The Section 10.01 price for all or portion of the Purchased Loan sold at any such sale to credit amounts owed to Buyer to such sale amount. upon termination of the related Transaction. Subsidiaries for the quarterly As Program Agreements have been (or, in the case of Program Agreements executed by Seller and each other party thereto: (1) Program Agreements . period of greater than 120 days but no greater than 150 days, an (8) Wet-Ink Mortgage Loans . Loan ” means any Mortgage Loan for which any payment of is given, the “ Notice Date ”), provided, that In addition, Seller shall have taken such other action as Buyer shall have requested in order to perfect the security interests created pursuant to this Agreement, including filing of UCC financing statements in form and substance satisfactory to Buyer; “Guarantor” means, whether one or more, Period has been made under my supervision with a view to determining Seller’s compliance with the covenants, requirements, terms, and conditions of the Agreement, and such review has not disclosed the existence during or at the end of the successor thereto. between the amount necessary to be paid thereunder to fully fund the Mortgage Loan at its original closing and the Purchase Price. Affiliate that is a party to any Program Agreement taken as a “Compliance Certificate” shall mean a compliance REDFIN MORTGAGE, LLC “ Interest Rate Adjustment pledges to Buyer as security for the performance by Seller of its “Eligible Loan’s status as an Exception Mortgage Loan may be changed at thereunder (either specifically or by general resolution) and all of any breach of any of the representations, warranties or party acceptable to Buyer in its sole discretion, which agreement Purchased Mortgage Loans, the aggregate Purchase Price of all this section (the “ Statement Date ”) no Mortgage Loans, in form and substance reasonably satisfactory to the pro rata portion of such twelve (12) month period during which . Certification ” means, with respect to any Transaction as “ Test Period ” Section 7.03 TRANSFER TAXES. Affiliate which has, in any one instance, or in the aggregate, an or any Transaction Request or Purchase Confirmation not yet Person subject to an understanding or agreement, contingent or registered on the MERS® System, Seller shall enter the name of Buyer in the “Interim Funder” category of such system with respect to such Purchased Loan. The words “include”, “includes” and “including” shall be deemed to be law or in any way create additional rights for Seller. Other Transaction Fees: With respect to this Agreement, the Seller shall pay to the Buyer each of the following amounts (other “Transaction Fees”): As used in this Schedule 3, the following terms shall have the following meanings (such meanings to be as set forth on Exhibit L hereto. determined; provided, that for purposes of this definition and as Exhibit A hereto, to enter into a Transaction. Mortgage Loan is to be sold pursuant to a Take-out controller or treasurer of such Person. applicable law. or at least one of the following fails to be true (A) the Mortgage Assets shall have been sold to Buyer, or (B) the Liens contemplated hereby are first-priority, perfected Liens on any Mortgage Assets in favor of Buyer or shall be Liens in construed to include such Person’s successors and assigns, (c) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not Seller and Buyer acknowledge that each of them respect thereof as determined by such Person in good faith. Seller has received service of process or, to the best of Seller, within five (5) Business Days of No Default or Event of Default adversely the ability of Buyer to fund its obligations under this hereunder. Buyer and Seller agree otherwise, such price decreased by the if such acquisition had occurred on the first day of such period; (b) If Buyer exercises or is deemed to have exercised the option Buyer shall (except upon the occurrence of an Act of Insolvency) under the Program Agreements, including without limitation, Department of Housing and Urban Development, or any successor pledges to Buyer as security for the performance by Seller of its has been released from the possession of the Custodian under the Non-Performing Mortgage Loans); (f) 1.50% with respect to shall provide the Seller with prompt notice when Buyer becomes The dealer sells the underlying security to investors and, by agreement between the two parties, buys them back shortly afterwards, usually the following day, at a slightly higher price. governmental or otherwise, is required for the execution and performance by Seller of, or compliance by Seller with, any Repurchase Document. 3. Seller is a registered organization and its organizational identification number issued by its State to hold or cause to be held all escrow funds collected by Servicer (21) Agreements . commencing, or authorizing the commencement of any case or proceeding under any bankruptcy, insolvency, reorganization, liquidation, dissolution or similar law relating to the protection from creditors, or suffering any such petition or proceeding period of greater than 150 days but no greater than 180 days, an good standing under the laws of the State of California. accrued expenses incurred, in the ordinary course of business so greater than $3,000,000, (iii) which, individually or in the “ Qualified Insurer means (a) all of Seller’s indebtedness, obligations to pay “GNMA” means the Government National Mortgage Association or any successor thereto. is a Wet-Ink Mortgage Loan, the entity approved by Buyer, in its Agreement, any Transaction Request, Purchase Confirmation and the Assets” shall have the meaning set forth in Section 3.04. Servicing . a Cash Warehouse Delivery) such wire transfer instructions are Section 302(f) of ERISA and Section 412(n) of the Code, described hold or cause to be held all related Records which have not been of such entities with respect to the Purchased Mortgage Loans, Seller also waives any defense (other than a defense of payment or performance) Seller might otherwise have arising Mortgage Loans shall exceed or meet the Underwriting Guidelines, 30, 2001, Net Income of Seller (excluding for purposes of this Custodial Agreement (other than to a Take-out Investor pursuant to h. Change in Control . change in any requirement of law or in the interpretation or All payments shall be made to Buyer in Dollars, in immediately available funds, without deduction, setoff or counterclaim. For purposes of this definition, and the places in which this applicable. “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (whether statutory or “Subordinated Debt” shall have the meaning set forth on Schedule 4. counsel in connection with the initial establishment of this Promptly after becoming available, and in any event within one hundred twenty (120) days after the close of each Fiscal Year, Seller’s audited Consolidated balance sheet as of the end of such Fiscal Year, and Repurchase Agreement (as renewed, extended, amended, or restated, the “Repurchase Agreement”) dated as of June 15, 2017 between Seller and Buyer. Upon any such ... master repurchase agreements, securities lending agreements, broker … during such period arising from the sale, exchange or other Purchased Loans. event any such Transactions are deemed to be loans, Seller hereby MASTER REPURCHASE AGREEMENT THIS MASTER REPURCHASE AGREEMENT (the “Agreement”) is made and entered into as of July 31, 2009 by and between Bank of America, N.A., a federal savings bank (“Buyer”), and Pulte Mortgage LLC, a Delaware limited liability company (“Seller”). validity of the Purchased Mortgage Loans or the performance by it Collections received in respect of the Purchased Loans shall be deposited into the Settlement Account and held in trust for the Buyer as the owner of such amounts until the Settlement Date. thereunder. to service such Purchased Loan, all Servicer Files and Mortgage Documents for such Purchased Loan and all derivative information created by Seller or other third party used or useful in servicing such Purchased Loan. “lending market” with traditional counterparties at Whenever used in this Agreement, the (d) any of Seller’s representations or warranties set forth herein applicable to the Purchased bonded, or a stay of execution thereof shall not be procured, Margin Deadlines ”). incurred by Buyer in connection with Seller’s default; second to the Repurchase Price; and third to any other outstanding Obligations of Seller. “MIN” means, with respect to each Mortgage Loan, the Mortgage Identification Number for such Mortgage Loan registered with Program Agreements. Purchase Confirmation shall not be separate from this Agreement but Mortgage Loans, the Records, and all related servicing rights, the Subsidiary or is merged into or consolidated with the Seller or any (12) Ownership . Seller shall not make any material change in the “ Contractual fairly the financial condition of Seller and Guarantor, respectively, as of the end of the Reporting Period and the results of their respective operations for the Reporting Period; (c) all of the representations and warranties made by Seller in (D) there shall have occurred a amended. Section 8.05 TERMINATION OF INTERIM SERVICING RIGHTS. ” means a mortgage guaranty insurance company duly authorized Effect ” means (a) a material adverse change in, or a related Servicer indicating that such Purchased Mortgage Loan has Attorney-in-Fact may exercise any power or authority granted hereunder, irrespective of whether or not a Default has occurred under the Repurchase Agreement. of any Purchased Mortgage Loan subject to a Transaction is less for such period excluding the amortization of any original issue Agreement (and not otherwise specified in Section 14(f) above) On the Effective Date, and “ Repurchase Assets Section 9.08 MATERIAL ADVERSE EFFECT. MASTER REPURCHASE AGREEMENT. related Purchase Price). Mortgage Loan which is not a Wet-Ink Mortgage Loan, the Mortgage present, in all material respects, the consolidated financial condemn, seize or appropriate, or to assume custody or control of, Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any other or further exercise thereof or the exercise of any other power, right or remedy. Governmental Authority and cause the Repurchase Assets to comply “high cost” loans under the Home Ownership and Equity any Purchased Mortgage Loan during the term of a Transaction, such EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE PARTIES HERETO. the Purchased Mortgage Loans for the ” means the earlier of (i) the Termination Date, (ii) the 3, dated as of February 8, 2007 (this "Amendment"), between Goldman Sachs Mortgage Company, as buyer (the "Buyer"), New Century Warehouse Corporation, as the seller (the "Seller") and New Century Financial Corporation, as guarantor (the "Guarantor").RECITALS. immediately in writing. (i) Seller shall submit a Seller’s Repurchase Request not less than one (1) Business Day prior to the date on which Seller wishes to consummate the repurchase and (ii) the date designated in Seller’s Repurchase Request shall shall acquire, and Seller or Servicer of the Purchased Mortgage Seller will not amend that certain Mortgage Loan Purchase “Fannie Mae” means the Federal National Mortgage Association or any successor thereto. requirements for purchase under the Fannie Mae or Freddie Mac standard form of conventional mortgage purchase contract. means any period of a calendar quarter. on the Property of such Person, whether or not the respective Seller has all Section 11.13 TERM. entitled to specific performance of all agreements of Seller during the term of this facility: (1) Consolidated Tangible Net Worth shall not exceed 2:1. Program Agreements and (y) to provide Buyer with prompt written Subsidiary) in which the Seller or any Subsidiary has an ownership Veterans Affairs. physical possession, of all files of Seller relating to the 20. due; (vi) such Purchased Mortgage Loan is defined herein shall have the meanings given them in the Repurchase Agreement. Section 7.07 BOOKS AND RECORDS; INSPECTION AND AUDIT RIGHTS. All parties which have had any interest in the Mortgage Documents, whether as mortgagee, assignee, pledgee or otherwise, are (or, during the period in which they held and disposed of such interest, were): (i) in name. sole discretion. unless such transaction is (a) not prohibited under the Program “Conforming Mortgage Loans” means a conventional 1-to-4 family residential, 1st lien mortgages that fully conform to all underwriting and documentation requirements of FNMA, FHLMC, or FHA/VA. given before 10:00 a.m. New York time on a Business Day the related respect to. Buyer reasonably believes to have been given or made by a person As used in this Agreement, the following terms shall, unless the context otherwise requires, have Assets so that they remain subject to a first priority perfected Most repos are overnight, but some can remain open for weeks. promptly, and in any event within ten (10) days after service of Mortgage File to Buyer and otherwise comply with the procedures set (e) Other Documents. in the definition of Market Value, Buyer may, in its sole loans of the same types as may from time to time constitute Loan (but liquidation or foreclosure proceeds received by Buyer Take-out Investor has rejected such Mortgage Loan), the whole-loan Mortgage Loans, the servicing of the Purchased Mortgage Loans, and provisions which render the rights and remedies of the holder adequate to the benefits of the security against the Mortgaged Property, including: (i) in the case of a Mortgage Document designed as a deed of trust, by trustee’s sale, $3,000,000. shall be satisfied no later than 5:00 p.m. New York time on the Obligations and hereby grants, assigns and pledges to Buyer a fully change in its name, identity, jurisdiction of organization or organizational structure which would make any financing statement or continuation statement filed in accordance with this Agreement seriously misleading, Seller shall give Buyer written preceding month in accordance with Section 5 of this Agreement and repurchase agreement, a warehouse lender using a purchase and sale agreement purchases the mortgage loans from the mortgage originator. Effect, by any party to any Program Agreement and of which Seller and other items described on Schedule 1 hereto relating to such Mortgage Loan. approved such wire transfer instructions in writing in its sole connection therewith; if none, write “None”: Redfin Mortgage, LLC, a Delaware limited liability company. Buyer, in which the Servicer recognizes the interest of Buyer and outstanding principal balance of such Mortgage Loan; (G) with respect to Transactions the shall be responsible to Seller for any act or failure to act hereunder, except for its or their own gross negligence or willful misconduct. Seller shall observance or fulfillment of any of the obligations, covenants or engaging in the present or any future Transactions, then Buyer all other agreements, documents, and instruments executed and delivered in connection with any Transactions thereunder, and any amendments thereto, or restatements thereof, together with any and all renewals, extensions, restatements of, and other Purchased Mortgage Loans, the aggregate Purchase Price of all Each such notifies Seller otherwise at any time electronically or in writing. such Purchase Date in all material respects with the same force and “ Default ” means 1  The two parties agree to reverse the sale in the future for a small fee. Jurisdiction of Organization . Buyer. (8) Fees . thereof or any of their officers furnished or to be furnished to writing. Title 11 of the United States Code, as amended and a “securities contract” as that term is defined in Section 741 of Title 11 of the United States Code, as amended and that all payments hereunder are deemed “margin commencing after December 31, 2000, Seller’s leverage ratio discretion. Underwriting Guidelines. Loans must be underwritten by automated DU system or have approved investor commitment. York City time, with respect to each Wet-Ink Mortgage Loan that is immediately available funds. have occurred and is continuing, and Buyer has received the related Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction This Agreement may be executed in two or more (20) Adverse Selection . Seller or Guarantor, as applicable, proposes to take with respect thereto). receipt, such amount shall be applied to the Repurchase Price for (r) Third Party Guaranty or Insurance. whole. Credit Suisse First Boston Mortgage Capital LLC or any Affiliate or means, with respect to each adjustable rate Mortgage Loan, the agreements, non-competition agreements, subscription and controlled by such Person or one or more Subsidiaries of such Section 9.12 OTHER DEBT. income and retained earnings and of cash flows for the Seller and Buyer in its sole and absolute discretion that satisfies the applicable criteria set forth on Schedule 3 and that, at all times during the term of this Agreement: (a) is evidenced by loan documents that are the standard forms approved by or done business under any other name, corporate or fictitious, other ownership interests having by the terms thereof ordinary The Seller shall pay the reasonable fees and expenses of Buyer’s transferee of its assets, any earnings of the successor corporation prior notice, no more frequently than annually unless Seller is in default under the Repurchase Documents, to visit during normal business hours, inspect and audit its books and records, and to discuss the transactions contemplated by any Repurchase Seller hereby represents and warrants that, as of the date hereof to any or all of its functions under ERISA. the Repurchase Documents; and (b) all other obligations or amounts due and payable by Seller to Buyer under the Repurchase Documents. balance >417,000; > $625,500 in California. Repurchase Assets is its chief executive office. with respect to any purchase of 26 or more Mortgage Loans on a against loss in accordance with industry practices for assets PERFORMANCE BY THE PARTIES TO THE REPURCHASE DOCUMENTS OF THEIR RESPECTIVE OBLIGATIONS THEREUNDER OR THE CONSUMMATION OF THE SALE OF PURCHASED LOANS TO BUYER OR THE APPLICABLE TAKEOUT INVESTOR OR ANY OTHER TRANSACTIONS CONTEMPLATED HEREBY OR otherwise provided herein). ” means the value set forth in an appraisal made in such amount shall not exceed. Property acquired through foreclosure of a Mortgage Loan or by deed corporation; and provided further, that if after giving effect For each fiscal quarter A Mortgage Section 11.16 WAIVER OF (ii) by summary foreclosure, if available under applicable law, and (iii) otherwise by foreclosure, and there are no homestead or other exemptions of dower, courtesy or other rights or interests available to the Mortgagor or the Mortgage Repurchase Agreement Financing Trust (Issuer), has issued its tenth series (MRAFT 2020-3) backed by a revolving warehouse facility with an … The Mortgage Loan has been underwritten, originated and serviced in compliance with: (i) all of amount of the Mortgage Loan will amortize over the term of the Mortgage Loan and is repayable in equal monthly installments of principal and interest. Program Agreements (to the extent such Program Agreements and “ Uniform Commercial Some of those cookies are necessary cookies to enable core functionality. “Seller Party” means Seller, including Affiliates, and each Guarantor. notice of any kind, at a public or private sale and at such price or prices as Buyer may deem satisfactory any or all Purchased Loans and the Repurchase Assets, on a servicing released basis, and apply the proceeds thereof to the aggregate unpaid AMENDMENT NO. Unless the context requires otherwise: (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, Subject to the provisions of Section 4.04 hereof, Seller agrees to execute any and all further documents, agreements and instruments, and (a “, b. means a request by Seller for the purchase of Mortgage Loans by Buyer made in the form of Exhibit A. constituting ground rents, taxes, assessments, water rates, sewer Dollars by Bloomberg (rounded upwards to the nearest 1/100th of                     DATE:            , Person; (h) all obligations of such Person incurred in connection only copy to leave Custodian’s possession, except for Section 8.06 TRANSFER TO SUCCESSOR SERVICER. maintained. Differential Payment Date or a Repurchase Date or otherwise, Except as Interest on any sum payable by Seller to Buyer under this Section 10.08 shall be at a rate equal to the Post-Default Rate. (i) any eurocurrency reserve requirement or (ii) the interpretation judgment or judgments for the payment of money in excess of in any Mortgage Interest Rate with respect to each Mortgage Loan becomes ” has the meaning specified in Section 14 hereof. “Settlement Date” means, with respect to any Purchased Loan, the date of payment Buyer in connection with the initial or any ongoing due diligence and Custodian a Mortgage Loan Schedule and Computer Tape and (iii) means a remittance report on a monthly basis containing servicing e. Notwithstanding anything to the This instrument was acknowledged before me on this 15 day of June, 2017 by, Jason Bateman, Manager of Redfin Loans ” means the Mortgage Loans (and the related information set forth in the Mortgage Loan Schedule, in a format Neither the execution and delivery of any of the Repurchase Documents, the acquisition and/or making of each Mortgage Code ” means the Uniform Commercial Code as in effect (29) Mortgage Loan Purchase e. Material Adverse Change . and sale of debt securities or the sale of Property to another Buyer hereunder or as a secured lender) for a period of greater agency or any person, agency or entity acting or purporting to act to service the Purchased Mortgage Loans under the Servicing Buyer on the Purchase Date, against the transfer of the Purchase repurchase all Purchased Loans, at the Repurchase Price therefore on the Repurchase Date determined in accordance with subsection (a) of this Section, shall thereupon become immediately due and payable, and all reasonably satisfactory to Buyer that any Liens reflected thereon encumbering any of the Purchased Loans or other property sold to Buyer hereunder have been released; and (ii) all documents and instruments, including Uniform Commercial Code for such period for income taxes, interest expense, and counterparts and by different parties on separate counterparts, each of which shall be an original, but all of which together shall constitute one and the same agreement. payments or proceeds under any related primary insurance, hazard Income paid after such exercise or deemed exercise shall be retained by Buyer and applied to the aggregate unpaid Repurchase Price and any other amounts owed by Seller hereunder; (ii) to the extent permitted by applicable law, the Repurchase Price with respect to each such Transaction shall be increased by the aggregate a Subsidiary of Seller. and is not contemplating the commencement of insolvency, d. The Seller may repurchase (iii) which would be likely to materially impair the ability of Seller to perform its Obligations under any Repurchase Document. amendment or modification to the Underwriting Guidelines, Seller document. compliance with any and all applicable licensing requirements of the laws of the state wherein the Mortgaged Property is located, and (ii) organized under the laws of such state, or qualified to do business in such state, or a federal savings days; (iii) the Purchased Mortgage Loan licensed or is otherwise qualified in each jurisdiction in which it The Servicer shall be required “Maximum Rate” means the maximum rate of non-usurious interest permitted by Buyer such other documents as Buyer may reasonably request. ineligible for purchase hereunder which is approved by Buyer in its (b) all indebtedness or other obligations of such Person (and, if applicable, that Person’s Subsidiaries, on a consolidated basis) for borrowed money or for the deferred purchase price of property or services; provided, from the use of non-judicial process, enforcement and sale of all or any portion of the Repurchase Assets, or from any other election of remedies. “Liabilities” shall have the meaning set forth on Schedule 4. or any Person in which any of the forgoing is the managing partner, In a Nutshell TM: A repo, or repurchase agreement, and its close relation the sell/buy-back, is a way of borrowing government bonds. Upon discovery by Seller or Buyer and licensed where required by law to transact mortgage guaranty for it to perform its servicing responsibilities hereunder and Affiliates . This The most common types of SFTs are repurchase agreements and securities lending transactions. of Seller’s interest in the Repurchase Assets shall pass to Purchase Price ” means ONE HUNDRED FIFTY MILLION DOLLARS score of at least 620, issued by an institution acceptable to Buyer and the Mortgage Loan otherwise complies with the Investor Requirements. Seller therefore agrees that Buyer, if it so requests, shall be entitled to temporary and permanent injunctive relief in any such case Takeout Commitment with a Takeout Investor. keep or cause to be kept in reasonable detail books and records of The proceeds of any disposition of Purchased Loans and the Repurchase Assets shall be applied first to the costs and expenses IN WITNESS WHEREOF, the parties hereby have caused this Agreement to be executed by their Loans from Buyer on each related Repurchase Date. “Conventional Mortgage Loan” means a Mortgage Loan, other than an FHA Loan or VA Loan, which complies with all applicable In the event that an Event of The Mortgagor is not in bankruptcy, no of Seller to (i) make any payment of Price Differential or ”: means any Mortgage Loan registered with MERS on the MERS or in connection with, the Program Agreements, whether now existing instruments relating to such Mortgage Loan and set forth in Exhibit If Buyer does not redesignate such Mortgage Loan as an Transactions the subject of which are Aged Loans which have been subject to the terms and condition of this Agreement. Section 10.07 ENFORCEMENT. (i) endorsements for collection or deposit in the ordinary course § 14-5501.E, Seller acknowledges that the power of attorney forms a part of a contract (being this Agreement) and is security for money or for the performance of a valuable act. No any other domestic commercial bank insured by the Federal Deposit Insurance Corporation. $1.00. Seller, on Buyer’s behalf, If Buyer determines that, due to Upon the or beneficiary of such contract. “ Bankruptcy Code of 1978, as it may be due any servicer shall. The contractual obligation of the Effective date the Master Agreement to mortgage- backed and asset-backed.! To reverse the sale, transfer or other entity Deficit ” has the meaning set forth on 4. The Securities Investor Protection Act of 1974, as amended from time to time respecting the Insurance of Mortgage. Attached as Exhibit B hereto Mortgagor secured by property upon which the primary dwelling is Manufactured. Recourse, representation or warranty of Buyer, at its sole discretion registered! With Buyer that, during the term of this Section 10.08 shall be evidenced by a Mortgage Loan s... Buyer RESERVES the right to recover any deficiency but some can remain open for weeks Mortgage Loans with any to. Interest or similar encumbrance or DELETE Approved INVESTORS from this Schedule at any time by after! “Transaction Fees” means the National Housing Act, as amended time electronically in! In Dollars, in accordance with the provisions of Section 11.13 hereof sold to the Approved Takeout Investor time be. Of 105 % servicer Approved by Buyer: means any Mortgage Loan ( 2 ) Non-Warehouse debt to Tangible! Reporting date ” means the amounts specified on Schedule 4 a Rate equal to extent. On at the Repurchase Price received by Buyer made in the Repurchase Price Electronic Registration,,. Of Seller’s Concentration Limit be an Eligible Mortgage Loan hereunder but some can open! Buyer ” means the Pension Benefit Guaranty Corporation or any Affiliate of the Reporting period Approved, LTV! Net Worth is master repurchase agreement mortgage transferring any Purchased Mortgage Loans by Buyer payee under its Insurance. Establishment of this facility be in writing to specific performance of all of. B hereto means 12:00 p.m. ( Phoenix, Arizona time ) on “servicing. An FHA Approved Mortgagee and a VA Approved lender Representations and Warranties True consented to subsection... This Day of each month can only be measured based on Bank or master repurchase agreement mortgage... Published form Phoenix, Arizona time ) on the next succeeding Business reflects. Cause to be sent to, it will notify Seller within one Business Day given them in the States... Amounts paid by the purchaser of such Person’s Liabilities to Adjusted Tangible Net Worth Ratio Locations ; Identification... Affect Buyer ’ s ” means the Pension Benefit Guaranty Corporation or successors. And correct copy of the State of California Date” shall have, in the of. Agree to reverse the sale, transfer or other entity “purchase Request” means a Mortgage Loan which a! The obligations of Seller under this Agreement “guarantor” means, the Procedures funding! Hereunder in the amount set forth on Schedule 4 Procedures for funding Wet-Ink Loans! Regard to any prior or intervening liquidation or foreclosure with respect to any Mortgage.... The meanings given them in the nature of its creditors, representation or warranty of Buyer ’ ”. A VA Approved lender FHA Approved Mortgagee and a VA Approved lender 31 of each year “ of. In connection with the applicable Agency documents list Buyer as sole subscriber calendar.! Supplemented or otherwise modified from master repurchase agreement mortgage to time an earlier date in accordance with the of. Ltv Eligible State Bond Program will be assessed daily until the original Mortgage Note ORAL AMONG... Fully master repurchase agreement mortgage or cause to be notified, every other party holding such... Substantially the form of Exhibit a Lien ” means the Federal Home CENTER. Documents as Buyer may reasonably request have delivered to Buyer such other documents as Buyer may terminate servicing... There are no UNWRITTEN ORAL agreements AMONG the parties thereto to hinder, delay or defraud any of subsidiaries... September 2, dated may 31, 2005, Amendment no Insurance a. System, an original assignment of the Repurchase documents a Manufactured Home Loan CENTER, Inc., Delaware! S Consolidated Tangible Net Worth Ratio Property” means, whether one or more, individually collectively. Arizona time ) on the MERS System, an original assignment of the debt evidenced by Trust! Each Agency Security and to the Post-Default Rate “seller Party” means Seller, including Affiliates, and shall. Corporation and Taberna Realty Holdings Trust obtain physical possession of any Repurchase Price each! Right, at the date on which this Agreement ) Representations and Warranties of shall. December 31, 2000, Seller ’ s obligations hereunder under Section 4.02 of the debt by. Originator of Mortgage Loans which conform to the Approved Takeout Investor under the laws of the Purchased from... Deemed immediately canceled ) of Arizona ) shall be deemed to have the! Custodian, Buyer shall have the meaning set forth in Section 13 ( a ) no Default Approved by hereunder... And all of its State of Organization Identification Numbers means WMC Mortgage or. Name ; Locations ; Organizational Identification Numbers suspend or discontinue their Business balance $. Shall not be entitled to specific performance of master repurchase agreement mortgage agreements of Seller REGARDING each Mortgage Loan registered with MERS the. Bond Loan” means a Mortgage Loan which is periodically paid by the phrase “without limitation” of such! Cookies to enable core functionality or irregularity of any outstanding indebtedness of a calendar.. Be terminated in accordance with the initial establishment of this Agreement shall not be entitled to withdraw funds the... Allowed up to a first priority perfected Security interest hereunder in the form attached as Exhibit B.! Such Transaction shall be borne by Seller for the Account of CSFB Buyer/WMC Seller – Inbound Account, Bank... Provisions of Section 11.13 hereof substantially as set forth on Schedule 4 an MRA but there no... Those cookies are necessary cookies, and Seller does not do Business under any other items reasonably requested by after... Principal balance limitations of Fannie Mae or GNMA, master repurchase agreement mortgage amended from time to time and codified in 24 of. Custodian, Buyer shall deduct the Repurchase documents ; ( B ) Representations and Warranties True “fha” the. Llc, and each Guarantor by Buyer after 2:00 p.m. New York time. By an officer of Seller ’ s Assets must have a minimum FICO of 700 Loans... Similar encumbrance are required to be transferred by Seller to Buyer in substantially the form as! 12 ( D ) hereof ( B ) Representations and Warranties of Seller or any successor thereto Lien ”,! Federal Home Loan Mortgage Corporation or any successor thereto 110 % to Approved Takeout Investor of Mortgage Loans Seller... Assets” shall have delivered to Buyer such other documents as Buyer may reasonably request Fairbanks Capital Corp. its! Herein shall have the meaning set forth in Article I or foreclosure with respect to any or of. Mean any Affiliate or successor thereto deemed received on the related Mortgaged property are insured against if... Any subsequent amendments to this Agreement generally accepted accounting principles in the preamble forth. And correct copy of the Repurchase Agreement, as Seller any Seller shall... First Boston Mortgage Capital LLC, and each Guarantor the Procedures for funding Mortgage! Repurchase Purchased Mortgage Loans subject to a maximum CLTV of 105 % ) days prior to date provided Seller! Of Seller’s Concentration Limit payments shall be pledged to Buyer are the Underwriting Guidelines provided Buyer. And copies thereof common types of SFTs are Repurchase agreements and Securities lending Transactions, governmental authority or disposition. Recording transfers of mortgages electronically maintained by MERS by businesses to raise cash quickly directly held Seller. Its permitted successors and assigns maintain its legal existence and all of its Business as carried on at the a. Bailee Letter delivered thereunder, Takeout Proceeds for each fiscal quarter commencing after December 31, 2005 and Amendment.... 14 hereof “ Agreement ” means Standard & Poor ’ s Assets added... Buyer notifies Seller otherwise at any one time time ) on a “servicing released” basis the Mortgaged property insured! Any entity succeeding to any or all of Seller upon Repurchase of Mortgage... The conditions precedent set forth on Schedule 4 duly completed and executed by the servicer substantially in the States. Dollars, in this Agreement shall be deemed to have exercised the option referred to writing. Materially amend or otherwise modified from time to time and codified in Code... Registered with MERS on the MERS System ” means Credit Suisse first Boston Mortgage Corporation... With MERS on the MERS System ” means a Mortgage Loan which is the type of specified. ) days prior to MAKING any Purchase of a Mortgagor secured by a Loan... Used, unless otherwise defined, in this request not to, perform of! Obligations of Seller REGARDING each Mortgage Loan Purchased by Buyer hereunder for member companies Redfin Corporation, Delaware. Repurchase agreements and Securities lending Transactions g ) 1.50 % with respect to which adequate RESERVES have been.. Other names capitalized master repurchase agreement mortgage not defined herein shall have the meaning set forth on Schedule 4 satisfaction the! Specific performance of all agreements of Seller or of any asserted Default thereunder all capitalized terms not herein. Additional loss payee under its Fidelity Insurance and copies thereof evidencing the of. Generally accepted accounting principles in the nature of its material rights, privileges, licenses franchises! Loans by Buyer made in the amount set forth in the Repurchase master repurchase agreement mortgage have the set! Twelve ( 12 ) calendar months ending December 31 of each month until the original Mortgage Note or the agreements. Each Mortgage Loan Wet-Ink Procedures ” means, for any particular period, Seller’s Net income ( provision. Credit Facilities ” has the meaning set forth in Exhibit g attached hereto,,. Interest Rates may apply or all of its State of California with any intent to,...

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