# EDGAR Filing Document

**Accession Number:** 0001541356
**File Stem:** 0001541356-23-000006
**Filing Date:** 2023-3
**Character Count:** 56916
**Document Hash:** 5f43d3cfddf56cdf13bee37d88f4e3c3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001541356-23-000006.hdr.sgml**: 20230324

**ACCESSION NUMBER**: 0001541356-23-000006

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

**PUBLIC DOCUMENT COUNT**: 6

**CONFORMED PERIOD OF REPORT**: 20230322

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

**FILED AS OF DATE**: 20230324

**DATE AS OF CHANGE**: 20230324

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Commercial mortgages

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Marriott Ownership Resorts, Inc.
- **CENTRAL INDEX KEY:** 0001541356
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531]
- **IRS NUMBER:** 521320904
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1228

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-00523
- **FILM NUMBER:** 23759489

**BUSINESS ADDRESS:**
- **STREET 1:** 6649 WESTWOOD BOULEVARD, SUITE 300
- **CITY:** ORLANDO
- **STATE:** FL
- **ZIP:** 32821
- **BUSINESS PHONE:** (407) 206-2000

**MAIL ADDRESS:**
- **STREET 1:** 6649 WESTWOOD BOULEVARD, SUITE 300
- **CITY:** ORLANDO
- **STATE:** FL
- **ZIP:** 32821
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Marriott Ownership Resorts, Inc.
- **CENTRAL INDEX KEY:** 0001541356
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531]
- **IRS NUMBER:** 521320904
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1228

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

**BUSINESS ADDRESS:**
- **STREET 1:** 6649 WESTWOOD BOULEVARD, SUITE 300
- **CITY:** ORLANDO
- **STATE:** FL
- **ZIP:** 32821
- **BUSINESS PHONE:** (407) 206-2000

**MAIL ADDRESS:**
- **STREET 1:** 6649 WESTWOOD BOULEVARD, SUITE 300
- **CITY:** ORLANDO
- **STATE:** FL
- **ZIP:** 32821
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Marriott Ownership Resorts, Inc.
- **CENTRAL INDEX KEY:** 0001541356
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531]
- **IRS NUMBER:** 521320904
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1228

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-00523

**BUSINESS ADDRESS:**
- **STREET 1:** 6649 WESTWOOD BOULEVARD, SUITE 300
- **CITY:** ORLANDO
- **STATE:** FL
- **ZIP:** 32821
- **BUSINESS PHONE:** (407) 206-2000

**MAIL ADDRESS:**
- **STREET 1:** 6649 WESTWOOD BOULEVARD, SUITE 300
- **CITY:** ORLANDO
- **STATE:** FL
- **ZIP:** 32821

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM ABS-15G**

**ASSET-BACKED SECURITIZER REPORT**

**PURSUANT TO SECTION 15G OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

**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 earliest event reported)**

**Commission File Number of securitizer:**

**Central Index Key Number of securitizer:**

**Name and telephone number, including area code, of the person 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)(1) ☐

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) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

**Central Index Key Number of securitizer: 0001541356**

**MVW 2023-1 LLC**

**(Exact name of issuing entity as specified in its charter)**

**Central Index Key Number of issuing entity (if applicable): Not applicable**

**Central Index Key Number of underwriter (if applicable): Not applicable**

**James H Hunter, IV, Executive Vice President and General Counsel (407) 513-6896**

**Name and telephone number, including area code, of the person to contact in connection with this filing**

------

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

Attached as Exhibit 99.1 hereto is a Report of Independent Accountants on Applying Agreed-Upon Procedures, dated March 22, 2023, obtained by the securitizer, with respect to certain agreed-upon procedures performed by Ernst & Young LLP. Attached as Exhibit 99.2 hereto is a Report, dated March 22, 2023, obtained by the securitizer, with respect to certain procedures performed by Computershare Trust Company, National Association, as custodian.

**Exhibit Index**

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| <u>[99.1](exhibit991eyaupreport.htm)</u> | Report of Independent Accountants on Applying Agreed-Upon Procedures, dated March 22, 2023 |
| <u>[99.2](exhibit992computersharerep.htm)</u> | Report of Custodian, dated March 22, 2023 |

---

______________________________________________________________________________

**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.

Date: March 24, 2023

---

| | |
|:---|:---|
| MARRIOTT OWNERSHIP RESORTS, INC.<br>(Securitizer) | MARRIOTT OWNERSHIP RESORTS, INC.<br>(Securitizer) |
| By: | /s/ Joseph J. Bramuchi |
| Name: Joseph J. Bramuchi | Name: Joseph J. Bramuchi |
| Title: Vice President | Title: Vice President |

---

## Exhibit 99.1

**Exhibit 99.1**

![eyreportheadera.jpg](eyreportheadera.jpg)

Report of Independent Accountants on Applying Agreed-Upon Procedures

Marriott Ownership Resorts, Inc.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 March 2023

9002 San Marco Court

Orlando, Florida 32819

Re:&nbsp;&nbsp;&nbsp;&nbsp;MVW 2023-1 LLC (the "Issuer")

Timeshare Loan-Backed Notes, Series 2023-1 (the "Notes")

Sample Timeshare Loan Agreed-Upon Procedures

We have performed the procedures enumerated in Attachment A, which were agreed to and acknowledged as appropriate by Marriott Ownership Resorts, Inc. ("MORI"), Wells Fargo Securities, LLC ("Wells Fargo Securities," or the "Structuring Agent"), Atlas SP Securities, a division of Apollo Global Securities, LLC ("Atlas SP") and BofA Securities, Inc. ("BofA Securities," together with MORI, Wells Fargo Securities and Atlas SP, 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 timeshare interest loans corresponding to Marriott Vacation Club (the "MVC Timeshare Loans"), Vistana Signature Experiences (the "VSE Timeshare Loans"), Hyatt Vacation Ownership (the "HVO Timeshare Loans") and WHV Resort Group, Inc. (the "WHV Timeshare Loans," together with the MVC Timeshare Loans, VSE Timeshare Loans and HVO Timeshare Loans, the "Timeshare Loans") relating to the Issuer'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.

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| ![eyheaderpg2a.jpg](eyheaderpg2a.jpg) | Page 2 of 5 |

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For the purpose of the procedures described in this report, MORI provided us with:

a.An electronic data file labeled "2023-1 AUP MVW sample selection data tape.xlsx" and the corresponding record layout and decode information, as applicable (the "Sample Data File"), containing tabs:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.Labeled "MVC Sample" that MORI indicated contains information relating to 122 timeshare interest loans corresponding to Marriott Vacation Club (the "MVC Sample Timeshare Loans"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.Labeled "Welk Sample" that MORI indicated contains information relating to 28 timeshare interest loans corresponding to WHV Resort Group, Inc. (the "WHV Sample Timeshare Loans"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii.Labeled "HVO Sample" that MORI indicated contains information relating to 2 timeshare interest loans corresponding to Hyatt Vacation Ownership (the "HVO Sample Timeshare Loans") and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv.Labeled "VSE Sample" that MORI indicated contains information relating to 98 timeshare interest loans corresponding to Vistana Signature Experiences (the "VSE Sample Timeshare Loans," together with the MVC Sample Timeshare Loans, WHV Sample Timeshare Loans and HVO Sample Timeshare Loans, the "Sample Timeshare Loans")

as of 31 December 2022 (the "Preliminary Cut-Off Date"),

b.Imaged copies of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.The promissory note, lost note affidavit or other related documents (collectively and as applicable, the "MVC Note"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.The deed of trust (the "MVC Deed of Trust"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii.The mortgage (the "MVC Mortgage"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv.The note and mortgage modification (the "MVC Modification"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v.The contract for purchase, purchase agreement or other related documents (collectively and as applicable, the "MVC Contract for Purchase"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi.The contract addendum (the "MVC Contract Addendum"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vii.The credit report (the "MVC Credit Report"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;viii.The HUD-1 uniform settlement statement (the "MVC HUD-1"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ix.The summary of closing costs disbursement records, closing disclosure or other related documents (collectively and as applicable, the "MVC Closing Disclosure") and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;x.Certain screen shots from MORI's servicing system (the "MortgageServ System Screen Shots," together with the MVC Note, MVC Deed of Trust, MVC Mortgage, MVC Modification, MVC Contract for Purchase, MVC Contract Addendum, MVC Credit Report, MVC HUD-1 and MVC Closing Disclosure, the "MVC Source Documents"),

as applicable, that MORI indicated relate to each MVC Sample Timeshare Loan,

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| ![eyheaderpg2a.jpg](eyheaderpg2a.jpg) | Page 3 of 5 |

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c.Imaged copies of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.The purchase and sale agreement (the "WHV Agreement"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.The promissory note and security agreement (the "WHV Note"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii.Certain printed screen shots and payment histories from WHV Resort Group, Inc.'s or its affiliate's servicing system (the "WHV System Screen Shots"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv.The borrower's credit report (the "WHV Borrower Credit Report") and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v.The co-borrower's credit report, as applicable, (the "WHV Co-Borrower Credit Report," together with the WHV Agreement, WHV Note, WHV System Screen Shots and WHV Borrower Credit Report, the "WHV Source Documents")

as applicable, that MORI indicated relate to each WHV Sample Timeshare Loan,

d.Imaged copies of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.The note, adjustable rate note secured by mortgage, note modification agreement or other related documents (collectively and as applicable, the "HVO Note"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.The purchase agreement, purchase and sale agreement, timeshare services agreement, purchase contract or other related documents (collectively and as applicable, the "HVO Purchase Agreement"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii.The credit report (the "HVO Credit Report"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv.The summary of closing costs disbursement records, closing disclosure or other related documents (collectively and as applicable, the "HVO Closing Disclosure") and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v.Certain printed screen shots from Hyatt Vacation Ownership's or its affiliate's servicing system (the "HVO System Screen Shots," together with the HVO Note, HVO Purchase Agreement, HVO Credit Report and HVO Closing Disclosure, the "HVO Source Documents"),

as applicable, that MORI indicated relate to each HVO Sample Timeshare Loan,

e.Imaged copies of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.The note, adjustable rate note secured by mortgage, note modification agreement or other related documents (collectively and as applicable, the "VSE Note"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.The mortgage, deed of trust or other related documents (collectively and as applicable, the "VSE Mortgage"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii.The purchase agreement, purchase and sale agreement, timeshare services agreement, purchase contract or other related documents (collectively and as applicable, the "VSE Purchase Agreement"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv.The credit report (the "VSE Credit Report"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v.The HUD-1 uniform settlement statement (the "VSE HUD-1"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi.The truth in lending disclosure statement (the "VSE Truth in Lending Disclosure Statement") and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vii.Certain printed screen shots from Vistana Signature Experiences' or its affiliate's servicing system (the "VSE System Screen Shots," together with the VSE Note, VSE Mortgage, VSE Purchase Agreement, VSE Credit Report, VSE HUD-1 and VSE Truth in Lending Disclosure Statement, the "VSE Source Documents," together with the MVC Source Documents, WHV Source Documents and HVO Source Documents, the "Source Documents"),

as applicable, that MORI indicated relate to each VSE Sample Timeshare Loan,

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

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| ![eyheaderpg2a.jpg](eyheaderpg2a.jpg) | Page 4 of 5 |

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g.The list of relevant characteristics (the "WHV Sample Characteristics on the Sample Data File, which is shown on Exhibit 2 to Attachment A,

h.The list of relevant characteristics (the "HVO Sample Characteristics") on the Sample Data File, which is shown on Exhibit 3 to Attachment A,

i.The list of relevant characteristics (the "VSE Sample Characteristics," together with the MVC Sample Characteristics, WHV Sample Characteristics and HVO Sample Characteristics, the "Sample Characteristics") on the Sample Data File, which is shown on Exhibit 4 to Attachment A, and

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

MORI indicated that the Sample Timeshare Loans on the Sample Data File were selected by the Structuring Agent, on behalf of MORI. MORI, or the Structuring Agent, on behalf of MORI, did not inform us as to the basis for how the Structuring Agent, on behalf of MORI, determined the number of Sample Timeshare Loans or the methodology the Structuring Agent, on behalf of MORI, used to select the Sample Timeshare Loans. Additionally, MORI indicated that the Sample Timeshare Loans are expected to be representative of the Timeshare Loans.

For the purpose of the procedures described in this report, the:

a.122 MVC Sample Timeshare Loans are referred to as Sample Timeshare Loan Numbers 1 through 122,

b.28 WHV Sample Timeshare Loans are referred to as Sample Timeshare Loan Numbers 123 through 150,

c.2 HVO Sample Timeshare Loans are referred to as Sample Timeshare Loan Numbers 151 through 152 and

d.98 VSE Sample Timeshare Loans are referred to as Sample Timeshare Loan Numbers 153 through 250.

For the purpose of the procedures described in this report, certain information contained on the Sample 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. MORI is responsible for the Subject Matter, Sample Data File, 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 Source Documents or any other information provided to us, or that we were instructed to obtain, as applicable, by MORI, or the Structuring Agent, on behalf of MORI, 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 Sample Timeshare Loans or Timeshare 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 MORI, or the Structuring Agent, on behalf of MORI, 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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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;&nbsp;&nbsp;&nbsp;&nbsp;i.Whether the origination of the Timeshare 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;&nbsp;&nbsp;&nbsp;&nbsp;ii.The value of the collateral securing the Timeshare Loans,

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

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

We are required to be independent of MORI 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 procedure 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.

/s/ Ernst & Young LLP

22 March 2023

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| ![eyheaderpg2a.jpg](eyheaderpg2a.jpg) | Attachment A<br>Page 1 of 2 |

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

1. For each MVC Sample Timeshare Loan, we compared the MVC Sample Characteristics listed on Exhibit 1 to Attachment A, as shown on the Sample Data File, to the corresponding information located in, or to the corresponding information we recalculated using information located in, the MVC Source Documents, subject to the instructions, assumptions and methodologies provided by MORI described in the notes to Exhibit 1 to Attachment A and the additional instruction(s) provided by MORI described in the succeeding paragraph(s) of this Item. Except for the information shown on Exhibit 5 to Attachment A, all such compared information was found to be in agreement.

The MVC Source Document(s) that MORI instructed us to use for each MVC Sample Characteristic are indicated on Exhibit 1 to Attachment A. Unless otherwise indicated in the notes to Exhibit 1 to Attachment A, where more than one MVC Source Document is listed for an MVC Sample Characteristic, MORI instructed us to note agreement if the information on the Sample Data File for the MVC Sample Characteristic agreed with the corresponding information in at least one of the MVC Source Documents that are listed for such MVC Sample Characteristic on Exhibit 1 to Attachment A. We performed no procedures to reconcile any differences that may exist between various MVC Source Documents for any of the MVC Sample Characteristics listed on Exhibit 1 to Attachment A.

2. For each WHV Sample Timeshare Loan, we compared the WHV Sample Characteristics listed on Exhibit 2 to Attachment A, as shown on the Sample Data File, to the corresponding information located in, or to the corresponding information we recalculated using information located in, the WHV Source Documents, subject to the instructions, assumptions and methodologies provided by MORI described in the notes to Exhibit 2 to Attachment A and the additional instruction(s) provided by MORI described in the succeeding paragraph(s) of this Item. All such compared information was found to be in agreement.

The WHV Source Document(s) that MORI instructed us to use for each WHV Sample Characteristic are indicated on Exhibit 2 to Attachment A. Unless otherwise indicated in the notes to Exhibit 2 to Attachment A, where more than one WHV Source Document is listed for a WHV Sample Characteristic, MORI instructed us to note agreement if the information on the Sample Data File for the WHV Sample Characteristic agreed with the corresponding information in at least one of the WHV Source Documents that are listed for such WHV Sample Characteristic on Exhibit 2 to Attachment A. We performed no procedures to reconcile any differences that may exist between various WHV Source Documents for any of the WHV Sample Characteristics listed on Exhibit 2 to Attachment A.

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| ![eyheaderpg2a.jpg](eyheaderpg2a.jpg) | Attachment A<br>Page 2 of 2 |

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3. For each HVO Sample Timeshare Loan, we compared the HVO Sample Characteristics listed on Exhibit 3 to Attachment A, as shown on the Sample Data File, to the corresponding information located in, or to the corresponding information we recalculated using information located in, the HVO Source Documents or the Sample Data File, as applicable, subject to the instructions, assumptions and methodologies provided by MORI described in the notes to Exhibit 3 to Attachment A and the additional instruction(s) provided by MORI described in the succeeding paragraph(s) of this Item. All such compared information was found to be in agreement.

The HVO Source Document(s) that MORI instructed us to use for each HVO Sample Characteristic are indicated on Exhibit 3 to Attachment A. Unless otherwise indicated in the notes to Exhibit 3 to Attachment A, where more than one HVO Source Document is listed for an HVO Sample Characteristic, MORI instructed us to note agreement if the information on the Sample Data File for the HVO Sample Characteristic agreed with the corresponding information in at least one of the HVO Source Documents that are listed for such HVO Sample Characteristic on Exhibit 3 to Attachment A. We performed no procedures to reconcile any differences that may exist between various HVO Source Documents for any of the HVO Sample Characteristics listed on Exhibit 3 to Attachment A.

4. For each VSE Sample Timeshare Loan, we compared the VSE Sample Characteristics listed on Exhibit 4 to Attachment A, as shown on the Sample Data File, to the corresponding information located in, or to the corresponding information we recalculated using information located in, the VSE Source Documents or the Sample Data File, as applicable, subject to the instructions, assumptions and methodologies provided by MORI described in the notes to Exhibit 4 to Attachment A and the additional instruction(s) provided by MORI described in the succeeding paragraph(s) of this Item. All such compared information was found to be in agreement.

The VSE Source Document(s) that MORI instructed us to use for each VSE Sample Characteristic are indicated on Exhibit 4 to Attachment A. Unless otherwise indicated in the notes to Exhibit 4 to Attachment A, where more than one VSE Source Document is listed for a VSE Sample Characteristic, MORI instructed us to note agreement if the information on the Sample Data File for the VSE Sample Characteristic agreed with the corresponding information in at least one of the VSE Source Documents that are listed for such VSE Sample Characteristic on Exhibit 4 to Attachment A. We performed no procedures to reconcile any differences that may exist between various VSE Source Documents for any of the VSE Sample Characteristics listed on Exhibit 4 to Attachment A.

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 Exhibit 1 to Attachment A<br>Page 1 of 5

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

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|:---|:---|:---|:---|
| **MVC Sample**<br>**<u>Characteristic</u>**  | **Sample**<br>**<u>Data File Field Name</u>**  | **<u>MVC Source Document(s)</u>** | **<u>Note</u>** |
| Loan number | Loan Number | MortgageServ System Screen Shots | i. |
| Billing country | Billing Country | MVC Contract for Purchase or &nbsp;&nbsp;&nbsp;&nbsp; MortgageServ System Screen Shots | ii. |
| Billing state | Billing State | MVC Contract for Purchase or &nbsp;&nbsp;&nbsp;&nbsp; MortgageServ System Screen Shots | ii. |
| Interest rate | Interest Rate | MVC Note or MVC Modification |  |
| Open date | Open Date | MVC Note, MVC Deed of Trust, MVC Mortgage, MVC Modification, MVC Contract for Purchase, MVC Contract Addendum, MVC Credit Report, MVC HUD-1 or MVC Closing Disclosure |  |
| Original term | Original Term | (a)MVC Note, MVC Deed of Trust, MVC Mortgage or MVC Modification or<br>(b)(i) MVC Note, MVC Deed of Trust, MVC Mortgage, MVC Modification, MVC Contract for Purchase, MVC Contract Addendum, MVC Credit Report, MVC HUD-1, MVC Closing Disclosure or MortgageServ System Screen Shots and (ii) Recalculation | iii. |
| Original balance | Original Balance | MVC Note, MVC Deed of Trust, MVC Mortgage or MVC Modification |  |
| Current balance | Current Balance | MortgageServ System Screen Shots | iv. |
| Original loan to value | Original Loan to Value | (a)MVC Note, MVC Deed of Trust, MVC Mortgage, MVC Modification, MVC Contract for Purchase, MVC Contract Addendum, MVC Credit Report, MVC HUD-1 or MVC Closing Disclosure and<br>(b)Recalculation | v. |
| Next payment due date | Next Payment Due <br>&nbsp;&nbsp;&nbsp;&nbsp; Date | MortgageServ System Screen Shots | iv. |
| Credit score | Credit Score (Beacon) | (a)MVC Credit Report or<br>(b)MVC Credit Report and recalculation | vi. |

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 Exhibit 1 to Attachment A<br>Page 2 of 5

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| | | | |
|:---|:---|:---|:---|
| **MVC Sample**<br>**<u>Characteristic</u>**  | **Sample**<br>**<u>Data File Field Name</u>**  | **<u>MVC Source Document(s)</u>** | **<u>Note</u>** |
| Monthly payment | Monthly Payment | MVC Note, MVC Deed of Trust, MVC Mortgage or MVC Modification |  |
| Maturity date (month/year) | Maturity Date (month/year) | MVC Note, MVC Deed of Trust, MVC Mortgage, MVC Modification or MortgageServ System Screen Shots | vii. |
| Down payment | Down Payment | (a)MVC HUD-1, MVC Closing Disclosure or MVC Contract for Purchase or<br>(b)(i) MVC HUD-1, MVC Closing Disclosure or MVC Contract for Purchase and (ii) Recalculation | viii. |
| Resort/project ID | Resort/Project Id | MVC Note, MVC Deed of Trust, MVC Mortgage, MVC Modification, MVC Contract for Purchase, MVC Contract Addendum, MVC Credit Report, MVC HUD-1 or MVC Closing Disclosure | ix. |
| Purchase price | Purchase Price | MVC Note, MVC Deed of Trust, MVC Mortgage, MVC Modification, MVC Contract for Purchase, MVC Contract Addendum, MVC Credit Report, MVC HUD-1 or MVC Closing Disclosure | x. |

---

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

i.For identification purposes only.

ii.For the purpose of comparing the indicated MVC Sample Characteristics for each MVC Sample Timeshare Loan, MORI instructed us to ignore differences due to abbreviation or truncation.

------

 Exhibit 1 to Attachment A<br>Page 3 of 5

**<u>Notes</u>:** (continued)

iii.For the purpose of comparing the original term MVC Sample Characteristic for each MVC Sample Timeshare Loan that does not have the original term specifically stated in the applicable MVC Source Document, MORI instructed us to recalculate the original term as the difference in months between the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Maturity date (month/year) and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Open date,

both as shown in the applicable MVC Source Document, subject to the additional instruction(s) provided by MORI described in the succeeding paragraph(s) of this note.

For the purpose of the recalculation described in the preceding paragraph, MORI instructed us to use the first day of the month following the open date if the open date, as shown in the applicable MVC Source Document, falls on the 29<sup>th</sup>, 30<sup>th</sup> or 31<sup>st</sup> day of the month.

iv.MORI indicated that certain of the MortgageServ System Screen Shots contained account activity that occurred after the Preliminary Cut-Off Date. For the purpose of comparing the indicated MVC Sample Characteristics for each MVC Sample Timeshare Loan, MORI instructed us to only consider account activity shown in the MortgageServ System Screen Shots that occurred on or prior to the Preliminary Cut-Off Date.

v.For the purpose of comparing the original loan to value MVC Sample Characteristic for each MVC Sample Timeshare Loan, MORI instructed us to recalculate the original loan to value by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Dividing 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 balance

by

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)Purchase price,

both as shown in the applicable MVC Source Document,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Multiplying the result obtained in a. above by 100 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Rounding the result obtained in b. above to the nearest integer.

------

 Exhibit 1 to Attachment A<br>Page 4 of 5

**<u>Notes</u>:** (continued)

vi.MORI instructed us not to compare the credit score MVC Sample Characteristic for any MVC Sample Timeshare Loan with a credit score value of "0," "1," "5" or "999," as shown on the Sample Data File.

Additionally, for the purpose of comparing the credit score MVC Sample Characteristic for each MVC Sample Timeshare Loan (except for the MVC Sample Timeshare Loans described in the preceding paragraph(s) of this note), MORI instructed us to use the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Primary borrower credit score,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Secondary borrower credit score or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Recalculated average value of the primary borrower credit score and secondary borrower credit score,

all as shown in, or as recalculated using information shown in, the MVC Credit Report, and to note agreement if the credit score value, as shown on the Sample Data File, agreed to the corresponding information described in either a., b. or c. above. We performed no procedures to reconcile any differences that may exist relating to the information that we observed or recalculated in a., b. or c. above, as applicable.

vii.For the purpose of comparing the maturity date (month/year) MVC Sample Characteristic for each MVC Sample Timeshare Loan, MORI instructed us to note agreement if the month and year of the maturity date, as shown on the Sample Data File, agreed with the month and year of the maturity date, as shown in the applicable MVC Source Document.

viii.For the purpose of comparing the down payment MVC Sample Characteristic for each MVC Sample Timeshare Loan, MORI instructed us to note agreement if the value on the Sample Data File agreed with either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.The corresponding information in the MVC HUD-1, MVC Closing Disclosure or MVC Contract for Purchase,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.The result of adding the total amount of down payment or deposits, all as shown in the MVC HUD-1, MVC Closing Disclosure or MVC Contract for Purchase, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.The result of subtracting 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)Total closing costs or maintenance fees, as shown in the MVC HUD-1, MVC Closing Disclosure or MVC Contract for Purchase,

from

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)Result obtained in b. above,

subject to the additional instruction(s) provided by MORI described in the succeeding paragraph(s) of this note.

For the purpose of comparing the down payment MVC Sample Characteristic for each MVC Sample Timeshare Loan, MORI instructed us to ignore differences of +/- $1.00 or less.

We performed no procedures to reconcile any differences that may exist between the applicable MVC Source Documents or resulting recalculations described in the preceding paragraph(s) of this note.

------

 Exhibit 1 to Attachment A<br>Page 5 of 5

**<u>Notes</u>:** (continued)

ix.For the purpose of comparing the resort/project ID MVC Sample Characteristic for each MVC Sample Timeshare Loan, MORI:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Instructed us to ignore differences due to abbreviation or truncation and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Indicated that a resort/project ID value of "Aruba Ocean Club," as shown on the Sample Data File, corresponds to a resort/project ID value of "Marriott Vacation Club International of Aruba," as shown in the applicable MVC Source Document.

x.For the purpose of comparing the purchase price MVC Sample Characteristic for each MVC Sample Timeshare Loan, MORI instructed us to ignore differences of +/- $1.00 or less.

We performed no procedures to determine the accuracy, completeness or reasonableness of the instructions, assumptions and methodologies provided by MORI described in the notes above.

------

 Exhibit 2 to Attachment A<br>Page 1 of 2

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

---

| | | | |
|:---|:---|:---|:---|
| **WHV Sample**<br>**<u>Characteristic</u>**  | **Sample**<br>**<u>Data File Field Name</u>**  | **<u>WHV Source Document(s)</u>** | **<u>Note</u>** |
| Account number | Account Number | WHV Note | i. |
| Geographical location of the obligor | Geographical Location of the Obligor | WHV Agreement or WHV System Screen Shots | |
| Purchase price | Purchase Price | WHV Agreement | |
| Down payment | Down Payment | WHV Agreement and recalculation | ii. |
| Note Date | Note Date | WHV Note | |
| Original term to stated maturity | Original Term to Stated Maturity | WHV Note | |
| Original loan balance | Original Loan Balance | WHV Note | |
| Coupon rate | Coupon Rate | WHV Note or WHV System Screen Shots | |
| Monthly payment amount | Monthly Payment Amount | WHV Note or WHV System Screen Shots | iii. |
| Borrower credit score | Borrower Credit Score | WHV Borrower Credit Report | iv. |
| Co-borrower credit &nbsp;&nbsp;&nbsp;&nbsp; score | Co-borrower credit score | WHV Co-Borrower Credit Report | iv. |
| Current balance | Current Balance | WHV System Screen Shots | v. |
| Next payment due date | Next Payment Due &nbsp;&nbsp;&nbsp;&nbsp; Date | WHV System Screen Shots | v. |

---

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

i.For identification purposes only.

------

 Exhibit 2 to Attachment A<br>Page 2 of 2

**<u>Notes</u>:** (continued)

ii.For the purpose of comparing the down payment WHV Sample Characteristic for each WHV Sample Timeshare Loan (except for Sample Timeshare Loan Numbers 123, 125, 126, 127, 130, 131, 132, 136, 137, 138, 139, 140, 141 and 147), MORI instructed us to recalculate the down payment as the sum of the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Deposit toward the purchase price and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Additional deposit toward the purchase price,

both as shown in the WHV Agreement.

For the purpose of comparing the down payment WHV Sample Characteristic for Sample Timeshare Loan Numbers 123, 125, 126, 127, 130, 131, 132, 136, 137, 138, 139, 140, 141 and 147, MORI instructed us recalculate the down payment as the sum of the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Deposit toward the purchase price,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Additional deposit toward the purchase price and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Transfer of equity,

all as shown in the WHV Agreement.

iii.For the purpose of comparing the monthly payment amount WHV Sample Characteristic, MORI instructed us to ignore differences of +/-$0.01.

iv.MORI instructed us not to compare the indicated WHV Sample Characteristics for any WHV Sample Timeshare Loan with a corresponding value of , "0," "1" or "9," as shown on the Sample Data File.

Additionally, for the purpose of comparing the indicated WHV Sample Characteristics for each WHV Sample Timeshare Loan (except for the WHV Sample Timeshare Loans described in the preceding paragraph(s) of this note), MORI instructed us to note agreement if the corresponding value, as shown on the Sample Data File, agreed to at least one value, as shown in the corresponding WHV Source Document. We performed no procedures to reconcile any differences that may exist relating to the information shown in the WHV Source Documents.

v.MORI indicated that certain of the WHV System Screen Shots contained account activity that occurred after the Preliminary Cut-Off Date. For the purpose of comparing the indicated WHV Sample Characteristics for each WHV Sample Timeshare Loan, MORI instructed us to only consider account activity shown in the WHV System Screen Shots that occurred on or prior to the Preliminary Cut-Off Date.

We performed no procedures to determine the accuracy, completeness or reasonableness of the instructions, assumptions and methodologies provided by MORI described in the notes above.

------

 Exhibit 3 to Attachment A<br>Page 1 of 2

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

---

| | | | |
|:---|:---|:---|:---|
| **HVO Sample**<br>**<u>Characteristic</u>**<br>**<u>&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>**  | **Sample**<br>**<u>Data File Field Name</u>**<br>**<u>&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>**  | **<u>HVO Source Document(s)<br>&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;&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;&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;</u>** | **<u>Note</u>** |
| Loan ID | Loan ID | HVO System Screen Shots | i. |
| Current loan balance | Current Loan Balance | HVO System Screen Shots | ii. |
| Original loan balance | Original Loan Balance | HVO Note | |
| Coupon rate | Coupon Rate | HVO Note or HVO System Screen Shots | |
| Original term to maturity (months) | Original Term to Maturity (months) | HVO Note | |
| Monthly payment | Monthly Payment | HVO Note or HVO System Screen Shots | |
| Original maturity date (month/year) | Original Maturity Date (month/year) | HVO Note or HVO System Screen Shots | iii. |
| Country | Country | HVO Purchase Agreement | iv. |
| Sales price | Sales Price | HVO Purchase Agreement | |
| Down payment | Down Payment | (a)HVO Purchase Agreement and recalculation or<br>(b)HVO Closing Disclosure | v. |
| Credit score | Credit Score | HVO Credit Report | |

---

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

i.For identification purposes only.

ii.MORI indicated that certain of the HVO System Screen Shots contained account activity that occurred after the Preliminary Cut-Off Date. For the purpose of comparing the current loan balance HVO Sample Characteristic for each HVO Sample Timeshare Loan, MORI instructed us to only consider account activity shown in the HVO System Screen Shots that occurred on or prior to the Preliminary Cut-Off Date.

------

 Exhibit 3 to Attachment A<br>Page 2 of 2

**<u>Notes</u>:** (continued)

iii.For the purpose of comparing the original maturity date (month/year) HVO Sample Characteristic for each HVO Sample Timeshare Loan, MORI instructed us to note agreement if the month and year of the original maturity date, as shown on the Sample Data File, agreed with the month and year of the original maturity date, as shown in the applicable HVO Source Document.

iv.For the purpose of comparing the country HVO Sample Characteristic for each HVO Sample Timeshare Loan, MORI instructed us to note agreement with a country value of "United States," as shown on the Sample Data File, if the corresponding state value, as shown in the applicable HVO Source Document, is located in the United States, subject to the additional instruction(s) provided by MORI described in the succeeding paragraph(s) of this note.

For the purpose of this procedure, MORI instructed us to ignore differences due to abbreviation or truncation.

v.For the purpose of comparing the down payment HVO Sample Characteristic for each HVO Sample Timeshare Loan, MORI instructed us to recalculate the down payment by subtracting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.The closing costs from

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.The total deposits and closing costs due from purchaser,

both as shown in the applicable HVO Source Document.

We performed no procedures to determine the accuracy, completeness or reasonableness of the instructions, assumptions and methodologies provided by MORI described in the notes above.

------

 Exhibit 4 to Attachment A<br>Page 1 of 4

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

---

| | | | |
|:---|:---|:---|:---|
| **VSE Sample**<br>**<u>Characteristic</u>**  | **Sample**<br>**<u>Data File Field Name</u>**  | **<u>VSE Source Document(s)</u>** | **<u>Note</u>** |
| Loan ID | Loan ID | VSE System Screen Shots | i. |
| Current loan balance | Current Loan Balance | VSE System Screen Shots | ii. |
| Original loan balance | Original Loan Balance | VSE Note, VSE HUD-1 or VSE System Screen Shots |  |
| Coupon rate | Coupon Rate | (a)VSE Note or VSE HUD-1 or<br>(b)VSE Note and VSE System Screen Shots | iii. |
| Original term to maturity (months) | Original Term to Maturity (months) | (a)VSE Note, VSE System Screen Shots or VSE HUD-1 or<br>(b)(i) VSE Mortgage, VSE Note, VSE Truth in Lending Disclosure Statement, VSE System Screen Shots and/or VSE HUD-1 and (ii) Recalculation | iv. |
| Monthly payment | Monthly Payment | (a)VSE Note or VSE HUD-1 or<br>(b)VSE Note and VSE System Screen Shots | v. |
| Original maturity date (month/year) | Original Maturity Date (month/year) | (a)VSE Mortgage, VSE Note, VSE Truth in Lending Disclosure Statement or VSE System Screen Shots or<br>(b)(i) VSE Mortgage, VSE Note, VSE Truth in Lending Disclosure Statement, VSE System Screen Shots and/or VSE HUD-1 and (ii) recalculation | vi. |
| Country | Country | VSE Purchase Agreement, VSE HUD-1 or VSE System Screen Shots | vii. |
| Sales price | Sales Price | VSE Purchase Agreement, VSE HUD-1 or VSE System Screen Shots |  |

---

------

 Exhibit 4 to Attachment A<br>Page 2 of 4

---

| | | | |
|:---|:---|:---|:---|
| **VSE Sample**<br>**<u>Characteristic</u>**  | **Sample**<br>**<u>Data File Field Name</u>**  | **<u>VSE Source Document(s)</u>** | **<u>Note</u>** |
| Down payment | Down Payment | (a)VSE Purchase Agreement or VSE System Screen Shots or,<br>(b)VSE System Screen Shots and recalculation or<br>(c)(i) VSE Purchase Agreement and/or VSE Note and (ii) Recalculation | vii. |
| Credit score | Credit Score | VSE Credit Report | ix. |

---

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

i.For identification purposes only.

ii.MORI indicated that certain of the VSE System Screen Shots contained account activity that occurred after the Preliminary Cut-Off Date. For the purpose of comparing the current loan balance VSE Sample Characteristic for each VSE Sample Timeshare Loan, MORI instructed us to only consider account activity shown in the VSE System Screen Shots that occurred on or prior to the Preliminary Cut-Off Date.

iii.For the purpose of comparing the coupon rate VSE Sample Characteristic for each VSE Sample Timeshare Loan that has more than one coupon rate, as shown in the VSE Note, MORI instructed us to use the coupon rate, as shown in the VSE Note, corresponding to the coupon rate, as shown in the VSE System Screen Shots. We performed no procedures to reconcile any differences that may exist relating to the information in the VSE Note.

iv.For the purpose of comparing the original term to maturity (months) VSE Sample Characteristic for each VSE Sample Timeshare Loan that does not have the original term to maturity (months) specifically stated in the applicable VSE Source Document, MORI instructed us to recalculate the original term to maturity (months) as the difference in months between the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Original maturity date (month/year) and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.First payment date,

both as shown in the applicable VSE Source Document.

v.For the purpose of comparing the monthly payment VSE Sample Characteristic for each VSE Sample Timeshare Loan that has more than one monthly payment, as shown in the VSE Note, MORI instructed us to use the monthly payment, as shown in the VSE Note, corresponding to the monthly payment, as shown in the VSE System Screen Shots. We performed no procedures to reconcile any differences that may exist relating to the information in the VSE Note.

------

 Exhibit 4 to Attachment A<br>Page 3 of 4

**<u>Notes</u>:** (continued)

vi.For the purpose of comparing the original maturity date (month/year) VSE Sample Characteristic for each VSE Sample Timeshare Loan that does not have the original maturity date (month/year) specifically stated in the applicable VSE Source Document, MORI instructed us to recalculate the original maturity date (month/year) by adding:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.The result of subtracting:

&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)One month

from

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)The original term to maturity (months), as shown in the applicable VSE Source Document, or recalculated in accordance with any other applicable note(s),

to

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.The first payment date, as shown in the applicable VSE Source Document, subject to the additional instruction(s) provided by MORI described in the succeeding paragraph(s) of this note.

Additionally, for the purpose of comparing the original maturity date (month/year) VSE Sample Characteristic for each VSE Sample Timeshare, MORI instructed us to note agreement if the month and year of the original maturity date, as shown on the Sample Data File, agreed with the month and year of the original maturity date, as shown in the applicable VSE Source Document or as recalculated above.

vii.For the purpose of comparing the country VSE Sample Characteristic for each VSE Sample Timeshare Loan, MORI instructed us to note agreement with a country value of "United States," as shown on the Sample Data File, if the corresponding state value, as shown in the applicable VSE Source Document, is located in the United States, subject to the additional instruction(s) provided by MORI described in the succeeding paragraph(s) of this note.

For the purpose of this procedure, MORI instructed us to ignore differences due to abbreviation or truncation.

viii.For the purpose of comparing the down payment VSE Sample Characteristic for each VSE Sample Timeshare Loan, MORI instructed us to note agreement if the value on the Sample Data File agreed with either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.The corresponding information in the VSE Purchase Agreement or VSE System Screen Shots,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.The result of adding the down paymnt and other chgs incl., both as shown in the VSE System Screen Shots,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.The result of adding the total amount of down payment or deposits, all as shown in the VSE Purchase Agreement or VSE Note, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.The result of subtracting 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)Administrative fee, as shown in the VSE Purchase Agreement, from

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)Result obtained in c. above.

------

 Exhibit 4 to Attachment A<br>Page 4 of 4

**<u>Notes</u>:** (continued)

viii.(continued)

We performed no procedures to reconcile any differences that may exist between the applicable VSE Source Documents or resulting recalculations described in the preceding paragraph(s) of this note.

ix.MORI instructed us not to compare the credit score VSE Sample Characteristic for any VSE Sample Timeshare Loan with a credit score value of "0" or "999," as shown on the Sample Data File.

Additionally, for the purpose of comparing the credit score VSE Sample Characteristic for each VSE Sample Timeshare Loan (except for the VSE Sample Timeshare Loans described in the preceding paragraph(s) of this note), MORI instructed us to note agreement if the credit score value, as shown on the Sample Data File, agreed to at least one credit score, as shown in the VSE Credit Report. We performed no procedures to reconcile any differences that may exist relating to the information in the VSE Credit Report.

We performed no procedures to determine the accuracy, completeness or reasonableness of the instructions, assumptions and methodologies provided by MORI described in the notes above.

------

 Exhibit 5 to Attachment A<br>

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

---

| | | | |
|:---|:---|:---|:---|
| **Sample Timeshare**<br>**<u>Loan Number</u>**  | **MVC Sample**<br>**<u>Characteristic</u>**  | **Sample**<br>**<u>Data File Value</u>**  | **MVC Source**<br>**<u>Document Value</u>**  |
| 8 | Credit Score | 600 | 746 |
| 9 | Credit Score | 700 | 666 |
| 27 | Credit Score | 650 | 752 |
| 101 | Credit Score | 727 | 767 |
| 111 | Credit Score | 665 | 664 |

---

## Exhibit 99.2

**Exhibit 99.2**

![computersharelogo.jpg](computersharelogo.jpg)

March 22, 2023

MVW 2023-1 LLC

Marriott Ownership Resorts, Inc. delivered or caused to be delivered loan files to Computershare Trust Company, N.A., as custodian (the "Custodian") for loans intended for inclusion in a rated securitization transaction referred to as MVW 2023-1 LLC. Marriott Ownership Resorts, Inc. also delivered data for each loan with respect to the loan number, the original loan amount, the interest rate and the maturity date to the Custodian to be reviewed against the loan documents in the loan files. The Custodian loaded the data to a system of record and reviewed the document in each loan file against the data. As indicated below, discrepancies were found in such review:

---

| | | |
|:---|:---|:---|
| **Document Description** | **Exception Description** | **Exception Count** |
| No Findings | N/A | N/A |
|  | **Total** | **N/A** |

---

© 2023 Computershare. All rights reserved.

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