proof of taxes in owner's name or will have to qualify using general tax cert. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Updated Taxes with evidence attached. - Seller-XX/XX/XXXX <br>Open-Our calculated DSCR Rents of $X,XXX/ PITIA of $X,XXX.XX = X.XXX and Tape data showing X.XX difference is due to the tax amount our calculated tax amount as per Tax document page XXX is $XXXX.XX/XX=$XXX.XX matching with first payment letter page XXX whereas per XXXX page XXX and DSCR worksheet page XXX tax amount is $XXX.XX<br> The rent schedule appears on page XX. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Updated Tax document with DSCR calc and XXXX/XXXX - Seller-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Updated Taxes with evidence attached. - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXX XXXXXXX XXX XXXX. XXXX XXX XXXXX XX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XXXX.XXX_XXXXX_<br> XXXXX XXXX.XXX_XXXXX_<br> XXXXX XXXXXXXX XXX XXXXXXXXXXX.XXX_XXXXX_<br> XXXX.XXX_XXXXX_<br> XXX XXXX.XXX_XXXXX_<br> XXXX.XXXX.XXX |  |  | XX | Investment | Purchase | NA | 6679263 | N/A | N/A |
| XXXX | 10178742 |  |  | Closed | 2025-12-18 03:34 | 2025-12-29 07:38 | Resolved | 1 - Information C A | Credit | Eligibility | Audited Reserves are less than Guideline Required Reserves (Number of Months) | Resolved-Final SS to support XXXX exchange provided - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Final SS to go with XXXX - Seller-XX/XX/XXXX <br>Counter-Docs provided does not provide amount for the exchange - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Asset – XXXX Exchange - Seller-XX/XX/XXXX <br>Open-Audited Reserves of month(s) are less than Guideline Required Reserves of X month(s) Audited Reserve is less than required guideline reserve of X, Provide proof of secured borrowed funds of $XXX,XXX reflecting as per final XXXX page XXX. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Final SS to go with XXXX - Seller-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Asset – XXXX Exchange - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XX XX XXXXXXX XXXX XXXXXXXX XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXX XXXXXXXX XXXX.XXX_XXXXX_<br> XXXXX XXXXX XX XXX XXXX XXXX XXX XXXX XXXXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6679138 | N/A | N/A |
| XXXX | 10178742 |  |  | Closed | 2025-12-19 08:27 | 2025-12-29 07:29 | Resolved | 1 - Information D A | Compliance | Missing Doc | Final HUD-1 or Final Settlement Statement Document is Missing | Resolved- - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. This is a dry funding state, borrowers do not need to sign the same day the docs are dated. Borrowers signed at the table on XX/XX. - Seller-XX/XX/XXXX <br>Open-Final HUD-X Document is Missing. Hud in file is not executed One in file shows close date of XX/XX and addendum in file shows borrower signed off on XX/XX - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. This is a dry funding state, borrowers do not need to sign the same day the docs are dated. Borrowers signed at the table on XX/XX. - Seller-XX/XX/XXXX<br>| _XXXXX_ | XXXXX XXXXXXXXXXXXXXXX.XXX |  | XX XX X XXX XXXXXXX XXXXX. XXXXXXXXX XXXXXXXX | XX | Investment | Purchase | NA | 6704513 | N/A | N/A |
| XXXX | 10178849 |  |  | Closed | 2025-12-18 01:13 | 2026-01-21 09:19 | Resolved | 1 - Information C A | Credit | Eligibility | Audited Reserves are less than Guideline Required Reserves (Number of Months) | Resolved-Audited Reserves of XXX.XX month(s) are greater than or equal to Guideline Required Reserves of X month(s) - Due Diligence Vendor-XX/XX/XXXX <br>Resolved- - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Sale of Property CD - Seller-XX/XX/XXXX <br>Counter-The final SS provided are not for our borrowers' or the XXX XXXXXX property. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. CD for Reserves – Assets - Seller-XX/XX/XXXX <br>Open-Audited Reserves of month(s) are less than Guideline Required Reserves of X month(s) Audited reserves are less than GL requirement of X months. Provide proof of secured borrowed funds of $XXX,XXX per the XXXX on page XXX and the XXXX on page XXX for refinance of XXX XXXXXX property. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Sale of Property CD - Seller-XX/XX/XXXX <br>Ready for Review-Document Uploaded. CD for Reserves – Assets - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXXXXX XX XXX.XX XXXXX(X) XXX XXXXXXX XXXX XX XXXXX XX XXXXXXXXX XXXXXXXX XXXXXXXX XX X XXXXX(X) - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XXXX XX XXXXXXXXXX.XXX_XXXXX_<br> XXXXX XXXX XX XXXXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6678479 | N/A | N/A |
| XXXX | 10178849 |  |  | Closed | 2025-12-18 10:25 | 2026-01-21 09:18 | Resolved | 1 - Information C A | Credit | Assets | Asset 1 Does Not Meet Guideline Requirements | Resolved-Settlement provided from both transactions indicating sufficient funds from sale and wire incoming from borrower. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Escrow confirmed all funds were transferred from the XXXXXX Refinance. Documents attached were also already sent to them. If this doesn't clear condition, please escalate to XXXXXXX - Seller-XX/XX/XXXX <br>Counter-Provide proof of funds wired into escrow to cover down payment, closing costs and reserves. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Per escrow all funds came from the Refi of the XXXXXX property also attached. - Seller-XX/XX/XXXX <br>Counter-Provide proof of funds wired or in escrow for subject transaction. - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Asset Record X Meets G/L Requirements - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Sale of Property CD - Due Diligence Vendor-XX/XX/XXXX <br>Counter-The final SS provided is not for our borrowers' or the XXX XXXXXX property. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. CD for Reserves – Assets - Seller-XX/XX/XXXX <br>Open-Asset Record X Does Not Meet G/L Requirements Provide net proceeds from the XXX XXXXXX refinance to evidence sufficient funds to close plus cover the reserves (X mo's) with proof funds wired into escrow for the subject transaction. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Escrow confirmed all funds were transferred from the XXXXXX Refinance. Documents attached were also already sent to them. If this doesn't clear condition, please escalate to XXXXXXX - Seller-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Per escrow all funds came from the Refi of the XXXXXX property also attached. - Seller-XX/XX/XXXX <br>Ready for Review-Document Uploaded. CD for Reserves – Assets - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXXXX XXXXXXXX XXXX XXXX XXXXXXXXXXXX XXXXXXXXXX XXXXXXXXXX XXXXX XXXX XXXX XXX XXXX XXXXXXXX XXXX XXXXXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXX XXXXXX X XXXXX X/X XXXXXXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XXXX XX XXXXXXXXXX.XXX_XXXXX_<br> XXXXX XXXX XX XXXXXXXX.XXX_XXXXX_<br> XXXXX XXXXXXXXXXXXXXXXXXXXXXXX_X-X-XXXX_XX-XX.XXX_XXXXX_<br> XXXXX XXXX XX XXXXXX XXXXXXXX.XXX_XXXXX_<br> XXXXXXXXXXXXXXXXXXXXXXXX_X-X-XXXX_XX-XX.XXX_XXXXX_<br> XXXXXXXXXXXXXXXXXXXXXXXX_X-X-XXXX_XX-XX.XXX |  |  | XX | Investment | Purchase | NA | 6687138 | N/A | N/A |
| XXXX | 10178849 |  |  | Closed | 2025-12-18 01:02 | 2025-12-22 23:39 | Resolved | 1 - Information D A | Credit | Missing Doc | Flood Certificate Missing | Resolved-Flood Certificate uploaded, Verified & entered in system - Resolved<br> - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Flood Certificate is fully present - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Flood cert - Seller-XX/XX/XXXX <br>Open-Missing Flood Certificate Provide the Flood Determination as its missing from the file. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Flood cert - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXXXXXXXXXX XXXXXXXX, XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXX XXXXXXXXXXX XX XXXXX XXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XXXXX XXXX.XXX |  |  | XX | Investment | Purchase | NA | 6678450 | N/A | N/A |
| XXXX | 10178822 |  |  | Closed | 2025-12-18 02:37 | 2026-04-15 09:21 | Resolved | 1 - Information D A | Compliance | Missing Doc | Final HUD-1 or Final Settlement Statement Document is Missing | Resolved-Updated HUD shows pay off. Verified & Resolved.<br> - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Final HUD-X Document is Present or Not Applicable - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Final HUDX - stamped certified by title and showing payoff - Seller-XX/XX/XXXX <br>Open-Final HUD-X Document is Missing. Provide the executed final settlement statement with payoff of existing lien with the settlement agent signature. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Final HUDX - stamped certified by title and showing payoff - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXX XXXXX XXX XXX. XXXXXXXX & XXXXXXXX.<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXX XXX-X XXXXXXXX XX XXXXXXX XX XXX XXXXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXXXXXX XXXXX XX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 6678765 | N/A | N/A |
| XXXX | 10178822 |  |  | Closed | 2025-12-18 02:38 | 2026-04-15 08:56 | Resolved | 1 - Information D A | Credit | Missing Doc | The letter of explanation for the borrower's assets/reserves is missing | Resolved-LOE for spouse use of funds provided. - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Validation Resolved' - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. LOE attached - Seller-XX/XX/XXXX <br>Counter-The XX/XX/XXXX GL section X.X.X states that joint funds with non-borrowing spouse is considered XXX% of the borrower's funds, but states that an access letter must be provided showing the borrower has authorized access to all funds. Provide the letter stating the borrower has authorized access to all funds. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. The LOE confirms the other person is a non-borrowing spouse this makes funds XXX% the borrowers. If this was not a spouse then the letter would need to confirm access to all funds. - Seller-XX/XX/XXXX <br>Counter-Letter provided does not provide authorization for use of funds. Provide LOE for use of funds for XXX #XXXX & XXX #XXXX. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. LOE - Seller-XX/XX/XXXX <br>Open-The letter of explanation for the borrower's assets/reserves is missing. Please provide LOE or additional assets/reserves. Bank Statement for XXX #XXXX & XXX #XXXX of borrower and non-borrower. Provide LOE for use of funds.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. LOE attached - Seller-XX/XX/XXXX <br>Ready for Review-Document Uploaded. The LOE confirms the other person is a non-borrowing spouse this makes funds XXX% the borrowers. If this was not a spouse then the letter would need to confirm access to all funds. - Seller-XX/XX/XXXX <br>Ready for Review-Document Uploaded. LOE - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXX XXX XXXXXX XXX XX XXXXX XXXXXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXXXXXXX XXXXXXXX' - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXXXXXX XXX.XXX_XXXXX_<br> XXXXXXXXXXX XXXXXX XXXX.XXX_XXXXX_<br> XXX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 6678773 | N/A | N/A |
| XXXX | 10178822 |  |  | Closed | 2025-12-18 03:04 | 2025-12-23 03:38 | Resolved | 1 - Information D A | Credit | Missing Doc | Missing Verification of Rent | Resolved-Evidence of X-months receipt provided. Updated & resolved. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Proof of Rents - Seller-XX/XX/XXXX <br>Open-Missing Verification of Rent Loan qualified with lease amount of $X,XXX which is higher than the market rent amount of $X,XXX. GL X.X.X.X states if using the higher amount, evidence of X-months receipt of the $X,XXX is required. Provide two months receipt as evidence to support the requirement. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Proof of Rents - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXX XX X-XXXXXX XXXXXXX XXXXXXXX. XXXXXXX & XXXXXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXXXXXX XXXXXXXX XXX XXX XXX XXXXX XXXX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 6678931 | N/A | N/A |
| XXXX | 10178822 |  |  | Closed | 2025-12-18 01:57 | 2025-12-23 02:44 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-Provided Fraud shows All Fraud Report Alerts have been cleared or None Exist. - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts GL Version XX/XX/XXXX on page #XX requires a clear fraud report. The fraud report in file on page #XXX is showing a high alert. Provide the updated report.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXX XXXXX XXXXX XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXXXXXX XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 6678631 | N/A | N/A |
| XXXX | 10178853 |  |  | Closed | 2025-12-19 03:50 | 2025-12-23 00:24 | Resolved | 1 - Information C A | Credit | Eligibility | Ineligible Housing History per program guidelines | Resolved-Resident Ledger for primary property to verify housing history uploaded, Housing History Meets Guideline Requirements, Verified & entered in system - Resolved<br> - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Housing History Meets Guideline Requirements - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. VOR - Seller-XX/XX/XXXX <br>Open-Housing History Does Not Meet Guideline Requirements Unable to verify the current address "XXXX XXXXX XXXXX XX" rent proof for X months. Provide VOR to verify the X months housing history for current address "XXXX XXXXX XXXXX XX" - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. VOR - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXX XXXXXX XXX XXXXXXX XXXXXXXX XX XXXXXX XXXXXXX XXXXXXX XXXXXXXX, XXXXXXX XXXXXXX XXXXX XXXXXXXXX XXXXXXXXXXXX, XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXXXX XXXXXXX XXXXX XXXXXXXXX XXXXXXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XXX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 6700788 | N/A | N/A |
| XXXX | 10178853 |  |  | Closed | 2025-12-19 03:10 | 2025-12-22 01:50 | Resolved | 1 - Information C A | Credit | Title | Title Coverage is Less than Subject Lien(s) Total | Resolved-Final Title Policy uploaded, Title Coverage Amount of $XXXXXX is equal to or greater than Total Amount of Subject Lien(s), Verified - Resolved <br> - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Title Coverage Amount of $XXXXXX is equal to or greater than Total Amount of Subject Lien(s) - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Title Policy - Seller-XX/XX/XXXX <br>Open-Title Coverage Amount of $XXXXXX is Less than Loan Amount $XXXXXX - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Title Policy - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXXXX XXXXXX XXXXXXXX, XXXXX XXXXXXXX XXXXXX XX $XXXXXX XX XXXXX XX XX XXXXXXX XXXX XXXXX XXXXXX XX XXXXXXX XXXX(X), XXXXXXXX - XXXXXXXX <br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXX XXXXXXXX XXXXXX XX $XXXXXX XX XXXXX XX XX XXXXXXX XXXX XXXXX XXXXXX XX XXXXXXX XXXX(X) - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXX XXXX XXXXXX XXXX (XX).XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 6700549 | N/A | N/A |
| XXXX | 10178805 |  |  | Closed | 2025-12-22 22:26 | 2025-12-25 23:43 | Resolved | 1 - Information C A | Credit | Doc Issue | Missing asset documentation (ATR) | Resolved-Proof for EMD Funds of $XX,XXX uploaded, Verified & entered in system - Resolved<br> - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. EMD Receipt and EMD cleared - Seller-XX/XX/XXXX <br>Open-EMD deposit per the Final XXXX & Final HUD of $XX,XXX. Provide documentation of EMD deposited into escrow. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. EMD Receipt and EMD cleared - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXX XXX XXXXX XX $XX,XXX XXXXXXXX, XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXX XXXXXXX.XXX_XXXXX_<br> XXX XXXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6754633 | N/A | N/A |
| XXXX | 10178805 |  |  | Closed | 2025-12-22 21:37 | 2025-12-25 23:43 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-Updated Fraud Report with cleared alerts uploaded, Verified & entered in system - Resolved<br> - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the GL XX.XX.XXXX page #XX a clear fraud report is required. The fraud report in file (page #XXX) contains an uncleared alert. Provide an updated fraud report.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXX XXXXXX XXXX XXXXXXX XXXXXX XXXXXXXX, XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6754189 | N/A | N/A |
| XXXX | 10178805 |  |  | Closed | 2025-12-22 20:48 | 2025-12-23 14:15 | Resolved | 1 - Information D A | Property | Missing Doc | Second Appraisal/ Valuation is Missing | Resolved-Secondary Valuation or Additional Valuation is present or Not Required - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Freddie SSR - Seller-XX/XX/XXXX <br>Open-Secondary Valuation or Additional Valuation (with acceptable variance to Primary) is missing per guideline requirements and CU Score, if present, is greater than X.X Provide Secondary Valuation report to satisfy GL. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Freddie SSR - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXXX XXXXXXXXX XX XXXXXXXXXX XXXXXXXXX XX XXXXXXX XX XXX XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXX XXXXXXX XXX.XXX |  |  | XX | Investment | Purchase | NA | 6752566 | N/A | N/A |
| XXXX | 10178831 |  |  | Closed | 2025-12-22 00:43 | 2025-12-26 04:19 | Resolved | 1 - Information D A | Compliance | Missing Doc | The Initial 1003 is Missing | Resolved-Initial XXXX with LO signature provided. - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-The Initial XXXX is Present - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Initial XXXX with LO signature - Seller-XX/XX/XXXX <br>Open-The Initial XXXX is Missing Provide updated initial XXXX as the provided one on page XXX,XXX missing LO signature. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Initial XXXX with LO signature - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXX XXXX XX XXXXXXXXX XXXXXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXXXXX XXXX XX XXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 6728971 | N/A | N/A |
| XXXX | 10178831 |  |  | Closed | 2025-12-22 16:40 | 2025-12-26 02:23 | Resolved | 1 - Information D A | Compliance | Missing Doc | Final HUD-1 or Final Settlement Statement Document is Missing | Resolved-Final Refinance Statement reflecting payoff amount uploaded, Verified & entered in system - Resolved<br> - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Final HUD-X Document is Present or Not Applicable - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Final SS - Seller-XX/XX/XXXX <br>Open-Final HUD-X Document is Missing. Provide updated Final Hud document, as the provided one on page XXX not reflecting payoff amount, loan is no cash out refinance verified as per XXXX page XXX and DSCR worksheet page XXX and payoff statement is on page XXX,XXX,XXX. . - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Final SS - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXXXXXXXX XXXXXXXXX XXXXXXXXXX XXXXXX XXXXXX XXXXXXXX, XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXX XXX-X XXXXXXXX XX XXXXXXX XX XXX XXXXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 6749195 | N/A | N/A |
| XXXX | 10178777 |  |  | Closed | 2025-12-26 07:56 | 2026-01-05 09:13 | Resolved | 1 - Information C A | Credit | Eligibility | Audited Reserves are less than Guideline Required Reserves (Number of Months) | Resolved-Audited Reserves of XX.XX month(s) are greater than or equal to Guideline Required Reserves of X month(s) - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-received doc showing cash at close from heloc - resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. HELOC AGREEMENT AND FUNDS - HELOC was for $XXX,XXX. $XXX,XXX went straight to escrow at closing. The rest can be used towards reserves. - Seller-XX/XX/XXXX <br>Open-Audited Reserves of month(s) are less than Guideline Required Reserves of X month(s) Audited Reserves of month(s) are less than Guideline Required Reserves of X month(s) Provide additional Assets. We have verified $XX,XXX.XX; However, it does not meet the reserves requirement, Total Reserve Amount Shortage of $X,XXX.XX. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. HELOC AGREEMENT AND FUNDS - HELOC was for $XXX,XXX. $XXX,XXX went straight to escrow at closing. The rest can be used towards reserves. - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXXXXX XX XX.XX XXXXX(X) XXX XXXXXXX XXXX XX XXXXX XX XXXXXXXXX XXXXXXXX XXXXXXXX XX X XXXXX(X) - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXXXXX XXX XXXXXXX XXXX XX XXXXX XXXX XXXXX - XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XXXXXX XXXXXXXXX XXX XXXXXXXXXXX.XXX_XXXXX_<br> XXXXX XXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6810647 | N/A | N/A |
| XXXX | 10178777 |  |  | Closed | 2025-12-24 08:54 | 2025-12-30 23:44 | Resolved | 1 - Information D A | Property | Missing Doc | Second Appraisal/ Valuation is Missing | Resolved-Secondary Valuation or Additional Valuation (Freddie Mac) Provided. - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Secondary Valuation or Additional Valuation is present or Not Required - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. SSR - LCA score of X - Seller-XX/XX/XXXX <br>Open-Secondary Valuation or Additional Valuation (with acceptable variance to Primary) is missing per guideline requirements and CU Score, if present, is greater than X.X Per the Guideline version XX/XX/XXXX on page#XX, Secondary Valuation or Additional Valuation (with acceptable variance to Primary) is missing per guideline requirements and CU Score, if present, is greater than X.X • Secondary Valuation or Additional Valuation for securitization purposes is missing. File needs a FNMA or FHLMC UCDP/SSR report with a score less than X.X, or the file needs an Appraisal Desk Review.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. SSR - LCA score of X - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXXX XXXXXXXXX XX XXXXXXXXXX XXXXXXXXX (XXXXXXX XXX) XXXXXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXXXXXX XXXXXXXXX XX XXXXXXXXXX XXXXXXXXX XX XXXXXXX XX XXX XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXXX_XXXXXXX XXX.XXX |  |  | XX | Investment | Purchase | NA | 6788911 | N/A | N/A |
| XXXX | 10178754 |  |  | Closed | 2025-12-24 00:23 | 2026-01-13 05:49 | Resolved | 1 - Information D A | Compliance | Missing Doc | Final HUD-1 or Final Settlement Statement Document is Missing | Resolved-Final HUD-X Document is Present or Not Applicable - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Final ALTA Closing Statement - Seller-XX/XX/XXXX <br>Counter-Need doc that buyer closed with - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Buyer Did not close on a HUD - Seller-XX/XX/XXXX <br>Counter-Sellers settlement statement provided, please provide final HUD. - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Final HUD-X Document is Present or Not Applicable - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Final HUDX - Seller-XX/XX/XXXX <br>Open-Final HUD-X Document is Missing. Provide Final HUD-X Document. Final HUD-X document missing. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Final ALTA Closing Statement - Seller-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Buyer Did not close on a HUD - Seller-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Final HUDX - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXX-X XXXXXXXX XX XXXXXXX XX XXX XXXXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXX XXX-X XXXXXXXX XX XXXXXXX XX XXX XXXXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX_XXXX.XXX_XXXXX_<br> XX XXXXXXX XXXXX XXXXXXXXXX- XXXX XXXXXXX XXXXXX XXXXXXXXX.XXX_XXXXX_<br> XXXXX XXXXXXX XXXXXXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6783163 | N/A | N/A |
| XXXX | 10178754 |  |  | Closed | 2025-12-24 19:05 | 2025-12-29 00:06 | Resolved | 1 - Information B A | Compliance | Missing Doc | Missing Initial Escrow Disclosure | Resolved-Initial Escrow Acct Disclosure uploaded, Verified & entered in system - Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. IEADS - Seller-XX/XX/XXXX <br>Open-Provide Initial escrow disclosure. Initial escrow disclosure missing in file. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. IEADS - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXXX XXXX XXXXXXXXXX XXXXXXXX, XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX_XXXXXXX XXXXXX XXXXXXX XXXXXXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6801305 | N/A | N/A |
| XXXX | 10178857 |  |  | Closed | 2025-12-22 22:02 | 2025-12-30 00:50 | Resolved | 1 - Information C A | Credit | Title | Title Coverage is Less than Subject Lien(s) Total | Resolved-Final Loan Policy uploaded uploaded, Title Coverage Amount of $XXXXXX is equal to or greater than Total Amount of Subject Lien(s), Verified & entered in system - Resolved<br> - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Title Coverage Amount of $XXXXXX is equal to or greater than Total Amount of Subject Lien(s) - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Lender's title policy - Seller-XX/XX/XXXX <br>Open-Title Coverage Amount of $XXXXXX is Less than Loan Amount $XXXXXX - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Lender's title policy - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXXX XXXXXX XXXXXXXX XXXXXXXX, XXXXX XXXXXXXX XXXXXX XX $XXXXXX XX XXXXX XX XX XXXXXXX XXXX XXXXX XXXXXX XX XXXXXXX XXXX(X), XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXX XXXXXXXX XXXXXX XX $XXXXXX XX XXXXX XX XX XXXXXXX XXXX XXXXX XXXXXX XX XXXXXXX XXXX(X) - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 6754510 | N/A | N/A |
| XXXX | 10178857 |  |  | Closed | 2025-12-22 22:41 | 2025-12-28 23:53 | Resolved | 1 - Information C A | Credit | Eligibility | Ineligible Housing History per program guidelines | Resolved-Primary property is owned Free & Clear, Verified - Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Housing History Meets Guideline Requirements - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Insurance - There is no mortgagee so the home is owned free and clear - Seller-XX/XX/XXXX <br>Open-Housing History Does Not Meet Guideline Requirements Unable to verify housing history for current address "XXXX XXX XXXXXXXXX XX". Provide VOM or free and clear LOX to verify the XX months housing history for current address "XXXX XXX XXXXXXXXX XX - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Insurance - There is no mortgagee so the home is owned free and clear - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXXXXX XX XXXXX XXXX & XXXXX, XXXXXXXX - XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXXXX XXXXXXX XXXXX XXXXXXXXX XXXXXXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXXXX - XXXX XXX XXXXX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 6754691 | N/A | N/A |
| XXXX | 10178858 |  |  | Closed | 2026-01-06 02:31 | 2026-04-16 14:37 | Acknowledged | 2 - Non-Material D B | Credit | Credit | Spousal Consent Missing | Acknowledged-Finding has been acknowledged. Compensating factors have been added. - Due Diligence Vendor-XX/XX/XXXX <br>Acknowledged- - Due Diligence Vendor-XX/XX/XXXX <br>Open-In XX, XX, XX, XX, XX, XX, XX, when a personal guaranty is present, then evidence of spousal consent is also required. As the Borrower's state is XX, as per guidelines provide evidence of spousal consent - Due Diligence Vendor-XX/XX/XXXX |  | XXXXXXXXXXXX-XXXXXXX XXX XXXX XXXXXXXXXXXX. XXXXXXXXXXXX XXXXXXX XXXX XXXX XXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ |  |  | XXXX XXXXX XXX (XXX XXXXXXXX) <br> XX XXXXXXX XXXX XXXXXXXX. | XX | Investment | Refinance | Cash Out - Other | 6929306 | Originator Pre-Close | No |
| XXXX | 10178781 |  |  | Closed | 2025-12-23 01:56 | 2025-12-25 23:37 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-Updated Fraud Report with cleared alerts uploaded, Verified & entered in system - Resolved<br> - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the XX XX-XX-XXXX page #X a clear fraud report is required. The Fraud report in file (page #XXX) identifies an uncleared alert. Provide an updated fraud report. <br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXX XXXXXX XXXX XXXXXXX XXXXXX XXXXXXXX, XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6755504 | N/A | N/A |
| XXXX | 10178781 |  |  | Closed | 2025-12-23 00:49 | 2025-12-24 01:25 | Resolved | 1 - Information D A | Property | Missing Doc | Second Appraisal/ Valuation is Missing | Resolved-Requested secondary valuation provided, updated & condition resolved. - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Secondary Valuation or Additional Valuation is present or Not Required - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Freddie SSR - Seller-XX/XX/XXXX <br>Open-Secondary Valuation or Additional Valuation (with acceptable variance to Primary) is missing per guideline requirements and CU Score, if present, is greater than X.X The file does not contain a secondary valuation or additional valuation. Provide a FNMA or FHLMC UCDP/SSR report with a score less than X.X, or an appraisal desk review.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Freddie SSR - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXXX XXXXXXXXX XXXXXXXXX XXXXXXXX, XXXXXXX & XXXXXXXXX XXXXXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXXXXXX XXXXXXXXX XX XXXXXXXXXX XXXXXXXXX XX XXXXXXX XX XXX XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXXX XXX.XXX |  |  | XX | Investment | Purchase | NA | 6755292 | N/A | N/A |
| XXXX | 10178792 |  |  | Closed | 2025-12-24 01:49 | 2025-12-30 00:15 | Resolved | 1 - Information C A | Credit | Doc Issue | Missing proof of hazard insurance | Resolved-Updated Final Settlement Statement uploaded which matches the Hazard Insurance monthly premium, Verified & entered in system - Resolved<br> - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Updated Statement showing correct Insurance amount - Seller-XX/XX/XXXX <br>Open-Hazard insurance per insurance doc, payment letter, XXXX, IEAD is $XXX.XX whereas per final HUDX it is $XXX.XX. Provide proof of hazard document validating this $XXX.XX amount. <br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Updated Statement showing correct Insurance amount - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXX XXXXXXXXXX XXXXXXXXX XXXXXXXX XXXXX XXXXXXX XXX XXXXXX XXXXXXXXX XXXXXXX XXXXXXX, XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XXXXX XX.XXX |  |  | XX | Investment | Purchase | NA | 6783734 | N/A | N/A |
| XXXX | 10178776 |  |  | Closed | 2025-12-26 13:14 | 2026-01-09 11:22 | Resolved | 1 - Information D A | Compliance | Missing Doc | Final HUD-1 or Final Settlement Statement Document is Missing | Resolved-Final HUD-X Document is Present or Not Applicable - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. FSS - Seller-XX/XX/XXXX <br>Open-Final HUD-X Document is Missing. missing the final executed hud one that is is the seller final. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. FSS - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXX-X XXXXXXXX XX XXXXXXX XX XXX XXXXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XXXXX XXXXXXXXXX XXXXXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6819028 | N/A | N/A |
| XXXX | 10178776 |  |  | Closed | 2025-12-25 08:54 | 2026-01-02 01:09 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-Updated fraud report provided. Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the guideline Version XX/XX/XXXX on page#XX a clear fraud report is required. The fraud report in file pg#XXX is showing a High alert. The required cleared report is missing.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXX XXXXXX XXXXXXXX. XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6803135 | N/A | N/A |
| XXXX | 10178839 |  |  | Closed | 2025-12-29 01:11 | 2026-01-08 12:00 | Resolved | 1 - Information C A | Credit | Eligibility | Audited Reserves are less than Guideline Required Reserves (Number of Months) | Resolved-Reserve requirement met. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Statement showing sufficient funds for reserves - Seller-XX/XX/XXXX <br>Open-Audited Reserves of month(s) are less than Guideline Required Reserves of X month(s) Audited Reserves of month(s) are less than Guideline Required Reserves of X month(s) Provide additional Assets. We have verified $XX,XXX.XX; However, it does not meet the reserves requirement, Total Reserve Amount Shortage of $-$X,XXX.XX. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Statement showing sufficient funds for reserves - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXXXXXXXX XXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXX XXXXXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6826476 | N/A | N/A |
| XXXX | 10178839 |  |  | Closed | 2025-12-29 03:02 | 2026-01-08 11:58 | Resolved | 1 - Information C A | Credit | Assets | Asset 3 Does Not Meet Guideline Requirements | Resolved-Asset Record X Meets G/L Requirements Or Not Applicable - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. XXXX Exchanges - Seller-XX/XX/XXXX <br>Open-Asset Record X Meets G/L Requirements Or Not Applicable Per guidelines page XX Proceeds from a XXXX Exchange cannot be used to meet reserve requirements.<br> Asper Final XXXX we have XXXX change funds of $XXXXXX.XX for the same we have deferred exchange agreement in Pg: XXX, ALTA shows XXXX Funds of $XXXXXX.XX used for closing - Provide proof of Wire Confirmation or escrow disbursement statement and signed final HUD. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. XXXX Exchanges - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXXXXX X XXXXX X/X XXXXXXXXXXXX XX XXX XXXXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXX XXXXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6826872 | N/A | N/A |
| XXXX | 10178839 |  |  | Closed | 2025-12-29 00:06 | 2026-01-07 00:22 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-Updated Fraud Report with cleared alerts uploaded, Verified & entered in system - Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the XX XX/XX/XXXX page # XX a clear fraud report is required. The fraud report in file (page # XXX) is showing uncleared alert, provide updated fraud report.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXX XXXXXX XXXX XXXXXXX XXXXXX XXXXXXXX, XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6826209 | N/A | N/A |
| XXXX | 10178783 |  |  | Closed | 2025-12-29 23:06 | 2026-01-05 23:04 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-Updated Fraud Report with cleared alerts uploaded, Verified & entered in system - Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Cleared Alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the GL XX.XX.XXXX page # XX a clear fraud report is required. The fraud report in file (page # XXX) is showing X high uncleared alert. The required cleared report is missing.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Cleared Alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXX XXXXXX XXXX XXXXXXX XXXXXX XXXXXXXX, XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 6846431 | N/A | N/A |
| XXXX | 10178790 |  |  | Closed | 2025-12-31 02:25 | 2026-01-09 00:00 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-Updated Fraud Report with cleared alerts uploaded, Verified & entered in system - Resolved<br> - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the GL XX.XX.XXXX page # XX a clear fraud report is required. The fraud report in file (page # XXX) is showing X high uncleared alert. The required clear fraud report is missing from file.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXX XXXXXX XXXX XXXXXXX XXXXXX XXXXXXXX, XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 6866661 | N/A | N/A |
| XXXX | 10178790 |  |  | Closed | 2025-12-31 03:22 | 2026-01-08 23:59 | Resolved | 1 - Information D A | Credit | Missing Doc | 1008 Document is Missing | Resolved-Updated XXXX Document uploaded with corrected loan amount, Verified & entered in system - Resolved<br> - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-The XXXX document is present in the loan file. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Updated XXXX - Seller-XX/XX/XXXX <br>Open-The XXXX document is missing from the loan file. Provide updated XXXX document with loan amount $XXX,XXX and HOI insurance premium amount of $XXX, as per Note document loan amount showing as XXX,XXX but XXXX document showing as $XXX,XXX and as per Final HUD-X document HOI premium of $XXX but XXXX is showing as XXX.XX - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Updated XXXX - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXX XXXXXXXX XXXXXXXX XXXX XXXXXXXXX XXXX XXXXXX, XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXX XXXXXXXX XX XXXXXXX XX XXX XXXX XXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 6867103 | N/A | N/A |
| XXXX | 10178790 |  |  | Closed | 2025-12-31 00:36 | 2026-01-07 01:03 | Resolved | 1 - Information C A | Credit | Title | Title Coverage is Less than Subject Lien(s) Total | Resolved-Final Title Policy uploaded, Title Coverage Amount of $XXXXXX is equal to or greater than Total Amount of Subject Lien(s), Verified - Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Title Coverage Amount of $XXXXXX is equal to or greater than Total Amount of Subject Lien(s) - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Final Title Policy with coverage amount of $XXX,XXX - Seller-XX/XX/XXXX <br>Open-Title Coverage Amount of $XXXXXX is Less than Loan Amount Provide updated Title document as the one in file shows coverage amount as $XXX,XXX which is less than the loan amount of $XXX,XXX <br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Final Title Policy with coverage amount of $XXX,XXX - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXXXX XXXXXX XXXXXXXX, XXXXX XXXXXXXX XXXXXX XX $XXXXXX XX XXXXX XX XX XXXXXXX XXXX XXXXX XXXXXX XX XXXXXXX XXXX(X), XXXXXXXX - XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXX XXXXXXXX XXXXXX XX $XXXXXX XX XXXXX XX XX XXXXXXX XXXX XXXXX XXXXXX XX XXXXXXX XXXX(X) - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 6866168 | N/A | N/A |
| XXXX | 10178743 |  |  | Closed | 2026-01-05 12:33 | 2026-01-09 06:44 | Resolved | 1 - Information D A | Compliance | Missing Doc | Escrow Waiver is Missing | Resolved-Escrows on final settlement statement present. no escrow waiver required. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Finall SS - Seller-XX/XX/XXXX <br>Open-No escrow on HUD provided, no waiver in file. please provide escrow waiver. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Finall SS - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XX XXXXX XXXXXXXXXX XXXXXXXXX XXXXXXX. XX XXXXXX XXXXXX XXXXXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 6919887 | N/A | N/A |
| XXXX | 10178743 |  |  | Closed | 2025-12-30 23:30 | 2026-01-09 06:18 | Resolved | 1 - Information D A | Compliance | Missing Doc | Final HUD-1 or Final Settlement Statement Document is Missing | Resolved-Final HUD-X Document is Present or Not Applicable - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-ALTA statement provided. Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Final SS - Seller-XX/XX/XXXX <br>Open-Final HUD-X Document is Missing. Provide Final HudX document as Taxes and Insurances are missing in the current file - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Final SS - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXX-X XXXXXXXX XX XXXXXXX XX XXX XXXXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXX XXXXXXXXX XXXXXXXX. XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 6865764 | N/A | N/A |
| XXXX | 10178866 |  |  | Closed | 2025-12-30 02:04 | 2026-01-09 06:19 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Updated Fraud Report with cleared alerts uploaded, Verified & entered in system - Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the GL XX.XX.XXXX page # XX a clear fraud report is required. The fraud report in file (page # XXX) is showing X high uncleared alert. The required cleared report is missing.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXXXX XXXXX XXXXXX XXXX XXXXXXX XXXXXX XXXXXXXX, XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6847362 | N/A | N/A |
| XXXX | 10178866 |  |  | Closed | 2025-12-30 00:15 | 2026-01-09 06:18 | Resolved | 1 - Information D A | Credit | Missing Doc | Citizenship Documentation Not Provided | Resolved-Borrower X Citizenship Documentation Provided or Not Required - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Patriot Act Disclosure - Seller-XX/XX/XXXX <br>Counter-License is not required but the patriot form is missing from the file. The patriot form that provides the information for the state issued and date of license expiration is missing from the file. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Seller Certificate - Seller-XX/XX/XXXX <br>Open-Borrower X Citizenship Documentation Is Missing BX - Citizenship document missing in file, Provide BX - Citizenship document - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Patriot Act Disclosure - Seller-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Seller Certificate - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXX X XXXXXXXXXXX XXXXXXXXXXXXX XXXXXXXX XX XXX XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX_XXXXXX XXXXXXXXXXX.XXX_XXXXX_<br> XXXXXXX XXX XXXXXXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 6846877 | N/A | N/A |
| XXXX | 10178769 |  |  | Closed | 2026-01-06 03:23 | 2026-01-09 03:05 | Resolved | 1 - Information D A | Compliance | Missing Doc | The Final 1003 is Missing | Resolved-Final XXXX provided. Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Final XXXX - Seller-XX/XX/XXXX <br>Open-The Final XXXX is Missing Provide Final XXXX. Final XXXX missing in file. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Final XXXX - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXXX XXXXXXXX. XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXX XXXXX XXXX.XXX |  |  | XX | Investment | Purchase | NA | 6929549 | N/A | N/A |
| XXXX | 10178772 |  |  | Closed | 2026-01-13 07:19 | 2026-02-03 04:41 | Resolved | 1 - Information D A | Compliance | Missing Doc | The Final 1003 is Missing | Resolved-Updated Final XXXX provided. Resolved<br> - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Updated XXXX - Seller-XX/XX/XXXX <br>Counter-Borrower signature date does not coincide with the date of closing. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Final XXXX - Seller-XX/XX/XXXX <br>Open-The Final XXXX is Missing Loan application (XXXX) not provided in file. Provide the Final XXXX. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Updated XXXX - Seller-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Final XXXX - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXX XXXX XXXXXXXX. XXXXXXXX<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX_XXXX.XXX_XXXXX_<br> XXXX.XXX |  |  | XX | Investment | Purchase | NA | 7059850 | N/A | N/A |
| XXXX | 10178772 |  |  | Closed | 2026-01-13 05:14 | 2026-01-16 04:38 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-All Fraud Report Alerts have been cleared, verified & entered in system - Resolved. - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the GL XX.XX.XXXX page #XX a clear fraud report is required. The fraud report in file (page #XXX) has an uncleared alert. Provide the updated fraud report.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX, XXXXXXXX & XXXXXXX XX XXXXXX - XXXXXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 7057175 | N/A | N/A |
| XXXX | 10178760 |  |  | Closed | 2026-01-15 23:44 | 2026-01-21 01:55 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-Requested alerts cleared fraud report provided, updated & condition resolved. - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the GL XX.XX.XXXX page # XX a clear fraud report is required. The fraud report in file (page # XXX) is showing X Medium uncleared alert. The required clear fraud report is missing from file.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXXX XXXXXX XXXXXXX XXXXX XXXXXX XXXXXXXX, XXXXXXX & XXXXXXXXX XXXXXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 7129968 | N/A | N/A |
| XXXX | 10178797 |  |  | Closed | 2026-01-20 03:38 | 2026-01-26 00:34 | Resolved | 1 - Information C A | Credit | Doc Issue | Missing asset documentation (ATR) | Resolved-Proof of wire for EMD is missing in file, provided same, changes made in system, Finding Resolved<br> - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. EMD attached showing wire came from borrowers acct - Seller-XX/XX/XXXX <br>Open-Provide statement or wired proof for the EMD of $XX,XXX. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. EMD attached showing wire came from borrowers acct - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XX XXXX XXX XXX XX XXXXXXX XX XXXX, XXXXXXXX XXXX, XXXXXXX XXXX XX XXXXXX, XXXXXXX XXXXXXXX<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XXX.XXX |  |  | XX | Investment | Purchase | NA | 7174514 | N/A | N/A |
| XXXX | 10178797 |  |  | Closed | 2026-01-20 03:45 | 2026-01-26 00:34 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-There are uncleared alerts In Fraud report, provided updated Fraud report changes made in system, Finding Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the GL XX.XX.XXXX page # XX a clear fraud report is required. The fraud report in file (page # XXX) is showing uncleared alert, provide updated fraud report<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXX XXXXXXXXX XXXXXX XX XXXXX XXXXXX, XXXXXXXX XXXXXXX XXXXX XXXXXX XXXXXXX XXXX XX XXXXXX, XXXXXXX XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 7174556 | N/A | N/A |
| XXXX | 10178786 |  |  | Closed | 2026-01-21 00:25 | 2026-01-30 02:36 | Resolved | 1 - Information C A | Credit | Doc Issue | HUD/Closing Statement not signed by Borrower or Title Agent | Resolved-pay off and Signatures missing in Settlement statement, provided updated Settlement statement, changes made in system, Finding Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Final SS - Seller-XX/XX/XXXX <br>Open-Settlement statement in file is missing the Payoff amount of $XXX,XXX.XX for PHH and borrower & settlement agent signatures are missing. Provide the final settlement statement with borrower & settlement agent signature and payoff amount. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Final SS - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXX XXX XXX XXXXXXXXXX XXXXXXX XX XXXXXXXXXX XXXXXXXXX, XXXXXXXX XXXXXXX XXXXXXXXXX XXXXXXXXX, XXXXXXX XXXX XX XXXXXX, XXXXXXX XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 7196393 | N/A | N/A |
| XXXX | 10178786 |  |  | Closed | 2026-01-20 23:06 | 2026-01-28 03:29 | Resolved | 1 - Information D A | Compliance | Missing Doc | The Note is Missing | Resolved-Note Addendum is missing in file, Provided the same, changes made in system, Finding Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-The Note is Present - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Prepayment Addendum to Note - Seller-XX/XX/XXXX <br>Open-The Note is Missing Prepayment addendum to note is missing from file. Provide Prepayment addendum to note. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Prepayment Addendum to Note - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXX XXXXXXXX XX XXXXXXX XX XXXX, XXXXXXXX XXX XXXX, XXXXXXX XXXX XX XXXXXX, XXXXXXX XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXX XX XXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX_XXX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 7195990 | N/A | N/A |
| XXXX | 10178786 |  |  | Closed | 2026-01-21 00:20 | 2026-01-28 03:29 | Resolved | 1 - Information D A | Compliance | Missing Doc | The Final 1003 is Missing | Resolved-Final XXXX is missing in file, Provided the same, changes made in system, Finding Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Final XXXX - Seller-XX/XX/XXXX <br>Open-The Final XXXX is Missing Final XXXX is missing. Provide final XXXX. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Final XXXX - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXXX XX XXXXXXX XX XXXX, XXXXXXXX XXX XXXX, XXXXXXX XXXX XX XXXXXX, XXXXXXX XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX_XXXX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 7196359 | N/A | N/A |
| XXXX | 10178753 |  |  | Closed | 2026-01-21 23:21 | 2026-01-28 22:14 | Resolved | 1 - Information C A | Credit | Title | Title Coverage is Less than Subject Lien(s) Total | Resolved-Requested updated title with updated coverage amount that covers loan amount provided, updated & condition resolved. - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Title Coverage Amount of $XXXXXX is equal to or greater than Total Amount of Subject Lien(s) - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Updated Title Commitment - Seller-XX/XX/XXXX <br>Open-Title Coverage Amount of $XXXXXX is Less than Loan Amount Provide an updated Title commitment document as the coverage amount of $ XXXXXX is less then the loan amount of $$XXX,XXX.XX - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Updated Title Commitment - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXXX XXXXXXX XXXXX XXXX XXXXXXX XXXXXXXX XXXXXX XXXX XXXXXX XXXX XXXXXX XXXXXXXX, XXXXXXX & XXXXXXXXX XXXXXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXX XXXXXXXX XXXXXX XX $XXXXXX XX XXXXX XX XX XXXXXXX XXXX XXXXX XXXXXX XX XXXXXXX XXXX(X) - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXXXXXX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 7235724 | N/A | N/A |
| XXXX | 10178753 |  |  | Closed | 2026-01-22 00:01 | 2026-01-28 02:34 | Resolved | 1 - Information D A | Property | Missing Doc | Second Appraisal/ Valuation is Missing | Resolved-Freddie SSR provided. Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Freddie SSR - LCA score of X.X - Seller-XX/XX/XXXX <br>Open-Secondary Valuation or Additional Valuation (with acceptable variance to Primary) is missing per guideline requirements and CU Score, if present, is greater than X.X The file is missing secondary valuation or additional valuation. Provide a FNMA or FHLMC UCDP/SSR report with a score less than X.X, or an appraisal desk review.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Freddie SSR - LCA score of X.X - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXX XXXXXXXX. XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXXX_XXXXXXX XXX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 7235979 | N/A | N/A |
| XXXX | 10178877 |  |  | Closed | 2026-01-27 10:31 | 2026-01-30 07:09 | Resolved | 1 - Information D A | Credit | Missing Doc | Missing VOM or VOR | Resolved-received confirmation X months housing on mtg and free and clear - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Housing History - Seller-XX/XX/XXXX <br>Open-VOR/VOM Doc Status should not be 'Missing'. unable to determine XX months housing history for primary residence. only X months on Credit report - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Housing History - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXX XXXXXXXXXXXX X XXXXXX XXXXXXX XX XXX XXX XXXX XXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXX XXXXXXX XXXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 7315327 | N/A | N/A |
| XXXX | 10178877 |  |  | Closed | 2026-01-26 01:59 | 2026-01-30 00:18 | Resolved | 1 - Information C A | Credit | Credit | DSCR Does Not Meet Guideline Requirements | Resolved-Updated DSCR worksheet provided. Resolved<br> - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. DSCR Calc - Seller-XX/XX/XXXX <br>Open- - Due Diligence Vendor-XX/XX/XXXX <br>Open-Correctly calculated DSCR Ratio is Rent amount$XXXX/PITIA $XXXX.XX = X.XXX DSCR and Originator Consider DSCR Ratio is Rent amount$XXXX/PITIA$XXXX.XX = X.XXX, Variance is X.XXX. due to Monthly Property Tax premium amount is $XXX.XX(Annual $XXXX.XX), Originator considered $XXX.XX (Monthly Property Tax premium amount $XXX.XX is verified from Tax and Insurance information sheet, Escrow Waiver, Lender loan information final documents) - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. DSCR Calc - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXX XXXXXXXXX XXXXXXXX. XXXXXXXX<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXX XXXX.XXX |  |  | XX | Investment | Purchase | NA | 7290127 | N/A | N/A |
| XXXX | 10178804 |  |  | Closed | 2026-01-23 05:24 | 2026-01-30 00:33 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-Updated fraud report provided. Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the GL XX.XX.XXXX page # XX a clear fraud report is required. The fraud report in file (page # XXX) is showing X low uncleared alert. The required cleared report is missing.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXX XXXXXX XXXXXXXX. XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 7265076 | N/A | N/A |
| XXXX | 10178804 |  |  | Closed | 2026-01-23 05:20 | 2026-01-29 12:09 | Resolved | 1 - Information C A | Credit | Assets | Asset 5 Does Not Meet Guideline Requirements | Resolved-Asset X Meets Guideline Requirements Or Not Applicable - Due Diligence Vendor-XX/XX/XXXX <br>Open-Asset X Does Not Meet Guideline Requirements Asset - X , Proof of Gift amount $XXXXX is missing in file. Provide the proof of Gift amount (Gift letter page # XXX) - Due Diligence Vendor-XX/XX/XXXX |  | XXXXXXXX-XXXXX X XXXXX XXXXXXXXX XXXXXXXXXXXX XX XXX XXXXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ |  |  |  | XX | Investment | Purchase | NA | 7264748 | N/A | N/A |
| XXXX | 10178804 |  |  | Closed | 2026-01-23 05:20 | 2026-01-29 12:09 | Resolved | 1 - Information D A | Credit | Missing Doc | The letter of explanation for the borrower's assets/reserves is missing | Resolved-Validation Resolved' - Due Diligence Vendor-XX/XX/XXXX <br>Open-The letter of explanation for the borrower's assets/reserves is missing. Please provide LOE or additional assets/reserves. Provide the letter of explanation showing the borrower has authorized access to all funds from account #XXXX (Joint Account page #XX) as per GL XX.XX.XXXX page #XX<br> - Due Diligence Vendor-XX/XX/XXXX |  | XXXXXXXX-XXXXXXXXXX XXXXXXXX' - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ |  |  |  | XX | Investment | Purchase | NA | 7264749 | N/A | N/A |
| XXXX | 10178841 |  |  | Closed | 2026-01-27 00:43 | 2026-01-30 09:59 | Resolved | 1 - Information A | Property | Missing Doc | Second Appraisal/ Valuation is Missing | Resolved-Secondary Valuation or Additional Valuation is present or Not Required - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-XXXXXX XXX provided. Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. XXXXXX XXX - Seller-XX/XX/XXXX <br>Open-Secondary Valuation or Additional Valuation (with acceptable variance to Primary) is missing per guideline requirements and CU Score, if present, is greater than X.X Provide updated second Appraisal report with CU scores as it is missing in the file - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. XXXXXX XXX - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXXX XXXXXXXXX XX XXXXXXXXXX XXXXXXXXX XX XXXXXXX XX XXX XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXXXX XXX XXXXXXXX. XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXXX XXX.XXX |  |  | XX | Investment | Purchase | NA | 7306818 | N/A | N/A |
| XXXX | 10178841 |  |  | Closed | 2026-01-27 00:57 | 2026-01-30 09:43 | Resolved | 1 - Information A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-Requested alerts cleared fraud report provided, updated & condition resolved. - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Cleared Alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the GL XX.XX.XXXX page # XX a clear fraud report is required. The fraud report in file (page # XXX) is showing X high uncleared alerts. The required clear fraud report is missing from file.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Cleared Alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXXX XXXXXX XXXXXXX XXXXX XXXXXX XXXXXXXX, XXXXXXX & XXXXXXXXX XXXXXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 7306891 | N/A | N/A |
| XXXX | 10178775 |  |  | Closed | 2026-01-27 04:57 | 2026-01-30 08:22 | Resolved | 1 - Information A | Credit | Missing Doc | 1008 Document is Missing | Resolved-Requested updated XXXX with HOA fee of $XX provided, updated & condition resolved. - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-The XXXX document is present in the loan file. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. XXXX - Seller-XX/XX/XXXX <br>Open-The XXXX document is missing from the loan file. Please provide the revised Form XXXX reflecting the accurate HOA fee. The appraisal indicates an HOA fee of $XX, while the current XXXX shows $XX - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. XXXX - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXXX XXXXXXX XXXX XXXX XXX XXX XX $XX XXXXXXXX, XXXXXXX & XXXXXXXXX XXXXXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXX XXXXXXXX XX XXXXXXX XX XXX XXXX XXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 7308106 | N/A | N/A |
| XXXX | 10178775 |  |  | Closed | 2026-01-27 04:51 | 2026-01-28 22:06 | Resolved | 1 - Information A | Credit | Missing Doc | Bank Statement Summary / Lender Worksheet Missing | Resolved-Requested DSCR calculation sheet with correct DSCR of X.XXX provided hence condition resolved. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. DSCR Calculator - Seller-XX/XX/XXXX <br>Open-DSCR Worksheet is missing in a file - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. DSCR Calculator - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXXX XXXX XXXXXXXXXXX XXXXX XXXX XXXXXXX XXXX XX X.XXX XXXXXXXX XXXXX XXXXXXXXX XXXXXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXX XXXX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 7308071 | N/A | N/A |
| XXXX | 10178795 |  |  | Closed | 2026-01-28 02:48 | 2026-01-30 09:33 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved- - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. cleared alerts - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the GL XX.XX.XXXX page # XX a clear fraud report is required. The fraud report in file (page # XXX) is showing X low uncleared alert. The required cleared report is missing.<br>- Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. cleared alerts - Seller-XX/XX/XXXX<br>| _XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 7324827 | N/A | N/A |
| XXXX | 10178764 |  |  | Closed | 2026-01-28 21:41 | 2026-02-04 07:47 | Resolved | 1 - Information D A | Credit | Missing Doc | Guaranty Agreement Doc Locator is Missing or Partial | Resolved-Validation Resolved' - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-Guaranty agreement provided. Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Guaranty Agreement - Seller-XX/XX/XXXX <br>Open-Guaranty Agreement Doc is Missing or Partial Provide guaranty agreement as it is missing from file. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Guaranty Agreement - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXXXX XXXXXXXX' - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXXXXXXX XXXXXXXXX XXXXXXXX. XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXX_XXXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 7343372 | N/A | N/A |
| XXXX | 10178764 |  |  | Closed | 2026-01-28 22:31 | 2026-02-04 07:44 | Resolved | 1 - Information D A | Compliance | Missing Doc | Escrow Waiver is Missing | Resolved- - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Escrow Waiver - Seller-XX/XX/XXXX <br>Counter-No document enclosed. Provide the document for review. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Escrow Waiver - Seller-XX/XX/XXXX <br>Open-Provide Escrow Waiver document as it is missing from file. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Escrow Waiver - Seller-XX/XX/XXXX <br>Ready for Review-Escrow Waiver - Seller-XX/XX/XXXX<br>| _XXXXX_ | XXXXXX_XXXXXX XXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 7343750 | N/A | N/A |
| XXXX | 10178764 |  |  | Closed | 2026-01-28 21:32 | 2026-02-03 04:46 | Resolved | 1 - Information D A | Compliance | Missing Doc | Prepayment Penalty Information Unavailable | Resolved-PPP Addendum to note provided. Resolved<br> - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-PPP Addendum to NOTE - Seller-XX/XX/XXXX <br>Open-Provide Prepayment penalty addendum to note document as it is missing from file. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-PPP Addendum to NOTE - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXX XXXXXXXX XX XXXX XXXXXXXX. XXXXXXXX<br> - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXX - XXXX XXXXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 7343194 | N/A | N/A |
| XXXX | 10178764 |  |  | Closed | 2026-01-28 21:32 | 2026-02-03 04:00 | Resolved | 1 - Information C A | Credit | Doc Issue | Prepayment Rider Missing | Resolved-Prepayment rider provided. Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Prepayment Free Rider - Seller-XX/XX/XXXX <br>Open-Provide Prepayment Rider document as it is missing from file. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Prepayment Free Rider - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXXXX XXXXX XXXXXXXX. XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXX_XXXXXXXX XXXXXXXXXX XXXXX.XXX |  |  | XX | Investment | Purchase | NA | 7343198 | N/A | N/A |
| XXXX | 10178764 |  |  | Closed | 2026-01-28 22:10 | 2026-02-03 03:57 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-Updated Fraud report provided. Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the GL XX.XX.XXXX page # XX a clear fraud report is required. The fraud report in file (page # XXX) is showing X high uncleared alert. The required cleared report is missing. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXX XXXXXX XXXXXXXX. XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Purchase | NA | 7343657 | N/A | N/A |
| XXXX | 10178789 |  |  | Closed | 2026-01-29 00:15 | 2026-02-03 05:49 | Resolved | 1 - Information D A | Compliance | Missing Doc | Final HUD-1 or Final Settlement Statement Document is Missing | Resolved-Final HUD-X Document is Present or Not Applicable - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. Final Disb Sch from escrow showing Xst paid off - Seller-XX/XX/XXXX <br>Open-Final HUD-X Document is Missing. Provide updated final HUDX as the one in file does not show prior first lien being paid off.<br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. Final Disb Sch from escrow showing Xst paid off - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXX-X XXXXXXXX XX XXXXXXX XX XXX XXXXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXX XX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 7344338 | N/A | N/A |
| XXXX | 10178789 |  |  | Closed | 2026-01-29 00:04 | 2026-02-03 04:07 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-Updated Fraud report provided. Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the GL XX.XX.XXXX page # XX a clear fraud report is required. The fraud report in file (page # XXX) is showing X high uncleared alert. The required cleared report is missing. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXX XXXXX XXXXXX XXXXXXXX. XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 7344298 | N/A | N/A |
| XXXX | 10178789 |  |  | Closed | 2026-01-29 00:23 | 2026-02-02 04:13 | Resolved | 1 - Information C A | Credit | Doc Issue | Initial Escrow Acct Disclosure missing; loan has escrows | Resolved-Requested IEAD document provided, updated & condition resolved. - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. IEADS - Seller-XX/XX/XXXX <br>Open-Provide Initial Escrow Account Disclosure (IEAD) doc as tax and insurances are being escrowed but IEAD doc is missing from file. - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. IEADS - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXXXXXX XXXX XXXXXXXX XXXXXXXX, XXXXXXX & XXXXXXXXX XXXXXXXX. - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXXX_XXXXXXX XXXXXX XXXXXXX XXXXXXXXXX.XXX |  |  | XX | Investment | Refinance | No Cash Out - Borrower Initiated | 7344369 | N/A | N/A |
| XXXX | 10178762 |  |  | Closed | 2026-01-30 05:23 | 2026-02-04 23:13 | Resolved | 1 - Information C A | Credit | Eligibility | Fraud Report Shows Uncleared Alerts | Resolved-There are Uncleared Alerts in fraud report, provided the same, changes made in system, Finding Resolved - Due Diligence Vendor-XX/XX/XXXX <br>Resolved-All Fraud Report Alerts have been cleared or None Exist - Due Diligence Vendor-XX/XX/XXXX <br>Ready for Review-Document Uploaded. cleared alerts - Seller-XX/XX/XXXX <br>Open-Fraud Report Shows Uncleared Alerts Per the GL XX-XX-XXXX page # XX a clear fraud report is required. The Fraud report in file (page #XXX) is showing high X uncleared alert. The required cleared Fraud report is missing. <br> - Due Diligence Vendor-XX/XX/XXXX | Ready for Review-Document Uploaded. cleared alerts - Seller-XX/XX/XXXX<br>| XXXXXXXX-XXXXX XXX XXXXXXXXX XXXXXX XX XXXXX XXXXXX, XXXXXXXX XXX XXXX, XXXXXXX XXXX XX XXXXXX, XXXXXXX XXXXXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX _XXXXX_<br> XXXXXXXX-XXX XXXXX XXXXXX XXXXXX XXXX XXXX XXXXXXX XX XXXX XXXXX - XXX XXXXXXXXX XXXXXX-XX/XX/XXXX_XXXXX_ | XXXXXXX XXXXXX.XXX |  |  | XX | Investment | Refinance | Cash Out - Other | 7369077 | N/A | N/A |

---

## Exhibit 99.6

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.6 - Schedule 5**

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| **Loan ID** | **Seller Loan ID** | **Investor Loan ID** | **Loan Program** | **Guideline Product Name** | **Originator Name** | **Originating Entity CDFI Flag** | **Guideline Name** | **Guideline Author** | **Guideline Date** | **Guideline Version** | **Application Date** | **TILA Status** | **TRID** | **GSE** | **Verified Safe Harbor Flag** | **Verified Safe Harbor Reference Document** | **QM Regulation Failures** | **ATR QM Total Points and Fees Audit** | **Loan Regulation Benchmark Date** | **Benchmark Rate** | **AUS Decision System** | **Rating Result** | **Property Inspection Waiver (PIW)** | **Calculated APR** | **HUD 1 Page 1 Credits Total** | **Verified Qualifying Rate** | **Originator Qualifying Rate** | **Qualifying P&I** | **Default Interest Rate Present** | **Default Interest Rate** | **Annual Property Tax** | **Monthly Property Tax** | **Annual Insurance Costs** | **Monthly Insurance Cost** | **Annual HOA Costs** | **Monthly HOA Costs** | **Monthly Other Costs** | **PITIA** | **Residual Income** | **HOA Questionnaire Flag** | **HOA Name** | **HOA Address State** | **HOA Fee Amount** | **HOA Next Due Date** | **HOA Payment Frequency** | **Originator DTI** | **TPR Verified DTI** | **QM DTI** | **Is Borrower Non Occupant** | **Is Co Borrower Non Occupant** | **Co Borrower 2 Asset Verification Level** | **Co Borrower 3 Asset Verification Level** | **Co Borrower 2 Income Verification Level** | **Co Borrower 3 Income Verification Level** | **Co Borrower 2 Employment Verification Level** | **Co Borrower 3 Employment Verification Level** | **Borrower Employment Indicator** | **Co Borrower Employment Indicator** | **Co Borrower 2 Employment Indicator** | **Co Borrower 3 Employment Indicator** | **Co Borrower 2 Length of Employment** | **Co Borrower 3 Length of Employment** | **Document Level** | **Borrower Years of W2s/1099** | **CoBorrower Years of W2s/1099** | **Borrower Months of Paystubs Verified** | **Co Borrower Months of Paystubs Verified** | **Borrower Employment Gap Letter** | **Borrower Months of Employment Gap** | **Co Borrower Employment Gap Letter** | **Co Borrower Months of Employment Gap** | **Borrower Years of Personal Tax Returns** | **Borrower Years of Business Tax Returns** | **CoBorrower Years of Personal Tax Returns** | **CoBorrower Years of Business Tax Returns** | **Years of 4506T** | **Years of Tax Transcripts** | **Co Borrower Award/Offer Letter** | **Asset Depletion Flag** | **Partial Asset Depletion Flag** | **Asset Depletion Months Amortized** | **Asset Utilization Flag (No DTI)** | **Borrower Bank Statements Flag** | **Borrower Bank Statement Summary/Lender Worksheet** | **Borrower Number of Personal Bank Statements** | **Borrower Number of Business Bank Statements** | **CoBorrower Bank Statements Flag** | **Co Borrower Bank Statement Summary/Lender Worksheet** | **CoBorrower Number of Personal Bank Statements** | **CoBorrower Number of Business Bank Statements** | **Percent of Income From Statements** | **CoBorrower Business Ownership %** | **Bespoke Eligible Assets** | **Borrower P&L Type** | **Borrower Number of Months P&L** | **Borrower P&L Prepared By** | **CoBorrower P&L Type** | **CoBorrower P&L Prepared By** | **CoBorrower Number of Months P&L** | **Borrower CPA Letter Flag** | **# of Months CPA verified income** | **CoBorrower CPA Letter Flag** | **CoBorrower # of Months CPA verified income** | **Borrower WVOE Flag** | **Borrower # of Months Employment Validated WVOE** | **Borrower # of Months Income Validated WVOE** | **Borrower WVOE Form Type** | **CoBorrower WVOE Flag** | **CoBorrower # of Months WVOE** | **CoBorrower # of Months Income Validated WVOE** | **CoBorrower WVOE Form Type** | **DSCR Flag** | **TPR DSCR** | **Originator DSCR** | **Expense Letter** | **Income Doc Detail** | **Tax Return Doc Details** | **Property Address** | **Property City** | **Property State** | **Property Zip** | **Property County** | **Original Credit Report Date** | **Borrower 1 Credit Report Date** | **Borrower 2 Credit Report Date** | **Borrower 3 Credit Report Date** | **Borrower 4 Credit Report Date** | **Qualifying Credit Score** | **Third Wage Earner Original FICO Equifax** | **Third Wage Earner Original FICO Experian** | **Third Wage Earner Original FICO Transunion** | **Fourth Wage Earner Original FICO Equifax** | **Fourth Wage Earner Original FICO Experian** | **Fourth Wage Earner Original FICO Transunion** | **Most Recent Co Borrower 2 FICO** | **Most Recent Co Borrower 3 FICO** | **Updated Credit Report Flag** | **Updated Credit Report Date** | **Updated FICO Method** | **Primary Wage Earner Updated FICO Equifax** | **Primary Wage Earner Updated FICO Experian** | **Primary Wage Earner Updated FICO Transunion** | **Secondary Wage Earner Updated FICO Equifax** | **Secondary Wage Earner Updated FICO Experian** | **Secondary Wage Earner Updated FICO Transunion** | **Third Wage Earner Updated FICO Equifax** | **Third Wage Earner Updated FICO Experian** | **Third Wage Earner Updated FICO Transunion** | **Fourth Wage Earner Updated FICO Equifax** | **Fourth Wage Earner Updated FICO Experian** | **Fourth Wage Earner Updated FICO Transunion** | **Updated Primary Borrower FICO** | **Updated Co Borrower FICO** | **Updated Co Borrower 2 FICO** | **Updated Co Borrower 3 FICO** | **Most Recent Bankruptcy Type** | **Most Recent Bankruptcy Filing Date** | **Most Recent Bankruptcy Discharge Date** | **Number of Bankruptcy Events** | **Months Bankruptcy 7 11** | **Months Bankruptcy 13** | **Most Recent Deed in Lieu Date** | **Number of Deed in Lieu Events** | **Months Deed in Lieu** | **Most Recent Short Sale Date** | **Number of Short Sale Events** | **Months Short Sale (or Pre FC)** | **Most Recent Foreclosure Date** | **Number of Foreclosure Events** | **Months Foreclosure** | **Prior Mortgage/Rent Lates 30d in 0-12m** | **Prior Mortgage/Rent Lates 60d in 0-12m** | **Prior Mortgage/Rent Lates 90d in 0-12m** | **Prior Mortgage/Rent Lates 120d+ in 0-12m** | **Prior Mortgage/Rent Lates 30d in 13-24m** | **Prior Mortgage/Rent Lates 60d in 13-24m** | **Prior Mortgage/Rent Lates 90d in 13-24m** | **Prior Mortgage/Rent Lates 120d+ in 13-24m** | **Prior Mortgage/Rent Late 30d in 24m** | **Prior Mortgage/Rent Late 60d in 24m** | **Prior Mortgage/Rent Late 90d in 24m** | **Has ACH** | **Is Equity Shared Loan** | **Subordinate Lien Type** | **Subordinate Lien Max Draw Amount (HELOC)** | **Subordinate Lien 2 Type** | **Subordinate Lien 2 Max Draw Amount (HELOC)** | **Subordinate Lien 3 Type** | **Subordinate Lien 3 Max Draw Amount (HELOC)** | **Is Shared Appreciation Mortgage** | **Borrower Originator Citizenship Designation** | **Borrower Verified Citizenship Designation** | **Borrower Individual Tax Identification Number (ITIN)?** | **Borrower Photo Identification Type** | **Borrower Photo Identification Other Type** | **Borrower Photo ID State of Issuance** | **Borrower Photo ID Country of Issuance** | **Borrower Photo ID Expiration Date** | **Borrower Passport Country of Origin** | **Borrower Passport Expiration Date** | **Borrower Non-US Citizen Identification Document** | **Borrower Date of Resident Since/Valid Date** | **Borrower Non-US Document Expiration Date** | **Co Borrower Originator Citizenship Designation** | **Co Borrower Verified Citizenship Designation** | **Co Borrower Individual Tax Identification Number (ITIN)?** | **Co Borrower Photo Identification Type** | **Co Borrower Photo Identification Other Type** | **Co Borrower Photo ID State of Issuance** | **Co Borrower Photo ID Country of Issuance** | **Co Borrower Photo ID Expiration Date** | **Co Borrower Passport Country of Origin** | **Co Borrower Passport Expiration Date** | **Co Borrower Non-US Citizen Identification Document** | **Co Borrower Date of Resident Since/Valid Date** | **Co Borrower Non-US Document Expiration Date** | **Co Borrower 2 Originator Citizenship Designation** | **Co Borrower 2 Verified Citizenship Designation** | **Co Borrower 2 Individual Tax Identification Number (ITIN)?** | **Co Borrower 2 Photo Identification Type** | **Co Borrower 2 Photo Identification Other Type** | **Co Borrower 2 Photo ID State of Issuance** | **Co Borrower 2 Photo ID Country of Issuance** | **Co Borrower 2 Photo ID Expiration Date** | **Co Borrower 2 Passport Country of Origin** | **Co Borrower 2 Passport Expiration Date** | **Co Borrower 2 Non-US Citizen Identification Document** | **Co Borrower 2 Date of Resident Since/Valid Date** | **Co Borrower 2 Non-US Document Expiration Date** | **Co Borrower 3 Originator Citizenship Designation** | **Co Borrower 3 Verified Citizenship Designation** | **Co Borrower 3 Individual Tax Identification Number (ITIN)?** | **Co Borrower 3 Photo Identification Type** | **Co Borrower 3 Photo Identification Other Type** | **Co Borrower 3 Photo ID State of Issuance** | **Co Borrower 3 Photo ID Country of Issuance** | **Co Borrower 3 Photo ID Expiration Date** | **Co Borrower 3 Passport Country of Origin** | **Co Borrower 3 Passport Expiration Date** | **Co Borrower 3 Non-US Citizen Identification Document** | **Co Borrower 3 Date of Resident Since/Valid Date** | **Co Borrower 3 Non-US Document Expiration Date** | **Property Rights** | **Leasehold Lease Expiration Date** | **Buydown Flag** | **Assumable Mortgage Flag** | **Foreign National Alternative Credit Documentation** | **Liquid / Cash Reserves (ASF)** | **Months Liquid Reserves** | **Total Assets Available for Reserves** | **Months Reserves** | **Blanket Mortgage Flag** | **Qualifying HCLTV** | **Condo Warrantability Flag** | **E-Note Flag** | **O&E in lieu of Title Insurance** | **Business Purpose Flag** | **Borrower Note Executed As** | **Co Borrower Note Executed As** | **Co Borrower 2 Note Executed As** | **Co Borrower 3 Note Executed As** | **Borrower 1 Trust Name** | **Borrower 2 Trust Name** | **Borrower 3 Trust Name** | **Borrower 4 Trust Name** |
| 10178840 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  | $7125.00 | 7.750% | 7.750% | $5104.44 | No |  | $14391.36 | $1199.28 | $3774.00 | $314.50 | $0.00 | $0.00 | $0.00 | $6618.22 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.209 | 1.25 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 731 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Other | USA Patriot Act Disclosure | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | .00 | 0 | 684274.79 | 103.4 | No | 75 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178876 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.750% | 7.750% | $1409.90 | No |  | $3981.72 | $331.81 | $1005.96 | $83.83 | $0.00 | $0.00 | $0.00 | $1825.54 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.013 | 1.013 |  | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 747 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Standard Driver's License - Not for federal use |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 9905.81 | 5.4 | 9905.81 | 5.4 | No | 80 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178824 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.375% | 7.375% | $1209.96 | No |  | $6500.04 | $541.67 | $780.96 | $65.08 | $300.00 | $25.00 | $0.00 | $1841.71 |  | N/A | XXXX | XXXX | $25.00 | XXXX | Annually | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.005 | 1.005 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 792 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 324922.09 | 176.4 | 324922.09 | 176.4 | No | 75 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178788 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.000% | 7.000% | $1047.85 | No |  | $1572.36 | $131.03 | $1872.00 | $156.00 | $0.00 | $0.00 | $0.00 | $1334.88 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.446 | 1.45 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 763 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | .00 | 0 | 149638.81 | 112.1 | No | 70 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178820 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.375% | 7.375% | $2253.33 | No |  | $1639.20 | $136.60 | $2025.96 | $168.83 | $0.00 | $0.00 | $0.00 | $2558.76 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.079 | 1.079 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 730 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | .00 | 0 | 86732.94 | 33.9 | No | 75 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178865 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.000% | 7.000% | $2352.51 | No |  | $1503.24 | $125.27 | $2200.32 | $183.36 | $0.00 | $0.00 | $0.00 | $2661.14 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.052 | 1.25 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 809 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 59360.87 | 22.3 | 59360.87 | 22.3 | No | 80 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178784 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  | $0.00 | 8.000% | 8.000% | $1429.33 | No |  | $3179.40 | $264.95 | $2089.68 | $174.14 | $0.00 | $0.00 | $0.00 | $1868.42 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.028 | 1.028 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 671 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 150004.54 | 80.3 | 345859.63 | 185.1 | No | 80 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178742 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  | $0.00 | 7.750% | 7.750% | $2299.17 | No |  | $1083.48 | $90.29 | $1649.04 | $137.42 | $0.00 | $0.00 | $0.00 | $2526.88 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes | Yes |  |  |  |  |  |  | Unknown | Unknown |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  | 0 | 0 | 0.00% |  |  |  | 0 |  |  |  | 0 |  | 0 | No | 0 |  | 0 | 0 |  |  | 0 | 0 |  | Yes | 1.069 | 1.03 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 756 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Standard Driver's License - Not for federal use |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | XXXX | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 95238.18 | 37.7 | 95238.18 | 37.7 | No | 80 | N/A | No | No | Yes | Borrower As Individual | Borrower As Individual | N/A | N/A |  |  |  |  |  |
| 10178849 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.500% | 7.500% | $2025.00 | No |  | $2192.28 | $182.69 | $1503.96 | $125.33 | $0.00 | $0.00 | $0.00 | $2333.02 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes | Yes |  |  |  |  |  |  | Unknown | Unknown |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  | 0 | 0 | 0.00% |  |  |  | 0 |  |  |  | 0 |  | 0 | No | 0 |  | 0 | 0 |  |  | 0 | 0 |  | Yes | 1.2 | 1.19 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 756 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Standard Driver's License - Not for federal use |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | XXXX | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 267774.28 | 114.8 | 267774.28 | 114.8 | No | 80 | N/A | No | No | Yes | Borrower As Individual | Borrower As Individual | N/A | N/A |  |  |  |  |  |
| 10178822 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.625% | 7.625% | $3018.23 | No |  | $4830.48 | $402.54 | $6044.16 | $503.68 | $0.00 | $0.00 | $0.00 | $3924.45 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.07 | 1.07 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 660 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 35539.34 | 9.1 | 35624.30 | 9.1 | No | 70.37 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178853 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.000% | 7.000% | $1164.28 | No |  | $998.76 | $83.23 | $529.92 | $44.16 | $0.00 | $0.00 | $0.00 | $1291.67 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.084 | 1.09 |  | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 684 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | .00 | 0 | 153771.19 | 119.1 | No | 63.64 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178805 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.000% | 7.000% | $2527.29 | No |  | $12426.00 | $1035.50 | $1618.92 | $134.91 | $0.00 | $0.00 | $0.00 | $3697.70 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  | 3 - Verified<2Mos | 4 - Verified 2+ Mos |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.001 | 1.001 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 746 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 514124.44 | 139 | 514124.44 | 139 | No | 70.45 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178770 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  | $2874.20 | 7.750% | 7.750% | $2063.27 | No |  | $7318.32 | $609.86 | $2412.36 | $201.03 | $0.00 | $0.00 | $0.00 | $2874.16 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.461 | 1.461 |  | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 776 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Standard Driver's License - Not for federal use |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 19674.92 | 6.9 | 19674.92 | 6.9 | No | 80 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178831 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.125% | 7.125% | $3016.25 | No |  | $4044.00 | $337.00 | $2081.04 | $173.42 | $672.00 | $56.00 | $0.00 | $3582.67 |  | N/A | XXXX | XXXX | $56.00 | XXXX | Annually | 0.00% | 0.00% | 0.00% | Yes | Yes |  |  |  |  |  |  | Unknown | Unknown |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  | 0 | 0 | 0.00% |  |  |  | 0 |  |  |  | 0 |  | 0 | No | 0 |  | 0 | 0 |  |  | 0 | 0 |  | Yes | 1.005 | 1.009 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 753 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Other | USA Patriot Act Driving License | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX | US Citizen | US Citizen | N/A | Other | USA Patriot Act Driving License | XXXX | XXXX | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 65349.56 | 18.2 | 65349.56 | 18.2 | No | 73.09 | N/A | No | No | Yes | Borrower As Individual | Borrower As Individual | N/A | N/A |  |  |  |  |  |
| 10178779 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  | $0.00 | 6.875% | 6.875% | $2118.60 | No |  | $3857.04 | $321.42 | $1702.56 | $141.88 | $0.00 | $0.00 | $0.00 | $2581.90 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  | Stocks/Bonds |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.162 | 1.162 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 698 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 328859.02 | 127.4 | 328859.02 | 127.4 | No | 75 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178777 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | Yes | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.125% | 7.125% | $2092.97 | No |  | $3806.40 | $317.20 | $1983.00 | $165.25 | $0.00 | $0.00 | $0.00 | $2575.42 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.107 | 1.107 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 745 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Enhanced Driver's License (MI, MN, NY, VT, WA) |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 39278.44 | 15.3 | 39278.44 | 15.3 | No | 75 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178754 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 8.000% | 8.000% | $1672.98 | No |  | $3057.24 | $254.77 | $1734.12 | $144.51 | $0.00 | $0.00 | $0.00 | $2072.26 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes | Yes |  |  |  |  |  |  | Unknown | Unknown |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  | 0 | 0 | 0.00% |  |  |  | 0 |  |  |  | 0 |  | 0 | No | 0 |  | 0 | 0 |  |  | 0 | 0 |  | Yes | 1.158 | 1.16 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 708 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | XXXX | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 220384.54 | 106.4 | 220384.54 | 106.4 | No | 80 | N/A | No | No | Yes | Borrower As Individual | Borrower As Individual | N/A | N/A |  |  |  |  |  |
| 10178857 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 6.875% | 6.875% | $2118.60 | No |  | $3857.04 | $321.42 | $1707.96 | $142.33 | $0.00 | $0.00 | $0.00 | $2582.35 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  | Stocks/Bonds |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.162 | 1.162 |  | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 698 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 377130.26 | 146 | 377130.26 | 146 | No | 75 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178858 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.250% | 7.250% | $895.36 | No |  | $962.04 | $80.17 | $2051.04 | $170.92 | $0.00 | $0.00 | $0.00 | $1146.45 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.221 | 1.221 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 800 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Standard Driver's License - Not for federal use |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | .00 | 0 | 12035.28 | 10.5 | No | 75 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178781 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.750% | 7.750% | $1085.00 | No |  | $5649.36 | $470.78 | $2220.48 | $185.04 | $0.00 | $0.00 | $0.00 | $1740.82 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  | Stocks/Bonds,Stocks/Bonds |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.005 | 1.005 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 748 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 39054.77 | 22.4 | 39054.77 | 22.4 | No | 80 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178815 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.125% | 7.125% | $2074.51 | No |  | $2388.12 | $199.01 | $1827.96 | $152.33 | $399.96 | $33.33 | $0.00 | $2459.18 |  | N/A | XXXX | XXXX | $33.33 | XXXX | Annually | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.078 | 1.078 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 752 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | Non Permanent Resident Alien | Non-Permanent Non-US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | Employment Authorization Card or Document | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 128990.15 | 52.5 | 128990.15 | 52.5 | No | 80 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178792 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  | $0.00 | 8.000% | 8.000% | $1761.03 | No |  | $3327.72 | $277.31 | $1809.96 | $150.83 | $0.00 | $0.00 | $0.00 | $2189.17 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes | Yes |  |  |  |  |  |  | Unknown | Unknown |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  | 0 | 0 | 0.00% |  |  |  | 0 |  |  |  | 0 |  | 0 | No | 0 |  | 0 | 0 |  |  | 0 | 0 |  | Yes | 1.211 | 1.204 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 708 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | XXXX | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 155186.05 | 70.9 | 155186.05 | 70.9 | No | 80 | N/A | No | No | Yes | Borrower As Individual | Borrower As Individual | N/A | N/A |  |  |  |  |  |
| 10178782 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.625% | 7.625% | $849.35 | No |  | $1204.08 | $100.34 | $1257.00 | $104.75 | $0.00 | $0.00 | $0.00 | $1054.44 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  | Proceeds from Sale |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.328 | 1.32 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 676 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 124419.66 | 118 | 124419.66 | 118 | No | 75 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178776 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 6.250% | 6.250% | $3386.44 | No |  | $13125.00 | $1093.75 | $2137.92 | $178.16 | $0.00 | $0.00 | $0.00 | $4658.35 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.288 | 1.288 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 801 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 340181.32 | 73 | 340181.32 | 73 | No | 52.38 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178834 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.500% | 7.500% | $1342.49 | No |  | $5372.76 | $447.73 | $2148.00 | $179.00 | $0.00 | $0.00 | $0.00 | $1969.22 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  | Stocks/Bonds |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.219 | 1.219 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 700 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 68176.39 | 34.6 | 68176.39 | 34.6 | No | 75 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178839 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.125% | 7.125% | $1636.19 | No |  | $3276.36 | $273.03 | $1463.04 | $121.92 | $0.00 | $0.00 | $0.00 | $2031.14 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes | Yes |  |  |  |  |  |  | Unknown | Unknown |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  | 0 | 0 | 0.00% |  |  |  | 0 |  |  |  | 0 |  | 0 | No | 0 |  | 0 | 0 |  |  | 0 | 0 |  | Yes | 1.477 | 1.477 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 804 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | XXXX | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 21521.34 | 10.6 | 21208.92 | 10.4 | No | 70.39 | N/A | No | No | Yes | Borrower As Individual | Borrower As Individual | N/A | N/A |  |  |  |  |  |
| 10178783 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.250% | 7.250% | $1258.62 | No |  | $1909.68 | $159.14 | $3026.04 | $252.17 | $0.00 | $0.00 | $0.00 | $1669.93 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes | Yes |  |  |  |  |  |  | Unknown | Unknown |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  | 0 | 0 | 0.00% |  |  |  | 0 |  |  |  | 0 |  | 0 | No | 0 |  | 0 | 0 |  |  | 0 | 0 |  | Yes | 1.078 | 1.078 |  | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 739 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | XXXX | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 7190.13 | 4.3 | 65484.72 | 39.2 | No | 75 | N/A | No | No | Yes | Member on Behalf of Entity | Member on Behalf of Entity | N/A | N/A |  |  |  |  |  |
| 10178790 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 6.875% | 6.875% | $2041.73 | No |  | $5927.16 | $493.93 | $1200.00 | $100.00 | $0.00 | $0.00 | $0.00 | $2635.66 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 0.827 | 0.788 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 724 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 147278.53 | 55.9 | 147278.53 | 55.9 | No | 70 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178743 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.125% | 7.125% | $1553.93 | No |  | $5516.04 | $459.67 | $793.44 | $66.12 | $0.00 | $0.00 | $0.00 | $2079.72 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.154 | 1.154 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 712 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | Non Permanent Resident Alien | Non-Permanent Non-US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | Employment Authorization Card or Document | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | .00 | 0 | 212700.18 | 102.3 | No | 70 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178866 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.875% | 7.875% | $1420.68 | No |  | $1232.28 | $102.69 | $2652.00 | $221.00 | $0.00 | $0.00 | $0.00 | $1744.37 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  | Stocks/Bonds |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.172 | 1.172 |  | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 665 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Other | USA Patriot Act Disclosure | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 46695.10 | 26.8 | 46695.10 | 26.8 | No | 75 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178769 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.625% | 7.625% | $849.35 | No |  | $7065.24 | $588.77 | $2330.40 | $194.20 | $0.00 | $0.00 | $0.00 | $1632.32 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.225 | 1.22 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 745 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 20488.33 | 12.6 | 20488.33 | 12.6 | No | 80 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178863 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  | $0.00 | 7.125% | 7.125% | $2560.13 | No |  | $2517.96 | $209.83 | $855.96 | $71.33 | $0.00 | $0.00 | $0.00 | $2841.29 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  | Stocks/Bonds |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.065 | 1.065 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 747 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 427028.24 | 150.3 | 427028.24 | 150.3 | No | 80 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178837 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 6.875% | 6.875% | $2277.34 | No |  | $2778.12 | $231.51 | $1713.96 | $142.83 | $0.00 | $0.00 | $0.00 | $2651.68 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.007 | 1.007 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 774 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Standard Driver's License - Not for federal use |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | .00 | 0 | 386207.05 | 145.7 | No | 75 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178772 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.500% | 7.500% | $1750.00 | No |  | $3155.64 | $262.97 | $995.04 | $82.92 | $0.00 | $0.00 | $0.00 | $2095.89 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% | 0.00% |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.002 | 1.002 | N/A | Borrower - N/A - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 701 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 |  |  |  |  | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Standard Driver's License - Not for federal use |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 8126.59 | 3.9 | 8126.59 | 3.9 | No | 80 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178760 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.250% | 7.250% | $1599.70 | No |  | $7719.72 | $643.31 | $1086.36 | $90.53 | $0.00 | $0.00 | $0.00 | $2333.54 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.071 | 1.071 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 757 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | .00 | 0 | 227212.85 | 97.4 | No | 70 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178802 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.250% | 7.250% | $920.94 | No |  | $1393.56 | $116.13 | $938.04 | $78.17 | $0.00 | $0.00 | $0.00 | $1115.24 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.188 | 1.188 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 739 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | .00 | 0 | 124074.92 | 111.3 | No | 75 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178797 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 6.875% | 6.875% | $2522.61 | No |  | $1080.00 | $90.00 | $1886.04 | $157.17 | $0.00 | $0.00 | $0.00 | $2769.78 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.029 | 1.029 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 716 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 100287.26 | 36.2 | 100287.26 | 36.2 | No | 80 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178786 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.250% | 7.250% | $1559.20 | No |  | $4027.92 | $335.66 | $2331.96 | $194.33 | $0.00 | $0.00 | $0.00 | $2089.19 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.053 | 1.053 |  | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 701 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | .00 | 0 | 233591.14 | 111.8 | No | 74.31 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178753 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 6.875% | 6.875% | $2324.84 | No |  | $8958.60 | $746.55 | $946.80 | $78.90 | $3624.00 | $302.00 | $0.00 | $3452.29 |  | N/A | XXXX | XXXX | $302.00 | XXXX | Monthly | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.014 | 1.01 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 739 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 44715.47 | 13 | 44715.47 | 13 | No | 72.97 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178877 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.125% | 7.125% | $4421.28 | No |  | $7271.40 | $605.95 | $3030.96 | $252.58 | $0.00 | $0.00 | $0.00 | $5279.81 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.515 | 1.515 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 725 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 31122.69 | 5.9 | 31122.69 | 5.9 | No | 75 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178804 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 8.125% | 8.125% | $1110.78 | No |  | $1326.60 | $110.55 | $746.04 | $62.17 | $0.00 | $0.00 | $0.00 | $1283.50 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.247 | 1.247 |  | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 707 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | Yes | N/A | 14292.91 | 11.1 | 14292.91 | 11.1 | No | 80 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178793 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.625% | 7.625% | $2123.38 | No |  | $3150.96 | $262.58 | $1778.76 | $148.23 | $0.00 | $0.00 | $0.00 | $2534.19 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.184 | 1.184 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 682 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | .00 | 0 | 150095.02 | 59.2 | No | 75 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178841 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 6.875% | 6.875% | $1220.31 | No |  | $2169.36 | $180.78 | $1263.00 | $105.25 | $0.00 | $0.00 | $0.00 | $1506.34 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.295 | 1.295 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 790 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 70975.36 | 47.1 | 70975.36 | 47.1 | No | 75 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178775 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.000% | 7.000% | $1022.90 | No |  | $4235.16 | $352.93 | $1821.00 | $151.75 | $804.00 | $67.00 | $0.00 | $1594.58 |  | N/A | XXXX | XXXX | $67.00 | XXXX | Monthly | 0.00% | 0.00% | 0.00% | Yes | Yes |  |  |  |  |  |  | Unknown | Unknown |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  | 0 | 0 | 0.00% |  |  |  | 0 |  |  |  | 0 |  | 0 | No | 0 |  | 0 | 0 |  |  | 0 | 0 |  | Yes | 1.066 | 1.066 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 719 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX | US Citizen | US Citizen | N/A | Standard Driver's License - Not for federal Use |  | XXXX | XXXX | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | .00 | 0 | 143296.40 | 89.9 | No | 75 | N/A | No | No | Yes | Member on Behalf of Entity | Member on Behalf of Entity | N/A | N/A |  |  |  |  |  |
| 10178800 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 6.875% | 6.875% | $3645.95 | No |  | $10885.80 | $907.15 | $6136.20 | $511.35 | $0.00 | $0.00 | $0.00 | $5064.45 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.42 | 1.42 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 691 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 31094.69 | 6.1 | 31094.69 | 6.1 | No | 75 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178795 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.000% | 7.000% | $2843.75 | No |  | $4800.00 | $400.00 | $1557.96 | $129.83 | $0.00 | $0.00 | $0.00 | $3373.58 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes | Yes |  |  |  |  |  |  | Unknown | Unknown |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  | 0 | 0 | 0.00% |  |  |  | 0 |  |  |  | 0 |  | 0 | No | 0 |  | 0 | 0 |  |  | 0 | 0 |  | Yes | 1.242 | 1.242 |  | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified \|\| Co Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 699 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Standard Driver's License - Not for federal use |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX | US Citizen | US Citizen | N/A | Enhanced Driver's License (MI, MN, NY, VT, WA) |  | XXXX | XXXX | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 67788.84 | 20.1 | 67788.84 | 20.1 | No | 75 | N/A | No | No | Yes | Member on Behalf of Entity | Member on Behalf of Entity | N/A | N/A |  |  |  |  |  |
| 10178764 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  | $0.00 | 6.125% | 6.125% | $1809.16 | No |  | $7381.92 | $615.16 | $2922.96 | $243.58 | $0.00 | $0.00 | $0.00 | $2667.90 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.312 | 1.312 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 768 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Passport |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 374916.47 | 140.5 | 374916.47 | 140.5 | No | 75 | N/A | No | No | Yes | Member on Behalf of Entity | N/A | N/A | N/A |  |  |  |  |  |
| 10178789 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  | $0.00 | 7.000% | 7.000% | $2216.67 | No |  | $5120.16 | $426.68 | $921.00 | $76.75 | $0.00 | $0.00 | $0.00 | $2720.10 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.002 | 1 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 745 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 66328.70 | 24.4 | 66328.70 | 24.4 | No | 73.08 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178811 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.250% | 7.250% | $2609.32 | No |  | $2181.36 | $181.78 | $1381.08 | $115.09 | $12240.00 | $1020.00 | $0.00 | $3926.19 |  | Yes | XXXX | XXXX | $1020.00 | XXXX | Monthly | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.486 | 1.486 |  | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 750 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | 138904.90 | 35.4 | 138904.90 | 35.4 | No | 75 | Yes | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |
| 10178762 | XXXX | XXXX | XXXX | XXXX | No | XXXX | XXXX | XXXX | XXXX | XXXX | ATR/QM: Exempt | No | No | No | N/A | N/A |  |  |  | Manual Underwriting | Manual Underwriting | No |  |  | 7.000% | 7.000% | $2355.17 | No |  | $4992.96 | $416.08 | $1423.20 | $118.60 | $0.00 | $0.00 | $0.00 | $2889.85 |  | N/A | XXXX | XXXX | $0.00 | XXXX |  | 0.00% | 0.00% | 0.00% | Yes |  |  |  |  |  |  |  | Unknown |  |  |  |  |  | Debt Service Coverage Ratio |  |  |  |  |  | 0 |  |  |  |  |  |  | 0 | 0 |  | No | No | 0 | No | No |  | 0 | 0 | No |  |  |  | 0.00% |  |  |  | 0 |  |  |  |  |  | 0 | No |  |  | 0 | 0 |  |  |  | 0 |  | Yes | 1.002 | 1.002 | N/A | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null CPA Letter Verified, null YTD Profit And Loss Verified, null Balance Sheet Verified, null Verified, null Paystubs Verified, null Written VOE Verified, null Executed 4506T Verified, null IRS Transcripts Verified, null Award Letter Verified, null Separation Agreement Verified, null Note Receivable Verified, null Personal Bank Statements Verified, null Business Bank Statements Verified, null Lease Agreements Verified, null 1040 Schedule E Verified | Borrower - null Personal Tax Returns Verified, null Business Tax Returns Verified(), null Executed 4506T Verified, null IRS Transcripts Verified, null 1040 Schedule E Verified | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | XXXX | 804 |  |  |  |  |  |  |  |  | No |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | NA | XXXX | XXXX | 0 | XXXX | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | XXXX | 0 | XXXX | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Unknown | No |  |  |  |  |  |  | No | US Citizen | US Citizen | N/A | Real ID Driver's License |  | XXXX | United States of America (USA) | XXXX | XXXX | XXXX | N/A | XXXX | XXXX |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX | XXXX | XXXX |  | XXXX | XXXX |  |  |  |  |  |  | XXXX | XXXX |  | XXXX |  | XXXX | XXXX | Fee Simple | XXXX | No | No | N/A | .00 | 0 | 351407.39 | 121.6 | No | 57.65 | N/A | No | No | Yes | Borrower As Individual | N/A | N/A | N/A |  |  |  |  |  |

---

## Exhibit 99.7

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.7**

**EXECUTIVE SUMMARY<br> Third Party Due Diligence Review**

**Overview**

Consolidated Analytics, Inc ("Consolidated Analytics"), a third-party due diligence provider, performed the review described below on newly originated residential mortgage loans acquired by Morgan Stanley Mortgage Capital Holdings LLC and/or its affiliates through a bulk purchase. The review included a total of 524 newly originated residential mortgage loans, in connection with certain MSRM 2026 April Securitization transactions (each, a "Securitization"). The Review was conducted from February 2025 through March 2026 on mortgage loans originated between January 2025 through February 2026.

**Scope of Review**

**Credit Review**

Consolidated Analytics performed a "Credit Review" to verify compliance with guidelines in effect at the time of loan origination, or other guidelines provided by Client prior to review, and ensure the characteristics used by the underwriter are supported by the file documentation; and determine whether any loans outside of those guidelines contain legitimate and approved exceptions with compensating factors.

The Credit Review attempted to confirm the following:

&nbsp;&nbsp;&nbsp;&nbsp;a. QM
 or ATR Validation / Review of 8 Key Underwriting Factors

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Income
 / Assets

● Validate borrower(s) monthly gross income

● Validate funds required to close, required reserves

● Review file documentation for required level of income and asset verifications

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Employment
 Status

● Review file documentation for required level of employment

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Monthly
 Mortgage Payment

● Confirm program, qualifying rate, terms

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. Simultaneous
 Loans

● Validate all concurrent loans are included in the DTI to properly assess the ability to repay

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. Mortgage
 Related Obligations: PITI, HOA, PMI, etc.

● Validate subject loan monthly payment (PITI) and associated obligations

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi. Debts
 / Obligations

● Validate monthly recurring liabilities

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vii. DTI
 and/or Residual Income

● Validate debt-to-income ratio (DTI) based upon income and debt documentation provided in the file

● Documentation meets Appendix Q requirements for QM Loans

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;viii. Credit
 History

● Review credit report for credit history and required credit depth including any / all inquiries

● Determine representative credit score from credit report

&nbsp;&nbsp;&nbsp;&nbsp;b. Validate
 loan-to-value (LTV) and combined loan-to-value

&nbsp;&nbsp;&nbsp;&nbsp;c. Review
 borrower's occupancy

&nbsp;&nbsp;&nbsp;&nbsp;d. Validation
 through third party resource of the subject properties most recent twelve (12) month
 sales history

&nbsp;&nbsp;&nbsp;&nbsp;e. Confirm
 sufficient evidence in loan file, by reviewing the underwriter's decision to approve
 the loan based upon the borrows income, debt, and credit history, to support borrower's
 willingness and ability to repay the debt

&nbsp;&nbsp;&nbsp;&nbsp;f. Confirm
 that Final 1003 is sufficiently completed

&nbsp;&nbsp;&nbsp;&nbsp;g. Provide
 Audit 1008 with accurate data based on file documentation

&nbsp;&nbsp;&nbsp;&nbsp;h. Confirm
 Loan Approval conditions were met

&nbsp;&nbsp;&nbsp;&nbsp;i. Review
 condominium questionnaire to verify all information is complete, prepared by an authorized
 representative, and address any red flags that may deem condominium project ineligible

&nbsp;&nbsp;&nbsp;&nbsp;j. General
 QM for any loans originated under the GQM Rule

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Pricing
 Thresholds:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Pricing
 for First Lien Loans:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. 2.25%
 for a first-lien covered transaction with a loan amount greater than or equal to the
 applicable dollar amount threshold; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. 3.5%
 for a first-lien covered transaction with a loan amount greater than or equal to the
 applicable dollar amount threshold; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. 6.5%
 for a first-lien covered transaction with a loan amount less than the applicable dollar
 amount threshold.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Pricing
 for Subordinate Lien Loans:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. 3.5%
 for a subordinate-lien covered transaction with a loan amount greater than or equal to
 the applicable dollar amount threshold; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. 6.5%
 for a subordinate-lien covered transaction with a loan amount less than the applicable
 dollar amount threshold.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Pricing
 for Manufactured Homes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. 2.25%
 for a first-lien covered transaction secured by a manufactured home with a loan amount
 equal to or greater than the applicable dollar amount threshold; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. 6.5%
 for a covered transaction secured by a manufactured home with a loan amount less than
 the applicable dollar amount threshold.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Consider
 Income and Assets:

○ Consumer's current or reasonably expected income or assets (other than the value of the dwelling that secures the loan;

○ The consumer's debt obligations, alimony, child support; and

○ The monthly DTI or residual income.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Verification
 of Income and Assets:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Verification
 in compliance with one of the "safe harbor" guidelines will meet the QM verification
 requirement. A creditor is allowed to "mix and match" provisions of the different
 guidelines rather than only apply one guideline per loan.

The specific guidelines that the CFPB is designating for the safe harbor are: The GQM Rule provides that if the creditor verifies the consumer's income or assets, debt obligations, alimony, child support, and monthly DTI or residual income by meeting the standards of certain specified third-party underwriting manuals, then a creditor is presumed to have complied with the verification requirement. These specified manuals are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Chapters
 B3-3 through B3-6 of the Fannie Mae Single Family Selling Guide, published June 3, 2020;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Sections
 5102 through 5500 of the Freddie Mac Single-Family Seller/Servicer Guide, published June
 10, 2020;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Sections
 II.A.1 and II.A.4-5 of the Federal Housing Administration's Single Family Housing
 Policy Handbook, issued October 24, 2019;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. Chapter
 4 of the U.S. Department of Veterans Affairs' Lenders Handbook, revised February
 22, 2019;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. Chapter
 4 of the U.S. Department of Agriculture's Field Office Handbook for the Direct
 Single Family Housing Program, revised March 15, 2019; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi. Chapters
 9 through 11 of the U.S. Department of Agriculture's Handbook for the Single Family
 Guaranteed Loan Program, revised March 19, 2020.

**Compliance Review**

Consolidated Analytics performed a "Compliance Review" to determine, as applicable, to the extent possible and subject to the caveats below, whether the loan complies with applicable regulatory requirements as noted below, each as amended, restated and/or replaced from time to time. In relation to cashout refinances of investment property loans, documentation provided in the loan file will be reviewed only to validate the use of cash out proceeds of business purposes at the origination/consummation of the loan. In the event use of proceeds cannot be validated, or are deemed to be utilized for consumer purposes, the loan would then be subject to a "Compliance Review" of applicable regulatory requirements as noted below, each as amended, restated and/or replaced from time to time. The Compliance Review included the following:

&nbsp;&nbsp;&nbsp;&nbsp;a. Test
 Loan Estimate(s) for accuracy and completeness as well as timing requirements as required
 by TRID Regulations

&nbsp;&nbsp;&nbsp;&nbsp;b. Test
 Closing Disclosure(s) for accuracy and completeness as well as timing requirements as
 required by TRID Regulations

&nbsp;&nbsp;&nbsp;&nbsp;c. Tolerance
 Testing

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Compare
 Loan Estimate and Closing Disclosures

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Identify
 Tolerance Violations and applicable cost to cure

&nbsp;&nbsp;&nbsp;&nbsp;d. Comprehensive
 review of Closing Disclosure to determine transaction accuracy

&nbsp;&nbsp;&nbsp;&nbsp;e. Recalculation
 of APR and Finance Charge

&nbsp;&nbsp;&nbsp;&nbsp;f. Testing
 of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Federal
 High Cost Mortgage provisions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Federal
 Higher Priced Mortgage Loans provisions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Local
 and/or State Anti-predatory and High Cost provisions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. HOEPA
 Points and Fees

&nbsp;&nbsp;&nbsp;&nbsp;g. Determine
 whether specified federal disclosures were provided timely based upon comparison of the
 application date to the dates on such disclosures

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Service
 Provider List

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Home
 Ownership Counselling Disclosure

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. ARM
 Disclosure

&nbsp;&nbsp;&nbsp;&nbsp;h. Compliance
 with QM as it relates to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. APR
 Test

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Points
 & Fees Test

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Prepayment
 Penalty Test

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. Product
 Eligibility Testing

&nbsp;&nbsp;&nbsp;&nbsp;i. Notice
 of Right to Cancel (Rescission) Review

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Confirm
 transaction date, expiration date, and disbursement date

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Confirm
 document is properly executed by all required parties to the transaction

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Confirm
 the correct Right of Rescission document was executed for the transaction type

&nbsp;&nbsp;&nbsp;&nbsp;j. Confirm
 through NMLS the loan originator and originating firm's license status was active
 and properly disclosed on appropriate loan documents

&nbsp;&nbsp;&nbsp;&nbsp;k. Check
 the Loan participants against the exclusionary list provided by Client or by the purchaser
 of the Loan(s)

&nbsp;&nbsp;&nbsp;&nbsp;l. Review
 closing documents to ensure that the Mortgage Loan information is complete, accurate,
 and consistent with other documents; Confirm collateral documents have been recorded
 or sent for recording

The Compliance Review did not include any federal, state or local laws, constitutional provisions, regulations or ordinances that are not expressly enumerated above. Furthermore, the findings reached by Consolidated Analytics are dependent upon its receiving complete and accurate data regarding the loans from loan originators and other third parties upon which Consolidated Analytics is relying in reaching such findings.

**Valuation Review**

Consolidated Analytics performed a "Valuation Review," which included the following:

&nbsp;&nbsp;&nbsp;&nbsp;a. Review
 original appraisal, determination that property is in "average" condition
 or better, or property requires cosmetic improvements (as defined by the appraiser) that
 do not affect habitability. Should an area of concern be identified with the condition
 of the property, Consolidated Analytics will alert Client.

&nbsp;&nbsp;&nbsp;&nbsp;b. Review
 appraisal, determination that property is completely constructed and appraisal is on
 an "as is basis," or property is identified as not completely constructed
 by originating appraiser.

&nbsp;&nbsp;&nbsp;&nbsp;c. Review
 and determine if the appraisal report was performed on appropriate GSE forms and if the
 appraiser indicated in the body of the subject appraisal that the appraisal conforms
 to USPAP standards.

&nbsp;&nbsp;&nbsp;&nbsp;d. Review
 and determine the relevance of the comparable properties and ensure that a rational and
 reliable value was provided and supported as of the effective date of the Origination
 Appraisal.

&nbsp;&nbsp;&nbsp;&nbsp;e. Review
 adjustments (line item, net and gross adjustments) to ensure they are reasonable.

&nbsp;&nbsp;&nbsp;&nbsp;f. Ensure
 that the appraisal conforms to the guidelines provided from the Client.

&nbsp;&nbsp;&nbsp;&nbsp;g. Review
 appraisal to ensure all required documents were included.

&nbsp;&nbsp;&nbsp;&nbsp;h. Review
 location map provided within the appraisal for external obsolescence.

&nbsp;&nbsp;&nbsp;&nbsp;i. Ensure
 highest and best use and zoning complies with guidelines.

&nbsp;&nbsp;&nbsp;&nbsp;j. Confirm
 there are no marketability issues that affect the subject property.

&nbsp;&nbsp;&nbsp;&nbsp;k. Ensure
 subject property does not suffer any functional obsolescence.

&nbsp;&nbsp;&nbsp;&nbsp;l. Where
 applicable, determine if the file did not contain the appraisal or other valuation method
 and a review could not be performed.

&nbsp;&nbsp;&nbsp;&nbsp;m. Additional
 valuation products were not required when the CU score provided was 2.5 or below or the
 appraisal LCA risk score was eligible for Collateral Rep and Warranty relief. In the
 event the CU score was greater than 2.5 or the LCA score was not eligible for R&W
 relief, an additional valuation product was obtained to confirm value was supported within
 10% tolerance. In some instances, based on guidance from the seller, CDA's were
 ordered on loans that had an acceptable CU score or R&W eligibility.

Consolidated Analytics applied a cascade methodology to determine if the original appraised value was reasonably supported when compared to an independent third party valuation product.

For loans reviewed in a post-close valuation review scenario (524 loans in total):

Eleven (11) loans had a Secondary Appraisal, twenty-nine (29) loans had an AVM, and two hundred seventy-nine (279) loans had Desktop Reviews. In ten (10) instances, loans had both an AVM and Desk Review(s). Consolidated Analytics has independent access to the Desktop Reviews ordered by the Aggregator.

If a loan with an AVM or Desktop Review fell outside of a -10% tolerance, was inconclusive, or a PIW was present, then a Field Review, a Broker Price Opinion (BPO) along with a Reconciliation of the values or a 2nd Appraisal was completed. There were five (5) occurrences of this.

Zero (0) loans had a Second Desk Review, and zero (0) loans had a Full Appraisal Review.

**Product totals may not sum due to multiple products for each loan**

**TAPE INTEGRITY REVIEW RESULTS SUMMARY** 

Of the five hundred twenty-four (524) mortgage loans reviewed, one hundred sixty (160) unique mortgage loans (30.53% by loan count) had a total of two hundred fifteen (215) discrepancies across twenty-four (24) data fields. A blank or zero value on the data tape when an actual value was captured by Consolidated Analytics was not treated as a data variance.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Fields Reviewed** | &nbsp;&nbsp;**Discrepancy Count** | &nbsp;&nbsp;**Percentage** |
| &nbsp;&nbsp;Property Type | &nbsp;&nbsp;40 | &nbsp;&nbsp;18.60% |
| &nbsp;&nbsp;PITIA | &nbsp;&nbsp;39 | &nbsp;&nbsp;18.14% |
| &nbsp;&nbsp;Qualifying CLTV | &nbsp;&nbsp;29 | &nbsp;&nbsp;13.49% |
| &nbsp;&nbsp;Qualifying FICO | &nbsp;&nbsp;24 | &nbsp;&nbsp;11.16% |
| &nbsp;&nbsp;DSCR | &nbsp;&nbsp;22 | &nbsp;&nbsp;10.23% |
| &nbsp;&nbsp;P&I | &nbsp;&nbsp;10 | &nbsp;&nbsp;4.65% |
| &nbsp;&nbsp;Note Date | &nbsp;&nbsp;9 | &nbsp;&nbsp;4.19% |
| &nbsp;&nbsp;Monthly Taxes | &nbsp;&nbsp;6 | &nbsp;&nbsp;2.79% |
| &nbsp;&nbsp;Percent of Borrower's Funds for Down Payment | &nbsp;&nbsp;6 | &nbsp;&nbsp;2.79% |
| &nbsp;&nbsp;Qualifying LTV | &nbsp;&nbsp;4 | &nbsp;&nbsp;1.86% |
| &nbsp;&nbsp;As-Is Value | &nbsp;&nbsp;4 | &nbsp;&nbsp;1.86% |
| &nbsp;&nbsp;T & I Payment | &nbsp;&nbsp;4 | &nbsp;&nbsp;1.86% |
| &nbsp;&nbsp;Closing Date | &nbsp;&nbsp;3 | &nbsp;&nbsp;1.40% |
| &nbsp;&nbsp;Mo Pymt (P&I) | &nbsp;&nbsp;2 | &nbsp;&nbsp;0.93% |
| &nbsp;&nbsp;Refinance Type | &nbsp;&nbsp;2 | &nbsp;&nbsp;0.93% |
| &nbsp;&nbsp;Originator DSCR | &nbsp;&nbsp;2 | &nbsp;&nbsp;0.93% |
| &nbsp;&nbsp;Occupancy | &nbsp;&nbsp;2 | &nbsp;&nbsp;0.93% |
| &nbsp;&nbsp;Maturity Date | &nbsp;&nbsp;1 | &nbsp;&nbsp;0.47% |
| &nbsp;&nbsp;Risk Assessment | &nbsp;&nbsp;1 | &nbsp;&nbsp;0.47% |
| &nbsp;&nbsp;Interest Rate | &nbsp;&nbsp;1 | &nbsp;&nbsp;0.47% |
| &nbsp;&nbsp;Borrower 1 Citizen | &nbsp;&nbsp;1 | &nbsp;&nbsp;0.47% |
| &nbsp;&nbsp;Prepymt - May/Will Not Penalty | &nbsp;&nbsp;1 | &nbsp;&nbsp;0.47% |
| &nbsp;&nbsp;Monthly Insurance | &nbsp;&nbsp;1 | &nbsp;&nbsp;0.47% |
| &nbsp;&nbsp;First Payment Date | &nbsp;&nbsp;1 | &nbsp;&nbsp;0.47% |
| &nbsp;&nbsp;**Grand Total** | &nbsp;&nbsp;**215** | &nbsp;&nbsp;**100.00%** |

---

**Summary of Results**

**OVERALL RESULTS SUMMARY**

**Final Loan Grades**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Overall Loan Results:** | &nbsp;&nbsp;**Overall Loan Results:** | &nbsp;&nbsp;**Overall Loan Results:** | &nbsp;&nbsp;**Overall Loan Results:** |
| &nbsp;&nbsp;Event Grade | &nbsp;&nbsp;Loan Count | &nbsp;&nbsp;Original Principal Balance | &nbsp;&nbsp;Percent of Sample |
| &nbsp;&nbsp;Event Grade A | &nbsp;&nbsp;492 | &nbsp;&nbsp;$235330096.00 | &nbsp;&nbsp;93.89% |
| &nbsp;&nbsp;Event Grade B | &nbsp;&nbsp;32 | &nbsp;&nbsp;$30819692.00 | &nbsp;&nbsp;6.11% |
| &nbsp;&nbsp;Event Grade C | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0.00 | &nbsp;&nbsp;0% |
| &nbsp;&nbsp;Event Grade D | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0.00 | &nbsp;&nbsp;0% |
| &nbsp;&nbsp;**Total Sample** | &nbsp;&nbsp;524 | &nbsp;&nbsp;$266149788.00 | &nbsp;&nbsp;100.00% |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Credit Results:** | &nbsp;&nbsp;**Credit Results:** | &nbsp;&nbsp;**Credit Results:** |
| &nbsp;&nbsp;Event Grade | &nbsp;&nbsp;Loan Count | &nbsp;&nbsp;Percent of Sample |
| &nbsp;&nbsp;Event Grade A | &nbsp;&nbsp;513 | &nbsp;&nbsp;97.90% |
| &nbsp;&nbsp;Event Grade B | &nbsp;&nbsp;11 | &nbsp;&nbsp;2.10% |
| &nbsp;&nbsp;Event Grade C | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;Event Grade D | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;**Total Sample** | &nbsp;&nbsp;524 | &nbsp;&nbsp;100.00% |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Compliance Results: (As applicable, 161 loans within the population did not receive a Compliance Review)** | &nbsp;&nbsp;**Compliance Results: (As applicable, 161 loans within the population did not receive a Compliance Review)** | &nbsp;&nbsp;**Compliance Results: (As applicable, 161 loans within the population did not receive a Compliance Review)** |
| &nbsp;&nbsp;Event Grade | &nbsp;&nbsp;Loan Count | &nbsp;&nbsp;Percent of Sample |
| &nbsp;&nbsp;Event Grade A | &nbsp;&nbsp;348 | &nbsp;&nbsp;95.87% |
| &nbsp;&nbsp;Event Grade B | &nbsp;&nbsp;15 | &nbsp;&nbsp;4.13% |
| &nbsp;&nbsp;Event Grade C | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;Event Grade D | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;**Total Sample** | &nbsp;&nbsp;363 | &nbsp;&nbsp;100.00% |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Valuation Results:** | &nbsp;&nbsp;**Valuation Results:** | &nbsp;&nbsp;**Valuation Results:** |
| &nbsp;&nbsp;Event Grade | &nbsp;&nbsp;Loan Count | &nbsp;&nbsp;Percent of Sample |
| &nbsp;&nbsp;Event Grade A | &nbsp;&nbsp;518 | &nbsp;&nbsp;98.85% |
| &nbsp;&nbsp;Event Grade B | &nbsp;&nbsp;6 | &nbsp;&nbsp;1.15% |
| &nbsp;&nbsp;Event Grade C | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;Event Grade D | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;**Total Sample** | &nbsp;&nbsp;524 | &nbsp;&nbsp;100.00% |

---

**Exception Category Summary**

The table below summarizes the individual exceptions which carried an associated "A", "B", "C", or "D" level exception grade. One loan may have carried more than one exception. In such cases, the exception with the lowest grade would drive the loan grade for that particular area of the review. The overall loan grade is the lowest grade for any one particular review scope (ex. a loan with a Compliance Grade of "B", a Credit Grade of "A", and a Property Grade of "A" would receive an overall Loan Grade of "B").

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Exception Type | &nbsp;&nbsp;Exception Level Grade | &nbsp;&nbsp;Exception Category | &nbsp;&nbsp;Total |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;No Credit Findings | &nbsp;&nbsp;311 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;No Findings | &nbsp;&nbsp;101 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Title Insurance Missing or Defective | &nbsp;&nbsp;8 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Rent Loss Insurance Missing | &nbsp;&nbsp;7 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Missing verification of taxes, insurance, and/or HOA fees for non-subject property | &nbsp;&nbsp;6 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Third Party Fraud Report not Provided | &nbsp;&nbsp;5 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Third Party Fraud Report Partially Provided | &nbsp;&nbsp;5 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Borrower 1 Gap Credit Report is Missing | &nbsp;&nbsp;5 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Missing Business Entity Formation Document | &nbsp;&nbsp;5 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Income and Employment Do Not Meet Guidelines | &nbsp;&nbsp;5 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Subject Property Lease - Missing or Defective | &nbsp;&nbsp;4 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;The Final 1003 is Incomplete | &nbsp;&nbsp;4 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;The Deed of Trust is Incomplete | &nbsp;&nbsp;4 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;HO6 Master Insurance Policy is Missing | &nbsp;&nbsp;4 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Housing History Does Not Meet Guideline Requirements | &nbsp;&nbsp;4 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Missing VOM or VOR | &nbsp;&nbsp;4 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Asset Documentation Missing or Defective | &nbsp;&nbsp;3 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Guarantor Identification Missing or Defective | &nbsp;&nbsp;3 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Deed Missing or Defective | &nbsp;&nbsp;3 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Borrower 2 Gap Credit Report is Missing | &nbsp;&nbsp;3 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Borrower 1 Photo Identification not provided | &nbsp;&nbsp;3 |
| &nbsp;&nbsp;Credit | &nbsp;&nbsp;A | &nbsp;&nbsp;Title Coverage is Less than Subject Lien | &nbsp;&nbsp;3 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;Borrower 1 3rd Party VOE Prior to Close Missing | &nbsp;&nbsp;3 |
| &nbsp;&nbsp;Entity Documentation - Missing or Defective | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Audited Reserves are less than Guideline Required Reserves (Dollar Amount) | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Missing Lender Income Calculation Worksheet | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Business Purpose Affidavit/Disclosure Missing | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Title Insurance Coverage - Inadequate Coverage | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Closing Disclosure/Settlement Statement Missing or Defective | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;The Deed of Trust is Missing | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Title Document Missing | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;The Total Hazard Coverage is LESS than the Required Coverage Amount | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Purchase Contract is Missing | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Borrower 2 3rd Party VOE Prior to Close Missing | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Audited DTI Exceeds Guideline DTI | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Audited FICO is less than Guideline FICO | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Hazard Insurance Policy is Partial | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Purchase Contract is Incomplete | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Audited Reserves are less than Guideline Required Reserves (Number of Months) | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Hazard Insurance Effective Date is after the Disbursement Date | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;The Final 1003 is Missing | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Asset 3 Missing | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Background Check Missing or Defective | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Hazard Insurance Policy is Missing | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Condominium Project is Non-Warrantable | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Asset 4 Missing | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Estoppel Certificate Missing or Defective | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Borrower 1 Business Bank Statements Missing | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;PUD Rider is Missing | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Borrower 1 Credit Report is Missing | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Rent Loss Coverage Not Sufficient | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Borrower 1 Executed 4506-T Missing | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Delinquent Credit History Does Not Meet Guideline Requirements | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Insufficient Assets to Close | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;The Note is Missing | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Asset 2 Does Not Meet Guideline Requirements | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Flood Certificate Missing | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Missing explanation and supporting documentation for large deposit(s) | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Verification of Borrower Liabilities Missing or Incomplete | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Missing Income - Bank Statements | &nbsp;&nbsp;1 |

---

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;Asset 3 Does Not Meet Guideline Requirements | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Asset Qualification Does Not Meet Guideline Requirements | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Purchase is not considered to be an Arm's Length Transaction | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Missing letter of explanation | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Closing Documentation Missing or Defective | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Missing Letter of Explanation (Credit) | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Asset 4 Does Not Meet Guideline Requirements | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Missing Prepayment Rider | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;DSCR is less than guideline minimum | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Missing rent comparable schedule form 1007 | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;The Note is Incomplete | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Missing Updated Credit Report Supplement | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Asset 4 Expired | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Borrower 1 YTD Profit & Loss Missing | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Final CD: Calculating Cash to Close Closing Costs Paid, Closing Costs Financed, Down Pmt, Deposit, and/or Funds for Borrower discrepancy | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Assets do not meet guideline requirements | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Flood Certificate Partially Provided | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;ATR: Reasonable Income or Assets Not Considered | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Guideline Seasoning not Met | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Borrower residency documentation not provided or issue with documentation | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Approval/Underwriting Summary Not Provided | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Property Title Issue | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;***Total Credit Grade (A) Exceptions:*** | &nbsp;&nbsp;***579*** |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Excessive LTV Ratio | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Audited HCLTV Exceeds Guideline HCLTV | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Audited CLTV Exceeds Guideline CLTV | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Audited LTV Exceeds Guideline LTV | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Borrower 1 3rd Party VOE Prior to Close Missing | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Guideline Seasoning not Met | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Audited Loan Amount is greater than Guideline Maximum Loan Amount | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Occupancy Not Allowed | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Insufficient Assets to Close | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Third Party Fraud Report not Provided | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Potential Ownership issues identified in file | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Audited Reserves are less than Guideline Required Reserves (Dollar Amount) | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;ATR Risk | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Audited Reserves are less than Guideline Required Reserves (Number of Months) | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;***Total Credit Grade (B) Exceptions:*** | &nbsp;&nbsp;***18*** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;No Compliance Findings | &nbsp;&nbsp;294 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;Higher-Priced Mortgage Loan Test | &nbsp;&nbsp;25 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;eSigned Documents Consent is Missing | &nbsp;&nbsp;9 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;CA AB 260 Higher-Priced Mortgage Loan Test | &nbsp;&nbsp;7 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;Missing Required Affiliated Business Disclosure | &nbsp;&nbsp;5 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;Charges That Cannot Increase Test | &nbsp;&nbsp;5 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;Evidence of Appraisal Delivery to Borrower not Provided or Late (12 CFR 1002.14(a)(1)) | &nbsp;&nbsp;4 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;Revised Loan Estimate Delivery Date Test (prior to consummation) | &nbsp;&nbsp;3 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;Homeownership Counseling Disclosure Is Missing | &nbsp;&nbsp;3 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;Higher-Priced Mortgage Loan Evidence of Appraisal Delivery to the Borrower Not Provided (12 CFR 1026.35(c)(6)) | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;Lender Credits That Cannot Decrease Test | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;Charges That In Total Cannot Increase More Than 10% Test | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;MA 209 CMR 32.35 Higher-Priced Mortgage Loan Test | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;RESPA Homeownership Counseling Organizations Disclosure Date Test | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;Initial Loan Estimate Delivery Date Test (from application) | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;TILA Post-Consummation Revised Closing Disclosure Finance Charge Test | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;Intent to Proceed is Missing | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;High-Cost Mortgage Pre-Loan Counseling Date Test | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;High-Cost Mortgage Late Fee Test | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;High-Cost Mortgage Timing of Disclosure Test | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;Initial Closing Disclosure Delivery Date Test | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;TRID: Missing Closing Disclosure | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;Missing evidence of rate lock | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;High-Cost Mortgage Points and Fees Threshold Test | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;A | &nbsp;&nbsp;***Total Compliance Grade (A) Exceptions:*** | &nbsp;&nbsp;***374*** |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;B | &nbsp;&nbsp;Evidence of Appraisal Delivery to Borrower not Provided or Late (12 CFR 1002.14(a)(1)) | &nbsp;&nbsp;6 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;B | &nbsp;&nbsp;Charges That In Total Cannot Increase More Than 10% Test | &nbsp;&nbsp;5 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;B | &nbsp;&nbsp;Missing Required Affiliated Business Disclosure | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;B | &nbsp;&nbsp;Incorrect rescission model used - RTC form model H-8 used for Same Lender or Lender Affiliate Refinance | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;B | &nbsp;&nbsp;Lender Credits That Cannot Decrease Test | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;B | &nbsp;&nbsp;Charges That Cannot Increase Test | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;B | &nbsp;&nbsp;CA Per Diem Interest Amount Test | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Compliance | &nbsp;&nbsp;B | &nbsp;&nbsp;***Total Compliance Grade (B) Exceptions:*** | &nbsp;&nbsp;***17*** |
| &nbsp;&nbsp;Property | &nbsp;&nbsp;A | &nbsp;&nbsp;No Property Findings | &nbsp;&nbsp;340 |
| &nbsp;&nbsp;Property | &nbsp;&nbsp;A | &nbsp;&nbsp;Third Party Valuation Product Not Provided within 10% Tolerance | &nbsp;&nbsp;9 |
| &nbsp;&nbsp;Property | &nbsp;&nbsp;A | &nbsp;&nbsp;Valuation product is deficient | &nbsp;&nbsp;4 |

---

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;Appraisal Review - Missing | &nbsp;&nbsp;4 |
| | &nbsp;&nbsp;File does not contain all required valuation documents | &nbsp;&nbsp;4 |
| | &nbsp;&nbsp;Hazard Insurance Missing or Defective | &nbsp;&nbsp;3 |
| | &nbsp;&nbsp;Property/Appraisal General | &nbsp;&nbsp;3 |
| | &nbsp;&nbsp;Condo Approval Missing | &nbsp;&nbsp;3 |
| | &nbsp;&nbsp;Subject Property Lease - Missing or Defective | &nbsp;&nbsp;3 |
| | &nbsp;&nbsp;HOA Questionnaire is Missing | &nbsp;&nbsp;2 |
| | &nbsp;&nbsp;Appraiser's license is expired/deficient | &nbsp;&nbsp;2 |
| | &nbsp;&nbsp;Flood Cert or Evidence not in a Flood Zone Missing | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;No Findings | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Appraisal is Expired | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Property Issue(s) are Present | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;Subject property appraisal is not on an as-is basis (Primary Value) | &nbsp;&nbsp;1 |
| | &nbsp;&nbsp;***Total Property Grade (A) Exceptions:*** | &nbsp;&nbsp;***382*** |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Ineligible Property – Square Footage | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Third Party Valuation Product Not Provided within 10% Tolerance | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Property Issue(s) are Present | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Condo Questionnaire Missing or Defective | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Appraisal Aged | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;Desk Review Variance > 10% | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;***Total Property Grade (B) Exceptions:*** | &nbsp;&nbsp;***6*** |

---

**Event Grade Definitions**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Final Loan Grade** | &nbsp;&nbsp;**Final Loan Grade** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;Loan meets Credit, Compliance, and Valuation Guidelines |
| &nbsp;&nbsp;B | &nbsp;&nbsp;The loan substantially meets published Client/Seller guidelines and/or eligibility in the validation of income, assets, or credit, is in material compliance with all applicable laws and regulations, and the value and valuation methodology is supported and substantially meets published guidelines. |
| &nbsp;&nbsp;C | &nbsp;&nbsp;The loan does not meet the published guidelines and/or violates one material law or regulation, and/or the value and valuation methodology is not supported or did not meet published guidelines. |
| &nbsp;&nbsp;D | &nbsp;&nbsp;Loan is missing documentation to perform a sufficient review. |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Credit Event Grades** | &nbsp;&nbsp;**Credit Event Grades** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;The loan meets the published guidelines without any exceptions. The employment, income, assets and occupancy are supported and justifiable. The borrower's willingness and ability to repay the loan is documented and reasonable. |
| &nbsp;&nbsp;B | &nbsp;&nbsp;The loan substantially meets the published guidelines but reasonable compensating factors were considered and documented for exceeding published guidelines. The employment, income, assets and occupancy are supported and justifiable. The borrower's willingness and ability to repay the loan is documented and reasonable. |
| &nbsp;&nbsp;C | &nbsp;&nbsp;The loan does not substantially meet the published guidelines. There are not sufficient compensating factors that justify exceeding the published guidelines. The employment, income, assets or occupancy are not supported and justifiable. The borrower's willingness and ability to repay the loan were not documented or are unreasonable. |
| &nbsp;&nbsp;D | &nbsp;&nbsp;There was not sufficient documentation to perform a review or the credit file was not furnished. |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Compliance Event Grades** | &nbsp;&nbsp;**Compliance Event Grades** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;The loan is in compliance with all applicable laws and regulations. The legal documents accurately reflect the agreed upon loan terms and are executed by all applicable parties. |
| &nbsp;&nbsp;B | &nbsp;&nbsp;The loan is in material compliance with all applicable laws and regulations. The legal documents accurately reflect the agreed upon loan terms and are executed by all applicable parties. Client review required. |
| &nbsp;&nbsp;C | &nbsp;&nbsp;The loan violates one material law or regulation. The material disclosures are absent or the legal documents do not accurately reflect the agreed upon loan terms or all required applicants did not execute the documents. |
| &nbsp;&nbsp;D | &nbsp;&nbsp;There was not sufficient documentation to perform a review or the required legal documents were not furnished. |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Valuation Event Grades** | &nbsp;&nbsp;**Valuation Event Grades** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;The value is supported within 10% of the original appraisal by the AVM or there are other supporting documents in the originators loan file package (CDA, Field Review or Second Appraisal). The appraisal was performed on an "as-is" basis and the property is complete and habitable at origination. The appraiser was appropriately licensed and used GSE approved forms. |
| &nbsp;&nbsp;B | &nbsp;&nbsp;The value is not supported within 10% of the original appraisal by the AVM and there are no other valuation support documents in the loan file provided by the Seller. The valuation methodology substantially meets the published guidelines but reasonable compensating factors were considered and documented for exceeding guidelines. The appraisal was performed on an "as-is" basis and the property is complete and habitable. The appraiser was appropriately licensed and used GSE approved forms. |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Valuation Event Grades** | &nbsp;&nbsp;**Valuation Event Grades** |
| &nbsp;&nbsp;C | &nbsp;&nbsp;The value is not supported within 10% of the original appraisal. The valuation methodology did not meet the published guidelines and there were not sufficient compensating factors for exceeding published guidelines. The property is in below "average" condition or the property is not complete or requires significant repairs. The appraisal was not performed on an "as is" basis. The appraiser was not appropriately licensed or did not use GSE approved forms. |
| &nbsp;&nbsp;D | &nbsp;&nbsp;The file was missing the appraisal or there was not sufficient valuation documentation to perform a review. |

---

## Exhibit 99.8

[MORGAN STANLEY CAPITAL I INC. ABS-15G](msrm-abs15g.htm)

**Exhibit 99.8**

---

| | |
|:---|:---|
| Loan ID | TPR |
| 10026554 | CLARIFII |
| 9895778 | CLARIFII |
| 10007337 | CLARIFII |
| 9365902 | CLARIFII |
| 10005710 | CLARIFII |
| 9895750 | CLARIFII |
| 10026620 | CLARIFII |
| 9846192 | CLARIFII |
| 10026466 | CLARIFII |
| 10005708 | CLARIFII |
| 9855581 | CLARIFII |
| 10085626 | CLARIFII |
| 9502131 | CLARIFII |
| 10026502 | CLARIFII |
| 10007395 | CLARIFII |
| 9227644 | CLARIFII |
| 9226540 | CLARIFII |
| 10026578 | CLARIFII |
| 9976809 | CLARIFII |
| 10085641 | CLARIFII |
| 10085630 | CLARIFII |
| 9896448 | CLARIFII |
| 9846187 | CLARIFII |
| 9807867 | CLARIFII |
| 9855574 | CLARIFII |
| 10005716 | CLARIFII |
| 9807842 | CLARIFII |
| 10110897 | CLARIFII |
| 10026814 | CLARIFII |
| 9555120 | CLARIFII |
| 9855601 | CLARIFII |
| 8442355 | CLARIFII |
| 9388840 | CLARIFII |
| 10099447 | CLARIFII |
| 9768928 | CLARIFII |
| 9365893 | CLARIFII |
| 9243483 | CLARIFII |
| 9125130 | CLARIFII |
| 9855568 | CLARIFII |
| 9976778 | CLARIFII |
| 9248263 | CLARIFII |
| 9896359 | CLARIFII |
| 9855573 | CLARIFII |
| 10026604 | CLARIFII |
| 9896383 | CLARIFII |
| 9216973 | CLARIFII |
| 9197011 | CLARIFII |
| 9855586 | CLARIFII |
| 9855604 | CLARIFII |
| 9768890 | CLARIFII |
| 9768913 | CLARIFII |
| 10026839 | CLARIFII |
| 9846216 | CLARIFII |
| 9846215 | CLARIFII |
| 9895751 | CLARIFII |
| 10026567 | CLARIFII |
| 10066018 | CLARIFII |
| 9896388 | CLARIFII |
| 9917865 | CLARIFII |
| 10026599 | CLARIFII |
| 10026827 | CLARIFII |
| 9243480 | CLARIFII |
| 9855602 | CLARIFII |
| 9356677 | CLARIFII |
| 10005694 | CLARIFII |
| 9613740 | CLARIFII |
| 10026388 | CLARIFII |
| 9855576 | CLARIFII |
| 10026468 | CLARIFII |
| 9857740 | CLARIFII |
| 9857741 | CLARIFII |
| 9857739 | CLARIFII |
| 9857742 | CLARIFII |
| 10026588 | CLARIFII |
| 9248259 | CLARIFII |
| 10026482 | CLARIFII |
| 10026568 | CLARIFII |
| 9896333 | CLARIFII |
| 9976803 | CLARIFII |
| 9807861 | CLARIFII |
| 9768924 | CLARIFII |
| 9807841 | CLARIFII |
| 9846204 | CLARIFII |
| 9846211 | CLARIFII |
| 10005714 | CLARIFII |
| 10005713 | CLARIFII |
| 10178791 | Clarifii |
| 10178814 | Clarifii |
| 10178817 | Clarifii |
| 10178826 | Clarifii |
| 10178832 | Clarifii |
| 10178844 | Clarifii |
| 10178860 | Clarifii |
| 10178882 | Clarifii |
| 10026622 | CLAYTON |
| 10026491 | CLAYTON |
| 10104162 | CLAYTON |
| 10026543 | CLAYTON |
| 10026523 | CLAYTON |
| 10026505 | CLAYTON |
| 10026552 | CLAYTON |
| 10007415 | CLAYTON |
| 9896413 | CLAYTON |
| 10026525 | CLAYTON |
| 10026467 | CLAYTON |
| 10026480 | CLAYTON |
| 10110957 | CLAYTON |
| 10026528 | CLAYTON |
| 10026527 | CLAYTON |
| 10026548 | CLAYTON |
| 9502109 | CLAYTON |
| 10026619 | CLAYTON |
| 9846193 | CLAYTON |
| 10026493 | CLAYTON |
| 10026407 | CLAYTON |
| 10026538 | CLAYTON |
| 10026540 | CLAYTON |
| 10026457 | CLAYTON |
| 10066026 | CLAYTON |
| 10110889 | CLAYTON |
| 9768918 | CLAYTON |
| 10026496 | CLAYTON |
| 10026612 | CLAYTON |
| 10026517 | CLAYTON |
| 10110830 | CLAYTON |
| 10026534 | CLAYTON |
| 9768896 | CLAYTON |
| 10110962 | CLAYTON |
| 10026585 | CLAYTON |
| 10026634 | CLAYTON |
| 10110940 | CLAYTON |
| 10026460 | CLAYTON |
| 10026405 | CLAYTON |
| 10026449 | CLAYTON |
| 10110852 | CLAYTON |
| 10026443 | CLAYTON |
| 10026500 | CLAYTON |
| 10026453 | CLAYTON |
| 10026511 | CLAYTON |
| 10110966 | CLAYTON |
| 10026594 | CLAYTON |
| 10110883 | CLAYTON |
| 10026650 | CLAYTON |
| 9857638 | CLAYTON |
| 10026452 | CLAYTON |
| 9217367 | CLAYTON |
| 10026399 | CLAYTON |
| 10026426 | CLAYTON |
| 10026536 | CLAYTON |
| 9555129 | CLAYTON |
| 10110924 | CLAYTON |
| 10026546 | CLAYTON |
| 10026603 | CLAYTON |
| 10026476 | CLAYTON |
| 10026656 | CLAYTON |
| 10026434 | CLAYTON |
| 10007438 | CLAYTON |
| 10110895 | CLAYTON |
| 10026645 | CLAYTON |
| 10026542 | CLAYTON |
| 10026439 | CLAYTON |
| 9896344 | CLAYTON |
| 10110933 | CLAYTON |
| 9365861 | CLAYTON |
| 9896349 | CLAYTON |
| 9243468 | CLAYTON |
| 10026394 | CLAYTON |
| 10026602 | CLAYTON |
| 10026658 | CLAYTON |
| 10026463 | CLAYTON |
| 10026459 | CLAYTON |
| 9613784 | CLAYTON |
| 10026616 | CLAYTON |
| 9846183 | CLAYTON |
| 10007380 | CLAYTON |
| 10026582 | CLAYTON |
| 10026535 | CLAYTON |
| 9613780 | CLAYTON |
| 10026488 | CLAYTON |
| 10026818 | CLAYTON |
| 10026508 | CLAYTON |
| 10026483 | CLAYTON |
| 10026581 | CLAYTON |
| 10026529 | CLAYTON |
| 10026625 | CLAYTON |
| 9896402 | CLAYTON |
| 10007347 | CLAYTON |
| 10026507 | CLAYTON |
| 10007430 | CLAYTON |
| 10007455 | CLAYTON |
| 10026606 | CLAYTON |
| 10026655 | CLAYTON |
| 10026450 | CLAYTON |
| 10026572 | CLAYTON |
| 9855571 | CLAYTON |
| 9896358 | CLAYTON |
| 9895754 | CLAYTON |
| 9846229 | CLAYTON |
| 9846225 | CLAYTON |
| 9846223 | CLAYTON |
| 9846226 | CLAYTON |
| 10026413 | CLAYTON |
| 10110932 | CLAYTON |
| 10026447 | CLAYTON |
| 10026657 | CLAYTON |
| 10026648 | CLAYTON |
| 10026580 | CLAYTON |
| 10026631 | CLAYTON |
| 10026610 | CLAYTON |
| 10026454 | CLAYTON |
| 10026541 | CLAYTON |
| 10026514 | CLAYTON |
| 10110864 | CLAYTON |
| 10110875 | CLAYTON |
| 10026555 | CLAYTON |
| 10026415 | CLAYTON |
| 10026591 | CLAYTON |
| 10026417 | CLAYTON |
| 10026416 | CLAYTON |
| 10026414 | CLAYTON |
| 10026421 | CLAYTON |
| 10026592 | CLAYTON |
| 10026404 | CLAYTON |
| 10026545 | CLAYTON |
| 10110980 | CLAYTON |
| 10026427 | CLAYTON |
| 10026451 | CLAYTON |
| 9251096 | CLAYTON |
| 10110899 | CLAYTON |
| 10026640 | CLAYTON |
| 9976777 | CLAYTON |
| 9896374 | CLAYTON |
| 10007458 | CLAYTON |
| 8087243 | CLAYTON |
| 10026462 | CLAYTON |
| 10026464 | CLAYTON |
| 9067340 | CLAYTON |
| 10007517 | CLAYTON |
| 10110954 | CLAYTON |
| 10110935 | CLAYTON |
| 10110943 | CLAYTON |
| 10110959 | CLAYTON |
| 10110871 | CLAYTON |
| 10110964 | CLAYTON |
| 10026617 | CLAYTON |
| 10026515 | CLAYTON |
| 10026436 | CLAYTON |
| 10104164 | CLAYTON |
| 10026574 | CLAYTON |
| 10026461 | CLAYTON |
| 10026420 | CLAYTON |
| 10026458 | CLAYTON |
| 9846228 | CLAYTON |
| 10026564 | CLAYTON |
| 10026621 | CLAYTON |
| 10026412 | CLAYTON |
| 10026391 | CLAYTON |
| 10026632 | CLAYTON |
| 10026530 | CLAYTON |
| 10026654 | CLAYTON |
| 10007406 | CLAYTON |
| 10026422 | CLAYTON |
| 10026544 | CLAYTON |
| 9846199 | CLAYTON |
| 10026494 | CLAYTON |
| 10007427 | CLAYTON |
| 9855588 | CLAYTON |
| 10110860 | CLAYTON |
| 10026475 | CLAYTON |
| 10026504 | CLAYTON |
| 10178744 | Clayton |
| 10178748 | Clayton |
| 10178750 | Clayton |
| 10178759 | Clayton |
| 10178765 | Clayton |
| 10178794 | Clayton |
| 10178803 | Clayton |
| 10178806 | Clayton |
| 10178807 | Clayton |
| 10178819 | Clayton |
| 10178833 | Clayton |
| 10178847 | Clayton |
| 10178854 | Clayton |
| 10178859 | Clayton |
| 10178861 | Clayton |
| 10178871 | Clayton |
| 10178872 | Clayton |
| 10178875 | Clayton |
| 9979608 | CONSOLIDATED ANALYTICS |
| 10084881 | CONSOLIDATED ANALYTICS |
| 9979445 | CONSOLIDATED ANALYTICS |
| 9979518 | CONSOLIDATED ANALYTICS |
| 10047556 | CONSOLIDATED ANALYTICS |
| 9985098 | CONSOLIDATED ANALYTICS |
| 9979538 | CONSOLIDATED ANALYTICS |
| 10084905 | CONSOLIDATED ANALYTICS |
| 10084670 | CONSOLIDATED ANALYTICS |
| 9243090 | CONSOLIDATED ANALYTICS |
| 10084945 | CONSOLIDATED ANALYTICS |
| 9986918 | CONSOLIDATED ANALYTICS |
| 9979501 | CONSOLIDATED ANALYTICS |
| 10084841 | CONSOLIDATED ANALYTICS |
| 9981446 | CONSOLIDATED ANALYTICS |
| 9983778 | CONSOLIDATED ANALYTICS |
| 9695132 | CONSOLIDATED ANALYTICS |
| 10084459 | CONSOLIDATED ANALYTICS |
| 10084194 | CONSOLIDATED ANALYTICS |
| 10065414 | CONSOLIDATED ANALYTICS |
| 10084783 | CONSOLIDATED ANALYTICS |
| 10083419 | CONSOLIDATED ANALYTICS |
| 10084886 | CONSOLIDATED ANALYTICS |
| 10085013 | CONSOLIDATED ANALYTICS |
| 9979587 | CONSOLIDATED ANALYTICS |
| 10065419 | CONSOLIDATED ANALYTICS |
| 9983980 | CONSOLIDATED ANALYTICS |
| 9983959 | CONSOLIDATED ANALYTICS |
| 10084708 | CONSOLIDATED ANALYTICS |
| 9983368 | CONSOLIDATED ANALYTICS |
| 10086032 | CONSOLIDATED ANALYTICS |
| 10084671 | CONSOLIDATED ANALYTICS |
| 10066030 | CONSOLIDATED ANALYTICS |
| 10007009 | CONSOLIDATED ANALYTICS |
| 9979576 | CONSOLIDATED ANALYTICS |
| 10084777 | CONSOLIDATED ANALYTICS |
| 9978945 | CONSOLIDATED ANALYTICS |
| 10046497 | CONSOLIDATED ANALYTICS |
| 9981273 | CONSOLIDATED ANALYTICS |
| 10007018 | CONSOLIDATED ANALYTICS |
| 9857714 | CONSOLIDATED ANALYTICS |
| 9983364 | CONSOLIDATED ANALYTICS |
| 9694944 | CONSOLIDATED ANALYTICS |
| 9983371 | CONSOLIDATED ANALYTICS |
| 9982854 | CONSOLIDATED ANALYTICS |
| 9982809 | CONSOLIDATED ANALYTICS |
| 9983150 | CONSOLIDATED ANALYTICS |
| 9983141 | CONSOLIDATED ANALYTICS |
| 9981309 | CONSOLIDATED ANALYTICS |
| 9982855 | CONSOLIDATED ANALYTICS |
| 9979623 | CONSOLIDATED ANALYTICS |
| 9986706 | CONSOLIDATED ANALYTICS |
| 9694926 | CONSOLIDATED ANALYTICS |
| 10007005 | CONSOLIDATED ANALYTICS |
| 10084726 | CONSOLIDATED ANALYTICS |
| 9015162 | CONSOLIDATED ANALYTICS |
| 9983370 | CONSOLIDATED ANALYTICS |
| 9857718 | CONSOLIDATED ANALYTICS |
| 10025877 | CONSOLIDATED ANALYTICS |
| 10084732 | CONSOLIDATED ANALYTICS |
| 9984647 | CONSOLIDATED ANALYTICS |
| 9979624 | CONSOLIDATED ANALYTICS |
| 9979486 | CONSOLIDATED ANALYTICS |
| 9979517 | CONSOLIDATED ANALYTICS |
| 10083420 | CONSOLIDATED ANALYTICS |
| 10110093 | CONSOLIDATED ANALYTICS |
| 10084718 | CONSOLIDATED ANALYTICS |
| 10084772 | CONSOLIDATED ANALYTICS |
| 9979515 | CONSOLIDATED ANALYTICS |
| 9985117 | CONSOLIDATED ANALYTICS |
| 10025882 | CONSOLIDATED ANALYTICS |
| 10025005 | CONSOLIDATED ANALYTICS |
| 10025007 | CONSOLIDATED ANALYTICS |
| 9693768 | CONSOLIDATED ANALYTICS |
| 10047656 | CONSOLIDATED ANALYTICS |
| 10065965 | CONSOLIDATED ANALYTICS |
| 9979453 | CONSOLIDATED ANALYTICS |
| 10028424 | CONSOLIDATED ANALYTICS |
| 10007061 | CONSOLIDATED ANALYTICS |
| 9979508 | CONSOLIDATED ANALYTICS |
| 10084707 | CONSOLIDATED ANALYTICS |
| 10027884 | CONSOLIDATED ANALYTICS |
| 10109946 | CONSOLIDATED ANALYTICS |
| 10084871 | CONSOLIDATED ANALYTICS |
| 9979443 | CONSOLIDATED ANALYTICS |
| 9979447 | CONSOLIDATED ANALYTICS |
| 10026899 | CONSOLIDATED ANALYTICS |
| 10085016 | CONSOLIDATED ANALYTICS |
| 10084794 | CONSOLIDATED ANALYTICS |
| 10109880 | CONSOLIDATED ANALYTICS |
| 10084738 | CONSOLIDATED ANALYTICS |
| 9979504 | CONSOLIDATED ANALYTICS |
| 10084970 | CONSOLIDATED ANALYTICS |
| 10084680 | CONSOLIDATED ANALYTICS |
| 10046503 | CONSOLIDATED ANALYTICS |
| 10084826 | CONSOLIDATED ANALYTICS |
| 10024827 | CONSOLIDATED ANALYTICS |
| 10084725 | CONSOLIDATED ANALYTICS |
| 10084915 | CONSOLIDATED ANALYTICS |
| 9982808 | CONSOLIDATED ANALYTICS |
| 10084823 | CONSOLIDATED ANALYTICS |
| 10084683 | CONSOLIDATED ANALYTICS |
| 10084829 | CONSOLIDATED ANALYTICS |
| 9979514 | CONSOLIDATED ANALYTICS |
| 10084789 | CONSOLIDATED ANALYTICS |
| 10084714 | CONSOLIDATED ANALYTICS |
| 10084981 | CONSOLIDATED ANALYTICS |
| 10084847 | CONSOLIDATED ANALYTICS |
| 9979425 | CONSOLIDATED ANALYTICS |
| 9979509 | CONSOLIDATED ANALYTICS |
| 9983344 | CONSOLIDATED ANALYTICS |
| 9979531 | CONSOLIDATED ANALYTICS |
| 10025881 | CONSOLIDATED ANALYTICS |
| 9389035 | CONSOLIDATED ANALYTICS |
| 9979434 | CONSOLIDATED ANALYTICS |
| 9979585 | CONSOLIDATED ANALYTICS |
| 9502982 | CONSOLIDATED ANALYTICS |
| 9979402 | CONSOLIDATED ANALYTICS |
| 10046563 | CONSOLIDATED ANALYTICS |
| 9979606 | CONSOLIDATED ANALYTICS |
| 10084875 | CONSOLIDATED ANALYTICS |
| 10025053 | CONSOLIDATED ANALYTICS |
| 10084877 | CONSOLIDATED ANALYTICS |
| 9857708 | CONSOLIDATED ANALYTICS |
| 9979466 | CONSOLIDATED ANALYTICS |
| 9980524 | CONSOLIDATED ANALYTICS |
| 9857750 | CONSOLIDATED ANALYTICS |
| 10088417 | CONSOLIDATED ANALYTICS |
| 9693775 | CONSOLIDATED ANALYTICS |
| 10084872 | CONSOLIDATED ANALYTICS |
| 9979385 | CONSOLIDATED ANALYTICS |
| 10008073 | CONSOLIDATED ANALYTICS |
| 10024644 | CONSOLIDATED ANALYTICS |
| 10098762 | CONSOLIDATED ANALYTICS |
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| 10109986 | CONSOLIDATED ANALYTICS |
| 10084816 | CONSOLIDATED ANALYTICS |
| 9979496 | CONSOLIDATED ANALYTICS |
| 9979403 | CONSOLIDATED ANALYTICS |
| 9983342 | CONSOLIDATED ANALYTICS |
| 9857731 | CONSOLIDATED ANALYTICS |
| 10084797 | CONSOLIDATED ANALYTICS |
| 10084801 | CONSOLIDATED ANALYTICS |
| 10084746 | CONSOLIDATED ANALYTICS |
| 10008046 | CONSOLIDATED ANALYTICS |
| 10109938 | CONSOLIDATED ANALYTICS |
| 10084776 | CONSOLIDATED ANALYTICS |
| 10084890 | CONSOLIDATED ANALYTICS |
| 10084681 | CONSOLIDATED ANALYTICS |
| 10025004 | CONSOLIDATED ANALYTICS |
| 9979417 | CONSOLIDATED ANALYTICS |
| 10084688 | CONSOLIDATED ANALYTICS |
| 9979593 | CONSOLIDATED ANALYTICS |
| 9693818 | CONSOLIDATED ANALYTICS |
| 9693782 | CONSOLIDATED ANALYTICS |
| 9389197 | CONSOLIDATED ANALYTICS |
| 9979483 | CONSOLIDATED ANALYTICS |
| 10065969 | CONSOLIDATED ANALYTICS |
| 9985119 | CONSOLIDATED ANALYTICS |
| 10099742 | CONSOLIDATED ANALYTICS |
| 10084896 | CONSOLIDATED ANALYTICS |
| 9979406 | CONSOLIDATED ANALYTICS |
| 10084702 | CONSOLIDATED ANALYTICS |
| 10084810 | CONSOLIDATED ANALYTICS |
| 10084828 | CONSOLIDATED ANALYTICS |
| 9979382 | CONSOLIDATED ANALYTICS |
| 10008199 | CONSOLIDATED ANALYTICS |
| 10083400 | CONSOLIDATED ANALYTICS |
| 10084904 | CONSOLIDATED ANALYTICS |
| 10084666 | CONSOLIDATED ANALYTICS |
| 10084963 | CONSOLIDATED ANALYTICS |
| 10084760 | CONSOLIDATED ANALYTICS |
| 9979521 | CONSOLIDATED ANALYTICS |
| 9979507 | CONSOLIDATED ANALYTICS |
| 10027880 | CONSOLIDATED ANALYTICS |
| 10084986 | CONSOLIDATED ANALYTICS |
| 9979534 | CONSOLIDATED ANALYTICS |
| 10046499 | CONSOLIDATED ANALYTICS |
| 9984882 | CONSOLIDATED ANALYTICS |
| 10024838 | CONSOLIDATED ANALYTICS |
| 10084703 | CONSOLIDATED ANALYTICS |
| 9983369 | CONSOLIDATED ANALYTICS |
| 9857662 | CONSOLIDATED ANALYTICS |
| 10084757 | CONSOLIDATED ANALYTICS |
| 10084715 | CONSOLIDATED ANALYTICS |
| 10084754 | CONSOLIDATED ANALYTICS |
| 10088788 | CONSOLIDATED ANALYTICS |
| 9066933 | CONSOLIDATED ANALYTICS |
| 10109905 | CONSOLIDATED ANALYTICS |
| 10084863 | CONSOLIDATED ANALYTICS |
| 10008075 | CONSOLIDATED ANALYTICS |
| 9695119 | CONSOLIDATED ANALYTICS |
| 10084713 | CONSOLIDATED ANALYTICS |
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| 9979441 | CONSOLIDATED ANALYTICS |
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| 9857667 | CONSOLIDATED ANALYTICS |
| 9979444 | CONSOLIDATED ANALYTICS |
| 10109920 | CONSOLIDATED ANALYTICS |
| 10109933 | CONSOLIDATED ANALYTICS |
| 10046498 | CONSOLIDATED ANALYTICS |
| 10084971 | CONSOLIDATED ANALYTICS |
| 10024822 | CONSOLIDATED ANALYTICS |
| 9857686 | CONSOLIDATED ANALYTICS |
| 9984880 | CONSOLIDATED ANALYTICS |
| 9979392 | CONSOLIDATED ANALYTICS |
| 9979396 | CONSOLIDATED ANALYTICS |
| 9979399 | CONSOLIDATED ANALYTICS |
| 10065411 | CONSOLIDATED ANALYTICS |
| 9857762 | CONSOLIDATED ANALYTICS |
| 9857725 | CONSOLIDATED ANALYTICS |
| 10084722 | CONSOLIDATED ANALYTICS |
| 10084883 | CONSOLIDATED ANALYTICS |
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| 10084940 | CONSOLIDATED ANALYTICS |
| 10046530 | CONSOLIDATED ANALYTICS |
| 9693758 | CONSOLIDATED ANALYTICS |
| 10084804 | CONSOLIDATED ANALYTICS |
| 10065995 | CONSOLIDATED ANALYTICS |
| 10024824 | CONSOLIDATED ANALYTICS |
| 10084736 | CONSOLIDATED ANALYTICS |
| 9980347 | CONSOLIDATED ANALYTICS |
| 10178739 | DIGITAL RISK |
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| 10178873 | DIGITAL RISK |
| 10178879 | DIGITAL RISK |
| 10178881 | DIGITAL RISK |
| 9984973 | SELENE |
| 9984974 | SELENE |
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| 10106766 | SITUS AMC |
| 9953635 | SITUS AMC |
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| 10106567 | SITUS AMC |
| 9861426 | SITUS AMC |
| 10106438 | SITUS AMC |
| 9860507 | SITUS AMC |
| 10106791 | SITUS AMC |
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| 10106648 | SITUS AMC |
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| 10106436 | SITUS AMC |
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| 10106583 | SITUS AMC |
| 9915114 | SITUS AMC |
| 10106416 | SITUS AMC |
| 10106515 | SITUS AMC |
| 9803975 | SITUS AMC |
| 9918163 | SITUS AMC |
| 9979555 | SITUS AMC |
| 9848687 | SITUS AMC |
| 10106725 | SITUS AMC |
| 10106573 | SITUS AMC |
| 9979437 | SITUS AMC |
| 9979620 | SITUS AMC |
| 10106913 | SITUS AMC |
| 10106972 | SITUS AMC |
| 10106981 | SITUS AMC |
| 10106842 | SITUS AMC |
| 10106908 | SITUS AMC |
| 10106917 | SITUS AMC |
| 10106967 | SITUS AMC |
| 10106731 | SITUS AMC |
| 10106763 | SITUS AMC |
| 10106912 | SITUS AMC |
| 10106946 | SITUS AMC |
| 10106907 | SITUS AMC |
| 10106910 | SITUS AMC |
| 10106916 | SITUS AMC |
| 10106985 | SITUS AMC |
| 10106802 | SITUS AMC |
| 10106841 | SITUS AMC |
| 10106782 | SITUS AMC |
| 9861425 | SITUS AMC |
| 10106800 | SITUS AMC |
| 10106857 | SITUS AMC |
| 10106674 | SITUS AMC |
| 10107020 | SITUS AMC |
| 10106934 | SITUS AMC |
| 10106719 | SITUS AMC |
| 10106744 | SITUS AMC |
| 10106444 | SITUS AMC |
| 10106844 | SITUS AMC |
| 10106812 | SITUS AMC |
| 10106676 | SITUS AMC |
| 10106809 | SITUS AMC |
| 10106512 | SITUS AMC |
| 10106591 | SITUS AMC |
| 10106598 | SITUS AMC |
| 10106599 | SITUS AMC |
| 10106600 | SITUS AMC |
| 9896406 | SITUS AMC |
| 10106814 | SITUS AMC |
| 10106944 | SITUS AMC |
| 9803969 | SITUS AMC |
| 10091818 | SITUS AMC |
| 9898645 | SITUS AMC |
| 9860518 | SITUS AMC |
| 9845845 | SITUS AMC |
| 10106437 | SITUS AMC |
| 10106496 | SITUS AMC |
| 10106657 | SITUS AMC |
| 9915344 | SITUS AMC |
| 9896387 | SITUS AMC |
| 10106527 | SITUS AMC |
| 10106964 | SITUS AMC |
| 10106755 | SITUS AMC |
| 10106756 | SITUS AMC |
| 10106753 | SITUS AMC |
| 10106432 | SITUS AMC |
| 9979463 | SITUS AMC |
| 10106728 | SITUS AMC |
| 10106992 | SITUS AMC |
| 10106994 | SITUS AMC |
| 10106489 | SITUS AMC |
| 10106533 | SITUS AMC |
| 10106850 | SITUS AMC |
| 9809936 | SITUS AMC |
| 9803925 | SITUS AMC |
| 9862235 | SITUS AMC |
| 10106759 | SITUS AMC |
| 10106684 | SITUS AMC |
| 10106435 | SITUS AMC |
| 10106741 | SITUS AMC |
| 10106716 | SITUS AMC |
| 10106611 | SITUS AMC |
| 9979468 | SITUS AMC |
| 10106414 | SITUS AMC |
| 9862029 | SITUS AMC |
| 10106849 | SITUS AMC |
| 10106851 | SITUS AMC |
| 10106846 | SITUS AMC |
| 10106852 | SITUS AMC |
| 10106847 | SITUS AMC |
| 10106848 | SITUS AMC |
| 10106418 | SITUS AMC |
| 10106422 | SITUS AMC |
| 10106423 | SITUS AMC |
| 9803983 | SITUS AMC |
| 9896599 | SITUS AMC |
| 10106824 | SITUS AMC |
| 9809216 | SITUS AMC |
| 10106794 | SITUS AMC |
| 9860510 | SITUS AMC |
| 10106714 | SITUS AMC |
| 10107015 | SITUS AMC |
| 10106827 | SITUS AMC |
| 10106819 | SITUS AMC |
| 10178749 | SITUS AMC |
| 10178798 | SITUS AMC |
| 10178829 | SITUS AMC |
| 10178864 | SITUS AMC |
| 10178878 | SITUS AMC |
| 10178880 | SITUS AMC |

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