# EDGAR Filing Document

**Accession Number:** 0001542220
**File Stem:** 0001387131-23-000015
**Filing Date:** 2023-1
**Character Count:** 1004982
**Document Hash:** 79ff40cdaa42d21f3aacd9763046702d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001387131-23-000015.hdr.sgml**: 20230103

**ACCESSION NUMBER**: 0001387131-23-000015

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

**PUBLIC DOCUMENT COUNT**: 11

**CONFORMED PERIOD OF REPORT**: 20230103

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

**FILED AS OF DATE**: 20230103

**DATE AS OF CHANGE**: 20230103

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Commercial mortgages

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VCC Mortgage Securities, LLC
- **CENTRAL INDEX KEY:** 0001542220
- **IRS NUMBER:** 451144335
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-00608
- **FILM NUMBER:** 23501388

**BUSINESS ADDRESS:**
- **STREET 1:** 30699 RUSSELL RANCH ROAD
- **STREET 2:** SUITE 295
- **CITY:** WESTLAKE VILLAGE
- **STATE:** CA
- **ZIP:** 91362
- **BUSINESS PHONE:** 818-532-3700

**MAIL ADDRESS:**
- **STREET 1:** 30699 RUSSELL RANCH ROAD
- **STREET 2:** SUITE 295
- **CITY:** WESTLAKE VILLAGE
- **STATE:** CA
- **ZIP:** 91362
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VCC Mortgage Securities, LLC
- **CENTRAL INDEX KEY:** 0001542220
- **IRS NUMBER:** 451144335
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** 30699 RUSSELL RANCH ROAD
- **STREET 2:** SUITE 295
- **CITY:** WESTLAKE VILLAGE
- **STATE:** CA
- **ZIP:** 91362
- **BUSINESS PHONE:** 818-532-3700

**MAIL ADDRESS:**
- **STREET 1:** 30699 RUSSELL RANCH ROAD
- **STREET 2:** SUITE 295
- **CITY:** WESTLAKE VILLAGE
- **STATE:** CA
- **ZIP:** 91362
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VCC Mortgage Securities, LLC
- **CENTRAL INDEX KEY:** 0001542220
- **IRS NUMBER:** 451144335
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-00608

**BUSINESS ADDRESS:**
- **STREET 1:** 30699 RUSSELL RANCH ROAD
- **STREET 2:** SUITE 295
- **CITY:** WESTLAKE VILLAGE
- **STATE:** CA
- **ZIP:** 91362
- **BUSINESS PHONE:** 818-532-3700

**MAIL ADDRESS:**
- **STREET 1:** 30699 RUSSELL RANCH ROAD
- **STREET 2:** SUITE 295
- **CITY:** WESTLAKE VILLAGE
- **STATE:** CA
- **ZIP:** 91362

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549<br>FORM ABS-15G<br>ASSET-BACKED SECURITIZER<br> REPORT PURSUANT TO SECTION 15G OF<br> THE SECURITIES EXCHANGE ACT OF 1934**

**<u>VCC MORTGAGE SECURITIES, LLC</u>**

Check the appropriate box to indicate the filing obligation 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)(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 CPR 240.15Ga-2)

Central Index Key Number of depositor: 0001542220

<u>Velocity Commercial Capital Loan Trust 2023-1</u><br> (Exact name of issuing entity as specified in its charter)

Central Index Key Number of issuing entity (if applicable): _______________

Central Index Key Number of underwriter (if applicable): ________________

Jeff Taylor, (818) 532-3707

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

**PART I: REPRESENTATION AND WARRANTY INFORMATION**

Item 1.01 Initial Filing of Rule l5Ga-1 Representations and Warranties Disclosure

Not Applicable

Item 1.02 Periodic Filing of Rule l5Ga-1 Representations and Warranties Disclosure

Not Applicable

Item 1.03 Notice of Termination of Duty to File Reports under Rule l5Ga-1

Not Applicable

**PART II – 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.

EXHIBIT INDEX

---

| | |
|:---|:---|
| [99.01](ex99-01.htm) | AMC Diligence, LLC ("**AMC**") Executive Summary |
| [99.02](ex99-02.htm) | AMC Data Compare Report |
| [99.03](ex99-03.htm) | AMC GL Loan Level Exceptions Report |
| [99.04](ex99-04.htm) | AMC GL Exception Grades Report |
| [99.05](ex99-05.htm) | AMC NOO Loan Level Exceptions Report |
| [99.06](ex99-06.htm) | AMC NOO Exception Grades Report |
| [99.07](ex99-07.htm) | AMC Valuation Summary Report |
| [99.08](ex99-08.htm) | AMC Multi-Property Valuation Report |

---

**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.

VCC Mortgage Securities, LLC

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Depositor)

Date: January 3, 2023

 <u>/s/ Jeff Ttaylor</u> 

Name: Jeff Taylor

Title: Executive Vice President (senior officer in charge of securitization)

## Exhibit 99.01

[VCC 2023-1 ABS-15G](vcc-abs15g_010323.htm)

**Exhibit 99.01**

**EXECUTIVE SUMMARY**

**DESCRIPTION OF SERVICES**

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

AMC Diligence, LLC ("AMC") performed certain due diligence services described below on small balance commercial mortgage loans. The review was conducted on behalf of Velocity Commercial Capital, LLC ("Client" or "VCC") between June 2022 and December 2022 via files imaged and provided by Client (the "Review").

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

The Client requested that AMC perform a review, based upon the Guideline Review and Non-Owner Occupancy ("NOO") review scopes detailed in Section 5, on a total of six hundred ninety-five (695) unique mortgage loans (the "Review").

The Review totals, for mortgage loans within the final securitization population, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;**Property Type** | &nbsp;&nbsp;**Review Population** | | |
| <br>&nbsp;&nbsp;**Review** | &nbsp;&nbsp;**Property Type** | &nbsp;&nbsp;**Review Population** | &nbsp;&nbsp;**Pool**<br>&nbsp;&nbsp;**Population** | &nbsp;&nbsp;**%**<br>&nbsp;&nbsp;**Population** |
| &nbsp;&nbsp;Guideline Review | &nbsp;&nbsp;Small Bal CRE | &nbsp;&nbsp;126 | &nbsp;&nbsp;223 | &nbsp;&nbsp;56.50% |
| &nbsp;&nbsp;(Including Data Integrity) | &nbsp;&nbsp;Investor 1-4 Fam\* | &nbsp;&nbsp;262 | &nbsp;&nbsp;472 | &nbsp;&nbsp;55.51% |
| &nbsp;&nbsp;**Total Guideline Review** |  | &nbsp;&nbsp;**388** | &nbsp;&nbsp;**695** | &nbsp;&nbsp;**55.83%** |
| <br> \*All investor 1-4 Fam in the Guideline Review were also review for Non-Owner Occupancy ("NOO") | <br> \*All investor 1-4 Fam in the Guideline Review were also review for Non-Owner Occupancy ("NOO") | <br> \*All investor 1-4 Fam in the Guideline Review were also review for Non-Owner Occupancy ("NOO") | <br> \*All investor 1-4 Fam in the Guideline Review were also review for Non-Owner Occupancy ("NOO") | <br> \*All investor 1-4 Fam in the Guideline Review were also review for Non-Owner Occupancy ("NOO") |
|  | &nbsp;&nbsp;**Property Type** | &nbsp;&nbsp;**Review Population** | &nbsp;&nbsp;**Pool** | &nbsp;&nbsp;**%** |
| &nbsp;&nbsp;**Review** | &nbsp;&nbsp;**Property Type** | &nbsp;&nbsp;**Review Population** | &nbsp;&nbsp;**Population** | &nbsp;&nbsp;**Population** |
| &nbsp;&nbsp;Non-Owner Occupancy ("NOO") | &nbsp;&nbsp;Investor 1-4 Fam (not included in Guideline Review) | &nbsp;&nbsp;210 | &nbsp;&nbsp;472 | &nbsp;&nbsp;44.49% |
| &nbsp;&nbsp;**Total NOO Review** |  | &nbsp;&nbsp;**210** | &nbsp;&nbsp;**472** | &nbsp;&nbsp;**44.49%** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;**Property Type** | &nbsp;&nbsp;**Review Population** | | |
| <br>&nbsp;&nbsp;**Review** | &nbsp;&nbsp;**Property Type** | &nbsp;&nbsp;**Review Population** | &nbsp;&nbsp;**Pool**<br>&nbsp;&nbsp;**Population** | &nbsp;&nbsp;**%**<br>&nbsp;&nbsp;**Population** |
| &nbsp;&nbsp;Data Integrity Review | &nbsp;&nbsp;Small Bal CRE | &nbsp;&nbsp;126 | &nbsp;&nbsp;223 | &nbsp;&nbsp;56.50% |
|  | &nbsp;&nbsp;Investor 1-4 Fam | &nbsp;&nbsp;472 | &nbsp;&nbsp;472 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;**Total** Data Integrity Review |  | &nbsp;&nbsp;**598** | &nbsp;&nbsp;**695** | &nbsp;&nbsp;**86.04%** |

---

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

DBRS, Inc. ("DBRS") who is NRSRO providing a rating on the transaction at the time of this disclosure, does not have published guidelines for this asset class. The sample sizes utilized were communicated by the Client to AMC. AMC did not choose the size of the samples, but AMC did select loans for inclusion in a sample once a number of loans to be reviewed had been determined. DBRS is aware of the sample size covered during the Review.

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

AMC compared data fields on the bid tape provided by the Client to the data found in the actual mortgage loan file as captured by AMC. This comparison, when data was available (please note that not all fields were available for all Loans during the Review), involved forty-two (42) potential fields for the full Guideline Review and the Non-Owner Occupancy Review. The data fields are listed below.

1 \| P a g e

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Field** | &nbsp;&nbsp;**Loans With <br> Discrepancy** | &nbsp;&nbsp;**Total Times <br> Compared** | &nbsp;&nbsp;**% <br> Variance** | &nbsp;&nbsp;**# Of <br> Loans** |
| &nbsp;&nbsp;# of Units | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Amortization Term | &nbsp;&nbsp;51 | &nbsp;&nbsp;598 | &nbsp;&nbsp;8.53% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Amortization Type | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Appraised Value | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Borrower Full Name | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;City | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Contract Sales Price | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;DCR UW VCC | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;First Interest Rate Change Date | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;First Payment Change Date | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Index Type | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Interest Only | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Interest Rate Change Frequency | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Interest Rate Initial Cap | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Interest Rate Initial Maximum | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Interest Rate Initial Minimum | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Interest Rate Life Cap | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Interest Rate Life Max | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Interest Rate Life Min | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Interest Rate Periodic Cap | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Investment Property Type | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Lien Position | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;LTV Valuation Value | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Margin | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Maturity Date | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Mod | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Next Interest Rate Change Date | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Note Date | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Occupancy | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Original Interest Rate | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Original Loan Amount | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Original LTV | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Original P&I | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Original Term | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Prepayment Penalty Period (months) | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Prepayment Terms | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |

---

2 \| P a g e

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Purpose | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Refi Purpose | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Representative FICO | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;State | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Street | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;Zip | &nbsp;&nbsp;0 | &nbsp;&nbsp;598 | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;598 |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**51** | &nbsp;&nbsp;**25116** | &nbsp;&nbsp;**0.20%** | &nbsp;&nbsp;**25116** |

---

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

The Review covered the: (i) Guideline Review, (ii) and Non-Owner Occupancy Review. As a subset of the Guideline Review, AMC conducted a Valuation Review and Data Integrity Review. The details of each scope of review are covered below for the Guideline Review and the Non-Owner Occupancy Review, Section 6 for the Valuation Review and Section 8 for the Data Integrity Review.

**<u>Guideline Review</u>**

Documents reviewed include the following items (\* = where applicable):

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Note | &nbsp;&nbsp;Business License\* | &nbsp;&nbsp;Flood certificates |
| &nbsp;&nbsp;Guaranty Agreement(s)\* | &nbsp;&nbsp;Business P&L's\* | &nbsp;&nbsp;Purchase agreement(s)\* |
| &nbsp;&nbsp;Deed of Trust / Mortgage | &nbsp;&nbsp;Verification of down payment funds/ funds to close / reserve funds\* | &nbsp;&nbsp;Final HUD-1 |
| &nbsp;&nbsp;Non-Owner-Occupancy & Business – Purpose Letter of Intent (LOI) / Letter of Explanation (LOE) | &nbsp;&nbsp;Appraisal Report | &nbsp;&nbsp;Title Search Documentation |
| &nbsp;&nbsp;Final Form 1003 / Loan Application(s) | &nbsp;&nbsp;Broker Price Opinion and market rent addendum\* | &nbsp;&nbsp;Evidence of Hazard / Liability / Flood Insurance coverage |
| &nbsp;&nbsp;VCC Credit Report(s) | &nbsp;&nbsp;Appraisal Review documentation\* | &nbsp;&nbsp;Second mortgage documentation\* |
| &nbsp;&nbsp;Verification of Rent / Mortgage (VOR/VOM) payment history\* | &nbsp;&nbsp;Existing Leases\* | &nbsp;&nbsp;Certification(s) of Business purpose of loan |
| &nbsp;&nbsp;Identification / proof of residency status | &nbsp;&nbsp;Rent Roll\* | &nbsp;&nbsp;Certification(s) of Non-Owner Occupancy and Indemnity\* |
| &nbsp;&nbsp;Background check | &nbsp;&nbsp;Environmental reports |  |

---

Each loan was reviewed for adherence to the most recent VCC Master Credit Policy ("MCP") revision that is dated prior to the loan approval date as indicated on the Final Loan Approval Worksheet for the loan being reviewed.

For this review, the procedures included:

■ Reviewing
 the provided Note, Mortgage/DOT, and Guaranty Agreement(s) to confirm execution, adherence
 to the MCP, and agreement with other Loan Approval documentation.

■ Examining
 appraisal reports, BPO's, and appraisal reviews to determine if the property type
 is consistent with underwritten property type and usage (such as evidence/an indication
 of either owner or tenant occupancy) and comparing this information against other relevant
 information contained within applicable sections of the loan file to evaluate consistency,
 accuracy, and adheres to the MCP.

■ Reviewing
 environmental reporting, Flood Certification, and Evidence of Insurance to confirm accuracy
 and adherence to MCP requirements.

■ Reviewing
 credit reporting, VOR/VOM, Background Check(s), and any applicable Letter(s) of Explanation
 to confirm accuracy, adherence to VCC MCP requirements, and consistency with the Final
 Loan Approval worksheet.

■ Reviewing
 HUD-1's, Title Search, Purchase Agreements, existing leases/rent rolls, and verification
 of funds with loan terms, and underwritten approved terms and amounts/LTV/LTC as well
 as adherence to MCP requirements.

3 \| P a g e

■ Reviewing
 LOI/LOE(s) for presence of un-qualified statement of business and occupancy intent, confirmation
 that the LOI/LOI cited address is consistent with the subject property address, and that
 signatory(s) are consistent with the identified borrower(s)/guarantor(s).

■ Reviewing
 Final Form 1003/Loan application to ensure complete execution that the subject property
 listed is consistent with the subject property, and that the listed residence for the
 Individual(s) is an address other than the subject property.

■ Confirming,
 if applicable, business license(s) and P&L's are present, valid, and adheres
 to MCP requirements.

■ Confirming,
 if applicable, second mortgage documents are present, valid, align with approved terms
 amounts, and adhere to MCP requirements.

■ Reviewing
 final loan approval worksheets for accuracy, completion, documentation of approval for
 any exceptions, and evaluating such items for agreement/consistency with all other documentation
 contained in the review file.

■ Reviewing
 the Certification of Business Purpose and Certification of Non-Owner Occupancy and Indemnity
 for presence of a completed fields, and verifying that that the hand written Primary
 Residence address differs from the subject property address, and is signed/dated as required.

■ Verifying
 presence of a complete Certification of Non-Owner Occupancy and Indemnity document for
 each individual borrower/co-borrower/guarantor identified within the subject note/guaranty
 agreement, including the presence of either individual certifications or one certificate
 containing all required signatures.

■ Comparing
 the Primary Residence address(es) listed for consistency between the Final Form 1003/Loan
 application(s) and the Certification(s) of Non-Owner Occupancy and Indemnity.

■ Documenting
 any non-approved MCP exceptions and/or inconsistencies and reporting and/or marking such
 items for further dialogue.

**<u>Non-Owner Occupancy Review</u>**

Documents reviewed include the following items (\* = where applicable):

---

| | |
|:---|:---|
| &nbsp;&nbsp;Note | &nbsp;&nbsp;Final Form 1003 / Loan Application(s) |
| &nbsp;&nbsp;Guaranty Agreement(s)\* | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;Non-Owner-Occupancy & Business – Purpose Letter of Intent (LOI) / Letter of Explanation (LOE)\* | &nbsp;&nbsp;Certification(s) of Non-Owner Occupancy and Indemnity\* |

---

For this review, the procedures included:

■ Reviewing
 the provided Note and Guaranty Agreement(s) to determine the identity and quantity of
 individuals serving as either Borrower, Co-borrower, or Guarantor, as well as to confirm
 whether the borrower and/or co-borrower is a legal business entity (LLC, INC, Corporation,
 Partnership) or an Individual(s).

■ Reviewing
 appraisal reports to determine if the property type is consistent with the underwritten
 property type, and evaluating the reports for evidence/indication of either owner or
 tenant occupancy.

■ For
 loans made to Individual borrowers, reviewing the LOI/LOE for the presence of an un-qualified
 statement of intent not to occupy the property, affirmation that the LOI/LOI cited address
 is consistent with the subject property address, and that signator(s) are consistent
 with the identified of the borrower(s)/guarantor(s). For loans made to Business Entity
 borrowers, the LOI/LOE is not a required document and loan file will not be cited if
 missing.

■ Reviewing
 the Final Form 1003/Loan application to ensure that the subject property listed is consistent
 with the subject property for the loan, and that the listed residence for the Individual(s)
 is an address other than the subject property.

■ For
 loans made to Individual borrowers, reviewing the Certification of Non-Owner Occupancy
 and Indemnity for the presence of a completed Primary Residence address including a verification
 that that the hand written Primary Residence address differs from the subject property
 address, and is signed/dated as required. For loans made to Business Entity borrowers,
 the Certification of Non-Owner Occupancy and Indemnity is not a required document and
 loan file will not be cited if missing.

■ For
 loans made to Individual borrowers, verifying the presence of a complete Certification
 of Non-Owner Occupancy and Indemnity document for each individual borrower/co-borrower/guarantor
 identified within the subject note/guaranty agreement, including whether individual certifications
 or one certificate containing all required signatures is present. For loans made to Business
 Entity borrowers, the Certification of Non-Owner Occupancy and Indemnity is not a required
 document and loan file will not be cited if missing.

■ Confirming
 that the Primary Residence address(es) listed are compared for consistency between the
 Final Form 1003/Loan application(s) and the Certification(s) of Non-Owner Occupancy and
 Indemnity.

■ Documenting
 any exceptions and/or inconsistencies and reporting and/or marking such items for further
 dialogue.

4 \| P a g e

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

At the direction of the Client, AMC conducted a valuation review utilizing various values and methodologies as further detailed in Item 5 below. In total, for the entire original population, Client ordered secondary valuation products on two hundred sixty-two (262) mortgage loans. Once these valuations were received, AMC compared these values versus the origination appraisal. If a variance between the origination appraisal / LTV value and the secondary valuation was greater than 10%, an adverse event level was placed on the loan.

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

AMC did not review residential mortgage compliance on any loans within the securitization.

**(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.

In addition to the procedures under Section 5 and 6 above, AMC conducted the following supplemental reviews:

**<u>Data Integrity Review</u>**

For the loans in the Guideline Review population, Non-Owner Occupancy Review and additional population, data points were reviewed between the data tape and the data collected by AMC.

**(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, 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.

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

5 \| P a g e

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 AND CONCLUSIONS OF REVIEW** 

The NRSRO criteria referenced for this report and utilized for grading descriptions is based upon the NRSROs listed in Item 3 above.

There can be no assurance that the Review uncovered all relevant factors relating to the origination of the mortgage loans, their compliance with applicable law and regulation and the original appraisals relating of the mortgaged properties or uncovered all relevant factors that could affect the future performance of the mortgage loans. Furthermore, the findings reached by AMC are dependent upon its receiving complete and accurate data regarding the loans from loan originators and other third parties upon which AMC is relying in reaching such findings.

Please be further advised that AMC does not employ personnel who are licensed to practice law in the various jurisdictions, and the findings set forth in the reports prepared by AMC do not constitute legal advice or opinions. They are recommendations or conclusions based on information provided to AMC. All final decisions as to whether to purchase or enter into a transaction related to any individual loan or the 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 loan or loans, shall be made solely by the Client, or other agreed upon party, that has engaged AMC to prepare its reports pursuant to its instructions and guidelines. Client, or other agreed upon party, acknowledges and agrees that the scoring models applied by AMC 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. AMC does not make any representation or warranty as to the value of any mortgage loan or loan collateral that has been reviewed by AMC.

**CREDIT REVIEW RESULTS**

**Guideline Review Credit Results:**

All three hundred eighty-eight (388) mortgage loans reviewed by AMC have a Credit grade of "B" or higher and 22.68% of the mortgage loans by number have a Credit grade of "A." The "B" grades correspond to three hundred (300) mortgages loans where the lender issued a guideline exception/waiver. There is a total of six hundred twenty-one (621) waived credit exceptions affecting those three hundred (300) mortgages loans. Some mortgage loans received multiple waivers.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Guideline Review Credit Loan Grades** | &nbsp;&nbsp;**Guideline Review Credit Loan Grades** | &nbsp;&nbsp;**Guideline Review Credit Loan Grades** |
| &nbsp;&nbsp;**Final Loan Grade** | &nbsp;&nbsp;**# of Loans** | &nbsp;&nbsp; **% of Loans** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;88 | &nbsp;&nbsp;22.68% |
| &nbsp;&nbsp;B | &nbsp;&nbsp;300 | &nbsp;&nbsp;77.32% |
| &nbsp;&nbsp;C | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;D | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**388** | &nbsp;&nbsp;**100.00%** |

---

**Non-Owner Occupancy Review Credit Results**

All two hundred ten (210) mortgage loans reviewed by AMC have a Credit grade of "B" or higher and 99.05% of the mortgage loans by number have a Credit grade of "A." The "B" grades correspond to two (2) mortgage loans where the lender issued a guideline exception/waiver. There is a total of two (2) waived exception affecting the two (2) mortgage loan. No mortgage loans received multiple waivers.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Non-Owner Occupancy Credit Loan Grades** | &nbsp;&nbsp;**Non-Owner Occupancy Credit Loan Grades** | &nbsp;&nbsp;**Non-Owner Occupancy Credit Loan Grades** |
| &nbsp;&nbsp;**Final Loan Grade** | &nbsp;&nbsp;**# of Loans** | &nbsp;&nbsp; **% of Loans** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;208 | &nbsp;&nbsp;99.05% |
| &nbsp;&nbsp;B | &nbsp;&nbsp;2 | &nbsp;&nbsp;0.95% |
| &nbsp;&nbsp;C | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;D | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**210** | &nbsp;&nbsp;**100.00%** |

---

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**VALUATION REVIEW RESULTS**

The valuation review was bi-furcated based upon the underlying property bucket (residential or commercial). All commercial mortgage loans received an "A" NRSRO valuation grade and per the scope of the review, no secondary valuation product was separately ordered by AMC during the review. The Client ordered a secondary valuation product on two hundred forty-eight (248) residential mortgage loans. Zero (0) mortgage loan had a value more than 10% below Origination Value or a secondary valuation was not received.

**Guideline Review Valuation Results:**

Three hundred eighty-seven (387) of the mortgage loans received a Property grade "A". One (1) mortgage loan received a Property grade "D".

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Guideline Review Valuation Loan Grades** | &nbsp;&nbsp;**Guideline Review Valuation Loan Grades** | &nbsp;&nbsp;**Guideline Review Valuation Loan Grades** |
| &nbsp;&nbsp;**Final Loan Grade** | &nbsp;&nbsp;**# of Loans** | &nbsp;&nbsp; **% of Loans** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;387 | &nbsp;&nbsp;99.74% |
| &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;1 | &nbsp;&nbsp;0.26% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**388** | &nbsp;&nbsp;**100.00%** |

---

**OVERALL RESULTS SUMMARY** 

**Guideline Review Overall Results:**

After giving consideration to the grading implications of the Credit and Property/Valuation sections above, three hundred eighty-seven (387) mortgage loans reviewed by AMC in the Full Guideline Review scope have an Overall grade of "B" or higher, 22.68% of the mortgage loans by number have an Overall grade of "A" and 0.26% of the mortgage loan(s) have an Overall grade of "D"

The table below summarizes the Overall grade based on the Credit and Property Valuation sections above:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Guideline Review Overall Loan Grades** | &nbsp;&nbsp;**Guideline Review Overall Loan Grades** | &nbsp;&nbsp;**Guideline Review Overall Loan Grades** |
| &nbsp;&nbsp;**Final Loan Grade** | &nbsp;&nbsp;**# of Loans** | &nbsp;&nbsp; **% of Loans** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;88 | &nbsp;&nbsp;22.68% |
| &nbsp;&nbsp;B | &nbsp;&nbsp;299 | &nbsp;&nbsp;77.06% |
| &nbsp;&nbsp;C | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;D | &nbsp;&nbsp;1 | &nbsp;&nbsp;0.26% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**388** | &nbsp;&nbsp;**100.00%** |

---

**Non-Owner Occupancy Review Overall Results:**

After giving consideration to the grading implications of the Credit and Property/Valuation sections above, all two hundred ten (210) mortgage loans reviewed by AMC have an Overall grade of "B" or higher and 99.05% of the mortgage loans by number have an Overall grade of "A."

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Non-Owner Occupancy Overall Loan Grades** | &nbsp;&nbsp;**Non-Owner Occupancy Overall Loan Grades** | &nbsp;&nbsp;**Non-Owner Occupancy Overall Loan Grades** |
| &nbsp;&nbsp;**Final Loan Grade** | &nbsp;&nbsp;**# of Loans** | &nbsp;&nbsp; **% of Loans** |
| &nbsp;&nbsp;A | &nbsp;&nbsp;208 | &nbsp;&nbsp;99.05% |
| &nbsp;&nbsp;B | &nbsp;&nbsp;2 | &nbsp;&nbsp;0.95% |
| &nbsp;&nbsp;C | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;D | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**210** | &nbsp;&nbsp;**100.00%** |

---

**ADDITIONAL MORTGAGE LOAN POPULATION SUMMARY***\**

ALL ITEMS ARE RELEVANT FOR THE THREE HUNDRED EIGHTY-EIGHT (388) LOANS IN THE GUIDELINE REVIEW THAT ARE PART OF THE SECURITIZATION POPULATION.

*\*Percentages may not sum to 100% due to rounding.*

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---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Amortization Type** | &nbsp;&nbsp;**Loan <br> Count** | &nbsp;&nbsp;**% of <br> Loans** | &nbsp;&nbsp;**Original <br> Balance** | &nbsp;&nbsp;**% of <br> Balance** |
| &nbsp;&nbsp;Fixed | &nbsp;&nbsp;388 | &nbsp;&nbsp;100.00% | &nbsp;&nbsp;$138459246.00 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**388** | &nbsp;&nbsp;**100.00%** | &nbsp;&nbsp;**$138459246.00** | &nbsp;&nbsp;**100.00%** |
| &nbsp;&nbsp;**Lien Position** | &nbsp;&nbsp;**Loan <br> Count** | &nbsp;&nbsp;**% of <br> Loans** | &nbsp;&nbsp;**Original <br> Balance** | &nbsp;&nbsp;**% of <br> Balance** |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;388 | &nbsp;&nbsp;100.00% | &nbsp;&nbsp;$138459246.00 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**388** | &nbsp;&nbsp;**100.00%** | &nbsp;&nbsp;**$138459246.00** | &nbsp;&nbsp;**100.00%** |
| &nbsp;&nbsp;**Loan Purpose** | &nbsp;&nbsp;**Loan <br> Count** | &nbsp;&nbsp;**% of <br> Loans** | &nbsp;&nbsp;**Original <br> Balance** | &nbsp;&nbsp;**% of <br> Balance** |
| &nbsp;&nbsp;Cash Out: Other/Multi-purpose/Unknown Purpose | &nbsp;&nbsp;251 | &nbsp;&nbsp;64.69% | &nbsp;&nbsp;$86531238.00 | &nbsp;&nbsp;62.50% |
| &nbsp;&nbsp;Other-than-first-time Home Purchase | &nbsp;&nbsp;137 | &nbsp;&nbsp;35.31% | &nbsp;&nbsp;$51928008.00 | &nbsp;&nbsp;37.50% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**388** | &nbsp;&nbsp;**100.00%** | &nbsp;&nbsp;**$138459246.00** | &nbsp;&nbsp;**100.00%** |
| &nbsp;&nbsp;**Original Term** | &nbsp;&nbsp;**Loan <br> Count** | &nbsp;&nbsp;**% of <br> Loans** | &nbsp;&nbsp;**Original <br> Balance** | &nbsp;&nbsp;**% of <br> Balance** |
| &nbsp;&nbsp;241-360 Months | &nbsp;&nbsp;388 | &nbsp;&nbsp;100.00% | &nbsp;&nbsp;$138459246.00 | &nbsp;&nbsp;100.00% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**388** | &nbsp;&nbsp;**100.00%** | &nbsp;&nbsp;**$138459246.00** | &nbsp;&nbsp;**100.00%** |

---

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## Exhibit 99.02

[VCC 2023-1 ABS-15G](vcc-abs15g_010323.htm)

**Exhibit 99.02**

![](situs_logo.jpg)

**Data Compare (Non-Ignored)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **AMC Loan ID** | **Customer Loan ID** | **Seller Loan ID** | **Servicer Loan ID** | **Edgar ID** | **Investor Loan Number** | **Field Label** | **Bid Tape Field Value** | **Field Value** |
| XXXX | XXXX |  |  | 1000019 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000023 |  | Amortization Term | 300 | 360 |
| XXXX | XXXX |  |  | 1000033 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000037 |  | Amortization Term | 300 | 360 |
| XXXX | XXXX |  |  | 1000042 |  | Amortization Term | 300 | 360 |
| XXXX | XXXX |  |  | 1000092 |  | Amortization Term | 300 | 360 |
| XXXX | XXXX |  |  | 1000096 |  | Amortization Term | 300 | 360 |
| XXXX | XXXX |  |  | 1000059 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000234 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000239 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000283 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000131 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000138 |  | Amortization Term | 324 | 360 |
| XXXX | XXXX |  |  | 1000170 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000203 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000332 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000355 |  | Amortization Term | 348 | 360 |
| XXXX | XXXX |  |  | 1000285 |  | Amortization Term | 300 | 360 |
| XXXX | XXXX |  |  | 1000305 |  | Amortization Term | 300 | 360 |
| XXXX | XXXX |  |  | 1000370 |  | Amortization Term | 300 | 360 |
| XXXX | XXXX |  |  | 1000391 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000690 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000692 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000418 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000419 |  | Amortization Term | 300 | 360 |
| XXXX | XXXX |  |  | 1000420 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000437 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000499 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000500 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000501 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000510 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000514 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000517 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000520 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000522 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000524 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000525 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000527 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000531 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000448 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000450 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000451 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000453 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000460 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000470 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000479 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000480 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000486 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000488 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000498 |  | Amortization Term | 240 | 360 |
| XXXX | XXXX |  |  | 1000572 |  | Amortization Term | 348 | 360 |

---

## Exhibit 99.03

[VCC 2023-1 ABS-15G](vcc-abs15g_010323.htm)

**Exhibit 99.03**

![](situs_logo.jpg)

**Loan Level Exception - Disposition**

---

| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | **FINAL COMPLIANCE LOAN GRADES** | **FINAL COMPLIANCE LOAN GRADES** | **FINAL COMPLIANCE LOAN GRADES** | **FINAL COMPLIANCE LOAN GRADES** | **FINAL COMPLIANCE LOAN GRADES** |
| **AMC Loan ID** | **Customer Loan ID** | **Seller Loan ID** | **Edgar Loan ID** | **Original Loan Amount** | **Note Date** | **Purpose** | **QM Status** | **Overall Grade** | **Credit Grade** | **Credit Exceptions** | **Credit Exception Information** | **Credit Exception Comments** | **Property Grade** | **Property Exceptions** | **Property Exception Information** | **Property Exception Comments** | **Compliance Grade** | **Compliance Exceptions** | **Compliance Exception Information** | **Compliance Exception Comments** | **Compliance Comp Factors** | **Compensating Factors** | **DBRS** | **Fitch** | **Kroll** | **Moody's** | **S&P** |
| XXXX | XXXX |  | 1000678 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - FICO below 650<br> [2] General - Insufficient Hazard Insurance<br> [2] Application / Processing - Missing Document: Approval not provided | Approved exception at origination for FICO < 650. Comp Factor: Low LTV.<br> 1) Missing Rent loss coverage and 2) Coverage less than loan amount or costs new from appraisal. Insurance estimated in file is for personal property replacement and not the dwelling.<br> Approved exception at origination for First Time Homebuyer. Comp Factor: Low LTV. | REVIEWER - WAIVED COMMENT (2022-06-26): Approved exception at origination for FICO < 650. Comp Factor: Low LTV.<br> BUYER - GENERAL COMMENT (2022-12-21): 1. Exception written for Loss of Rents<br> 2. HOA Policy with full building coverage (to include walls in) and Borrower policy<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for loss of use coverage. Comp factor, LTV. Item #2 cleared.<br> REVIEWER - WAIVED COMMENT (2022-06-26): Approved exception at origination for First Time Homebuyer. Comp Factor: Low LTV. | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000676 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Loan File - Missing Document: Hazard Insurance Policy not provided | Waiver of insurance impounds is not documented as an approved exception. | BUYER - GENERAL COMMENT (2022-07-14): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-07-14): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds. comp Factor: Seasoned investor, | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000677 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Eligibility - Guideline Issue: Derogatory mortgage payments outside of credit guidelines<br> [2] General - Property has been listed for sale in the past 12 months. | Approved exception at origination for FICO < 650. Comp factor, Seasoned Investor, Strong Reserves.<br> Credit report reflects 1x 30 day mtg late within 90 days.<br> Per appraisal, Subject has been listed for sale within 6 mos. Missing expired or cancelled listing agreement as required per MCP 6.6 | REVIEWER - WAIVED COMMENT (2022-07-19): Approved exception at origination for FICO < 650. Comp factor, Seasoned Investor, Strong Reserves.<br> BUYER - GENERAL COMMENT (2022-08-04): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-08-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for 1x 30 day mtg late within 90 days.. comp Factor: Reserves<br> BUYER - GENERAL COMMENT (2022-08-04): Exception noted on uplaoded approval<br> REVIEWER - WAIVED COMMENT (2022-08-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing cancelled listing agreement. comp Factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000000 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Approved exception at origination for missing loss of business income/rents coverage. Comp Factor - Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-09-13): Approved exception at origination for missing loss of business income/rents coverage. Comp Factor - Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000001 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - LTV does not meet guidelines | Approved exception at origination for LTV > 70% for investor office purchase. Comp Factors - Seasoned Investor | REVIEWER - WAIVED COMMENT (2022-09-13): Approved exception at origination for LTV > 70% for investor office purchase. Comp Factors - Seasoned Investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000002 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] AUS Discrepancy / Guidelines Discrepancy - Guideline Issue: Ineligible borrower<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for First Time Investor with LTV > 70% on investor mixed use purchase. Comp Factors - FICO<br> Approved exception at origination for incomplete VOR-primary. Comp Factor - FICO. | REVIEWER - WAIVED COMMENT (2022-09-12): Approved exception at origination for First Time Investor with LTV > 70% on investor mixed use purchase. Comp Factors - FICO<br> REVIEWER - WAIVED COMMENT (2022-09-12): Approved exception at origination for incomplete VOR-primary pay history; missing x/xx and x/xx pmts . Comp Factor - FICO. | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000003 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] Application / Processing - Missing Document: Non-Owner Occupancy Declaration not provided | 1 of 2 borrowers has only 1 active major tradelines on credit report.<br> Missing 1) Missing owner occ. BP Cert for subject mixed use property occupied by 1 borrowers as primary residence, 2) Certificate of occupancy and indemnity for borrower that does not occupy subject property. | SELLER - GENERAL COMMENT (2022-09-13): uploaded<br> REVIEWER - WAIVED COMMENT (2022-09-13): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for < 2 active major tradelines. comp Factor: Seasoned investor<br> BUYER - GENERAL COMMENT (2022-09-13): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-09-13): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Bus Purpose Cert and Cert of occ & indemnity for subject owner occupied mixed use property. comp Factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000004 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000005 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000006 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - The property is ineligible. | Approved exception at origination for state exclusion override for subject traditional II property located in MI. Comp. Factors: LTV, Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-09-19): Approved exception at origination for state exclusion override for subject traditional II property located in MI. Comp. Factors: LTV, Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000007 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - LTV does not meet guidelines<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for LTV > 65% for owner user XXXX purchase. comp factor: reserves, FICO, Seasoned business<br> approved exception at origination for missing VOR-primary; borrower lives rent free. comp factor: reserves, FICO, Seasoned business | REVIEWER - WAIVED COMMENT (2022-09-19): Approved exception at origination for LTV > 65% for owner user auto service purchase. comp factor: reserves, FICO, Seasoned business<br> REVIEWER - WAIVED COMMENT (2022-09-19): approved exception at origination for missing VOR-primary; borrower lives rent free. comp factor: reserves, FICO, Seasoned business | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000008 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Flood insurance<br> [2] General - Insufficient Hazard Insurance | Flood coverage capped at $200k. an approved exception is not documented<br> Unable to determine comp. factor for approved exception for missing Law & ordinance coverage. Status is unmitigated | BUYER - GENERAL COMMENT (2022-10-03): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-03): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Flood coverage capped at $200k. comp Factor: FICO<br> BUYER - GENERAL COMMENT (2022-10-03): Corrected on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-03): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage. comp Factor: FICO<br> REVIEWER - GENERAL COMMENT (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor. | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000009 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Application / Processing - Missing Document: Approval not provided | Approved exception at origination for First Time Investor with LTV > 65% for owner user retail purchase. Comp Factor - Reserves.<br> .. | REVIEWER - WAIVED COMMENT (2022-09-28): Approved exception at origination for First Time Investor with LTV > 65% for owner user retail purchase. Comp Factor - Reserves. . | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000010 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - LTV does not meet guidelines<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | only 1x active major tradeline on credit report for both co-borrowers.<br> Approved exception at origination for LTV >75% on owner user mixed use purchase. Comp Factor - Seasoned Investor.<br> Approved exception at origination for missing required 12 mos pay history for VOM-primary. Comp Factor - Seasoned Investor. | BUYER - GENERAL COMMENT (2022-09-21): Exception written for limited major tradelines<br> REVIEWER - WAIVED COMMENT (2022-09-23): Exception waived. Updated approval received in trailing documents approving exception for limited number of major tradelines. Comp factor, reserves.<br> REVIEWER - WAIVED COMMENT (2022-09-19): Approved exception at origination for LTV >75% on owner user mixed use purchase. Comp Factor - Seasoned Investor.<br> REVIEWER - GENERAL COMMENT (2022-09-19): Approved exception at origination for missing required 12 mos pay history for VOM-primary. Comp Factor - Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000011 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Application / Processing - Missing Document: Proof of Residency Status not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Missing Visa/green card for both foreign national guarantors. Only foreign passport provided; however, applications list US address as primary residence.<br> Missing proof of primary for 1 of 2 guarantors. Utility bill in file reflects only 1 name. | BUYER - GENERAL COMMENT (2022-09-22): Exception written for use of Passports<br> REVIEWER - WAIVED COMMENT (2022-09-23): Exception waived. Updated approval received in trailing documents approving exception for Green Card. Comp factor, LTV.<br> BUYER - GENERAL COMMENT (2022-09-22): Exception noted for no VOR on uploaded approval, Borrowers reside at the same residence and have sufficient tradelines and proof of US investments via US Credit report.<br> REVIEWER - WAIVED COMMENT (2022-09-23): Exception waived. Updated approval received in trailing documents approving exception for missing VOR. Comp factor, LTV. | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000012 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] AUS Discrepancy / Guidelines Discrepancy - Guideline Issue: Ineligible borrower<br> [2] General - LTV does not meet guidelines | Approved exception at origination for first time investor with LTV> 70% on investor office purchase. Compensating factor: reserves.<br> Approved exception at origination for LTV > 70% for investor office purchase by FT investor. Compensating factor: reserves. | REVIEWER - WAIVED COMMENT (2022-09-19): Approved exception at origination for first time investor with LTV> 70% on investor office purchase. Compensating factor: reserves.<br> REVIEWER - WAIVED COMMENT (2022-09-19): Approved exception at origination for LTV > 70% for investor office purchase by FT investor. Compensating factor: reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000013 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Ineligible property<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | no active major tradelines on credit report.<br> Approved exception at origination for State Exclusion Override for mixed use property type located in IL. Comp Factor - Low LTV.<br> missing VOR-primary; borrower lives rent free. an approved exception is not documented. | BUYER - GENERAL COMMENT (2022-09-22): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-09-23): Exception waived./ Updated approval received in trailing documents approving exception for limited number of major tradelines. Comp factor, seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-09-19): Approved exception at origination for State Exclusion Override for mixed use property type located in IL. Comp Factor - Low LTV.<br> BUYER - GENERAL COMMENT (2022-09-22): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-09-23): Exception waived. Updated approval received in trailing documents approving exception for missing VOR. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000014 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Debt service ratio issue | Approved exception at origination for DSCR < 1.25x on trad 2 loan with balance > $500k. comp factor: seasoned investor | REVIEWER - WAIVED COMMENT (2022-09-19): Approved exception at origination for DSCR < 1.25x on trad 2 loan with balance > $500k. comp factor: seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000015 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] Credit Eligibility - Guideline Issue: Derogatory mortgage payments outside of credit guidelines<br> [2] Credit Documentation - Missing Document: Credit Report not provided<br> [2] General - Missing Document: Lease Agreement not provided | Approved exception at origination for < guideline min of 1.0x for owner user traditional 2 property with loan with note > $500k Comp factor: seasoned investor, Seasoned business, and LTV<br> Approved exceptions at origination for 1x90 and multiple 60 & 30 late on subject within 12 mos and Rolling 60 day within 90 on primary. Comp factor: Seasoned business, and LTV<br> Approved exception at origination for Credit report aged > 60 days. Comp factor: seasoned investor, Seasoned business, and LTV<br> Approved exception at origination for missing leases. Comp factor: seasoned investor, Seasoned business, and LTV | REVIEWER - WAIVED COMMENT (2022-09-19): approved exception at origination for < guideline min of 1.0x for owner user traditional 2 property with loan with note > $500k comp factor: seasoned investor, Seasoned business, LTV<br> REVIEWER - WAIVED COMMENT (2022-09-19): approved exceptions at origination for 1x90 and multiple 60 & 30 dat lates on subject within 12 mos and Rolling 60 day within 90 on primary. comp factor: Seasoned business, LTV<br> REVIEWER - GENERAL COMMENT (2022-09-19): approved exception at origination for Credit report aged > 60 days. (expiredx/x per approval). comp factor: seasoned investor, Seasoned business, LTV<br> REVIEWER - WAIVED COMMENT (2022-09-19): approved exception at origination for missing leases. comp factor: seasoned investor, Seasoned business, LTV | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000016 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000017 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] Mortgage / Program Eligibility - Subordinate financing not permitted | Approved exception at origination for < 2 active major Trade Lines. Comp Factor - Seasoned Investor, and Reserves.<br> Missing 1) Law & ord coverage A and 2) gen aggregate liability of $2,000,000.<br> Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp Factor - Seasoned Investor and Reserves.<br> Approved exception at origination for 2nd loan term < 3 yrs. Comp factor, seasoned investor. | REVIEWER - WAIVED COMMENT (2022-10-25): Approved exception at origination for Credit (Limited Trade Lines). Comp Factor - Seasoned Investor, and Reserves.<br> BUYER - GENERAL COMMENT (2022-11-01): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-01): Exception waived. Updated approval received in trailing documents approving exception for Law & Ordinance coverage. Comp factor, seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-10-25): Approved exception at origination for VOR. Comp Factor - Seasoned Investor and Reserves.<br> REVIEWER - WAIVED COMMENT (2022-11-01): Approved exception at origination for 2nd loan term. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000018 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Missing Hazard Insurance | seller 2nd mtg term of 24 mos is < guideline min 2nd mtg term of 3 yrs<br> Approved exception at origination for Waiver of insurance impounds; not collecting balance at closing- on payment plan. comp factor: seasoned investor | BUYER - GENERAL COMMENT (2022-09-22): Exception Noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-09-23): Exception waived. Updated approval received in trailing documents approving exception for 2nd Mortgage term. Comp factor, seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-09-19): Approved exception at origination for Waiver of insurance impounds; not collecting balance at closing- on payment plan. comp factor: seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000019 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Credit Report not provided<br> [2] General - Missing Document: Lease Agreement not provided<br> [2] Application / Processing - Missing Document: Non-Owner Occupancy Declaration not provided<br> [2] General - Missing Hazard Insurance | Approved exception at origination for FICO < 650. Comp Factor - LTV.<br> Approved exception at origination for missing Law & ordinance coverage. Comp Factor - Seasoned Investor<br> Approved exception at origination for Credit report aged > 60 days. Comp Factor - Low LTV.<br> Approved exception at origination for missing leases/ 67% vacancy. Comp Factor - Low LTV.<br> Missing Business Purpose of Loan Certification document for subject note<br> Missing Wind/hail Coverage. | REVIEWER - WAIVED COMMENT (2022-09-19): Approved exception at origination for FICO < 650. Comp Factor - LTV.<br> REVIEWER - WAIVED COMMENT (2022-09-19): Approved exception at origination for missing Law & ordinance coverage. Comp Factor - Seasoned Investor<br> REVIEWER - WAIVED COMMENT (2022-09-19): Approved exception at origination for Credit report aged > 60 days. Comp Factor - Low LTV.<br> REVIEWER - WAIVED COMMENT (2022-09-19): Approved exception at origination for missing leases/ 67% vacancy. Comp Factor - Low LTV.<br> BUYER - GENERAL COMMENT (2022-09-22): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-09-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing business purpose certification document. comp Factor: Seasoned investor, LTV<br> BUYER - GENERAL COMMENT (2022-09-22): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-09-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Wind/hail coverage. comp Factor: Seasoned investor, LTV | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000020 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Missing Law & Ordinance coverage. | BUYER - GENERAL COMMENT (2022-10-17): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-17): Exception waived. Updated approval received in trailing documents approving exception for Law & Ordinance coverage. Comp factor, FICO. | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000021 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - The property is ineligible. | Approved exception at origination override of statewide exclusion for subject traditional property type located in Mi. Comp. Factors: LTV, Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-09-28): Approved exception at origination override of statewide exclusion for subject traditional property type located in Mi. Comp. Factors: LTV, Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000022 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] General - LTV does not meet guidelines | Approved exceptions at origination for missing law and ordinance coverage and < 12 mos business income coverage. Comp. Factor: FICO<br> Approved exception at origination for LTV > 70% on owner user office purchase. Comp. Factors: Reserves, Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-09-29): Approved exceptions at origination for missing law and ordinance coverage and < 12 mos business income coverage. Comp. Factor: FICO<br> REVIEWER - WAIVED COMMENT (2022-09-29): Approved exception at origination for LTV > 70% on owner user office purchase. Comp. Factors: Reserves, Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000023 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for DSC < 1.0x Guideline min for owner user mixed use property with loan > $500k. Comp. Factors: Seasoned Investor, Seasoned Business.<br> Approved exception at origination for missing VOM - primary. Comp. Factor: Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-09-27): Approved exception at origination for DSC < 1.0x Guideline min for owner user mixed use property with loan > $500k. Comp. Factors: Seasoned Investor, Seasoned Business.<br> REVIEWER - WAIVED COMMENT (2022-09-27): Approved exception at origination for missing VOM - primary. Comp. Factor: Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000024 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Debt service ratio issue<br> [2] General - FICO below 650<br> [2] General - Insufficient Hazard Insurance | Underwritten vacancy of 3% per Analyst review is < guideline min vacancy assumption of 5%<br> Approved exception at origination for DSC < 1.20x required for loan > $800k. Comp. Factor: Reserves.<br> Approved exception at origination for FICO < 650. Comp. Factor: Reserves.<br> Missing Law & Ordinance coverage A. | BUYER - GENERAL COMMENT (2022-10-04): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for underwritten vacancy < 5%. comp Factor: Reserves<br> REVIEWER - WAIVED COMMENT (2022-09-29): Approved exception at origination for DSC < 1.20x required for loan > $800k. Comp. Factor: Reserves.<br> REVIEWER - WAIVED COMMENT (2022-09-29): Approved exception at origination for FICO < 650. Comp. Factor: Reserves.<br> BUYER - GENERAL COMMENT (2022-10-04): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Law & ord coverage. comp Factor: Reserves | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000025 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Guideline Issue - Aged document: Primary Valuation is older than guidelines permit: Valuation Type: Appraisal / Valuation Report Date: XX/XX/XXXX<br> [2] General - Insufficient Hazard Insurance | Appraisal aged > 6 months.<br> Approved exception at origination for EOI for Property hazard & liability coverage missing a Policy Number. Comp Factor - Seasoned Investor. | BUYER - GENERAL COMMENT (2022-10-04): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Appraisal aged > 6 mos. comp Factor: Seasoned investor<br> REVIEWER - WAIVED COMMENT (2022-09-28): Approved exception at origination for EOI for Property hazard & liability coverage missing a Policy Number. Comp Factor - Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000026 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] AUS Discrepancy / Guidelines Discrepancy - Guideline Issue: Ineligible borrower<br> [2] Credit Documentation - Missing Document: Credit Report not provided<br> [2] General - Missing Document: Lease Agreement not provided | Approved exception at origination for First Time Investor with LTV > 70% on owner user mixed use purchase. Comp. Factors: FICO, Seasoned Business, Reserves.<br> Approved exception at origination for credit report aged > 60 days. Comp. Factors: Seasoned Business, Reserves.<br> Approved exception at origination for Vacancy > 30%/missing lease. Comp. Factors: FICO, Seasoned Business, Reserves | REVIEWER - WAIVED COMMENT (2022-09-27): Approved exception at origination for First Time Investor with LTV > 70% on owner user mixed use purchase. Comp. Factors: FICO, Seasoned Business, Reserves.<br> REVIEWER - WAIVED COMMENT (2022-09-28): Approved exception at origination for credit report aged > 60 days. Comp. Factors: Seasoned Business, Reserves.<br> REVIEWER - WAIVED COMMENT (2022-09-27): Approved exception at origination for Vacancy > 30%/missing lease. Comp. Factors: FICO, Seasoned Business, Reserves | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000027 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Missing Document: Lease Agreement not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for Vacancy of 33.6%/missing lease. Comp. Factor: Reserves.<br> Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp. Factor: Reserves. | REVIEWER - WAIVED COMMENT (2022-09-27): Approved exception at origination for Vacancy of 33.6%/missing lease. Comp. Factor: Reserves.<br> REVIEWER - WAIVED COMMENT (2022-09-27): Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp. Factor: Reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000028 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] General - Missing Document: Lease Agreement not provided | 1) Missing law & ordinance coverage 2) wind deductible of 2% on $XXXXMM coverage amount exceeds guideline max wind deductible of $25k.<br> Missing lease agreement for traditional property with loan > $1.5MM | BUYER - GENERAL COMMENT (2022-10-04): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for missing law & ord coverage and Wind deductible amount. comp Factor: Seasoned investor, FICO<br> BUYER - GENERAL COMMENT (2022-10-04): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing lease. comp Factor: Seasoned investor, LTV | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000029 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Owners policy loss of income coverage amount of $XXXXk is < 6 mos P&I payments | BUYER - GENERAL COMMENT (2022-10-04): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Loss of rents coverage amount < 6 mos P&I. comp Factor: LTV | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000030 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] General - Property has been listed for sale in the past 12 months. | Cash out on property held < 6 mos. (inherited) An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-10-04): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for cashout on inherited property within 6 mos. comp Factor: LTV | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000031 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000032 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Missing Document: Lease Agreement not provided | Approved exception at origination for missing lease. Comp. Factors: Seasoned Investor, FICO. | REVIEWER - WAIVED COMMENT (2022-09-28): Approved exception at origination for missing lease. Comp. Factors: Seasoned Investor, FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000033 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Missing Document: Lease Agreement not provided | Underwritten vacancy of 3% per Analyst review is < guideline min vacancy assumption of 5%<br> 1) Missing leases for 2 of 5 units. 2) occupancy discrepancy-Analyst review reflects 100% occupancy, however approval narrative indicates 80%. | BUYER - GENERAL COMMENT (2022-10-17): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-17): Exception waived. Updated approval received in trailing documents approving exception for underwritten vacancy percentage. Comp factor, FICO.<br> BUYER - GENERAL COMMENT (2022-10-17): 1. Exception noted for missing leases. 2. corrected approval uploaded<br> REVIEWER - WAIVED COMMENT (2022-10-17): Exception waived. Updated approval received in trailing documents approving exception for missing Lease Agreement. Comp factor, FICO. Corrected approval reflects 100% occupied. | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000034 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-10-03): Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000035 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-10-03): Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000036 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - FICO below 650<br> [2] General - Insufficient Hazard Insurance | FICO is < 650. An approved exception is not documented.<br> Wind deductible of 3% on XXXk coverage amount exceeds guideline max wind deductible of $25k | BUYER - GENERAL COMMENT (2022-10-05): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-05): Exception waived. Updated approval received in trailing documents approving exception for FICO < 650. Comp factors, LTV and Reserves.<br> BUYER - GENERAL COMMENT (2022-10-05): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-05): Exception waived. Updated approval received in trailing documents approving exception for Wind Coverage deductible. Comp factor, LTV. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000037 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] General - Insufficient Hazard Insurance | Approved exception at origination for DSCR < 1.20x guideline min requirement for multifamily property with loan > $500k. Comp Factors - Reserves, Seasoned Investor.<br> 1) EOI reflects $100k all perils deductible which exceeds guideline max deductible of $10k 2) wind deductible of 5% on $1.1MM coverage exceeds guideline max wind deductible of $25k. 3) missing loss of rents coverage 4) missing $2MM gen agg liability | REVIEWER - WAIVED COMMENT (2022-10-05): Approved exception at origination for DSCR < 1.20x guideline min requirement for multifamily property with loan > $500k. Comp Factors - Reserves, Seasoned Investor.<br> BUYER - GENERAL COMMENT (2022-10-06): Exceptions noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-06): Exception waived. Updated approval received in trailing documents approving exceptions for all peril and wind deductibles missing loss of rent/business income coverage, and aggregate liability of XXXX million. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000038 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | EOI (owners policy) is missing law & ordinance coverage | BUYER - GENERAL COMMENT (2022-11-01): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-01): Exception waived. Updated approval received in trailing documents approving exception for Law & Ordinance coverage. Comp factors, FICO and seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000039 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Insufficient Hazard Insurance | 1 of 2 guarantors has < 2 active major tradelines on credit report.<br> Missing Law & Ordinance coverage. | BUYER - GENERAL COMMENT (2022-10-05): Exception written<br> REVIEWER - WAIVED COMMENT (2022-10-05): Exception waived. Updated approval received in trailing documents approving exception for < 2 major tradelines. Comp factor, reserves.<br> BUYER - GENERAL COMMENT (2022-10-05): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-05): Exception waived. Updated approval received in trialing documents approving exception for missing Law & Ordinance coverage. Comp factor, reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000040 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000041 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | EOI is missing per occ/ gen agg liability coverage details. | BUYER - GENERAL COMMENT (2022-10-06): Exception noted on uploaded approval<br> REVIEWER - GENERAL COMMENT (2022-10-06): Exception remains- Uploaded approval is for incorrect borrower/subject property.<br> BUYER - GENERAL COMMENT (2022-10-17): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-17): Exception waived. Updated approval received in trailing documents approving exception for aggregate/per occ liability. Comp factor, reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000042 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] General - Missing Document: Lease Agreement not provided | Approved exception at origination for DSCR < 1.0x Guideline min requirement for owner user trad 2 property purchase with loan > $800k. Comp. Factors: Reserves, FICO, Seasoned Business.<br> Missing lease for Trad 2 property with loan > $1MM. | REVIEWER - WAIVED COMMENT (2022-10-03): Approved exception at origination for DSCR < 1.0x Guideline min requirement for owner user trad 2 property purchase with loan > $800k. Comp. Factors: Reserves, FICO, Seasoned Business.<br> BUYER - GENERAL COMMENT (2022-10-05): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-05): Exception waived. Updated approval received in trailing documents approving exception for no Lease/owner/user property. Comp factor, FICO and seasoned business. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000043 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Loan File - Missing Document: Hazard Insurance Policy not provided | Missing Condo Master Policy. | BUYER - GENERAL COMMENT (2022-10-05): Exception noted on uploaded approval. HO6 provides sufficient coverages<br> REVIEWER - WAIVED COMMENT (2022-10-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing condo master policy. comp Factor: FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000044 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] General - LTV does not meet guidelines | Missing Wind/Hail coverage.<br> Unable to determine comp factor for Approved exception for LTV > 70% for cash out on investor retail property. Status is unmitigated | BUYER - GENERAL COMMENT (2022-10-05): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Wind/hail coverage. comp Factor: FICO<br> BUYER - GENERAL COMMENT (2022-10-05): Exception mitigated on uploaded approval<br> REVIEWER - GENERAL COMMENT (2022-10-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for LTV > 70% on cash out of investor retail property.. comp Factor: Seasoned investor, FICO<br> REVIEWER - GENERAL COMMENT (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000045 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] General - LTV over 75% | Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: Seasoned Investor.<br> Approved exception at origination for LTV > 75% on multifamily purchase. Comp. Factors: Seasoned Investor, FICO, Reserves. | REVIEWER - WAIVED COMMENT (2022-10-03): Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-10-03): Approved exception at origination for LTV > 75% on multifamily purchase. Comp. Factors: Seasoned Investor, FICO, Reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000046 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for FICO < 650. Comp. Factors: LTV, Seasoned Investor.<br> Approved exceptions at origination for 1) missing VOR- primary; borrower lives rent free. 2) missing VOM-subject. Comp. Factors: LTV, Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-10-13): Approved exception at origination for FICO < 650. Comp. Factors: LTV, Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-10-13): Approved exceptions at origination for 1) missing VOR- primary; borrower lives rent free. 2) missing VOM-subject pay history. Comp. Factors: LTV, Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000047 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exceptions at origination for 1) missing VOR-primary; guarantor lives rent free, and 2) Incomplete VOM-subject; cash payments. Comp. factor; FICO, Seasoned Investor, Reserves. | REVIEWER - WAIVED COMMENT (2022-10-12): Approved exceptions at origination for 1) missing VOR-primary; guarantor lives rent free, and 2) Incomplete VOM-supbect pay history; cash payments. Comp. factor; FICO, Seasoned Investor, Reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000048 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Ineligible property | Vacant property on a cash out refinance. An approved exception was not documented. | BUYER - GENERAL COMMENT (2022-11-09): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-09): Exception waived. Updated approval received in trailing documents approving exception for vacant property. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000049 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Missing Document: Lease Agreement not provided<br> [2] General - The property has been listed for sale in the last 12 months. | Missing lease agreement for subject SFR refinance transaction.(subject appears to be a ST rental)<br> Per the appraisal, subject is temporarily not listed. no cancelled listing agreement provided. | BUYER - GENERAL COMMENT (2022-10-17): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing lease. comp Factor: Seasoned investor, FICO<br> BUYER - GENERAL COMMENT (2022-10-17): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for recently listed property. comp Factor: Seasoned investor, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000050 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000051 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Missing the 12 month VOM- subject property and primary residence. | BUYER - GENERAL COMMENT (2022-10-17): VOR Primary. VOM Subject - Exception written (provided, but in non borrowing spouses name)<br> REVIEWER - WAIVED COMMENT (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOM-subject. comp Factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000052 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000053 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Missing 12 mos pay history for 1) VOM-primary for both guarantors. 2) VOM- subject | BUYER - GENERAL COMMENT (2022-10-17): VOM Primary - XXXX VCC Credit report and statement provided<br> BUYER - GENERAL COMMENT (2022-10-17): Exception noted for Co-Borrower Primary<br> BUYER - GENERAL COMMENT (2022-10-17): Loan is a purchase transaction, there is no VOM for subject property<br> REVIEWER - WAIVED COMMENT (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing pay history for VOM-subject and primary. comp Factor: FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000054 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Missing Document: Lease Agreement not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Subject is 100% vacant per analyst review and no lease provided for a refi transaction.<br> Approved exception at origination for missing VOR-primary; borrower lives rent free.. Comp. Factors: Seasoned Investor, Reserves. | BUYER - GENERAL COMMENT (2022-10-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-20): Exception waived. Updated approval received in trailing documents approving exception for no lease/vacant. Comp factor, seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-10-13): Approved exception at origination for missing VOR-primary; borrower lives rent free.. Comp. Factors: Seasoned Investor, Reserves. | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000055 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Eligibility - Guideline Issue: Derogatory mortgage payments outside of credit guidelines<br> [2] General - Insufficient Hazard Insurance | Approved exception for FICO < 650. Comp factors: Seasoned Investor, Reserves.<br> Approved exception for 1x 30 within 90 days on investment property mortgage. Comp factors: Seasoned Investor, Reserves.<br> EOI does not contain liability insurance. | REVIEWER - WAIVED COMMENT (2022-10-12): Approved exception for FICO < 650. Comp factors: Seasoned Investor, Reserves.<br> REVIEWER - WAIVED COMMENT (2022-10-12): Approved exception for 1x 30 within 90 days on investment property mortgage. Comp factors: Seasoned Investor, Reserves.<br> BUYER - GENERAL COMMENT (2022-11-01): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-01): Exception waived. Updated approval received in trailing documents approving exception for liability coverage. Comp factors, seasoned investor and reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000056 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Eligibility - Guideline Issue: Derogatory mortgage payments outside of credit guidelines<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] General - The property has been listed for sale in the last 12 months. | Approved exception at origination for 1x30 within 90 days. Comp factor: LTV.<br> Approved exception at origination for Missing / incomplete VOM/Land contract payment history. Comp factor: LTV.<br> Approved exception at origination for cashout on property held < 6 mos and using AV > PP. Comp factors: Seasoned Investor, LTV. | REVIEWER - WAIVED COMMENT (2022-10-11): Approved exception at origination for 1x30 within 90 days. Comp factor: LTV.<br> REVIEWER - WAIVED COMMENT (2022-10-11): Approved exception at origination for Missing / incomplete VOM/Land contract payment history. Comp factor: LTV.<br> REVIEWER - WAIVED COMMENT (2022-10-11): Approved exception at origination for cashout on property held < 6 mos and using AV > PP. Comp factors: Seasoned Investor, LTV. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000057 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] Credit Documentation - Missing lease Agreement | Less than 2 major credit lines reported.<br> 1 of 3 subject properties is 100% vacant per analyst review | BUYER - GENERAL COMMENT (2022-10-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-20): Exception waived. Updated approval received in trailing documents approving exception for less than 2 major tradelines. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-10-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-20): Exception waived. Updated approval received in trailing documents approving exception for vacancy on a refinance. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000058 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for FICO < 650. Comp. Factor: LTV.<br> Missing VOR-primary; guarantor lives rent free. An approved exception is not documented. | REVIEWER - WAIVED COMMENT (2022-10-13): Approved exception at origination for FICO < 650. Comp. Factor: LTV.<br> BUYER - GENERAL COMMENT (2022-10-17): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary; guarantor lives rent free. comp Factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000059 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Insured is individual guarantor and not borrowing Business Entity. | BUYER - GENERAL COMMENT (2022-10-17): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for guarantor named as insured. comp Factor: Seasoned investor, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000060 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000061 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000062 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000063 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for FICO < 650. Comp factor, LTV.<br> Missing VOM on subject. | REVIEWER - WAIVED COMMENT (2022-11-02): Approved exception at origination for FICO < 650. Comp factor, LTV.<br> BUYER - GENERAL COMMENT (2022-11-09): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-09): Exception waived. Updated approval received in trailing documents approving exception for VOM. Comp factor, LTV. | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000064 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650 | Approved exception at origination for FICO < 650. Comp. Factor: Low LTV. | REVIEWER - WAIVED COMMENT (2022-10-13): Approved exception at origination for FICO < 650. Comp. Factor: Low LTV. | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000065 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000066 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000067 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Missing Wind/Hail coverage.<br> Approved exception at origination for Basic form coverage type. Comp factor: LTV, FICO<br> Missing VOR-primary; guarantor lives rent free. 2) missing VOM-subject. | BUYER - GENERAL COMMENT (2022-10-17): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing wind/hail coverage. comp Factor: LTV, FICO<br> REVIEWER - WAIVED COMMENT (2022-10-11): Approved exception at origination for Basic form coverage type. comp factor: LTV, FICO<br> BUYER - GENERAL COMMENT (2022-10-17): 1) Exception noted for VOR - Rent Free 2. Per Prelim and final HUD, property is owned F&C, therefore there is no VOM<br> REVIEWER - WAIVED COMMENT (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing VOR-primary. comp Factor: LTV | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000068 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Missing 12 mos for VOM/VOR-primary for both guarantors | BUYER - GENERAL COMMENT (2022-10-17): XXXX - Shown on VCC credit report + Uploaded<br> BUYER - GENERAL COMMENT (2022-10-17): Exception noted for XXXX<br> REVIEWER - WAIVED COMMENT (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOM-primary. comp Factor: FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000069 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] Credit Documentation - Missing Document: Credit Report not provided | Credit report aged > 60 days | BUYER - GENERAL COMMENT (2022-10-17): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for credit report aged > 60 days. comp Factor: LTV | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000070 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | 1) Missing loss of rents coverage 2) missing wind/hail coverage 3) lender is not named as loss payee | BUYER - GENERAL COMMENT (2022-11-09): 1) exception noted on uploaded approval approval 2) exception noted on uploaded approval 3) pending<br> REVIEWER - WAIVED COMMENT (2022-11-09): Exception waived. Updated approval received in trailing documents approving exception for missing Wind/Hail, loss of rent coverage and Flood. Comp factor, low LTV. | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000071 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000072 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Missing VOM for the subject without an approved exception at origination. | BUYER - GENERAL COMMENT (2022-10-17): Excepton noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for VOM. Comp factor, LTV. | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000073 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000074 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000075 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Missing Document: Lease Agreement not provided<br> [2] General - The property is ineligible. | Missing lease for subject SFR refinance transaction<br> Rural subject propert; rurality check: Fail per approval. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-10-18): Exception noted ono uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for no Lease. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-10-18): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for Rural property. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000076 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines | Less than 2 major tradeline on credit report. | BUYER - GENERAL COMMENT (2022-10-18): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for tradelines. Comp factors, LTV, FICO, and seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000077 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - LTV over 75%<br> [2] General - Missing Document: Lease Agreement not provided<br> [2] General - Property has been listed for sale in the past 12 months. | Approved exception at origination for LTV > 75% on cashout refi of SFR. Comp. Factors: Seasoned Investor, Reserves.<br> Approved exception at origination for 67.9% vacancy/ missing lease. Comp. Factors: Seasoned Investor, Reserves.<br> Approved exception at origination for cashout on property held < 12 months. Comp. Factors: Seasoned Investor, Reserves. | REVIEWER - WAIVED COMMENT (2022-10-13): Approved exception at origination for LTV > 75% on cashout refi of SFR. Comp. Factors: Seasoned Investor, Reserves.<br> REVIEWER - WAIVED COMMENT (2022-10-13): Approved exception at origination for 67.9% vacancy/ missing lease. Comp. Factors: Seasoned Investor, Reserves.<br> REVIEWER - WAIVED COMMENT (2022-10-13): Approved exception at origination for cashout on property held < 12 months. Comp. Factors: Seasoned Investor, Reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000078 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Missing the complete 12 month payment history for the borrower's current and previous primary residence. The current residence is rated for 5 months per credit supplement.. | BUYER - GENERAL COMMENT (2022-10-18): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for less than 12 month VOM. Com factors, FICO and seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000079 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Insufficient Hazard Insurance | Less than 2 major credit lines on credit report.<br> 1) Liability coverage is < guideline min requirement of $1mm/occ & $2MM gen aggregate for traditional 2 property type. | BUYER - GENERAL COMMENT (2022-10-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-20): Exception waived. Updated approval received in trailing documents approving exception for less than 2 major tradelines. Comp factor, reserves.<br> BUYER - GENERAL COMMENT (2022-10-20): Exception noted for aggregate. Policy has 500K and an extended coverage of 500K for liability which is sufficient for the 1MM in coverage.<br> REVIEWER - WAIVED COMMENT (2022-10-20): Exception waived. Updated approval received in trailing documents approving exception for aggregate coverage of 2 mim missing. Comp factor, reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000080 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines | FICO < 650. An approved exception is not documented.<br> Less than 2 major trade lines on credit report. | BUYER - GENERAL COMMENT (2022-10-18): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for FICO. Comp factors, LTV and seasoned investor. Reserves could not be used as a comp factor as they were not verified.<br> BUYER - GENERAL COMMENT (2022-10-18): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for less than 2 major trade lines. Comp factors, LTV and seasoned investor. Reserves were not verified and could not be used as a comp factor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000081 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Guideline Issue - Note loan amount is less than guideline minimum.: Note loan amount of $XXXX is less than guideline minimum loan amount of $75,000. | Approved exception at origination for loan amount < $100k for traditional property type. Comp. Factors: Seasoned Investor, FICO. | REVIEWER - WAIVED COMMENT (2022-10-10): Approved exception at origination for loan amount < $100k for traditional property type. Comp. Factors: Seasoned Investor, FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000082 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Debt service ratio issue<br> [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Underwritten vacancy of 4% per Analyst review is < guideline min vacancy assumption of 5%.<br> Debt Service is < 1.0x for owner-user mixed use refi with loan > $500k<br> 1) Missing Law & Ordinance coverage. 2) EOI reflects exclusion of named storm coverage.<br> Missing VOR-primary. | BUYER - GENERAL COMMENT (2022-10-18): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for underwritten vacancy ratio. Comp factors, LTV and seasoned investor.<br> BUYER - GENERAL COMMENT (2022-10-18): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for DCR. Comp factor, LTV.<br> BUYER - GENERAL COMMENT (2022-10-18): 1) Exception noted on uploaded approval 2) policy contains W&H as per guideline<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for missing Law & Ordinance coverage. Comp factors, LTV and seasoned investor. Policy does not exclude any coverage, #2 does not apply.<br> BUYER - GENERAL COMMENT (2022-10-18): Exception noted on uploaded approval for private party VOR OK<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for VOR. Comp factor, LTV. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000083 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] Credit Eligibility - Guideline Issue: Derogatory mortgage payments outside of credit guidelines<br> [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for subject DSCR < 1.20x guideline min requirement for investor mixed-use property with loan > $500k. Comp. Factor: Seasoned investor<br> Approved exception at origination for subject mortgage currently 30 days past due at origination, and 1x60 within12 months. Comp. Factors: Seasoned Investor,<br> Wind/hail/named storm deductible of 3% on $1MM coverage amount exceeds guideline max wind deductible of $25k<br> Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp. Factor: Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-10-13): Approved exception at origination for subject DSCR < 1.20x guideline min requirement for investor mixed-use property with loan > $500k. Comp. Factor: Seasoned investor<br> REVIEWER - WAIVED COMMENT (2022-10-13): Approved exception at origination for subject mortgage currently 30 days past due at origination, and 1x60 within12 months. Comp. Factors: Seasoned Investor,<br> BUYER - GENERAL COMMENT (2022-10-18): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for wind deductible amount. comp Factor: Seasoned investor<br> REVIEWER - WAIVED COMMENT (2022-10-13): Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp. Factor: Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000084 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Debt service ratio issue<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Underwritten vacancy of 4% per Analyst review is < guideline min vacancy assumption of 5%.<br> Approved exception at origination for DSCR < 1.20x on multifamily (traditional 1) property with loan > $500k. Comp. Factor: Seasoned Investor.<br> Missing VOR/VOM-primary. | BUYER - GENERAL COMMENT (2022-10-18): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for underwritten vacancy ratio. Comp factors, FICO and seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-10-11): Approved exception at origination for DSCR < 1.20x on multifamily (traditional 1) property with loan > $500k. Comp. Factor: Seasoned Investor.<br> BUYER - GENERAL COMMENT (2022-10-18): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for VOM. Comp factors, FICO and seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000085 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for <2 major tradelines. Comp. Factor: Seasoned Investor.<br> Missing Law & ord coverage a<br> Unable to determine comp. factor for Approved exception for Missing VOR-primary; guarantor lives rent free. Status is unmitigated. | REVIEWER - WAIVED COMMENT (2022-11-07): Approved exception at origination for <2 major tradelines. Comp. Factor: Seasoned Investor.<br> BUYER - GENERAL COMMENT (2022-11-09): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-09): Exception waived. Updated approval received in trailing documents approving exception for Law & Ordinance coverage. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-11-09): Exception mitigated on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-09): Exception waived. Updated approval received in trailing documents approving exception for VOR. Comp factor, seasoned investor.<br> REVIEWER - GENERAL COMMENT (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000086 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] General - Ineligible property<br> [2] General - Insufficient Hazard Insurance<br> [2] General - Missing Document: Lease Agreement not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for subject DSCR < 1.0x guideline min requirement for owner-user mixed-use property with loan > $800k. Comp. Factor: Seasoned investor<br> Unable to substantiate use of Strong reserves as sole comp factor for Approved exception at origination for $20k in deferred maint on subject. Approval assets section reflects 'NA' and cash out from subject is < 1 mo P&I<br> Wind/hail/named storm deductible terms/details are not provided in EOI documentation provided. (update- EOI received reflects wind deductible of 3% on $1MM coverage amount which exceeds guideline max wind deductible of $25k.)<br> Unable to substantiate use of Strong reserves as sole comp factor for Approved exception at origination for missing lease/vacant commercial unit. Approval assets section reflects 'NA' and cash out from subject is < 1 mo P&I<br> Unable to substantiate use of Strong reserves as sole comp factor for Approved exception for missing VOR-primary; Guarantor lives rent free. Approval assets section reflects 'NA' and cash out from subject is < 1 mo P&I | REVIEWER - GENERAL COMMENT (2022-10-13): Approved exception at origination for subject DSCR < 1.0x guideline min requirement for owner-user mixed-use property with loan > $800k. Comp. Factor: Seasoned investor<br> BUYER - GENERAL COMMENT (2022-10-18): corrected loan approval uploaded<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for $XXXXk in deferred maint on subject. comp Factor: Reserves<br> BUYER - GENERAL COMMENT (2022-10-18): Corrected insurance uploaded. Exception noted for deductible > guideline max<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for wind deductible amount. comp Factor: Seasoned investor<br> BUYER - GENERAL COMMENT (2022-10-18): Corrected Loan Approval uploaded<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing lease/vacant commercial unit. comp Factor: Reserves<br> BUYER - GENERAL COMMENT (2022-10-18): Corrected Loan Approval uploaded<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary; guarantor lives rent free. comp Factor: Reserves | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000087 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for missing VOM-primary pay history. Comp. Factor: Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-10-13): Approved exception at origination for missing VOM-primary pay history. Comp. Factor: Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000088 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Insufficient Hazard Insurance<br> [2] Loan File - Missing Document: Hazard Insurance Policy not provided<br> [2] Application / Processing - Missing Document: Proof of Residency Status not provided | Missing required proof of US bank stmt for both foreign national guarantors<br> EOI (owners policy) does not contain law & ordinance coverage<br> Missing EOI for condo master policy<br> Approved exception at origination for expired visas for both guarantors. Comp. Factors: Reserves, Seasoned Investor, Seasoned Business. | BUYER - GENERAL COMMENT (2022-10-18): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing required US bank stmt. comp Factor: Seasoned investor, seasoned business, reserves<br> BUYER - GENERAL COMMENT (2022-10-18): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage. comp Factor: Seasoned investor, seasoned business, reserves<br> BUYER - GENERAL COMMENT (2022-10-18): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-10-18): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing condo master policy. comp Factor: Seasoned investor, seasoned business, reserves<br> REVIEWER - WAIVED COMMENT (2022-10-11): Approved exception at origination for expired visas for both guarantors. Comp. Factors: Reserves, Seasoned Investor, Seasoned Business. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000117 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - LTV over 75% | Approved exception at origination for LTV >75%. Comp Factor; Reserves. | REVIEWER - WAIVED COMMENT (2022-10-24): Approved exception at origination for LTV >75%. Comp Factor; Reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000118 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] AUS Discrepancy / Guidelines Discrepancy - Loan amounts less than $75,000 are not permitted according to the guidelines | Approved exception at origination for FICO < 650. Comp factor, LTV.<br> Approved exception at origination for loan amount < $75,000. Comp factors, LTV and seasoned investor. | REVIEWER - WAIVED COMMENT (2022-11-02): Approved exception at origination for FICO < 650. Comp factor, LTV.<br> REVIEWER - WAIVED COMMENT (2022-11-02): Approved exception at origination for loan amount < $75,000. Comp factors, LTV and seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000119 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Missing VOR on primary (guarantor lives rent free). An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-11-09): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-09): Exception waived. Updated approval received in trailing documents approving exception for VOR. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000120 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Eligibility - Guideline Issue: Derogatory mortgage payments outside of credit guidelines<br> [2] General - LTV over 75% | Approved exception at origination for 1x60 within last 24 months. Comp factors, FICO and seasoned investor.<br> Approved exception at origination for LTV > 75% for subject SFR cashout refi. Comp factors, seasoned investor and FICO. | REVIEWER - WAIVED COMMENT (2022-11-03): Approved exception at origination for 1x60 within last 24 months. Comp factors, FICO and seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-11-03): Approved exception at origination for LTV > 75%. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000121 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General Appraisal Requirements - Subject is a refinance and property is listed for sale.: Valuation Type: Appraisal / Valuation Report Date: XX/XX/XXXX | Cash out refinance on a property listed within last six months without an approved exception documented. | BUYER - GENERAL COMMENT (2022-11-14): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-15): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for cashout on recently listed property. comp Factor: seasoned investor, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000122 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000123 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000124 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000125 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000126 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Missing loss of rents coverage (neither loss of rents nor loss of use coverage is evidenced). | BUYER - GENERAL COMMENT (2022-11-09): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for Loss of Rents coverage. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000127 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000128 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Loan File - Missing Document: Hazard Insurance Policy not provided<br> [2] Credit Documentation - Missing lease Agreement<br> [2] General - The property has been listed for sale in the last 12 months. | Policy reflects loss of use and not Loss of Rents coverage and policy is a homeowners policy.<br> Vacant Property on a refinance.<br> Cash out on property held < 6 months using appraised value. | BUYER - GENERAL COMMENT (2022-11-09): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for Loss of Rent coverage. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-11-09): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for vacancy. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-11-09): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for recently listed. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000129 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - FICO below 650<br> [2] General - Ineligible property<br> [2] General - Insufficient Hazard Insurance<br> [2] AUS Discrepancy / Guidelines Discrepancy - Loan amounts less than $75,000 are not permitted according to the guidelines<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for FICO < 650. Comp factors, seasoned investor and reserves.<br> Approved exception at origination for rural property. Comp factors: Reserves and seasoned investor<br> Approved exception at origination for missing Wind/Hail coverage. Comp factor, seasoned investor.<br> Approved exception at origination for loan < $75,000. Comp factors, reserves and seasoned investor.<br> Approved exception at origination for VOM- primary. Comp factor, reserves and seasoned investor. | REVIEWER - WAIVED COMMENT (2022-11-11): Approved exception at origination for FICO < 650. Comp factor, seasoned investor, reserves.<br> REVIEWER - WAIVED COMMENT (2022-11-11): Approved exception at origination for rural property. Comp factors: Reserves and seasoned investor<br> REVIEWER - WAIVED COMMENT (2022-11-11): Approved exception origination for missing Wind/Hail coverage. Comp factor, seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-11-11): Approved exception at origination for loan < $75,000. Comp factors, reserves and seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-11-11): Approved exception at origination for incomplete VOM- primary pay history. Comp factor, reserves and seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000130 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000131 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000132 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000133 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Missing loss of rents coverage. (neither loss of rents nor loss of use coverage is evidenced on bound coverage documentation in file) | BUYER - GENERAL COMMENT (2022-11-09): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for Loss of Rents coverage. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000134 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Ineligible property<br> [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Credit Report not provided | Approved exception at origination for vacant property on a refinance. Comp factor, seasoned investor.<br> Missing Wind coverage<br> Approved exception at origination for expired credit report and 1x60 mortgage late. Comp factor, seasoned investor. | REVIEWER - WAIVED COMMENT (2022-11-08): Approved exception at origination for vacant property on a refinance. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for Wind/Hail coverage. Comp factors, FICO and seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-11-08): Approved exception at origination for expired credit report and 1x60 mortgage late. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000135 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] General - Insufficient Hazard Insurance<br> [2] General - Missing Hazard Insurance | Unable to determine comp factor for approved exception at origination for FICO < 650. Unmitigated.<br> Insured in the name of Guarantors and not borrowing entity.<br> Missing Condo Master Policy. | BUYER - GENERAL COMMENT (2022-11-09): Exception mitigated on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for FICO < 650. Comp factors, seasoned investor and LTV.<br> REVIEWER - GENERAL COMMENT (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br> BUYER - GENERAL COMMENT (2022-11-09): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for insured. Comp factors, seasoned investor and LTV.<br> BUYER - GENERAL COMMENT (2022-11-09): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for missing Master Policy (HO6 has sufficient coverage). Comp factors, seasoned investor and LTV. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000136 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] General - Insufficient Hazard Insurance | Missing Wind/Hail coverage.<br> Approved exception at origination for missing Loss of Rents coverage. Comp factor; FICO | BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for Wind/Hail coverage. Comp factor, FICO.<br> REVIEWER - WAIVED COMMENT (2022-11-12): Approved exception at origination for missing Loss of Rents coverage. Comp factor; FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000137 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] Credit Documentation - Missing lease Agreement | Missing VOR-primary. An approved exception is not documented.<br> Missing Lease. | BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for missing VOR for primary. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for No Lease. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000138 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650 | Approved exception at origination for FICO < 650. Comp Factor - LTV. | REVIEWER - WAIVED COMMENT (2022-11-12): Approved exception at origination for FICO < 650. Comp Factor - LTV. | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000139 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000140 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Documentation - Missing lease Agreement | Approved exception at origination for FICO<650. Comp factor: seasoned investor.<br> Approved exception at origination for missing lease; subject is a ST rental. Comp factor: LTV | REVIEWER - WAIVED COMMENT (2022-11-12): Approved exception at origination for FICO<650. Comp factor: seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-11-12): Approved exception at origination for missing lease; subject is a ST rental. Comp factor: LTV | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000141 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] General - The property has been listed for sale in the last 12 months. | Approved exception at origination for no VOR on primary (lives rent free). Comp factor, Seasoned Investor.<br> Approved exception at origination for value seasoning. Comp factor, Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-11-07): Approved exception at origination for no VOR on primary (lives rent free). Comp factor, Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-07): Approved exception at origination for value seasoning. Comp factor, Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000142 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Missing loss of rents coverage (neither loss of use nor loss of rents coverage reflected). | BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for Loss of Rent coverage. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000143 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Documentation - Missing lease Agreement | Approved exception at origination for FICO < 650. Comp factor, Seasoned Investor.<br> Approved exception at origination for missing lease/ 100% vacancy. Comp factor; Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-11-07): Approved exception at origination for FICO < 650. Comp factor, Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-07): Approved exception at origination for missing lease/ 100% vacancy. Comp factor; Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000144 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Missing VOR- primary- Borrower lives rent free. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for missing VOR primary. Comp factor, FICO. | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000145 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] General - Missing Hazard Insurance | Approved exception at origination for incomplete VOM on subject. Comp factor, Seasoned Investor, FICO.<br> Approved exception at origination for unrated insurance provider. Comp factor, LTV. | REVIEWER - WAIVED COMMENT (2022-11-07): Approved exception at origination for incomplete VOM on subject. Comp factor, Seasoned Investor, FICO.<br> REVIEWER - WAIVED COMMENT (2022-11-07): Approved exception at origination for unrated insurance provider. Comp factor, LTV. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000146 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] General - Missing Document: Lease Agreement not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] General - Missing Hazard Insurance | EOI for alll 3 subject properties is missing wind/hail coverage<br> Approved exception at origination for 100% vacancy/ missing lease for 1 of 3 subject properties. Comp factor: Seasoned Investor, Reserves.<br> Approved exception at origination for incomplete VOR-primary pay history. Comp factor: Seasoned Investor, Reserves.<br> Approved exception at origination for policy not paid in file & waiver of insurance impounds. Comp factor: Seasoned Investor, Reserves. | BUYER - GENERAL COMMENT (2022-11-10): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-10): Exception waived. Updated approval received in trialing documents approving exception for Wind/Hail coverage. Comp factors, seasoned investor and reserves.<br> REVIEWER - WAIVED COMMENT (2022-11-08): Approved exception at origination for 100% vacancy/ missing lease for 1 of 3 subject properties. Comp factor: Seasoned Investor, Reserves.<br> REVIEWER - WAIVED COMMENT (2022-11-08): Approved exception at origination for incomplete VOR-primary pay history. Comp factor: Seasoned Investor, Reserves.<br> REVIEWER - WAIVED COMMENT (2022-11-08): Approved exception at origination for policy not paid in file & waiver of insurance impounds. Comp factor: Seasoned Investor, Reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000147 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650 | Approved exception at origination for FICO< 650. Comp factor; Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-11-10): Approved exception at origination for FICO< 650. Comp factor; Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000148 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000149 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Missing Document: Lease Agreement not provided | Missing lease agreement/100% vacancy. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-11-15): Exception noted for vacant refi<br> REVIEWER - WAIVED COMMENT (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for missing Lease. Comp factors, LTV and FICO. | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000150 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Mortgage / Program Eligibility - The ID documentation (license, passport, Visa) does not show the borrower(s) at an address different than the subject and thus casts doubt on the business purpose of the loan. | Driver's license reflects subject address as the Guarantors address. | BUYER - GENERAL COMMENT (2022-11-10): Exception noted for address. Borrower has signed all necessary Business Purpose documents, provided leases and appraiser verified tenant occupied.<br> REVIEWER - WAIVED COMMENT (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for ID reflecting subject as guarantors primary address. Comp factor, seasoned investor and all necessary documents provided as evidence property is tenant occupied. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000151 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | EOI (owners policy) reflects loss of use and not Loss of Rents Coverage (Landlord coverage is not evidenced). | BUYER - GENERAL COMMENT (2022-11-15): Uploaded<br> REVIEWER - WAIVED COMMENT (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for Loss of Use coverage. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000152 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Ineligible property | Approved exception at origination for Rural property. Comp Factor - Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-11-12): Approved exception at origination for Rural subject property. Comp Factor - Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000153 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines | Approved exception at origination for < 2 active major tradelines on credit report. Comp Factors - Seasoned Investor | REVIEWER - WAIVED COMMENT (2022-11-12): Approved exception at origination for < 2 active major tradelines on credit report. Comp Factors - Seasoned Investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000154 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] AUS Discrepancy / Guidelines Discrepancy - Loan amounts less than $75,000 are not permitted according to the guidelines<br> [2] General - Property has been listed for sale in the past 12 months. | Approved exception at origination for missing Wind/Hail coverage. Comp Factor - Seasoned Investor.<br> Approved exception at origination for Loan Amount < $75k. Comp Factor - Seasoned Investor.<br> Approved exception at origination for cashout on property held < 12 mos. Comp Factor - Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-11-12): Approved exception at origination for missing Wind/Hail coverage. Comp Factor - Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for Loan Amount < $75k. Comp Factor - Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-12): Approved exception at origination for cashout on property held < 12 mos. Comp Factor - Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000155 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000156 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Missing Document: Lease Agreement not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for vacant subject property on Condo refi. Comp factor, Seasoned Investor, FICO.<br> Missing complete VOM- subject. An approved exception is not documented. | REVIEWER - WAIVED COMMENT (2022-11-03): Approved exception at origination for vacant subject property on Condo refi. Comp factor, Seasoned Investor, FICO.<br> BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for incomplete VOM. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000157 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Missing loss of rents coverage (neither loss of rents nor loss of use coverage is evidenced). | BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for Loss of Rent coverage. Comp factors, seasoned investor and reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000158 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Credit Report not provided<br> [2] Credit Documentation - Missing lease Agreement<br> [2] Guideline Issue - Note loan amount is less than guideline minimum.: Note loan amount of $XXXX is less than guideline minimum loan amount of $75,000. | Missing 1) loss of rents coverage 2) wind/hail coverage<br> Approved exception at origination for credit report aged > 60 days. Comp factor: LTV<br> Approved exception at origination for 100% vacancy/missing lease on refinance. Comp factor: LTV, FICO<br> Approved exception at origination for loan amount < $75k. Comp factor: LTV, FICO | BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for loss of rent and Wind/Hail coverage. Comp factors, seasoned investor and FICO.<br> REVIEWER - WAIVED COMMENT (2022-11-12): Approved exception at origination for credit report aged > 60 days. comp factor: LTV<br> REVIEWER - WAIVED COMMENT (2022-11-12): Approved exception at origination for 100% vacancy/missing lease on subject SFR refi. comp factor: LTV, FICO<br> REVIEWER - WAIVED COMMENT (2022-11-12): Approved exception at origination for loan amount < $75k. comp factor: LTV, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000159 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000160 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000161 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000162 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Ineligible property | Approved exception at origination for Rural location. Comp factor, FICO. | REVIEWER - WAIVED COMMENT (2022-11-07): Approved exception at origination for Rural location. Comp factor, FICO. | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000163 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - The property has been listed for sale in the last 12 months. | Cash-out on multiple properties held < 12 months. | BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for value seasoning. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000164 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | EOI (owners policy) 1) has 80% coinsurance 2) is missing liability coverage<br> Missing Proof of primary Residence for foreign investor guarantor | BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for missing liability and co-insurance. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for missing proof of primary residence for foreign investor. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000165 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] General - Insufficient Hazard Insurance<br> [2] General - Missing Document: 1007 Rent Comparison Schedule not provided<br> [2] Application / Processing - Missing Document: Rent Roll not provided | Approved exception at origination for FICO < 650. Comp factor, LTV.<br> Guarantor is listed as the insured and not the borrowing entity.<br> Approved exception at origination for no Lease/vacant property. Comp factors, LTV and seasoned investor. | REVIEWER - WAIVED COMMENT (2022-11-04): Approved exception at origination for FICO < 650. Comp factor, LTV.<br> BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for insured. Comp factor, LTV.<br> REVIEWER - WAIVED COMMENT (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for 1007 comparable rent schedule. Comp factors, seasoned investor and LTV.<br> REVIEWER - WAIVED COMMENT (2022-11-04): Approved exception at origination for no Lease/vacant property. Comp factors, LTV and seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000166 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - FICO below 650<br> [2] AUS Discrepancy / Guidelines Discrepancy - Guideline Issue: Ineligible borrower | Unable to substantiate use of strong reserves as sole comp factor for Approved exception for FICO < 650. Underwritten reserves < 6 mos- $XXXX verified per assets section less $XXXX req'd to close per final HUD =17,232.4 which equates to < 5 mos P&I pmt.<br> Unable to substantiate use of strong reserves as sole comp factor for Approved exception for First Time Investor with LTV > 70% on 4 family. Underwritten reserves < 6 mos- $XXXX verified per assets section less $XXXX req'd to close per final HUD =17,232.4 which equates to < 5 mos P&I pmt. | BUYER - GENERAL COMMENT (2022-11-15): Assets section corrected on uploaded approval. Borrower will retain approx an additional 2 mos above the required 3 mos in reserves which is sufficient to mitigate exceptions with.<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents with corrected asset section and approving exception for FICO. Comp factor, reserves.<br> BUYER - GENERAL COMMENT (2022-11-15): Assets section corrected on uploaded approval. Borrower will retain approx an additional 2 mos above the required 3 mos in reserves which is sufficient to mitigate exceptions with.<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents with corrected asset section and approving exception for First Time Investor. Comp factor, reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000167 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Insufficient Hazard Insurance<br> [2] General - Missing Document: Lease Agreement not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for FICO < 650. Comp factors: LTV, Reserves.<br> No active major tradelines on credit report. An approved exception is not documented<br> EOI contains loss of use and not loss of rents coverage (landlord coverage not evidenced).<br> Approved exception at origination for 100% vacancy/ missing lease. Comp factor: LTV, Reserves.<br> Approved exception at origination for missing VOR-primary guarantor lives rent free. Comp factor: LTV. | REVIEWER - WAIVED COMMENT (2022-11-05): Approved exception at origination for FICO < 650. Comp factors: LTV, Reserves.<br> BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for tradelines. Comp factor, reserves.<br> BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for rent loss coverage. Comp factor, LTV.<br> REVIEWER - WAIVED COMMENT (2022-11-05): Approved exception at origination for 100% vacancy/ missing lease. Comp factor: LTV, Reserves.<br> REVIEWER - WAIVED COMMENT (2022-11-05): Approved exception at origination for missing VOR-primary guarantor lives rent free. Comp factor: LTV. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000168 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing lease Agreement | Approved exception at origination for Vacant/missing lease on refinance. Comp factor, FICO. | REVIEWER - WAIVED COMMENT (2022-11-07): Approved exception at origination for Vacant/missing lease on refinance. Comp factor, FICO. | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000169 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - FICO below 650<br> [2] AUS Discrepancy / Guidelines Discrepancy - Guideline Issue: Ineligible borrower<br> [2] General - Insufficient Hazard Insurance | Approved exception at origination for FICO < 650. Comp factor: Reserves.<br> Approved exception at origination for First time investor on 4 family purchase with FICO < 650 with LTV > 60%. Comp factor: Reserves.<br> EOI does not contain liability coverage. | REVIEWER - WAIVED COMMENT (2022-11-11): Approved exception at origination for FICO < 650. Comp factor: Reserves.<br> REVIEWER - WAIVED COMMENT (2022-11-11): Approved exception at origination for First time investor on 4 family purchase with FICO < 650 with LTV > 60%. Comp factor: Reserves.<br> BUYER - GENERAL COMMENT (2022-12-19): Uploaded proof of liability coverage and updated approval reflecting an exception for Liability effective date<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for the liability coverage affective date. Comp factors, LTV and Reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000170 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing lease Agreement | EOI 1) contains 90% Coinsurance. 2) does not contain loss of rents coverage. (neither loss of use nor loss of rents coverage indicated)<br> 100% vacancy/ missing lease. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-11-15): Exceptions noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for co-insurance and loss of rent coverage. Comp factors, seasoned business and seasoned investor.<br> BUYER - GENERAL COMMENT (2022-11-15): Exception noted for vacant refinance<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for vacancy on a refinance. Comp factor, seasoned business and seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000171 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000172 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000173 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | EOI reflects loss of use and not loss of rents coverage without indication of landlord policy. | BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for loss of rent coverage. Comp factor, LTV. | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000174 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] Credit Documentation - Missing Document: Credit Report not provided | Credit report for 1 of 2 guarantors is aged > 60 days | BUYER - GENERAL COMMENT (2022-11-15): exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for expired credit. Comp factors, LTV and seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000175 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000176 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] Application / Processing - Missing Document: Verification of Down Payment Funds not provided | Approved exception at origination for credit report aged > 60 days. Comp factor, Seasoned Investor.<br> Approved exception at origination for< 2 active major tradelines. Comp factor, Seasoned Investor.<br> 1. Missing evidence of underwritten funds to close. Asset section is blank. 2. Missing verification of funds needed to close. | REVIEWER - WAIVED COMMENT (2022-11-07): Approved exception at origination for credit report expired. Comp factor, Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-07): Approved exception at origination for limited tradelines. Comp factor, Seasoned Investor.<br> BUYER - GENERAL COMMENT (2022-12-19): Excepton noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for unverified funds to close comp Factor: Seasoned investor, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000177 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Insufficient Hazard Insurance<br> [2] General - LTV does not meet guidelines<br> [2] General - Missing Document: Lease Agreement not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for < 2 active major tradelines Comp factor: Seasoned Investor.<br> Approved exception at origination for missing Loss of Rents coverage. Comp factor: Seasoned Investor.<br> LTV > 65% for foreign investor with no FICO. An approved exception is not documented.<br> Approved exception at origination for missing lease; subject is XXXX. Comp factor: Seasoned Investor.<br> Missing VOM-primary for both guarantors. An approved exception is not documented. | REVIEWER - WAIVED COMMENT (2022-11-04): Approved exception at origination for < 2 active major tradelines Comp factor: Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-04): Approved exception at origination for missing Loss of Rents coverage. Comp factor: Seasoned Investor.<br> BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for LTV. Comp factor, seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-11-04): Approved exception at origination for missing lease; subject is XXXX. Comp factor: Seasoned Investor.<br> BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - GENERAL COMMENT (2022-11-16): Exception remains. VOM for primary residence is missing. Exception written for subject with no lease.<br> BUYER - GENERAL COMMENT (2022-11-21): Uploaded<br> REVIEWER - GENERAL COMMENT (2022-11-26): Exception remains; uploaded approval is not for subject borrower entity/ subject property.<br> BUYER - GENERAL COMMENT (2022-11-28): Uploaded<br> REVIEWER - WAIVED COMMENT (2022-11-28): Exception waived. Updated approval received in trailing documents approving exception for Primary VOM. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000178 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000179 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | 1. Loss of rent coverage is less than 1 months rent..<br>2. Liability coverage less than $300,000 on each property.<br> Missing VOM on both subjects. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-11-21): Uploaded<br> REVIEWER - WAIVED COMMENT (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for 1) missing loss of rents coverage and 2) insufficient liability coverage amount comp Factor: LTV<br> BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOM for both subjects comp Factor: seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000180 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] Application / Processing - Missing Document: Rent Roll not provided<br> [2] Credit Documentation - Missing lease Agreement | Approved exception at origination for liability coverage less than $300,000. Comp factor, FICO.<br> Less than 12 months value seasoning with appraised value used versus purchase price. An approved exception is not documented.<br> Approved exception at origination for no Lease. Comp factors, FICO and reserves. | REVIEWER - WAIVED COMMENT (2022-11-11): Approved exception at origination for liability coverage less than $300,000. Comp factor, FICO.<br> BUYER - GENERAL COMMENT (2022-11-15): Guarantor has been on title to the property since June of xxx. He then transferred title to borrowing entity in September of this year. There is not a value seasoning issue since last transfer was deed and prior sale occurred in 2019<br> REVIEWER - GENERAL COMMENT (2022-11-16): Exception remains. Borrower purchased property from an entity that he has no interest in on x/xxxx. Copy of Purchase Contract in file.<br> BUYER - GENERAL COMMENT (2022-11-21): Item #17 of Schedule C shows the properties conveyed to borrowing entity x/xx/xx and x/xx/xx With recording information provided.<br> REVIEWER - GENERAL COMMENT (2022-11-26): Exception remains- Provided title reflects entity as vested owner. Subject note borrower is an individual. An approved exception is not documented<br> BUYER - GENERAL COMMENT (2022-11-28): Uploaded<br> REVIEWER - WAIVED COMMENT (2022-11-28): Exception waived. Updated approval received in trailing documents approving exception for value seasoning. Comp factors, FICO and reserves.<br> REVIEWER - WAIVED COMMENT (2022-11-11): Approved exception at origination for no Lease. Comp factors, FICO and reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000181 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Credit Report not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] Credit Documentation - Missing lease Agreement | Missing wind/hail coverage.<br> Approved exception at origination for credit report aged > 60 days. Comp factor: Seasoned Investor, LTV.<br> Missing VOR - primary.<br> Approved exception at origination for missing Leases. on a refi. Comp factor: Seasoned Investor, LTV. | BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for Wind/Hail coverage. Comp factor, seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-11-10): Approved exception at origination for credit report aged > 60 days. Comp factor: Seasoned Investor, LTV.<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for VOR. Comp factor, LTV.<br> REVIEWER - WAIVED COMMENT (2022-11-10): Approved exception at origination for missing Leases for subject 3 family property refi. Comp factor: Seasoned Investor, LTV. | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000182 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Missing Document: Lease Agreement not provided<br> [2] Application / Processing - Missing Document: Proof of Residency Status not provided | 100% Vacancy/missing lease on a refinance. An approved exception is not documented.<br> Missing green card for permanent resident alien as indicated on application. | BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for vacancy. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-11-15): Copies of borrowers work authorization card, copy of the request for extension dated x/xx/xx. Which was daated before the expiration of the card.<br> REVIEWER - GENERAL COMMENT (2022-11-16): Exception remains. Application indicates borrower is a permanent resident alien. Work permit card does not support that. Work permit is required when non-permanent resident.<br> BUYER - GENERAL COMMENT (2022-11-22): Corrected loan approval uploaded to support borrowers provide documents on non perm resident alien<br> REVIEWER - GENERAL COMMENT (2022-11-26): Exception remains- a Valid Visa/Greencard is required. (the uploaded documentation consisting of employment auth card and I-797C does not establish any valid proof of immigration status.<br> BUYER - GENERAL COMMENT (2022-11-28): Exception for Work Authorization card uploaded<br> REVIEWER - WAIVED COMMENT (2022-11-28): Exception waived. Updated approval received in trailing documents approving exception for VISA/Green card. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000183 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000184 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000185 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Missing VOR-primary; borrower lives rent free with Fiance. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for missing VOR primary. Comp factor, reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000186 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000187 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Missing Document: Lease Agreement not provided<br> [2] General - Missing Hazard Insurance<br> [2] General - The property has been listed for sale in the last 12 months. | Approved exception at origination for 100 % vacancy/ missing lease. Comp. Factors: Seasoned Investor, Reserves.<br> Approved exception at origination for policy not paid in full; on payment plan & waiver of insurance impounds. Comp. Factor: Seasoned Investor.<br> Approved exception at origination for cashout on property held < 12 months/ listed within 6 months. Comp. Factors: Seasoned Investor, Reserves. | REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for 100 % vacancy/ missing lease. Comp. Factors: Seasoned Investor, Reserves.<br> REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for policy not paid in full; on payment plan & waiver of insurance impounds. Comp. Factor: Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for cashout on property held < 12 months/ listed within 6 months. Comp. Factors: Seasoned Investor, Reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000188 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000189 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | EOI reflects individual guarantor as insured and not the borrowing entity. | BUYER - GENERAL COMMENT (2022-11-15): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for name of insured. Comp factors, LTV and seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000190 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for Missing VOM-Primary. Comp factor: FICO. | REVIEWER - WAIVED COMMENT (2022-11-10): Approved exception at origination for Missing VOM-Primary 12 mo pay history. Comp factor: FICO. | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000191 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] General - Loan Amount below $250,000<br> [2] General - LTV over 75%<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Missing Wind/Hail Coverage.<br> Approved exception at origination for loan amount < $75,000. . Comp factor: seasoned investor.<br> Approved exception at origination for LTV >75%. Comp factor: seasoned investor.<br> Approved exception at origination for missing VOR on primary housing. Comp factor: seasoned investor. | BUYER - GENERAL COMMENT (2022-11-16): Uploaded<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for Wind/Hail coverage. Comp factor, FICO.<br> REVIEWER - WAIVED COMMENT (2022-11-08): Approved exception at origination for loan amount < $75,000. . Comp factor: seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-11-08): Approved exception at origination for LTV >75%. Comp factor: seasoned investor<br> REVIEWER - WAIVED COMMENT (2022-11-08): Approved exception at origination for missing VOR on primary housing. Comp factor: seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000192 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - The property is ineligible. | Approved exception at origination for Rural property. Comp. Factor: Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for Rural subject property. Comp. Factor: Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000193 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] Credit Documentation - Missing lease Agreement | Approved Exception at origination for missing Wind/Hail coverage. Comp Factor - Seasoned Investor.<br> Approved Exception at origination for incomplete VOM-primary Pay history. Comp Factors - Seasoned Investor, LTV, Reserves.<br> Approved exception at origination for Missing lease/100% Vacancy. Comp Factors - Seasoned Investor, LTV, Reserves. | REVIEWER - WAIVED COMMENT (2022-11-09): Approved Exception at origination for missing Wind/Hail coverage. Comp Factor - Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-09): Approved Exception at origination for incomplete VOM-primary Pay history. Comp Factors - Seasoned Investor, LTV, Reserves.<br> REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for Missing lease/100% Vacancy. Comp Factors - Seasoned Investor, LTV, Reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000194 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] Credit Eligibility - Guideline Issue: Derogatory consumer credit outside of credit guidelines<br> [2] General - Insufficient Hazard Insurance<br> [2] General - Missing Hazard Insurance<br> [2] General - Property has been listed for sale in the past 12 months. | Approved exception at origination for No active major tradelines on credit report. Comp factor: LTV, seasoned investor<br> Approved exception at origination for Bankruptcy (Ch 13) within 24 mos. Comp factor: LTV, seasoned investor<br> Missing Law & ord coverage A<br> Approved exception at origination for Policy not paid in full for 12 mos duration- on payment plan. Comp factor: seasoned investor<br> Approved exception at origination for cash out on property held < 12 mos (borrower added to entity within 12 mos) . Comp factor: LTV | REVIEWER - WAIVED COMMENT (2022-11-05): Approved exception at origination for No active major tradelines on credit report. comp factor: LTV, seasoned investor<br> REVIEWER - WAIVED COMMENT (2022-11-05): Approved exception at origination for Bankruptcy (Ch 13) within 24 mos. comp factor: LTV, seasoned investor<br> BUYER - GENERAL COMMENT (2022-11-16): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for Law & Ordinance coverage. Comp factor, seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-11-05): Approved exception at origination for Policy not paid in full for 12 mos duration- on payment plan comp factor: seasoned investor<br> REVIEWER - WAIVED COMMENT (2022-11-05): Approved exception at origination for cashout on property held < 12 mos . comp factor: LTV | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000195 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Credit Report not provided | Approved exception at origination for credit report aged > 60 days. Comp factor: Seasoned investor, seasoned business. | REVIEWER - WAIVED COMMENT (2022-11-05): Approved exception at origination for credit report aged > 60 days. comp factor: Seasoned investor, seasoned business. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000196 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000197 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] Credit Eligibility - Guideline Issue: Derogatory consumer credit outside of credit guidelines | < 2 active major tradelines on credit report.<br> Unable to determine comp factor for approved exception for multiple BK's within 7 yrs. Status is unmitigated | BUYER - GENERAL COMMENT (2022-11-16): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for limited major tradelines. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-11-16): Exception mitigated on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for Bankruptcies. Comp factor, seasoned investor.<br> REVIEWER - GENERAL COMMENT (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000198 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Credit Report not provided | Approved exception at origination for missing Law and Ordinance coverage. Comp. Factor: Strong Reserves.<br> Credit report aged > 60 days. An approved exception is not documented | REVIEWER - WAIVED COMMENT (2022-11-07): Approved exception at origination for missing Law and Ordinance coverage. Comp. Factor: Strong Reserves.<br> BUYER - GENERAL COMMENT (2022-11-16): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for expired credit. Comp factor, reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000199 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Eligibility - Guideline Issue: Derogatory mortgage payments outside of credit guidelines | Approved exception at origination for VOM- Primary in Foreclosure within 24 months and incomplete pay history (brought current). Comp. Factors: Reserves, LTV. | REVIEWER - WAIVED COMMENT (2022-11-08): Approved exception at origination for VOM- Primary in Foreclosure within 24 months/ Incomplete 12 mos pay history. (Brought current x/xx/xx). Comp. Factors: Reserves, LTV. | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000200 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Eligibility - Guideline Issue: Derogatory consumer credit outside of credit guidelines<br> [2] Credit Documentation - Missing lease Agreement | Approved exception at origination for tax lien and open collection. Comp. Factor: Seasoned Investor.<br> Missing 1 of 5 Leases (6 unit property with owner occupying 1). | REVIEWER - WAIVED COMMENT (2022-11-08): Approved exception at origination for tax lien and open collection. Comp. Factor: Seasoned Investor.<br> BUYER - GENERAL COMMENT (2022-11-16): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for missing lease. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000201 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] General - FICO below 650 | Approved exception at origination for FICO < 650. Comp. Factor: Low LTV. | REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for FICO < 650. Comp. Factor: Low LTV. | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000202 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000203 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] General - The property is ineligible. | Missing law & ordinance coverage.<br> Approved exception at origination for statewide exclusion override for multifamily (traditional) property type located in IL. Comp. Factor: FICO. | BUYER - GENERAL COMMENT (2022-11-16): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for Law & Ordinance coverage. Comp factor, FICO.<br> REVIEWER - WAIVED COMMENT (2022-11-10): Approved exception at origination for statewide exclusion override for multifamily (traditional) property type located in IL. Comp. Factor: FICO. | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000204 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] General - FICO below 650<br> [2] Credit Eligibility - Guideline Issue: Derogatory consumer credit outside of credit guidelines | DSC is < 1.20x for traditional property with loan amount > $500k. An approved exception is not documented<br> Approved exception at origination for FICO < 650. Comp. Factors: LTV, Seasoned Investor, Reserves.<br> Approved exception at origination for Chargeoffs/collections > $25k reflected on credit report. comp factor: LTV, Reserves, Seasoned investor | BUYER - GENERAL COMMENT (2022-11-16): Exception noted on uploaded approval<br> REVIEWER - GENERAL COMMENT (2022-11-16): Exception remains. Approval not uploaded.<br> BUYER - GENERAL COMMENT (2022-11-22): Uploaded<br> REVIEWER - WAIVED COMMENT (2022-11-22): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for DSCR < 1.20x for traditional property with loan amount > $500k. comp Factor: Seasoned investor, reserves, LTV<br> REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for FICO < 650. Comp. Factors: LTV, Seasoned Investor, Reserves.<br> REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for Chargeoffs/collections > $25k reflected on credit report. comp factor: LTV, Reserves, Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000205 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Debt service ratio issue | Approved exception at origination for DSCR < 1.25x. Comp. Factor: Strong Reserves. | REVIEWER - WAIVED COMMENT (2022-11-10): Approved exception at origination for DSCR < 1.25x. Comp. Factor: Strong Reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000206 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] General - LTV does not meet guidelines<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: FICO<br> Approved exception at origination for LTV > 70% on Owner user mixed use purchase by First Time Investor. Comp. Factors: Reserves, FICO, Seasoned Business.<br> Approved exception at origination incomplete VOM-primary. Comp. Factors: Reserves, FICO, Seasoned Business. | REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: FICO<br> REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for LTV > 70% on Owner user mixed use purchase by First Time Investor. Comp. Factors: Reserves, FICO, Seasoned Business.<br> REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination incomplete VOM-primary 12 mo pay history. Comp. Factors: Reserves, FICO, Seasoned Business. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000207 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] General - LTV does not meet guidelines | Approved exception at origination for DSCR < 1.0x for owner user traditional 2 property with loan > $500k. comp factor: FICO<br> Approved exception at origination for LTV of 75% on owner user auto service property purchase. comp factor: FICO | REVIEWER - WAIVED COMMENT (2022-11-02): Approved exception at origination for DSCR < 1.0x for owner user traditional 2 property with loan > $500k. comp factor: FICO<br> REVIEWER - WAIVED COMMENT (2022-11-02): Approved exception at origination for LTV of 75% on owner user XXXX property purchase. comp factor: FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000208 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] General - LTV does not meet guidelines | Approved exception at origination for DSCR < 1.0x for owner user office purchase with loan > $800k per Guidelines. Comp. Factor: Reserves.<br> Approved exception at origination for LTV > 70% on owner user office purchase. Comp. Factor: Reserves. | REVIEWER - WAIVED COMMENT (2022-11-10): Approved exception at origination for DSCR < 1.0x for owner user office purchase with loan > $800k per Guidelines. Comp. Factor: Reserves.<br> REVIEWER - WAIVED COMMENT (2022-11-10): Approved exception at origination for LTV > 70% on owner user office purchase. Comp. Factor: Reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000209 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] General - Missing Document: Lease Agreement not provided | Approved exception at origination for DSCR < 1.20x on subject multifamily property with loan > $800k. Comp Factors - Reserves, FICO, Seasoned Investor.<br> Missing lease agreements for 5 of 20 subject units (15 leases provided). | REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for DSCR < 1.20x on subject multifamily property with loan > $800k. Comp Factors - Reserves, FICO, Seasoned Investor.<br> BUYER - GENERAL COMMENT (2022-11-16): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for missing Lease Agreements. comp factors, FICO and seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000210 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] General - Insufficient Hazard Insurance<br> [2] General - Missing Document: Lease Agreement not provided | Approved exception at origination for DSCR < 1.20x Guideline min for multifamily property with loan > $500k. Comp. Factors: Reserves, FICO, Seasoned Investor.<br> EOI is missing deductible amount/details for both all perils and wind/hail loss/claims.<br> Approved exception at origination for missing lease for 1 of 19 units (1 manager occupied unit). Comp. Factors: Reserves, FICO, Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-11-10): Approved exception at origination for DSCR < 1.20x Guideline min for multifamily property with loan > $500k. Comp. Factors: Reserves, FICO, Seasoned Investor.<br> BUYER - GENERAL COMMENT (2022-11-16): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for deductibles not on policy. Comp factors, FICO and seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-11-10): Approved exception at origination for missing lease for 1 of 19 tenant occupied subject units (& 1 manager occupied unit). Comp. Factors: Reserves, FICO, Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000211 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] AUS Discrepancy / Guidelines Discrepancy - Guideline Issue: Ineligible borrower<br> [2] General - LTV does not meet guidelines | Approved exception at origination for First time investor with LTV > 70% on owner user commercial condo purchase. Comp Factor: Reserves<br> Approved exception at origination for LTV > 70% on owner user commercial condo purchase by FT investor. Comp Factor: Reserves | REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for First time investor with LTV > 70% on owner user commercial condo purchase. Comp Factor: Reserves<br> REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for LTV > 70% on owner user commercial condo purchase by FT investor. Comp Factor: Reserves | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000212 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] General - LTV does not meet guidelines<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] General - The property has been listed for sale in the last 12 months. | Approved exception at origination for missing law & ordinance coverage. Comp. Factor: Seasoned Investor.<br> Approved exception at origination for LTV > 75% on owner user mixed use refinance. Comp. Factor: Reserves.<br> Approved exception at origination for Missing VOR-primary; guarantor lives rent free. Comp. Factor: Reserves.<br> Approved exception at origination for cashout on property held < 12 months. Comp. Factor: Reserves. | REVIEWER - WAIVED COMMENT (2022-11-07): Approved exception at origination for missing law & ordinance coverage. Comp. Factor: Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-07): Approved exception at origination for LTV > 75% on owner user mixed use refinance. Comp. Factor: Reserves.<br> REVIEWER - GENERAL COMMENT (2022-11-07): Approved exception at origination for Missing VOR-primary; guarantor lives rent free. Comp. Factor: Reserves.<br> REVIEWER - WAIVED COMMENT (2022-11-08): Approved exception at origination for cash out on property held < 12 months. Comp. Factor: Reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000213 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Missing Wind/hail coverage<br> Missing VOR-primary; Borrower lives rent free. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-11-16): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for Wind/Hail coverage. Comp factor, LTV.<br> BUYER - GENERAL COMMENT (2022-11-16): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for VOR. Comp factors, LTV and reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000214 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650 | Approved exception at origination for FICO < 650. Comp. Factor: LTV. | REVIEWER - WAIVED COMMENT (2022-11-10): Approved exception at origination for FICO < 650. Comp. Factor: LTV. | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000215 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Debt service ratio issue | Approved exception at origination for subject DSCR < 1.25x Guideline min requirement for investor traditional 2 property refi with loan > $500k.. Comp. Factor: Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-11-10): Approved exception at origination for subject DSCR < 1.25x Guideline min requirement for investor traditional 2 property refi with loan > $500k.. Comp. Factor: Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000216 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] AUS Discrepancy / Guidelines Discrepancy - Guideline Issue: Ineligible borrower<br> [2] General - Ineligible property<br> [2] General - Insufficient Hazard Insurance | Approved exception at origination for First Timer investor with LTV > 65% on owner user office.. Comp. Factor: Reserves.<br> Unable to determine comp factor for Approved exception for estimated required cost to cure of $XXXX for subject office property previously converted to bank requiring re-conversion to office. Value reduced by cost to convert back. Status is unmitigated.<br> Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: FICO. | REVIEWER - WAIVED COMMENT (2022-11-10): Approved exception at origination for First Timer investor with LTV > 65% on owner user office.. Comp. Factor: Reserves.<br> BUYER - GENERAL COMMENT (2022-11-14): Exception mitigated on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-14): Exception waived. Updated approval received in trailing documents approving exception for cost of conversion $`100,000. Comp factors, reserves and FICO.<br> REVIEWER - GENERAL COMMENT (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br> REVIEWER - WAIVED COMMENT (2022-11-10): Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000217 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Approved exception at origination for missing Law & Ordinance coverage. Comp Factor - Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for missing Law & Ordinance coverage. Comp Factor - Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000218 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] AUS Discrepancy / Guidelines Discrepancy - Guideline Issue: Ineligible borrower<br> [2] Asset Calculation / Analysis - Guideline Requirement: Available for Reserves discrepancy.: Calculated Available for Reserves of is less than Guideline Available for Reserves of . | Seller Second term is < 3 years.<br> Approved exception at origination for FT investor on investor auto svc purchase at 70% LTV . comp factor FICO<br> FT investor with $0 reserves (Approval assets section reflects $64k verified, final settlement statement reflects 73k required to close). Strong reserves is listed as a comp factor for approved exception. | BUYER - GENERAL COMMENT (2022-11-16): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for term of 2nd loan. Comp factor, FICO.<br> REVIEWER - WAIVED COMMENT (2022-11-02): Approved exception at origination for FT investor on investor XXXX purchase at 70% LTV . comp factor FICO<br> BUYER - GENERAL COMMENT (2022-11-16): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for First Time Investor reserves. Comp factor, FICO. | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000219 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] AUS Discrepancy / Guidelines Discrepancy - Guideline Issue: Ineligible borrower<br> [2] Asset Calculation / Analysis - Guideline Requirement: Available for Reserves discrepancy.: Calculated Available for Reserves of is less than Guideline Available for Reserves of .<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for First Time Investor with LTV > 65% on owner user commercial condo. Comp Factor: FICO<br> FT investor with $0 reserves (verified funds of $110k < funds req'd to close of $115k), furthermore, reserves used as a comp factor for approved exception waivers.<br> Approved exception at origination for missing VOR-primary; borrower lives rent free. Comp Factor: FICO. | REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for First Time Investor with LTV > 65% on owner user commercial condo. Comp Factor: FICO<br> BUYER - GENERAL COMMENT (2022-11-16): Exception noted on uploaded approval, and exceptions mitigated with another comp factor<br> REVIEWER - WAIVED COMMENT (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for reserves. Comp factor, FICO.<br> REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for missing VOR-primary; borrower lives rent free. Comp Factor: FICO. | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000220 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] AUS Discrepancy / Guidelines Discrepancy - Guideline Issue: Ineligible borrower<br> [2] General - Insufficient Hazard Insurance<br> [2] General - LTV does not meet guidelines<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for First Time Investor with LTV > 70% on owner user commercial condo. Comp. Factors: Reserves, Seasoned Business.<br> Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: Strong Reserves.<br> Approved exception at origination for LTV > 70% on owner user commercial condo First Time Investor. Comp. Factors: Reserves, Seasoned Business.<br> Missing VOM-primary; mortgage in spouses name. An approved exception is not documented. | REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for First Time Investor with LTV > 70% on owner user commercial condo purchase. Comp. Factors: Reserves, Seasoned Business.<br> REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: Strong Reserves.<br> REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for LTV > 70% on owner user commercial condo purchase by First Time Investor. Comp. Factors: Reserves, Seasoned Business.<br> BUYER - GENERAL COMMENT (2022-11-16): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for VOM. Comp factor, reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000221 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Ineligible property<br> [2] General - Missing Document: Lease Agreement not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for DSCR < 1.2x for multifamily subject property. Comp Factor - Seasoned Investor.<br> Approved exception at origination for < 2 active major Tradelines. Comp Factor - Seasoned Investor.<br> Approved exception at origination for deferred maintenance. Comp Factor - Seasoned Investor.<br> Approved exception at origination for missing leases for 2 units (which are listed as XXXX). Comp Factor - Seasoned Investor.<br> Approved exception at origination for missing VOR- primary; guarantor lives rent free. Comp Factor - Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for DSCR < 1.2x for multifamily subject property. Comp Factor - Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for < 2 active major Tradelines. Comp Factor - Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for deferred maintenance. Comp Factor - Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for missing leases for 2 subject units (which are listed as XXXX). Comp Factor - Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-09): Approved exception at origination for missing VOR- primary; guarantor lives rent free. Comp Factor - Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000285 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General Appraisal Requirements - Subject is a refinance and property is listed for sale.: Valuation Type: Appraisal / Valuation Report Date: XX/XX/XXXX<br> [2] General - The property has been listed for sale in the last 12 months. | Cash out on property with less than 12 months value seasoning. VCC Analyst Review value used which was > recent purchase price. No approved exception documented.<br> Missing evidence that listing has been canceled or expired. | BUYER - GENERAL COMMENT (2022-11-18): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for cashout on held < 12 mos & listed within 6 mos.. comp Factor: FICO<br> BUYER - GENERAL COMMENT (2022-11-18): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing cancelled listing agreement. comp Factor: FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000286 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000287 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] AUS Discrepancy / Guidelines Discrepancy - Loan amounts less than $75,000 are not permitted according to the guidelines<br> [2] Credit Documentation - Missing lease Agreement<br> [2] General - The property has been listed for sale in the last 12 months. | Approved exception at origination for loan amount < $75k. Comp factor; Seasoned Investor.<br> Missing lease<br> Cash out on property held < 12 mos using AV > PP. An approved exception is not documented | REVIEWER - WAIVED COMMENT (2022-11-15): Approved exception at origination for loan amount < $75k. Comp factor; Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Lease. comp Factor: Seasoned investor<br> BUYER - GENERAL COMMENT (2022-11-18): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for cashout on property held < 12 mos. comp Factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000288 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000289 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - LTV does not meet guidelines<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | < 2 major tradelines on credit report.<br> Foreign investor with LTV> 65%.<br> Approved exception at origination for VOM-primary. Comp Factor - FICO. | BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for < 2 active major tradelines. comp Factor: Seasoned investor, FICO<br> BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Foreign investor with LTV> 65%. comp Factor: Seasoned investor, FICO<br> REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for VOM-primary. Comp Factor - FICO. | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000290 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] Credit Documentation - Missing lease Agreement | Missing VOR-Primary (lives rent free). An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-11-17): Exception noted on uploaded approval<br> REVIEWER - GENERAL COMMENT (2022-11-17): Exception remains. Unable to substantiate the comp factors, reserves and pride of ownership. No reserves verified and property is tenant occupied, unable to verify who maintained property.<br> BUYER - GENERAL COMMENT (2022-11-22): Corrected Uploaded<br> REVIEWER - WAIVED COMMENT (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing VOR-Primary (lives rent free). comp Factor: seasoned investor, Seasoned Business<br> BUYER - GENERAL COMMENT (2022-11-17): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for Lease Agreement. Comp factors, seasoned investor and seasoned business. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000291 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000292 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Insufficient Hazard Insurance<br> [2] Application / Processing - Missing Document: Proof of Residency Status not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | No active major tradelines on credit report.<br> EOI reflects loss of use and not Loss of Rents coverage (landlord coverage is not indicated).<br> Guarantor DL reflects subject property address as primary residence.<br> Missing VOR-primary; guarantor lives rent free. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for < 2 active major tradelines. comp Factor: Seasoned investor<br> BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage. comp Factor: Seasoned investor<br> BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Guarantor DL address matching subject property address. comp Factor: seasoned investor<br> BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary; guarantor lives rent free. comp Factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000293 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000294 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Ineligible property | Rural subject property. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Rural subject property. comp Factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000295 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for FICO<650. Comp factor: LTV<br> Unable to substantiate use of strong reserves as sole comp factor for Approved exception for missing VOR - primary; guarantor lives rent free. Comp factor 2 is listed as Strong reserves, however approval assets section is not complete. | REVIEWER - WAIVED COMMENT (2022-11-15): Approved exception at origination for FICO<650. Comp factor: LTV<br> BUYER - GENERAL COMMENT (2022-11-21): New comp factor shown on uploaded<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for issing VOR - primary; guarantor lives rent free. comp Factor: LTV | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000296 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - FICO below 650<br> [2] Application / Processing - Missing Document: Proof of Residency Status not provided | Missing required US bank stmt for foreign national.<br> Approved exception at origination for FICO< 650. Comp factor; Seasoned Investor.<br> Missing Green card/VIsa for foreign national guarantor (an employment auth card found in file does not evidence residency status). | BUYER - GENERAL COMMENT (2022-12-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing US Bank account. Comp factor, seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-11-15): Approved exception at origination for FICO< 650. Comp factor; Seasoned Investor.<br> BUYER - GENERAL COMMENT (2022-12-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing green card or passport. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000297 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Reverification of rent is inconsistent with original VOR | Approved exception at origination for Missing VOR-primary; borrower lives rent free. Comp factor: seasoned investor | REVIEWER - WAIVED COMMENT (2022-11-16): Approved exception at origination for Missing VOR-primary; borrower lives rent free. comp factor: seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000298 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650 | Approved exception at origination for FICO<650. Comp factor; LTV. | REVIEWER - WAIVED COMMENT (2022-11-15): Approved exception at origination for FICO<650. Comp factor; LTV. | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000299 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - FICO below 650<br> [2] Application / Processing - Missing Document: Proof of Residency Status not provided | Missing required US bank stmt for foreign national.<br> Approved exception at origination for FICO below 650. Comp factor; Seasoned Investor.<br> Missing Green card/VIsa for foreign national guarantor (an employment auth card found in file does not evidence residency status). | BUYER - GENERAL COMMENT (2022-12-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for no US Bank account. Comp factor, seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-11-15): Approved exception at origination for FICO below 650. Comp factor; Seasoned Investor.<br> BUYER - GENERAL COMMENT (2022-12-21): Exception noted on uploaded approvaal<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing green card/visa. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000300 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] Application / Processing - Missing Document: Verification of Down Payment Funds not provided | Missing proof of funds for $18k req'd to close per final settlement stmt > 10% of loan as required (Approval assets section is not complete and bank stmt in file reflects balance of $2k). | BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for unverified funds to close. comp Factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000301 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing lease Agreement | Missing lease on a refinance. | BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for 100% vacancy/missing lease. comp Factor: LTV, FICO | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000302 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650 | Approved exception at origination for FICO < 650. Comp Factor - Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for FICO < 650. Comp Factor - Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000303 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Missing VOR-primary; borrower lives rent free. An approved exception is not documented | BUYER - GENERAL COMMENT (2022-11-21): 11/21/2022 Exception written<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception forMissing VOR-primary; borrower lives rent free. . comp Factor: Seasoned investor, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000304 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000305 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Ineligible property<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] General - Property has been listed for sale in the past 12 months. | Approved exception at origination for rural subject property. Comp factor: Seasoned investor<br> Approved exception at origination for missing VOR-primary 12 mo pay history (pays cash). Comp factor: Seasoned investor<br> Approved exception at origination for cashout on property listed within 6 mos. Comp factor: Seasoned investor | REVIEWER - WAIVED COMMENT (2022-11-15): Approved exception at origination for rural subject property. comp factor: Seasoned investor<br> REVIEWER - WAIVED COMMENT (2022-11-15): Approved exception at origination for missing VOR-primary 12 mo pay history (pays cash). comp factor: Seasoned investor<br> REVIEWER - WAIVED COMMENT (2022-11-15): Approved exception at origination for cashout on property listed within 6 mos. comp factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000306 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Documentation - Missing Document: Credit Report not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for credit report aged > 60 days. Comp factor: Seasoned investor<br> Approved exception at origination for missing VOM-primary 12 mo pay history (reverse mortgage). Comp factors: Seasoned Investor, FICO. | REVIEWER - WAIVED COMMENT (2022-11-16): Approved exception at origination for credit report aged > 60 days. comp factor: Seasoned investor<br> REVIEWER - WAIVED COMMENT (2022-11-16): Approved exception at origination for missing VOM-primary 12 mo pay history (reverse mortgage). Comp factors: Seasoned Investor, FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000307 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | EOI (owners policy) reflects loss of use and not loss of rents coverage (landlord coverage not indicated). | BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage. comp Factor: FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000308 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - FICO below 650 | Unable to determine comp factor for Approved exception for FICO below 650. Unmitigated. | BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for FICO < 650. comp Factor: LTV<br> REVIEWER - GENERAL COMMENT (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor. | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000309 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for No active major tradelines for both guarantors. Comp Factors: Reserves, LTV.<br> Approved exception at origination for missing VOR-primary; both guarantors live Rent Free. Comp Factors - Reserves, LTV. | REVIEWER - WAIVED COMMENT (2022-11-15): Approved exception at origination for No active major tradelines for both guarantors. Comp Factors: Reserves, LTV.<br> REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for missing VOR-primary; both guarantors live Rent Free. Comp Factors - Reserves, LTV. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000310 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] AUS Discrepancy / Guidelines Discrepancy - Guideline Issue: Ineligible borrower | Approved exception at origination for FT investor with LTV > 70%. Comp factor: FICO | REVIEWER - WAIVED COMMENT (2022-11-16): Approved exception at origination for FT investor with LTV > 70% on subject SFR purchase. comp factor: FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000311 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] General - Missing Document: Comparable Rent Schedule not provided | Hurricane deductible of 5% on $XXXXk coverage amount exceeds guideline max wind deductible of $25k<br> 1004 appraisal is missing a comparable rent schedule/ market rent analysis | BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for wind deductible > $25k. comp Factor: Reserves, FICO<br> BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing comparable rent schedule comp Factor: Reserves, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000312 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines | < 2 active major tradelines on credit report. | BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for < 2 active major tradelines comp Factor: Reserves | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000313 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000314 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Approved exception at origination for Liability insurance coverage < guideline min requirement of $300,000. Comp factor: FICO. | REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for Liability insurance coverage < guideline min requirement of $300,000. Comp factor: FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000315 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000316 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Eligibility - Guideline Issue: Derogatory mortgage payments outside of credit guidelines<br> [2] Application / Processing - Missing Document: Business Purpose Letter of Intent not provided | Approved exception at origination for 1x30 within 90 days on a VCC mortgage. Comp factor: Seasoned Investor.<br> Missing signec copy of Business Purpose Disclosrue. | REVIEWER - WAIVED COMMENT (2022-11-16): Approved exception at origination for 1x30 within 90 days on a VCC mortgage. Comp factor: Seasoned Investor.<br> BUYER - GENERAL COMMENT (2022-12-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing BP disclosure. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000317 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Miscellaneous - Credit Exception: | Missing Required US bank stmt for foreign investor guarantor. | BUYER - GENERAL COMMENT (2022-12-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing US Bank account. Comp factors, seasoned investor and LTV. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000318 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | EOI (owners policy) reflects loss of use and not loss of rents coverage. (landlord coverage is not indicated) | BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage. comp Factor: Seasoned investor, reserves | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000319 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000320 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650 | Approved exception at origination for FICO < 650. Comp Factors: LTV. | REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for FICO < 650. Comp Factors: LTV. | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000321 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] AUS Discrepancy / Guidelines Discrepancy - Guideline Issue: Ineligible borrower<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for First Time Investor with LTV > 65% on owner user office. Comp Factors - Reserves, Seasoned Business.<br> Approved exception at origination for missing VOR-primary; mortgage in spouse's name. Comp Factors - Reserves, Seasoned Business. | REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for First Time Investor with LTV > 65% on owner user office purchase Comp Factors - Reserves, Seasoned Business.<br> REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for missing VOR-primary; mortgage in spouse's name. Comp Factors - Reserves, Seasoned Business. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000322 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000323 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] AUS Discrepancy / Guidelines Discrepancy - Guideline Issue: Ineligible borrower<br> [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Insufficient Hazard Insurance<br> [2] Application / Processing - Missing Document: Proof of Residency Status not provided | Approved exception at origination for FT investor with LTV > 70% . Comp factor: FICO, Reserves<br> Approved exception at origination for < 2 active major tradelines. Comp factor: Reserves<br> Missing required min $2MM gen agg liability coverage<br> Missing green card/visa/passport (SS card reflects 'valid only with DHS auth'). | REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for FT investor with LTV > 70% . comp factor: FICO, Reserves<br> REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for < 2 active major tradelines. comp factor: Reserves<br> BUYER - GENERAL COMMENT (2022-11-17): Exception noted on uploaded approval<br> BUYER - GENERAL COMMENT (2022-11-17): Prior upload was for a different loan, please disregard<br> REVIEWER - WAIVED COMMENT (2022-11-22): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing required $2MM gen aggregate liability coverage for subject traditional 1 property type. comp Factor: Reserves<br> BUYER - GENERAL COMMENT (2022-12-19): Uploaded Work Auth Card and I797 for extension. Exception also noted on uploaded approval for Work Auth card<br> REVIEWER - GENERAL COMMENT (2022-12-20): Exception remains- Employment auth card provided does not evidence residency status,<br> REVIEWER - WAIVED COMMENT (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing required Visa/Greencard. comp Factor: Reserves, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000324 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] Credit Documentation - Missing lease Agreement | Approved exception at origination for DCR. Comp Factor - FICO.<br> Missing leases for both subject units on subject investor retail refi with loan > $500k | REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for DCR. Comp Factor - FICO.<br> BUYER - GENERAL COMMENT (2022-11-17): This transaction is purchse transaction. Lease agreements are not required.<br> BUYER - GENERAL COMMENT (2022-11-17): Exception noted on uploaded approval<br> REVIEWER - GENERAL COMMENT (2022-11-22): exception remains- missing leases is not documented as an approved exception on uploaded approval WS<br> BUYER - GENERAL COMMENT (2022-11-28): Uploaded<br> REVIEWER - WAIVED COMMENT (2022-11-28): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Leases. comp Factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000325 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000326 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | DSCR < 1.20x for investor multifamily property with loan > $500k. an approved exception is not documented<br> Missing VOR-primary, guarantor lives rent free. An approved exception is not documented. | REVIEWER - WAIVED COMMENT (2022-11-22): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for DSCR < 1.20x for investor multifamily property with loan > $500k. comp Factor: Seasoned investor, FICO<br> BUYER - GENERAL COMMENT (2022-11-17): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-22): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing VOR-primary, guarantor lives rent free. comp Factor: Seasoned investor, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000327 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000328 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Ineligible property<br> [2] General - LTV does not meet guidelines<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] Credit Documentation - Missing lease Agreement | Approved exception at origination for $XXXXk in deferred maint on subject. Comp Factors - Seasoned Investor, FICO.<br> Approved exception at origination for LTV > 70% on investor retail refinance. Comp Factors - Seasoned Investor, FICO.<br> Approved exception at origination for VOR-primary guarantor lives rent free. Comp Factors - Seasoned Investor, FICO.<br> Approved exception at origination for 50% vacancy/missing lease. Comp Factors - Seasoned Investor, FICO. | REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for $XXXXk in deferred maint on subject. Comp Factors - Seasoned Investor, FICO.<br> REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for LTV > 70% on investor retail refinance. Comp Factors - Seasoned Investor, FICO.<br> REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for VOR-primary guarantor lives rent free. Comp Factors - Seasoned Investor, FICO.<br> REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for 50% vacancy/missing lease. Comp Factors - Seasoned Investor, FICO. | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000329 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] AUS Discrepancy / Guidelines Discrepancy - Guideline Issue: Ineligible borrower<br> [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for First Time investor with LTV > 65% on owner user XXXX propetty purchase . Comp Factors - Reserves, Seasoned Business.<br> Approved exception at origination for < 2 active major tradelines. Comp Factors - Reserves, Seasoned Business.<br> Approved exception at origination for VOR- primary; guarantor lives rent free. Comp Factors - Reserves, Seasoned Business. | REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for First Time investor with LTV > 65% on owner user XXXX propetty purchase . Comp Factors - Reserves, Seasoned Business.<br> REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for < 2 active major tradelines. Comp Factors - Reserves, Seasoned Business.<br> REVIEWER - WAIVED COMMENT (2022-11-14): Approved exception at origination for VOR- primary; guarantor lives rent free. Comp Factors - Reserves, Seasoned Business. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000380 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000381 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000382 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000383 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000384 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for FICO <650. Comp factor: Seasoned investor, LTV<br> Approved exception at origination for missing VOR-primary; borrower lives rent free. Comp factor: seasoned investor & LTV. | REVIEWER - WAIVED COMMENT (2022-11-21): Approved exception at origination for FICO <650. Comp factor: Seasoned investor, LTV<br> REVIEWER - WAIVED COMMENT (2022-11-21): Approved exception at origination for missing VOR-primary; borrower lives rent free. Comp factor: seasoned investor & LTV. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000385 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] General - Ineligible property<br> [2] General - Insufficient Hazard Insurance | Approved exception at origination for FICO <650. Comp Factor; LTV<br> Rural subject property. An approved exception is not documented.<br> EOI does not reflect loss of rents coverage. | REVIEWER - WAIVED COMMENT (2022-11-17): Approved exception at origination for FICO <650. Comp Factor; LTV<br> BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Rural subject property. comp Factor: LTV<br> BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing loss of rents coverage. comp Factor: LTV | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000386 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000387 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Ineligible property | Approved exception at origination for rural subject property. comp factors: FICO, Seasoned investor | REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for rural subject property. comp factors: FICO, Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000388 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for FICO<650 . Comp factors: LTV, reserves<br> Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factor: reserves. | REVIEWER - WAIVED COMMENT (2022-11-21): Approved exception at origination for FICO<650 . Comp factors: LTV, reserves<br> REVIEWER - WAIVED COMMENT (2022-11-21): Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factor: reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000389 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000390 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Application / Processing - Missing Document: Proof of Residency Status not provided | Missing required Visa/green card for foreign national. An approved exception is not documented | BUYER - GENERAL COMMENT (2022-11-28): Exception noted on uploaded approval<br> REVIEWER - GENERAL COMMENT (2022-11-29): Exception remains- uploaded exception name is 'NJ trad 1 owner occ cert.' subject is located in TX<br> BUYER - GENERAL COMMENT (2022-12-03): Exception corrected on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-05): Exception waived. Updated approval received in trailing documents approving exception for Visa/Green card. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000391 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] Guideline Issue - Loan product type is ineligible per guidelines.<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | EOI reflects 80% coinsurance. An approved exception is not documented.<br> Interest only period exceeds 5 years. An approved exception is not documented.<br> Missing VOM/VOR- Primary and VOM- subject. | BUYER - GENERAL COMMENT (2022-11-28): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for 80% coinsurance. comp Factor: Seasoned investor, FICO<br> BUYER - GENERAL COMMENT (2022-12-03): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-05): Exception waived. Updated approval received in trailing documents approving exception for Interest only Term. Comp factors, seasoned investor and FICO.<br> BUYER - GENERAL COMMENT (2022-11-28): Primary rated on VCC credit from xx/xx-xx/xx, then institutional VOM provided confirming payments through xx/xxxx, exception written for subject property shown on uploaded approval<br> REVIEWER - GENERAL COMMENT (2022-11-29): Exception remains- an exception for < 12 mos VOR/VOM-primary is not documented. (lender response comment affirms only 10 mos history)<br> BUYER - GENERAL COMMENT (2022-12-03): Corrected Uploaded<br> REVIEWER - WAIVED COMMENT (2022-12-05): Exception waived. Updated approval received in trailing documents approving exception for VOM. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000392 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000393 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Application / Processing - Missing Document: Proof of Residency Status not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Guarantor DL reflect subject property address as primary residence.<br> Missing VOR-primary; guarantor lives rent free. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for DL address discrepancy. comp Factor: Seasoned investor, Seasoned Business<br> BUYER - GENERAL COMMENT (2022-11-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for DMissing VOR-primary; guarantor lives rent free. comp Factor: Seasoned investor, Seasoned Business | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000394 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Eligibility - Guideline Issue: Derogatory consumer credit outside of credit guidelines<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for Bankruptcy within the last 24 months. Comp factor: reserves.<br> Approved exception at origination for missing VOR-primary 12 mos pay history. Comp factor: reserves | REVIEWER - WAIVED COMMENT (2022-11-21): Approved exception at origination for Bankruptcy within the last 24 months. Comp factor: reserves.<br> REVIEWER - WAIVED COMMENT (2022-11-21): Approved exception at origination for missing VOR-primary 12 mos pay history. Comp factor: reserves | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000395 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000396 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] General - Insufficient Hazard Insurance<br> [2] General - The property has been listed for sale in the last 12 months. | Unable to substantiate use of ' Pride of ownership.' as sole comp factor for Approved exception for FICO< 650. File does not contain documentation supporting evidence for pride of ownership.<br> EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location.<br> Cash out on 2x subject properties held < 6 mos and using AV > PP. An approved exception is not documented | BUYER - GENERAL COMMENT (2022-11-28): Exception mitigated<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for FICO< 650. comp Factor: LTV<br> BUYER - GENERAL COMMENT (2022-11-28): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for blanket liability coverage. comp Factor: LTV<br> BUYER - GENERAL COMMENT (2022-11-28): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Cashout on properties held < 6 mos. comp Factor: LTV | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000397 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing lease Agreement<br> [2] General - Property has been listed for sale in the past 12 months. | Approved exception at origination for vacancy/ missing leases on one of 2 properties . Comp factor: seasoned investor.<br> Approved exception at origination for cash out on 1 of 2 properties held < 12 mos . Comp factor: seasoned investor. | REVIEWER - WAIVED COMMENT (2022-11-16): Approved exception at origination for 70.8% vacancy/ missing leases on one of 2 subject properties . Comp factor: seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-11-17): Approved exception at origination for cashout on 1 of 2 subject properties which was held < 12 mos . Comp factor: seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000398 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for FICO<650. Comp factor, Seasoned Investor.<br> Approved exception at origination for < 2 active major tradelines. Comp factor, Seasoned Investor.<br> Approved exceptions at origination for 1) Missing VOR-primary; guarantor lives rent free and 2) missing VOM-subject 12 mos pay history. Comp factor; Seasoned Investor. | REVIEWER - GENERAL COMMENT (2022-11-22): Approved exception at origination for FICO<650. Comp factor, Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for < 2 active major tradelines. Comp factor, Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-22): Approved exceptions at origination for 1) Missing VOR-primary; guarantor lives rent free and 2) missing VOM-subject 12 mos pay history. Comp factor; Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000399 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for missing VOM-primary; mortgage in spouses name. Comp factor: seasoned investor. | REVIEWER - WAIVED COMMENT (2022-11-21): Approved exception at origination for missing VOM-primary; mortgage in spouses name. Comp factor: seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000400 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] Credit Documentation - Missing Document: Credit Report not provided<br> [2] General - The property has been listed for sale in the last 12 months. | Missing required cancelled listing agreement for property listed for sale within 6 mos.<br> Credit report aged > 60 days<br> Cash out on property listed within 6 months. | BUYER - GENERAL COMMENT (2022-11-29): Uploaded XXXX print out showing property off market. In addition the appraiser has confirmed the listing was cancelled as of x/xx/xx per MLS. This is sufficient proof of cancelled listing<br> REVIEWER - GENERAL COMMENT (2022-11-29): Exception remains- per MCP 6.6 a cancelled listing agreement is required. ("Properties that have been recently listed (within the past 6 months) must: \* Be off the market (evidenced by expired or cancelled listing agreement))<br> BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing required cancelled listing agreement. comp Factor: LTV, FICO<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for credit report aged > 60 days. comp Factor: Seasoned investor<br> BUYER - GENERAL COMMENT (2022-11-29): Exception noted on uploaded approval<br> REVIEWER - GENERAL COMMENT (2022-11-29): Exception remains- not listed on uploaded approval.<br> BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing handwritten BP LOI. comp Factor: LTV, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000401 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000402 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Guideline Issue - Note loan amount is less than guideline minimum.: Note loan amount of $XXXX is less than guideline minimum loan amount of $75,000. | Unable to determine comp factor for approved exception for loan < $75k; unmitigated. | BUYER - GENERAL COMMENT (2022-11-21): Exception mitigated on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Subject loan amount < $75k. comp Factor: LTV<br> REVIEWER - GENERAL COMMENT (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor. | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000403 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Ineligible property<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Rural property.<br> Missing VOM-primary. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-11-29): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Rural subject property. comp Factor: Seasoned investor, FICO<br> BUYER - GENERAL COMMENT (2022-11-29): Per LOE (with supporting documentation), there is not payment due on primary residence. XXXX in file confirms the sale and documents uploaded all support this. There is not payment to be made, therefore no payment history. This does not need an exception as no payment was to be made.<br> REVIEWER - GENERAL COMMENT (2022-11-29): Exception remains- per LOE provided, guarantor lives rent free. an approved exception is not documented on uploaded approval. ('borrower/guarantor lives rent free' is commonly documented as an exception on other VCC approvals)<br> BUYER - GENERAL COMMENT (2022-12-03): Exception written<br> REVIEWER - WAIVED COMMENT (2022-12-05): Exception waived. Updated approval received in trailing documents approving exception for missing VOR (lives rent free). Comp factor, FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000404 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] General - Ineligible property | unable to determine comp factor for Approved exception for FICO<650. status is 'unmitigated'<br> Subject SFR property appears to be operated as an owner user assisted living facility. Owner Usser SFR is not a permitted property type per guidelines. an approved exception is not documented. | BUYER - GENERAL COMMENT (2022-11-29): Exception mitigated on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for FICO < 650. comp Factor: seasoned investor, seasoned business<br> REVIEWER - GENERAL COMMENT (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br> BUYER - GENERAL COMMENT (2022-11-29): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Subject being owner-user SFR. comp Factor: seasoned investor, seasoned business | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000405 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Unable to determine comp factor for approved exception for "deductible'" listed on updated approval uploaded in trailing docs. Unmitigated. | BUYER - GENERAL COMMENT (2022-12-03): Corrected Uploaded<br> REVIEWER - WAIVED COMMENT (2022-12-05): Exception waived. Updated approval received in trailing documents approving exception for deductible. Comp factor, FICO.<br> REVIEWER - GENERAL COMMENT (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor. | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000406 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for missing VOR-primary; guarantor lives rent free. comp factor: Seasoned investor | REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for missing VOR-primary; guarantor lives rent free. comp factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000407 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | missing VOR-primary ; borrower lives rent free. an approved exception is not documented. | BUYER - GENERAL COMMENT (2022-11-29): Exception noted on uploaded approval<br> BUYER - GENERAL COMMENT (2022-11-29): Corrected assets section noted on uploaded approval.<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary comp Factor: Reserves | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000408 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Eligibility - Guideline Issue: Derogatory mortgage payments outside of credit guidelines<br> [2] General - Ineligible property | Approved exception at origination for FICO< 650. Comp Factors - Seasoned Investor, LTV, Seasoned Business.<br> Approved exception at origination for for 2X30 on subject within 12 months and Primary 1X30 within 12 months. Comp Factors - Seasoned Investor, LTV, Seasoned Business.<br> Approved exception at origination for override of statewide exclusion for subject Owner Occupied/Owner User traditional 1 (mixed use) property located in NJ. Comp Factors - Seasoned Investor, LTV. | REVIEWER - WAIVED COMMENT (2022-11-16): Approved exception at origination for FICO< 650. Comp Factors - Seasoned Investor, LTV, Seasoned Business.<br> REVIEWER - WAIVED COMMENT (2022-11-16): Approved exception at origination for for 2X30 on subject within 12 months, and Primary 1X30 within 12 months). Comp Factors - Seasoned Investor, LTV, Seasoned Business.<br> REVIEWER - WAIVED COMMENT (2022-11-16): Approved exception at origination for override of statewide exclusion for subject Owner Occupied traditional 1 (mixed use) property located in NJ. Comp Factors - Seasoned Investor, LTV. | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000409 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | EOI reflects guarantor as polocy holder/insured and not borrower entity | BUYER - GENERAL COMMENT (2022-11-29): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Guarantor listed as policy holder. comp Factor: Seasoned Business | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000410 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000411 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000412 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - FICO below 650 | Approved exception at origination for FICO < 650. Comp Factors - LTV, Reserves. | REVIEWER - WAIVED COMMENT (2022-11-17): Approved exception at origination for FICO < 650. Comp Factors - LTV, Reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000413 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Ineligible property<br> [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for < 2 active major tradelines. Comp Factors - Seasoned Investor, LTV.<br> Approved exception at origination for override of statewide exclusion for subject Owner Occupied/owner user traditional 1 (mixed use) property located in NJ. Comp Factors - Seasoned Investor, LTV.<br> Missing law & ord coverage A- loss to undamaged portion of bldg.<br> Approved exception at origination for missing VOR-primary; guarantor lives rent-free. Comp Factors - Seasoned Investor, LTV. | REVIEWER - WAIVED COMMENT (2022-11-16): Approved exception at origination for < 2 active major tradelines. Comp Factors - Seasoned Investor, LTV.<br> REVIEWER - WAIVED COMMENT (2022-11-16): Approved exception at origination for overide of statewide exclusion for subject Owner Occupied traditional 1 (mixed use) property located in NJ. Comp Factors - Seasoned Investor, LTV.<br> BUYER - GENERAL COMMENT (2022-11-21): Law and Ord Coverage A is for "increased cost of construction" which is shown on uploaded policy<br> REVIEWER - GENERAL COMMENT (2022-11-22): Exception remains- Specified coverage A- loss to undamaged portion of bldg is not included on uploaded EOI.<br> BUYER - GENERAL COMMENT (2022-11-28): Exception noted<br> REVIEWER - WAIVED COMMENT (2022-11-28): Exception cleared. Updated approval received in trailing documents approving exception for Law & Ordinance coverage. Comp factor, seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-11-16): Approved exception at origination for missing VOR-primary; guarantor lives rent-free. Comp Factors - Seasoned Investor, LTV. | 1 |  |  |  |  |  |  |  |  | Borrower has owned the subject property for at least 5 years.<br>Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000414 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000415 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650 | unable to substantiate use of 'pride of ownership' as sole comp factor for Approved exception at origination for FICO < 650. documented evidence supporting Pride of Ownership was not found in file. | BUYER - GENERAL COMMENT (2022-11-29): Corrected mitigating factor on uploaded<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for FICO < 650. comp Factor: LTV | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000416 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000417 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | missing Law and Ordinance coverage a- loss to undamaged portion of bldg. (only law & ord equip coverage is evidenced,) | BUYER - GENERAL COMMENT (2022-11-29): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage. comp Factor: FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000418 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | BUYER - GENERAL COMMENT (2022-11-29): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for Coinsurance and blanket liability coverage. comp Factor: FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000419 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000420 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Loan File - Missing Document: Hazard Insurance Policy not provided | 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | BUYER - GENERAL COMMENT (2022-11-29): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for coinsurance and blanket liability coverage. comp Factor: FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000421 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 3 | 2 | [2] General - FICO below 650<br> [2] General - Insufficient Hazard Insurance<br> [2] General - Insufficient Hazard Insurance<br> [2] General - Missing Document: Comparable Rent Schedule not provided<br> [2] Loan File - Missing Document: Hazard Insurance Policy not provided<br> [2] Credit Documentation - Missing lease Agreement | Approved exception at origination for FICO<650. Comp factor; LTV.<br> Insufficient coverage on 2 of 3 properties. Insurance is less than loan amount and costs new per appraisal (if provided). Replacement costs estimate not provided.<br> 1) Blanket liability policy without required endorsement for full coverage amount for each covered location (XXXX property not listed as covered property), 2) hurricane deductible of $27.9K on 1 of 3 subject properties exceeds guideline max wind deductible, 3) $XXXXK for XXXX is < appraisal replacement cost and loan amount. 4) $XXXXK for XXXX is < loan amount (appraisal replacement cost not developed) no guaranteed replacement cost and replacement cost estimator not provided.<br> Missing market rent analysis for 1 of 3 properties (Interior BPO did not include market rents).<br> Missing EOI for liability coverage for 1 of 3 properties (missing for XXXX).<br> 1) Missing leases for 1 of 3 subject properties (missing for XXXX). An approved exception is not documented. 2) Missing leases for 2 of 4 units (XXXX). | REVIEWER - WAIVED COMMENT (2022-11-26): Approved exception at origination for FICO<650. Comp factor; LTV.<br> BUYER - GENERAL COMMENT (2022-12-23): Exception noted on uploaded approval. Mitigated by the borrower being a seasoned investor and low ltv<br> REVIEWER - WAIVED COMMENT (2022-12-23): Exceptoin waived. Updated approval received in trailing documents approving exception for insurance coverage. Comp factor, low LTV.<br> BUYER - GENERAL COMMENT (2022-12-21): 1. Exception noted on uploaded approval. 2. Exception noted on uploaded approval. 3. Pending RCE 4. Pending RCE<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for Blanket liability and Wind deductible. Comp factor, LTV. Item #3 listed in separate exception.<br> BUYER - GENERAL COMMENT (2022-12-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing Comparable rent schedule. Comp factor, LTV.<br> BUYER - GENERAL COMMENT (2022-12-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing liability coverage. Comp factor, LTV.<br> BUYER - GENERAL COMMENT (2022-12-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing Lease. Comp factor, LTV. | 3 | [3] Appraisal Documentation - Loan is to be securitized. Appraisal is missing.: Address: XXXX | Missing appraisal on 1 of 3 properties (Interior BPO provided). An approved exception not documented. | BUYER - GENERAL COMMENT (2022-12-21): Exception written for interior BPO<br> REVIEWER - GENERAL COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception to use interior BPO for value. Comp factor, LTV. Per client, "given the low LTV we accepted an interior BPO on this property. This was a borrower accommodation approved by senior management in order to close the loan faster. The other two properties that secure this loan had full appraisals completed." The secondary valuation (desk review) support the value used. |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | D |
| XXXX | XXXX |  | 1000422 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing lease Agreement | Approved exception at origination for < 2 active major tradelines.. Comp factor: LTV, seasoned investor<br> EOI reflects 100% coinsurance,<br> Approved exception at origination for missing lease/ 100% vacancy. Comp factor: LTV, seasoned investor | REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for < 2 active major tradelines.. Comp factor: LTV, seasoned investor<br> BUYER - GENERAL COMMENT (2022-11-29): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Coinsurance. comp Factor: LTV<br> REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for missing lease/ 100% vacancy. Comp factor: LTV, seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000423 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Loan File - Missing Document: Hazard Insurance Policy not provided | Missing subject condo master policy. | BUYER - GENERAL COMMENT (2022-11-29): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing condo master policy. comp Factor: FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000424 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000425 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000426 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] General Appraisal Requirements - Subject is a refinance and property is listed for sale.: Valuation Type: Appraisal / Valuation Report Date: XX/XX/XXXX<br> [2] General - The property has been listed for sale in the last 12 months. | Missing VOM-subject. An approved exception is not documented.<br> Unable to substantiate use of "Pride of ownership" as sole comp factor for Approved exception for incomplete VOR-primary.<br> Missing required cancelled listing agreement for property recently listed within 6 months. An approved exception is not documented.<br> Cash out on property listed within 6 mos with LTV > 70%. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-11-29): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOM-subject. comp Factor: Seasoned investor<br> BUYER - GENERAL COMMENT (2022-11-29): comp factor updated on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for incomplete VOR-primary; < 12 mos pay history provided. comp Factor: Seasoned investor<br> BUYER - GENERAL COMMENT (2022-11-29): Please see uploaded screenshot of XXXX showing dated as of xx/xx/xxxx showing property off market. this is supported by the appraisal whch states the listing was withdrawn x/xx/xxxx per MLS<br> REVIEWER - GENERAL COMMENT (2022-11-29): Exception remains- per MCP 6.6 a cancelled listing agreement is required. ("Properties that have been recently listed (within the past 6 months) must: \* Be off the market (evidenced by expired or cancelled listing agreement))<br> BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing required cancelled listing agreement. comp Factor: Seasoned investor<br> BUYER - GENERAL COMMENT (2022-11-29): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for cashout on property held < 6 mos. comp Factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000427 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] Credit Documentation - Missing lease Agreement<br> [2] General - The property has been listed for sale in the last 12 months. | Missing VOR-primary; guarantor lives rent free. An approved exception is not documented<br> Subject is 100% vacant per analyst review. An approved exception is not documented.<br> Cash out on property held < 12 months using appraisal value > original purchase price. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-11-29): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary; guarantor lives rent free. comp Factor: Seasoned investor, FICO<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for 100% vacancy/missing lease. comp Factor: LTV, FICO<br> BUYER - GENERAL COMMENT (2022-11-29): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for cashout on recent acquisition. comp Factor: LTV, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000428 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General Appraisal Requirements - Subject is a refinance and property is listed for sale.: Valuation Type: Appraisal / Valuation Report Date: XX/XX/XXXX<br> [2] General - The property has been listed for sale in the last 12 months. | Missing required cancelled listing agreement for subject property that is currently listed for sale per appraisal.<br> Cash out on property that is currently listed for sale with LTV > 70%. An approved exception is not documented | BUYER - GENERAL COMMENT (2022-12-01): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for missing canceled listing. Comp factors, seasoned investor, seasoned business, and FICO.<br> BUYER - GENERAL COMMENT (2022-12-01): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for cash out on property listed and LTV > 70%. Comp factors, seasoned investor, seasoned business, and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000429 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Loan File - Missing Document: Hazard Insurance Policy not provided | Missing subject Condo master policy. | BUYER - GENERAL COMMENT (2022-12-01): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for missing HOA Policy. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000430 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000431 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Ineligible property<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for FICO < 650. Comp factor; Seasoned Investor.<br> No active major tradelines on credit report.<br> Approved exception at origination for deferred maint > $20k. Comp factor: seasoned investor<br> Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factor; seasoned investor. | REVIEWER - WAIVED COMMENT (2022-11-27): Approved exception at origination for FICO < 650. Comp factor; Seasoned Investor.<br> BUYER - GENERAL COMMENT (2022-12-01): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for tradelines. Comp factor, LTV.<br> REVIEWER - WAIVED COMMENT (2022-11-27): Approved exception at origination for deferred maint > $20k. comp factor: seasoned investor<br> REVIEWER - WAIVED COMMENT (2022-11-27): Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factor; seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000432 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] Credit Eligibility - Guideline Issue: Derogatory consumer credit outside of credit guidelines<br> [2] General - Ineligible property<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | 2 Mortgage term less than 3 years. An approved exception is not documented.<br> Approved exception at origination for < 2 active major tradelines. comp factor: reserves<br> Approved exception at origination for chargeoffs > $25k. comp factor: reserves<br> Owner-user SFR, an ineligible property type.<br> Missing VOR-primary (lease in parents name). | BUYER - GENERAL COMMENT (2022-12-01): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-01): Exception waived. Updated approval received in trailing documents approving the Second Mortgage term. Comp factor, reserves.<br> REVIEWER - WAIVED COMMENT (2022-11-23): Approved exception at origination for < 2 active major tradelines. comp factor: reserves<br> REVIEWER - WAIVED COMMENT (2022-11-23): Approved exception at origination for chargeoffs > $25k. comp factor: reserves<br> BUYER - GENERAL COMMENT (2022-12-01): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-01): Exception waived. Updated approval received in trailing documents approving occupancy type. Comp factors, seasoned business and reserves.<br> BUYER - GENERAL COMMENT (2022-12-01): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for missing VOR. Comp factor, reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000433 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | < 12 months VOR-primary provided. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-12-01): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for VOR < 12 months. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000434 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Application / Processing - Missing Document: Proof of Residency Status not provided<br> [2] Application / Processing - Missing Document: Proof of Residency Status not provided | Missing Passport and Visa/Greencard for foreign national.<br> Unable to determine comp factor for Approved exception for expired Work auth card. Unmitigated. | BUYER - GENERAL COMMENT (2022-12-01): Exception noted on uploaded aprpoval<br> REVIEWER - WAIVED COMMENT (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for missing passport and Visa/Green card. Comp factor, FICO.<br> BUYER - GENERAL COMMENT (2022-12-01): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for Work Authorization expired. Comp factor, FICO.<br> REVIEWER - GENERAL COMMENT (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor. | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000435 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | EOI reflects loss of use and not loss of rents coverage (landlord policy type is not indicated). | BUYER - GENERAL COMMENT (2022-12-01): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for Loss of Use coverage. Comp factors, LTV and seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000436 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000437 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Insufficient Hazard Insurance | Interest only period exceeds 5 years. An approved exception is not documented.<br> 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | BUYER - GENERAL COMMENT (2022-12-01): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-01): Exceptoin waived. Updated approval received in trailing documents approving exception for 10 year interest only. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-12-01): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for Blank Policy without endorsement. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000438 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000439 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] General - Missing Document: Lease Agreement not provided | Approved exception at origination for missing Law and Ordinance coverage. Comp factor, seasoned investor.<br> Unable to determine comp. factor for approved exception at origination for missing lease/50% vacancy. Unmitigated. | REVIEWER - WAIVED COMMENT (2022-12-01): Approved exception at origination for missing Law and Ordinance coverage. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-12-01): Exception mitigated on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for 50% Vacancy. Comp factor, seasoned investor.<br> REVIEWER - GENERAL COMMENT (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000440 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] General - The property is ineligible. | Missing VOR-primary; Borrower lives rent free. An approved exception is not documented.<br> Approved exception at origination for override of statewide exclusion for traditional 1 property type located in IL . Comp. Factors: Seasoned Investor, FICO. | BUYER - GENERAL COMMENT (2022-12-05): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception cleared. Updated approval received in trailing documents approving exception for missing VOR. Comp factors, seasoned investor and FICO.<br> REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for override of statewide exclusion for traditional 1 property type located in IL . Comp. Factors: Seasoned Investor, FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000441 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] General - Missing Document: Lease Agreement not provided<br> [2] General - Property has been listed for sale in the past 12 months. | Missing Law & Ordinance coverage A<br> Approved exception at origination for missing lease/ 50% vacancy. Comp. Factors: FICO, Reserves, Seasoned Investor.<br> Approved exception at origination for cashout on property held < 6 mos and using AV > PP. Comp. Factors: FICO, Reserves, Seasoned Investor. | BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived. Updated approval received in trailing documents approving exception for Law and Ordinance coverage. Comp factor, FICO.<br> REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for missing lease/ 50% vacancy. Comp. Factors: FICO, Reserves, Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for cashout on property held < 6 mos and using AV > PP. Comp. Factors: FICO, Reserves, Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000442 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Debt service ratio issue<br> [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Underwritten vacancy of 3% per Analyst review is < guideline min vacancy assumption of 5%.<br> DSCR is < 1.25x per Guidelines for investor Traditional II subject property with loan amount of $XXXXk<br> EOI reflects missing Liability coverage type and /occurrence and gen aggregate liability coverage details<br> Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp. Factors: FICO, LTV, Reserves. | BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived. Updated approval received in trailing documents approving exception for vacancy ratio used in underwriting. Comp factors, LTV and FICO.<br> BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - GENERAL COMMENT (2022-12-06): Exception remains. Policy exception on approval uploaded for DCR is unmitigated with no comp factors.<br> BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for DSCR of < 1.25x. comp Factor: FICO, LTV<br> BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-06): Excepton waived. Updated approval received in trailing documents approving exception for missing Liability coverage each occurance. Comp factors, LTV and FICO.<br> REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp. Factors: FICO, LTV, Reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000443 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] General - The property has been listed for sale in the last 12 months. | DSCR < 1.20x guideline min for traditional 1 with loan amount of $XXXXk. An approved exception is not documented.<br> Missing VOR-primary; guarantor lives rent free. an approved exception is not documented<br> Approved exception at origination for cashout on property held < 6 months using an AV > original PP. Comp. Factors: Seasoned Investor, FICO. | BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived. Updated approval received in trailing documents approving exception for DCR < 1.2. Comp factors, Seasoned investor and FICO.<br> BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived. Updated approval received in trailing documents approving exception for Missing VOR. Comp factors, LTV and FICO.<br> REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for cashout on property held < 6 months using an AV > original PP. Comp. Factors: Seasoned Investor, FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000444 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Insufficient Hazard Insurance | Missing 1) required US bank acct for foreign national borrower (only a 1031 exchange stmt found in file) 2) third party evidence for proof of primary for foreign investor borrower. (LOE in file from borrower references residence in home country with no third party documentation of this address, however application & greencard in file reflects that borrower is perm resident alien and no VOM/VOR was provided for US address.) 3) proof of Minimum 1 investment in S required per MCP 5.6<br> < 2 active major tradelines on credit report.<br> 5% wind hail deductible on $1.18MM coverage amount exceeds guideline max wind deductible of $25k | BUYER - GENERAL COMMENT (2022-12-06): US bank statement uploaded. The remaining exception is pending further clarification<br> REVIEWER - GENERAL COMMENT (2022-12-06): Exception remains. Bank statement received all other items still remain.<br> BUYER - GENERAL COMMENT (2022-12-21): Per LOE in file, borrower resides out of the country. An exception has been granted for no US Investment.<br> REVIEWER - WAIVED COMMENT (2022-12-23): Exception waived. Updated approval received in trailing documents approving exception for no US investment. Comp factor, LTV. Item #1 and 2 cleared.<br> BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived. Updated approval received in trailing documents approving exception for tradelines. Comp factors, LTV and FICO.<br> BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived. Updated approval received in trailing documents approving exception for Wind/Hail deductible.. Comp factor, LTV. | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000445 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for FICO < 600. Comp. Factors: LTV, Seasoned Investor.<br> Approved exception at origination for missing law & ordinance coverage A. Comp. Factor: Seasoned Investor.<br> Approved exception at origination for missing VOM-subject 12 month payment history. Comp. Factors: LTV, Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for FICO < 600. Comp. Factors: LTV, Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for missing law & ordinance coverage A. Comp. Factor: Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for missing VOM-subject 12 month payment history. Comp. Factors: LTV, Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000446 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] Miscellaneous - Credit Exception:<br> [2] General - FICO below 650<br> [2] AUS Discrepancy / Guidelines Discrepancy - Guideline Issue: Ineligible borrower<br> [2] General - Insufficient Hazard Insurance<br> [2] General - LTV does not meet guidelines<br> [2] Application / Processing - Missing Document: Business Purpose Letter of Intent not provided<br> [2] Application / Processing - Missing Document: Proof of Residency Status not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] Mortgage / Program Eligibility - Subordinate financing not permitted | Missing US bank acct for 1 of 2 guarantors or the borrower entity (bank acct in file is owned by 1 of 2 guarantors with a sole proprietor status DBA)<br> Unable to determine comp. factors for approved exception at origination for override of statewide exclusion for subject Owner-occ Trad 1 property located in NJ. Unmitigated.<br> Approved exception at origination for FICO < 650 for 1 of 2 guarantors. Comp. Factor: Reserves.<br> Borrower is FT investor and foreign national. Proof of minimum 1 investment in US is required.<br> Missing loss of rents/Business income coverage.<br> Approved exception at origination for LTV > 70% & CLTV > 80% for First time investor. Comp. Factor: Reserves.<br> Missing BP Disclosure for 1 of 2 Guarantors.<br> Missing Passport & Visa/Greencard for both foreign national guarantors (SS card reflects "valid only with DHS Auth"' and Employment Auth Cards in file for both guarantors do not constitute evidence of immigration status).<br> Incomplete VOR-primary for 1 of 2 guarantors; paid cash. An approved exception is not documented.<br> Second mortgage term < 3 yrs. | BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval for XXXX<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived- due to receipt of updated loan approval worksheet with approved exception for missing required US bank acct. comp factor: Seasoned Business<br> BUYER - GENERAL COMMENT (2022-12-06): Exception corrected on uploaded<br> REVIEWER - GENERAL COMMENT (2022-12-06): Exception waived- due to receipt of updated loan approval worksheet with approved exception for state exclusion override for subject Owner occ Trad 1 property located in NJ. comp factor: Seasoned Business<br> REVIEWER - GENERAL COMMENT (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br> REVIEWER - WAIVED COMMENT (2022-12-05): Approved exception at origination for FICO < 650 for 1 of 2 guarantors. Comp. Factor: Reserves.<br> BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived- due to receipt of updated loan approval worksheet with approved exception for missing required proof of 1 additional investment in US. comp factor: Seasoned Business<br> BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived- due to receipt of updated loan approval worksheet with approved exception for missing required loss of rents coverage. comp factor: Seasoned Business<br> REVIEWER - WAIVED COMMENT (2022-11-22): Approved exception at origination for LTV > 70% & CLTV > 80% for First time investor. Comp. Factor: Reserves.<br> BUYER - GENERAL COMMENT (2022-12-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-23): Excepiton waived. Updated approval received in trailing documents approving excepiton for missing BP disclosure. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived- due to receipt of updated loan approval worksheet with approved exception for missing required passports & Visa/Greencard for both foreign investor guarantors. comp factor: Seasoned Business<br> BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval for XXXX<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived- due to receipt of updated loan approval worksheet with approved exception for missing VOR-primary; cash payments. comp factor: Seasoned Business<br> BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived- due to receipt of updated loan approval worksheet with approved exception for 2nd mtg term < 3 yrs. comp factor: Seasoned Business | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000447 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Documentation - Missing lease Agreement | Missing lease | REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Lease. comp Factor: FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000448 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Insufficient Hazard Insurance | Interest only term exceeds five years. An approved exception is not documented.<br> 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for int only period > 5 yrs. comp Factor: Seasoned investor, FICO<br> BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for coinsurance & blanket liability coverage. comp Factor: Seasoned investor, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000449 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Missing Loss of Rent Coverage. Policy reflects loss of use coverage and Owner Occupied. | BUYER - GENERAL COMMENT (2022-12-21): Exception noted for Loss of use, pending corrected policy regarding occupancy<br> REVIEWER - WAIVED COMMENT (2022-12-23): Exception waived. Updated approval received in trailing documents approving exception for loss of use coverage. Comp factor, FICO. | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000450 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Insufficient Hazard Insurance | Interest only term exceeds five years. An approved exception is not documented.<br> 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for int only period > 5 yrs. comp Factor: Seasoned investor, FICO<br> BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for coinsurance and blanket liability policy. comp Factor: Seasoned investor, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000451 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Insufficient Hazard Insurance | Interest only term exceeds five years. An approved exception is not documented.<br> 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-07): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for int only period > 5 yrs. comp Factor: Seasoned investor, FICO<br> BUYER - GENERAL COMMENT (2022-12-06): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for coinsurance and blanket liability policy. comp Factor: Seasoned investor, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000452 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650 | Approved exception at origination for FICO < 650. Comp factors; LTV, Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-11-30): Approved exception at origination for FICO < 650. Comp factors; LTV, Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000453 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Insufficient Hazard Insurance | Interest only term exceeds five years. An approved exception is not documented.<br> 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | BUYER - GENERAL COMMENT (2022-12-07): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-07): Exception waived. Updated approval received in trailing documents approving exception for interest only term. Comp factors, seasoned investor and FICO.<br> BUYER - GENERAL COMMENT (2022-12-07): Exceptions noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-07): Exception waived. Updated approval received in trailing documents approving exception for Co-insurance/Blanket Policy without endorsement. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000454 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000455 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Eligibility - Guideline Issue: Derogatory consumer credit outside of credit guidelines | Approved exception at origination for FICO <650. Comp factors: Seasoned investor, LTV<br> Approved exception at origination for >$25k in aggregate charge offs& tax liens. Comp factors: seasoned investor, LTV | REVIEWER - WAIVED COMMENT (2022-12-02): Approved exception at origination for FICO<,650. Comp factors: 1) Seasoned investor, 2) LTV.<br> REVIEWER - WAIVED COMMENT (2022-12-02): Approved exception at origination for Tax lien $XXXX and >$25k in charge offs. Comp factors: 1) seasoned investor 2) LTV. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000456 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000457 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for missing VOR-primary; guarantor lives Rent Free. Comp factor; seasoned investor. | REVIEWER - WAIVED COMMENT (2022-11-30): Approved exception at origination for missing VOR-primary; guarantor lives Rent Free. Comp factor; seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000458 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] Credit Documentation - Missing lease Agreement<br> [2] General - The property has been listed for sale in the last 12 months. | Unable to substantiate use of Pride of ownership as sole comp factor for approved exception for missing VOR.<br> Missing Lease Agreement/Vacant. An approved exception is not documented.<br> Cash out with less than 12 value seasoning based on Appraised value > purchase price. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-12-21): Exception mitigated on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing VOR. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Lease. comp Factor: Seasoned investor<br> BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for cashout on property held < 12 mos. comp Factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000459 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing lease Agreement<br> [2] General - Property has been listed for sale in the past 12 months.<br> [2] General - The property has been listed for sale in the last 12 months. | Unable to determine comp factor for approved exception for 100% vacancy/missing lease on a refinance. Unmitigated.<br> Missing required cancelled listing agreement for subject property listed within 12 mos.<br> Cashout on property listed within 6 mos using AV of $1.8MM > list price of $XXXXMM | BUYER - GENERAL COMMENT (2022-12-07): Exception corrected on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-07): Exception waived. Updated approval received in trailing documents approving exception for 100% vacancy. Comp factor, LTV.<br> REVIEWER - GENERAL COMMENT (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br> BUYER - GENERAL COMMENT (2022-12-07): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-07): Exception waived. Updated approval received in trailing documents approving exception for missing listing canceled agreement. Comp factor, LTV.<br> BUYER - GENERAL COMMENT (2022-12-07): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-07): Exception waived. Updated approval received in trailing documents approving exception for cash out on property recently listed. Comp factor, LTV. | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000460 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Miscellaneous - Credit Exception: | Interest only term exceeds five years. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-12-07): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-07): Exception waived. Updated approval received in trailing documents approving exception for interest only term. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000461 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000462 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Application / Processing - Missing Document: Proof of Residency Status not provided | Guarantor DL reflects subject property address as primary residence with no LOE addressing this issue provided. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-12-07): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-07): Exception waived. Updated approval received in trailing documents approving exception for address on DL. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000463 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000464 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000465 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] General - Property has been listed for sale in the past 12 months. | EOI reflects 80% coinsurance on dwelling coverage.<br> Cash out on property held < 12 months. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-12-09): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-09): Exception waived. Updated approval received in trailing documents approving exception for co-insurance. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-12-09): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-09): Exception waived. Updated approval received in trailing docuemnts approving exception for cash out on recently listed property. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000466 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650 | Approved exception at origination for FICO < 650. Comp factor; Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-12-02): Approved exception at origination for FICO < 650. Comp factor; Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000467 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] Credit Documentation - Missing lease Agreement | Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factor; Seasoned investor, reserves<br> Approved exception at origination for missing lease/100% vacancy. Comp factor; Seasoned investor, reserves | REVIEWER - WAIVED COMMENT (2022-12-02): Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factor; Seasoned investor, reserves<br> REVIEWER - WAIVED COMMENT (2022-12-02): Approved exception at origination for missing lease/ 100% vacancy per analyst review. Comp factor; Seasoned investor, reserves | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000468 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing lease Agreement<br> [2] General - Property has been listed for sale in the past 12 months. | Approved exception at origination for missing Lease/100% vacancy on refinance. Comp factor: Seasoned investor<br> Cash out on property held < 6 mos using AV > PP. An approved exception is not documented. | REVIEWER - WAIVED COMMENT (2022-11-30): approved exception at origination for missing Lease/ 100% vacancy on subject SFR refinance. comp factor: Seasoned investor<br> BUYER - GENERAL COMMENT (2022-12-09): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-09): Exception waived. Updated approval received in trailing documents approving cash out based on appraised value (recent renovation). Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000469 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000470 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Insufficient Hazard Insurance | Interest only term exceeds five years. An approved exception is not documented.<br> 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | BUYER - GENERAL COMMENT (2022-12-09): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-09): Esception waived. Updated approval received in trailing documents approving exception for interest only term. Comp factors, seasoned investor and FICO.<br> BUYER - GENERAL COMMENT (2022-12-09): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-09): Exception waived. Updated approval received in trailing documents approving exception for co-insurance and missing endorsement. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000471 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000472 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000473 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000474 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000475 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000476 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Ineligible property<br> [2] General - Insufficient Hazard Insurance | Approved exception at origination for Rural subject property. Comp factors: FICO, seasoned investor, reserves.<br> Policy has the Guarantor as the insured and not the borrower. | REVIEWER - WAIVED COMMENT (2022-11-30): Approved exception at origination for Rural subject property. Comp factors: FICO, seasoned investor, reserves.<br> BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for guarantor as policy holder. comp Factor: Seasoned investor, FICO, reserves | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000477 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] Mortgage / Program Eligibility - Missing Document: Note - Subordinate Lien not provided | Missing liability coverage.<br> Missing 2nd mortgage note | BUYER - GENERAL COMMENT (2022-12-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for liability coverage. Comp factor, reserves.<br> BUYER - GENERAL COMMENT (2022-12-21): Uplaoded seller financing addendum for seller 2nd. There is note or DOT being recorded. An exception has been written on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for non-recorded seller second. Comp factor, reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000478 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factor: Seasoned investor | REVIEWER - WAIVED COMMENT (2022-11-30): Approved exception at origination for missing VOR-primary; guarantor lives rent free. comp factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000479 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Insufficient Hazard Insurance | Interest only term exceeds five years. An approved exception is not documented.<br> 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for interest only period > 5 yrs. comp Factor: Seasoned investor, FICO<br> BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for policy containing coinsurance and blanket liability policy without required endorsement. comp Factor: Seasoned investor, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000480 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Insufficient Hazard Insurance | Interest only term exceeds five year. An approved exception is not documented.<br> 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - GENERAL COMMENT (2022-12-21): Exception remains- status is unmitigated<br> BUYER - GENERAL COMMENT (2022-12-21): Corrected Uploaded<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for interest only term. Comp factor, FICO.<br> BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - GENERAL COMMENT (2022-12-21): Exception remains- status is unmitigated<br> BUYER - GENERAL COMMENT (2022-12-21): Corrected Uploaded<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for coinsurance and blanket policy. Comp factor, FICO. | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000481 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] Credit Documentation - Missing lease Agreement | Missing lease for 1 of 2 units (listed as XXXX with receipts for 1 months rent on 2nd unit). An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing lease. comp Factor: Seasoned investor, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000482 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | EOI (owner's policy) reflects loss of use and not Loss of Rents coverage with no evidence of landlord/rental coverage | BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage. comp Factor: LTV | 1 |  |  |  |  |  |  |  |  | The Loan to Value (LTV) on the loan is less than the guideline maximum. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000483 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines | FICO < 650 without an approved exception documented.<br> < 2 active major tradelines on credit report | BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for FICO < 650. comp Factor: seasoned investor<br> BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for insufficient tradelines. comp Factor: seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000484 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | EOI (owners policy) 1) is missing Liability coverage. 2) reflects guarantor as policyholder and not borrower entity. | BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for missing liability coverage and policy holder listed as guarantor. comp Factor: Seasoned investor, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000485 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing lease Agreement |  | BUYER - GENERAL COMMENT (2022-12-19): Lease exception mitigated<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Lease. comp Factor: FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000486 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Insufficient Hazard Insurance | Interest only term exceeds five years. An approved exception is not documented.<br> 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for interest only period > 5 yrs. comp Factor: Seasoned investor, FICO<br> BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for policy containing coinsurance and blanket liability policy without required endorsement. comp Factor: Seasoned investor, FICO | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000487 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for FICO<650. Comp factor: LTV, reserves<br> Approved exception at origination for Incomplete VOM- primary.. Comp factor: LTV , reserves | REVIEWER - WAIVED COMMENT (2022-12-02): Approved exception at origination for FICO<650. Comp factor: LTV, reserves<br> REVIEWER - WAIVED COMMENT (2022-12-02): Approved exception at origination for Incomplete VOM- primary; missing xx/xx-xx/xx. Comp factor: LTV , reserves | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000488 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Insufficient Hazard Insurance | Interest only term exceeds five years. An approved exception is not documented.<br> 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived. Updated approval received in trailing documents approving excepiton for interest only term. Comp factors, seasoned investor and FICO.<br> BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for co-insurance. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000489 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Documentation - Missing Document: Credit Report not provided<br> [2] Application / Processing - Missing Document: Proof of Residency Status not provided | Credit report aged > 60 days. An approved exception is not documented.<br> Missing Green card/Visa for permanent resident alien as indicated on application. (employment auth card in file does not evidence residency status) | BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for credit report aged > 60 days. comp Factor: Reserves, FICO<br> BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing required greencard/visa. comp Factor: Reserves | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000490 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] General - FICO below 650<br> [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | FICO < 650 is not documented as an approved exception<br> < 2 active major tradelines on credit report<br> Missing VOM-primary; mortgage in spouses name. | BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for FICO < 650. comp Factor: Seasoned investor, LTV, Reserves<br> BUYER - GENERAL COMMENT (2022-12-19): Exception noted on uploaded approval<br> REVIEWER - GENERAL COMMENT (2022-12-21): Exception remains- insufficient tradelines is not documented as an exception on uploaded approval<br> BUYER - GENERAL COMMENT (2022-12-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for tradelines. Comp factors, seasoned investor and LTV.<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOM-primary. comp Factor: Seasoned investor, LTV, Reserves | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000491 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000492 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for Subject DSCR < 1.20x Guideline min requirement for multifamily property with loan > $500k. Comp. Factors: FICO, Seasoned Investor.<br> No active major tradelines on credit report.<br> Missing 1) Wind/hail coverage 2) Law & Ordinance Coverage A.<br> Missing VOR-primary; guarantor lives rent free. An approved exception is not documented. | REVIEWER - WAIVED COMMENT (2022-11-29): Approved exception at origination for Subject DSCR < 1.20x Guideline min requirement for multifamily property with loan > $500k. Comp. Factors: FICO, Seasoned Investor.<br> BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for insufficient tradelines. comp Factor: Seasoned investor<br> BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for missing both Wind hail and Law & Ord coverage. comp Factor: Seasoned investor<br> BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing VOR-primary; guarantor lives rent free. comp Factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000493 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650 | Approved exception at origination for FICO < 650. Comp. Factor: Seasoned Business | REVIEWER - WAIVED COMMENT (2022-11-30): Approved exception at origination for FICO < 650. Comp. Factor: Seasoned Business | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000494 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Approved exception at origination or missing Law & Ordinance coverage. Comp. Factor: Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-11-30): Approved exception at origination or missing Law & Ordinance coverage. Comp. Factor: Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000495 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Missing Document: Lease Agreement not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] General - Missing Hazard Insurance | Approved exception at origination for missing lease/31.5% vacancy. Comp. Factor: Seasoned Investor.<br> Approved exception at origination incomplete VOR- primary (lived rent free with family). Comp. Factor: Seasoned Investor.<br> Approved exception at origination for non collection of full insurance premium at closing with payment plan. Comp. Factor: Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-11-29): Approved exception at origination for missing lease/ 31.5% vacancy. Comp. Factor: Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-29): Approved exception at origination incomplete VOR- primary; missing pay history prior to xx/xxxx. Comp. Factor: Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-11-29): Approved exception at origination for non collection of full insurance premium at closing with payment plan. Comp. Factor: Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000496 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Miscellaneous - Credit Exception:<br> [2] General - Insufficient Hazard Insurance | Second Mortgage term less than 36 months. An approved exception is not documented.<br> 1) missing Bus income/ loss of rents coverage. 2) missing law & ordinance coverage A- loss to undamaged portion of bldg. | BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for 2nd mtg term < guideline min requirement. comp Factor: FICO<br> BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for missing both business income and Law & Ord coverage. comp Factor: FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000497 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Missing 1) law & ordinance coverage 2) liability each occurrence coverage amount.<br> Approved exceptions at origination for 1) Missing VOR-primary; guarantor lives rent free, and 2) incomplete VOM-subject. Comp factor: Seasoned investor | BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for Missing both law & ord coverage and liability per occurrence amount details. comp Factor: LTV<br> REVIEWER - WAIVED COMMENT (2022-12-01): Approved exceptions at origination for 1) Missing VOR-primary; guarantor lives rent free, and 2) incomplete VOM-subject; most recent payment documented is Dec 2021. comp factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000498 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] Insurance Documentation - Missing Document: Flood Insurance Policy not provided<br> [2] Loan File - Missing Document: Hazard Insurance Policy not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | NEW- EOI uploaded in trailing docs 1) is missing loss of rents/business income coverage 2) wind deductible of 5% on $XXXXk coverage amount exceeds guideline max wind deductible of $25k.<br> Missing EOI for flood insurance for subject property<br> Missing EOI for both property hazard & liability coverage for subject property<br> Missing VOR-primary (lives rent free). An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-12-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-23): Exception waived. Updated approval received in trailing documents approving excepiton for loss of rent/business income and Wind deductible. Comp factors, seasoned investor and FICO.<br> BUYER - GENERAL COMMENT (2022-12-20): Exception noted for missing proof of flood. Uploaded final Hud shows disbursement to XXXX for insurance<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing EOI for Flood coverage. comp Factor: Seasoned investor, FICO<br> BUYER - GENERAL COMMENT (2022-12-20): Uploaded for hazard.<br> BUYER - GENERAL COMMENT (2022-12-20): Exception noted for liability<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing EOI for liability coverage. comp Factor: Seasoned investor, FICO<br> BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary. comp Factor: FICO, Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000535 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for incomplete VOM- missing 2 mos payments. Comp factor: FICO | REVIEWER - WAIVED COMMENT (2022-12-06): Approved exception at origination for incomplete VOM- missing 2 mos payments. comp factor: FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000536 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] General - Insufficient Hazard Insurance<br> [2] AUS Discrepancy / Guidelines Discrepancy - Loan amounts less than $75,000 are not permitted according to the guidelines | Approved exception at origination for FICO < 650. Comp factors; Seasoned Investor, LTV, Reserves.<br> 1) Policyholder/ Named insured is guarantor and not borrower entity. 2) EOI reflects Loss of Use and not Loss of Rents coverage (landlord/rental coverage is not evidenced).<br> Approved exception at origination for subject note < $75K. Comp factors: LTV, Seasoned Investor, Reserves. | REVIEWER - WAIVED COMMENT (2022-12-06): Approved exception at origination for FICO < 650. Comp factors; Seasoned Investor, LTV, Reserves.<br> BUYER - GENERAL COMMENT (2022-12-20): 1) Exception noted on uploaded approval. 2) is a landlord policy, loss of use is acceptable<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for named of insured. Comp factor, LTV.<br> REVIEWER - WAIVED COMMENT (2022-12-06): Approved exception for subject note < $75K. Comp factors: LTV, Seasoned Investor, Reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000537 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000538 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650 | Approved exception at origination for FICO < 650. Comp factor: seasoned investor | REVIEWER - WAIVED COMMENT (2022-12-07): Approved exception at origination for FICO < 650. comp factor: seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000539 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000540 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Approved exception at origination for liability coverage < $300,000. Comp factor: FICO | REVIEWER - WAIVED COMMENT (2022-12-12): Approved exception at origination for Hazard liability < $300,000. Comp factor: high FICO | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000541 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided<br> [2] General - The property has been listed for sale in the last 12 months. | Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factors; Seasoned Investor, FICO.<br> Cash out on property owned less than 12 months using the appraised value > the purchase price. An approved exception not documented. | REVIEWER - WAIVED COMMENT (2022-12-06): Approved exception at origination for VOR. Comp factors; Seasoned Investor, High FICO.<br> BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for value seasoning/cash out. Comp factor, FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000542 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] Loan File - Missing Document: Hazard Insurance Policy not provided<br> [2] Credit Documentation - Missing lease Agreement | < 2 active major tradelines on credit report<br> Policy has guarantor as the insured and not the borrowing entity.<br> Approved exception at origination for missing lease (subject is XXXX) Comp factor: Seasoned investor | BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for tradelines. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for name of insured. Comp factor, seasoned investor.<br> REVIEWER - WAIVED COMMENT (2022-12-06): Approved exception at origination for missing lease (subject is XXXX) comp factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000543 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650 | Approved exception at origination for FICO < 650. Comp factor; Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-12-07): Approved exception at origination for FICO < 650. Comp factor; Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000544 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] Credit Documentation - Missing lease Agreement | Less than 2 major tradelines reported on credit.<br> Missing Lease Agreement for 1 of 2 units. | BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for tradelines. Comp factors, LTV and seasoned investor.<br> BUYER - GENERAL COMMENT (2022-12-20): Exception noted ouploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for missing Lease. Comp factors, LTV and seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000545 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - FICO below 650<br> [2] AUS Discrepancy / Guidelines Discrepancy - Loan amounts less than $75,000 are not permitted according to the guidelines | Approved exception at origination for FICO < 650. Comp factor; Seasoned Investor.<br> Approved exception at origination for subject note < $75K. Comp factor; Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-12-07): Approved exception at origination for FICO < 650. Comp factor; Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-12-07): Approved exception at origination for subject note < $75K. Comp factor; Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000546 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] General - LTV does not meet guidelines | Wind deductible of 3% on $XXXXMM coverage amount exceeds guideline max wind deductible of $25k.<br> LTV > 70% for SFR loan > $1MM. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-12-20): Uploaded<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for deductible. Comp factor, FICO.<br> BUYER - GENERAL COMMENT (2022-12-20): Exception noted<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for LTV. Comp factor, FICO. | 1 |  |  |  |  |  |  |  |  | The representative FICO score exceeds the guideline minimum by XX points. B |  |  |  |  | A B |
| XXXX | XXXX |  | 1000547 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000548 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Approved exception at origination for not collecting full 12 mo premium at closing/ waiver of insurance impounds. Comp factor: seasoned investor | REVIEWER - WAIVED COMMENT (2022-12-06): Approved exception at origination for not collecting full 12 mo premium at closing/ waiver of insurance impounds. Comp factor: seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000549 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Missing Hazard Insurance | Approved exception at origination for < 2 active major tradelines. Comp factor: seasoned investor<br> Approved exception at origination for waiver of insurance impounds. Comp factor: seasoned investor | REVIEWER - WAIVED COMMENT (2022-12-06): Approved exception at origination for < 2 active major tradelines. comp factor: seasoned investor<br> REVIEWER - WAIVED COMMENT (2022-12-06): Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000550 | $XXX | XX/XX/XXXX | Purchase |  | 2 | 2 | [2] Credit Eligibility - Guideline Issue: Derogatory consumer credit outside of credit guidelines<br> [2] General - Missing Document: Comparable Rent Schedule not provided | Unpaid tax lien > $25k on credit report. An approved exception is not documented.<br> Comparable rent schedule included with 1004 appraisal in file is blank/incomplete due to lack of supported rental data. An approved exception is not documented. | BUYER - GENERAL COMMENT (2022-12-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-23): Exception waived. Updated approval received in trailing documents approving exception for tax lien. Comp factor, reserves.<br> BUYER - GENERAL COMMENT (2022-12-21): Exception noted on uploaded aprpoval<br> REVIEWER - WAIVED COMMENT (2022-12-23): Exception waived. Updated approval received in trailing documents approving exception for Comparable Rent Schedule. Comp factor, reserves. | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000551 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | EOI (owners policy) reflects Loss of Use, not loss of rents coverage (landlord/rental coverage is not evidenced).<br> < 12 mos VOM-primary (non-standard VOM form in file references only 5 mos). | BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for loss of use coverage. Comp factor, seasoned investor.<br> BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for VOM primary. Comp factor, seasoned investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record |  |  |  |  | A B |
| XXXX | XXXX |  | 1000552 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance | Policy contains loss of use and not loss of rents coverage. | BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for loss of use coverage. Comp factors, Seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000553 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000554 | $XXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000555 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing lease Agreement | 1) EOI reflects individual as policy holder/insured and not borrower entity. 2) EOI reflects loss of use and not loss of rents coverage with Homeowners policy type. | BUYER - GENERAL COMMENT (2022-12-20): Uploaded shows borrowing entity as additional insured. This is sufficient<br> BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval for Loss of Use<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for loss of use coverage. Comp factors, seasoned investor and FICO. Borrower listed as additional insured.<br> BUYER - GENERAL COMMENT (2022-12-20): An exception has been noted on uploaded approval for vacancy. This is the property exception. if a property is vacant, then we know there is no lease<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for vacancy. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000556 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Calculation / Analysis - Guideline Issue: Insufficient tradelines per credit guidelines<br> [2] General - Missing Hazard Insurance | Approved exception at origination for no active major tradelines on credit report. Comp factor: LTV, seasoned investor, Seasoned business<br> Approved exception at origination for waiver of insurance impounds; on payment plan. Comp factor: LTV | REVIEWER - WAIVED COMMENT (2022-12-05): Approved exception at origination for no active major tradelines on credit report. comp factor: LTV, seasoned investor, Seasoned business<br> REVIEWER - WAIVED COMMENT (2022-12-05): Approved exception at origination for waiver of insurance impounds; on payment plan. comp factor: LTV | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000557 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] General - FICO below 650<br> [2] General - Insufficient Hazard Insurance<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Approved exception at origination for DSCR < 1.20x for investor mixed use property with loan > $500k. Comp factor: LTV<br> Approved exception at origination for FICO < 650. Comp factor: LTV, Seasoned investor<br> Wind deductible of 2% on $XXXXMM coverage amount exceeds guideline max wind deductible of $25k<br> Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factor: LTV, Seasoned investor | REVIEWER - WAIVED COMMENT (2022-12-05): Approved exception at origination for DSCR < 1.20x for investor mixed use property with loan > $200k. comp factor: LTV<br> REVIEWER - WAIVED COMMENT (2022-12-05): Approved exception at origination for FICO < 650. comp factor: LTV, Seasoned investor<br> BUYER - GENERAL COMMENT (2022-12-20): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for wind deductible amount. comp Factor: seasoned investor, LTV<br> REVIEWER - WAIVED COMMENT (2022-12-05): Approved exception at origination for missing VOR-primary; guarantor lives rent free. comp factor: LTV, Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000558 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  | 1000559 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Appraisal Documentation - Missing Document: Appraisal not provided<br> [2] Credit Documentation - Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided | Appraisal contains a Leased Fee valuation and not Fee Simple opinion of Value.<br> Approved exceptions at origination for 1) missing VOR-primary; guarantor lives rent free, and 2) incomplete VOM-subject. Comp factor: Seasoned investor | BUYER - GENERAL COMMENT (2022-12-22): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-23): Exception waived. Updated approval received in trailing documents approving exception for Lease Fee valuation. Comp factors, seasoned investor and FICO.<br> REVIEWER - WAIVED COMMENT (2022-12-05): Approved exceptions at origination for 1) missing VOR-primary; guarantor lives rent free, and 2) incomplete VOM-subject; missing pay history prior to xx/xx. comp factor: Seasoned investor | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000560 | $XXX | XX/XX/XXXX | Refinance Rate/Term |  | 2 | 2 | [2] General - Debt service ratio issue<br> [2] General - LTV does not meet guidelines<br> [2] General - Missing Document: Lease Agreement not provided | Approved exception at origination for DSCR <1.20x Guideline min threshold for investor mixed use property with loan > $100k. Comp. Factors: Reserves, Seasoned Investor.<br> Approved exception at origination for LTV >70% on investor mixed use refi. Comp. Factors: Reserves, Seasoned Investor.<br> Approved exception at origination for 51% vacancy/missing lease for subject traditional 1 property with loan > $500k. Comp. Factors: Reserves, Seasoned Investor. | REVIEWER - WAIVED COMMENT (2022-12-12): Approved exception at origination for DSCR <1.20x Guideline min threshold for investor mixed use property with loan > $100k. Comp. Factors: Reserves, Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-12-12): Approved exception at origination for LTV >70% on investor mixed use refi Guidelines. Comp. Factors: Reserves, Seasoned Investor.<br> REVIEWER - WAIVED COMMENT (2022-12-12): Approved exception at origination for 51% vacancy/ missing lease for subject traditional 1 property with loan > $500k. Comp. Factors: Reserves, Seasoned Investor. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  | 1000561 | $XXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |

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## Exhibit 99.04

[VCC 2023-1 ABS-15G](vcc-abs15g_010323.htm)

**Exhibit 99.04**

![](situs_logo.jpg)

**Exception Grades**

**Run Date - 12/28/2022 4:03:37 PM** 

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| **SitusAMC Loan ID** | **Customer Loan ID** | **Seller Loan ID** | **Edgar Loan ID** | **Loan Exception ID** | **Exception ID** | **Exception Date** | **Exception Type** | **Exception Category** | **Exception Subcategory** | **15E Category** | **Edgar Loan ID** | **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** | **Purpose** | **Exception Remediation** | **Compliance<br> Final Loan Grade** | **Originator QM ATR Status** | **TPR QM ATR Status** | **Is Curable** |
| XXXX | XXXX |  | 1000678 | 26096002 | XXXX | 06/28/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp Factor: Low LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-06-26): Approved exception at origination for FICO < 650. Comp Factor: Low LTV. |  |  | 06/26/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000678 | 26096009 | XXXX | 06/28/2022 | Credit | Loan Package Documentation | Application / Processing | Missing Document |  | Missing Document: Approval not provided |  | Approved exception at origination for First Time Homebuyer. Comp Factor: Low LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-06-26): Approved exception at origination for First Time Homebuyer. Comp Factor: Low LTV. |  |  | 06/26/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000678 | 26155111 | XXXX | 06/28/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) Missing Rent loss coverage and 2) Coverage less than loan amount or costs new from appraisal. Insurance estimated in file is for personal property replacement and not the dwelling. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for loss of use coverage. Comp factor, LTV. Item #2 cleared.<br>Buyer Comment (2022-12-21): 1. Exception written for Loss of Rents<br> 2. HOA Policy with full building coverage (to include walls in) and Borrower policy |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000676 | 26217726 | XXXX | 07/01/2022 | Credit | Loan Package Documentation | Loan File | Missing Document |  | Missing Document: Hazard Insurance Policy not provided |  | Waiver of insurance impounds is not documented as an approved exception. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-07-14): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Waiver of Insurance impounds. comp Factor: Seasoned investor,<br>Buyer Comment (2022-07-14): Exception noted on uploaded approval |  |  | 07/14/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000677 | 26303783 | XXXX | 07/20/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp factor, Seasoned Investor, Strong Reserves. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-07-19): Approved exception at origination for FICO < 650. Comp factor, Seasoned Investor, Strong Reserves. |  |  | 07/19/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000677 | 26305079 | XXXX | 07/20/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Property has been listed for sale in the past 12 months. |  | Per appraisal, Subject has been listed for sale within 6 mos. Missing expired or cancelled listing agreement as required per MCP 6.6 | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-08-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing cancelled listing agreement. comp Factor: Seasoned investor<br>Buyer Comment (2022-08-04): Exception noted on uplaoded approval |  |  | 08/05/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000677 | 26305129 | XXXX | 07/20/2022 | Credit | Credit | Credit Eligibility | Guideline |  | Guideline Issue: Derogatory mortgage payments outside of credit guidelines |  | Credit report reflects 1x 30 day mtg late within 90 days. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-08-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for 1x 30 day mtg late within 90 days.. comp Factor: Reserves<br>Buyer Comment (2022-08-04): Exception noted on uploaded approval |  |  | 08/05/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000000 | 26814721 | XXXX | 09/13/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing loss of business income/rents coverage. Comp Factor - Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-09-13): Approved exception at origination for missing loss of business income/rents coverage. Comp Factor - Seasoned Investor. |  |  | 09/13/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000001 | 26814948 | XXXX | 09/13/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | Approved exception at origination for LTV > 70% for investor office purchase. Comp Factors - Seasoned Investor | Borrower's Experience/Track Record | CF- seasoned investor. | SitusAMC,Originator | Reviewer Comment (2022-09-13): Approved exception at origination for LTV > 70% for investor office purchase. Comp Factors - Seasoned Investor |  |  | 09/13/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000002 | 26811209 | XXXX | 09/12/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for incomplete VOR-primary. Comp Factor - FICO. | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-09-12): Approved exception at origination for incomplete VOR-primary pay history; missing x/xx and x/xx pmts . Comp Factor - FICO. |  |  | 09/12/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000002 | 26811875 | XXXX | 09/12/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Guideline Issue: Ineligible borrower |  | Approved exception at origination for First Time Investor with LTV > 70% on investor mixed use purchase. Comp Factors - FICO | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-09-12): Approved exception at origination for First Time Investor with LTV > 70% on investor mixed use purchase. Comp Factors - FICO |  |  | 09/12/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000003 | 26811774 | XXXX | 09/13/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Non-Owner Occupancy Declaration not provided |  | Missing 1) Missing owner occ. BP Cert for subject mixed use property occupied by 1 borrowers as primary residence, 2) Certificate of occupancy and indemnity for borrower that does not occupy subject property. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-09-13): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Bus Purpose Cert and Cert of occ & indemnity for subject owner occupied mixed use property. comp Factor: Seasoned investor<br>Buyer Comment (2022-09-13): Exception noted on uploaded approval |  |  | 09/13/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000003 | 26812824 | XXXX | 09/13/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | 1 of 2 borrowers has only 1 active major tradelines on credit report. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-09-13): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for < 2 active major tradelines. comp Factor: Seasoned investor<br>Seller Comment (2022-09-13): uploaded |  |  | 09/13/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000006 | 26856843 | XXXX | 09/20/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property is ineligible. |  | Approved exception at origination for state exclusion override for subject traditional II property located in MI. Comp. Factors: LTV, Seasoned Investor. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ seasoned investor<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-09-19): Approved exception at origination for state exclusion override for subject traditional II property located in MI. Comp. Factors: LTV, Seasoned Investor. |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000007 | 26856040 | XXXX | 09/20/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | approved exception at origination for missing VOR-primary; borrower lives rent free. comp factor: reserves, FICO, Seasoned business | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- FICO<br>CF- reserves<br>CF- seasoned business | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-09-19): approved exception at origination for missing VOR-primary; borrower lives rent free. comp factor: reserves, FICO, Seasoned business |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000007 | 26856082 | XXXX | 09/20/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | Approved exception at origination for LTV > 65% for owner user auto service purchase. comp factor: reserves, FICO, Seasoned business | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- FICO<br>CF- reserves<br>CF- seasoned business | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-09-19): Approved exception at origination for LTV > 65% for owner user auto service purchase. comp factor: reserves, FICO, Seasoned business |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000008 | 26860442 | XXXX | 09/27/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Unable to determine comp. factor for approved exception for missing Law & ordinance coverage. Status is unmitigated | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br>Reviewer Comment (2022-10-03): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage. comp Factor: FICO<br>Buyer Comment (2022-10-03): Corrected on uploaded approval |  |  | 10/03/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000008 | 26885595 | XXXX | 09/27/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Flood insurance |  | Flood coverage capped at $200k. an approved exception is not documented | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-10-03): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Flood coverage capped at $200k. comp Factor: FICO<br>Buyer Comment (2022-10-03): Exception noted on uploaded approval |  |  | 10/03/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000009 | 26887061 | XXXX | 09/30/2022 | Credit | Loan Package Documentation | Application / Processing | Missing Document |  | Missing Document: Approval not provided |  | Approved exception at origination for First Time Investor with LTV > 65% for owner user retail purchase. Comp Factor - Reserves.<br> .. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ reserves | SitusAMC,Originator | Reviewer Comment (2022-09-28): Approved exception at origination for First Time Investor with LTV > 65% for owner user retail purchase. Comp Factor - Reserves. . |  |  | 09/28/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000010 | 26853932 | XXXX | 09/20/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing required 12 mos pay history for VOM-primary. Comp Factor - Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-09-19): Approved exception at origination for missing required 12 mos pay history for VOM-primary. Comp Factor - Seasoned Investor. |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000010 | 26853940 | XXXX | 09/20/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | Approved exception at origination for LTV >75% on owner user mixed use purchase. Comp Factor - Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-09-19): Approved exception at origination for LTV >75% on owner user mixed use purchase. Comp Factor - Seasoned Investor. |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000010 | 26856658 | XXXX | 09/20/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | only 1x active major tradeline on credit report for both co-borrowers. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-09-23): Exception waived. Updated approval received in trailing documents approving exception for limited number of major tradelines. Comp factor, reserves.<br>Buyer Comment (2022-09-21): Exception written for limited major tradelines |  |  | 09/23/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000011 | 26856822 | XXXX | 09/20/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Proof of Residency Status not provided |  | Missing Visa/green card for both foreign national guarantors. Only foreign passport provided; however, applications list US address as primary residence. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-09-23): Exception waived. Updated approval received in trailing documents approving exception for Green Card. Comp factor, LTV.<br>Buyer Comment (2022-09-22): Exception written for use of Passports |  |  | 09/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000011 | 26856827 | XXXX | 09/20/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing proof of primary for 1 of 2 guarantors. Utility bill in file reflects only 1 name. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-09-23): Exception waived. Updated approval received in trailing documents approving exception for missing VOR. Comp factor, LTV.<br>Buyer Comment (2022-09-22): Exception noted for no VOR on uploaded approval, Borrowers reside at the same residence and have sufficient tradelines and proof of US investments via US Credit report. |  |  | 09/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000012 | 26856813 | XXXX | 09/20/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | Approved exception at origination for LTV > 70% for investor office purchase by FT investor. Compensating factor: reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ reserves | SitusAMC,Originator | Reviewer Comment (2022-09-19): Approved exception at origination for LTV > 70% for investor office purchase by FT investor. Compensating factor: reserves. |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000012 | 26856838 | XXXX | 09/20/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Guideline Issue: Ineligible borrower |  | Approved exception at origination for first time investor with LTV> 70% on investor office purchase. Compensating factor: reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ reserves | SitusAMC,Originator | Reviewer Comment (2022-09-19): Approved exception at origination for first time investor with LTV> 70% on investor office purchase. Compensating factor: reserves. |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000013 | 26853570 | XXXX | 09/20/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | no active major tradelines on credit report. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-09-23): Exception waived./ Updated approval received in trailing documents approving exception for limited number of major tradelines. Comp factor, seasoned investor.<br>Buyer Comment (2022-09-22): Exception noted on uploaded approval |  |  | 09/23/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000013 | 26856474 | XXXX | 09/20/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Approved exception at origination for State Exclusion Override for mixed use property type located in IL. Comp Factor - Low LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-09-19): Approved exception at origination for State Exclusion Override for mixed use property type located in IL. Comp Factor - Low LTV. |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000013 | 26856479 | XXXX | 09/20/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | missing VOR-primary; borrower lives rent free. an approved exception is not documented. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-09-23): Exception waived. Updated approval received in trailing documents approving exception for missing VOR. Comp factor, seasoned investor.<br>Buyer Comment (2022-09-22): Exception noted on uploaded approval |  |  | 09/23/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000014 | 26853556 | XXXX | 09/20/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for DSCR < 1.25x on trad 2 loan with balance > $500k. comp factor: seasoned investor | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-09-19): Approved exception at origination for DSCR < 1.25x on trad 2 loan with balance > $500k. comp factor: seasoned investor |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000015 | 26854176 | XXXX | 09/20/2022 | Credit | Credit | Credit Documentation | Missing Document |  | Missing Document: Credit Report not provided |  | Approved exception at origination for Credit report aged > 60 days. Comp factor: seasoned investor, Seasoned business, and LTV | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- Seasoned investor/ Seasoned business<br>CF- LTV (of 60%) | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-09-19): approved exception at origination for Credit report aged > 60 days. (expired 9/4 per approval). comp factor: seasoned investor, Seasoned business, LTV |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000015 | 26854210 | XXXX | 09/20/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Approved exception at origination for missing leases. Comp factor: seasoned investor, Seasoned business, and LTV | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- Seasoned investor/ Seasoned business<br>CF- LTV (of 60%) | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-09-19): approved exception at origination for missing leases. comp factor: seasoned investor, Seasoned business, LTV |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000015 | 26854366 | XXXX | 09/20/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for < guideline min of 1.0x for owner user traditional 2 property with loan with note > $500k Comp factor: seasoned investor, Seasoned business, and LTV | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- Seasoned investor/ Seasoned business<br>CF- LTV (of 60%) | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-09-19): approved exception at origination for < guideline min of 1.0x for owner user traditional 2 property with loan with note > $500k comp factor: seasoned investor, Seasoned business, LTV |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000015 | 26854378 | XXXX | 09/20/2022 | Credit | Credit | Credit Eligibility | Guideline |  | Guideline Issue: Derogatory mortgage payments outside of credit guidelines |  | Approved exceptions at origination for 1x90 and multiple 60 & 30 late on subject within 12 mos and Rolling 60 day within 90 on primary. Comp factor: Seasoned business, and LTV | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- Seasoned investor/ Seasoned business<br>CF- LTV (of 60%) | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-09-19): approved exceptions at origination for 1x90 and multiple 60 & 30 dat lates on subject within 12 mos and Rolling 60 day within 90 on primary. comp factor: Seasoned business, LTV |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000017 | 27044958 | XXXX | 11/01/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp Factor - Seasoned Investor and Reserves. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's Experience/Track Record.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-25): Approved exception at origination for VOR. Comp Factor - Seasoned Investor and Reserves. |  |  | 10/25/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000017 | 27044962 | XXXX | 11/01/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Approved exception at origination for < 2 active major Trade Lines. Comp Factor - Seasoned Investor, and Reserves. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's Experience/Track Record.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-25): Approved exception at origination for Credit (Limited Trade Lines). Comp Factor - Seasoned Investor, and Reserves. |  |  | 10/25/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000017 | 27045361 | XXXX | 11/01/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing 1) Law & ord coverage A and 2) gen aggregate liability of $2,000,000. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-01): Exception waived. Updated approval received in trailing documents approving exception for Law & Ordinance coverage. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-01): Exception noted on uploaded approval |  |  | 11/01/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000017 | 27135000 | XXXX | 11/01/2022 | Credit | Borrower and Mortgage Eligibility | Mortgage / Program Eligibility | Borrower and Mortgage Eligibility |  | Subordinate financing not permitted |  | Approved exception at origination for 2nd loan term < 3 yrs. Comp factor, seasoned investor. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-01): Approved exception at origination for 2nd loan term. Comp factor, seasoned investor. |  |  | 11/01/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000018 | 26854293 | XXXX | 09/20/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Missing Hazard Insurance |  | Approved exception at origination for Waiver of insurance impounds; not collecting balance at closing- on payment plan. comp factor: seasoned investor | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-09-19): Approved exception at origination for Waiver of insurance impounds; not collecting balance at closing- on payment plan. comp factor: seasoned investor |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000018 | 26856420 | XXXX | 09/20/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | seller 2nd mtg term of 24 mos is < guideline min 2nd mtg term of 3 yrs | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-09-23): Exception waived. Updated approval received in trailing documents approving exception for 2nd Mortgage term. Comp factor, seasoned investor.<br>Buyer Comment (2022-09-22): Exception Noted on uploaded approval |  |  | 09/23/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000019 | 26854420 | XXXX | 09/20/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp Factor - LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-09-19): Approved exception at origination for FICO < 650. Comp Factor - LTV. |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000019 | 26854456 | XXXX | 09/20/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing Law & ordinance coverage. Comp Factor - Seasoned Investor | Borrower's Experience/Track Record | CF-seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-09-19): Approved exception at origination for missing Law & ordinance coverage. Comp Factor - Seasoned Investor |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000019 | 26854477 | XXXX | 09/20/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Non-Owner Occupancy Declaration not provided |  | Missing Business Purpose of Loan Certification document for subject note | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record | CF- LTV<br>CF-seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-09-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing business purpose certification document. comp Factor: Seasoned investor, LTV<br>Buyer Comment (2022-09-22): Exception noted on uploaded approval |  |  | 09/26/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000019 | 26854544 | XXXX | 09/20/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Missing Hazard Insurance |  | Missing Wind/hail Coverage. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record | CF- LTV<br>CF-seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-09-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Wind/hail coverage. comp Factor: Seasoned investor, LTV<br>Buyer Comment (2022-09-22): Exception noted on uploaded approval |  |  | 09/26/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000019 | 26856744 | XXXX | 09/20/2022 | Credit | Credit | Credit Documentation | Missing Document |  | Missing Document: Credit Report not provided |  | Approved exception at origination for Credit report aged > 60 days. Comp Factor - Low LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-09-19): Approved exception at origination for Credit report aged > 60 days. Comp Factor - Low LTV. |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000019 | 26856746 | XXXX | 09/20/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Approved exception at origination for missing leases/ 67% vacancy. Comp Factor - Low LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-09-19): Approved exception at origination for missing leases/ 67% vacancy. Comp Factor - Low LTV. |  |  | 09/19/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000020 | 26941233 | XXXX | 10/11/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing Law & Ordinance coverage. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-10-17): Exception waived. Updated approval received in trailing documents approving exception for Law & Ordinance coverage. Comp factor, FICO.<br>Buyer Comment (2022-10-17): Exception noted on uploaded approval |  |  | 10/17/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000021 | 26881262 | XXXX | 09/30/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property is ineligible. |  | Approved exception at origination override of statewide exclusion for subject traditional property type located in Mi. Comp. Factors: LTV, Seasoned Investor. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record | CF_ LTV<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-09-28): Approved exception at origination override of statewide exclusion for subject traditional property type located in Mi. Comp. Factors: LTV, Seasoned Investor. |  |  | 09/28/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000022 | 26881332 | XXXX | 09/30/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | Approved exception at origination for LTV > 70% on owner user office purchase. Comp. Factors: Reserves, Seasoned Investor. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- reserves<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-09-29): Approved exception at origination for LTV > 70% on owner user office purchase. Comp. Factors: Reserves, Seasoned Investor. |  |  | 09/29/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000022 | 26881333 | XXXX | 09/30/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exceptions at origination for missing law and ordinance coverage and < 12 mos business income coverage. Comp. Factor: FICO | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-09-29): Approved exceptions at origination for missing law and ordinance coverage and < 12 mos business income coverage. Comp. Factor: FICO |  |  | 09/29/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000023 | 26881248 | XXXX | 09/30/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOM - primary. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF Seasoned investor, Seasoned business | SitusAMC,Originator | Reviewer Comment (2022-09-27): Approved exception at origination for missing VOM - primary. Comp. Factor: Seasoned Investor. |  |  | 09/27/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000023 | 26881249 | XXXX | 09/30/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for DSC < 1.0x Guideline min for owner user mixed use property with loan > $500k. Comp. Factors: Seasoned Investor, Seasoned Business. | Borrower's Experience/Track Record | CF Seasoned investor, Seasoned business | SitusAMC,Originator | Reviewer Comment (2022-09-27): Approved exception at origination for DSC < 1.0x Guideline min for owner user mixed use property with loan > $500k. Comp. Factors: Seasoned Investor, Seasoned Business. |  |  | 09/27/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000024 | 26881376 | XXXX | 09/30/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp. Factor: Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-09-29): Approved exception at origination for FICO < 650. Comp. Factor: Reserves. |  |  | 09/29/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000024 | 26881377 | XXXX | 09/30/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for DSC < 1.20x required for loan > $800k. Comp. Factor: Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-09-29): Approved exception at origination for DSC < 1.20x required for loan > $800k. Comp. Factor: Reserves. |  |  | 09/29/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000024 | 26881379 | XXXX | 09/30/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Underwritten vacancy of 3% per Analyst review is < guideline min vacancy assumption of 5% | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-10-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for underwritten vacancy < 5%. comp Factor: Reserves<br>Buyer Comment (2022-10-04): Exception noted on uploaded approval |  |  | 10/05/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000024 | 26902838 | XXXX | 09/30/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing Law & Ordinance coverage A. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-10-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Law & ord coverage. comp Factor: Reserves<br>Buyer Comment (2022-10-04): Exception noted on uploaded approval |  |  | 10/05/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000025 | 26889528 | XXXX | 09/30/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for EOI for Property hazard & liability coverage missing a Policy Number. Comp Factor - Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-09-28): Approved exception at origination for EOI for Property hazard & liability coverage missing a Policy Number. Comp Factor - Seasoned Investor. |  |  | 09/28/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000025 | 26889590 | XXXX | 09/30/2022 | Credit | Guideline | Guideline Issue | Guideline |  | Aged document: Primary Valuation is older than guidelines permit | Valuation Type: Appraisal / Valuation Report Date: XX/XX/XXXX | Appraisal aged > 6 months. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-10-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Appraisal aged > 6 mos. comp Factor: Seasoned investor<br>Buyer Comment (2022-10-04): Exception noted on uploaded approval |  |  | 10/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000026 | 26881327 | XXXX | 09/30/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Guideline Issue: Ineligible borrower |  | Approved exception at origination for First Time Investor with LTV > 70% on owner user mixed use purchase. Comp. Factors: FICO, Seasoned Business, Reserves. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- FICO<br>CF- seasoned business<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-09-27): Approved exception at origination for First Time Investor with LTV > 70% on owner user mixed use purchase. Comp. Factors: FICO, Seasoned Business, Reserves. |  |  | 09/27/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000026 | 26881328 | XXXX | 09/30/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Approved exception at origination for Vacancy > 30%/missing lease. Comp. Factors: FICO, Seasoned Business, Reserves | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- FICO<br>CF- seasoned business<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-09-27): Approved exception at origination for Vacancy > 30%/missing lease. Comp. Factors: FICO, Seasoned Business, Reserves |  |  | 09/27/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000026 | 26881329 | XXXX | 09/30/2022 | Credit | Credit | Credit Documentation | Missing Document |  | Missing Document: Credit Report not provided |  | Approved exception at origination for credit report aged > 60 days. Comp. Factors: Seasoned Business, Reserves. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned business<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-09-28): Approved exception at origination for credit report aged > 60 days. Comp. Factors: Seasoned Business, Reserves. |  |  | 09/28/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000027 | 26881361 | XXXX | 09/30/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp. Factor: Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-09-27): Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp. Factor: Reserves. |  |  | 09/27/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000027 | 26881362 | XXXX | 09/30/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Approved exception at origination for Vacancy of 33.6%/missing lease. Comp. Factor: Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-09-27): Approved exception at origination for Vacancy of 33.6%/missing lease. Comp. Factor: Reserves. |  |  | 09/27/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000028 | 26881400 | XXXX | 09/30/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) Missing law & ordinance coverage 2) wind deductible of 2% on $2.9MM coverage amount exceeds guideline max wind deductible of $25k. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for missing law & ord coverage and Wind deductible amount. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-10-04): Exception noted on uploaded approval |  |  | 10/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000028 | 26881401 | XXXX | 09/30/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Missing lease agreement for traditional property with loan > $1.5MM | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing lease. comp Factor: Seasoned investor, LTV<br>Buyer Comment (2022-10-04): Exception noted on uploaded approval |  |  | 10/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000029 | 26902393 | XXXX | 09/30/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Owners policy loss of income coverage amount of $5k is < 6 mos P&I payments | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-10-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Loss of rents coverage amount < 6 mos P&I. comp Factor: LTV<br>Buyer Comment (2022-10-04): Exception noted on uploaded approval |  |  | 10/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000030 | 26902867 | XXXX | 09/30/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Property has been listed for sale in the past 12 months. |  | Cash out on property held < 6 mos. (inherited) An approved exception is not documented. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-10-05): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for cashout on inherited property within 6 mos. comp Factor: LTV<br>Buyer Comment (2022-10-04): Exception noted on uploaded approval |  |  | 10/05/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000032 | 26881451 | XXXX | 09/30/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Approved exception at origination for missing lease. Comp. Factors: Seasoned Investor, FICO. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- seasoned investor<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-09-28): Approved exception at origination for missing lease. Comp. Factors: Seasoned Investor, FICO. |  |  | 09/28/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000033 | 26911137 | XXXX | 10/04/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Underwritten vacancy of 3% per Analyst review is < guideline min vacancy assumption of 5% | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-10-17): Exception waived. Updated approval received in trailing documents approving exception for underwritten vacancy percentage. Comp factor, FICO.<br>Buyer Comment (2022-10-17): Exception noted on uploaded approval |  |  | 10/17/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000033 | 26911138 | XXXX | 10/04/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | 1) Missing leases for 2 of 5 units. 2) occupancy discrepancy-Analyst review reflects 100% occupancy, however approval narrative indicates 80%. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-10-17): Exception waived. Updated approval received in trailing documents approving exception for missing Lease Agreement. Comp factor, FICO. Corrected approval reflects 100% occupied.<br>Buyer Comment (2022-10-17): 1. Exception noted for missing leases. 2. corrected approval uploaded |  |  | 10/17/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000034 | 26911012 | XXXX | 10/04/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-10-03): Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: Seasoned Investor. |  |  | 10/03/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000035 | 26911028 | XXXX | 10/04/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-10-03): Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: Seasoned Investor. |  |  | 10/03/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000036 | 26911128 | XXXX | 10/04/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | FICO is < 650. An approved exception is not documented. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-05): Exception waived. Updated approval received in trailing documents approving exception for FICO < 650. Comp factors, LTV and Reserves.<br>Buyer Comment (2022-10-05): Exception noted on uploaded approval |  |  | 10/05/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000036 | 26916550 | XXXX | 10/04/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Wind deductible of 3% on 952k coverage amount exceeds guideline max wind deductible of $25k | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-10-05): Exception waived. Updated approval received in trailing documents approving exception for Wind Coverage deductible. Comp factor, LTV.<br>Buyer Comment (2022-10-05): Exception noted on uploaded approval |  |  | 10/05/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000037 | 26922720 | XXXX | 10/05/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) EOI reflects $100k all perils deductible which exceeds guideline max deductible of $10k 2) wind deductible of 5% on $1.1MM coverage exceeds guideline max wind deductible of $25k. 3) missing loss of rents coverage 4) missing $2MM gen agg liability | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-10-06): Exception waived. Updated approval received in trailing documents approving exceptions for all peril and wind deductibles missing loss of rent/business income coverage, and aggregate liability of 2 million. Comp factor, seasoned investor.<br>Buyer Comment (2022-10-06): Exceptions noted on uploaded approval |  |  | 10/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000037 | 26923982 | XXXX | 10/05/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for DSCR < 1.20x guideline min requirement for multifamily property with loan > $500k. Comp Factors - Reserves, Seasoned Investor. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF_ reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-05): Approved exception at origination for DSCR < 1.20x guideline min requirement for multifamily property with loan > $500k. Comp Factors - Reserves, Seasoned Investor. |  |  | 10/05/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000038 | 26913668 | XXXX | 10/04/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI (owners policy) is missing law & ordinance coverage | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-01): Exception waived. Updated approval received in trailing documents approving exception for Law & Ordinance coverage. Comp factors, FICO and seasoned investor.<br>Buyer Comment (2022-11-01): Exception noted on uploaded approval |  |  | 11/01/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000039 | 26914779 | XXXX | 10/04/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | 1 of 2 guarantors has < 2 active major tradelines on credit report. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-10-05): Exception waived. Updated approval received in trailing documents approving exception for < 2 major tradelines. Comp factor, reserves.<br>Buyer Comment (2022-10-05): Exception written |  |  | 10/05/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000039 | 26914800 | XXXX | 10/04/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing Law & Ordinance coverage. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-10-05): Exception waived. Updated approval received in trialing documents approving exception for missing Law & Ordinance coverage. Comp factor, reserves.<br>Buyer Comment (2022-10-05): Exception noted on uploaded approval |  |  | 10/05/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000041 | 26924176 | XXXX | 10/05/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI is missing per occ/ gen agg liability coverage details. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-10-17): Exception waived. Updated approval received in trailing documents approving exception for aggregate/per occ liability. Comp factor, reserves.<br>Buyer Comment (2022-10-17): Exception noted on uploaded approval<br>Reviewer Comment (2022-10-06): Exception remains- Uploaded approval is for incorrect borrower/subject property.<br>Buyer Comment (2022-10-06): Exception noted on uploaded approval |  |  | 10/17/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000042 | 26911165 | XXXX | 10/04/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Missing lease for Trad 2 property with loan > $1MM. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF_ seasoned business | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-05): Exception waived. Updated approval received in trailing documents approving exception for no Lease/owner/user property. Comp factor, FICO and seasoned business.<br>Buyer Comment (2022-10-05): Exception noted on uploaded approval |  |  | 10/05/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000042 | 26911166 | XXXX | 10/04/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for DSCR < 1.0x Guideline min requirement for owner user trad 2 property purchase with loan > $800k. Comp. Factors: Reserves, FICO, Seasoned Business. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- reserves<br>CF- FICO<br>CF_ seasoned business | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-03): Approved exception at origination for DSCR < 1.0x Guideline min requirement for owner user trad 2 property purchase with loan > $800k. Comp. Factors: Reserves, FICO, Seasoned Business. |  |  | 10/03/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000043 | 26914265 | XXXX | 10/04/2022 | Credit | Loan Package Documentation | Loan File | Missing Document |  | Missing Document: Hazard Insurance Policy not provided |  | Missing Condo Master Policy. | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-10-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing condo master policy. comp Factor: FICO<br>Buyer Comment (2022-10-05): Exception noted on uploaded approval. HO6 provides sufficient coverages |  |  | 10/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000044 | 26911148 | XXXX | 10/04/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | Unable to determine comp factor for Approved exception for LTV > 70% for cash out on investor retail property. Status is unmitigated | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF- Seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br>Reviewer Comment (2022-10-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for LTV > 70% on cash out of investor retail property.. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-10-05): Exception mitigated on uploaded approval |  |  | 10/06/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000044 | 26913434 | XXXX | 10/04/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing Wind/Hail coverage. | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-10-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Wind/hail coverage. comp Factor: FICO<br>Buyer Comment (2022-10-05): Exception noted on uploaded approval |  |  | 10/06/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000045 | 26911106 | XXXX | 10/04/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV over 75% |  | Approved exception at origination for LTV > 75% on multifamily purchase. Comp. Factors: Seasoned Investor, FICO, Reserves. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF- reserves<br>CF_ reserves | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-03): Approved exception at origination for LTV > 75% on multifamily purchase. Comp. Factors: Seasoned Investor, FICO, Reserves. |  |  | 10/03/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000045 | 26911107 | XXXX | 10/04/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-10-03): Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: Seasoned Investor. |  |  | 10/03/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000046 | 26939447 | XXXX | 10/18/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp. Factors: LTV, Seasoned Investor. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record | CF- LTV<br>CF- seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-13): Approved exception at origination for FICO < 650. Comp. Factors: LTV, Seasoned Investor. |  |  | 10/13/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000046 | 26939448 | XXXX | 10/18/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exceptions at origination for 1) missing VOR- primary; borrower lives rent free. 2) missing VOM-subject. Comp. Factors: LTV, Seasoned Investor. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record | CF- LTV<br>CF- seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-13): Approved exceptions at origination for 1) missing VOR- primary; borrower lives rent free. 2) missing VOM-subject pay history. Comp. Factors: LTV, Seasoned Investor. |  |  | 10/13/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000047 | 26960643 | XXXX | 10/13/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exceptions at origination for 1) missing VOR-primary; guarantor lives rent free, and 2) Incomplete VOM-subject; cash payments. Comp. factor; FICO, Seasoned Investor, Reserves. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- FICO<br>CF- reserves<br>CF- seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-12): Approved exceptions at origination for 1) missing VOR-primary; guarantor lives rent free, and 2) Incomplete VOM-supbect pay history; cash payments. Comp. factor; FICO, Seasoned Investor, Reserves. |  |  | 10/12/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000048 | 27144076 | XXXX | 11/03/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Vacant property on a cash out refinance. An approved exception was not documented. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-09): Exception waived. Updated approval received in trailing documents approving exception for vacant property. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-09): Exception noted on uploaded approval |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000049 | 26939401 | XXXX | 10/14/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Missing lease agreement for subject SFR refinance transaction.(subject appears to be a ST rental) | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF- seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing lease. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-10-17): Exception noted on uploaded approval |  |  | 10/17/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000049 | 26939404 | XXXX | 10/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Per the appraisal, subject is temporarily not listed. no cancelled listing agreement provided. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF- seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for recently listed property. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-10-17): Exception noted on uploaded approval |  |  | 10/17/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000051 | 26969497 | XXXX | 10/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing the 12 month VOM- subject property and primary residence. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOM-subject. comp Factor: Seasoned investor<br>Buyer Comment (2022-10-17): VOR Primary. VOM Subject - Exception written (provided, but in non borrowing spouses name) |  |  | 10/17/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000053 | 26939831 | XXXX | 10/13/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing 12 mos pay history for 1) VOM-primary for both guarantors. 2) VOM- subject | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing pay history for VOM-subject and primary. comp Factor: FICO<br>Buyer Comment (2022-10-17): Loan is a purchase transaction, there is no VOM for subject property<br>Buyer Comment (2022-10-17): Exception noted for Co-Borrower Primary<br>Buyer Comment (2022-10-17): VOM Primary - Spencer VCC Credit report and statement provided |  |  | 10/17/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000054 | 26939859 | XXXX | 10/18/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; borrower lives rent free.. Comp. Factors: Seasoned Investor, Reserves. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-13): Approved exception at origination for missing VOR-primary; borrower lives rent free.. Comp. Factors: Seasoned Investor, Reserves. |  |  | 10/13/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000054 | 26939860 | XXXX | 10/18/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Subject is 100% vacant per analyst review and no lease provided for a refi transaction. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-10-20): Exception waived. Updated approval received in trailing documents approving exception for no lease/vacant. Comp factor, seasoned investor.<br>Buyer Comment (2022-10-20): Exception noted on uploaded approval |  |  | 10/20/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000055 | 26960945 | XXXX | 10/13/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception for FICO < 650. Comp factors: Seasoned Investor, Reserves. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF_ reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-12): Approved exception for FICO < 650. Comp factors: Seasoned Investor, Reserves. |  |  | 10/12/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000055 | 26961026 | XXXX | 10/13/2022 | Credit | Credit | Credit Eligibility | Guideline |  | Guideline Issue: Derogatory mortgage payments outside of credit guidelines |  | Approved exception for 1x 30 within 90 days on investment property mortgage. Comp factors: Seasoned Investor, Reserves. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF_ reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-12): Approved exception for 1x 30 within 90 days on investment property mortgage. Comp factors: Seasoned Investor, Reserves. |  |  | 10/12/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000055 | 26961054 | XXXX | 10/13/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI does not contain liability insurance. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF_ reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-01): Exception waived. Updated approval received in trailing documents approving exception for liability coverage. Comp factors, seasoned investor and reserves.<br>Buyer Comment (2022-11-01): Exception noted on uploaded approval |  |  | 11/01/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000056 | 26939458 | XXXX | 10/13/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Approved exception at origination for cashout on property held < 6 mos and using AV > PP. Comp factors: Seasoned Investor, LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record | CF- LTV<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-11): Approved exception at origination for cashout on property held < 6 mos and using AV > PP. Comp factors: Seasoned Investor, LTV. |  |  | 10/11/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000056 | 26939463 | XXXX | 10/13/2022 | Credit | Credit | Credit Eligibility | Guideline |  | Guideline Issue: Derogatory mortgage payments outside of credit guidelines |  | Approved exception at origination for 1x30 within 90 days. Comp factor: LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-10-11): Approved exception at origination for 1x30 within 90 days. Comp factor: LTV. |  |  | 10/11/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000056 | 26939464 | XXXX | 10/13/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for Missing / incomplete VOM/Land contract payment history. Comp factor: LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-10-11): Approved exception at origination for Missing / incomplete VOM/Land contract payment history. Comp factor: LTV. |  |  | 10/11/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000057 | 26939414 | XXXX | 10/18/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Less than 2 major credit lines reported. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-10-20): Exception waived. Updated approval received in trailing documents approving exception for less than 2 major tradelines. Comp factor, seasoned investor.<br>Buyer Comment (2022-10-20): Exception noted on uploaded approval |  |  | 10/20/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000057 | 26980481 | XXXX | 10/18/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | 1 of 3 subject properties is 100% vacant per analyst review | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-10-20): Exception waived. Updated approval received in trailing documents approving exception for vacancy on a refinance. Comp factor, seasoned investor.<br>Buyer Comment (2022-10-20): Exception noted on uploaded approval |  |  | 10/20/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000058 | 26939679 | XXXX | 10/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp. Factor: LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-10-13): Approved exception at origination for FICO < 650. Comp. Factor: LTV. |  |  | 10/13/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000058 | 26979675 | XXXX | 10/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-primary; guarantor lives rent free. An approved exception is not documented. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary; guarantor lives rent free. comp Factor: Seasoned investor<br>Buyer Comment (2022-10-17): Exception noted on uploaded approval |  |  | 10/17/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000059 | 26975749 | XXXX | 10/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Insured is individual guarantor and not borrowing Business Entity. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF- seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for guarantor named as insured. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-10-17): Exception noted on uploaded approval |  |  | 10/17/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000063 | 27145264 | XXXX | 11/03/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp factor, LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-11-02): Approved exception at origination for FICO < 650. Comp factor, LTV. |  |  | 11/02/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000063 | 27145275 | XXXX | 11/03/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOM on subject. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-11-09): Exception waived. Updated approval received in trailing documents approving exception for VOM. Comp factor, LTV.<br>Buyer Comment (2022-11-09): Exception noted on uploaded approval |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000064 | 26939705 | XXXX | 10/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp. Factor: Low LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-10-13): Approved exception at origination for FICO < 650. Comp. Factor: Low LTV. |  |  | 10/13/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000067 | 26939469 | XXXX | 10/13/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-primary; guarantor lives rent free. 2) missing VOM-subject. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ LTV | SitusAMC,Originator | Reviewer Comment (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing VOR-primary. comp Factor: LTV<br>Buyer Comment (2022-10-17): 1) Exception noted for VOR - Rent Free 2. Per Prelim and final HUD, property is owned F&C, therefore there is no VOM |  |  | 10/17/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000067 | 26955371 | XXXX | 10/13/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for Basic form coverage type. Comp factor: LTV, FICO | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ LTV<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-11): Approved exception at origination for Basic form coverage type. comp factor: LTV, FICO |  |  | 10/11/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000067 | 26955375 | XXXX | 10/13/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing Wind/Hail coverage. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ LTV<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing wind/hail coverage. comp Factor: LTV, FICO<br>Buyer Comment (2022-10-17): Exception noted on uploaded approval |  |  | 10/17/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000068 | 26973566 | XXXX | 10/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing 12 mos for VOM/VOR-primary for both guarantors | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOM-primary. comp Factor: FICO<br>Buyer Comment (2022-10-17): Exception noted for Fred<br>Buyer Comment (2022-10-17): Spencer - Shown on VCC credit report + Uploaded |  |  | 10/17/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000069 | 26979919 | XXXX | 10/14/2022 | Credit | Credit | Credit Documentation | Missing Document |  | Missing Document: Credit Report not provided |  | Credit report aged > 60 days | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-10-17): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for credit report aged > 60 days. comp Factor: LTV<br>Buyer Comment (2022-10-17): Exception noted on uploaded approval |  |  | 10/17/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000070 | 26975345 | XXXX | 10/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) Missing loss of rents coverage 2) missing wind/hail coverage 3) lender is not named as loss payee | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-11-09): Exception waived. Updated approval received in trailing documents approving exception for missing Wind/Hail, loss of rent coverage and Flood. Comp factor, low LTV.<br>Buyer Comment (2022-11-09): 1) exception noted on uploaded approval approval 2) exception noted on uploaded approval 3) pending |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000072 | 26939560 | XXXX | 10/13/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOM for the subject without an approved exception at origination. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for VOM. Comp factor, LTV.<br>Buyer Comment (2022-10-17): Excepton noted on uploaded approval |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000075 | 26939572 | XXXX | 10/14/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Missing lease for subject SFR refinance transaction | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for no Lease. Comp factor, seasoned investor.<br>Buyer Comment (2022-10-18): Exception noted ono uploaded approval |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000075 | 26939574 | XXXX | 10/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property is ineligible. |  | Rural subject propert; rurality check: Fail per approval. An approved exception is not documented. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for Rural property. Comp factor, seasoned investor.<br>Buyer Comment (2022-10-18): Exception noted on uploaded approval |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000076 | 26955358 | XXXX | 10/13/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Less than 2 major tradeline on credit report. | The representative FICO score exceeds the guideline minimum by XX points.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record | The representative FICO score exceeds the guideline minimum by XX points.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record. | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for tradelines. Comp factors, LTV, FICO, and seasoned investor.<br>Buyer Comment (2022-10-18): Exception noted on uploaded approval |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000077 | 26939740 | XXXX | 10/18/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV over 75% |  | Approved exception at origination for LTV > 75% on cashout refi of SFR. Comp. Factors: Seasoned Investor, Reserves. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-13): Approved exception at origination for LTV > 75% on cashout refi of SFR. Comp. Factors: Seasoned Investor, Reserves. |  |  | 10/13/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000077 | 26939742 | XXXX | 10/18/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Approved exception at origination for 67.9% vacancy/ missing lease. Comp. Factors: Seasoned Investor, Reserves. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-13): Approved exception at origination for 67.9% vacancy/ missing lease. Comp. Factors: Seasoned Investor, Reserves. |  |  | 10/13/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000077 | 26980247 | XXXX | 10/18/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Property has been listed for sale in the past 12 months. |  | Approved exception at origination for cashout on property held < 12 months. Comp. Factors: Seasoned Investor, Reserves. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-13): Approved exception at origination for cashout on property held < 12 months. Comp. Factors: Seasoned Investor, Reserves. |  |  | 10/13/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000078 | 26939798 | XXXX | 10/13/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing the complete 12 month payment history for the borrower's current and previous primary residence. The current residence is rated for 5 months per credit supplement.. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for less than 12 month VOM. Com factors, FICO and seasoned investor.<br>Buyer Comment (2022-10-18): Exception noted on uploaded approval |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000079 | 26981871 | XXXX | 10/18/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) Liability coverage is < guideline min requirement of $1mm/occ & $2MM gen aggregate for traditional 2 property type. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-10-20): Exception waived. Updated approval received in trailing documents approving exception for aggregate coverage of 2 mim missing. Comp factor, reserves.<br>Buyer Comment (2022-10-20): Exception noted for aggregate. Policy has 500K and an extended coverage of 500K for liability which is sufficient for the 1MM in coverage. |  |  | 10/20/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000079 | 26981881 | XXXX | 10/18/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Less than 2 major credit lines on credit report. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-10-20): Exception waived. Updated approval received in trailing documents approving exception for less than 2 major tradelines. Comp factor, reserves.<br>Buyer Comment (2022-10-20): Exception noted on uploaded approval |  |  | 10/20/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000080 | 26939334 | XXXX | 10/13/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | FICO < 650. An approved exception is not documented. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | Borrower's Experience/Track Record.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for FICO. Comp factors, LTV and seasoned investor. Reserves could not be used as a comp factor as they were not verified.<br>Buyer Comment (2022-10-18): Exception noted on uploaded approval |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000080 | 26954292 | XXXX | 10/13/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Less than 2 major trade lines on credit report. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | Borrower's Experience/Track Record.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for less than 2 major trade lines. Comp factors, LTV and seasoned investor. Reserves were not verified and could not be used as a comp factor.<br>Buyer Comment (2022-10-18): Exception noted on uploaded approval |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000081 | 26946574 | XXXX | 10/13/2022 | Credit | Guideline | Guideline Issue | Guideline |  | Note loan amount is less than guideline minimum. | Note loan amount of $XXXX is less than guideline minimum loan amount of $100,000. | Approved exception at origination for loan amount < $100k for traditional property type. Comp. Factors: Seasoned Investor, FICO. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF- seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-10): Approved exception at origination for loan amount < $100k for traditional property type. Comp. Factors: Seasoned Investor, FICO. |  |  | 10/10/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000082 | 26939163 | XXXX | 10/13/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) Missing Law & Ordinance coverage. 2) EOI reflects exclusion of named storm coverage. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for missing Law & Ordinance coverage. Comp factors, LTV and seasoned investor. Policy does not exclude any coverage, #2 does not apply.<br>Buyer Comment (2022-10-18): 1) Exception noted on uploaded approval 2) policy contains W&H as per guideline |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000082 | 26939164 | XXXX | 10/13/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Debt Service is < 1.0x for owner-user mixed use refi with loan > $500k | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for DCR. Comp factor, LTV.<br>Buyer Comment (2022-10-18): Exception noted on uploaded approval |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000082 | 26939165 | XXXX | 10/13/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Underwritten vacancy of 4% per Analyst review is < guideline min vacancy assumption of 5%. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for underwritten vacancy ratio. Comp factors, LTV and seasoned investor.<br>Buyer Comment (2022-10-18): Exception noted on uploaded approval |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000082 | 26946558 | XXXX | 10/13/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-primary. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for VOR. Comp factor, LTV.<br>Buyer Comment (2022-10-18): Exception noted on uploaded approval for private party VOR OK |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000083 | 26939204 | XXXX | 10/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for subject DSCR < 1.20x guideline min requirement for investor mixed-use property with loan > $500k. Comp. Factor: Seasoned investor | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-10-13): Approved exception at origination for subject DSCR < 1.20x guideline min requirement for investor mixed-use property with loan > $500k. Comp. Factor: Seasoned investor |  |  | 10/13/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000083 | 26939205 | XXXX | 10/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-10-13): Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp. Factor: Seasoned Investor. |  |  | 10/13/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000083 | 26939206 | XXXX | 10/14/2022 | Credit | Credit | Credit Eligibility | Guideline |  | Guideline Issue: Derogatory mortgage payments outside of credit guidelines |  | Approved exception at origination for subject mortgage currently 30 days past due at origination, and 1x60 within12 months. Comp. Factors: Seasoned Investor, | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-10-13): Approved exception at origination for subject mortgage currently 30 days past due at origination, and 1x60 within12 months. Comp. Factors: Seasoned Investor, |  |  | 10/13/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000083 | 26977426 | XXXX | 10/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Wind/hail/named storm deductible of 3% on $1MM coverage amount exceeds guideline max wind deductible of $25k | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for wind deductible amount. comp Factor: Seasoned investor<br>Buyer Comment (2022-10-18): Exception noted on uploaded approval |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000084 | 26939153 | XXXX | 10/13/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for DSCR < 1.20x on multifamily (traditional 1) property with loan > $500k. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-10-11): Approved exception at origination for DSCR < 1.20x on multifamily (traditional 1) property with loan > $500k. Comp. Factor: Seasoned Investor. |  |  | 10/11/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000084 | 26939155 | XXXX | 10/13/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR/VOM-primary. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- seasoned investor<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for VOM. Comp factors, FICO and seasoned investor.<br>Buyer Comment (2022-10-18): Exception noted on uploaded approval |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000084 | 26939156 | XXXX | 10/13/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Underwritten vacancy of 4% per Analyst review is < guideline min vacancy assumption of 5%. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- seasoned investor<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived. Updated approval received in trailing documents approving exception for underwritten vacancy ratio. Comp factors, FICO and seasoned investor.<br>Buyer Comment (2022-10-18): Exception noted on uploaded approval |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000085 | 27184742 | XXXX | 11/08/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Unable to determine comp. factor for Approved exception for Missing VOR-primary; guarantor lives rent free. Status is unmitigated. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br>Reviewer Comment (2022-11-09): Exception waived. Updated approval received in trailing documents approving exception for VOR. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-09): Exception mitigated on uploaded approval |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000085 | 27184769 | XXXX | 11/08/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Approved exception at origination for <2 major tradelines. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-07): Approved exception at origination for <2 major tradelines. Comp. Factor: Seasoned Investor. |  |  | 11/07/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000085 | 27185691 | XXXX | 11/08/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing Law & ord coverage a | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-09): Exception waived. Updated approval received in trailing documents approving exception for Law & Ordinance coverage. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-09): Exception noted on uploaded approval |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000086 | 26939265 | XXXX | 10/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for subject DSCR < 1.0x guideline min requirement for owner-user mixed-use property with loan > $800k. Comp. Factor: Seasoned investor | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-10-13): Approved exception at origination for subject DSCR < 1.0x guideline min requirement for owner-user mixed-use property with loan > $800k. Comp. Factor: Seasoned investor |  |  | 10/13/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000086 | 26939266 | XXXX | 10/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Unable to substantiate use of Strong reserves as sole comp factor for Approved exception for missing VOR-primary; Guarantor lives rent free. Approval assets section reflects 'NA' and cash out from subject is < 1 mo P&I | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary; guarantor lives rent free. comp Factor: Reserves<br>Buyer Comment (2022-10-18): Corrected Loan Approval uploaded |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000086 | 26939267 | XXXX | 10/14/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Unable to substantiate use of Strong reserves as sole comp factor for Approved exception at origination for missing lease/vacant commercial unit. Approval assets section reflects 'NA' and cash out from subject is < 1 mo P&I | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing lease/vacant commercial unit. comp Factor: Reserves<br>Buyer Comment (2022-10-18): Corrected Loan Approval uploaded |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000086 | 26977673 | XXXX | 10/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Unable to substantiate use of Strong reserves as sole comp factor for Approved exception at origination for $20k in deferred maint on subject. Approval assets section reflects 'NA' and cash out from subject is < 1 mo P&I | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for $20k in deferred maint on subject. comp Factor: Reserves<br>Buyer Comment (2022-10-18): corrected loan approval uploaded |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000086 | 26977721 | XXXX | 10/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Wind/hail/named storm deductible terms/details are not provided in EOI documentation provided. (update- EOI received reflects wind deductible of 3% on $1MM coverage amount which exceeds guideline max wind deductible of $25k.) | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for wind deductible amount. comp Factor: Seasoned investor<br>Buyer Comment (2022-10-18): Corrected insurance uploaded. Exception noted for deductible > guideline max |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000087 | 26939301 | XXXX | 10/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOM-primary pay history. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-10-13): Approved exception at origination for missing VOM-primary pay history. Comp. Factor: Seasoned Investor. |  |  | 10/13/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000088 | 26950523 | XXXX | 10/13/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Proof of Residency Status not provided |  | Approved exception at origination for expired visas for both guarantors. Comp. Factors: Reserves, Seasoned Investor, Seasoned Business. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor, seasoned business<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-11): Approved exception at origination for expired visas for both guarantors. Comp. Factors: Reserves, Seasoned Investor, Seasoned Business. |  |  | 10/11/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000088 | 26950650 | XXXX | 10/13/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI (owners policy) does not contain law & ordinance coverage | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor, seasoned business<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage. comp Factor: Seasoned investor, seasoned business, reserves<br>Buyer Comment (2022-10-18): Exception noted on uploaded approval |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000088 | 26950652 | XXXX | 10/13/2022 | Credit | Loan Package Documentation | Loan File | Missing Document |  | Missing Document: Hazard Insurance Policy not provided |  | Missing EOI for condo master policy | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor, seasoned business<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing condo master policy. comp Factor: Seasoned investor, seasoned business, reserves<br>Buyer Comment (2022-10-18): Exception noted on uploaded approval |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000088 | 26954376 | XXXX | 10/13/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Missing required proof of US bank stmt for both foreign national guarantors | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor, seasoned business<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-10-18): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing required US bank stmt. comp Factor: Seasoned investor, seasoned business, reserves<br>Buyer Comment (2022-10-18): Exception noted on uploaded approval |  |  | 10/18/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000117 | 27018427 | XXXX | 10/25/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV over 75% |  | Approved exception at origination for LTV >75%. Comp Factor; Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-10-24): Approved exception at origination for LTV >75%. Comp Factor; Reserves. |  |  | 10/24/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000118 | 27147080 | XXXX | 11/03/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp factor, LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-11-02): Approved exception at origination for FICO < 650. Comp factor, LTV. |  |  | 11/02/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000118 | 27147082 | XXXX | 11/03/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Loan amounts less than $75,000 are not permitted according to the guidelines |  | Approved exception at origination for loan amount < $75,000. Comp factors, LTV and seasoned investor. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | Borrower's Experience/Track Record.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-02): Approved exception at origination for loan amount < $75,000. Comp factors, LTV and seasoned investor. |  |  | 11/02/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000119 | 27147342 | XXXX | 11/03/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR on primary (guarantor lives rent free). An approved exception is not documented. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-09): Exception waived. Updated approval received in trailing documents approving exception for VOR. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-11-09): Exception noted on uploaded approval |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000120 | 27159384 | XXXX | 11/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV over 75% |  | Approved exception at origination for LTV > 75% for subject SFR cashout refi. Comp factors, seasoned investor and FICO. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-03): Approved exception at origination for LTV > 75%. Comp factors, seasoned investor and FICO. |  |  | 11/03/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000120 | 27159465 | XXXX | 11/07/2022 | Credit | Credit | Credit Eligibility | Guideline |  | Guideline Issue: Derogatory mortgage payments outside of credit guidelines |  | Approved exception at origination for 1x60 within last 24 months. Comp factors, FICO and seasoned investor. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-03): Approved exception at origination for 1x60 within last 24 months. Comp factors, FICO and seasoned investor. |  |  | 11/03/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000121 | 27192922 | XXXX | 11/10/2022 | Credit | Property - Appraisal | General Appraisal Requirements | Property - Appraisal |  | Subject is a refinance and property is listed for sale. | Valuation Type: Appraisal / Valuation Report Date: XX/XX/XXXX | Cash out refinance on a property listed within last six months without an approved exception documented. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- seasoned investor<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-15): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for cashout on recently listed property. comp Factor: seasoned investor, FICO<br>Buyer Comment (2022-11-14): Exception noted on uploaded approval |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000126 | 27147608 | XXXX | 11/03/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing loss of rents coverage (neither loss of rents nor loss of use coverage is evidenced). | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for Loss of Rents coverage. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-11-09): Exception noted on uploaded approval |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000128 | 27145440 | XXXX | 11/03/2022 | Credit | Loan Package Documentation | Loan File | Missing Document |  | Missing Document: Hazard Insurance Policy not provided |  | Policy reflects loss of use and not Loss of Rents coverage and policy is a homeowners policy. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for Loss of Rent coverage. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-09): Exception noted on uploaded approval |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000128 | 27145920 | XXXX | 11/03/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Cash out on property held < 6 months using appraised value. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for recently listed. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-09): Exception noted on uploaded approval |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000128 | 27148011 | XXXX | 11/03/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Vacant Property on a refinance. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for vacancy. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-09): Exception noted on uploaded approval |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000129 | 27200103 | XXXX | 11/14/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Loan amounts less than $75,000 are not permitted according to the guidelines |  | Approved exception at origination for loan < $75,000. Comp factors, reserves and seasoned investor. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- Reserves<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-11): Approved exception at origination for loan < $75,000. Comp factors, reserves and seasoned investor. |  |  | 11/11/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000129 | 27201192 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp factors, seasoned investor and reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- Reserves<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-11): Approved exception at origination for FICO < 650. Comp factor, seasoned investor, reserves. |  |  | 11/11/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000129 | 27201256 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for VOM- primary. Comp factor, reserves and seasoned investor. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- Reserves<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-11): Approved exception at origination for incomplete VOM- primary pay history. Comp factor, reserves and seasoned investor. |  |  | 11/11/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000129 | 27201271 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing Wind/Hail coverage. Comp factor, seasoned investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-11): Approved exception origination for missing Wind/Hail coverage. Comp factor, seasoned investor. |  |  | 11/11/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000129 | 27228584 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Approved exception at origination for rural property. Comp factors: Reserves and seasoned investor | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- Reserves<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-11): Approved exception at origination for rural property. Comp factors: Reserves and seasoned investor |  |  | 11/11/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000133 | 27147901 | XXXX | 11/03/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing loss of rents coverage. (neither loss of rents nor loss of use coverage is evidenced on bound coverage documentation in file) | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for Loss of Rents coverage. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-09): Exception noted on uploaded approval |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000134 | 27192582 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing Wind coverage | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for Wind/Hail coverage. Comp factors, FICO and seasoned investor.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000134 | 27193212 | XXXX | 11/10/2022 | Credit | Credit | Credit Documentation | Missing Document |  | Missing Document: Credit Report not provided |  | Approved exception at origination for expired credit report and 1x60 mortgage late. Comp factor, seasoned investor. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-08): Approved exception at origination for expired credit report and 1x60 mortgage late. Comp factor, seasoned investor. |  |  | 11/08/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000134 | 27193225 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Approved exception at origination for vacant property on a refinance. Comp factor, seasoned investor. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-08): Approved exception at origination for vacant property on a refinance. Comp factor, seasoned investor. |  |  | 11/08/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000135 | 27172777 | XXXX | 11/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Unable to determine comp factor for approved exception at origination for FICO < 650. Unmitigated. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | Borrower's Experience/Track Record.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br>Reviewer Comment (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for FICO < 650. Comp factors, seasoned investor and LTV.<br>Buyer Comment (2022-11-09): Exception mitigated on uploaded approval |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000135 | 27172890 | XXXX | 11/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Insured in the name of Guarantors and not borrowing entity. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | Borrower's Experience/Track Record.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for insured. Comp factors, seasoned investor and LTV.<br>Buyer Comment (2022-11-09): Exception noted on uploaded approval |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000135 | 27173013 | XXXX | 11/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Missing Hazard Insurance |  | Missing Condo Master Policy. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | Borrower's Experience/Track Record.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for missing Master Policy (HO6 has sufficient coverage). Comp factors, seasoned investor and LTV.<br>Buyer Comment (2022-11-09): Exception noted on uploaded approval |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000136 | 27207392 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing Loss of Rents coverage. Comp factor; FICO | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-12): Approved exception at origination for missing Loss of Rents coverage. Comp factor; FICO |  |  | 11/12/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000136 | 27233432 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing Wind/Hail coverage. | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for Wind/Hail coverage. Comp factor, FICO.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000137 | 27207594 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Missing Lease. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for No Lease. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000137 | 27207641 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-primary. An approved exception is not documented. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for missing VOR for primary. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000138 | 27203275 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp Factor - LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-11-12): Approved exception at origination for FICO < 650. Comp Factor - LTV. |  |  | 11/12/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000140 | 27206408 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO<650. Comp factor: seasoned investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-12): Approved exception at origination for FICO<650. Comp factor: seasoned investor. |  |  | 11/12/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000140 | 27233427 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Approved exception at origination for missing lease; subject is a ST rental. Comp factor: LTV | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-11-12): Approved exception at origination for missing lease; subject is a ST rental. Comp factor: LTV |  |  | 11/12/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000141 | 27174711 | XXXX | 11/08/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for no VOR on primary (lives rent free). Comp factor, Seasoned Investor. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-07): Approved exception at origination for no VOR on primary (lives rent free). Comp factor, Seasoned Investor. |  |  | 11/07/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000141 | 27174727 | XXXX | 11/08/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Approved exception at origination for value seasoning. Comp factor, Seasoned Investor. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-07): Approved exception at origination for value seasoning. Comp factor, Seasoned Investor. |  |  | 11/07/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000142 | 27233521 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing loss of rents coverage (neither loss of use nor loss of rents coverage reflected). | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for Loss of Rent coverage. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000143 | 27185670 | XXXX | 11/08/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp factor, Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-07): Approved exception at origination for FICO < 650. Comp factor, Seasoned Investor. |  |  | 11/07/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000143 | 27185721 | XXXX | 11/08/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Approved exception at origination for missing lease/ 100% vacancy. Comp factor; Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-07): Approved exception at origination for missing lease/ 100% vacancy. Comp factor; Seasoned Investor. |  |  | 11/07/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000144 | 27207666 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR- primary- Borrower lives rent free. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for missing VOR primary. Comp factor, FICO.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000145 | 27174707 | XXXX | 11/08/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for incomplete VOM on subject. Comp factor, Seasoned Investor, FICO. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-07): Approved exception at origination for incomplete VOM on subject. Comp factor, Seasoned Investor, FICO. |  |  | 11/07/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000145 | 27180749 | XXXX | 11/08/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Missing Hazard Insurance |  | Approved exception at origination for unrated insurance provider. Comp factor, LTV. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-11-07): Approved exception at origination for unrated insurance provider. Comp factor, LTV. |  |  | 11/07/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000146 | 27185794 | XXXX | 11/08/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for incomplete VOR-primary pay history. Comp factor: Seasoned Investor, Reserves. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-08): Approved exception at origination for incomplete VOR-primary pay history. Comp factor: Seasoned Investor, Reserves. |  |  | 11/08/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000146 | 27187255 | XXXX | 11/08/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Approved exception at origination for 100% vacancy/ missing lease for 1 of 3 subject properties. Comp factor: Seasoned Investor, Reserves. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-08): Approved exception at origination for 100% vacancy/ missing lease for 1 of 3 subject properties. Comp factor: Seasoned Investor, Reserves. |  |  | 11/08/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000146 | 27187269 | XXXX | 11/08/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Missing Hazard Insurance |  | Approved exception at origination for policy not paid in file & waiver of insurance impounds. Comp factor: Seasoned Investor, Reserves. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-08): Approved exception at origination for policy not paid in file & waiver of insurance impounds. Comp factor: Seasoned Investor, Reserves. |  |  | 11/08/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000146 | 27187408 | XXXX | 11/08/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI for alll 3 subject properties is missing wind/hail coverage | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-10): Exception waived. Updated approval received in trialing documents approving exception for Wind/Hail coverage. Comp factors, seasoned investor and reserves.<br>Buyer Comment (2022-11-10): Exception noted on uploaded approval |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000147 | 27196775 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO< 650. Comp factor; Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-10): Approved exception at origination for FICO< 650. Comp factor; Seasoned Investor. |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000149 | 27212065 | XXXX | 11/14/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Missing lease agreement/100% vacancy. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | The representative FICO score exceeds the guideline minimum by XX points.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for missing Lease. Comp factors, LTV and FICO.<br>Buyer Comment (2022-11-15): Exception noted for vacant refi |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000150 | 27169678 | XXXX | 11/07/2022 | Credit | Borrower and Mortgage Eligibility | Mortgage / Program Eligibility | Borrower and Mortgage Eligibility |  | The ID documentation (license, passport, Visa) does not show the borrower(s) at an address different than the subject and thus casts doubt on the business purpose of the loan. |  | Driver's license reflects subject address as the Guarantors address. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-10): Exception waived. Updated approval received in trailing documents approving exception for ID reflecting subject as guarantors primary address. Comp factor, seasoned investor and all necessary documents provided as evidence property is tenant occupied.<br>Buyer Comment (2022-11-10): Exception noted for address. Borrower has signed all necessary Business Purpose documents, provided leases and appraiser verified tenant occupied. |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000151 | 27205473 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI (owners policy) reflects loss of use and not Loss of Rents Coverage (Landlord coverage is not evidenced). | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for Loss of Use coverage. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-11-15): Uploaded |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000152 | 27233426 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Approved exception at origination for Rural property. Comp Factor - Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-12): Approved exception at origination for Rural subject property. Comp Factor - Seasoned Investor. |  |  | 11/12/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000153 | 27205904 | XXXX | 11/14/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Approved exception at origination for < 2 active major tradelines on credit report. Comp Factors - Seasoned Investor | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-12): Approved exception at origination for < 2 active major tradelines on credit report. Comp Factors - Seasoned Investor |  |  | 11/12/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000154 | 27201832 | XXXX | 11/14/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Loan amounts less than $75,000 are not permitted according to the guidelines |  | Approved exception at origination for Loan Amount < $75k. Comp Factor - Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for Loan Amount < $75k. Comp Factor - Seasoned Investor. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000154 | 27201908 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing Wind/Hail coverage. Comp Factor - Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-12): Approved exception at origination for missing Wind/Hail coverage. Comp Factor - Seasoned Investor. |  |  | 11/12/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000154 | 27233415 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Property has been listed for sale in the past 12 months. |  | Approved exception at origination for cashout on property held < 12 mos. Comp Factor - Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-12): Approved exception at origination for cashout on property held < 12 mos. Comp Factor - Seasoned Investor. |  |  | 11/12/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000156 | 27163599 | XXXX | 11/07/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Approved exception at origination for vacant subject property on Condo refi. Comp factor, Seasoned Investor, FICO. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ seasoned investor,<br>CF_ FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-03): Approved exception at origination for vacant subject property on Condo refi. Comp factor, Seasoned Investor, FICO. |  |  | 11/03/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000156 | 27163655 | XXXX | 11/07/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing complete VOM- subject. An approved exception is not documented. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ seasoned investor,<br>CF_ FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for incomplete VOM. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000157 | 27163693 | XXXX | 11/03/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing loss of rents coverage (neither loss of rents nor loss of use coverage is evidenced). | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's Experience/Track Record.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for Loss of Rent coverage. Comp factors, seasoned investor and reserves.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000158 | 27233434 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Missing Document |  | Missing Document: Credit Report not provided |  | Approved exception at origination for credit report aged > 60 days. Comp factor: LTV | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-11-12): Approved exception at origination for credit report aged > 60 days. comp factor: LTV |  |  | 11/12/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000158 | 27233435 | XXXX | 11/14/2022 | Credit | Guideline | Guideline Issue | Guideline |  | Note loan amount is less than guideline minimum. | Note loan amount of $XXXX is less than guideline minimum loan amount of $75,000. | Approved exception at origination for loan amount < $75k. Comp factor: LTV, FICO | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- LTV<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-12): Approved exception at origination for loan amount < $75k. comp factor: LTV, FICO |  |  | 11/12/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000158 | 27233436 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Approved exception at origination for 100% vacancy/missing lease on refinance. Comp factor: LTV, FICO | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- LTV<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-12): Approved exception at origination for 100% vacancy/missing lease on subject SFR refi. comp factor: LTV, FICO |  |  | 11/12/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000158 | 27233437 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing 1) loss of rents coverage 2) wind/hail coverage | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>Borrower's Experience/Track Record. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for loss of rent and Wind/Hail coverage. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000162 | 27174690 | XXXX | 11/08/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Approved exception at origination for Rural location. Comp factor, FICO. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-11-07): Approved exception at origination for Rural location. Comp factor, FICO. |  |  | 11/07/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000163 | 27211253 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Cash-out on multiple properties held < 12 months. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for value seasoning. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000164 | 27233443 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI (owners policy) 1) has 80% coinsurance 2) is missing liability coverage | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for missing liability and co-insurance. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000164 | 27233445 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing Proof of primary Residence for foreign investor guarantor | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for missing proof of primary residence for foreign investor. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000165 | 27170699 | XXXX | 11/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Guarantor is listed as the insured and not the borrowing entity. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for insured. Comp factor, LTV.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000165 | 27170761 | XXXX | 11/07/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Rent Roll not provided |  | Approved exception at origination for no Lease/vacant property. Comp factors, LTV and seasoned investor. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | Borrower's Experience/Track Record.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-04): Approved exception at origination for no Lease/vacant property. Comp factors, LTV and seasoned investor. |  |  | 11/04/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000165 | 27170778 | XXXX | 11/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp factor, LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-11-04): Approved exception at origination for FICO < 650. Comp factor, LTV. |  |  | 11/04/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000165 | 27256861 | XXXX | 11/15/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: 1007 Rent Comparison Schedule not provided |  |  | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | Borrower's Experience/Track Record.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-15): Exception waived. Updated approval received in trailing documents approving exception for 1007 comparable rent schedule. Comp factors, seasoned investor and LTV. |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000166 | 27211073 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Unable to substantiate use of strong reserves as sole comp factor for Approved exception for FICO < 650. Underwritten reserves < 6 mos- $164,771 verified per assets section less $147,538.6 req'd to close per final HUD =17,232.4 which equates to < 5 mos P&I pmt. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents with corrected asset section and approving exception for FICO. Comp factor, reserves.<br>Buyer Comment (2022-11-15): Assets section corrected on uploaded approval. Borrower will retain approx an additional 2 mos above the required 3 mos in reserves which is sufficient to mitigate exceptions with. |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000166 | 27236371 | XXXX | 11/14/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Guideline Issue: Ineligible borrower |  | Unable to substantiate use of strong reserves as sole comp factor for Approved exception for First Time Investor with LTV > 70% on 4 family. Underwritten reserves < 6 mos- $164,771 verified per assets section less $147,538.6 req'd to close per final HUD =17,232.4 which equates to < 5 mos P&I pmt. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents with corrected asset section and approving exception for First Time Investor. Comp factor, reserves.<br>Buyer Comment (2022-11-15): Assets section corrected on uploaded approval. Borrower will retain approx an additional 2 mos above the required 3 mos in reserves which is sufficient to mitigate exceptions with. |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000167 | 27174291 | XXXX | 11/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI contains loss of use and not loss of rents coverage (landlord coverage not evidenced). | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for rent loss coverage. Comp factor, LTV.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000167 | 27174297 | XXXX | 11/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp factors: LTV, Reserves. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- LTV<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-05): Approved exception at origination for FICO < 650. Comp factors: LTV, Reserves. |  |  | 11/05/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000167 | 27174299 | XXXX | 11/07/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary guarantor lives rent free. Comp factor: LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-11-05): Approved exception at origination for missing VOR-primary guarantor lives rent free. Comp factor: LTV. |  |  | 11/05/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000167 | 27174306 | XXXX | 11/07/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Approved exception at origination for 100% vacancy/ missing lease. Comp factor: LTV, Reserves. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- LTV<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-05): Approved exception at origination for 100% vacancy/ missing lease. Comp factor: LTV, Reserves. |  |  | 11/05/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000167 | 27174338 | XXXX | 11/07/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | No active major tradelines on credit report. An approved exception is not documented | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for tradelines. Comp factor, reserves.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000168 | 27174918 | XXXX | 11/08/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Approved exception at origination for Vacant/missing lease on refinance. Comp factor, FICO. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-11-07): Approved exception at origination for Vacant/missing lease on refinance. Comp factor, FICO. |  |  | 11/07/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000169 | 27197505 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI does not contain liability coverage. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- reserves<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for the liability coverage affective date. Comp factors, LTV and Reserves.<br>Buyer Comment (2022-12-19): Uploaded proof of liability coverage and updated approval reflecting an exception for Liability effective date |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000169 | 27197949 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp factor: Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-11): Approved exception at origination for FICO < 650. Comp factor: Reserves. |  |  | 11/11/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000169 | 27226834 | XXXX | 11/14/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Guideline Issue: Ineligible borrower |  | Approved exception at origination for First time investor on 4 family purchase with FICO < 650 with LTV > 60%. Comp factor: Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-11): Approved exception at origination for First time investor on 4 family purchase with FICO < 650 with LTV > 60%. Comp factor: Reserves. |  |  | 11/11/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000170 | 27212017 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI 1) contains 90% Coinsurance. 2) does not contain loss of rents coverage. (neither loss of use nor loss of rents coverage indicated) | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for co-insurance and loss of rent coverage. Comp factors, seasoned business and seasoned investor.<br>Buyer Comment (2022-11-15): Exceptions noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000170 | 27233417 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | 100% vacancy/ missing lease. An approved exception is not documented. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for vacancy on a refinance. Comp factor, seasoned business and seasoned investor.<br>Buyer Comment (2022-11-15): Exception noted for vacant refinance |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000173 | 27205156 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI reflects loss of use and not loss of rents coverage without indication of landlord policy. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for loss of rent coverage. Comp factor, LTV.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000174 | 27233510 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Missing Document |  | Missing Document: Credit Report not provided |  | Credit report for 1 of 2 guarantors is aged > 60 days | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for expired credit. Comp factors, LTV and seasoned investor.<br>Buyer Comment (2022-11-15): exception noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000176 | 27174963 | XXXX | 11/08/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Verification of Down Payment Funds not provided |  | 1. Missing evidence of underwritten funds to close. Asset section is blank. 2. Missing verification of funds needed to close. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for unverified funds to close comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-12-19): Excepton noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000176 | 27174965 | XXXX | 11/08/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Approved exception at origination for< 2 active major tradelines. Comp factor, Seasoned Investor. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-07): Approved exception at origination for limited tradelines. Comp factor, Seasoned Investor. |  |  | 11/07/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000176 | 27174966 | XXXX | 11/08/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Approved exception at origination for credit report aged > 60 days. Comp factor, Seasoned Investor. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-07): Approved exception at origination for credit report expired. Comp factor, Seasoned Investor. |  |  | 11/07/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000177 | 27174244 | XXXX | 11/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing Loss of Rents coverage. Comp factor: Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-04): Approved exception at origination for missing Loss of Rents coverage. Comp factor: Seasoned Investor. |  |  | 11/04/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000177 | 27174272 | XXXX | 11/07/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Approved exception at origination for missing lease; subject is AirBNB. Comp factor: Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-04): Approved exception at origination for missing lease; subject is AirBNB. Comp factor: Seasoned Investor. |  |  | 11/04/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000177 | 27174275 | XXXX | 11/07/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Approved exception at origination for < 2 active major tradelines Comp factor: Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-04): Approved exception at origination for < 2 active major tradelines Comp factor: Seasoned Investor. |  |  | 11/04/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000177 | 27174279 | XXXX | 11/07/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOM-primary for both guarantors. An approved exception is not documented. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-28): Exception waived. Updated approval received in trailing documents approving exception for Primary VOM. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-28): Uploaded<br>Reviewer Comment (2022-11-26): Exception remains; uploaded approval is not for subject borrower entity/ subject property.<br>Buyer Comment (2022-11-21): Uploaded<br>Reviewer Comment (2022-11-16): Exception remains. VOM for primary residence is missing. Exception written for subject with no lease.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/28/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000177 | 27174337 | XXXX | 11/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | LTV > 65% for foreign investor with no FICO. An approved exception is not documented. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for LTV. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000179 | 27187846 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1. Loss of rent coverage is less than 1 months rent..<br>2. Liability coverage less than $300,000 on each property. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ LTV | SitusAMC,Originator | Reviewer Comment (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for 1) missing loss of rents coverage and 2) insufficient liability coverage amount comp Factor: LTV<br>Buyer Comment (2022-11-21): Uploaded |  |  | 11/26/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000179 | 27187912 | XXXX | 11/10/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOM on both subjects. An approved exception is not documented. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOM for both subjects comp Factor: seasoned investor<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/26/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000180 | 27229933 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Approved exception at origination for no Lease. Comp factors, FICO and reserves. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-11): Approved exception at origination for no Lease. Comp factors, FICO and reserves. |  |  | 11/11/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000180 | 27229942 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for liability coverage less than $300,000. Comp factor, FICO. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-11-11): Approved exception at origination for liability coverage less than $300,000. Comp factor, FICO. |  |  | 11/11/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000180 | 27229996 | XXXX | 11/14/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Rent Roll not provided |  | Less than 12 months value seasoning with appraised value used versus purchase price. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-28): Exception waived. Updated approval received in trailing documents approving exception for value seasoning. Comp factors, FICO and reserves.<br>Buyer Comment (2022-11-28): Uploaded<br>Reviewer Comment (2022-11-26): Exception remains- Provided title reflects entity as vested owner. Subject note borrower is an individual. An approved exception is not documented<br>Buyer Comment (2022-11-21): Item #17 of Schedule C shows the properties conveyed to borrowing entity 8x/xx/xx and x/xx/xx With recording information provided.<br>Reviewer Comment (2022-11-16): Exception remains. Borrower purchased property from an entity that he has no interest in on x/xxxx. Copy of Purchase Contract in file.<br>Buyer Comment (2022-11-15): Guarantor has been on title to the property since June of xxxx. He then transferred title to borrowing entity in September of this year. There is not a value seasoning issue since last transfer was deed and prior sale occurred in xxxx |  |  | 11/28/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000181 | 27195066 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing wind/hail coverage. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for Wind/Hail coverage. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000181 | 27195080 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Approved exception at origination for missing Leases. on a refi. Comp factor: Seasoned Investor, LTV. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ seasoned investor<br>CF_ LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-10): Approved exception at origination for missing Leases for subject 3 family property refi. Comp factor: Seasoned Investor, LTV. |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000181 | 27195102 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR - primary. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ LTV | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for VOR. Comp factor, LTV. |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000181 | 27221443 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Missing Document |  | Missing Document: Credit Report not provided |  | Approved exception at origination for credit report aged > 60 days. Comp factor: Seasoned Investor, LTV. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ seasoned investor<br>CF_ LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-10): Approved exception at origination for credit report aged > 60 days. Comp factor: Seasoned Investor, LTV. |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000182 | 27207637 | XXXX | 11/10/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | 100% Vacancy/missing lease on a refinance. An approved exception is not documented. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for vacancy. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000182 | 27213738 | XXXX | 11/10/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Proof of Residency Status not provided |  | Missing green card for permanent resident alien as indicated on application. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-28): Exception waived. Updated approval received in trailing documents approving exception for VISA/Green card. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-28): Exception for Work Authorization card uploaded<br>Reviewer Comment (2022-11-26): Exception remains- a Valid Visa/Greencard is required. (the uploaded documentation consisting of employment auth card and I-797C does not establish any valid proof of immigration status.<br>Buyer Comment (2022-11-22): Corrected loan approval uploaded to support borrowers provide documents on non perm resident alien<br>Reviewer Comment (2022-11-16): Exception remains. Application indicates borrower is a permanent resident alien. Work permit card does not support that. Work permit is required when non-permanent resident.<br>Buyer Comment (2022-11-15): Copies of borrowers work authorization card, copy of the request for extension dated x/xx/xx. Which was daated before the expiration of the card. |  |  | 11/28/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000185 | 27233161 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-primary; borrower lives rent free with Fiance. An approved exception is not documented. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for missing VOR primary. Comp factor, reserves.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000187 | 27207724 | XXXX | 11/14/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Approved exception at origination for 100 % vacancy/ missing lease. Comp. Factors: Seasoned Investor, Reserves. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for 100 % vacancy/ missing lease. Comp. Factors: Seasoned Investor, Reserves. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000187 | 27207729 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Approved exception at origination for cashout on property held < 12 months/ listed within 6 months. Comp. Factors: Seasoned Investor, Reserves. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for cashout on property held < 12 months/ listed within 6 months. Comp. Factors: Seasoned Investor, Reserves. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000187 | 27236908 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Missing Hazard Insurance |  | Approved exception at origination for policy not paid in full; on payment plan & waiver of insurance impounds. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for policy not paid in full; on payment plan & waiver of insurance impounds. Comp. Factor: Seasoned Investor. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000189 | 27204166 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI reflects individual guarantor as insured and not the borrowing entity. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | Borrower's Experience/Track Record.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for name of insured. Comp factors, LTV and seasoned investor.<br>Buyer Comment (2022-11-15): Exception noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000190 | 27207672 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for Missing VOM-Primary. Comp factor: FICO. | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-10): Approved exception at origination for Missing VOM-Primary 12 mo pay history. Comp factor: FICO. |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000191 | 27193374 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing Wind/Hail Coverage. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for Wind/Hail coverage. Comp factor, FICO.<br>Buyer Comment (2022-11-16): Uploaded |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000191 | 27193418 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV over 75% |  | Approved exception at origination for LTV >75%. Comp factor: seasoned investor. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-08): Approved exception at origination for LTV >75%. Comp factor: seasoned investor |  |  | 11/08/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000191 | 27193430 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Loan Amount below $250,000 |  | Approved exception at origination for loan amount < $75,000. . Comp factor: seasoned investor. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-08): Approved exception at origination for loan amount < $75,000. . Comp factor: seasoned investor. |  |  | 11/08/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000191 | 27193465 | XXXX | 11/10/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR on primary housing. Comp factor: seasoned investor. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-08): Approved exception at origination for missing VOR on primary housing. Comp factor: seasoned investor. |  |  | 11/08/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000192 | 27207541 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property is ineligible. |  | Approved exception at origination for Rural property. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF- Seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for Rural subject property. Comp. Factor: Seasoned Investor. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000193 | 27189877 | XXXX | 11/10/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved Exception at origination for incomplete VOM-primary Pay history. Comp Factors - Seasoned Investor, LTV, Reserves. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ seasoned investor<br>CF- reserves<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved Exception at origination for incomplete VOM-primary Pay history. Comp Factors - Seasoned Investor, LTV, Reserves. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000193 | 27189919 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved Exception at origination for missing Wind/Hail coverage. Comp Factor - Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved Exception at origination for missing Wind/Hail coverage. Comp Factor - Seasoned Investor. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000193 | 27204595 | XXXX | 11/10/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Approved exception at origination for Missing lease/100% Vacancy. Comp Factors - Seasoned Investor, LTV, Reserves. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ seasoned investor<br>CF- reserves<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for Missing lease/100% Vacancy. Comp Factors - Seasoned Investor, LTV, Reserves. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000194 | 27174577 | XXXX | 11/07/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Approved exception at origination for No active major tradelines on credit report. Comp factor: LTV, seasoned investor | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ seasoned investor<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-05): Approved exception at origination for No active major tradelines on credit report. comp factor: LTV, seasoned investor |  |  | 11/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000194 | 27174581 | XXXX | 11/07/2022 | Credit | Credit | Credit Eligibility | Credit |  | Guideline Issue: Derogatory consumer credit outside of credit guidelines |  | Approved exception at origination for Bankruptcy (Ch 13) within 24 mos. Comp factor: LTV, seasoned investor | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ seasoned investor<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-05): Approved exception at origination for Bankruptcy (Ch 13) within 24 mos. comp factor: LTV, seasoned investor |  |  | 11/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000194 | 27174582 | XXXX | 11/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Property has been listed for sale in the past 12 months. |  | Approved exception at origination for cash out on property held < 12 mos (borrower added to entity within 12 mos) . Comp factor: LTV | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-11-05): Approved exception at origination for cashout on property held < 12 mos . comp factor: LTV |  |  | 11/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000194 | 27174583 | XXXX | 11/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Missing Hazard Insurance |  | Approved exception at origination for Policy not paid in full for 12 mos duration- on payment plan. Comp factor: seasoned investor | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-05): Approved exception at origination for Policy not paid in full for 12 mos duration- on payment plan comp factor: seasoned investor |  |  | 11/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000194 | 27174604 | XXXX | 11/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing Law & ord coverage A | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for Law & Ordinance coverage. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-16): Exception noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000195 | 27174673 | XXXX | 11/07/2022 | Credit | Credit | Credit Documentation | Missing Document |  | Missing Document: Credit Report not provided |  | Approved exception at origination for credit report aged > 60 days. Comp factor: Seasoned investor, seasoned business. | Borrower's Experience/Track Record | CF_ seasoned investor, seasoned business | SitusAMC,Originator | Reviewer Comment (2022-11-05): Approved exception at origination for credit report aged > 60 days. comp factor: Seasoned investor, seasoned business. |  |  | 11/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000197 | 27187675 | XXXX | 11/08/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | < 2 active major tradelines on credit report. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for limited major tradelines. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-16): Exception noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000197 | 27187680 | XXXX | 11/08/2022 | Credit | Credit | Credit Eligibility | Credit |  | Guideline Issue: Derogatory consumer credit outside of credit guidelines |  | Unable to determine comp factor for approved exception for multiple BK's within 7 yrs. Status is unmitigated | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br>Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for Bankruptcies. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-16): Exception mitigated on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000198 | 27185444 | XXXX | 11/08/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing Law and Ordinance coverage. Comp. Factor: Strong Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-07): Approved exception at origination for missing Law and Ordinance coverage. Comp. Factor: Strong Reserves. |  |  | 11/07/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000198 | 27185629 | XXXX | 11/08/2022 | Credit | Credit | Credit Documentation | Missing Document |  | Missing Document: Credit Report not provided |  | Credit report aged > 60 days. An approved exception is not documented | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for expired credit. Comp factor, reserves.<br>Buyer Comment (2022-11-16): Exception noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000199 | 27185638 | XXXX | 11/08/2022 | Credit | Credit | Credit Eligibility | Guideline |  | Guideline Issue: Derogatory mortgage payments outside of credit guidelines |  | Approved exception at origination for VOM- Primary in Foreclosure within 24 months and incomplete pay history (brought current). Comp. Factors: Reserves, LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- LTV<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-08): Approved exception at origination for VOM- Primary in Foreclosure within 24 months/ Incomplete 12 mos pay history. (Brought current x/xx/xx) Comp. Factors: Reserves, LTV. |  |  | 11/08/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000200 | 27191109 | XXXX | 11/10/2022 | Credit | Credit | Credit Eligibility | Credit |  | Guideline Issue: Derogatory consumer credit outside of credit guidelines |  | Approved exception at origination for tax lien and open collection. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-08): Approved exception at origination for tax lien and open collection. Comp. Factor: Seasoned Investor. |  |  | 11/08/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000200 | 27193766 | XXXX | 11/10/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Missing 1 of 5 Leases (6 unit property with owner occupying 1). | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for missing lease. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-16): Exception noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000201 | 27191706 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp. Factor: Low LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for FICO < 650. Comp. Factor: Low LTV. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000203 | 27200189 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property is ineligible. |  | Approved exception at origination for statewide exclusion override for multifamily (traditional) property type located in IL. Comp. Factor: FICO. | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-10): Approved exception at origination for statewide exclusion override for multifamily (traditional) property type located in IL. Comp. Factor: FICO. |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000203 | 27220943 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing law & ordinance coverage. | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-16): Exception waived. Updated approval received in trailing documents approving exception for Law & Ordinance coverage. Comp factor, FICO.<br>Buyer Comment (2022-11-16): Exception noted on uploaded approval |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000204 | 27195132 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp. Factors: LTV, Seasoned Investor, Reserves. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ seasoned investor<br>CF- LTV<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for FICO < 650. Comp. Factors: LTV, Seasoned Investor, Reserves. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000204 | 27195133 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | DSC is < 1.20x for traditional property with loan amount > $500k. An approved exception is not documented | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ seasoned investor<br>CF- LTV<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-22): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for DSCR < 1.20x for traditional property with loan amount > $500k. comp Factor: Seasoned investor, reserves, LTV<br>Buyer Comment (2022-11-22): Uploaded<br>Reviewer Comment (2022-11-16): Exception remains. Approval not uploaded.<br>Buyer Comment (2022-11-16): Exception noted on uploaded approval |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000204 | 27323639 | XXXX | 11/22/2022 | Credit | Credit | Credit Eligibility | Credit |  | Guideline Issue: Derogatory consumer credit outside of credit guidelines |  | Approved exception at origination for Chargeoffs/collections > $25k reflected on credit report. comp factor: LTV, Reserves, Seasoned investor | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ seasoned investor<br>CF- LTV<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for Chargeoffs/collections > $25k reflected on credit report. comp factor: LTV, Reserves, Seasoned investor |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000205 | 27194313 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for DSCR < 1.25x. Comp. Factor: Strong Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-11-10): Approved exception at origination for DSCR < 1.25x. Comp. Factor: Strong Reserves. |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000206 | 27195007 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | Approved exception at origination for LTV > 70% on Owner user mixed use purchase by First Time Investor. Comp. Factors: Reserves, FICO, Seasoned Business. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- FICO<br>CF- reserves<br>CF_ seasoned business | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for LTV > 70% on Owner user mixed use purchase by First Time Investor. Comp. Factors: Reserves, FICO, Seasoned Business. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000206 | 27195010 | XXXX | 11/10/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination incomplete VOM-primary. Comp. Factors: Reserves, FICO, Seasoned Business. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- FICO<br>CF- reserves<br>CF_ seasoned business | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination incomplete VOM-primary 12 mo pay history. Comp. Factors: Reserves, FICO, Seasoned Business. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000206 | 27195017 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: FICO | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: FICO |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000207 | 27148027 | XXXX | 11/03/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | Approved exception at origination for LTV of 75% on owner user auto service property purchase. comp factor: FICO | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-02): Approved exception at origination for LTV of 75% on owner user auto service property purchase. comp factor: FICO |  |  | 11/02/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000207 | 27148028 | XXXX | 11/03/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for DSCR < 1.0x for owner user traditional 2 property with loan > $500k. comp factor: FICO | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-02): Approved exception at origination for DSCR < 1.0x for owner user traditional 2 property with loan > $500k. comp factor: FICO |  |  | 11/02/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000208 | 27192505 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | Approved exception at origination for LTV > 70% on owner user office purchase. Comp. Factor: Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ reserves | SitusAMC,Originator | Reviewer Comment (2022-11-10): Approved exception at origination for LTV > 70% on owner user office purchase. Comp. Factor: Reserves. |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000208 | 27192506 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for DSCR < 1.0x for owner user office purchase with loan > $800k per Guidelines. Comp. Factor: Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ reserves | SitusAMC,Originator | Reviewer Comment (2022-11-10): Approved exception at origination for DSCR < 1.0x for owner user office purchase with loan > $800k per Guidelines. Comp. Factor: Reserves. |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000209 | 27198468 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for DSCR < 1.20x on subject multifamily property with loan > $800k. Comp Factors - Reserves, FICO, Seasoned Investor. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF_ FICO<br>CF_ reserves | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for DSCR < 1.20x on subject multifamily property with loan > $800k. Comp Factors - Reserves, FICO, Seasoned Investor. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000209 | 27205741 | XXXX | 11/10/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Missing lease agreements for 5 of 20 subject units (15 leases provided). | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- seasoned investor<br>CF_ FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for missing Lease Agreements. comp factors, FICO and seasoned investor.<br>Buyer Comment (2022-11-16): Exception noted on uploaded approval |  |  | 11/17/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000210 | 27198303 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for DSCR < 1.20x Guideline min for multifamily property with loan > $500k. Comp. Factors: Reserves, FICO, Seasoned Investor. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- FICO<br>CF_ seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-10): Approved exception at origination for DSCR < 1.20x Guideline min for multifamily property with loan > $500k. Comp. Factors: Reserves, FICO, Seasoned Investor. |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000210 | 27198314 | XXXX | 11/14/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Approved exception at origination for missing lease for 1 of 19 units (1 manager occupied unit). Comp. Factors: Reserves, FICO, Seasoned Investor. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- FICO<br>CF_ seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-10): Approved exception at origination for missing lease for 1 of 19 tenant occupied subject units (& 1 manager occupied unit). Comp. Factors: Reserves, FICO, Seasoned Investor. |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000210 | 27220543 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI is missing deductible amount/details for both all perils and wind/hail loss/claims. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for deductibles not on policy. Comp factors, FICO and seasoned investor.<br>Buyer Comment (2022-11-16): Exception noted on uploaded approval |  |  | 11/17/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000211 | 27188917 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | Approved exception at origination for LTV > 70% on owner user commercial condo purchase by FT investor. Comp Factor: Reserves | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for LTV > 70% on owner user commercial condo purchase by FT investor. Comp Factor: Reserves |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000211 | 27204078 | XXXX | 11/10/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Guideline Issue: Ineligible borrower |  | Approved exception at origination for First time investor with LTV > 70% on owner user commercial condo purchase. Comp Factor: Reserves | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for First time investor with LTV > 70% on owner user commercial condo purchase. Comp Factor: Reserves |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000212 | 27185604 | XXXX | 11/08/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for Missing VOR-primary; guarantor lives rent free. Comp. Factor: Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ reserves | SitusAMC,Originator | Reviewer Comment (2022-11-07): Approved exception at origination for Missing VOR-primary; guarantor lives rent free. Comp. Factor: Reserves. |  |  | 11/07/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000212 | 27185605 | XXXX | 11/08/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing law & ordinance coverage. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-07): Approved exception at origination for missing law & ordinance coverage. Comp. Factor: Seasoned Investor. |  |  | 11/07/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000212 | 27185623 | XXXX | 11/08/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Approved exception at origination for cashout on property held < 12 months. Comp. Factor: Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ reserves | SitusAMC,Originator | Reviewer Comment (2022-11-08): Approved exception at origination for cash out on property held < 12 months. Comp. Factor: Reserves. |  |  | 11/08/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000212 | 27185702 | XXXX | 11/08/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | Approved exception at origination for LTV > 75% on owner user mixed use refinance. Comp. Factor: Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ reserves | SitusAMC,Originator | Reviewer Comment (2022-11-07): Approved exception at origination for LTV > 75% on owner user mixed use refinance. Comp. Factor: Reserves. |  |  | 11/07/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000213 | 27190548 | XXXX | 11/10/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-primary; Borrower lives rent free. An approved exception is not documented. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for VOR. Comp factors, LTV and reserves.<br>Buyer Comment (2022-11-16): Exception noted on uploaded approval |  |  | 11/17/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000213 | 27201943 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing Wind/hail coverage | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for Wind/Hail coverage. Comp factor, LTV.<br>Buyer Comment (2022-11-16): Exception noted on uploaded approval |  |  | 11/17/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000214 | 27195094 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp. Factor: LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-11-10): Approved exception at origination for FICO < 650. Comp. Factor: LTV. |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000215 | 27201283 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for subject DSCR < 1.25x Guideline min requirement for investor traditional 2 property refi with loan > $500k.. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-10): Approved exception at origination for subject DSCR < 1.25x Guideline min requirement for investor traditional 2 property refi with loan > $500k.. Comp. Factor: Seasoned Investor. |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000216 | 27195116 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: FICO. | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-10): Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: FICO. |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000216 | 27219344 | XXXX | 11/14/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Guideline Issue: Ineligible borrower |  | Approved exception at origination for First Timer investor with LTV > 65% on owner user office.. Comp. Factor: Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-11-10): Approved exception at origination for First Timer investor with LTV > 65% on owner user office.. Comp. Factor: Reserves. |  |  | 11/10/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000216 | 27219484 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Unable to determine comp factor for Approved exception for estimated required cost to cure of $100,000 for subject office property previously converted to bank requiring re-conversion to office. Value reduced by cost to convert back. Status is unmitigated. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- FICO<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br>Reviewer Comment (2022-11-14): Exception waived. Updated approval received in trailing documents approving exception for cost of conversion $`100,000. Comp factors, reserves and FICO.<br>Buyer Comment (2022-11-14): Exception mitigated on uploaded approval |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000217 | 27196883 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing Law & Ordinance coverage. Comp Factor - Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for missing Law & Ordinance coverage. Comp Factor - Seasoned Investor. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000218 | 27148014 | XXXX | 11/03/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Seller Second term is < 3 years. | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for term of 2nd loan. Comp factor, FICO.<br>Buyer Comment (2022-11-16): Exception noted on uploaded approval |  |  | 11/17/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000218 | 27148016 | XXXX | 11/03/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Guideline Issue: Ineligible borrower |  | Approved exception at origination for FT investor on investor auto svc purchase at 70% LTV . comp factor FICO | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-02): Approved exception at origination for FT investor on investor auto svc purchase at 70% LTV . comp factor FICO |  |  | 11/02/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000218 | 27148019 | XXXX | 11/03/2022 | Credit | Asset | Asset Calculation / Analysis | Asset |  | Guideline Requirement: Available for Reserves discrepancy. | Calculated Available for Reserves of is less than Guideline Available for Reserves of . | FT investor with $0 reserves (Approval assets section reflects $64k verified, final settlement statement reflects 73k required to close). Strong reserves is listed as a comp factor for approved exception. | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for First Time Investor reserves. Comp factor, FICO.<br>Buyer Comment (2022-11-16): Exception noted on uploaded approval |  |  | 11/17/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000219 | 27197593 | XXXX | 11/10/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; borrower lives rent free. Comp Factor: FICO. | The representative FICO score exceeds the guideline minimum by XX points. | CF_ FICO | SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for missing VOR-primary; borrower lives rent free. Comp Factor: FICO. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000219 | 27206731 | XXXX | 11/10/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Guideline Issue: Ineligible borrower |  | Approved exception at origination for First Time Investor with LTV > 65% on owner user commercial condo. Comp Factor: FICO | The representative FICO score exceeds the guideline minimum by XX points. | CF_ FICO | SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for First Time Investor with LTV > 65% on owner user commercial condo. Comp Factor: FICO |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000219 | 27206782 | XXXX | 11/10/2022 | Credit | Asset | Asset Calculation / Analysis | Asset |  | Guideline Requirement: Available for Reserves discrepancy. | Calculated Available for Reserves of is less than Guideline Available for Reserves of . | FT investor with $0 reserves (verified funds of $110k < funds req'd to close of $115k), furthermore, reserves used as a comp factor for approved exception waivers. | The representative FICO score exceeds the guideline minimum by XX points. | CF_ FICO | SitusAMC,Originator | Reviewer Comment (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for reserves. Comp factor, FICO.<br>Buyer Comment (2022-11-16): Exception noted on uploaded approval, and exceptions mitigated with another comp factor |  |  | 11/17/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000220 | 27195146 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | Approved exception at origination for LTV > 70% on owner user commercial condo First Time Investor. Comp. Factors: Reserves, Seasoned Business. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- reserves<br>CF- seasoned business | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for LTV > 70% on owner user commercial condo purchase by First Time Investor. Comp. Factors: Reserves, Seasoned Business. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000220 | 27195148 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: Strong Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for missing Law & Ordinance coverage. Comp. Factor: Strong Reserves. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000220 | 27207596 | XXXX | 11/10/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Guideline Issue: Ineligible borrower |  | Approved exception at origination for First Time Investor with LTV > 70% on owner user commercial condo. Comp. Factors: Reserves, Seasoned Business. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- reserves<br>CF- seasoned business | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for First Time Investor with LTV > 70% on owner user commercial condo purchase. Comp. Factors: Reserves, Seasoned Business. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000220 | 27207618 | XXXX | 11/10/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOM-primary; mortgage in spouses name. An approved exception is not documented. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for VOM. Comp factor, reserves.<br>Buyer Comment (2022-11-16): Exception noted on uploaded approval |  |  | 11/17/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000221 | 27187823 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for DSCR < 1.2x for multifamily subject property. Comp Factor - Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for DSCR < 1.2x for multifamily subject property. Comp Factor - Seasoned Investor. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000221 | 27187827 | XXXX | 11/10/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR- primary; guarantor lives rent free. Comp Factor - Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for missing VOR- primary; guarantor lives rent free. Comp Factor - Seasoned Investor. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000221 | 27187860 | XXXX | 11/10/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Approved exception at origination for missing leases for 2 units (which are listed as AirBNB). Comp Factor - Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for missing leases for 2 subject units (which are listed as AirBNB). Comp Factor - Seasoned Investor. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000221 | 27187878 | XXXX | 11/10/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Approved exception at origination for < 2 active major Tradelines. Comp Factor - Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for < 2 active major Tradelines. Comp Factor - Seasoned Investor. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000221 | 27203774 | XXXX | 11/10/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Approved exception at origination for deferred maintenance. Comp Factor - Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-09): Approved exception at origination for deferred maintenance. Comp Factor - Seasoned Investor. |  |  | 11/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000285 | 27264355 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Missing evidence that listing has been canceled or expired. | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing cancelled listing agreement. comp Factor: FICO<br>Buyer Comment (2022-11-18): Exception noted on uploaded approval |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000285 | 27264491 | XXXX | 11/16/2022 | Credit | Property - Appraisal | General Appraisal Requirements | Property - Appraisal |  | Subject is a refinance and property is listed for sale. | Valuation Type: Appraisal / Valuation Report Date: XX/XX/XXXX | Cash out on property with less than 12 months value seasoning. VCC Analyst Review value used which was > recent purchase price. No approved exception documented. | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for cashout on held < 12 mos & listed within 6 mos.. comp Factor: FICO<br>Buyer Comment (2022-11-18): Exception noted on uploaded approval |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000287 | 27232238 | XXXX | 11/16/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Loan amounts less than $75,000 are not permitted according to the guidelines |  | Approved exception at origination for loan amount < $75k. Comp factor; Seasoned Investor. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-15): Approved exception at origination for loan amount < $75k. Comp factor; Seasoned Investor. |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000287 | 27232283 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Cash out on property held < 12 mos using AV > PP. An approved exception is not documented | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for cashout on property held < 12 mos. comp Factor: Seasoned investor<br>Buyer Comment (2022-11-18): Exception noted on uploaded approval |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000287 | 27323988 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Missing lease | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Lease. comp Factor: Seasoned investor |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000289 | 27235367 | XXXX | 11/16/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for VOM-primary. Comp Factor - FICO. | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for VOM-primary. Comp Factor - FICO. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000289 | 27242492 | XXXX | 11/16/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | < 2 major tradelines on credit report. | Borrower has owned the subject property for at least 5 years.<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC<br>SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for < 2 active major tradelines. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000289 | 27242518 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | Foreign investor with LTV> 65%. | Borrower has owned the subject property for at least 5 years.<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC<br>SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Foreign investor with LTV> 65%. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000290 | 27221498 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-Primary (lives rent free). An approved exception is not documented. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing VOR-Primary (lives rent free). comp Factor: seasoned investor, Seasoned Business<br>Buyer Comment (2022-11-22): Corrected Uploaded<br>Reviewer Comment (2022-11-17): Exception remains. Unable to substantiate the comp factors, reserves and pride of ownership. No reserves verified and property is tenant occupied, unable to verify who maintained property.<br>Buyer Comment (2022-11-17): Exception noted on uploaded approval |  |  | 11/26/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000290 | 27242014 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  |  | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-11-17): Exception waived. Updated approval received in trailing documents approving exception for Lease Agreement. Comp factors, seasoned investor and seasoned business.<br>Buyer Comment (2022-11-17): Exception noted on uploaded approval |  |  | 11/17/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000292 | 27229707 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI reflects loss of use and not Loss of Rents coverage (landlord coverage is not indicated). | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage. comp Factor: Seasoned investor<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000292 | 27229775 | XXXX | 11/16/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | No active major tradelines on credit report. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for < 2 active major tradelines. comp Factor: Seasoned investor<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000292 | 27248155 | XXXX | 11/16/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-primary; guarantor lives rent free. An approved exception is not documented. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary; guarantor lives rent free. comp Factor: Seasoned investor<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000292 | 27248231 | XXXX | 11/16/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Proof of Residency Status not provided |  | Guarantor DL reflects subject property address as primary residence. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Guarantor DL address matching subject property address. comp Factor: seasoned investor<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000294 | 27260350 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Rural subject property. An approved exception is not documented. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Rural subject property. comp Factor: Seasoned investor<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000295 | 27228631 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO<650. Comp factor: LTV | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-11-15): Approved exception at origination for FICO<650. Comp factor: LTV |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000295 | 27228647 | XXXX | 11/16/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Unable to substantiate use of strong reserves as sole comp factor for Approved exception for missing VOR - primary; guarantor lives rent free. Comp factor 2 is listed as Strong reserves, however approval assets section is not complete. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for issing VOR - primary; guarantor lives rent free. comp Factor: LTV<br>Buyer Comment (2022-11-21): New comp factor shown on uploaded |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000296 | 27226347 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO< 650. Comp factor; Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-15): Approved exception at origination for FICO< 650. Comp factor; Seasoned Investor. |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000296 | 27256858 | XXXX | 11/16/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Proof of Residency Status not provided |  | Missing Green card/VIsa for foreign national guarantor (an employment auth card found in file does not evidence residency status). | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing green card or passport. Comp factor, seasoned investor.<br>Buyer Comment (2022-12-21): Exception noted on uploaded approval |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000296 | 27256961 | XXXX | 11/16/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Missing required US bank stmt for foreign national. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing US Bank account. Comp factor, seasoned investor.<br>Buyer Comment (2022-12-21): Exception noted on uploaded approval |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000297 | 27235492 | XXXX | 11/16/2022 | Credit | Credit | Miscellaneous | Credit |  | Reverification of rent is inconsistent with original VOR |  | Approved exception at origination for Missing VOR-primary; borrower lives rent free. Comp factor: seasoned investor | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-16): Approved exception at origination for Missing VOR-primary; borrower lives rent free. comp factor: seasoned investor |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000298 | 27233380 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO<650. Comp factor; LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-11-15): Approved exception at origination for FICO<650. Comp factor; LTV. |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000299 | 27220842 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO below 650. Comp factor; Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-15): Approved exception at origination for FICO below 650. Comp factor; Seasoned Investor. |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000299 | 27256967 | XXXX | 11/16/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Missing required US bank stmt for foreign national. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for no US Bank account. Comp factor, seasoned investor.<br>Buyer Comment (2022-12-21): Exception noted on uploaded approval |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000299 | 27256968 | XXXX | 11/16/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Proof of Residency Status not provided |  | Missing Green card/VIsa for foreign national guarantor (an employment auth card found in file does not evidence residency status). | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing green card/visa. Comp factor, seasoned investor.<br>Buyer Comment (2022-12-21): Exception noted on uploaded approvaal |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000300 | 27260499 | XXXX | 11/16/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Verification of Down Payment Funds not provided |  | Missing proof of funds for $18k req'd to close per final settlement stmt > 10% of loan as required (Approval assets section is not complete and bank stmt in file reflects balance of $2k). | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for unverified funds to close. comp Factor: Seasoned investor<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000301 | 27262354 | XXXX | 11/16/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Missing lease on a refinance. | The representative FICO score exceeds the guideline minimum by XX points.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ FICO<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for 100% vacancy/missing lease. comp Factor: LTV, FICO<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000302 | 27236637 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp Factor - Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for FICO < 650. Comp Factor - Seasoned Investor. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000303 | 27265384 | XXXX | 11/16/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-primary; borrower lives rent free. An approved exception is not documented | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF_ FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception forMissing VOR-primary; borrower lives rent free. . comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-11-21): 11/21/2022 Exception written |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000305 | 27248718 | XXXX | 11/16/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary 12 mo pay history (pays cash). Comp factor: Seasoned investor | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-15): Approved exception at origination for missing VOR-primary 12 mo pay history (pays cash). comp factor: Seasoned investor |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000305 | 27248764 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Property has been listed for sale in the past 12 months. |  | Approved exception at origination for cashout on property listed within 6 mos. Comp factor: Seasoned investor | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-15): Approved exception at origination for cashout on property listed within 6 mos. comp factor: Seasoned investor |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000305 | 27248784 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Approved exception at origination for rural subject property. Comp factor: Seasoned investor | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-15): Approved exception at origination for rural subject property. comp factor: Seasoned investor |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000306 | 27230507 | XXXX | 11/16/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOM-primary 12 mo pay history (reverse mortgage). Comp factors: Seasoned Investor, FICO. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ seasoned investor<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-16): Approved exception at origination for missing VOM-primary 12 mo pay history (reverse mortgage). Comp factors: Seasoned Investor, FICO. |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000306 | 27263992 | XXXX | 11/16/2022 | Credit | Credit | Credit Documentation | Missing Document |  | Missing Document: Credit Report not provided |  | Approved exception at origination for credit report aged > 60 days. Comp factor: Seasoned investor | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-16): Approved exception at origination for credit report aged > 60 days. comp factor: Seasoned investor |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000307 | 27233418 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI (owners policy) reflects loss of use and not loss of rents coverage (landlord coverage not indicated). | The representative FICO score exceeds the guideline minimum by XX points. | CF_ FICO | SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage. comp Factor: FICO<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000308 | 27233361 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Unable to determine comp factor for Approved exception for FICO below 650. Unmitigated. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br>Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for FICO < 650. comp Factor: LTV<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000309 | 27237485 | XXXX | 11/16/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; both guarantors live Rent Free. Comp Factors - Reserves, LTV. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ reserves<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for missing VOR-primary; both guarantors live Rent Free. Comp Factors - Reserves, LTV. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000309 | 27237519 | XXXX | 11/16/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Approved exception at origination for No active major tradelines for both guarantors. Comp Factors: Reserves, LTV. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ reserves<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-15): Approved exception at origination for No active major tradelines for both guarantors. Comp Factors: Reserves, LTV. |  |  | 11/15/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000310 | 27265053 | XXXX | 11/16/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Guideline Issue: Ineligible borrower |  | Approved exception at origination for FT investor with LTV > 70%. Comp factor: FICO | The representative FICO score exceeds the guideline minimum by XX points. | CF_ FICO | SitusAMC,Originator | Reviewer Comment (2022-11-16): Approved exception at origination for FT investor with LTV > 70% on subject SFR purchase. comp factor: FICO |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000311 | 27252998 | XXXX | 11/16/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Comparable Rent Schedule not provided |  | 1004 appraisal is missing a comparable rent schedule/ market rent analysis | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ FICO<br>CF_ reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing comparable rent schedule comp Factor: Reserves, FICO<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000311 | 27253214 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Hurricane deductible of 5% on $596k coverage amount exceeds guideline max wind deductible of $25k | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ FICO<br>CF_ reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for wind deductible > $25k. comp Factor: Reserves, FICO<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000312 | 27265160 | XXXX | 11/16/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | < 2 active major tradelines on credit report. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ reserves | SitusAMC,Originator | Reviewer Comment (2022-11-23): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for < 2 active major tradelines comp Factor: Reserves<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000314 | 27233001 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for Liability insurance coverage < guideline min requirement of $300,000. Comp factor: FICO. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for Liability insurance coverage < guideline min requirement of $300,000. Comp factor: FICO. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000316 | 27233367 | XXXX | 11/16/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Business Purpose Letter of Intent not provided |  | Missing signec copy of Business Purpose Disclosrue. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing BP disclosure. Comp factor, seasoned investor.<br>Buyer Comment (2022-12-21): Exception noted on uploaded approval |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000316 | 27263501 | XXXX | 11/16/2022 | Credit | Credit | Credit Eligibility | Guideline |  | Guideline Issue: Derogatory mortgage payments outside of credit guidelines |  | Approved exception at origination for 1x30 within 90 days on a VCC mortgage. Comp factor: Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-16): Approved exception at origination for 1x30 within 90 days on a VCC mortgage. Comp factor: Seasoned Investor. |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000317 | 27253616 | XXXX | 11/16/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Missing Required US bank stmt for foreign investor guarantor. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | Borrower's Experience/Track Record.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing US Bank account. Comp factors, seasoned investor and LTV.<br>Buyer Comment (2022-12-21): Exception noted on uploaded approval |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000318 | 27233375 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI (owners policy) reflects loss of use and not loss of rents coverage. (landlord coverage is not indicated) | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage. comp Factor: Seasoned investor, reserves<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/26/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000320 | 27236103 | XXXX | 11/16/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp Factors: LTV. | Borrower has owned the subject property for at least 5 years.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC<br>SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for FICO < 650. Comp Factors: LTV. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000321 | 27219295 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; mortgage in spouse's name. Comp Factors - Reserves, Seasoned Business. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- reserves<br>CF- seasoned business | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for missing VOR-primary; mortgage in spouse's name. Comp Factors - Reserves, Seasoned Business. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000321 | 27239719 | XXXX | 11/14/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Guideline Issue: Ineligible borrower |  | Approved exception at origination for First Time Investor with LTV > 65% on owner user office. Comp Factors - Reserves, Seasoned Business. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- reserves<br>CF- seasoned business | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for First Time Investor with LTV > 65% on owner user office purchase Comp Factors - Reserves, Seasoned Business. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000323 | 27238434 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing required min $2MM gen agg liability coverage | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ reserves | SitusAMC,Originator | Reviewer Comment (2022-11-22): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing required $2MM gen aggregate liability coverage for subject traditional 1 property type. comp Factor: Reserves<br>Buyer Comment (2022-11-17): Prior upload was for a different loan, please disregard<br>Buyer Comment (2022-11-17): Exception noted on uploaded approval |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000323 | 27238487 | XXXX | 11/14/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Proof of Residency Status not provided |  | Missing green card/visa/passport (SS card reflects 'valid only with DHS auth'). | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ reserves<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing required Visa/Greencard. comp Factor: Reserves, FICO<br>Reviewer Comment (2022-12-20): Exception remains- Employment auth card provided does not evidence residency status,<br>Buyer Comment (2022-12-19): Uploaded Work Auth Card and I797 for extension. Exception also noted on uploaded approval for Work Auth card |  |  | 12/20/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000323 | 27323580 | XXXX | 11/22/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Guideline Issue: Ineligible borrower |  | Approved exception at origination for FT investor with LTV > 70% . Comp factor: FICO, Reserves | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ reserves<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for FT investor with LTV > 70% . comp factor: FICO, Reserves |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000323 | 27323581 | XXXX | 11/22/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Approved exception at origination for < 2 active major tradelines. Comp factor: Reserves | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ reserves | SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for < 2 active major tradelines. comp factor: Reserves |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000324 | 27224805 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for DCR. Comp Factor - FICO. | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for DCR. Comp Factor - FICO. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000324 | 27241985 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Missing leases for both subject units on subject investor retail refi with loan > $500k | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-28): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Leases. comp Factor: Seasoned investor<br>Buyer Comment (2022-11-28): Uploaded<br>Reviewer Comment (2022-11-22): exception remains- missing leases is not documented as an approved exception on uploaded approval WS<br>Buyer Comment (2022-11-17): Exception noted on uploaded approval<br>Buyer Comment (2022-11-17): This transaction is purchse transaction. Lease agreements are not required. |  |  | 11/28/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000326 | 27238599 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-primary, guarantor lives rent free. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-22): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing VOR-primary, guarantor lives rent free. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-11-17): Exception noted on uploaded approval |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000326 | 27323600 | XXXX | 11/22/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | DSCR < 1.20x for investor multifamily property with loan > $500k. an approved exception is not documented | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-22): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for DSCR < 1.20x for investor multifamily property with loan > $500k. comp Factor: Seasoned investor, FICO |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000328 | 27227394 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for VOR-primary guarantor lives rent free. Comp Factors - Seasoned Investor, FICO. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- seasoned investor<br>CF_ FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for VOR-primary guarantor lives rent free. Comp Factors - Seasoned Investor, FICO. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000328 | 27227527 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | Approved exception at origination for LTV > 70% on investor retail refinance. Comp Factors - Seasoned Investor, FICO. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- seasoned investor<br>CF_ FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for LTV > 70% on investor retail refinance. Comp Factors - Seasoned Investor, FICO. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000328 | 27241093 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Approved exception at origination for 50% vacancy/missing lease. Comp Factors - Seasoned Investor, FICO. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- seasoned investor<br>CF_ FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for 50% vacancy/missing lease. Comp Factors - Seasoned Investor, FICO. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000328 | 27241097 | XXXX | 11/14/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Approved exception at origination for $17k in deferred maint on subject. Comp Factors - Seasoned Investor, FICO. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- seasoned investor<br>CF_ FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for $17k in deferred maint on subject. Comp Factors - Seasoned Investor, FICO. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000329 | 27229716 | XXXX | 11/14/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for VOR- primary; guarantor lives rent free. Comp Factors - Reserves, Seasoned Business. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF_ reserves<br>CF_ seasoned business | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for VOR- primary; guarantor lives rent free. Comp Factors - Reserves, Seasoned Business. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000329 | 27229726 | XXXX | 11/14/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Approved exception at origination for < 2 active major tradelines. Comp Factors - Reserves, Seasoned Business. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF_ reserves<br>CF_ seasoned business | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for < 2 active major tradelines. Comp Factors - Reserves, Seasoned Business. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000329 | 27238976 | XXXX | 11/14/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Guideline Issue: Ineligible borrower |  | Approved exception at origination for First Time investor with LTV > 65% on owner user auto service propetty purchase . Comp Factors - Reserves, Seasoned Business. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF_ reserves<br>CF_ seasoned business | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-14): Approved exception at origination for First Time investor with LTV > 65% on owner user auto service propetty purchase . Comp Factors - Reserves, Seasoned Business. |  |  | 11/14/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000384 | 27283429 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO <650. Comp factor: Seasoned investor, LTV | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- seasoned investor<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-21): Approved exception at origination for FICO <650. Comp factor: Seasoned investor, LTV |  |  | 11/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000384 | 27283439 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; borrower lives rent free. Comp factor: seasoned investor & LTV. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- seasoned investor<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-21): Approved exception at origination for missing VOR-primary; borrower lives rent free. Comp factor: seasoned investor & LTV. |  |  | 11/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000385 | 27267244 | XXXX | 11/17/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO <650. Comp Factor; LTV | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ LTV | SitusAMC,Originator | Reviewer Comment (2022-11-17): Approved exception at origination for FICO <650. Comp Factor; LTV |  |  | 11/17/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000385 | 27267255 | XXXX | 11/17/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Rural subject property. An approved exception is not documented. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ LTV | SitusAMC,Originator | Reviewer Comment (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Rural subject property. comp Factor: LTV<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/26/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000385 | 27283976 | XXXX | 11/17/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI does not reflect loss of rents coverage. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ LTV | SitusAMC,Originator | Reviewer Comment (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing loss of rents coverage. comp Factor: LTV<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/26/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000387 | 27312385 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Approved exception at origination for rural subject property. comp factors: FICO, Seasoned investor | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for rural subject property. comp factors: FICO, Seasoned investor |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000388 | 27293279 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO<650 . Comp factors: LTV, reserves | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- reserves<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-21): Approved exception at origination for FICO<650 . Comp factors: LTV, reserves |  |  | 11/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000388 | 27293291 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factor: reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-21): Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factor: reserves. |  |  | 11/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000390 | 27312351 | XXXX | 11/23/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Proof of Residency Status not provided |  | Missing required Visa/green card for foreign national. An approved exception is not documented | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-05): Exception waived. Updated approval received in trailing documents approving exception for Visa/Green card. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-03): Exception corrected on uploaded approval<br>Reviewer Comment (2022-11-29): Exception remains- uploaded exception name is 'NJ trad 1 owner occ cert.' subject is located in TX<br>Buyer Comment (2022-11-28): Exception noted on uploaded approval |  |  | 12/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000391 | 27312348 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOM/VOR- Primary and VOM- subject. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-05): Exception waived. Updated approval received in trailing documents approving exception for VOM. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-03): Corrected Uploaded<br>Reviewer Comment (2022-11-29): Exception remains- an exception for < 12 mos VOR/VOM-primary is not documented. (lender response comment affirms only 10 mos history)<br>Buyer Comment (2022-11-28): Primary rated on VCC credit from 12/21-8/2022, then institutional VOM provided confirming payments through 10/2022, exception written for subject property shown on uploaded approval |  |  | 12/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000391 | 27312350 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI reflects 80% coinsurance. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for 80% coinsurance. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-11-28): Exception noted on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000391 | 27403301 | XXXX | 11/30/2022 | Credit | Guideline | Guideline Issue | Guideline |  | Loan product type is ineligible per guidelines. |  | Interest only period exceeds 5 years. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-05): Exception waived. Updated approval received in trailing documents approving exception for Interest only Term. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-03): Exception noted on uploaded approval |  |  | 12/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000393 | 27284070 | XXXX | 11/17/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Proof of Residency Status not provided |  | Guarantor DL reflect subject property address as primary residence. | Borrower's Experience/Track Record | CF- seasoned business, seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for DL address discrepancy. comp Factor: Seasoned investor, Seasoned Business<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/26/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000393 | 27284088 | XXXX | 11/17/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-primary; guarantor lives rent free. An approved exception is not documented. | Borrower's Experience/Track Record | CF- seasoned business, seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for DMissing VOR-primary; guarantor lives rent free. comp Factor: Seasoned investor, Seasoned Business<br>Buyer Comment (2022-11-21): Exception noted on uploaded approval |  |  | 11/26/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000394 | 27292928 | XXXX | 11/23/2022 | Credit | Credit | Credit Eligibility | Credit |  | Guideline Issue: Derogatory consumer credit outside of credit guidelines |  | Approved exception at origination for Bankruptcy within the last 24 months. Comp factor: reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-21): Approved exception at origination for Bankruptcy within the last 24 months. Comp factor: reserves. |  |  | 11/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000394 | 27292933 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary 12 mos pay history. Comp factor: reserves | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-21): Approved exception at origination for missing VOR-primary 12 mos pay history. Comp factor: reserves |  |  | 11/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000396 | 27283284 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Unable to substantiate use of ' Pride of ownership.' as sole comp factor for Approved exception for FICO< 650. File does not contain documentation supporting evidence for pride of ownership. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for FICO< 650. comp Factor: LTV<br>Buyer Comment (2022-11-28): Exception mitigated |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000396 | 27283322 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Cash out on 2x subject properties held < 6 mos and using AV > PP. An approved exception is not documented | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Cashout on properties held < 6 mos. comp Factor: LTV<br>Buyer Comment (2022-11-28): Exception noted on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000396 | 27312491 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for blanket liability coverage. comp Factor: LTV<br>Buyer Comment (2022-11-28): Exception noted on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000397 | 27265614 | XXXX | 11/17/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Approved exception at origination for vacancy/ missing leases on one of 2 properties . Comp factor: seasoned investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-16): Approved exception at origination for 70.8% vacancy/ missing leases on one of 2 subject properties . Comp factor: seasoned investor. |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000397 | 27275424 | XXXX | 11/17/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Property has been listed for sale in the past 12 months. |  | Approved exception at origination for cash out on 1 of 2 properties held < 12 mos . Comp factor: seasoned investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-17): Approved exception at origination for cashout on 1 of 2 subject properties which was held < 12 mos . Comp factor: seasoned investor. |  |  | 11/17/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000398 | 27270313 | XXXX | 11/30/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO<650. Comp factor, Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for FICO<650. Comp factor, Seasoned Investor. |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000398 | 27270326 | XXXX | 11/30/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Approved exception at origination for < 2 active major tradelines. Comp factor, Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for < 2 active major tradelines. Comp factor, Seasoned Investor. |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000398 | 27270388 | XXXX | 11/30/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exceptions at origination for 1) Missing VOR-primary; guarantor lives rent free and 2) missing VOM-subject 12 mos pay history. Comp factor; Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exceptions at origination for 1) Missing VOR-primary; guarantor lives rent free and 2) missing VOM-subject 12 mos pay history. Comp factor; Seasoned Investor. |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000399 | 27270965 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOM-primary; mortgage in spouses name. Comp factor: seasoned investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-21): Approved exception at origination for missing VOM-primary; mortgage in spouses name. Comp factor: seasoned investor. |  |  | 11/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000400 | 27265696 | XXXX | 11/23/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Missing required cancelled listing agreement for property listed for sale within 6 mos. | The representative FICO score exceeds the guideline minimum by XX points.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- FICO<br>CF-- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing required cancelled listing agreement. comp Factor: LTV, FICO<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval<br>Reviewer Comment (2022-11-29): Exception remains- per MCP 6.6 a cancelled listing agreement is required. ("Properties that have been recently listed (within the past 6 months) must: \* Be off the market (evidenced by expired or cancelled listing agreement))<br>Buyer Comment (2022-11-29): Uploaded Realtor.com print out showing property off market. In addition the appraiser has confirmed the listing was cancelled as of x/x/xx per MLS. This is sufficient proof of cancelled listing |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000400 | 27265722 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Cash out on property listed within 6 months. | The representative FICO score exceeds the guideline minimum by XX points.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- FICO<br>CF-- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing handwritten BP LOI. comp Factor: LTV, FICO<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval<br>Reviewer Comment (2022-11-29): Exception remains- not listed on uploaded approval.<br>Buyer Comment (2022-11-29): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000400 | 27532968 | XXXX | 12/21/2022 | Credit | Credit | Credit Documentation | Missing Document |  | Missing Document: Credit Report not provided |  | Credit report aged > 60 days | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for credit report aged > 60 days. comp Factor: Seasoned investor |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000402 | 27276929 | XXXX | 11/17/2022 | Credit | Guideline | Guideline Issue | Guideline |  | Note loan amount is less than guideline minimum. | Note loan amount of $XXXX is less than guideline minimum loan amount of $75,000. | Unable to determine comp factor for approved exception for loan < $75k; unmitigated. | The representative FICO score exceeds the guideline minimum by XX points. | CF_ FICO | SitusAMC,Originator | Reviewer Comment (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br>Reviewer Comment (2022-11-26): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Subject loan amount < $75k. comp Factor: LTV<br>Buyer Comment (2022-11-21): Exception mitigated on uploaded approval |  |  | 11/26/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000403 | 27285413 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Rural property. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ seasoned investor<br>CF_ FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Rural subject property. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-11-29): Exception noted on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000403 | 27312063 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOM-primary. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points. | CF_ FICO | SitusAMC,Originator | Reviewer Comment (2022-12-05): Exception waived. Updated approval received in trailing documents approving exception for missing VOR (lives rent free). Comp factor, FICO.<br>Buyer Comment (2022-12-03): Exception written<br>Reviewer Comment (2022-11-29): Exception remains- per LOE provided, guarantor lives rent free. an approved exception is not documented on uploaded approval. ('borrower/guarantor lives rent free' is commonly documented as an exception on other VCC approvals)<br>Buyer Comment (2022-11-29): Per LOE (with supporting documentation), there is not payment due on primary residence. Sitex in file confirms the sale and documents uploaded all support this. There is not payment to be made, therefore no payment history. This does not need an exception as no payment was to be made. |  |  | 12/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000404 | 27282102 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | unable to determine comp factor for Approved exception for FICO<650. status is 'unmitigated' | Borrower's Experience/Track Record | CF_ seasoned investor, seasoned business | SitusAMC,Originator | Reviewer Comment (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br>Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for FICO < 650. comp Factor: seasoned investor, seasoned business<br>Buyer Comment (2022-11-29): Exception mitigated on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000404 | 27312432 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Subject SFR property appears to be operated as an owner user assisted living facility. Owner Usser SFR is not a permitted property type per guidelines. an approved exception is not documented. | Borrower's Experience/Track Record | CF_ seasoned investor, seasoned business | SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Subject being owner-user SFR. comp Factor: seasoned investor, seasoned business<br>Buyer Comment (2022-11-29): Exception noted on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000405 | 27396587 | XXXX | 11/29/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Unable to determine comp factor for approved exception for "deductible'" listed on updated approval uploaded in trailing docs. Unmitigated. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br>Reviewer Comment (2022-12-05): Exception waived. Updated approval received in trailing documents approving exception for deductible. Comp factor, FICO.<br>Buyer Comment (2022-12-03): Corrected Uploaded |  |  | 12/05/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000406 | 27312412 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; guarantor lives rent free. comp factor: Seasoned investor | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for missing VOR-primary; guarantor lives rent free. comp factor: Seasoned investor |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000407 | 27293676 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | missing VOR-primary ; borrower lives rent free. an approved exception is not documented. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary comp Factor: Reserves<br>Buyer Comment (2022-11-29): Corrected assets section noted on uploaded approval.<br>Buyer Comment (2022-11-29): Exception noted on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000408 | 27264205 | XXXX | 11/17/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO< 650. Comp Factors - Seasoned Investor, LTV, Seasoned Business. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ seasoned investor, seasoned business<br>CF_ LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-16): Approved exception at origination for FICO< 650. Comp Factors - Seasoned Investor, LTV, Seasoned Business. |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000408 | 27267566 | XXXX | 11/17/2022 | Credit | Credit | Credit Eligibility | Guideline |  | Guideline Issue: Derogatory mortgage payments outside of credit guidelines |  | Approved exception at origination for for 2X30 on subject within 12 months and Primary 1X30 within 12 months. Comp Factors - Seasoned Investor, LTV, Seasoned Business. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ seasoned investor, seasoned business<br>CF_ LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-16): Approved exception at origination for for 2X30 on subject within 12 months, and Primary 1X30 within 12 months). Comp Factors - Seasoned Investor, LTV, Seasoned Business. |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000408 | 27267574 | XXXX | 11/17/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Approved exception at origination for override of statewide exclusion for subject Owner Occupied/Owner User traditional 1 (mixed use) property located in NJ. Comp Factors - Seasoned Investor, LTV. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ seasoned investor, seasoned business<br>CF_ LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-16): Approved exception at origination for override of statewide exclusion for subject Owner Occupied traditional 1 (mixed use) property located in NJ. Comp Factors - Seasoned Investor, LTV. |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000409 | 27283072 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI reflects guarantor as polocy holder/insured and not borrower entity | Borrower's Experience/Track Record | CF- seasoned business | SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Guarantor listed as policy holder. comp Factor: Seasoned Business<br>Buyer Comment (2022-11-29): Exception noted on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000412 | 27284056 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp Factors - LTV, Reserves. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- LTV<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-17): Approved exception at origination for FICO < 650. Comp Factors - LTV, Reserves. |  |  | 11/17/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000413 | 27264925 | XXXX | 11/17/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Approved exception at origination for < 2 active major tradelines. Comp Factors - Seasoned Investor, LTV. | Borrower has owned the subject property for at least 5 years.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC<br>SitusAMC,Originator | Reviewer Comment (2022-11-16): Approved exception at origination for < 2 active major tradelines. Comp Factors - Seasoned Investor, LTV. |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000413 | 27264941 | XXXX | 11/17/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; guarantor lives rent-free. Comp Factors - Seasoned Investor, LTV. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ seasoned investor<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-16): Approved exception at origination for missing VOR-primary; guarantor lives rent-free. Comp Factors - Seasoned Investor, LTV. |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000413 | 27267550 | XXXX | 11/17/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Approved exception at origination for override of statewide exclusion for subject Owner Occupied/owner user traditional 1 (mixed use) property located in NJ. Comp Factors - Seasoned Investor, LTV. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ seasoned investor<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-16): Approved exception at origination for overide of statewide exclusion for subject Owner Occupied traditional 1 (mixed use) property located in NJ. Comp Factors - Seasoned Investor, LTV. |  |  | 11/16/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000413 | 27267564 | XXXX | 11/17/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing law & ord coverage A- loss to undamaged portion of bldg. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-28): Exception cleared. Updated approval received in trailing documents approving exception for Law & Ordinance coverage. Comp factor, seasoned investor.<br>Buyer Comment (2022-11-28): Exception noted<br>Reviewer Comment (2022-11-22): Exception remains- Specified coverage A- loss to undamaged portion of bldg is not included on uploaded EOI.<br>Buyer Comment (2022-11-21): Law and Ord Coverage A is for "increased cost of construction" which is shown on uploaded policy |  |  | 11/28/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000415 | 27295225 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | unable to substantiate use of 'pride of ownership' as sole comp factor for Approved exception at origination for FICO < 650. documented evidence supporting Pride of Ownership was not found in file. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for FICO < 650. comp Factor: LTV<br>Buyer Comment (2022-11-29): Corrected mitigating factor on uploaded |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000417 | 27269277 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | missing Law and Ordinance coverage a- loss to undamaged portion of bldg. (only law & ord equip coverage is evidenced,) | The representative FICO score exceeds the guideline minimum by XX points. | CF_ FICO | SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Law & Ord coverage. comp Factor: FICO<br>Buyer Comment (2022-11-29): Exception noted on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000418 | 27328092 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | The representative FICO score exceeds the guideline minimum by XX points. | CF_ FICO | SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for Coinsurance and blanket liability coverage. comp Factor: FICO<br>Buyer Comment (2022-11-29): Exception noted on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000420 | 27323961 | XXXX | 11/23/2022 | Credit | Loan Package Documentation | Loan File | Missing Document |  | Missing Document: Hazard Insurance Policy not provided |  | 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for coinsurance and blanket liability coverage. comp Factor: FICO<br>Buyer Comment (2022-11-29): Exception noted on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000421 | 27314370 | XXXX | 11/28/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO<650. Comp factor; LTV. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-11-26): Approved exception at origination for FICO<650. Comp factor; LTV. |  |  | 11/26/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | D B | D |  |  | No |
| XXXX | XXXX |  | 1000421 | 27334382 | XXXX | 11/28/2022 | Property | Property - Appraisal | Appraisal Documentation | Property - Appraisal |  | Loan is to be securitized. Appraisal is missing. | Address: XXXX | Missing appraisal on 1 of 3 properties (Interior BPO provided). An approved exception not documented. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception to use interior BPO for value. Comp factor, LTV. Per client, "given the low LTV we accepted an interior BPO on this property. This was a borrower accommodation approved by senior management in order to close the loan faster. The other two properties that secure this loan had full appraisals completed." The secondary valuation (desk review) support the value used.<br>Buyer Comment (2022-12-21): Exception written for interior BPO |  |  | 12/22/2022 | 3 D | XX/XX/XXXX | Refinance - Rate/Term | D B | D |  |  | No |
| XXXX | XXXX |  | 1000421 | 27334383 | XXXX | 11/28/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Comparable Rent Schedule not provided |  | Missing market rent analysis for 1 of 3 properties (Interior BPO did not include market rents). | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing Comparable rent schedule. Comp factor, LTV.<br>Buyer Comment (2022-12-21): Exception noted on uploaded approval |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | D B | D |  |  | No |
| XXXX | XXXX |  | 1000421 | 27334384 | XXXX | 11/28/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | 1) Missing leases for 1 of 3 subject properties (missing for xxxxx). An approved exception is not documented. 2) Missing leases for 2 of 4 units (xxxxxx). | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing Lease. Comp factor, LTV.<br>Buyer Comment (2022-12-21): Exception noted on uploaded approval |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | D B | D |  |  | No |
| XXXX | XXXX |  | 1000421 | 27334386 | XXXX | 11/28/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) Blanket liability policy without required endorsement for full coverage amount for each covered location (xxxxxx property not listed as covered property), 2) hurricane deductible of $27.9K on 1 of 3 subject properties exceeds guideline max wind deductible, 3) $559K for xxxxxxxment cost and replacement cost estimator not provided. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for Blanket liability and Wind deductible. Comp factor, LTV. Item #3 listed in separate exception.<br>Buyer Comment (2022-12-21): 1. Exception noted on uploaded approval. 2. Exception noted on uploaded approval. 3. Pending RCE 4. Pending RCE |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | D B | D |  |  | No |
| XXXX | XXXX |  | 1000421 | 27334387 | XXXX | 11/28/2022 | Credit | Loan Package Documentation | Loan File | Missing Document |  | Missing Document: Hazard Insurance Policy not provided |  | Missing EOI for liability coverage for 1 of 3 properties (missing for xxxxxx). | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing liability coverage. Comp factor, LTV.<br>Buyer Comment (2022-12-21): Exception noted on uploaded approval |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | D B | D |  |  | No |
| XXXX | XXXX |  | 1000421 | 27540997 | XXXX | 12/22/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Insufficient coverage on 2 of 3 properties. Insurance is less than loan amount and costs new per appraisal (if provided). Replacement costs estimate not provided. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-12-23): Exceptoin waived. Updated approval received in trailing documents approving exception for insurance coverage. Comp factor, low LTV.<br>Buyer Comment (2022-12-23): Exception noted on uploaded approval. Mitigated by the borrower being a seasoned investor and low ltv |  |  | 12/23/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | D B | D |  |  | No |
| XXXX | XXXX |  | 1000422 | 27307661 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Approved exception at origination for missing lease/ 100% vacancy. Comp factor: LTV, seasoned investor | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record | CF- LTV<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for missing lease/ 100% vacancy. Comp factor: LTV, seasoned investor |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000422 | 27323705 | XXXX | 11/23/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Approved exception at origination for < 2 active major tradelines.. Comp factor: LTV, seasoned investor | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record | CF- LTV<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for < 2 active major tradelines.. Comp factor: LTV, seasoned investor |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000422 | 27323707 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI reflects 100% coinsurance, | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Coinsurance. comp Factor: LTV<br>Buyer Comment (2022-11-29): Exception noted on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000423 | 27323953 | XXXX | 11/23/2022 | Credit | Loan Package Documentation | Loan File | Missing Document |  | Missing Document: Hazard Insurance Policy not provided |  | Missing subject condo master policy. | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing condo master policy. comp Factor: FICO<br>Buyer Comment (2022-11-29): Exception noted on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000426 | 27307227 | XXXX | 11/28/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Unable to substantiate use of "Pride of ownership" as sole comp factor for Approved exception for incomplete VOR-primary. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for incomplete VOR-primary; < 12 mos pay history provided. comp Factor: Seasoned investor<br>Buyer Comment (2022-11-29): comp factor updated on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000426 | 27307283 | XXXX | 11/28/2022 | Credit | Property - Appraisal | General Appraisal Requirements | Property - Appraisal |  | Subject is a refinance and property is listed for sale. | Valuation Type: Appraisal / Valuation Report Date: XX/XX/XXXX | Missing required cancelled listing agreement for property recently listed within 6 months. An approved exception is not documented. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing required cancelled listing agreement. comp Factor: Seasoned investor<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval<br>Reviewer Comment (2022-11-29): Exception remains- per MCP 6.6 a cancelled listing agreement is required. ("Properties that have been recently listed (within the past 6 months) must: \* Be off the market (evidenced by expired or cancelled listing agreement))<br>Buyer Comment (2022-11-29): Please see uploaded screenshot of realtor.com showing dated as of xx/xx/xx showing property off market. this is supported by the appraisal whch states the listing was withdrawn x/xx/xx per MLS |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000426 | 27307286 | XXXX | 11/28/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Cash out on property listed within 6 mos with LTV > 70%. An approved exception is not documented. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for cashout on property held < 6 mos. comp Factor: Seasoned investor<br>Buyer Comment (2022-11-29): Exception noted on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000426 | 27334378 | XXXX | 11/28/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOM-subject. An approved exception is not documented. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOM-subject. comp Factor: Seasoned investor<br>Buyer Comment (2022-11-29): Exception noted on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000427 | 27305953 | XXXX | 11/28/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Cash out on property held < 12 months using appraisal value > original purchase price. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- FICO<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for cashout on recent acquisition. comp Factor: LTV, FICO<br>Buyer Comment (2022-11-29): Exception noted on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000427 | 27328992 | XXXX | 11/28/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-primary; guarantor lives rent free. An approved exception is not documented | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF_ Seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary; guarantor lives rent free. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-11-29): Exception noted on uploaded approval |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000427 | 27396662 | XXXX | 11/29/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Subject is 100% vacant per analyst review. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- FICO<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-29): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for 100% vacancy/missing lease. comp Factor: LTV, FICO |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000428 | 27306818 | XXXX | 11/28/2022 | Credit | Property - Appraisal | General Appraisal Requirements | Property - Appraisal |  | Subject is a refinance and property is listed for sale. | Valuation Type: Appraisal / Valuation Report Date: XX/XX/XXXX | Missing required cancelled listing agreement for subject property that is currently listed for sale per appraisal. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for missing canceled listing. Comp factors, seasoned investor, seasoned business, and FICO.<br>Buyer Comment (2022-12-01): Exception noted on uploaded approval |  |  | 12/01/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000428 | 27306820 | XXXX | 11/28/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Cash out on property that is currently listed for sale with LTV > 70%. An approved exception is not documented | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for cash out on property listed and LTV > 70%. Comp factors, seasoned investor, seasoned business, and FICO.<br>Buyer Comment (2022-12-01): Exception noted on uploaded approval |  |  | 12/01/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000429 | 27334376 | XXXX | 11/28/2022 | Credit | Loan Package Documentation | Loan File | Missing Document |  | Missing Document: Hazard Insurance Policy not provided |  | Missing subject Condo master policy. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for missing HOA Policy. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-01): Exception noted on uploaded approval |  |  | 12/01/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000431 | 27315152 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp factor; Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-27): Approved exception at origination for FICO < 650. Comp factor; Seasoned Investor. |  |  | 11/27/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000431 | 27315243 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factor; seasoned investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-27): Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factor; seasoned investor. |  |  | 11/27/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000431 | 27328404 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Approved exception at origination for deferred maint > $20k. Comp factor: seasoned investor | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-27): Approved exception at origination for deferred maint > $20k. comp factor: seasoned investor |  |  | 11/27/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000431 | 27328429 | XXXX | 11/23/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | No active major tradelines on credit report. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for tradelines. Comp factor, LTV.<br>Buyer Comment (2022-12-01): Exception noted on uploaded approval |  |  | 12/01/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000432 | 27328574 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-primary (lease in parents name). | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for missing VOR. Comp factor, reserves.<br>Buyer Comment (2022-12-01): Exception noted on uploaded approval |  |  | 12/01/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000432 | 27328599 | XXXX | 11/23/2022 | Credit | Credit | Credit Eligibility | Credit |  | Guideline Issue: Derogatory consumer credit outside of credit guidelines |  | Approved exception at origination for chargeoffs > $25k. comp factor: reserves | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-23): Approved exception at origination for chargeoffs > $25k. comp factor: reserves |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000432 | 27328603 | XXXX | 11/23/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Approved exception at origination for < 2 active major tradelines. comp factor: reserves | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-23): Approved exception at origination for < 2 active major tradelines. comp factor: reserves |  |  | 11/23/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000432 | 27328848 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Owner-user SFR, an ineligible property type. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- reserves<br>Seasoned business. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-01): Exception waived. Updated approval received in trailing documents approving occupancy type. Comp factors, seasoned business and reserves.<br>Buyer Comment (2022-12-01): Exception noted on uploaded approval |  |  | 12/01/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000432 | 27328895 | XXXX | 11/23/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | 2 Mortgage term less than 3 years. An approved exception is not documented. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-12-01): Exception waived. Updated approval received in trailing documents approving the Second Mortgage term. Comp factor, reserves.<br>Buyer Comment (2022-12-01): Exception noted on uploaded approval |  |  | 12/01/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000433 | 27334377 | XXXX | 11/28/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | < 12 months VOR-primary provided. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for VOR < 12 months. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-01): Exception noted on uploaded approval |  |  | 12/01/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000434 | 27323787 | XXXX | 11/23/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Proof of Residency Status not provided |  | Unable to determine comp factor for Approved exception for expired Work auth card. Unmitigated. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br>Reviewer Comment (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for Work Authorization expired. Comp factor, FICO.<br>Buyer Comment (2022-12-01): Exception noted on uploaded approval |  |  | 12/01/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000434 | 27323788 | XXXX | 11/23/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Proof of Residency Status not provided |  | Missing Passport and Visa/Greencard for foreign national. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for missing passport and Visa/Green card. Comp factor, FICO.<br>Buyer Comment (2022-12-01): Exception noted on uploaded aprpoval |  |  | 12/01/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000435 | 27316753 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI reflects loss of use and not loss of rents coverage (landlord policy type is not indicated). | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | Borrower's Experience/Track Record.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for Loss of Use coverage. Comp factors, LTV and seasoned investor.<br>Buyer Comment (2022-12-01): Exception noted on uploaded approval |  |  | 12/01/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000437 | 27323753 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for Blank Policy without endorsement. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-01): Exception noted on uploaded approval |  |  | 12/01/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000437 | 27399588 | XXXX | 11/30/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Interest only period exceeds 5 years. An approved exception is not documented. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-12-01): Exceptoin waived. Updated approval received in trailing documents approving exception for 10 year interest only. Comp factor, seasoned investor.<br>Buyer Comment (2022-12-01): Exception noted on uploaded approval |  |  | 12/01/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000439 | 27311748 | XXXX | 11/23/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Unable to determine comp. factor for approved exception at origination for missing lease/50% vacancy. Unmitigated. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br>Reviewer Comment (2022-12-01): Exception waived. Updated approval received in trailing documents approving exception for 50% Vacancy. Comp factor, seasoned investor.<br>Buyer Comment (2022-12-01): Exception mitigated on uploaded approval |  |  | 12/01/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000439 | 27410902 | XXXX | 12/01/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing Law and Ordinance coverage. Comp factor, seasoned investor. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-12-01): Approved exception at origination for missing Law and Ordinance coverage. Comp factor, seasoned investor. |  |  | 12/01/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000440 | 27306379 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-primary; Borrower lives rent free. An approved exception is not documented. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- seasoned investor<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception cleared. Updated approval received in trailing documents approving exception for missing VOR. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-05): Exception noted on uploaded approval |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000440 | 27306700 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property is ineligible. |  | Approved exception at origination for override of statewide exclusion for traditional 1 property type located in IL . Comp. Factors: Seasoned Investor, FICO. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- seasoned investor<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for override of statewide exclusion for traditional 1 property type located in IL . Comp. Factors: Seasoned Investor, FICO. |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000441 | 27313647 | XXXX | 11/23/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Approved exception at origination for missing lease/ 50% vacancy. Comp. Factors: FICO, Reserves, Seasoned Investor. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- FICO<br>CF- reserves<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for missing lease/ 50% vacancy. Comp. Factors: FICO, Reserves, Seasoned Investor. |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000441 | 27315788 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing Law & Ordinance coverage A | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived. Updated approval received in trailing documents approving exception for Law and Ordinance coverage. Comp factor, FICO.<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000441 | 27323310 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Property has been listed for sale in the past 12 months. |  | Approved exception at origination for cashout on property held < 6 mos and using AV > PP. Comp. Factors: FICO, Reserves, Seasoned Investor. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- FICO<br>CF- reserves<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for cashout on property held < 6 mos and using AV > PP. Comp. Factors: FICO, Reserves, Seasoned Investor. |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000442 | 27312152 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp. Factors: FICO, LTV, Reserves. | The representative FICO score exceeds the guideline minimum by XX points.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- FICO<br>CF- LTV<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp. Factors: FICO, LTV, Reserves. |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000442 | 27312155 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI reflects missing Liability coverage type and /occurrence and gen aggregate liability coverage details | The representative FICO score exceeds the guideline minimum by XX points.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- FICO<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-06): Excepton waived. Updated approval received in trailing documents approving exception for missing Liability coverage each occurance. Comp factors, LTV and FICO.<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000442 | 27312159 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | DSCR is < 1.25x per Guidelines for investor Traditional II subject property with loan amount of $500k | The representative FICO score exceeds the guideline minimum by XX points.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- FICO<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for DSCR of < 1.25x. comp Factor: FICO, LTV<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval<br>Reviewer Comment (2022-12-06): Exception remains. Policy exception on approval uploaded for DCR is unmitigated with no comp factors.<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/20/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000442 | 27312161 | XXXX | 11/23/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Underwritten vacancy of 3% per Analyst review is < guideline min vacancy assumption of 5%. | The representative FICO score exceeds the guideline minimum by XX points.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- FICO<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived. Updated approval received in trailing documents approving exception for vacancy ratio used in underwriting. Comp factors, LTV and FICO.<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000443 | 27306798 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-primary; guarantor lives rent free. an approved exception is not documented | The representative FICO score exceeds the guideline minimum by XX points.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- FICO<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived. Updated approval received in trailing documents approving exception for Missing VOR. Comp factors, LTV and FICO.<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000443 | 27307058 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Approved exception at origination for cashout on property held < 6 months using an AV > original PP. Comp. Factors: Seasoned Investor, FICO. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ seasoned investor.<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for cashout on property held < 6 months using an AV > original PP. Comp. Factors: Seasoned Investor, FICO. |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000443 | 27323075 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | DSCR < 1.20x guideline min for traditional 1 with loan amount of $500k. An approved exception is not documented. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ seasoned investor.<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived. Updated approval received in trailing documents approving exception for DCR < 1.2. Comp factors, Seasoned investor and FICO.<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000444 | 27323541 | XXXX | 11/23/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | < 2 active major tradelines on credit report. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The representative FICO score exceeds the guideline minimum by XX points. | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived. Updated approval received in trailing documents approving exception for tradelines. Comp factors, LTV and FICO.<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000444 | 27323545 | XXXX | 11/23/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Missing 1) required US bank acct for foreign national borrower (only a 1031 exchange stmt found in file) 2) third party evidence for proof of primary for foreign investor borrower. (LOE in file from borrower references residence in home country with no third party documentation of this address, however application & greencard in file reflects that borrower is perm resident alien and no VOM/VOR was provided for US address.) 3) proof of Minimum 1 investment in S required per MCP 5.6 | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-12-23): Exception waived. Updated approval received in trailing documents approving exception for no US investment. Comp factor, LTV. Item #1 and 2 cleared.<br>Buyer Comment (2022-12-21): Per LOE in file, borrower resides out of the country. An exception has been granted for no US Investment.<br>Reviewer Comment (2022-12-06): Exception remains. Bank statement received all other items still remain.<br>Buyer Comment (2022-12-06): US bank statement uploaded. The remaining exception is pending further clarification |  |  | 12/23/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000444 | 27323560 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 5% wind hail deductible on $1.18MM coverage amount exceeds guideline max wind deductible of $25k | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived. Updated approval received in trailing documents approving exception for Wind/Hail deductible.. Comp factor, LTV.<br>Buyer Comment (2022-12-06): Exception noted on uploaded |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000445 | 27312080 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 600. Comp. Factors: LTV, Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for FICO < 600. Comp. Factors: LTV, Seasoned Investor. |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000445 | 27312082 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOM-subject 12 month payment history. Comp. Factors: LTV, Seasoned Investor. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- seasoned investor<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for missing VOM-subject 12 month payment history. Comp. Factors: LTV, Seasoned Investor. |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000445 | 27312085 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for missing law & ordinance coverage A. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for missing law & ordinance coverage A. Comp. Factor: Seasoned Investor. |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000446 | 27310296 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650 for 1 of 2 guarantors. Comp. Factor: Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-12-05): Approved exception at origination for FICO < 650 for 1 of 2 guarantors. Comp. Factor: Reserves. |  |  | 12/05/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000446 | 27310314 | XXXX | 11/23/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Business Purpose Letter of Intent not provided |  | Missing BP Disclosure for 1 of 2 Guarantors. | Borrower's Experience/Track Record | CF_ Seasoned business | SitusAMC,Originator | Reviewer Comment (2022-12-23): Excepiton waived. Updated approval received in trailing documents approving excepiton for missing BP disclosure. Comp factor, seasoned investor.<br>Buyer Comment (2022-12-21): Exception noted on uploaded approval |  |  | 12/23/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000446 | 27310358 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing loss of rents/Business income coverage. | Borrower's Experience/Track Record | CF_ Seasoned business | SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived- due to receipt of updated loan approval worksheet with approved exception for missing required loss of rents coverage. comp factor: Seasoned Business<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000446 | 27310415 | XXXX | 11/23/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Unable to determine comp. factors for approved exception at origination for override of statewide exclusion for subject Owner-occ Trad 1 property located in NJ. Unmitigated. | Borrower's Experience/Track Record | CF_ Seasoned business | SitusAMC,Originator | Reviewer Comment (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br>Reviewer Comment (2022-12-06): Exception waived- due to receipt of updated loan approval worksheet with approved exception for state exclusion override for subject Owner occ Trad 1 property located in NJ. comp factor: Seasoned Business<br>Buyer Comment (2022-12-06): Exception corrected on uploaded |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000446 | 27317669 | XXXX | 11/23/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Proof of Residency Status not provided |  | Missing Passport & Visa/Greencard for both foreign national guarantors (SS card reflects "valid only with DHS Auth"' and Employment Auth Cards in file for both guarantors do not constitute evidence of immigration status). | Borrower's Experience/Track Record | CF_ Seasoned business | SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived- due to receipt of updated loan approval worksheet with approved exception for missing required passports & Visa/Greencard for both foreign investor guarantors. comp factor: Seasoned Business<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000446 | 27317688 | XXXX | 11/23/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Guideline Issue: Ineligible borrower |  | Borrower is FT investor and foreign national. Proof of minimum 1 investment in US is required. | Borrower's Experience/Track Record | CF_ Seasoned business | SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived- due to receipt of updated loan approval worksheet with approved exception for missing required proof of 1 additional investment in US. comp factor: Seasoned Business<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000446 | 27317785 | XXXX | 11/23/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Incomplete VOR-primary for 1 of 2 guarantors; paid cash. An approved exception is not documented. | Borrower's Experience/Track Record | CF_ Seasoned business | SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived- due to receipt of updated loan approval worksheet with approved exception for missing VOR-primary; cash payments. comp factor: Seasoned Business<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval for Bertha |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000446 | 27318057 | XXXX | 11/23/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | Approved exception at origination for LTV > 70% & CLTV > 80% for First time investor. Comp. Factor: Reserves. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-22): Approved exception at origination for LTV > 70% & CLTV > 80% for First time investor. Comp. Factor: Reserves. |  |  | 11/22/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000446 | 27318232 | XXXX | 11/23/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Missing US bank acct for 1 of 2 guarantors or the borrower entity (bank acct in file is owned by 1 of 2 guarantors with a sole proprietor status DBA) | Borrower's Experience/Track Record | CF_ Seasoned business | SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived- due to receipt of updated loan approval worksheet with approved exception for missing required US bank acct. comp factor: Seasoned Business<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval for Salomon |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000446 | 27318363 | XXXX | 11/23/2022 | Credit | Borrower and Mortgage Eligibility | Mortgage / Program Eligibility | Borrower and Mortgage Eligibility |  | Subordinate financing not permitted |  | Second mortgage term < 3 yrs. | Borrower's Experience/Track Record | CF_ Seasoned business | SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived- due to receipt of updated loan approval worksheet with approved exception for 2nd mtg term < 3 yrs. comp factor: Seasoned Business<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000447 | 27450061 | XXXX | 12/06/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Missing lease | The representative FICO score exceeds the guideline minimum by XX points. | CF_ FICO | SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Lease. comp Factor: FICO |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000448 | 27399580 | XXXX | 12/02/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Interest only term exceeds five years. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF_ FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for int only period > 5 yrs. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000448 | 27399624 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF_ FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for coinsurance & blanket liability coverage. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000449 | 27395106 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing Loss of Rent Coverage. Policy reflects loss of use coverage and Owner Occupied. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-12-23): Exception waived. Updated approval received in trailing documents approving exception for loss of use coverage. Comp factor, FICO.<br>Buyer Comment (2022-12-21): Exception noted for Loss of use, pending corrected policy regarding occupancy |  |  | 12/23/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000450 | 27400433 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF_ FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for coinsurance and blanket liability policy. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000450 | 27409358 | XXXX | 12/02/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Interest only term exceeds five years. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF_ FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for int only period > 5 yrs. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000451 | 27400836 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF_ FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-06): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for coinsurance and blanket liability policy. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000451 | 27410395 | XXXX | 12/02/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Interest only term exceeds five years. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF_ FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-07): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for int only period > 5 yrs. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-12-06): Exception noted on uploaded approval |  |  | 12/07/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000452 | 27394573 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp factors; LTV, Seasoned Investor. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- seasoned investor<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-30): Approved exception at origination for FICO < 650. Comp factors; LTV, Seasoned Investor. |  |  | 11/30/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000453 | 27399817 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-07): Exception waived. Updated approval received in trailing documents approving exception for Co-insurance/Blanket Policy without endorsement. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-07): Exceptions noted on uploaded approval |  |  | 12/07/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000453 | 27410436 | XXXX | 12/02/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Interest only term exceeds five years. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-07): Exception waived. Updated approval received in trailing documents approving exception for interest only term. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-07): Exception noted on uploaded approval |  |  | 12/07/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000455 | 27406317 | XXXX | 12/05/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO <650. Comp factors: Seasoned investor, LTV | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | Borrower's Experience/Track Record.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-02): Approved exception at origination for FICO<,650. Comp factors: 1) Seasoned investor, 2) LTV. |  |  | 12/02/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000455 | 27406337 | XXXX | 12/05/2022 | Credit | Credit | Credit Eligibility | Credit |  | Guideline Issue: Derogatory consumer credit outside of credit guidelines |  | Approved exception at origination for >$25k in aggregate charge offs& tax liens. Comp factors: seasoned investor, LTV | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | Borrower's Experience/Track Record.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-02): Approved exception at origination for Tax lien $XXXX and >$25k in charge offs. Comp factors: 1) seasoned investor 2) LTV. |  |  | 12/02/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000457 | 27394269 | XXXX | 12/02/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; guarantor lives Rent Free. Comp factor; seasoned investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-30): Approved exception at origination for missing VOR-primary; guarantor lives Rent Free. Comp factor; seasoned investor. |  |  | 11/30/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000458 | 27409295 | XXXX | 12/05/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Missing Lease Agreement/Vacant. An approved exception is not documented. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Lease. comp Factor: Seasoned investor<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000458 | 27409471 | XXXX | 12/05/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Cash out with less than 12 value seasoning based on Appraised value > purchase price. An approved exception is not documented. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for cashout on property held < 12 mos. comp Factor: Seasoned investor<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000458 | 27534730 | XXXX | 12/21/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Unable to substantiate use of Pride of ownership as sole comp factor for approved exception for missing VOR. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing VOR. Comp factor, seasoned investor.<br>Buyer Comment (2022-12-21): Exception mitigated on uploaded approval |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000459 | 27410765 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Property has been listed for sale in the past 12 months. |  | Missing required cancelled listing agreement for subject property listed within 12 mos. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-12-07): Exception waived. Updated approval received in trailing documents approving exception for missing listing canceled agreement. Comp factor, LTV.<br>Buyer Comment (2022-12-07): Exception noted on uploaded approval |  |  | 12/07/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000459 | 27410766 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Cashout on property listed within 6 mos using AV of $1.8MM > list price of $1.68MM | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-12-07): Exception waived. Updated approval received in trailing documents approving exception for cash out on property recently listed. Comp factor, LTV.<br>Buyer Comment (2022-12-07): Exception noted on uploaded approval |  |  | 12/07/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000459 | 27410823 | XXXX | 12/02/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Unable to determine comp factor for approved exception for 100% vacancy/missing lease on a refinance. Unmitigated. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator | Reviewer Comment (2022-12-28): The exception, orignally unmitigated, was waived and is now mitigated by a compensating factor.<br>Reviewer Comment (2022-12-07): Exception waived. Updated approval received in trailing documents approving exception for 100% vacancy. Comp factor, LTV.<br>Buyer Comment (2022-12-07): Exception corrected on uploaded approval |  |  | 12/07/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000460 | 27403439 | XXXX | 12/02/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Interest only term exceeds five years. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-07): Exception waived. Updated approval received in trailing documents approving exception for interest only term. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-07): Exception noted on uploaded approval |  |  | 12/07/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000462 | 27403490 | XXXX | 12/02/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Proof of Residency Status not provided |  | Guarantor DL reflects subject property address as primary residence with no LOE addressing this issue provided. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-07): Exception waived. Updated approval received in trailing documents approving exception for address on DL. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-07): Exception noted on uploaded approval |  |  | 12/07/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000465 | 27407074 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI reflects 80% coinsurance on dwelling coverage. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-12-09): Exception waived. Updated approval received in trailing documents approving exception for co-insurance. Comp factor, seasoned investor.<br>Buyer Comment (2022-12-09): Exception noted on uploaded approval |  |  | 12/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000465 | 27410851 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Property has been listed for sale in the past 12 months. |  | Cash out on property held < 12 months. An approved exception is not documented. | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-12-09): Exception waived. Updated approval received in trailing docuemnts approving exception for cash out on recently listed property. Comp factor, seasoned investor.<br>Buyer Comment (2022-12-09): Exception noted on uploaded approval |  |  | 12/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000466 | 27406238 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp factor; Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-02): Approved exception at origination for FICO < 650. Comp factor; Seasoned Investor. |  |  | 12/02/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000467 | 27410938 | XXXX | 12/06/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factor; Seasoned investor, reserves | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-02): Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factor; Seasoned investor, reserves |  |  | 12/02/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000467 | 27431624 | XXXX | 12/06/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Approved exception at origination for missing lease/100% vacancy. Comp factor; Seasoned investor, reserves | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF_ seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-02): Approved exception at origination for missing lease/ 100% vacancy per analyst review. Comp factor; Seasoned investor, reserves |  |  | 12/02/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000468 | 27400788 | XXXX | 12/02/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Approved exception at origination for missing Lease/100% vacancy on refinance. Comp factor: Seasoned investor | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-30): approved exception at origination for missing Lease/ 100% vacancy on subject SFR refinance. comp factor: Seasoned investor |  |  | 11/30/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000468 | 27400845 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Property has been listed for sale in the past 12 months. |  | Cash out on property held < 6 mos using AV > PP. An approved exception is not documented. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-09): Exception waived. Updated approval received in trailing documents approving cash out based on appraised value (recent renovation). Comp factor, seasoned investor.<br>Buyer Comment (2022-12-09): Exception noted on uploaded approval |  |  | 12/09/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000470 | 27401104 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-09): Exception waived. Updated approval received in trailing documents approving exception for co-insurance and missing endorsement. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-09): Exception noted on uploaded approval |  |  | 12/09/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000470 | 27410486 | XXXX | 12/02/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Interest only term exceeds five years. An approved exception is not documented. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-09): Esception waived. Updated approval received in trailing documents approving exception for interest only term. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-09): Exception noted on uploaded approval |  |  | 12/09/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000476 | 27403188 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Ineligible property |  | Approved exception at origination for Rural subject property. Comp factors: FICO, seasoned investor, reserves. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- FICO<br>CF_ seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-30): Approved exception at origination for Rural subject property. Comp factors: FICO, seasoned investor, reserves. |  |  | 11/30/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000476 | 27403296 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Policy has the Guarantor as the insured and not the borrower. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- FICO<br>CF_ seasoned investor<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for guarantor as policy holder. comp Factor: Seasoned investor, FICO, reserves<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000477 | 27395526 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing liability coverage. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for liability coverage. Comp factor, reserves.<br>Buyer Comment (2022-12-21): Exception noted on uploaded approval |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000477 | 27397612 | XXXX | 12/02/2022 | Credit | Borrower and Mortgage Eligibility | Mortgage / Program Eligibility | Borrower and Mortgage Eligibility |  | Missing Document: Note - Subordinate Lien not provided |  | Missing 2nd mortgage note | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for non-recorded seller second. Comp factor, reserves.<br>Buyer Comment (2022-12-21): Uplaoded seller financing addendum for seller 2nd. There is note or DOT being recorded. An exception has been written on uploaded approval |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000478 | 27401106 | XXXX | 12/02/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factor: Seasoned investor | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-30): Approved exception at origination for missing VOR-primary; guarantor lives rent free. comp factor: Seasoned investor |  |  | 11/30/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000479 | 27401279 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ seasoned investor<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for policy containing coinsurance and blanket liability policy without required endorsement. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000479 | 27410563 | XXXX | 12/02/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Interest only term exceeds five years. An approved exception is not documented. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ seasoned investor<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for interest only period > 5 yrs. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000480 | 27398093 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for coinsurance and blanket policy. Comp factor, FICO.<br>Buyer Comment (2022-12-21): Corrected Uploaded<br>Reviewer Comment (2022-12-21): Exception remains- status is unmitigated<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000480 | 27399860 | XXXX | 12/02/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Interest only term exceeds five year. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for interest only term. Comp factor, FICO.<br>Buyer Comment (2022-12-21): Corrected Uploaded<br>Reviewer Comment (2022-12-21): Exception remains- status is unmitigated<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000481 | 27396668 | XXXX | 12/02/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Missing lease for 1 of 2 units (listed as AirBNB with receipts for 1 months rent on 2nd unit). An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing lease. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000482 | 27412122 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI (owner's policy) reflects loss of use and not Loss of Rents coverage with no evidence of landlord/rental coverage | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Loss of rents coverage. comp Factor: LTV<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000483 | 27401450 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | FICO < 650 without an approved exception documented. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for FICO < 650. comp Factor: seasoned investor<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000483 | 27431638 | XXXX | 12/02/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | < 2 active major tradelines on credit report | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for insufficient tradelines. comp Factor: seasoned investor<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000484 | 27396419 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI (owners policy) 1) is missing Liability coverage. 2) reflects guarantor as policyholder and not borrower entity. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- Seasoned investor<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for missing liability coverage and policy holder listed as guarantor. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000485 | 27403425 | XXXX | 12/02/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  |  | The representative FICO score exceeds the guideline minimum by XX points. | CF- FICO | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing Lease. comp Factor: FICO<br>Buyer Comment (2022-12-19): Lease exception mitigated |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000486 | 27401998 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF- seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for policy containing coinsurance and blanket liability policy without required endorsement. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000486 | 27410559 | XXXX | 12/02/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Interest only term exceeds five years. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points.<br>Borrower's Experience/Track Record | CF- FICO<br>CF- seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for interest only period > 5 yrs. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000487 | 27410835 | XXXX | 12/06/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO<650. Comp factor: LTV, reserves | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- LTV<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-02): Approved exception at origination for FICO<650. Comp factor: LTV, reserves |  |  | 12/02/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000487 | 27410840 | XXXX | 12/06/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for Incomplete VOM- primary.. Comp factor: LTV , reserves | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- LTV<br>CF- reserves | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-02): Approved exception at origination for Incomplete VOM- primary; missing 12/21-3/22. Comp factor: LTV , reserves |  |  | 12/02/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000488 | 27402002 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) EOI reflects 100% coinsurance 2) EOI reflects blanket liability coverage without required endorsement for full coverage amount applicable to each covered location. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for co-insurance. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000488 | 27410663 | XXXX | 12/02/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Interest only term exceeds five years. An approved exception is not documented. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived. Updated approval received in trailing documents approving excepiton for interest only term. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000489 | 27431580 | XXXX | 12/06/2022 | Credit | Credit | Credit Documentation | Missing Document |  | Missing Document: Credit Report not provided |  | Credit report aged > 60 days. An approved exception is not documented. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The representative FICO score exceeds the guideline minimum by XX points. | CF- reserves<br>CF- FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for credit report aged > 60 days. comp Factor: Reserves, FICO<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000489 | 27431588 | XXXX | 12/06/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation |  | Missing Document: Proof of Residency Status not provided |  | Missing Green card/Visa for permanent resident alien as indicated on application. (employment auth card in file does not evidence residency status) | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing required greencard/visa. comp Factor: Reserves<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000490 | 27408270 | XXXX | 12/06/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | FICO < 650 is not documented as an approved exception | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- seasoned investor<br>CF- reserves<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for FICO < 650. comp Factor: Seasoned investor, LTV, Reserves<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000490 | 27431639 | XXXX | 12/06/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | < 2 active major tradelines on credit report | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- seasoned investor<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for tradelines. Comp factors, seasoned investor and LTV.<br>Buyer Comment (2022-12-21): Exception noted on uploaded approval<br>Reviewer Comment (2022-12-21): Exception remains- insufficient tradelines is not documented as an exception on uploaded approval<br>Buyer Comment (2022-12-19): Exception noted on uploaded approval |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000490 | 27536020 | XXXX | 12/21/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOM-primary; mortgage in spouses name. | Borrower's Experience/Track Record<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- seasoned investor<br>CF- reserves<br>CF- LTV | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOM-primary. comp Factor: Seasoned investor, LTV, Reserves |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000492 | 27394538 | XXXX | 12/02/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | No active major tradelines on credit report. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for insufficient tradelines. comp Factor: Seasoned investor<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval |  |  | 12/20/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000492 | 27394540 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for Subject DSCR < 1.20x Guideline min requirement for multifamily property with loan > $500k. Comp. Factors: FICO, Seasoned Investor. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ seasoned investor<br>CF_ FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-11-29): Approved exception at origination for Subject DSCR < 1.20x Guideline min requirement for multifamily property with loan > $500k. Comp. Factors: FICO, Seasoned Investor. |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000492 | 27394662 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing 1) Wind/hail coverage 2) Law & Ordinance Coverage A. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for missing both Wind hail and Law & Ord coverage. comp Factor: Seasoned investor<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval |  |  | 12/20/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000492 | 27396351 | XXXX | 12/02/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-primary; guarantor lives rent free. An approved exception is not documented. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for Missing VOR-primary; guarantor lives rent free. comp Factor: Seasoned investor<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval |  |  | 12/20/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000493 | 27403212 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp. Factor: Seasoned Business | Borrower's Experience/Track Record | CF- seasoned business | SitusAMC,Originator | Reviewer Comment (2022-11-30): Approved exception at origination for FICO < 650. Comp. Factor: Seasoned Business |  |  | 11/30/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000494 | 27403380 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination or missing Law & Ordinance coverage. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-30): Approved exception at origination or missing Law & Ordinance coverage. Comp. Factor: Seasoned Investor. |  |  | 11/30/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000495 | 27394939 | XXXX | 12/02/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Approved exception at origination for missing lease/31.5% vacancy. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-29): Approved exception at origination for missing lease/ 31.5% vacancy. Comp. Factor: Seasoned Investor. |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000495 | 27394951 | XXXX | 12/02/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination incomplete VOR- primary (lived rent free with family). Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-29): Approved exception at origination incomplete VOR- primary; missing pay history prior toxx/xx. Comp. Factor: Seasoned Investor. |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000495 | 27394958 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Missing Hazard Insurance |  | Approved exception at origination for non collection of full insurance premium at closing with payment plan. Comp. Factor: Seasoned Investor. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-11-29): Approved exception at origination for non collection of full insurance premium at closing with payment plan. Comp. Factor: Seasoned Investor. |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000496 | 27394317 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) missing Bus income/ loss of rents coverage. 2) missing law & ordinance coverage A- loss to undamaged portion of bldg. | The representative FICO score exceeds the guideline minimum by XX points. | CF_ FICO | SitusAMC,Originator | Reviewer Comment (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for missing both business income and Law & Ord coverage. comp Factor: FICO<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval |  |  | 12/20/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000496 | 27396274 | XXXX | 12/02/2022 | Credit | Credit | Miscellaneous | Guideline |  | Credit Exception: |  | Second Mortgage term less than 36 months. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points. | CF_ FICO | SitusAMC,Originator | Reviewer Comment (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for 2nd mtg term < guideline min requirement. comp Factor: FICO<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval |  |  | 12/20/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000497 | 27410953 | XXXX | 12/02/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Missing 1) law & ordinance coverage 2) liability each occurrence coverage amount. | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exceptions for Missing both law & ord coverage and liability per occurrence amount details. comp Factor: LTV<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval |  |  | 12/20/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000497 | 27410954 | XXXX | 12/02/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exceptions at origination for 1) Missing VOR-primary; guarantor lives rent free, and 2) incomplete VOM-subject. Comp factor: Seasoned investor | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-01): Approved exceptions at origination for 1) Missing VOR-primary; guarantor lives rent free, and 2) incomplete VOM-subject; most recent payment documented is xx/xx. comp factor: Seasoned investor |  |  | 12/01/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000498 | 27395341 | XXXX | 12/02/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Missing VOR-primary (lives rent free). An approved exception is not documented. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ seasoned investor<br>CF_ FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-20): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing VOR-primary. comp Factor: FICO, Seasoned investor<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval |  |  | 12/20/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000498 | 27395408 | XXXX | 12/02/2022 | Credit | Insurance | Insurance Documentation | Insurance |  | Missing Document: Flood Insurance Policy not provided |  | Missing EOI for flood insurance for subject property | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ seasoned investor<br>CF_ FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing EOI for Flood coverage. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-12-20): Exception noted for missing proof of flood. Uploaded final Hud shows disbursement to NFIP for insurance |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000498 | 27395410 | XXXX | 12/02/2022 | Credit | Loan Package Documentation | Loan File | Missing Document |  | Missing Document: Hazard Insurance Policy not provided |  | Missing EOI for both property hazard & liability coverage for subject property | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ seasoned investor<br>CF_ FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for missing EOI for liability coverage. comp Factor: Seasoned investor, FICO<br>Buyer Comment (2022-12-20): Exception noted for liability<br>Buyer Comment (2022-12-20): Uploaded for hazard. |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000498 | 27526497 | XXXX | 12/21/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | NEW- EOI uploaded in trailing docs 1) is missing loss of rents/business income coverage 2) wind deductible of 5% on $585k coverage amount exceeds guideline max wind deductible of $25k. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ seasoned investor<br>CF_ FICO | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-23): Exception waived. Updated approval received in trailing documents approving excepiton for loss of rent/business income and Wind deductible. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-21): Exception noted on uploaded approval |  |  | 12/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000535 | 27449921 | XXXX | 12/07/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for incomplete VOM- missing 2 mos payments. Comp factor: FICO | The representative FICO score exceeds the guideline minimum by XX points. | CF_ FICO | SitusAMC,Originator | Reviewer Comment (2022-12-06): Approved exception at origination for incomplete VOM- missing 2 mos payments. comp factor: FICO |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000536 | 27444016 | XXXX | 12/06/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) Policyholder/ Named insured is guarantor and not borrower entity. 2) EOI reflects Loss of Use and not Loss of Rents coverage (landlord/rental coverage is not evidenced). | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for named of insured. Comp factor, LTV.<br>Buyer Comment (2022-12-20): 1) Exception noted on uploaded approval. 2) is a landlord policy, loss of use is acceptable |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000536 | 27444306 | XXXX | 12/06/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Loan amounts less than $75,000 are not permitted according to the guidelines |  | Approved exception at origination for subject note < $75K. Comp factors: LTV, Seasoned Investor, Reserves. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF- LTV<br>CF_ reserves | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-06): Approved exception for subject note < $75K. Comp factors: LTV, Seasoned Investor, Reserves. |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000536 | 27444315 | XXXX | 12/06/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp factors; Seasoned Investor, LTV, Reserves. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- seasoned investor<br>CF- LTV<br>CF_ reserves | SitusAMC,Originator<br>SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-06): Approved exception at origination for FICO < 650. Comp factors; Seasoned Investor, LTV, Reserves. |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000538 | 27455065 | XXXX | 12/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp factor: seasoned investor | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-07): Approved exception at origination for FICO < 650. comp factor: seasoned investor |  |  | 12/07/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000540 | 27473772 | XXXX | 12/13/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for liability coverage < $300,000. Comp factor: FICO | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-12-12): Approved exception at origination for Hazard liability < $300,000. Comp factor: high FICO |  |  | 12/12/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000541 | 27445015 | XXXX | 12/06/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factors; Seasoned Investor, FICO. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-06): Approved exception at origination for VOR. Comp factors; Seasoned Investor, High FICO. |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000541 | 27445458 | XXXX | 12/06/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | The property has been listed for sale in the last 12 months. |  | Cash out on property owned less than 12 months using the appraised value > the purchase price. An approved exception not documented. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for value seasoning/cash out. Comp factor, FICO.<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000542 | 27445363 | XXXX | 12/07/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Approved exception at origination for missing lease (subject is AirBNB) Comp factor: Seasoned investor | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-06): Approved exception at origination for missing lease (subject is AirBNB) comp factor: Seasoned investor |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000542 | 27445418 | XXXX | 12/07/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | < 2 active major tradelines on credit report | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for tradelines. Comp factor, seasoned investor.<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000542 | 27445488 | XXXX | 12/07/2022 | Credit | Loan Package Documentation | Loan File | Missing Document |  | Missing Document: Hazard Insurance Policy not provided |  | Policy has guarantor as the insured and not the borrowing entity. | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for name of insured. Comp factor, seasoned investor.<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000543 | 27453245 | XXXX | 12/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp factor; Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-07): Approved exception at origination for FICO < 650. Comp factor; Seasoned Investor. |  |  | 12/07/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000544 | 27446584 | XXXX | 12/06/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Less than 2 major tradelines reported on credit. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | Borrower's Experience/Track Record.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for tradelines. Comp factors, LTV and seasoned investor.<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000544 | 27446763 | XXXX | 12/06/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  | Missing Lease Agreement for 1 of 2 units. | Borrower's Experience/Track Record<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | Borrower's Experience/Track Record.<br>The Loan to Value (LTV) on the loan is less than the guideline maximum. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for missing Lease. Comp factors, LTV and seasoned investor.<br>Buyer Comment (2022-12-20): Exception noted ouploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000545 | 27451801 | XXXX | 12/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp factor; Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-07): Approved exception at origination for FICO < 650. Comp factor; Seasoned Investor. |  |  | 12/07/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000545 | 27451813 | XXXX | 12/07/2022 | Credit | Credit | AUS Discrepancy / Guidelines Discrepancy | Credit |  | Loan amounts less than $75,000 are not permitted according to the guidelines |  | Approved exception at origination for subject note < $75K. Comp factor; Seasoned Investor. | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-07): Approved exception at origination for subject note < $75K. Comp factor; Seasoned Investor. |  |  | 12/07/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000546 | 27450000 | XXXX | 12/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Wind deductible of 3% on $1.8MM coverage amount exceeds guideline max wind deductible of $25k. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for deductible. Comp factor, FICO.<br>Buyer Comment (2022-12-20): Uploaded |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000546 | 27450006 | XXXX | 12/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | LTV > 70% for SFR loan > $1MM. An approved exception is not documented. | The representative FICO score exceeds the guideline minimum by XX points. | The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for LTV. Comp factor, FICO.<br>Buyer Comment (2022-12-20): Exception noted |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000548 | 27446200 | XXXX | 12/06/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Approved exception at origination for not collecting full 12 mo premium at closing/ waiver of insurance impounds. Comp factor: seasoned investor | Borrower's Experience/Track Record | CF- seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-06): Approved exception at origination for not collecting full 12 mo premium at closing/ waiver of insurance impounds. Comp factor: seasoned investor |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000549 | 27450054 | XXXX | 12/07/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Approved exception at origination for < 2 active major tradelines. Comp factor: seasoned investor | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-06): Approved exception at origination for < 2 active major tradelines. comp factor: seasoned investor |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000549 | 27450055 | XXXX | 12/07/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Missing Hazard Insurance |  | Approved exception at origination for waiver of insurance impounds. Comp factor: seasoned investor | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-06): Approved exception at origination for waiver of insurance impounds. comp factor: seasoned investor |  |  | 12/06/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000550 | 27454324 | XXXX | 12/07/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Comparable Rent Schedule not provided |  | Comparable rent schedule included with 1004 appraisal in file is blank/incomplete due to lack of supported rental data. An approved exception is not documented. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-12-23): Exception waived. Updated approval received in trailing documents approving exception for Comparable Rent Schedule. Comp factor, reserves.<br>Buyer Comment (2022-12-21): Exception noted on uploaded aprpoval |  |  | 12/23/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000550 | 27454475 | XXXX | 12/07/2022 | Credit | Credit | Credit Eligibility | Credit |  | Guideline Issue: Derogatory consumer credit outside of credit guidelines |  | Unpaid tax lien > $25k on credit report. An approved exception is not documented. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | SitusAMC,Originator | Reviewer Comment (2022-12-23): Exception waived. Updated approval received in trailing documents approving exception for tax lien. Comp factor, reserves.<br>Buyer Comment (2022-12-21): Exception noted on uploaded approval |  |  | 12/23/2022 | 2 B | XX/XX/XXXX | Purchase | B | A |  |  | No |
| XXXX | XXXX |  | 1000551 | 27446301 | XXXX | 12/06/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | EOI (owners policy) reflects Loss of Use, not loss of rents coverage (landlord/rental coverage is not evidenced). | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for loss of use coverage. Comp factor, seasoned investor.<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000551 | 27446910 | XXXX | 12/06/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | < 12 mos VOM-primary (non-standard VOM form in file references only 5 mos). | Borrower's Experience/Track Record | Borrower's Experience/Track Record. | SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for VOM primary. Comp factor, seasoned investor.<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000552 | 27446890 | XXXX | 12/06/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Policy contains loss of use and not loss of rents coverage. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for loss of use coverage. Comp factors, Seasoned investor and FICO.<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000555 | 27446300 | XXXX | 12/06/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | 1) EOI reflects individual as policy holder/insured and not borrower entity. 2) EOI reflects loss of use and not loss of rents coverage with Homeowners policy type. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for loss of use coverage. Comp factors, seasoned investor and FICO. Borrower listed as additional insured.<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval for Loss of Use<br>Buyer Comment (2022-12-20): Uploaded shows borrowing entity as additional insured. This is sufficient |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000555 | 27446494 | XXXX | 12/06/2022 | Credit | Credit | Credit Documentation | Credit |  | Missing lease Agreement |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived. Updated approval received in trailing documents approving exception for vacancy. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-20): An exception has been noted on uploaded approval for vacancy. This is the property exception. if a property is vacant, then we know there is no lease |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000556 | 27437436 | XXXX | 12/06/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Missing Hazard Insurance |  | Approved exception at origination for waiver of insurance impounds; on payment plan. Comp factor: LTV | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF_ LTV | SitusAMC,Originator | Reviewer Comment (2022-12-05): Approved exception at origination for waiver of insurance impounds; on payment plan. comp factor: LTV |  |  | 12/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000556 | 27437443 | XXXX | 12/06/2022 | Credit | Credit | Credit Calculation / Analysis | Credit |  | Guideline Issue: Insufficient tradelines per credit guidelines |  | Approved exception at origination for no active major tradelines on credit report. Comp factor: LTV, seasoned investor, Seasoned business | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record | CF_ LTV<br>CF- seasoned investor, seasoned business | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-05): Approved exception at origination for no active major tradelines on credit report. comp factor: LTV, seasoned investor, Seasoned business |  |  | 12/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000557 | 27438028 | XXXX | 12/06/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | FICO below 650 |  | Approved exception at origination for FICO < 650. Comp factor: LTV, Seasoned investor | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record | CF- LTV<br>CF- seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-05): Approved exception at origination for FICO < 650. comp factor: LTV, Seasoned investor |  |  | 12/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000557 | 27438031 | XXXX | 12/06/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exception at origination for missing VOR-primary; guarantor lives rent free. Comp factor: LTV, Seasoned investor | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record | CF- LTV<br>CF- seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-05): Approved exception at origination for missing VOR-primary; guarantor lives rent free. comp factor: LTV, Seasoned investor |  |  | 12/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000557 | 27438036 | XXXX | 12/06/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for DSCR < 1.20x for investor mixed use property with loan > $500k. Comp factor: LTV | The Loan to Value (LTV) on the loan is less than the guideline maximum. | CF- LTV | SitusAMC,Originator | Reviewer Comment (2022-12-05): Approved exception at origination for DSCR < 1.20x for investor mixed use property with loan > $200k. comp factor: LTV |  |  | 12/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000557 | 27438222 | XXXX | 12/06/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Insufficient Hazard Insurance |  | Wind deductible of 2% on $1.6MM coverage amount exceeds guideline max wind deductible of $25k | The Loan to Value (LTV) on the loan is less than the guideline maximum.<br>Borrower's Experience/Track Record | CF- LTV<br>CF- seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-21): Exception waived - due to receipt of updated loan approval WS reflecting approved exception for wind deductible amount. comp Factor: seasoned investor, LTV<br>Buyer Comment (2022-12-20): Exception noted on uploaded approval |  |  | 12/21/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000559 | 27438356 | XXXX | 12/07/2022 | Credit | Credit | Credit Documentation | Guideline |  | Missing Document: Verification of Rent (VOR) / Verification of Mortgage (VOM) not provided |  | Approved exceptions at origination for 1) missing VOR-primary; guarantor lives rent free, and 2) incomplete VOM-subject. Comp factor: Seasoned investor | Borrower's Experience/Track Record | CF_ seasoned investor | SitusAMC,Originator | Reviewer Comment (2022-12-05): Approved exceptions at origination for 1) missing VOR-primary; guarantor lives rent free, and 2) incomplete VOM-subject; missing pay history prior to 06/22. comp factor: Seasoned investor |  |  | 12/05/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000559 | 27438373 | XXXX | 12/07/2022 | Credit | Property - Appraisal | Appraisal Documentation | Property - Appraisal |  | Missing Document: Appraisal not provided |  | Appraisal contains a Leased Fee valuation and not Fee Simple opinion of Value. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | CF_ seasoned investor<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-23): Exception waived. Updated approval received in trailing documents approving exception for Lease Fee valuation. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-22): Exception noted on uploaded approval |  |  | 12/23/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  | 1000560 | 27469648 | XXXX | 12/13/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | LTV does not meet guidelines |  | Approved exception at origination for LTV >70% on investor mixed use refi. Comp. Factors: Reserves, Seasoned Investor. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- reserves<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-12): Approved exception at origination for LTV >70% on investor mixed use refi Guidelines. Comp. Factors: Reserves, Seasoned Investor. |  |  | 12/12/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000560 | 27469649 | XXXX | 12/13/2022 | Credit | Small Balance Commercial | General | Small Balance Commercial |  | Debt service ratio issue |  | Approved exception at origination for DSCR <1.20x Guideline min threshold for investor mixed use property with loan > $100k. Comp. Factors: Reserves, Seasoned Investor. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- reserves<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-12): Approved exception at origination for DSCR <1.20x Guideline min threshold for investor mixed use property with loan > $100k. Comp. Factors: Reserves, Seasoned Investor. |  |  | 12/12/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |
| XXXX | XXXX |  | 1000560 | 27469650 | XXXX | 12/13/2022 | Credit | Missing Document | General | Missing Document |  | Missing Document: Lease Agreement not provided |  | Approved exception at origination for 51% vacancy/missing lease for subject traditional 1 property with loan > $500k. Comp. Factors: Reserves, Seasoned Investor. | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months.<br>Borrower's Experience/Track Record | CF- reserves<br>CF_ seasoned investor | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-12): Approved exception at origination for 51% vacancy/ missing lease for subject traditional 1 property with loan > $500k. Comp. Factors: Reserves, Seasoned Investor. |  |  | 12/12/2022 | 2 B | XX/XX/XXXX | Refinance - Rate/Term | B | A |  |  | No |

---

## Exhibit 99.05

[VCC 2023-1 ABS-15G](vcc-abs15g_010323.htm)

**Exhibit 99.05**

![](situs_logo.jpg)

**Loan Level Exception - Disposition**

---

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | **FINAL COMPLIANCE LOAN GRADES** | **FINAL COMPLIANCE LOAN GRADES** | **FINAL COMPLIANCE LOAN GRADES** | **FINAL COMPLIANCE LOAN GRADES** | **FINAL COMPLIANCE LOAN GRADES** |
| **AMC Loan ID** | **Customer Loan ID** | **Seller Loan ID** | **Servicer Loan ID** | **Edgar ID** | **Original Loan Amount** | **Note Date** | **Purpose** | **QM Status** | **Overall Grade** | **Credit Grade** | **Credit Exceptions** | **Credit Exception Information** | **Credit Exception Comments** | **Property Grade** | **Property Exceptions** | **Property Exception Information** | **Property Exception Comments** | **Compliance Grade** | **Compliance Exceptions** | **Compliance Exception Information** | **Compliance Exception Comments** | **Compliance Comp Factors** | **Compensating Factors** | **DBRS** | **Fitch** | **Kroll** | **Moody's** | **S&P** |
| XXXX | XXXX |  |  | 1000089 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000090 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000091 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000092 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000093 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000094 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000095 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000096 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000097 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000098 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000099 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000100 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000101 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000102 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000103 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000104 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000105 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000106 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000107 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000108 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000109 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000110 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000111 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000112 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000113 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000114 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000115 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000116 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000222 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000223 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000224 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000225 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000226 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000227 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000228 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000229 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000230 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000231 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000232 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000233 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000234 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Application / Processing - Missing Document: Business Purpose Letter of Intent not provided | Missing Business Purpose Disclosure. | BUYER - GENERAL COMMENT (2022-11-22): UPloaded<br> REVIEWER - GENERAL COMMENT (2022-11-26): Exception remains _ Uploaded BP disclosure reflects an entity applicant and loan # unrelated to borrower and signatures do not match borrower signature on loan docs.<br> BUYER - GENERAL COMMENT (2022-12-21): Exception noted on uploaded approval<br> REVIEWER - WAIVED COMMENT (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing Business Purpose Disclosure. Comp factors, seasoned investor and FICO. | 1 |  |  |  |  |  |  |  |  | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. |  |  |  |  | A B |
| XXXX | XXXX |  |  | 1000235 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000236 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000237 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000238 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000239 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000240 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000241 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000242 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000243 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000244 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000245 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000246 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000247 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000248 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000249 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000250 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000251 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000252 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000253 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000254 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000255 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000256 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000257 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000258 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000259 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000260 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000261 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000262 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000263 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000264 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000265 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000266 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000267 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000268 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000269 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000270 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000271 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000272 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000273 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000274 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000275 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000276 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000277 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000278 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000279 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000280 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000281 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000282 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000283 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000284 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000330 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000331 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000332 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000333 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000334 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000335 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000336 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000337 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000338 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000339 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000340 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000341 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000342 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000343 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000344 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000345 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000346 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000347 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000348 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000349 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000350 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000351 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000352 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000353 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000354 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000355 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000356 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000357 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000358 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000359 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000360 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000361 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000362 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000363 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000364 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000365 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000366 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000367 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000368 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000369 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000370 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000371 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000372 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000373 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000374 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000375 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000376 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000377 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000378 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000379 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000686 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000690 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000679 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 2 | 2 | [2] Credit Documentation - Missing lease Agreement | Approved exception at origination for missing lease for subject SFR condo refi. comp factor: Reserves | REVIEWER - WAIVED COMMENT (2022-11-29): Approved exception at origination for missing lease for subject SFR condo refi. comp factor: Reserves | 1 |  |  |  |  |  |  |  |  | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. |  |  |  |  | A B |
| XXXX | XXXX |  |  | 1000681 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000682 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000684 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000685 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000689 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000694 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000691 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000688 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000680 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000692 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000687 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000683 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000693 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000499 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000500 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000501 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000502 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000503 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000504 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000505 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000506 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000507 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000508 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000509 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000510 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000511 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000512 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000513 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000514 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000515 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000516 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000517 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000518 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000519 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000520 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000521 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000522 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000523 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000524 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000525 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000526 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000527 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000528 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000529 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000530 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000531 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000532 | $XXXX | XX/XX/XXXX | Refinance Rate/Term |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000533 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000534 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000562 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000563 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000564 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000565 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000566 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000567 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000568 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000569 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000570 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000571 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000572 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000573 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000574 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000575 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000576 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000577 | $XXXX | XX/XX/XXXX | Purchase |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |
| XXXX | XXXX |  |  | 1000578 | $XXXX | XX/XX/XXXX | Refinance Cash-out - Other |  | 1 | 1 |  |  |  | 1 |  |  |  |  |  |  |  |  | A |  |  |  |  | A |

---

## Exhibit 99.06

[VCC 2023-1 ABS-15G](vcc-abs15g_010323.htm)

**Exhibit 99.06**

![](situs_logo.jpg)

**Exception Grades**

---

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SitusAMC Loan ID** | **Customer Loan ID** | **Seller Loan ID** | **Investor Loan Number** | **Edgar ID** | **Loan Exception ID** | **Exception ID** | **Exception Date** | **Exception Type** | **Exception Category** | **Exception Subcategory** | **15E Category** | **Exception** | **Exception Detail** | **Exception Information** | **Compensating Factors** | **Compensating Factor Information** | **Applying Party** | **Follow-up Comments** | **Cleared Date** | **Cured Date** | **Waived Date** | **Exception Level Grade** | **Note Date** | **Purpose** | **Exception Remediation** | **Compliance<br> Final Loan Grade** | **Originator QM ATR Status** | **TPR QM ATR Status** | **Is Curable** |
| XXXX | XXXX |  |  | 1000234 | 27161498 | XXXX | 11/07/2022 | Credit | Loan Package Documentation | Application / Processing | Loan Package Documentation | Missing Document: Business Purpose Letter of Intent not provided |  | Missing Business Purpose Disclosure. | Borrower's Experience/Track Record<br>The representative FICO score exceeds the guideline minimum by XX points. | Borrower's Experience/Track Record.<br>The representative FICO score exceeds the guideline minimum by XX points. | SitusAMC,Originator<br>SitusAMC,Originator | Reviewer Comment (2022-12-22): Exception waived. Updated approval received in trailing documents approving exception for missing Business Purpose Disclosure. Comp factors, seasoned investor and FICO.<br>Buyer Comment (2022-12-21): Exception noted on uploaded approval<br>Reviewer Comment (2022-11-26): Exception remains _ Uploaded BP disclosure reflects an entity applicant and loan # unrelated to borrower and signatures do not match borrower signature on loan docs.<br>Buyer Comment (2022-11-22): UPloaded |  |  | 12/22/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |
| XXXX | XXXX |  |  | 1000679 | 27396096 | XXXX | 11/30/2022 | Credit | Credit | Credit Documentation | Credit | Missing lease Agreement |  | Approved exception at origination for missing lease for subject SFR condo refi. comp factor: Reserves | Borrower's monthly reserves have been verified and exceed the amount required based on the guidelines by XX months. | CF- reserves | SitusAMC,Originator | Reviewer Comment (2022-11-29): Approved exception at origination for missing lease for subject SFR condo refi. comp factor: Reserves |  |  | 11/29/2022 | 2 B | XX/XX/XXXX | Refinance - Cash-out - Other | B | A |  |  | No |

---

## Exhibit 99.07

[VCC 2023-1 ABS-15G](vcc-abs15g_010323.htm)

**Exhibit 99.07**

![](situs_logo.jpg)

**Valuation Report**

---

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **LOAN INFORMATION** | **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** | **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** | **DESK REVIEW VALUES** | **DESKTOP APPRAISAL VALUES** | **DESKTOP APPRAISAL VALUES** | **DESKTOP APPRAISAL VALUES** | **DESKTOP APPRAISAL VALUES** | **DESKTOP APPRAISAL VALUES** | **DESKTOP APPRAISAL 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** | **FIELD REVIEW VALUES** | **2055 VALUES** | **2055 VALUES** | **2055 VALUES** | **2055 VALUES** | **2055 VALUES** | **2055 VALUES** | **AVE/CMA VALUES** | **AVE/CMA VALUES** | **AVE/CMA VALUES** | **AVE/CMA VALUES** | **AVE/CMA VALUES** | **HYBRID VALUES** | **HYBRID VALUES** | **HYBRID VALUES** | **HYBRID VALUES** | **HYBRID VALUES** | **UPDATED VALUES** | **UPDATED VALUES** | **UPDATED VALUES** | **UPDATED VALUES** | **UPDATED VALUES** | **UPDATED VALUES** | **UPDATED MULTIPROPERTY VALUES** | **UPDATED MULTIPROPERTY VALUES** | **UPDATED MULTIPROPERTY VALUES** |  |  |
| **SitusAMC Loan ID** | **Customer Loan ID** | **Seller Loan ID** | **Investor Loan Number** | **Edgar ID** | **Note Date** | **Original Loan Amount** | **Sales Price** | **Value for LTV** | **LTV Value Variance Amount** | **LTV Value Variance Percent** | **Appraised Value** | **Appraisal Report Date** | **Appraisal Effective Date** | **Appraisal Valuation Type** | **Second Appraisal Value** | **Second Appraisal Variance Amount** | **Second Appraisal Variance Percent** | **Second Appraisal Report Date** | **Second Appraisal Effective Date** | **Second Appraisal Type** | **Second Appraisal Company** | **Second Appraisal Confidence Score** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Confidence<br> Score** | **Appraisal Report Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Risk Score** | **Appraisal Report Date** | **Appraisal Effective Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Report Date** | **Appraisal Effective Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Report Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Report Date** | **Appraisal Effective Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Report Date** | **Appraisal Effective Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Report Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Report Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Report Date** | **Appraisal Effective 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 | XXXX |  |  | 1000678 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.131% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000676 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000677 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000046 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000047 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000048 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000049 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000050 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 1.025% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000051 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000052 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 6.898% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000053 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 8.235% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000054 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000055 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000056 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000058 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000059 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 11.875% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000060 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000061 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000062 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000063 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000064 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 18.280% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000065 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000066 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 5.263% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000067 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000068 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 6.966% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000069 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000070 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000071 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000072 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000074 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 1.925% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000075 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 65.217% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000076 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000077 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000078 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000117 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.005% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000118 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000119 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000120 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | -8.955% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000121 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000122 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000123 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000124 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000125 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000126 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000127 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 22.933% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000128 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000129 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 1.053% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000130 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000131 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 15.094% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000132 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000133 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 12.385% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000134 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000135 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000136 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.240% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000137 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000138 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000139 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 8.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | No |  |
| XXXX | XXXX |  |  | 1000140 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000141 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | -7.143% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000142 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000143 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000144 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.484% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000145 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000147 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000148 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000149 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000150 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000151 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000152 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000153 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 2.500% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000154 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 17.647% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000155 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000156 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000157 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 14.035% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000158 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000159 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000160 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000161 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000162 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000164 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000165 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000166 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000167 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000168 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000169 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 12.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000170 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000171 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 10.714% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000172 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 1.015% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000173 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000174 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000175 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | -9.091% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000176 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000177 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000178 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 4.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000180 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000181 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000182 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 1.224% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000183 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000184 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000185 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000186 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.730% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000187 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000188 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000189 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | -7.895% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000190 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000191 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 23.529% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000192 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000285 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 4.211% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000286 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000287 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000288 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 16.820% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000289 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000290 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000291 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000292 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000293 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.629% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000294 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000295 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000296 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000297 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000298 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000299 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | No |  |
| XXXX | XXXX |  |  | 1000300 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000301 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000302 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000303 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000305 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000306 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000307 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000308 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000309 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.177% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000310 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 6.780% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000311 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.629% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000312 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 30.667% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000314 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | -1.053% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000315 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000316 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000317 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000318 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 1.527% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000319 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 7.111% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000320 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000380 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 22.222% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000381 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000382 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000383 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000384 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 42.353% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000385 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000386 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000387 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000388 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 1.522% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000389 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000390 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000391 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 6.707% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | XXXX |  |  | 1000392 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000393 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 10.175% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000394 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 8.333% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000395 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000398 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000399 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 6.383% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000400 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 9.746% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000401 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000402 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000403 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000404 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000405 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 6.944% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000406 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000418 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 21.324% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000419 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 7.784% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | No |  |
| XXXX | XXXX |  |  | 1000420 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 25.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000422 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000423 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000424 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000425 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000426 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000427 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | -7.143% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000428 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000429 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | -8.824% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000430 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000431 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 30.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000432 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 4.167% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000433 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000434 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000435 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000436 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000437 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 21.324% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000438 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 6.993% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000447 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.813% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000448 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 25.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000449 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.802% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000450 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 21.324% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000451 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 21.324% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000452 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000453 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 23.162% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000454 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000455 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000456 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000457 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000458 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000459 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000460 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000461 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000462 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000463 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 2.500% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000464 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000465 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000466 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000467 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 5.556% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000468 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000469 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000470 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 21.324% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000471 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 4.412% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000472 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 4.444% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | XXXX |  |  | 1000473 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 23.853% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| XXXX | XXXX |  |  | 1000474 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 3.030% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000476 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 7.748% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000477 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000479 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 21.324% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000480 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 15.809% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000481 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000482 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000483 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000484 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000485 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000486 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 25.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000487 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 11.024% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000488 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 25.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000489 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 5.263% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000490 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 2.174% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000535 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000536 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | -6.364% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000537 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000538 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000539 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000540 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000541 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000542 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000543 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000544 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000545 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 28.571% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000546 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000547 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000548 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000550 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000551 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | -3.158% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000552 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | No |  |
| XXXX | XXXX |  |  | 1000553 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000554 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.000% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000555 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 9.649% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |

---

## Exhibit 99.08

[VCC 2023-1 ABS-15G](vcc-abs15g_010323.htm)

**Exhibit 99.08**

---

| |
|:---|
| ![](situs_logo.jpg) |
| **Multi Property Valuation Report** |

---

---

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| **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **LOAN INFORMATION** | **PROPERTY INFORMATION** | **PROPERTY INFORMATION** | **PROPERTY INFORMATION** | **PROPERTY INFORMATION** | **PROPERTY INFORMATION** | **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** | **DESK REVIEW VALUES** | **DESK REVIEW VALUES** | **DESK REVIEW VALUES** | **DESK REVIEW VALUES** | **DESK REVIEW VALUES** | **DESK REVIEW VALUES** | **DESK REVIEW VALUES** | **DESKTOP APPRAISAL VALUES** | **DESKTOP APPRAISAL VALUES** | **DESKTOP APPRAISAL VALUES** | **DESKTOP APPRAISAL VALUES** | **DESKTOP APPRAISAL VALUES** | **DESKTOP APPRAISAL 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** | **FIELD REVIEW VALUES** | **2055 VALUES** | **2055 VALUES** | **2055 VALUES** | **2055 VALUES** | **2055 VALUES** | **2055 VALUES** | **AVE/CMA VALUES** | **AVE/CMA VALUES** | **AVE/CMA VALUES** | **AVE/CMA VALUES** | **AVE/CMA VALUES** | **HYBRID VALUES** | **HYBRID VALUES** | **HYBRID VALUES** | **HYBRID VALUES** | **HYBRID VALUES** | **UPDATED VALUES** | **UPDATED VALUES** | **UPDATED VALUES** | **UPDATED VALUES** | **UPDATED VALUES** | **UPDATED VALUES** |  |  |
| **SitusAMC Loan ID** | **Customer Loan ID** | **Seller Loan ID** | **Investor Loan Number** | **Edgar ID** | **Note Date** | **Original Loan Amount** | **Sales Price** | **Value for LTV** | **LTV Value Variance Amount** | **LTV Value Variance Percent** | **Property ID** | **Property Address** | **City** | **State** | **Zip Code** | **Appraised Value** | **Appraisal Report Date** | **Appraisal Effective Date** | **Appraisal Valuation Type** | **Second Appraisal Value** | **Second Appraisal Variance Amount** | **Second Appraisal Variance Percent** | **Second Appraisal Report Date** | **Second Appraisal Effective Date** | **Second Appraisal Type** | **Second Appraisal Company** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Confidence<br> Score** | **Appraisal Report Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Risk Score** | **Appraisal Report Date** | **Appraisal Effective Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Report Date** | **Appraisal Effective Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Report Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Report Date** | **Appraisal Effective Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Report Date** | **Appraisal Effective Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Report Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Report Date** | **Appraised Value** | **Variance Amount** | **Variance Percent** | **Company** | **Appraisal Report Date** | **Appraisal Effective Date** | **Is Eligible for Rep and Warrant Relief per Loan Collateral Advisor?** | **Collateral Underwriter Risk Score** |
| XXXX | XXXX |  |  | 1000057 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000057 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000057 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000073 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000073 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000073 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000073 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000073 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000146 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 28.57% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000146 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 36.11% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000146 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 18.06% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | No |  |
| XXXX | XXXX |  |  | 1000163 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000163 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 18.24% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000163 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000163 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000163 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000163 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000163 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000179 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 20.59% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000179 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000304 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000304 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 16.36% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000304 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 9.73% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | No |  |
| XXXX | XXXX |  |  | 1000304 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 18.26% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000313 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 9.41% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | No |  |
| XXXX | XXXX |  |  | 1000313 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 56.44% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000313 | XX/XX/XXXX | $XXXX | $XXXX | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 18.89% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000396 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 45.45% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000396 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 33.33% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000397 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000397 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000421 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000421 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000421 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX |  | BPO | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000475 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000475 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000475 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000475 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000478 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000478 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000491 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000491 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | -3.04% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000549 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000549 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 0.00% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000549 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 14.17% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |
| XXXX | XXXX |  |  | 1000549 | XX/XX/XXXX | $XXXX |  | $XXXX | $XXXX | 0.000% | XXXX | XXXX | XXXX | XX | XXXXX | $XXXX | XX/XX/XXXX | XX/XX/XXXX | Appraisal | $XXXX | $XXXX | 53.33% | XX/XX/XXXX | XX/XX/XXXX | Desk Review | XXXXX |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | N/A |  |

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