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.2 Schedule 4

 

Marketing ID Infinity Loan ID Loan Number Loan Number 2 Borrower Name State QM/ATR Status Initial Overall Loan Grade Final Overall Grade Final Credit Grade Final Property Grade Final Compliance Grade Material (level 3) TRID exception? Material (level 3) Non-TRID exception? Active Material Exceptions Active Non Material Exceptions Satisfied Exceptions Waived Exceptions Compensating Factors Property Type Note Date LTV CLTV Occupancy Purpose Credit Score Brwr 1 Yrs in Property Brwr 1 Occupation Brwr 1 Yrs on Job Total Monthly Income Mortgage History Cash Out Amount DTI FTHB Flag Loan Doc Type Loan Status Review Date
900000001 XXXX XXXX   XXXX New York Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 70.000% 70.000% Investor Purchase 796         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/09/2025
900000002 XXXX XXXX   XXXX Texas Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 49.817% 49.817% Primary Purchase 738   XXXX 7.92 $49,000.81 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  21.190% No Alternative QC Complete 09/25/2025
900000003 XXXX XXXX   XXXX Arizona Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 79.971% 79.971% Investor Purchase 741   XXXX 12 $19,580.49 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  18.750% No Alternative QC Complete 07/07/2025
900000004 XXXX XXXX   XXXX Utah Non-QM/Compliant 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 75.000% 75.000% Secondary Purchase 731   XXXX 15.83 $26,858.33 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  33.182% No Full Documentation QC Complete 09/26/2025
900000005 XXXX XXXX   XXXX Maryland Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.846% Allowed 8.420% Overby +0.426%

This loan is compliant with regulation 1026.35.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower (XXXX) as it is required by the guideline.

09/XX/2025 Resolved: Resolved as UDM is not applicable on correspondent loans.

*** (CURED) State Higher Price Mortgage Loan - EV R
COMMENT:   Maryland COMAR 09.03.06.02B(13) , COMAR09.03.09.02B(6) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the Code of Maryland Regulations (COMAR).

MD COMAR Higher-Priced Mortgage Loan Test: Charged 8.846% Allowed 8.420% Overby +0.426%

This loan is compliant with regulation MD COMAR, (Maryland COMAR 09.03.06.02B(13) , COMAR 09.03.09.02B(6).
    Single Family XX/XX/XXXX 74.598% 74.598% Primary Cash Out 694 9.83 XXXX 8.66 $14,485.17 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 25.303%   Alternative QC Complete 09/09/2025
900000006 XXXX XXXX   XXXX Pennsylvania Not Covered/Exempt 3 2 2 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a copy of the UDM (Undisclosed Debt Monitoring) document for borrower XXXX as it is required by the guideline.

Gap report present in file dated on 07/XX/2025

09/XX/2025 Resolved: Resolved as UDM is not applicable on correspondent loans.
*** (WAIVED) Title holder is not an individual - EV W
COMMENT:   Allowing LLC borrower for XXXX guidelines.

A copy of an exception approval letter is available in the loan file.
DTI: 41.73% DTI is less then the maximum guidelines requirement of 50.00%

FICO :  757 FICO Exceeds the guidelines requirement of 660

LTV: 75.00% LTV is less than the guideline requirement of 80.00%.
4 Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 757   XXXX 7.33 $15,739.16 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  41.736% No Full Documentation QC Complete 09/09/2025
900000010 XXXX XXXX   XXXX Texas Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Refinance 737       $0.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  25.396%   Alternative QC Complete 09/25/2025
900000012 XXXX XXXX   XXXX Colorado Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide UDM for borrower (XXXX) as it is required by the guideline


09/XX/2025 Resolved: Resolved as UDM is not applicable on correspondent loans.
    PUD XX/XX/XXXX 89.105% 89.105% Primary Purchase 793   XXXX 5.83 $51,493.58 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  17.516% No Alternative QC Complete 09/09/2025
900000013 XXXX XXXX   XXXX Utah Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower (XXXX) as it is required by the guideline.

09/XX/2025 Resolved: Resolved as UDM is not applicable on correspondent loans.
    Single Family XX/XX/XXXX 78.807% 78.807% Primary Refinance 765 20.08 XXXX 7.58 $14,900.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  48.069%   Alternative QC Complete 09/10/2025
900000015 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           2 Family XX/XX/XXXX 85.000% 85.000% Investor Purchase 757   XXXX 4.5   Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 01/02/2026
900000016 XXXX XXXX   XXXX Massachusetts Not Covered/Exempt 1 1 1 1 1 No No           Mid Rise Condo  (5-8 Stories) XX/XX/XXXX 75.000% 75.000% Investor Purchase 772         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/25/2025
900000019 XXXX XXXX   XXXX Nevada Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide updated supplemental report with amount of title insurance covering the loan amount $XXXX


Resolved 09/XX/2025 - Received preliminary report with insured amount, condition resolved.

*** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of Loan scorecard as it is missing.


Resolved 10/XX/2025 - Received XXXX document with loan program and loan details, condition resolved.
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 50.000% 50.000% Investor Cash Out 761       $7,493.03 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 43.846%   Alternative QC Complete 09/10/2025
900000021 XXXX XXXX   XXXX Florida Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower (XXXX) as it is required by the guideline.


09/XX/2025 Resolved: Resolved as UDM is not applicable on correspondent loans.
    High Rise Condo (>=9 Stories) XX/XX/XXXX 80.000% 80.000% Secondary Cash Out 775   XXXX 25 $41,426.78 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 49.291%   Full Documentation QC Complete 09/10/2025
900000023 XXXX XXXX   XXXX Ohio Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Automated Appraisal Review Missing - EV R
COMMENT:   Provide a copy of Secondary Valuation.


Resolved 10/XX/2025 - Received CDA, condition resolved.
    Single Family XX/XX/XXXX 70.000% 70.000% Primary Cash Out 691 22.16 XXXX 12.58 $16,479.22 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 22.827%   Alternative QC Complete 09/25/2025
900000024 XXXX XXXX   XXXX Alabama Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Per Appr prop in flood zone but flood certs = no - EV R
COMMENT:   Please provide an updated appraisal report reflecting the change in FEMA flood zone from ‘Yes’ to ‘No.’ The flood certificate indicates the property is located in Zone ‘X.

Resolved 11/XX/2025: Resolved as the flood certificate indicates that the property is not located in a flood zone. However, the master condo association maintains flood insurance regardless. This discrepancy is a non-material issue, as the appraisal is less precise in this regard — the flood certificate provides a more reliable assessment of the property’s flood zone status.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower (XXXX) as it is required by the guideline

09/XX/2025 Resolved: Resolved as UDM is not applicable on correspondent loans.
    High Rise Condo (>=9 Stories) XX/XX/XXXX 80.000% 80.000% Investor Purchase 781   XXXX 9.25 $31,756.35 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  21.466% No Full Documentation QC Complete 09/10/2025
900000025 XXXX XXXX   XXXX California Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Primary Refinance 771 0.08 XXXX 7 $264,487.28 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  7.060%   Alternative QC Complete 01/02/2026
900000026 XXXX XXXX   XXXX Michigan Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Primary Cash Out 720 30.08 XXXX 36.41 $35,507.54 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 42.851%   Alternative QC Complete 01/02/2026
900000027 XXXX XXXX   XXXX North Carolina Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 71.765% 71.765% Secondary Purchase 731   XXXX 30.83 $228,552.56 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  9.708% No Alternative QC Complete 09/26/2025
900000028 XXXX XXXX   XXXX North Carolina Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Missing Required Disclosures - EV R
COMMENT:   Provide UDM for borrower (XXXX) as it is required by the guideline.


09/XX/2025 Resolved: Resolved as UDM is not applicable on correspondent loans.
    PUD XX/XX/XXXX 66.667% 66.667% Primary Refinance 702 1.5 XXXX 2.08 $13,929.23 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  44.847%   Full Documentation QC Complete 09/10/2025
900000029 XXXX XXXX   XXXX North Carolina Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 686         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/26/2025
900000031 XXXX XXXX   XXXX Oklahoma Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 745         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/26/2025
900000033 XXXX XXXX   XXXX Louisiana Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 50.000% 50.000% Primary Purchase 793   XXXX 4.16 $16,061.23 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  16.827% No Alternative QC Complete 10/10/2025
900000034 XXXX XXXX   XXXX California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a copy of Loan score card as it missing.


09/XX/2025 Resolved - Resolved as Loan score card is not required for delegated loans.
    Single Family XX/XX/XXXX 73.232% 73.232% Primary Purchase 741   XXXX 0.5 $23,539.13 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:
  48.760% No Full Documentation QC Complete 09/10/2025
900000036 XXXX XXXX   XXXX New Mexico Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of the UDM (Undisclosed Debt Monitoring) document for borrower (XXXX) as it is required by the guideline.


09/XX/2025 Resolved: Resolved as UDM is not applicable on correspondent loans.
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 75.000% 75.000% Investor Purchase 797   XXXX 2 $7,083.55 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  28.241% No Full Documentation QC Complete 09/10/2025
900000040 XXXX XXXX   XXXX Florida Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 70.000% 70.000% Primary Purchase 810   XXXX 8.66 $157,180.36 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  6.528% No Alternative QC Complete 01/02/2026
900000041 XXXX XXXX   XXXX Alabama Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Required Documentation Missing or Incomplete  - EV W
COMMENT:   Borrower’s credit score of 717 is acceptable; however, 11 NSFs in the past 12 months exceed the allowable limit of 6. Additionally, no mortgage history is available, and property payment history cannot substitute—this materially impacts the credit-based risk assessment.

A copy of an exception approval letter is available in the loan file.
LTV: 36.80% LTV is less than the guideline requirement of 80.00%.

DTI: 10.04% DTI is less than the maximum guideline requirement of 50.00%.
Single Family XX/XX/XXXX 36.802% 36.802% Primary Cash Out 747 3 XXXX 14.67 $20,801.76 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 10.042%   Alternative QC Complete 10/10/2025
900000042 XXXX XXXX   XXXX Virginia Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 80.000% 80.000% Investor Purchase 724         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  26.253% No Full Documentation QC Complete 09/26/2025
900000045 XXXX XXXX   XXXX Virginia Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 797   XXXX 18.92 $75,492.10 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  10.980% Yes Alternative QC Complete 09/10/2025
900000046 XXXX XXXX   XXXX Maryland Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 745         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/26/2025
900000047 XXXX XXXX   XXXX New Jersey Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Hazard Insurance Coverage less than Loan Amount - EV R
COMMENT:   Dwelling amount $XXXX is not sufficient to cover loan amount $XXXX, Provide a copy replacement cost estimator.


Resolved 10/XX/2025 - Received RCE document and covers the dwelling, condition resolved.
    Single Family XX/XX/XXXX 66.667% 66.667% Primary Cash Out 670 19 XXXX 19.92 $132,776.93 Mos Reviewed:24
Times 1X30:1
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 13.004%   Alternative QC Complete 01/02/2026
900000049 XXXX XXXX   XXXX Maryland Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 85.000% 85.000% Primary Purchase 700   XXXX 17.33 $26,213.04 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  44.623% Yes Alternative QC Complete 09/26/2025
900000050 XXXX XXXX   XXXX Texas Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide supporting income documents for the $6,135.03 as it is missing.


Resolved 10/XX/2025 - Received lender worksheet for other income and the Asset depletion income is waived due to equities account to available assets for closing, condition resolved.
    PUD XX/XX/XXXX 63.683% 63.683% Primary Refinance 742 0.67 XXXX 2.67 $22,916.65 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  36.521%   Full Documentation QC Complete 09/25/2025
900000053 XXXX XXXX   XXXX Oklahoma Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 801   XXXX 0.75 $12,235.58 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  34.696% No Full Documentation QC Complete 09/25/2025
900000054 XXXX XXXX   XXXX Washington Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   NSF event of 8 exceed the guideline requirement of maximum six NSF event in the any 12-month period.

A copy of an exception approval letter is available in the loan file.
FICO: 719 FICO exceeds the guideline requirement of 640.

LTV: 70.00% LTV is less than the guideline requirement of 80.00%.

DTI: 2.22% DTI is less than the maximum guideline requirement of 50.00%.
Single Family XX/XX/XXXX 70.000% 70.000% Primary Refinance 719 5 XXXX 2.58 $271,762.77 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  2.222%   Alternative QC Complete 10/10/2025
900000057 XXXX XXXX   XXXX Virginia Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Hazard Insurance Coverage less than Loan Amount - EV R
COMMENT:   Dwelling amount $XXXX is not sufficient to cover loan amount $XXXX, provide a copy of replacement cost estimator is being covered by the dwelling.


Resolved 10/XX/2025 - Received RCE document, condition resolved.
    Single Family XX/XX/XXXX 65.217% 65.217% Investor Refinance 724         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:
      DSCR QC Complete 09/12/2025
900000058 XXXX XXXX   XXXX Idaho Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 725   XXXX 9.58 $108,982.94 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  9.306% No Alternative QC Complete 09/25/2025
900000059 XXXX XXXX   XXXX California Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Preliminary title does not reflect the amount of $XXXX title insured coverage amount. provide a copy of updated supplemental report.


Resolved 09/XX/2025 - Received title supplement report, condition resolved.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a copy of the UDM (Undisclosed Debt Monitoring) document for borrower (XXXX) as it is required by the guideline.

09/XX/2025 Resolved: Resolved as UDM is not applicable on correspondent loans.
    Single Family XX/XX/XXXX 65.169% 65.169% Investor Refinance 789   XXXX 18.25 $23,966.80 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  29.635%   Full Documentation QC Complete 09/10/2025
900000060 XXXX XXXX   XXXX Massachusetts Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide business bank statements of XXXX for the month ending 1/XX/2025 as it is missing.


Resolved 09/XX/2025 - Received bank statements ending with 1/XX/2025, condition resolved.
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 80.000% 80.000% Primary Purchase 732   XXXX 9.92 $15,997.08 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  44.294% No Alternative QC Complete 09/10/2025
900000061 XXXX XXXX   XXXX South Carolina Non-QM/Compliant 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 53.125% 53.125% Primary Cash Out 728 6.75 XXXX 13.42 $6,248.67 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 48.413%   Full Documentation QC Complete 01/02/2026
900000063 XXXX XXXX   XXXX Texas Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 56.632% 56.632% Primary Refinance 786 23.25 XXXX 24.08 $214,806.80 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  10.538%   Alternative QC Complete 09/26/2025
900000064 XXXX XXXX   XXXX California Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 64.286% 64.286% Primary Purchase 753   XXXX 3.42 $60,753.26 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  42.267% No Full Documentation QC Complete 09/12/2025
900000067 XXXX XXXX   XXXX Virginia Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 50.000% 50.000% Investor Purchase 789   XXXX 5.58   Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/12/2025
900000069 XXXX XXXX   XXXX Massachusetts Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Secondary Purchase 763   XXXX 10.08 $27,866.67 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  30.247% No Full Documentation QC Complete 09/26/2025
900000070 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 70.000% 70.000% Investor Purchase 753   XXXX 6.33 $9,291.66 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  47.801% No Full Documentation QC Complete 09/11/2025
900000071 XXXX XXXX   XXXX Wisconsin Not Covered/Exempt 1 1 1 1 1 No No           2 Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 757   XXXX 12.66 $12,433.33 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  39.686% No Full Documentation QC Complete 09/24/2025
900000072 XXXX XXXX   XXXX Idaho Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of the Mortgage statement for the Property address XXXX.


Resolved 09/XX/2025 - Received LOX as this is private mortgage and there is no mortgage statement - Received cashiers check, condition resolved.
    PUD XX/XX/XXXX 75.000% 75.000% Primary Purchase 725   XXXX 2.5 $385,319.55 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  2.722% No Alternative QC Complete 09/11/2025
900000073 XXXX XXXX   XXXX Tennessee Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 60.000% 60.000% Investor Purchase 787         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/10/2025
900000074 XXXX XXXX   XXXX North Carolina Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.452% Allowed 8.250% Overby +0.202%


This loan is compliant with regulation 1026.35
    PUD XX/XX/XXXX 67.473% 67.473% Primary Cash Out 668 4.66 XXXX 8.33 $157,283.98 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 3.582%   Alternative QC Complete 09/24/2025
900000076 XXXX XXXX   XXXX New Hampshire Non-QM/Compliant 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 80.000% 80.000% Secondary Purchase 771   XXXX 35 $16,120.96 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  48.235% No Full Documentation QC Complete 01/02/2026
900000078 XXXX XXXX   XXXX North Carolina Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 80.000% 80.000% Investor Purchase 734   XXXX 10.33 $116,478.60 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  4.827% No Alternative QC Complete 09/26/2025
900000079 XXXX XXXX   XXXX Ohio Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 58.881% 58.881% Investor Cash Out 794         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 10/09/2025
900000081 XXXX XXXX   XXXX Illinois Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 71.500% 71.500% Investor Cash Out 732         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 10/09/2025
900000082 XXXX XXXX   XXXX New York Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 41.803% 41.803% Primary Cash Out 697 26 XXXX 23.18 $11,859.50 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 42.616%   Alternative QC Complete 10/10/2025
900000083 XXXX XXXX   XXXX Texas Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 50.000% 50.000% Investor Purchase 673   XXXX 8 $32,766.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  25.460% No Alternative QC Complete 09/26/2025
900000084 XXXX XXXX   XXXX Tennessee Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 80.000% 80.000% Investor Purchase 771         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/26/2025
900000086 XXXX XXXX   XXXX Idaho Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.667% Allowed  9.110% Overby +0.557%

This loan is compliant with regulation 1026.35.

*** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of CPA Letter, as it is missing.


Resolved 09/XX/2025 - Received business VOE , condition resolved.

*** (CURED) Transmittal (1008) is Missing - EV R
COMMENT:   Provide a copy of 1008, as it is missing.


Resolved 09/XX/2025 - Received 1008 document, condition resolved.
    PUD XX/XX/XXXX 90.000% 90.000% Primary Purchase 734   XXXX 2.58 $13,167.34 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  48.480% No Alternative QC Complete 09/12/2025
900000087 XXXX XXXX   XXXX Illinois Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide Hazard insurance with Lender Mortgagee Clause.


Resolved 10/XX/2025 - Received HOI with mortgage clause, condition resolved.
    High Rise Condo (>=9 Stories) XX/XX/XXXX 67.568% 67.568% Investor Cash Out 734         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 09/26/2025
900000088 XXXX XXXX   XXXX California Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Title issue - EV R
COMMENT:   Provide an updated title with lender loss payee clause "ISAOA/ATIMA" for the proposed name insured.


Resolved 10/XX/2025 - Received Final title policy, condition resolved.
    Single Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 764   XXXX 25.08 $24,812.99 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  37.824% No Full Documentation QC Complete 09/26/2025
900000089 XXXX XXXX   XXXX California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide VOM for creditor XXXX (XXXX ) & XXXX (XXXX) to verify recent 12 months payment history.


Resolved 10/XX/2025 - Received bank statement with 12 months payment history, condition resolved.
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 75.000% 75.000% Secondary Purchase 795   XXXX 12.66 $40,737.02 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  42.842% No Full Documentation QC Complete 09/26/2025
900000091 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           High Rise Condo (>=9 Stories) XX/XX/XXXX 55.000% 55.000% Investor Cash Out 685         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 10/10/2025
900000092 XXXX XXXX   XXXX Georgia Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 75.000% 75.000% Primary Purchase 787   XXXX 8.08 $73,084.94 Mos Reviewed:24
Times 1X30:
Times 1X60:
Times 1X90:
Currently Delinquent? :
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:
Max Days Dlq Last 12 Mos:
Verification Type:
  19.910% No Alternative QC Complete 09/26/2025
900000093 XXXX XXXX   XXXX Texas Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 51.231% 51.231% Secondary Refinance 763   XXXX 24 $35,262.50 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  49.562%   Full Documentation QC Complete 10/09/2025
900000094 XXXX XXXX   XXXX California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Preliminary title does not reflect the amount of $XXXX title insured coverage amount. provide a copy of supplemental report.


Resolved 10/XX/2025 - Received supplement report, condition resolved.
    PUD XX/XX/XXXX 80.000% 80.000% Primary Purchase 723   XXXX 6.58 $41,781.15 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  16.902% No Alternative QC Complete 09/24/2025
900000099 XXXX XXXX   XXXX Pennsylvania Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Investor Cash Out 747         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 10/10/2025
900000100 XXXX XXXX   XXXX Virginia Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 768   XXXX 3.58 $143,623.39 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  9.622% No Alternative QC Complete 09/26/2025
900000103 XXXX XXXX   XXXX Virginia Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 90.000% 90.000% Primary Purchase 731   XXXX 12.33 $62,609.99 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  25.677% No Alternative QC Complete 01/02/2026
900000107 XXXX XXXX   XXXX Colorado Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 75.000% 75.000% Investor Purchase 775         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/26/2025
900000108 XXXX XXXX   XXXX California Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 70.000% 70.000% Primary Purchase 749   XXXX 6.83 $16,745.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  31.205% Yes Full Documentation QC Complete 10/09/2025
900000110 XXXX XXXX   XXXX Oklahoma Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 80.000% 80.000% Investor Purchase 722         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/26/2025
900000111 XXXX XXXX   XXXX Georgia Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Primary Cash Out 765 8.66 XXXX 3.25 $73,368.17 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 13.295%   Alternative QC Complete 10/10/2025
900000114 XXXX XXXX   XXXX New Jersey Not Covered/Exempt 2 2 2 1 1 No No       *** (WAIVED) Required Documentation Missing or Incomplete  - EV W
COMMENT:   Exception for 25 DUNSFs in the past 12 months  on business bank statement  Occupancy explanation not accepted; loan may proceed as investment. Appraisal shows tenant occupancy.

A copy of an exception approval letter is available in the loan file.
Residual Income : $61,108.54 monthly

DTI: 22.23% DTI is less than the maximum guideline requirement of 50.00%.
Single Family XX/XX/XXXX 70.000% 70.000% Investor Cash Out 703   XXXX 36.58 $78,205.23 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 21.861%   Alternative QC Complete 10/09/2025
900000116 XXXX XXXX   XXXX Missouri Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.733% Allowed 8.070% Overby +1.663%

This loan is compliant with regulation 1026.35.
    PUD XX/XX/XXXX 90.000% 90.000% Primary Purchase 755   XXXX 8.66 $72,259.18 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  8.231% Yes Alternative QC Complete 10/09/2025
900000117 XXXX XXXX   XXXX California Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 761   XXXX 6.58 $16,672.25 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  42.830% No Full Documentation QC Complete 10/10/2025
900000118 XXXX XXXX   XXXX South Carolina Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 80.000% 80.000% Investor Purchase 754   XXXX 6.25 $12,977.32 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  43.469% No Full Documentation QC Complete 01/02/2026
900000119 XXXX XXXX   XXXX North Carolina Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 85.000% 85.000% Investor Purchase 803         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/09/2025
900000122 XXXX XXXX   XXXX Minnesota Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 70.525% 70.525% Investor Refinance 707   XXXX 3.33 $18,211.79 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  33.165%   Full Documentation QC Complete 10/09/2025
900000995 XXXX XXXX   XXXX Louisiana Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Final 1003 does not has LO sign - EV R
COMMENT:   As per loan file Final & Initial 1003 LO sign is missing .

Resolved: Received 1003 with LO Signature - 08/09
    Single Family XX/XX/XXXX 64.762% 64.762% Primary Cash Out 761 20 XXXX 22.41 $6,726.62 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 23.620%   Alternative QC Complete 08/05/2022
900001000 XXXX XXXX   XXXX Florida Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z

Higher-Priced Mortgage Loan Test: Charged  7.413% Allowed 6.660% Over by +0.753%

This loan is compliant with regulation 1026.35.
    PUD XX/XX/XXXX 80.000% 80.000% Primary Purchase 703   XXXX 3 $5,484.71 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  35.574% Yes Alternative QC Complete 01/02/2026
900001001 XXXX XXXX   XXXX Idaho Non-QM/Compliant 4 2 2 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z

Higher-Priced Mortgage Loan Test: Charged 7.586 % Allowed 6.870% Over by +0.716%.

This loan is compliant with regulation 1026.35.
*** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   The appraisal dated XX/XX/XXXX shows subject property as XXXX. According to guidelines, log home is ineligible property type. Missing exception approval letter with appropriate compensating factors.

A copy of an exception approval letter has been received.
LTV: 46.96% LTV is less than the guideline requirement of 80.00%.

DTI: 38.50% DTI is less than the maximum guideline requirement of 50.00%.
Single Family XX/XX/XXXX 46.964% 46.964% Primary Cash Out 778 5 XXXX 4 $3,933.74 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 38.495%   Alternative QC Complete 01/02/2026
900001002 XXXX XXXX   XXXX Florida Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Title review shows no release for prior mortgage - EV R
COMMENT:   Missing Satisfaction of Mortgage recorded on XX/XX/XXXX for O.R. Book: #XXXX, Page 981 reflecting on the Title report.

Resolved:  Final Title Policy Received on 8/XX/2022 - 8/17

*** (CURED) The Credit LOX is missing - EV R
COMMENT:   Following inquiry reflects on credit report:  XXXX

Resolved: Credit LOX received on 8/XX/2022 - 8/18
    PUD XX/XX/XXXX 44.667% 44.667% Primary Refinance 680 4.16 XXXX 17 $10,979.54 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  36.193%   Alternative QC Complete 08/05/2022
900001005 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 65.000% 65.000% Investor Purchase 695         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 08/05/2022
900001009 XXXX XXXX   XXXX Florida Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Final Application not signed and hand-dated by Loan Originator - EV R
COMMENT:   Final 1003 and initial 1003 LO Signature missing in the application.

Resolved: Received 1003 with LO Signature - 08/09
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 75.000% 75.000% Secondary Purchase 775   XXXX 6.66 $39,080.57 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  48.921% No Alternative QC Complete 08/05/2022
900001016 XXXX XXXX   XXXX Michigan Non-QM/Compliant 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 80.000% 80.000% Primary Purchase 799   XXXX 20.67 $8,170.42 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  49.794% No Full Documentation QC Complete 08/10/2022
Removed from deal XXXX XXXX   XXXX Michigan Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Final 1003 does not has LO sign - EV R
COMMENT:   As per loan package Final & initial 1003 Lo sign missing.

Resolved: Initial & Final 1003 received - 9/12

*** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z

Higher-Priced Mortgage Loan Test: Charged 7.359% Allowed 7.120% Over by +0.239%

This loan is compliant with regulation 1026.35.
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 58.824% 58.824% Primary Purchase 738         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No Alternative QC Complete 01/02/2026
900001020 XXXX XXXX   XXXX Florida Not Covered/Exempt 4 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   As per lending guideline (XXXX (07.07.2022 v22.3) R-JV-DTC.pdf) min FICO score is 720 and max LTV is 70%. As per loan file its FICO score is 704  and LTV is 70%.

Not Resolved: Needed a new exception approval with name & signature - 9/8

A copy of an exception approval letter has been received.- 9/13
Length of Employment: 5 years with the same business exceeds the minimum requirement of 2 years.

Reserves: The 11 months of available reserves are more than the guideline requirement of 6 months.
PUD XX/XX/XXXX 70.000% 70.000% Investor Purchase 704   XXXX 2.08 $17,045.14 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  36.337% No Alternative QC Complete 09/01/2022
900001021 XXXX XXXX   XXXX Florida Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Final 1003 does not has LO sign - EV R
COMMENT:   LO Sign missing in initial 1003.

Resolved: Signed copy of 1003 received on 9/XX/2022

*** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z

Higher-Priced Mortgage Loan Test: Charged 8.785%  Allowed 7.110%  Over by +1.675%

This loan is compliant with regulation 1026.35.
    PUD XX/XX/XXXX 90.000% 90.000% Primary Purchase 745   XXXX 2.83 $14,513.04 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  45.002% No Alternative QC Complete 05/14/2025
900001022 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 62.338% 62.338% Investor Purchase 731   XXXX 11.42 $7,121.03 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  14.308% No Alternative QC Complete 09/15/2022
900001026 XXXX XXXX   XXXX California Non-QM/Compliant 3 2 1 1 2 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV 2
COMMENT:   As Per Preliminary Title Policy Amount of Title insurance  is $XXXX which is  less than mortgage amount of $XXXX. Amount of insurance does not meet loan amount, Required final title policy.

Resolved: 8/XX/2022 - Final Title Policy received.

*** (CURED) ComplianceEase TRID Tolerance Test Failed - EV 2
COMMENT:   TRID Violation due to 10% of Title State required contingence fee, Title electronic recording fee, Title Sub-escrow fee, Title Courier fee, Title Endorsement fee, Title Wire transfer fee and Recording fee increase on Final CD dated 07/XX/2022. Initial LE dated 06/XX/2022 reflects 10% fees totaling $1674.00, however, Final CD dated 07/XX/2022 reflects $2251.00. This is a fee increase of $410‬.10 which exceeds the 10% tolerance.  Please provide either a valid COC or PCCD, LOE, proof of delivery, copy of refund check to cure the tolerance amount of $410.10.

Cured 8/XX/2022 : Received PCCD document and updated, hence condition cleared.
    PUD XX/XX/XXXX 37.222% 37.222% Primary Purchase 816   XXXX 45.42 $9,264.04 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  29.873% No Full Documentation QC Complete 08/04/2022
900001027 XXXX XXXX   XXXX California Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Final 1003 does not has LO sign - EV R
COMMENT:   In final 1003 LO signature missing in the loan package.

Resolved - 1003 Received with LO signature - 08/09

*** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z

Higher-Priced Mortgage Loan Test: Charged 7.030%  Allowed 6.200%  Over by +0.830%

This loan is compliant with regulation 1026.35.

*** (CURED) Misrepresentation of Housing History - EV R
COMMENT:   As per lending guide minimum 2 years housing history is required. However in final 1003 years in current home is mentioned as "0" years for the current property "XXXX" . Needed Corrected 1003 with housing history

Note: Transaction is refinance of primary residence.

Not Resolved : Still needed 1003 with Housing history. As per credit report refinance month reviewer is 35 months however on 1003 no housing history mentioned.

Not Resolved : Still needed 1003 with Housing history. As per credit report refinance month reviewer is 35 months however on 1003 no housing history mentioned. 8/XX/2022

Resolved: LOX received on 08/XX/2022  stating that borrower is moved to current address in 60 days - 08/19

*** (CURED) State Higher Price Mortgage Loan - EV R
COMMENT:   (CA AB 260, California Financial Code Division 1.94995(a)) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the California Financial Code.

CA AB 260 Higher-Priced Mortgage Loan Test: Charged 7.030%  Allowed 6.200%  Over by +0.830%

This loan is compliant with regulation CA AB 260, California Financial Code Division 1.94995(a)
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 43.250% 43.250% Primary Refinance 778 2 XXXX 0.33 $6,149.77 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  32.481%   Full Documentation QC Complete 05/14/2025
900000126 XXXX XXXX   XXXX Georgia Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 65.000% 65.000% Investor Cash Out 746         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 08/12/2025
900000127 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           3 Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 722         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:
Max Days Dlq Last 12 Mos:
Verification Type:
    No DSCR QC Complete 09/11/2025
900000129 XXXX XXXX   XXXX New Jersey Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 56.966% 56.966% Primary Cash Out 739 2 XXXX 7.41 $16,809.13 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 42.108%   Alternative QC Complete 08/12/2025
900000139 XXXX XXXX   XXXX Maryland Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Missing Required Disclosures - EV R
COMMENT:   Provide UDM for borrower (XXXX) as it is required by the guideline.

09/XX/2025: Resolved as per the updated guidelines not require UDM.
    Single Family XX/XX/XXXX 45.276% 45.276% Primary Refinance 770 1.83 XXXX 23.58 $13,511.33 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  38.204%   Full Documentation QC Complete 09/23/2025
900000143 XXXX XXXX   XXXX Michigan Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower (XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    PUD XX/XX/XXXX 80.000% 80.000% Primary Cash Out 725 5 XXXX 7.08 $38,687.07 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 26.562%   Alternative QC Complete 09/17/2025
900000144 XXXX XXXX   XXXX Michigan Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 75.000% 75.000% Investor Purchase 795         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/07/2025
900000150 XXXX XXXX   XXXX Colorado Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 80.000% 80.000% Investor Purchase 723         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/18/2025
900000151 XXXX XXXX   XXXX California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   The amount of title insurance of $XXXX on the Title Commitment is less than the loan amount $XXXX

Resolved 10/XX/2025 - Received Final title policy, condition resolved.

*** (CURED) Title issue - EV R
COMMENT:   The subject transaction closed in the name of a trust; however, the file does not contain an executed and notarized copy of the underwriter and title-approved Trust Certification.

10/XX/2025 Resolved: The copy of Trust cert resolves the condition.
    Single Family XX/XX/XXXX 17.447% 17.447% Primary Cash Out 806 25     $10,583.08 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 17.115%   Alternative QC Complete 10/01/2025
900000152 XXXX XXXX   XXXX Ohio Not Covered/Exempt 1 1 1 1 1 No No           3 Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 753         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/18/2025
900000156 XXXX XXXX   XXXX Georgia Not Covered/Exempt 1 1 1 1 1 No No           2 Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 768         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/14/2025
900000158 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           4 Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 796         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/07/2025
900000159 XXXX XXXX   XXXX Maryland Not Covered/Exempt 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Credit: Housing payment history
Requesting exception to permit $XXXX loan amount for 75% LTV

A copy of an exception approval letter is available in the loan file.
FICO: 772 FICO exceeds the guideline requirement of 720.

DSCR: 1.59 DSCR exceeds the guideline requirement of 1.00.
 
Single Family XX/XX/XXXX 75.000% 75.000% Investor Cash Out 772         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 10/07/2025
900000161 XXXX XXXX   XXXX South Carolina Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 80.000% 80.000% Investor Purchase 790   XXXX 23.33 $23,006.56 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  19.413% No Alternative QC Complete 01/02/2026
900000162 XXXX XXXX   XXXX New Jersey Not Covered/Exempt 1 1 1 1 1 No No           2 Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 763   XXXX 13.75 $18,021.87 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  32.353% No Full Documentation QC Complete 01/02/2026
900000167 XXXX XXXX   XXXX Tennessee Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Final Application Incomplete - EV R
COMMENT:   Provided updated final application with change in intended occupancy for property address "XXXX" from primary residence to investment.


Resolved 09/XX/2025 - Received corrected 1003, condition resolved.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Missing lease agreement for property address XXXX



Resolved 09/XX/2025 - Received Lease agreement for unit 2, condition resolved.
    4 Family XX/XX/XXXX 81.716% 81.716% Investor Purchase 788         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/17/2025
900000168 XXXX XXXX   XXXX California Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 787   XXXX 6.33 $19,353.07 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  40.474% No Alternative QC Complete 10/15/2025
900000171 XXXX XXXX   XXXX Montana Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Missing Initial LE - EV R
COMMENT:   Missing Initial Loan Estimate.

Resolved 10/XX/2025: Received Initial Loan Estimate dated 09/XX/2025 and exception is cleared.
    Single Family XX/XX/XXXX 62.000% 62.000% Primary Purchase 776         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No Alternative QC Complete 10/10/2025
900000175 XXXX XXXX   XXXX New Jersey Not Covered/Exempt 1 1 1 1 1 No No           3 Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 722         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/23/2025
900000176 XXXX XXXX   XXXX Arkansas Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a copy of the evidence wire receipt for the gift amount of $100,000.00, as it is missing.


Resolved 10/XX/2025 - Received wire receipt for $100,000.00, condition resolved.
    PUD XX/XX/XXXX 70.000% 70.000% Investor Purchase 726         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/30/2025
900000177 XXXX XXXX   XXXX California Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Exception to waive 2nd appraisal due to flipping Seller obtained property 4/2025 and contract signed 5/2025

A copy of an exception approval letter is available in the loan file.
DTI: 20.51% DTI is less than the maximum guideline requirement of 50.00%.

LTV: 80.00% LTV is less than the guideline requirement of 90.00%.

FICO: 728 FICO exceeds the guideline requirement of 720.
Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 728   XXXX 1.67 $9,316.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  37.934% No Alternative QC Complete 10/13/2025
900000180 XXXX XXXX   XXXX Ohio Not Covered/Exempt 1 1 1 1 1 No No           4 Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 740         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/16/2025
900000186 XXXX XXXX   XXXX Florida Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 85.000% 85.000% Primary Purchase 777   XXXX 0.25 $14,411.57 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  40.701% No Alternative QC Complete 09/30/2025
900000190 XXXX XXXX   XXXX New York Non-QM/Compliant 3 2 2 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of the UDM (Undisclosed Debt Monitoring) document for borrower XXXX as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
*** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Waive 2nd full appraisal for loan amount >$1.5mil.

A copy of an exception approval letter is available in the loan file.
FICO: 793 FICO exceeds the guideline requirement of 700.

Residual Income: $32,560.94 monthly.

DTI: 33.63% DTI is less than the maximum guideline requirement of 50.00%.
High Rise Condo (>=9 Stories) XX/XX/XXXX 58.660% 58.660% Primary Refinance 793 1.5 XXXX 8.66 $49,056.97 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  33.626%   Alternative QC Complete 09/16/2025
900000195 XXXX XXXX   XXXX Colorado Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 49.524% 49.524% Secondary Cash Out 760   XXXX 16.16 $2,470.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 46.491%   Alternative QC Complete 10/09/2025
900000198 XXXX XXXX   XXXX Pennsylvania Not Covered/Exempt 1 1 1 1 1 No No           3 Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 728         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/09/2025
900000199 XXXX XXXX   XXXX Michigan Not Covered/Exempt 1 1 1 1 1 No No           2 Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 763   XXXX 2.08 $7,111.50 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  39.963% No Full Documentation QC Complete 09/24/2025
900000212 XXXX XXXX   XXXX Arizona Non-QM/Compliant 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 66.667% 66.667% Primary Purchase 800   XXXX 2.66 $3,695.07 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  48.489% No Full Documentation QC Complete 10/13/2025
900000214 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           4 Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 730         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/14/2025
900000216 XXXX XXXX   XXXX Illinois Not Covered/Exempt 1 1 1 1 1 No No           2 Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 750         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/24/2025
900000221 XXXX XXXX   XXXX Texas Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 80.000% 80.000% Investor Purchase 788         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/14/2025
900000225 XXXX XXXX   XXXX Ohio Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 727         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/29/2025
900000226 XXXX XXXX   XXXX Pennsylvania Not Covered/Exempt 1 1 1 1 1 No No           3 Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 730         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/10/2025
900000227 XXXX XXXX   XXXX Connecticut Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 778         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/23/2025
900000230 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 726         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/09/2025
900000231 XXXX XXXX   XXXX California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide updated supplemental report with amount of title insurance covering the loan amount $XXXX


Resolved 10/XX/2025 - Received supplement report, condition resolved.
    Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 747       $20,152.79 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  49.214% No Alternative QC Complete 09/29/2025
900000235 XXXX XXXX   XXXX New York Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Primary Purchase 764   XXXX 4.67 $54,725.68 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  46.131% No Alternative QC Complete 09/26/2025
900000240 XXXX XXXX   XXXX Texas Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.659% Allowed 8.130% Overby +0.529%

This loan is compliant with regulation 1026.35.
    Single Family XX/XX/XXXX 70.000% 70.000% Primary Cash Out 648 16 XXXX 2.58 $9,079.25 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 35.539%   Alternative QC Complete 10/10/2025
900000243 XXXX XXXX   XXXX Virginia Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Investor Cash Out 721         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 10/01/2025
900000250 XXXX XXXX   XXXX Wisconsin Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 736         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/16/2025
900000253 XXXX XXXX   XXXX Kentucky Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 65.000% 65.000% Investor Cash Out 791         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 10/08/2025
900000254 XXXX XXXX   XXXX Texas Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 80.000% 80.000% Primary Purchase 669   XXXX 4.33 $6,709.07 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  44.127% Yes Alternative QC Complete 01/02/2026
900000255 XXXX XXXX   XXXX Tennessee Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide UDM for borrower(XXXX) as it is required by the guideline

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 36.000% 36.000% Primary Refinance 776 0.08 XXXX 2.5 $142,713.76 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  5.903%   Alternative QC Complete 09/16/2025
900000258 XXXX XXXX   XXXX Utah Non-QM/Compliant 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 61.563% 61.563% Primary Purchase 782   XXXX 4.66 $4,418.27 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  42.013% No Full Documentation QC Complete 10/09/2025
900000262 XXXX XXXX   XXXX Texas Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower(XXXX) as it is required by the guideline.


09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 55.000% 55.000% Primary Refinance 727 1.16 XXXX 32.58 $204,218.83 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  9.872%   Alternative QC Complete 09/16/2025
900000267 XXXX XXXX   XXXX New Jersey Non-QM/Compliant 4 2 2 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.609% Allowed 8.130% Overby +0.479%

This loan is compliant with regulation 1026.35.
*** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Borrower is non-permanent resident. Only an EAD provided and shows category C-09

A copy of an exception approval letter is available in the loan file.
FICO: 734 FICO exceeds the guideline requirement of 720.

Reserves: The 55 months of available reserves are more than the guideline requirement of 6 months.
Single Family XX/XX/XXXX 85.000% 85.000% Primary Purchase 734   XXXX 3.25 $11,070.27 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  46.909% Yes Alternative QC Complete 09/29/2025
900000269 XXXX XXXX   XXXX New York Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Primary Purchase 797   XXXX 15.66 $24,904.79 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  48.220% No Alternative QC Complete 09/24/2025
900000270 XXXX XXXX   XXXX Washington Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 80.000% 80.000% Investor Purchase 754   XXXX 17.58 $279,824.51 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  3.816% No Alternative QC Complete 10/08/2025
900000271 XXXX XXXX   XXXX California Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 654   XXXX 7.5 $300,674.97 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  3.549% No Alternative QC Complete 01/02/2026
900000278 XXXX XXXX   XXXX Washington Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of the proof document for the subordinate lien (second mortgage principal and interest) amounting to $3,000.


Resolved 09/XX/2025 - Received LOX as $3000 is removed from the DTI calculation, condition resolved.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower(XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 65.625% 65.625% Primary Purchase 787   XXXX 5 $20,646.86 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  32.614% No Alternative QC Complete 09/12/2025
900000280 XXXX XXXX   XXXX North Carolina Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower (XXXX,) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 66.346% 66.346% Primary Refinance 738 2 XXXX 15.58 $14,837.73 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  44.948%   Alternative QC Complete 09/18/2025
900000286 XXXX XXXX   XXXX Washington Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Single family with 2 ADUs

A copy of an exception approval letter is available in the loan file.
LTV: 56.44% LTV is less than the guideline requirement of 85.00%.

FICO: 711 FICO exceeds the guideline requirement of 700.

DTI: 38.51% DTI is less than the maximum guideline requirement of 50.00%.
Single Family XX/XX/XXXX 56.436% 56.436% Primary Cash Out 711 18 XXXX 7.33 $6,189.17 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 38.510%   Alternative QC Complete 01/02/2026
900000287 XXXX XXXX   XXXX Ohio Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Investor Cash Out 727         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 10/14/2025
900000288 XXXX XXXX   XXXX Colorado Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 80.000% 80.000% Primary Purchase 749   XXXX 10 $44,951.69 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  16.938% No Alternative QC Complete 10/15/2025
900000291 XXXX XXXX   XXXX California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Hazard Insurance Coverage less than Loan Amount - EV R
COMMENT:   Dwelling amount $XXXX is not sufficient to cover loan amount $XXXX. Provide a copy of updated RCE to cover the dwelling amount.


Resolved 09/XX/2025 - Received RCE document, condition resolved.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM report for borrower (XXXX) as it is required by the lender guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 75.000% 75.000% Primary Purchase 741   XXXX 5.5 $15,977.58 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  45.955% Yes Alternative QC Complete 09/11/2025
900000292 XXXX XXXX   XXXX Missouri Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 80.000% 80.000% Investor Purchase 788   XXXX 10.08 $17,416.68 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  47.576% No Full Documentation QC Complete 09/29/2025
900000293 XXXX XXXX   XXXX California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower(XXXX) as it is required by the guideline


09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 80.000% 80.000% Primary Purchase 790   XXXX 0.16 $11,250.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  34.351% Yes Full Documentation QC Complete 09/17/2025
900000296 XXXX XXXX   XXXX California Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 73.621% 73.621% Primary Refinance 787 1.16 XXXX 15.16 $15,123.44 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  47.873%   Alternative QC Complete 09/16/2025
900000299 XXXX XXXX   XXXX Florida Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 43.164% 43.164% Primary Cash Out 736 15.92 XXXX 43.92 $83,859.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 9.723%   Alternative QC Complete 01/02/2026
900000300 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           2 Family XX/XX/XXXX 85.000% 85.000% Investor Purchase 781         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/16/2025
900000301 XXXX XXXX   XXXX Washington Non-QM/Compliant 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 51.563% 51.563% Primary Purchase 776   XXXX 1 $6,704.70 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  39.431% No Full Documentation QC Complete 10/06/2025
900000303 XXXX XXXX   XXXX New Jersey Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   First time homebuyer living rent free for 4 years as borrower lives rent free at subject property.

A copy of an exception approval letter is available in the loan file.
FICO: 797 FICO exceeds the guideline requirement of 780.

LTV: 66.67% LTV is less than the guideline requirement of 70.00%.

Low Rise Condo  (1-4 Stories) XX/XX/XXXX 66.667% 66.667% Primary Purchase 797         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No Alternative QC Complete 01/02/2026
900000304 XXXX XXXX   XXXX Idaho Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 760         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/15/2025
900000305 XXXX XXXX   XXXX Hawaii Non-QM/Compliant 1 1 1 1 1 No No           Mid Rise Condo  (5-8 Stories) XX/XX/XXXX 80.000% 80.000% Secondary Purchase 793   XXXX 4.91 $27,410.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  42.519% No Full Documentation QC Complete 10/09/2025
900000309 XXXX XXXX   XXXX California Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 75.000% 75.000% Secondary Cash Out 747   XXXX 11.33 $547,712.06 Mos Reviewed:24
Times 1X30:1
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 4.602%   Alternative QC Complete 01/02/2026
900000310 XXXX XXXX   XXXX Massachusetts Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower (XXXX) as it is required by the guideline

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 67.032% 67.032% Primary Refinance 806 2 XXXX 8.05 $13,536.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  38.598%   Alternative QC Complete 09/17/2025
900000318 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           High Rise Condo (>=9 Stories) XX/XX/XXXX 80.000% 80.000% Investor Purchase 801         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/16/2025
900000327 XXXX XXXX   XXXX Georgia Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 55.333% 55.333% Primary Purchase 801       $10,339.97 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  22.418% No Alternative QC Complete 09/30/2025
900000334 XXXX XXXX   XXXX California Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide a copy of the title supplement report to cover the loan amount, The amount of title insurance $XXXX does not cover the loan amount $XXXX.


Resolved 10/XX/2025 - Received Supplement report, condition resolved.
    Single Family XX/XX/XXXX 79.487% 79.487% Investor Refinance 808       $21,934.51 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  44.785%   Alternative QC Complete 09/26/2025
900000342 XXXX XXXX   XXXX Pennsylvania Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   The lease agreement on file for XXXX expired on 05/XX/2025. Provide a valid, un expired version.


Resolved 10/XX/2025 - Received LOE stating the tenant completed one full year in rent and now moved to month to month lease, condition resolved.
    Single Family XX/XX/XXXX 61.397% 61.397% Investor Cash Out 728         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 09/29/2025
900000343 XXXX XXXX   XXXX Florida Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.753% Allowed 8.040% Overby +0.713%.

This loan is compliant with regulation 1026.35

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide proof of Installment account Affirm in the amount of $816.00.


Resolved 10/XX/2025 - Received Client LOX as " several payments to affirm were found on the bank statement. It is acceptable to add to DTI when found on the bank statement and nothing else is needed, condition resolved.
    PUD XX/XX/XXXX 90.000% 90.000% Primary Purchase 720   XXXX 5.66 $32,835.68 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  31.807% No Alternative QC Complete 09/29/2025
900000346 XXXX XXXX   XXXX California Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 796   XXXX 36.66 $41,468.22 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  22.899% No Alternative QC Complete 09/29/2025
900000347 XXXX XXXX   XXXX Louisiana Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of CPA letter with expense ratio.


Resolved 09/XX/2025 - Received CPA letter, condition resolved.
    PUD XX/XX/XXXX 80.000% 80.000% Primary Purchase 759   XXXX 2.5 $13,844.63 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent
  29.197% Yes Alternative QC Complete 09/17/2025
900000353 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 792         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    Yes DSCR QC Complete 10/15/2025
900000365 XXXX XXXX   XXXX Oregon Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 55.504% 55.504% Investor Refinance 756         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
      DSCR QC Complete 09/23/2025
900000376 XXXX XXXX   XXXX Massachusetts Not Covered/Exempt 1 1 1 1 1 No No           2 Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 726         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/09/2025
900000385 XXXX XXXX   XXXX New York Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Hazard Insurance Coverage less than Loan Amount - EV R
COMMENT:   Provide master policy with borrower name and unit number.


Resolved 10/XX/2025 - Property is 2-4 family, condition resolved.

*** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Missing condo questionnaire.


Resolved 10/XX/2025 - Received LOX as condo questionnaire is not required for 3 units property, condition resolved.
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 75.000% 75.000% Investor Purchase 738   XXXX 40 $34,287.24 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  36.838% No Alternative QC Complete 09/30/2025
900000388 XXXX XXXX   XXXX New York Not Covered/Exempt 1 1 1 1 1 No No           2 Family XX/XX/XXXX 61.364% 61.364% Investor Cash Out 740         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 09/29/2025
900000392 XXXX XXXX   XXXX California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   The amount $XXXX of preliminary title insurance is not covering the loan amount $XXXX. Provide a copy of supplemental title insurance which covers the loan amount.


Resolved 09/XX/2025 - Received title short form policy, condition resolved.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a copy of the UDM (Undisclosed Debt Monitoring) document for borrower (XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    PUD XX/XX/XXXX 70.000% 70.000% Primary Cash Out 712 14 XXXX 14.83 $43,151.15 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 11.970%   Alternative QC Complete 09/16/2025
900000394 XXXX XXXX   XXXX Texas Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 64.072% 64.072% Primary Purchase 787   XXXX 19.66 $38,125.17 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  26.422% No Alternative QC Complete 10/10/2025
900000414 XXXX XXXX   XXXX Ohio Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower(XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 80.000% 80.000% Investor Purchase 797   XXXX 2.83 $12,745.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  21.081% No Full Documentation QC Complete 09/16/2025
900000417 XXXX XXXX   XXXX Indiana Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   The amount of proposed Lender's coverage on the Title Commitment is less than the loan amount. The document reflects coverage in the amount of $XXXX, however, the Note reflects a loan amount of $XXXX


Resolved 09/XX/2025 - Received title short form policy, condition resolved.
    Single Family XX/XX/XXXX 75.000% 75.000% Investor Cash Out 727         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 09/12/2025
900000425 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 75.000% 75.000% Investor Purchase 754   XXXX 13.58 $9,839.96 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  49.634% No Full Documentation QC Complete 10/10/2025
900000427 XXXX XXXX   XXXX Ohio Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 54.217% 54.217% Primary Refinance 799 1 XXXX 3.33 $9,547.21 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  20.149%   Alternative QC Complete 10/10/2025
900000431 XXXX XXXX   XXXX Louisiana Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Borrower Identity Missing - EV R
COMMENT:   Provide a legible copy of Govt identity proof as it is missing.


Resolved 06/XX/2025 - Received GOV ID, condition resolved.

*** (CURED) Missing Required Disclosures - EV R
COMMENT:   Provide a copy of E&O insurance policy as it is missing.


Resolved 06/XX/2025 - Received Appraisal report with E&O Policy, condition resolved.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   1003 Correction required for primary residence XXXX address reflecting investment in REO section.


Resolved 06/XX/2025 - Received Corrected 1003 application, condition resolved.
    Single Family XX/XX/XXXX 74.848% 74.848% Investor Cash Out 763         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 06/09/2025
900000434 XXXX XXXX   XXXX Tennessee Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 80.000% 80.000% Primary Purchase 786   XXXX 14.25 $90,018.78 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  20.580% No Alternative QC Complete 09/17/2025
900000436 XXXX XXXX   XXXX Texas Non-QM/Compliant 4 2 2 1 1 No No     *** (CURED) Intent to Proceed Missing  - EV R
COMMENT:   Missing Intent to Proceed.

Resolved 09/XX/2025: Received Intent to Proceed dated 07/XX/2025 and exception is cleared.

*** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide UDM for borrower(XXXX) as it is required by the guideline.
Gap report present in file dated 07/XX/2025 before closing date 08/XX/2025



Resolved 09/XX/2025 - UDM Report is not required from client, condition resolved.
*** (WAIVED) Cash Out Amount Exceeds Guidelines - EV W
COMMENT:   The cash-out amount for the subject property is $XXXX, which exceeds the maximum allowable cash-out limit of $500,000 for loans with an LTV greater than 60%. The current LTV is 63.29%.


A copy of an exception approval letter has been received.

*** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   11 NSFs vs permitted 6- The borrower owns a construction company that requires projects to meet their deadlines. Outstanding accounts receivables are paid personally by the borrower if the client does not pay their invoices on time. These big companies that work with him will pay him back but they do take time so he takes it upon himself to complete the projects in a timely manner, ensuring his credibility.


A copy of an exception approval letter is available in the loan file.
LTV: 63.28% is lower than the maximum guideline requirement of 80.00%.

DTI: 24.34& is lower than the maximum guideline requirement of 50.00%.

Reserves: 71 months of available reserves are more than the guideline requirement of 6 months.

DTI: 24.34% DTI is less than the maximum guideline requirement of 50.00%.

LTV: 63.29% LTV is less than the guideline requirement of 75.00%.

FICO: 690 FICO exceeds the guideline requirement of 680.


PUD XX/XX/XXXX 63.288% 63.288% Primary Cash Out 690 11.08 XXXX 6.25 $64,829.29 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 24.336%   Alternative QC Complete 09/12/2025
900000442 XXXX XXXX   XXXX Missouri Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 85.000% 85.000% Investor Refinance 748         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
      DSCR QC Complete 10/01/2025
900000443 XXXX XXXX   XXXX Michigan Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Credit history does not meet guidelines - EV R
COMMENT:   Provide a rent-free letter signed by the borrower and their relative.


Resolved 10/XX/2025 - Received LOX as " a rent-free letter from the borrowers relative is not required as the borrower is not a first time home buyer", condition resolved.
    Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 669   XXXX 9.91 $20,716.19 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  17.843% No Alternative QC Complete 09/30/2025
900000445 XXXX XXXX   XXXX Georgia Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of the UDM (Undisclosed Debt Monitoring) document for borrower (XXXX) as it is required by the guideline.


09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    PUD XX/XX/XXXX 80.000% 80.000% Primary Purchase 688   XXXX 23.5 $29,558.81 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  27.854% No Alternative QC Complete 09/17/2025
900000450 XXXX XXXX   XXXX Wisconsin Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 73.385% 73.385% Primary Refinance 755 1.66 XXXX 4.66 $4,778.94 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  23.926%   Alternative QC Complete 10/15/2025
900000451 XXXX XXXX   XXXX South Carolina Non-QM/Compliant 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 75.000% 75.000% Primary Purchase 812   XXXX 30.58 $11,984.12 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  11.119% Yes Full Documentation QC Complete 10/10/2025
900000454 XXXX XXXX   XXXX Colorado Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide supporting documents for cash gift $200,000 as it is missing.


Resolved 10/XX/2025 - Received LOX as " the gift ended up only being $50,000 and it is updated in system " however sufficient assets are available to cover the requirements, condition resolved.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a copy of mortgage statement for the "XXXX" property as it is missing.


Resolved 10/XX/2025 - Received credit report with payment and the data verify report with property address, condition resolved.
    PUD XX/XX/XXXX 70.000% 70.000% Investor Purchase 724         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/30/2025
900000455 XXXX XXXX   XXXX New Jersey Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 85.000% 85.000% Investor Purchase 773   XXXX 4 $54,943.91 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  13.714% No Alternative QC Complete 10/01/2025
900000458 XXXX XXXX   XXXX Rhode Island Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 807         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/08/2025
900000460 XXXX XXXX   XXXX Florida Not Covered/Exempt 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   20% Non-incidental Income on a condotel


A copy of an exception approval letter is available in the loan file.
Reserves: The 9 months of available reserves are more than the guideline requirement of 3 months.

FICO: 809 FICO exceeds the guideline requirement of 700.

LTV: 80% LTV is less than the guideline requirement of 85.00%.
High Rise Condo (>=9 Stories) XX/XX/XXXX 80.000% 80.000% Investor Purchase 809   XXXX 2.41 $21,468.74 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  37.420% No Full Documentation QC Complete 10/10/2025
900000461 XXXX XXXX   XXXX Massachusetts Not Covered/Exempt 1 1 1 1 1 No No           3 Family XX/XX/XXXX 75.000% 75.000% Investor Cash Out 792         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 09/30/2025
900000462 XXXX XXXX   XXXX California Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Investor Cash Out 749   XXXX 7.58 $116,420.47 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 14.389%   Alternative QC Complete 10/15/2025
900000469 XXXX XXXX   XXXX California Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 85.000% 85.000% Primary Refinance 787 0.92 XXXX 2.42 $16,774.88 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  49.199%   Alternative QC Complete 10/01/2025
900000472 XXXX XXXX   XXXX Washington Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 70.000% 70.000% Investor Purchase 771         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/16/2025
900000473 XXXX XXXX   XXXX Ohio Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1)  Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z  Higher-Priced Mortgage Loan Test: Charged 8.646% Allowed 7.820%  Overby +0.826%  This loan is compliant with regulation 1026.35.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Missing proof for (tax, insurance, or HOA fee) for REO property address XXXX in the amount of $650.00.

Resolved 10/XX/2025 - Property was included to show the borrower was not a first time homebuyer however the property is owned through her business as per tax bill in file and borrower is not personally obligated on debt. LOX provided condition resolved.
    PUD XX/XX/XXXX 90.000% 90.000% Primary Purchase 752   XXXX 2.66 $24,297.90 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  27.654% No Alternative QC Complete 10/07/2025
900000476 XXXX XXXX   XXXX New York Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Secondary Purchase 800   XXXX 28.58 $325,956.60 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  6.877% No Alternative QC Complete 09/25/2025
900000477 XXXX XXXX   XXXX Oregon Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Missing Required Disclosures - EV R
COMMENT:   Provide a copy of UDM report as it is missing

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    PUD XX/XX/XXXX 36.842% 36.842% Primary Cash Out 783 3.58       Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     Alternative QC Complete 09/16/2025
900000482 XXXX XXXX   XXXX Florida Non-QM/Compliant 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 80.000% 80.000% Primary Purchase 739   XXXX 2.92 $7,748.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  37.094% Yes Full Documentation QC Complete 10/07/2025
900000486 XXXX XXXX   XXXX California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of the UDM (Undisclosed Debt Monitoring) document for borrower (XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 72.093% 72.093% Primary Purchase 721   XXXX 1.25 $17,754.07 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  40.286% No Full Documentation QC Complete 09/23/2025
900000488 XXXX XXXX   XXXX Georgia Non-QM/Compliant 3 2 2 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower (XXXX) as it is required by the guideline.


09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
*** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Non Perm resident alien category C-09P vs reviewed on a file by file basis


A copy of an exception approval letter is available in the loan file.
FICO: 722 FICO exceeds the guideline requirement of 700.

LTV: 80.00% LTV is less than the guideline requirement of 85.00%.

DTI: 21.17% DTI is less than the maximum guideline requirement of 50.00%.


PUD XX/XX/XXXX 80.000% 80.000% Primary Purchase 722   XXXX 2.33 $35,747.94 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  21.160% Yes Alternative QC Complete 09/23/2025
900000490 XXXX XXXX   XXXX New Jersey Not Covered/Exempt 1 1 1 1 1 No No           2 Family XX/XX/XXXX 75.000% 75.000% Investor Cash Out 771         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 10/13/2025
900000491 XXXX XXXX   XXXX Maryland Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 743         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/23/2025
900000494 XXXX XXXX   XXXX Massachusetts Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z

Higher-Priced Mortgage Loan Test: Charged 7.895%  Allowed 7.700% Over by +0.195%

This loan is compliant with regulation 1026.35.

*** (CURED) Missing Initial Closing Disclosure - EV R
COMMENT:   Loan file is missing initial closing disclosure. Require initial closing disclosure and all applicable COC.

Resolved 09/XX/2022 : Received Initial Closing Disclosure dated XX/XX/XXXX  and updated, hence condition cleared.

*** (CURED) Missing Required Disclosures - EV R
COMMENT:   Provide a copy of 'Loan Score Card' for pass details of Borrower 1 (XXXX) .

Resolved: Loan Score card received - 9/15

*** (CURED) State Higher Price Mortgage Loan - EV R
COMMENT:   MA 209 CMR 32.35, Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in the Code of Massachusetts Regulations.

MA 209 CMR 32.35 Higher-Priced Mortgage Loan Test: Charged 7.895% Allowed 6.700% Over by +1.195%

This loan is compliant with regulation MA 209 CMR 32.35.

*** (CURED) 10% Tolerance Fees test fail - EV R
COMMENT:   TRID Violation due to 10% of Title & Insurance Services increased $29.20 on Post Closing CD dated XX/XX/XXXX.  Initial LE dated 07/XX/2022 reflects totaling $3,818.00, however Post Close CD dated XX/XX/XXXX reflects $4,229.00. Need a LOE, proof of delivery, and copy of the refund check to cure the tolerance amount of $29.20.

Below are the fees which changed from Initial LE to PCCD
1) Survey Fee : $0.00 to $150.00
2) Title Document preparation Fee : $0.00 to $400.00
3) Recording Fee : $443.00 to $479.00

Resolved 09/XX/2022 : Received COC document and updated, hence condition cleared.
    Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 793   XXXX 25.92 $56,536.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  25.647% No Alternative QC Complete 01/02/2026
900000496 XXXX XXXX   XXXX California Not Covered/Exempt 1 1 1 1 1 No No           3 Family XX/XX/XXXX 75.000% 75.000% Investor Cash Out 806         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 09/29/2025
900000506 XXXX XXXX   XXXX Washington Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 65.000% 65.000% Investor Purchase 792         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/29/2025
900000511 XXXX XXXX   XXXX Florida Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Missing Required Disclosures - EV R
COMMENT:   Provide UDM for borrower (XXXX) as it is required by the guideline

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 90.000% 90.000% Primary Purchase 750   XXXX 11.33 $58,066.40 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  14.625% Yes Alternative QC Complete 09/17/2025
900000512 XXXX XXXX   XXXX California Not Covered/Exempt 1 1 1 1 1 No No           4 Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 750         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/15/2025
900000514 XXXX XXXX   XXXX New Hampshire Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 65.000% 65.000% Investor Cash Out 799         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 10/14/2025
900000516 XXXX XXXX   XXXX Arizona Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 74.805% 74.805% Investor Refinance 759         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
      DSCR QC Complete 09/29/2025
900000517 XXXX XXXX   XXXX Arizona Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 78.420% 78.420% Investor Refinance 724         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
      DSCR QC Complete 10/16/2025
900000521 XXXX XXXX   XXXX New Jersey Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Borrower Identity Missing - EV R
COMMENT:   Provide a copy of government ID for the borrower (XXXX) as it is missing.


Resolved 10/XX/2025 - Received GOV ID, condition resolved.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a copy of lease agreement for the subject property as it is missing.


Resolved 09/XX/2025 - Received lease agreement for subject property, condition resolved.
    3 Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 750         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Verification of Rent
    Yes DSCR QC Complete 09/25/2025
900000525 XXXX XXXX   XXXX Florida Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of Tax certificate.


Resolved 10/XX/2025 - Received tax information form, condition resolved.
    Single Family XX/XX/XXXX 75.000% 75.000% Primary Purchase 722       $29,969.18 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  28.045% No Alternative QC Complete 09/30/2025
900000526 XXXX XXXX   XXXX Alaska Not Covered/Exempt 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Property Eligibility for XXXX.

A copy of an exception approval letter is available in the loan file.
DSCR: 1.66 DSCR exceeds the guideline requirement of 1.00.

FICO: 791 FICO exceeds the guideline requirement of 660.

Reserves: The 113 months of available reserves are more than the guideline requirement of 6 months.
Single Family XX/XX/XXXX 71.084% 71.084% Investor Purchase 791         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/14/2025
900000530 XXXX XXXX   XXXX Florida Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 63.846% 63.846% Primary Refinance 663 3.33 XXXX 4.5 $12,057.33 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  42.645%   Alternative QC Complete 10/01/2025
900000532 XXXX XXXX   XXXX Texas Non-QM/Compliant 3 2 2 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide VOR to verify recent 12 months payment history for borrower current residence (XXXX) with rent $1,536.00.


Resolved 10/XX/2025 - Received VOR proof, condition resolved.
*** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   An exception using 75% of company assets for reserves instead of 100%


A copy of an exception approval letter is available in the loan file.
FICO: 752 FICO exceeds the guideline requirement of 700.

Residual Income: $5,573.97 monthly.

DTI: 43.95% DTI is less than the maximum guideline requirement of 50.00%.
Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 752   XXXX 5.58 $5,573.97 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  43.949% Yes Alternative QC Complete 09/29/2025
900000534 XXXX XXXX   XXXX California Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Requesting exception for FTHB with loan amount $XXXX vs max XXXX.

A copy of an exception approval letter is available in the loan file.
FICO: 785 FICO exceeds the guideline requirement of 740.

DTI: 6.59% DTI is less than the maximum guideline requirement of 50.00%.

Reserves: The 41 months of available reserves are more than the guideline requirement of 9 months.
PUD XX/XX/XXXX 70.000% 70.000% Primary Purchase 785   XXXX 27.08 $393,621.39 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  6.591% Yes Alternative QC Complete 01/02/2026
900000537 XXXX XXXX   XXXX Oregon Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Investor Cash Out 723         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 09/25/2025
900000538 XXXX XXXX   XXXX Missouri Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 85.000% 85.000% Investor Purchase 793         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/24/2025
900000545 XXXX XXXX   XXXX Tennessee Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.157% Allowed 7.720% Overby +0.437%

This loan is compliant with regulation 1026.35.
    PUD XX/XX/XXXX 80.000% 80.000% Primary Purchase 663   XXXX 5.66 $28,265.74 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  44.038% No Alternative QC Complete 10/09/2025
900000552 XXXX XXXX   XXXX Arizona Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower(XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    PUD XX/XX/XXXX 79.739% 79.739% Secondary Cash Out 775   XXXX 11 $48,271.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 30.010%   Alternative QC Complete 09/09/2025
900000561 XXXX XXXX   XXXX Oregon Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 70.000% 70.000% Investor Purchase 783   XXXX 39.16 $20,731.60 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  30.674% No Full Documentation QC Complete 01/02/2026
900000562 XXXX XXXX   XXXX North Carolina Non-QM/Compliant 4 2 2 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide a copy of supplementary report to cover the cover the loan amount $XXXX.


Resolved 07/XX/2025 - Received title report with insured amount, condition resolved.

*** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 9.171% Allowed 8.370% Overby +0.801%.

This loan is compliant with regulation 1026.35.
*** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   The borrower has been living rent-free for 5 years, which exceeds the guidelines for 12-month limit for first-time homebuyers (FTHB).

A copy of an exception approval letter is available in the loan file.
FICO: 725 FICO exceeds the guideline requirement of 700.

Residual Income: $62,234.51 monthly.

DTI: 6.88% DTI is less than the maximum guideline requirement of 50.00%.
4 Family XX/XX/XXXX 90.000% 90.000% Primary Purchase 725   XXXX 5 $66,832.76 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  6.143% Yes Alternative QC Complete 06/17/2025
900000569 XXXX XXXX   XXXX New Jersey Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Gift source ($16,000.00) is missing in the file (require donor statement or wiring details, and borrower statement where gift fund was received).


Resolved 09/XX/2025 - Received gift wire, condition resolved.
    Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 753   XXXX 8.5 $37,223.69 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  48.782% No Alternative QC Complete 09/24/2025
900000571 XXXX XXXX   XXXX Texas Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 70.000% 70.000% Investor Cash Out 770         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 09/30/2025
900000572 XXXX XXXX   XXXX New York Non-QM/Compliant 1 1 1 1 1 No No           3 Family XX/XX/XXXX 70.000% 70.000% Primary Purchase 787   XXXX 2.58 $75,464.05 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  12.470% Yes Alternative QC Complete 01/02/2026
900000573 XXXX XXXX   XXXX Michigan Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 799         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/07/2025
900000577 XXXX XXXX   XXXX Georgia Not Covered/Exempt 1 1 1 1 1 No No           2 Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 736         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/13/2025
900000579 XXXX XXXX   XXXX Colorado Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Missing Required Disclosures - EV R
COMMENT:   XXXX card missing in the package ,provide a copy of XXXX card.

Resolved: XXXX received - 9/13
    Single Family XX/XX/XXXX 47.097% 47.097% Primary Refinance 740 20.25 XXXX 22.58 $31,793.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  22.211%   Alternative QC Complete 09/09/2022
900000583 XXXX XXXX   XXXX California Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 70.000% 70.000% Primary Purchase 794   XXXX 9 $123,856.75 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  26.153% No Alternative QC Complete 01/02/2026
900000588 XXXX XXXX   XXXX Virginia Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of the UDM (Undisclosed Debt Monitoring) document for borrower (XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 55.706% 55.706% Primary Refinance 795 2.83 XXXX 43.5 $7,329.04 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  21.251%   Alternative QC Complete 09/09/2025
900000590 XXXX XXXX   XXXX Tennessee Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 752         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/16/2025
900000591 XXXX XXXX   XXXX Texas Not Covered/Exempt 1 1 1 1 1 No No           3 Family XX/XX/XXXX 69.202% 69.202% Investor Refinance 705         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
      DSCR QC Complete 09/17/2025
900000592 XXXX XXXX   XXXX South Carolina Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Investor Cash Out 749         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 10/08/2025
900000593 XXXX XXXX   XXXX Texas Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower (XXXX) as it is required by the guideline

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 80.000% 80.000% Primary Cash Out 704 1.25 XXXX 5.5 $64,493.92 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 32.808%   Alternative QC Complete 09/18/2025
900000595 XXXX XXXX   XXXX Nevada Non-QM/Compliant 3 2 2 1 1 No No     *** (CURED) ComplianceEase TRID Tolerance Test is Incomplete - EV R
COMMENT:   Missing Initial Closing Disclosure.

Not Resolved 09/XX/2025: Received revised Closing disclosure dated XX/XX/XXXX, instead of Initial Closing disclosure. XX/XX/XXXX revised closing disclosure already available in loan package and updated.


Not Resolved 10/XX/2025: Received revised Closing disclosure dated XX/XX/XXXX, instead of Initial Closing disclosure. XX/XX/XXXX revised closing disclosure already available in loan package and updated.

Resolved 10/XX/2025: Received LOE for Initial Closing Disclosure dated XX/XX/XXXX and exception is cleared.
*** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Exception to permit FICO 716 vs minimum 740.

A copy of an exception approval letter is available in the loan file.
DTI: 27.90% DTI is less than the maximum guideline requirement of 50.00%.

LTV: 66.52% LTV is less than the guideline requirement of 70.00%.

Residual Income: $82,039.38 monthly.









PUD XX/XX/XXXX 66.524% 66.524% Primary Refinance 716 0.42 XXXX 3.58 $113,788.56 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  27.902%   Alternative QC Complete 09/12/2025
900000597 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 732         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/23/2025
900000598 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 80.000% 80.000% Investor Purchase 756         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/13/2025
900000599 XXXX XXXX   XXXX California Non-QM/Compliant 4 2 2 1 1 No No       *** (WAIVED) Cash Out Amount Exceeds Guidelines - EV W
COMMENT:   Maximum cash out allowed by guideline is $500,000.00. Cash to borrower as per final CD reflecting $XXXX.


A copy of an exception approval letter has been received.

*** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Loan amount $XXXX exceeding the guideline maximum loan amount $XXX.

A copy of an exception approval letter is available in the loan file.
DTI: 17.14% is lower than the maximum guideline requirement of 50.00%.

Reserves: 31 months of available reserves are more than the guideline requirement of 12 months.

FICO: 781 exceeds the minimum FICO requirement of 780.

Credit score: Borrower FICO 780 exceeds guideline minium FICO 720.

DTI : Borrower DTI 35% is less than maximum guideline DTI 50%.

Reserves: Borrower has surplus reserves of $500,000.00.



Single Family XX/XX/XXXX 69.697% 69.697% Primary Cash Out 781 23 XXXX 2.33 $80,637.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 14.237%   Alternative QC Complete 09/24/2025
900000602 XXXX XXXX   XXXX Georgia Non-QM/Compliant 3 2 2 1 1 No No     *** (CURED) Purchase Contract - EV R
COMMENT:   Missing Purchase contract with sale price of $XXXX

Resolved 09/XX/2025 - Received updated purchase contract, condition resolved.
*** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   80% LTV for $XXXX vs max 75% LTV for $XXXX per guidelines

A copy of an exception approval letter is available in the loan file.
FICO: 806 FICO exceeds the guideline requirement of 740.

DTI: 2.18% DTI is less than the maximum guideline requirement of 50.00%.
High Rise Condo (>=9 Stories) XX/XX/XXXX 80.000% 80.000% Primary Purchase 806   XXXX 8.41 $1,504,336.59 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  2.182% No Alternative QC Complete 01/02/2026
900000603 XXXX XXXX   XXXX Colorado Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 69.625% 69.625% Primary Cash Out 792 0.33 XXXX 6 $19,893.34 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 43.165%   Full Documentation QC Complete 09/25/2025
900000604 XXXX XXXX   XXXX California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Preliminary title does not reflect the amount of $xx title insured coverage amount. provide a copy of the supplemental report.


Resolved 10/XX/2025 - Received updated supplemental report, condition resolved.
    PUD XX/XX/XXXX 80.000% 80.000% Primary Cash Out 744 17 XXXX 33.25 $10,083.60 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 49.884%   Alternative QC Complete 10/08/2025
900000608 XXXX XXXX   XXXX New York Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide UDM for borrower(XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 41.221% 41.221% Primary Cash Out 685 20.08 XXXX 30.5 $19,718.91 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 44.678%   Alternative QC Complete 09/23/2025
900000613 XXXX XXXX   XXXX Michigan Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 704   XXXX 9 $18,308.60 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  45.631% No Alternative QC Complete 09/29/2025
900000614 XXXX XXXX   XXXX Hawaii Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Loan does not conform to program guidelines - EV R
COMMENT:   The guidelines specify a maximum land area of 20 acres. However, the subject property in the loan file has a land area of XXXX acres, which exceeds the allowable limit and does not meet eligibility requirements.


Resolved 10/XX/2025 - Received lender response as " These are town houses and the total project is XXXX acres and it's XXXX units per acre, condition resolved.
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 72.727% 72.727% Secondary Purchase 770         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No Alternative QC Complete 10/08/2025
900000616 XXXX XXXX   XXXX New Jersey Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 70.000% 70.000% Investor Purchase 722         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/26/2025
900000619 XXXX XXXX   XXXX Minnesota Not Covered/Exempt 1 1 1 1 1 No No           3 Family XX/XX/XXXX 85.000% 85.000% Investor Purchase 784   XXXX 10.16 $12,843.83 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  37.913% No Full Documentation QC Complete 09/30/2025
900000624 XXXX XXXX   XXXX Georgia Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a copy of Bank statement #XXXX XXXX of the month September 2024.


Resolved 09/XX/2025 - Received bank statement for September month, condition resolved.
    Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 732   XXXX 6.67 $46,947.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  28.974% No Alternative QC Complete 09/24/2025
900000626 XXXX XXXX   XXXX California Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 80.000% 80.000% Secondary Purchase 788   XXXX 10 $71,513.27 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  14.068% No Full Documentation QC Complete 09/29/2025
900000636 XXXX XXXX   XXXX Michigan Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a copy of the UDM (Undisclosed Debt Monitoring) document for borrower (XXXX) as it is required by the guideline.

Gap report present in file dated 08/XX/2025 before closing date XX/XX/XXXX

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 756   XXXX 7.5 $87,570.78 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  10.624% No Alternative QC Complete 09/18/2025
900000640 XXXX XXXX   XXXX Oregon Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 793         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/25/2025
900000641 XXXX XXXX   XXXX Texas Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Appraisal incomplete (missing map, layout, pages, etc) - EV R
COMMENT:   Occupant marked as owner on the appraisal report, transaction type is purchase investment. Provide an updated appraisal with occupant status as vacant or tenant.

 
Resolved 10/XX/2025 - Received LOX " The appraiser reiterated the property was owner occupied at the time of their inspection and advised a revision was not required", condition resolved.
    PUD XX/XX/XXXX 85.000% 85.000% Investor Purchase 737         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/24/2025
900000642 XXXX XXXX   XXXX California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide updated supplemental report with amount of title insurance covering the loan amount $XXXX


Resolved 10/XX/2025 - Received updated supplemental report, condition resolved.
    2 Family XX/XX/XXXX 49.125% 49.125% Primary Refinance 775 22.33     $0.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  49.980%   Full Documentation QC Complete 10/08/2025
900000644 XXXX XXXX   XXXX Colorado Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 50.820% 50.820% Secondary Purchase 793         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No Full Documentation QC Complete 10/01/2025
900000650 XXXX XXXX   XXXX Washington Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Permit a non-occupant borrower for a 2 unit primary rate/term refinance

A copy of an exception approval letter is available in the loan file.
DTI: 16.42% DTI is less than the maximum guideline requirement of 50.00%.

LTV: 40.80% LTV is less than the guideline requirement of 70.00%.

Residual Income : $36,273.32 monthly.
PUD XX/XX/XXXX 80.000% 80.000% Primary Purchase 734   XXXX 6.25 $62,020.02 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  36.955% No Alternative QC Complete 01/02/2026
900000663 XXXX XXXX   XXXX Maryland Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 85.000% 85.000% Investor Purchase 795         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/29/2025
900000666 XXXX XXXX   XXXX Arizona Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide Real estate appraisers error and omissions insurance policy, as it is missing.


Resolved 06/XX/2025 - Received E&O Policy, condition resolved.
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 80.000% 80.000% Primary Purchase 775   XXXX 13 $20,323.19 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  37.056% No Alternative QC Complete 06/10/2025
900000667 XXXX XXXX   XXXX North Carolina Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a copy of the UDM (Undisclosed Debt Monitoring) document for borrower (XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 707   XXXX 2.33 $23,379.38 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  18.298% No Alternative QC Complete 09/17/2025
900000669 XXXX XXXX   XXXX New Jersey Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 60.000% 60.000% Investor Purchase 764         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/18/2025
900000672 XXXX XXXX   XXXX Texas Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 74.948% 74.948% Investor Purchase 773   XXXX 6.66 $16,995.93 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  38.012% No Alternative QC Complete 10/13/2025
900000673 XXXX XXXX   XXXX Texas Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Missing Appraisal - EV R
COMMENT:   Provide a copy of Appraisal Report.


Resolved 10/XX/2025 - Received Appraisal report, condition resolved.
    Mid Rise Condo  (5-8 Stories) XX/XX/XXXX 80.000% 80.000% Primary Purchase 753   XXXX 12 $26,398.99 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  43.467% Yes Alternative QC Complete 10/07/2025
900000683 XXXX XXXX   XXXX Colorado Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 754         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/16/2025
900000686 XXXX XXXX   XXXX Florida Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Missing Required Disclosures - EV R
COMMENT:   Provide a copy of the UDM (Undisclosed Debt Monitoring) document for borrower (XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 75.000% 75.000% Primary Purchase 742   XXXX 7.42 $7,513.94 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  37.207% No Full Documentation QC Complete 09/09/2025
900000687 XXXX XXXX   XXXX Ohio Non-QM/Compliant 1 1 1 1 1 No No           High Rise Condo (>=9 Stories) XX/XX/XXXX 75.000% 75.000% Primary Purchase 739         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No Alternative QC Complete 10/07/2025
900000692 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           2 Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 737         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/15/2025
900000693 XXXX XXXX   XXXX North Carolina Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 74.963% 74.963% Investor Refinance 741         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
      DSCR QC Complete 10/15/2025
900000702 XXXX XXXX   XXXX Louisiana Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide E&O (Error & Omission ) policy as it is missing.


Resolved 06/XX/2025 - Received appraisal report with E&O Policy, condition resolved.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide updated final 1003 REO section reflecting borrower current address "XXXX " from investment to primary residence.


Resolved 06/XX/2025 - Received corrected 1003 application for investment to primary residence, condition resolved.

*** (CURED) Title issue - EV R
COMMENT:   Provide executed and notarized Quit claim deed removing vesting from XXXX.

06/XX/2025: the copy of QCD resolves the condition.
    Single Family XX/XX/XXXX 80.000% 80.000% Investor Refinance 763         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
      DSCR QC Complete 06/09/2025
900000703 XXXX XXXX   XXXX Alabama Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 70.000% 70.000% Investor Purchase 794   XXXX 2 $12,242.53 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  31.448% No Full Documentation QC Complete 10/13/2025
900000706 XXXX XXXX   XXXX Florida Not Covered/Exempt 3 2 2 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of UDM report as it is missing.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
*** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Exception to allow 718 FICO for 720 required.

A copy of an exception approval letter is available in the loan file.
Residual Income: $4,671,173.81 monthly.

DTI: 0.71% DTI is less than the maximum guideline requirement of 50.00%.
Single Family XX/XX/XXXX 70.423% 70.423% Investor Refinance 718   XXXX 23.66 $4,704,759.02 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  0.714%   Alternative QC Complete 09/18/2025
900000708 XXXX XXXX   XXXX South Carolina Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide UDM for borrower (XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 70.000% 70.000% Investor Purchase 803   XXXX 0.58 $11,951.58 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  18.878% No Full Documentation QC Complete 09/18/2025
900000714 XXXX XXXX   XXXX California Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 80.000% 80.000% Primary Cash Out 716 11 XXXX 14.67 $16,536.43 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 42.923%   Alternative QC Complete 10/08/2025
900000717 XXXX XXXX   XXXX California Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Amount of title insurance is less than mortgage amount - EV R
COMMENT:   Provide updated supplemental report with amount of title insurance covering the loan amount $XXXX


10/XX/2025 Resolved: The copy of final title policy resolves the condition.
    Single Family XX/XX/XXXX 53.988% 53.988% Investor Purchase 808   XXXX 6.91 $105,983.18 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  8.445% No Alternative QC Complete 09/29/2025
900000723 XXXX XXXX   XXXX Florida Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 85.000% 85.000% Primary Purchase 711   XXXX 9.42 $120,262.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  6.714% Yes Alternative QC Complete 01/02/2026
900000736 XXXX XXXX   XXXX Maryland Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 64.943% 64.943% Primary Refinance 791 1 XXXX 20.33 $7,825.20 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  37.729%   Full Documentation QC Complete 10/15/2025
900000739 XXXX XXXX   XXXX Maryland Not Covered/Exempt 1 1 1 1 1 No No           2 Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 692         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/18/2025
900000742 XXXX XXXX   XXXX New York Not Covered/Exempt 1 1 1 1 1 No No           High Rise Condo (>=9 Stories) XX/XX/XXXX 70.000% 70.000% Investor Purchase 804   XXXX 14.41 $26,506.83 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  48.331% No Alternative QC Complete 09/24/2025
900000754 XXXX XXXX   XXXX Massachusetts Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 59.350% 59.350% Primary Purchase 801   XXXX 1.08 $19,554.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  40.220% No Alternative QC Complete 01/02/2026
900000755 XXXX XXXX   XXXX Texas Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 80.000% 80.000% Primary Purchase 816   XXXX 12.66 $4,561.63 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  44.058% Yes Alternative QC Complete 10/09/2025
900000759 XXXX XXXX   XXXX Georgia Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide UDM for borrower (XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 80.000% 80.000% Primary Purchase 816   XXXX 3.08 $7,916.67 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  31.334% Yes Full Documentation QC Complete 09/18/2025
900000761 XXXX XXXX   XXXX Oregon Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Assets - Requesting exception to permit 100% of business checking and savings balance

A copy of an exception approval letter is available in the loan file.
Residual Income: $6,016.64.00  monthly.

FICO: 753 FICO exceeds the guideline requirement of 700.
Single Family XX/XX/XXXX 85.000% 85.000% Primary Purchase 753   XXXX 2 $11,780.15 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  48.926% Yes Alternative QC Complete 10/09/2025
900000765 XXXX XXXX   XXXX Maine Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of the UDM (Undisclosed Debt Monitoring) document for borrowers (XXXX) as it is required by the guideline.


09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 80.000% 80.000% Secondary Purchase 785   XXXX 5.41 $22,425.27 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  43.789% No Full Documentation QC Complete 09/16/2025
900000766 XXXX XXXX   XXXX Massachusetts Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Primary Cash Out 728 3 XXXX 1 $4,958.54 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 21.605%   Full Documentation QC Complete 10/08/2025
900000774 XXXX XXXX   XXXX California Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of the lease agreement for the property at XXXX


Resolved 10/XX/2025 - Received LOE as property having month to month lease and the lease agreement is not required, condition resolved.
    4 Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 811         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/08/2025
900000778 XXXX XXXX   XXXX Nevada Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Borrower Identity Missing - EV R
COMMENT:   Provide a copy of Government ID for the borrower (XXXX), as it is missing.


Resolved 10/XX/2025 - Received GOV ID, condition resolved.
    Single Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 790         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/07/2025
900000779 XXXX XXXX   XXXX Alaska Not Covered/Exempt 1 1 1 1 1 No No           4 Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 763         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/29/2025
900000782 XXXX XXXX   XXXX Ohio Not Covered/Exempt 1 1 1 1 1 No No           4 Family XX/XX/XXXX 75.000% 75.000% Investor Cash Out 759       $0.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 10/09/2025
900000784 XXXX XXXX   XXXX Arizona Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 744         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/18/2025
900000786 XXXX XXXX   XXXX Arizona Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide a copy of UDM report as it is missing.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    PUD XX/XX/XXXX 80.000% 80.000% Primary Purchase 771   XXXX 5.5 $195,752.22 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  32.393% No Alternative QC Complete 09/18/2025
900000795 XXXX XXXX   XXXX Pennsylvania Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Initial Escrow Acct Disclosure missing; loan has escrows - EV R
COMMENT:   Missing Initial Escrow Account Disclosure.

Resolved 10/XX/2025: Received Initial Escrow Account Disclosure dated 09/XX/2025 and exception is cleared.
    Single Family XX/XX/XXXX 66.920% 66.920% Secondary Cash Out 660   XXXX 6.16 $14,026.92 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 44.240%   Alternative QC Complete 10/08/2025
900000797 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 754       $0.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/09/2025
900000798 XXXX XXXX   XXXX New York Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 68.090% 68.090% Primary Cash Out 784 9 XXXX 7.42 $30,787.24 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 26.781%   Alternative QC Complete 10/08/2025
900000801 XXXX XXXX   XXXX North Carolina Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 764         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/23/2025
900000802 XXXX XXXX   XXXX Texas Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Investor Refinance 741         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
      DSCR QC Complete 09/18/2025
Removed from deal XXXX XXXX   XXXX Washington Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 60.750% 60.750% Primary Refinance 746 1.42 XXXX 0.92 $13,083.33 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  49.922%   Full Documentation QC Complete 09/30/2025
900000806 XXXX XXXX   XXXX Alabama Not Covered/Exempt 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   GLA on subject property under 500 sqft

A copy of an exception approval letter is available in the loan file.
Residual Income : $7,430.77.00 monthly ( Calculate it Total income - Total obligation)

FICO 797 exceeds the minimum guideline requirement of 720

DTI 47.34% is less than the maximum guideline requirement of 50%.
Low Rise Condo  (1-4 Stories) XX/XX/XXXX 75.000% 75.000% Investor Purchase 797   XXXX 0.08 $5,408.33 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  47.337% No Full Documentation QC Complete 10/08/2025
900000807 XXXX XXXX   XXXX Florida Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of UDM for borrower(XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 80.000% 80.000% Primary Cash Out 771 11 XXXX 10.08 $16,789.81 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 45.630%   Alternative QC Complete 09/17/2025
900000815 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 732   XXXX 6.66 $328,605.79 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  6.300% No Alternative QC Complete 10/15/2025
900000830 XXXX XXXX   XXXX New York Not Covered/Exempt 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 75.000% 75.000% Investor Purchase 776         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 01/02/2026
900000831 XXXX XXXX   XXXX New Jersey Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower (XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 80.000% 80.000% Primary Refinance 721 7.5 XXXX 7.08 $34,864.62 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  19.012%   Alternative QC Complete 09/17/2025
900000836 XXXX XXXX   XXXX Texas Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Primary Cash Out 722 0.58 XXXX 0.58 $20,585.23 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 49.843%   Full Documentation QC Complete 09/26/2025
900000841 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 75.000% 75.000% Investor Purchase 799         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/18/2025
900000842 XXXX XXXX   XXXX Alabama Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of the Settlement Statement for the property located at XXXX, showing the proceeds from the real estate sale amounting to $XXXX to be finalized on or before closing.


Resolved 10/XX/2025 - Received settlement statement with proceeds $XXXX, condition resolved.
    Single Family XX/XX/XXXX 30.097% 30.097% Primary Purchase 795   XXXX   $5,312.80 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  41.461% No Alternative QC Complete 10/09/2025
900000846 XXXX XXXX   XXXX Arizona Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower (XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    PUD XX/XX/XXXX 49.485% 49.485% Primary Cash Out 793 0.25 XXXX 9.58 $14,963.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 12.673%   Alternative QC Complete 09/18/2025
900000848 XXXX XXXX   XXXX New Jersey Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 85.000% 85.000% Primary Purchase 797   XXXX 4.67 $25,980.01 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  42.912% Yes Alternative QC Complete 01/02/2026
900000852 XXXX XXXX   XXXX New Jersey Not Covered/Exempt 1 1 1 1 1 No No           2 Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 766         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/09/2025
900000854 XXXX XXXX   XXXX Oregon Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 69.892% 69.892% Primary Refinance 726 1.66 XXXX 18.66 $28,613.33 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  25.524%   Alternative QC Complete 10/14/2025
900000856 XXXX XXXX   XXXX Georgia Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Exception requested to omit the commercial mortgage with XXXX from liabilities and waive verification of the pay history.

A copy of an exception approval letter is available in the loan file.
FICO: 791 FICO exceeds the guideline requirement of 640.

Residual Income: $1,983.62 monthly.
Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 791         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No Alternative QC Complete 10/15/2025
900000864 XXXX XXXX   XXXX Florida Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 75.000% 75.000% Secondary Purchase 701   XXXX 19.33 $279,065.69 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  6.894% No Alternative QC Complete 10/01/2025
900000867 XXXX XXXX   XXXX Utah Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 778         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/29/2025
900000869 XXXX XXXX   XXXX New Jersey Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 85.000% 85.000% Investor Purchase 733   XXXX 8.5 $18,649.68 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  23.004% No Alternative QC Complete 10/08/2025
900000871 XXXX XXXX   XXXX Pennsylvania Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 73.333% 73.333% Investor Refinance 790         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
      DSCR QC Complete 10/09/2025
900000873 XXXX XXXX   XXXX California Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide updated final application reflecting the intended to use occupancy as primary residence for property address "XXXX"


Resolved 10/XX/2025 - Received updated 1003 application, condition resolved.
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 75.000% 75.000% Secondary Refinance 747   XXXX 11.33 $547,712.06 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  4.352%   Alternative QC Complete 09/25/2025
900000875 XXXX XXXX   XXXX Texas Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 90.000% 90.000% Primary Purchase 773   XXXX 5 $69,396.46 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  12.558% No Alternative QC Complete 01/02/2026
900000876 XXXX XXXX   XXXX Texas Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Note is missing or unexecuted - EV R
COMMENT:   Provide a copy of Note document.


Resolved 10/XX/2025 - Received Note document, condition resolved.
    PUD XX/XX/XXXX 61.567% 61.567% Primary Cash Out 748 10 XXXX 6.67 $3,504.15 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 49.824%   Alternative QC Complete 09/29/2025
900000881 XXXX XXXX   XXXX Texas Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 7.748% Allowed 7.720% Overby +0.028%

This loan is compliant with regulation 1026.35.
    PUD XX/XX/XXXX 85.000% 85.000% Primary Purchase 708   XXXX 7.33 $13,932.95 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  41.069% Yes Alternative QC Complete 10/14/2025
900000885 XXXX XXXX   XXXX Arizona Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 63.002% 63.002% Primary Purchase 720       $55,064.75 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  13.440% No Alternative QC Complete 10/13/2025
900000888 XXXX XXXX   XXXX Virginia Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 70.000% 70.000% Investor Purchase 754         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/14/2025
900000889 XXXX XXXX   XXXX New York Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Primary Cash Out 794 2.08 XXXX 5.58 $35,752.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 33.517%   Alternative QC Complete 09/16/2025
900000892 XXXX XXXX   XXXX Florida Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 84.557% 84.557% Primary Refinance 765 2.16 XXXX 8.75 $51,744.65 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  14.422%   Alternative QC Complete 09/26/2025
900000896 XXXX XXXX   XXXX New York Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 71.165% 71.165% Primary Cash Out 774 9.25 XXXX 13.5 $11,444.72 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 49.817%   Alternative QC Complete 01/02/2026
900000899 XXXX XXXX   XXXX Ohio Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 786   XXXX 35.66 $9,149.42 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  44.852% No Alternative QC Complete 01/02/2026
900000903 XXXX XXXX   XXXX New York Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide UDM for borrower(XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.

*** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide supporting document (wire transaction) for gift fund $XXXX as it is missing.


Resolved 09/XX/2025 - Received gift wire, condition resolved.
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 80.000% 80.000% Primary Purchase 790   XXXX 6.05 $19,652.38 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  44.013% No Alternative QC Complete 09/19/2025
900000905 XXXX XXXX   XXXX Arizona Non-QM/Compliant 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing - EV R
COMMENT:   Provide UDM for borrower(XXXX) as it is required by the guideline.

09/XX/2025 - Resolved as per the updated guidelines do not require UDM.
    Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 780   XXXX 29.66 $14,627.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  11.263% No Alternative QC Complete 09/18/2025
900000911 XXXX XXXX   XXXX Texas Not Covered/Exempt 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   LTV/CLTV Exception to allow 80% LTV on max of 75% allowed.

A copy of an exception approval letter is available in the loan file.
DTI: 31.90% DTI is less than the maximum guideline requirement of 50.00%.


Residual Income: $41,247.22 monthly.


Single Family XX/XX/XXXX 77.921% 77.921% Investor Refinance 705   XXXX 3.83 $60,570.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  31.902%   Alternative QC Complete 10/15/2025
900000916 XXXX XXXX   XXXX Florida Non-QM/Compliant 4 1 1 1 1 No No     *** (CURED) Federal Higher Price Mortgage Loan - EV R
COMMENT:   12 CFR § 1026.35(a)(1) Using the greater of the disclosed APR and the calculated APR, the loan is a higher-priced mortgage loan, as defined in Regulation Z.

Higher-Priced Mortgage Loan Test: Charged 8.260% Allowed 8.040% Overby +0.220%

This loan is compliant with regulation 1026.35.
    Low Rise Condo  (1-4 Stories) XX/XX/XXXX 90.000% 90.000% Primary Purchase 749   XXXX 3.16 $30,107.58 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  17.283% No Alternative QC Complete 10/13/2025
900000917 XXXX XXXX   XXXX Texas Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 799         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/14/2025
900000918 XXXX XXXX   XXXX Texas Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Primary Cash Out 750 0.5 XXXX 11.75 $79,643.78 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX 30.640%   Alternative QC Complete 10/14/2025
900000919 XXXX XXXX   XXXX Colorado Non-QM/Compliant 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 80.000% 80.000% Primary Purchase 799         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No Alternative QC Complete 10/08/2025
900000920 XXXX XXXX   XXXX New York Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 80.000% 80.000% Primary Purchase 736   XXXX 5 $29,488.58 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  19.018% Yes Alternative QC Complete 01/02/2026
900000921 XXXX XXXX   XXXX Colorado Non-QM/Compliant 1 1 1 1 1 No No           Low Rise Condo  (1-4 Stories) XX/XX/XXXX 75.000% 75.000% Primary Purchase 777   XXXX 3.25 $7,384.78 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  40.836% Yes Full Documentation QC Complete 10/09/2025
900000930 XXXX XXXX   XXXX Indiana Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   Provide a copy of the wire transfer document or other supporting documentation to verify the $30,000 gift amount.



Resolved 09/XX/2025 - Received Wire transfer for the gift amount, condition resolved.
    4 Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 737         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/12/2025
900000932 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 47.826% 47.826% Investor Refinance 746         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
      DSCR QC Complete 09/25/2025
900000933 XXXX XXXX   XXXX Illinois Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 80.000% 80.000% Primary Purchase 806   XXXX 4.08 $13,042.41 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  32.167% No Alternative QC Complete 10/14/2025
900000934 XXXX XXXX   XXXX New York Non-QM/Compliant 2 2 2 1 1 No No       *** (WAIVED) Loan does not conform to program guidelines - EV W
COMMENT:   Permit a non-occupant borrower for a 2 unit primary rate/term refinance

A copy of an exception approval letter is available in the loan file.
DTI: 16.42% DTI is less than the maximum guideline requirement of 50.00%.

FICO: 725 FICO exceeds the guideline requirement of 720.

LTV: 40.80% LTV is less than the guideline requirement of 80.00%.
2 Family XX/XX/XXXX 40.805% 40.805% Primary Refinance 725 8 XXXX 12.66 $8,125.75 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  16.420%   Alternative QC Complete 01/02/2026
900000941 XXXX XXXX   XXXX California Non-QM/Compliant 1 1 1 1 1 No No           Single Family XX/XX/XXXX 59.952% 59.952% Primary Refinance 782 1.5 XXXX 3.67 $56,688.51 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  39.508%   Alternative QC Complete 01/02/2026
900000945 XXXX XXXX   XXXX Tennessee Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 60.000% 60.000% Investor Purchase 791         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/29/2025
900000948 XXXX XXXX   XXXX Indiana Not Covered/Exempt 3 1 1 1 1 No No     *** (CURED) Required Documentation Missing or Incomplete  - EV R
COMMENT:   The Note and Final 1003 indicate that the borrower is an LLC. However, the Mortgage, Final Title and Appraisal show the borrower as an individual.


Resolved 09/XX/2025 - Received Quit claim deed as the reflecting the borrower as individual, condition resolved.
    Single Family XX/XX/XXXX 75.000% 75.000% Investor Cash Out 735         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
$XXXX     DSCR QC Complete 09/18/2025
900000949 XXXX XXXX   XXXX Pennsylvania Not Covered/Exempt 1 1 1 1 1 No No           PUD XX/XX/XXXX 75.000% 75.000% Investor Purchase 678   XXXX 6.58   Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  1.739% No Alternative QC Complete 09/25/2025
900000951 XXXX XXXX   XXXX New York Not Covered/Exempt 1 1 1 1 1 No No           2 Family XX/XX/XXXX 80.000% 80.000% Investor Purchase 766         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 10/14/2025
900000955 XXXX XXXX   XXXX California Not Covered/Exempt 1 1 1 1 1 No No           Mid Rise Condo  (5-8 Stories) XX/XX/XXXX 80.000% 80.000% Investor Purchase 758   XXXX 7.16 $30,229.00 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  36.089% No Full Documentation QC Complete 09/25/2025
900000956 XXXX XXXX   XXXX Florida Non-QM/Compliant 1 1 1 1 1 No No           PUD XX/XX/XXXX 75.000% 75.000% Primary Purchase 686   XXXX 20.66 $9,604.64 Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
  43.925% No Alternative QC Complete 10/02/2025
900000961 XXXX XXXX   XXXX Washington Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Investor Refinance 725         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
      DSCR QC Complete 09/30/2025
900000972 XXXX XXXX   XXXX Florida Not Covered/Exempt 1 1 1 1 1 No No           Single Family XX/XX/XXXX 75.000% 75.000% Investor Purchase 804         Mos Reviewed:24
Times 1X30:0
Times 1X60:0
Times 1X90:0
Currently Delinquent? :No
Total Delinquent:
Mortgage/Rent Dlq Last 12 Mos:0
Max Days Dlq Last 12 Mos:0
Verification Type:Credit Report
    No DSCR QC Complete 09/16/2025