Exhibit 10.72
LOAN PURCHASE AND SALE AGREEMENT
AMENDMENT NO. 12
By and Between
MERRILL LYNCH CREDIT CORPORATION
AND
PHH MORTGAGE CORPORATION
(f/k/a Cendant Mortgage Corporation)
Dated as of
July 1, 2007
 

[***]   INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL
TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

 

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LOAN PURCHASE AND SALE AGREEMENT
AMENDMENT NO. 12
     LOAN PURCHASE AND SALE AGREEMENT AMENDMENT NO. 12, dated and effective as
of July 1, 2007 (this “Amendment Agreement”), by and between MERRILL LYNCH
CREDIT CORPORATION, a Delaware corporation, with offices located at 4804 Deer
Lake Drive East, Jacksonville, Florida 32246 (“MLCC”), and PHH MORTGAGE
CORPORATION, d/b/a PHH Mortgage Services, f/k/a Cendant Mortgage Corporation, a
New Jersey corporation, with offices located at 3000 Leadenhall Road, Mt.
Laurel, New Jersey 08504 (“PHH”).
     WHEREAS, MLCC and PHH are parties to a Loan Purchase and Sale Agreement,
dated as of December 15, 2000 (as amended and supplemented as of the date
hereof, the “Purchase Agreement”);
     WHEREAS, each of MLCC and PHH desires to amend the Purchase Agreement in
order to properly reflect the current relationship between the parties;
     NOW, THEREFORE, in consideration of the foregoing and the respective
covenants and agreements set forth in this Amendment Agreement, the parties
hereto agree as follows:
     SECTION 1. Amendments to the Purchase Agreement. The Purchase Agreement is
hereby amended as follows:
     (a) Schedule 1. Schedule 1 to the Purchase Agreement is hereby amended by
deleting the text of such Schedule in its entirety and replacing it with the
Schedule 1 attached to this Amendment Agreement.
     (b) Exhibit D. Exhibit D to the Purchase Agreement is hereby amended by
deleting the text of such exhibit in its entirety and replacing it with the
Exhibit D attached to this Amendment Agreement.
     (c) Section 1 of this Amendment Agreement shall be effective as of all
applicable Mortgage Loans purchased and sold under the Purchase Agreement on and
after July 1, 2007.
     SECTION 2. Governing Law. This Amendment Agreement shall be governed by,
and construed in accordance with, the laws of the State of New York.
     SECTION 3. Headings. The descriptive headings contained in this Amendment
Agreement are included for convenience of reference only and shall not affect in
any way the meaning or interpretation of this Amendment Agreement.
     SECTION 4. Counterparts. This Amendment Agreement may be executed
(including by facsimile transmission) in one or more counterparts, and by the
different parties hereto in separate counterparts, each of which when executed
and delivered shall be deemed to be an original but all of which taken together
shall constitute one and the same agreement.

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     SECTION 5. Ratification. Except as amended hereby, the Purchase Agreement
shall remain unmodified and in full force and effect, and is hereby ratified and
confirmed.
     SECTION 6. Defined Terms. Capitalized terms used and not otherwise defined
herein shall have the meanings ascribed thereto in the Purchase Agreement.
     IN WITNESS WHEREOF, the parties hereto have caused this Amendment Agreement
to be executed as of the date first written above by their respective officers
thereunto duly authorized.

              MERRILL LYNCH CREDIT CORPORATION
 
       
 
  By:   /s/ Susan R. Longergan
 
       
 
  Name:   Susan R. Longergan
 
  Title:   President
 
            PHH MORTGAGE CORPORATION
 
       
 
  By:   /s/ Gregory A. Gentek
 
       
 
  Name:   Gregory A. Gentek
 
  Title:   Senior Vice President

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SCHEDULE 1
Alternative Loans

I.   For Mortgage Loans purchased and sold under the Purchase Agreement from and
after July 1, 2007, but prior to January 1, 2008.

  1.   [***]     2.   [***]/[***]/[***]     3.   [***]/[***]/[***]     4.  
[***]     5.   [***]     6.   [***],[***]/[***]/[***],[***]/[***]/[***],[***],
or [***].     7.   [***]

II.   For Mortgage Loans purchased and sold under the Purchase Agreement from
and after January 1, 2008.

  1.   [***]     2.   [***]/[***]     3.   [***]/[***]     4.  
[***]/[***]/[***]     5.   [***]/[***]/[***]     6.   [***]     7.   [***]    
8.   [***],[***]/[***],[***]/[***],[***]/[***]/[***],[***]/[***]/[***],[***], or
[***].     9.   [***]

 

[***]   INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL
TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

4

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EXHIBIT D
Purchase Price Adjustment — Section 2(a)

                 Mortgage Loan Type   Price Adjustment
[***]
  Principal Balance of Mortgage Loan at closing multiplied by [***]%
 
   
[***]/[***]
  Principal Balance of Mortgage Loan at closing multiplied by [***]%1
 
   
[***]/[***]
  Principal Balance of Mortgage Loan at closing multiplied by [***]%
 
   
[***]/[***]
  Principal Balance of Mortgage Loan at closing multiplied by [***]%

Purchase Price Adjustment — Section 2(e)

                 Mortgage Loan Type   Price Adjustment
[***]
  Principal Balance of Mortgage Loan at closing multiplied by [***]%
 
   
[***]
  Principal Balance of Mortgage Loan at closing multiplied by [***]%

 

1   In the event that aggregate [***]/[***]originations during any calendar year
exceed [***], the Price Adjustment for [***]/[***] in excess of [***]shall equal
the principal balance of each such [***]/[***] at closing multiplied by [***]%.
  [***]   INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL
TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.