Borrower looking to cash out refinance on subject property located in Baltimore, MD and hold it to long term loan. Subject is an SFR currently leased for $1,563 per month which is less than the market rates per the appraiser's estimate ($1,750). Subject appraised for $184K As-Is and CDA was ordered to confirm the appraised value. Sponsor on the loan with excellent credit with a mid-score of 772. Bank statements reflect sufficient funds to meet the reserve requirement. Loan structured and priced in accordance with the qualification model. Total loan amount 75.00% LTV with 1.17 DSCR.