Exhibit 99.54
| Angel Oak |
| AOMT 2023-1 |
| 1/5/2023 |
| Loan ID | Customer Loan ID | Seller Loan ID | Note Date | Original Loan Amount | Last Name | Property State | Occupancy | Purpose | Originator QM Status | TPR QM Status | Exception ID | Exception Number | Exception Date | Exception Type | Exception Subcategory | Exception | Exception Remedy | Rebuttal | TPR Response | Compensating Factors | Status Update Date | Finding Status | Initial Exception Grade | Final Exception Grade | Initial Loan Grade | Final Loan Grade |
| 2023011017 | XXX | XXX | XXX | XXX | Primary Residence | Refinance | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 1 of 3 | XXX | Credit | Title Coverage is Less than Subject Lien(s) Total | Title coverage is less than total amount of subject lien(s). Title Coverage Amount of $X is Less than Total Amount of Subject Lien(s) of $XXX. The loan file Title Coverage Amount of $X is Less than Total Amount of Subject Lien(s) of $XXX,XXX.XX preliminary/Supplement or Final report is missing the coverage. |
Title Coverage Amount of $XXX is equal to or greater than Total Amount of Subject Lien(s) $XXX+X+X - XXX |
XXX | Resolved | 3 | 1 | 3 | 1 | |||||
| 2023011017 | XXX | XXX | XXX | XXX | Primary Residence | Refinance | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 2 of 3 | XXX | Compliance | No Compliance Findings | The loan meets all applicable compliance guidelines. |
XXX | Cleared | 1 | 1 | 3 | 1 | ||||||
| 2023011017 | XXX | XXX | XXX | XXX | Primary Residence | Refinance | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 3 of 3 | XXX | Property | Value - Value is supported within 10% of original appraisal amount | The appraised value was supported within XX% and all applicable appraisal guidelines were satisfied. |
XXX | Cleared | 1 | 1 | 3 | 1 | ||||||
| 2023011016 | XXX | XXX | XXX | XXX | Investment | Refinance | ATR/QM: Exempt | ATR/QM: Exempt | XXX | 1 of 3 | XXX | Credit | Title Coverage is Less than Subject Lien(s) Total | Title coverage is less than total amount of subject lien(s). Title Coverage Amount of $X is Less than Total Amount of Subject Lien(s) of $XXX.XX. The loan file Title Coverage Amount of $X is Less than Total Amount of Subject Lien(s) of $XXX,XXX.XX preliminary/Supplement or Final report is missing the coverage. |
Title Coverage Amount of $XXX is equal to or greater than Total Amount of Subject Lien(s) $XXX.XX+X+X - XXX |
XXX | Resolved | 3 | 1 | 3 | 1 | |||||
| 2023011016 | XXX | XXX | XXX | XXX | Investment | Refinance | ATR/QM: Exempt | ATR/QM: Exempt | XXX | 2 of 3 | XXX | Property | Value - Value is supported within 10% of original appraisal amount | The appraised value was supported within XX% and all applicable appraisal guidelines were satisfied. |
XXX | Cleared | 1 | 1 | 3 | 1 | ||||||
| 2023011016 | XXX | XXX | XXX | XXX | Investment | Refinance | ATR/QM: Exempt | ATR/QM: Exempt | XXX | 3 of 3 | XXX | Compliance | No Compliance Findings | The loan meets all applicable compliance guidelines. |
XXX | Cleared | 1 | 1 | 3 | 1 | ||||||
| 2023011008 | 3113012794 | XXX | XXX | XXX | XXX | Primary Residence | Purchase | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 1 of 4 | XXX | Credit | Asset 2 Less Than 2 Months Verified | Asset has less than X months verified in file. Asset X Less Than X Months Verified Per guidelines (X.XX.X Verification of Assets) Complete copies of bank statements or investment portfolio statements from the most recent two months prior to the application date are required. The borrower only provided X month of bank statement from xxxx ending in XXX. Please provide an additional month of asset statements. |
Asset X Verified Sufficiently Or Not Applicable - XXX |
XXX | Resolved | 3 | 1 | 3 | 1 | ||||
| 2023011008 | 3113012794 | XXX | XXX | XXX | XXX | Primary Residence | Purchase | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 2 of 4 | XXX | Credit | Flood Insurance Policy Missing | Missing flood insurance policy. Missing Flood Insurance Policy. The property is located in a flood zone per the flood cert. The flood insurance policy is missing from the file. |
Documentation provided was sufficient. - XXX |
XXX | Resolved | 3 | 1 | 3 | 1 | ||||
| 2023011008 | 3113012794 | XXX | XXX | XXX | XXX | Primary Residence | Purchase | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 3 of 4 | XXX | Property | Value - Value is supported within 10% of original appraisal amount | The appraised value was supported within XX% and all applicable appraisal guidelines were satisfied. |
XXX | Cleared | 1 | 1 | 3 | 1 | |||||
| 2023011008 | 3113012794 | XXX | XXX | XXX | XXX | Primary Residence | Purchase | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 4 of 4 | XXX | Compliance | No Compliance Findings | The loan meets all applicable compliance guidelines. |
XXX | Cleared | 1 | 1 | 3 | 1 | |||||
| 2023011009 | 3113012840 | XXX | XXX | XXX | XXX | Investment | Refinance | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 1 of 4 | XXX | Compliance | Missing Doc - Affiliated Business Disclosure/Missing | Required Affiliated Business Disclosure missing |
Required Affiliated Business Disclosure Resolved - XXX |
XXX | Resolved | 3 | 1 | 3 | 1 | ||||
| 2023011009 | 3113012840 | XXX | XXX | XXX | XXX | Investment | Refinance | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 2 of 4 | XXX | Compliance | No Compliance Findings | The loan meets all applicable compliance guidelines. |
XXX | Cleared | 1 | 1 | 3 | 1 | |||||
| 2023011009 | 3113012840 | XXX | XXX | XXX | XXX | Investment | Refinance | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 3 of 4 | XXX | Credit | Program Parameters - Guidelines Conformity | The subject loan does not conform to program guidelines. Per guidelines (X.X.XX FORBEARANCE, DEFERRED PAYMENTS, MODIFICATIONS), mortgage loan modification are unacceptable credit events and disqualifies borrower(s) from financing. Per the credit report dated XX/X/XXX, the borrowers' mortgage, which is their primary) with XXX has been modified. An exception was not located in the loan file. |
Documentation provided was sufficient. - XXX |
XXX | Resolved | 3 | 1 | 3 | 1 | ||||
| 2023011009 | 3113012840 | XXX | XXX | XXX | XXX | Investment | Refinance | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 4 of 4 | XXX | Property | Value - Value is supported within 10% of original appraisal amount | The appraised value was supported within XX% and all applicable appraisal guidelines were satisfied. |
XXX | Cleared | 1 | 1 | 3 | 1 | |||||
| 2023011010 | 6100290384 | XXX | XXX | XXX | XXX | Investment | Refinance | ATR/QM: Exempt | ATR/QM: Exempt | XXX | 1 of 3 | XXX | Compliance | No Compliance Findings | The loan meets all applicable compliance guidelines. |
XXX | Cleared | 1 | 1 | 3 | 2 | |||||
| 2023011010 | 6100290384 | XXX | XXX | XXX | XXX | Investment | Refinance | ATR/QM: Exempt | ATR/QM: Exempt | XXX | 2 of 3 | XXX | Credit | Audited Loan Amount is less than Guideline Maximum Loan Amount | Audited loan amount is less than the guideline Minimum loan amount. Audited Loan Amount of $XXX is less than the Guideline Minimum Loan Amount of $XXX The file did not include an exception for the loan size on this DSCR cash out Refinance. . |
33 years of credit depth, 27 years of mortgage history all paid as agreed. Experienced investor with 22 properties. 9 months verified reserves. | XXX | Waived | 3 | 2 | 3 | 2 | ||||
| 2023011010 | 6100290384 | XXX | XXX | XXX | XXX | Investment | Refinance | ATR/QM: Exempt | ATR/QM: Exempt | XXX | 3 of 3 | XXX | Property | Value - Value is supported within 10% of original appraisal amount | The appraised value was supported within XX% and all applicable appraisal guidelines were satisfied. |
XXX | Cleared | 1 | 1 | 3 | 2 | |||||
| 2023011014 | XXX | XXX | XXX | XXX | Primary Residence | Purchase | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 1 of 4 | XXX | Credit | Purchase Contract Expiration Date is prior to Note Date | Purchase Contract expiration date is prior to Note date. Purchase contract close of escrow provided was not signed by the sellers |
Documentation provided was sufficient. - XXX |
XXX | Resolved | 2 | 1 | 3 | 1 | |||||
| 2023011014 | XXX | XXX | XXX | XXX | Primary Residence | Purchase | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 2 of 4 | XXX | Credit | AUS (Manual) - Missing | A Manual Underwrite was required, but not in evidence in the file. Missing AUS showing ineligible results to support the information on the XXX |
Documentation provided was sufficient. - XXX |
XXX | Resolved | 2 | 1 | 3 | 1 | |||||
| 2023011014 | XXX | XXX | XXX | XXX | Primary Residence | Purchase | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 3 of 4 | XXX | Compliance | No Compliance Findings | The loan meets all applicable compliance guidelines. |
XXX | Cleared | 1 | 1 | 3 | 1 | ||||||
| 2023011014 | XXX | XXX | XXX | XXX | Primary Residence | Purchase | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 4 of 4 | XXX | Property | Value - Value is supported within 10% of original appraisal amount | The appraised value was supported within XX% and all applicable appraisal guidelines were satisfied. |
XXX | Cleared | 1 | 1 | 3 | 1 | ||||||
| 2023011015 | XXX | XXX | XXX | XXX | Investment | Refinance | ATR/QM: Exempt | ATR/QM: Exempt | XXX | 1 of 3 | XXX | Property | Value - Value is supported within 10% of original appraisal amount | The appraised value was supported within XX% and all applicable appraisal guidelines were satisfied. |
XXX | Cleared | 1 | 1 | 3 | 1 | ||||||
| 2023011015 | XXX | XXX | XXX | XXX | Investment | Refinance | ATR/QM: Exempt | ATR/QM: Exempt | XXX | 2 of 3 | XXX | Compliance | No Compliance Findings | The loan meets all applicable compliance guidelines. |
XXX | Cleared | 1 | 1 | 3 | 1 | ||||||
| 2023011015 | XXX | XXX | XXX | XXX | Investment | Refinance | ATR/QM: Exempt | ATR/QM: Exempt | XXX | 3 of 3 | XXX | Credit | Title Coverage is Less than Subject Lien(s) Total | Title coverage is less than total amount of subject lien(s). Title coverage amount of $X is less than total amount of subject lien(s) of $XXX. The loan file Title Coverage Amount of $X is Less than Total Amount of Subject Lien(s) of XXX,XXX.XX preliminary/Supplement or Final report is missing the coverage. |
Documentation provided was sufficient. - XXX |
XXX | Resolved | 3 | 1 | 3 | 1 | |||||
| 2023011012 | XXX | XXX | XXX | XXX | Investment | Purchase | ATR/QM: Exempt | ATR/QM: Exempt | XXX | 1 of 3 | XXX | Compliance | No Compliance Findings | The loan meets all applicable compliance guidelines. |
XXX | Cleared | 1 | 1 | 2 | 1 | ||||||
| 2023011012 | XXX | XXX | XXX | XXX | Investment | Purchase | ATR/QM: Exempt | ATR/QM: Exempt | XXX | 2 of 3 | XXX | Property | Appraisal - Other | There are additional appraisal findings. The address on the appraisal (XXX ) does not match the address on the Note (XXX) |
Documentation provided was sufficient. - XXX |
XXX | Resolved | 2 | 1 | 2 | 1 | |||||
| 2023011012 | XXX | XXX | XXX | XXX | Investment | Purchase | ATR/QM: Exempt | ATR/QM: Exempt | XXX | 3 of 3 | XXX | Credit | No Credit Findings | The loan meets all applicable credit guidelines. |
XXX | Cleared | 1 | 1 | 2 | 1 | ||||||
| 2023011013 | XXX | XXX | XXX | XXX | Primary Residence | Refinance | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 1 of 3 | XXX | Credit | No Credit Findings | The loan meets all applicable credit guidelines. |
XXX | Cleared | 1 | 1 | 1 | 1 | ||||||
| 2023011013 | XXX | XXX | XXX | XXX | Primary Residence | Refinance | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 2 of 3 | XXX | Property | Value - Value is supported within 10% of original appraisal amount | The appraised value was supported within XX% and all applicable appraisal guidelines were satisfied. |
XXX | Cleared | 1 | 1 | 1 | 1 | ||||||
| 2023011013 | XXX | XXX | XXX | XXX | Primary Residence | Refinance | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 3 of 3 | XXX | Compliance | No Compliance Findings | The loan meets all applicable compliance guidelines. |
XXX | Cleared | 1 | 1 | 1 | 1 | ||||||
| 2023011011 | XXX | XXX | XXX | XXX | XXX | Primary Residence | Refinance | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 1 of 3 | XXX | Credit | No Credit Findings | The loan meets all applicable credit guidelines. |
XXX | Cleared | 1 | 1 | 1 | 1 | |||||
| 2023011011 | XXX | XXX | XXX | XXX | XXX | Primary Residence | Refinance | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 2 of 3 | XXX | Property | Value - Value is supported within 10% of original appraisal amount | The appraised value was supported within XX% and all applicable appraisal guidelines were satisfied. |
XXX | Cleared | 1 | 1 | 1 | 1 | |||||
| 2023011011 | XXX | XXX | XXX | XXX | XXX | Primary Residence | Refinance | Non-QM: Lender documented all ATR UW factors | Non-QM: Lender documented all ATR UW factors | XXX | 3 of 3 | XXX | Compliance | No Compliance Findings | The loan meets all applicable compliance guidelines. |
XXX | Cleared | 1 | 1 | 1 | 1 |