EX-99.3 4 exh_99-3.htm DISCLOSURES REQBY RULE 15GA-2 FOR DEED RESEARCH, INC. DBA DRI TITLE & ESCROW

Exhibit 99.3

 

 

Executive Summary

 

DRI Title & Escrow - (Bv20170411)

 

 

 

Description of the due diligence performed

 

As part of the due diligence services performed by DRI Title & Escrow (DRI), Bayview Fund Management, LLC (Client) provided DRI with identifying data on approximately 106 mortgage loans. Such data contained loan and servicer identification numbers as well as the subject address and name of the borrower(s). Utilizing the data provided, DRI ordered current owner searches on the title for each of these mortgage loans. Upon receipt and review of the of the results of the search, DRI identified whether or not the search revealed any liens and/or judgments which could affect the priority of the subject mortgage, including potentially superior post origination liens and/or judgments. For the purpose of identifying potentially superior post origination HOA liens, Client provided DRI a list of states for which potentially superior post origination HOA liens may take priority over the subject lien. The states identified by the Client in this regard are: CT, DC, MA, NV, RI, WA, AK, AL, CO, FL, IL, MN, NJ, NY, OR, PA, TN, WV. Client also provided copies of existing title policies as it relates to the mortgage loans so the policies could be reviewed to determine whether or not any identifiable liens and/or judgments were listed as exceptions on the applicable policies.

 

 

 

Summary of findings and conclusions of review

 

DRI was engaged by Client as diligence agent to order and review title reports for a population of 106 mortgage loans. With respect to these mortgage loans:

 

As set forth in the title reports, the subject mortgage is in the 1st lien position, with the exception of the following:

 

1.Title report Pre-Origination Findings indicate 14 mortgage loans were category 2 in which the title policy reviewed insured the target lien in first position.
2.Title report indicates 1 mortgage loan with a municipal lien.
a.Total Muni Lien amount is $2,527.30.

 

  
 

 

2017-SPL3 ID Deal ID Review Date State Expected MTG
Lien Position		 Pre-Origination Findings MTG Lien
Position		 MTG
Released?		 Count of Pre-Origination
MTG Liens		 Total Dollar Amount of
Pre-Origination MTG Lien(s)		 Count of
Pre-Origination
Non-MTG Liens		 TPOL
Review
Needed?		 TPOL
Reviewed?		 TPOL Exception to
Pre-Origination
MTG/Non-MTG Liens?		 Post-Origination
Non-MTG Liens		 Superlien
State?		 HOA
Lien?		 HOA
Amount		 Muni
Lien?		 Muni
Amount
2017SPL3102233 C-28195-07 9/26/2016 CA 1 2. Clear Title Policy confirms lien insured in position 1 No 1 $82,500.00 0 Yes Yes No No No No No No $0.00
2017SPL3103383 C-28195-07 10/5/2016 VT 1 2. Clear Title Policy confirms lien insured in position 1 No 1 $79,554.09 0 Yes Yes No No No No No No $0.00
2017SPL3102932 C-28195-07 9/21/2016 ID 1 2. Clear Title Policy confirms lien insured in position 1 No 1 $76,650.00 0 Yes Yes No No No No No No $0.00
2017SPL3102157 C-28195-07 9/28/2016 MO 1 2. Clear Title Policy confirms lien insured in position 1 No 1 $69,939.00 0 Yes Yes No No No No No No $0.00
2017SPL3103374 C-28195-08 12/8/2016 VA 1 2. Clear Title Policy confirms lien insured in position 1 No 1 $49,969.14 0 Yes Yes No No No No No No $0.00
2017SPL3102101 C-28195-07 9/21/2016 CA 1 2. Clear Title Policy confirms lien insured in position 1 No 1 $33,700.00 0 Yes Yes No No No No No No $0.00
2017SPL3102332 C-28195-07 10/4/2016 TN 1 2. Clear Title Policy confirms lien insured in position 1 No 1 $28,062.38 0 Yes Yes No No Yes No No No $0.00
2017SPL3103032 C-28195-07 9/26/2016 AL 1 2. Clear Title Policy confirms lien insured in position 1 No 1 $24,000.00 0 Yes Yes No No Yes No No No $0.00
2017SPL3103053 C-28195-07 9/19/2016 MN 1 2. Clear Title Policy confirms lien insured in position 1 No 1 $13,850.00 0 Yes Yes No No Yes No No No $0.00
2017SPL3102124 C-28195-08 12/12/2016 VT 1 2. Clear Title Policy confirms lien insured in position 1 No 1 $4,000.00 0 Yes Yes No No No No No No $0.00
2017SPL3103027 C-28195-07 9/23/2016 CT 1 2. Clear Title Policy confirms lien insured in position 1 No 0 $0.00 2 Yes Yes No Yes Yes No No No $0.00
2017SPL3102027 C-28195-08 12/1/2016 AL 1 2. Clear Title Policy confirms lien insured in position 1 No 0 $0.00 1 Yes Yes No Yes Yes No No No $0.00
2017SPL3103465 C-28195-08 12/21/2016 AL 1 2. Clear Title Policy confirms lien insured in position 1 No 0 $0.00 1 Yes Yes No Yes Yes No No No $0.00
2017SPL3102711 C-28195-07 10/4/2016 NH 1 2. Clear Title Policy confirms lien insured in position 1 No 0 $0.00 1 Yes Yes No Yes No No No No $0.00
2017SPL3102031 C-28195-08 12/1/2016 PA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA Yes Yes No No Yes $2,527.30
2017SPL3101998 C-28195-08 12/1/2016 OR 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3101997 C-28195-08 12/8/2016 TN 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3103304 C-28195-07 9/29/2016 OR 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3103320 C-28195-07 9/23/2016 WA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102077 C-28195-07 9/20/2016 AL 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3103341 C-28195-08 12/6/2016 TN 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3103309 C-28195-07 9/25/2016 TN 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102112 C-28195-08 12/7/2016 TN 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102759 C-28195-07 9/19/2016 FL 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102792 C-28195-07 9/22/2016 FL 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102150 C-28195-08 12/25/2016 TN 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3103058 C-28195-07 10/11/2016 WV 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102823 C-28195-08 12/9/2016 TN 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3103069 C-28195-08 12/1/2016 PA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102873 C-28195-08 11/30/2016 AL 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102816 C-28195-08 12/2/2016 TN 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102230 C-28195-07 9/26/2016 PA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102876 C-28195-08 12/9/2016 AL 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3103076 C-28195-08 12/1/2016 FL 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102196 C-28195-07 10/2/2016 PA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102841 C-28195-08 12/7/2016 TN 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102207 C-28195-08 12/12/2016 TN 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102249 C-28195-08 11/29/2016 FL 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3103456 C-28195-08 12/6/2016 TN 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3103087 C-28195-07 10/3/2016 CT 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102924 C-28195-08 12/7/2016 FL 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102304 C-28195-07 10/2/2016 IL 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102303 C-28195-07 9/19/2016 MN 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3103523 C-28195-07 10/2/2016 PA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3103527 C-28195-08 11/29/2016 AL 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102359 C-28195-07 11/9/2016 AL 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102981 C-28195-07 9/20/2016 TN 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3103192 C-28195-07 10/3/2016 FL 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3103541 C-28195-08 12/5/2016 TN 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No Yes No No No $0.00
2017SPL3102020 C-28195-07 9/26/2016 OH 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103008 C-28195-08 12/12/2016 MS 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102734 C-28195-08 12/3/2016 HI 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103028 C-28195-07 9/19/2016 MO 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103029 C-28195-07 10/6/2016 HI 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102789 C-28195-07 10/6/2016 HI 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103364 C-28195-08 12/20/2016 LA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103034 C-28195-07 9/26/2016 VA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103041 C-28195-07 9/19/2016 CA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102135 C-28195-07 10/14/2016 SC 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103380 C-28195-07 10/3/2016 NM 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103051 C-28195-07 9/27/2016 GA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103353 C-28195-08 12/11/2016 NC 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103352 C-28195-07 9/26/2016 KY 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103056 C-28195-08 12/1/2016 GA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103377 C-28195-07 10/5/2016 GA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102826 C-28195-07 9/28/2016 OH 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102829 C-28195-07 10/5/2016 SC 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102177 C-28195-07 9/27/2016 SC 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102812 C-28195-08 12/4/2016 UT 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102213 C-28195-07 9/26/2016 GA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103073 C-28195-07 10/14/2016 VA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102216 C-28195-07 9/22/2016 KS 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102234 C-28195-08 11/25/2016 CA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102848 C-28195-07 10/4/2016 VA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102892 C-28195-07 9/23/2016 SC 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102245 C-28195-08 12/14/2016 OH 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102247 C-28195-08 12/14/2016 OH 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102250 C-28195-08 12/5/2016 WY 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102893 C-28195-08 12/6/2016 NC 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102894 C-28195-08 1/10/2017 KS 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103449 C-28195-07 10/3/2016 KY 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102254 C-28195-08 11/30/2016 IN 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102258 C-28195-07 9/27/2016 SC 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102266 C-28195-08 12/9/2016 GA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102906 C-28195-07 9/26/2016 SC 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102909 C-28195-07 9/19/2016 CA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102277 C-28195-08 12/5/2016 VA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102930 C-28195-07 9/28/2016 KS 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102299 C-28195-08 11/25/2016 CA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103462 C-28195-07 9/20/2016 HI 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103463 C-28195-07 10/6/2016 HI 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102308 C-28195-07 9/19/2016 CA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102342 C-28195-07 9/26/2016 MD 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102357 C-28195-08 12/12/2016 VA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102345 C-28195-07 10/4/2016 AZ 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103531 C-28195-07 10/14/2016 SC 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103534 C-28195-07 10/3/2016 NC 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102380 C-28195-07 9/20/2016 AZ 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103593 C-28195-08 12/14/2016 IA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103191 C-28195-08 11/29/2016 CA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102406 C-28195-08 11/28/2016 IA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103510 C-28195-07 9/22/2016 IA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3102992 C-28195-08 11/28/2016 MI 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103598 C-28195-07 9/20/2016 TX 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103572 C-28195-07 9/30/2016 VA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00
2017SPL3103573 C-28195-07 9/26/2016 VA 1 1. Title/Lien search confirms lien position 1 No 0 $0.00 0 No No NA No No No No No $0.00