EX-10.159



 Exhibit 10.159 

EXECUTION 
 AMENDMENT NO.
10 
 TO MORTGAGE LOAN PARTICIPATION PURCHASE AND SALE AGREEMENT 

Amendment No. 10 to Mortgage Loan Participation Purchase And Sale Agreement, dated as of December 22, 2015 (this
“Amendment”), by and among Bank of America, N.A. (“Purchaser”), PennyMac Corp. (“Seller”), PennyMac Mortgage Investment Trust and PennyMac Operating Partnership, L.P. (individually and collectively,
the “Guarantor”). 
 RECITALS 

Purchaser, Guarantor and Seller are parties to that certain Mortgage Loan Participation Purchase And Sale Agreement, dated as of
December 23, 2011 (as amended, restated, supplemented or otherwise modified from time to time, the “Existing MLPSA”; and as further amended by this Amendment, the “MLPSA”). The Guarantor is a party to that
certain Guaranty (as amended, restated, supplemented or otherwise modified from time to time, the “Guaranty”), dated as of December 23, 2011, made by Guarantor in favor of Purchaser. 

Purchaser, Seller and Guarantor have agreed, subject to the terms and conditions of this Amendment, that the Existing MLPSA be amended to
reflect certain agreed upon revisions to the terms of the Existing MLPSA. As a condition precedent to amending the Existing MLPSA, Purchaser has required Guarantor to ratify and affirm the Guaranty on the date hereof. 

Accordingly, Purchaser, Seller and Guarantor hereby agree, in consideration of the mutual promises and mutual obligations set forth herein,
that the Existing MLPSA is hereby amended as follows: 
 Section 1. Definitions. Section 1 of the Existing MLPSA is hereby
amended by deleting the definition of “Expiration Date” in its entirety and replacing it with the following: 

“Expiration Date”: The earlier of (i) March 29, 2016, (ii) at Purchaser’s option, upon the
occurrence of an Event of Default, and (iii) the date on which this Agreement shall terminate in accordance with the provisions hereof or by operation of law. 

Section 2. Fees and Expenses. Seller hereby agrees to pay to Purchaser, on demand, any and all reasonable fees, costs and expenses
(including reasonable fees and expenses of counsel) incurred by Purchaser in connection with the development, preparation and execution of this Amendment, irrespective of whether any transactions hereunder are executed. 

Section 3. Conditions Precedent. This Amendment shall become effective as of the date hereof (the “Amendment Effective
Date”), subject to the satisfaction of the following conditions precedent: 
 3.1 Delivered Documents. On the Amendment
Effective Date, the Purchaser shall have received this Amendment, executed and delivered by a duly authorized officer of Purchaser, Seller and Guarantor. 







 3.2 Facility Fee. Seller shall have paid to Purchaser in immediately available funds that
portion of the Facility Fee attributable to the extension of the Expiration Date and due and payable on the Amendment Effective Date. 

Section 4. Limited Effect. Except as expressly amended and modified by this Amendment, the Existing MLPSA shall continue to be,
and shall remain, in full force and effect in accordance with its terms. 
 Section 5. Counterparts. This Amendment may be
executed by each of the parties hereto on any number of separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument. 

Section 6. Severability. Each provision and agreement herein shall be treated as separate and independent from any other provision
or agreement herein and shall be enforceable notwithstanding the unenforceability of any such other provision or agreement. 

SECTION 7. GOVERNING LAW. THE AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN
ACCORDANCE WITH, AND GOVERNED BY, THE LAW OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PRINCIPLES THEREOF. 

Section 8. Reaffirmation of Guaranty. The Guarantor hereby (i) agrees that the liability of Guarantor or rights of Purchaser
under the Guaranty shall not be affected as a result of this Amendment, (ii) ratifies and affirms all of the terms, covenants, conditions and obligations of the Guaranty and (iii) acknowledges and agrees that such Guaranty is and shall
continue to be in full force and effect. 
 [SIGNATURE PAGE FOLLOWS] 

  
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 IN WITNESS WHEREOF, the parties have caused their names to be signed hereto by their respective
officers thereunto duly authorized as of the day and year first above written. 
  

			
	BANK OF AMERICA, N.A., as Purchaser
		
	By:	 	 /s/ Adam Robitshek

	Name:	 	Adam Robitshek
	Title:	 	Vice President
	
	PENNYMAC CORP., as Seller
		
	By:	 	 /s/ Pamela Marsh

	Name:	 	Pamela Marsh
	Title:	 	Executive Vice President, Treasurer
	
	PENNYMAC MORTGAGE INVESTMENT TRUST, as Guarantor
		
	By:	 	 /s/ Pamela Marsh

	Name:	 	Pamela Marsh
	Title:	 	Executive Vice President, Treasurer
	
	PENNYMAC OPERATING PARTNERSHIP, L.P., as Guarantor
		
	By:	 	PennyMac GP OP, Inc., its General Partner
		
	By:	 	 /s/ Pamela Marsh

	Name:	 	Pamela Marsh
	Title:	 	Executive Vice President, Treasurer


 Signature Page to Amendment No. 10 to MLPSA