Document:

EX-10.72

 Exhibit 10.72 
 EXECUTION 
 AMENDMENT NUMBER THREE 

to the 
 MASTER
REPURCHASE AGREEMENT 
 Dated as of May 24, 2012, 
 among 
 PENNYMAC CORP., 

PENNYMAC LOAN SERVICES, LLC 
 and 
 CITIBANK, N.A. 

This AMENDMENT NUMBER THREE (this “Amendment Number Three”) is made this 31st day of December, 2012, among PENNYMAC CORP.
(“Seller”), PENNYMAC LOAN SERVICES, LLC (“Servicer”) and CITIBANK, N.A. (“Buyer”), to the Master Repurchase Agreement, dated as of May 24, 2012, among Seller, Servicer and Buyer, as such
agreement may be amended from time to time (the “Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Agreement. 

RECITALS 

WHEREAS, Seller and Buyer have agreed to amend the Agreement to modify certain definitions, financial and reporting representations,
warranties, certifications and covenants, as more specifically set forth herein; and 
 WHEREAS, as of the date hereof, Seller
represents to Buyer that the Seller Parties are in full compliance with all of the terms and conditions of the Agreement and each other Program Document and no Default or Event of Default has occurred and is continuing under the Agreement or any
other Program Document. 
 NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and for the mutual covenants herein contained, the parties hereto hereby agree as follows: 
 SECTION 1.
Amendment. Effective as of December 31, 2012 (the “Amendment Effective Date”), the Agreement is hereby amended as follows: 
 (a) Section 2 of the Agreement is hereby amended by deleting the definition of “Adjusted Tangible Net Worth” in its entirety and replacing it with the following: 

“Adjusted Tangible Net Worth” shall mean, with respect to any Person, as of any date of determination, the excess of such
Person’s total assets (including mortgage servicing rights in an amount less than or equal to the MSR Value Cap), net of goodwill and intangible assets, over its total liabilities, calculated in accordance with GAAP as reflected on such
Person’s financial statements. 
 (b) Section 2 of the Agreement is hereby amended by adding the new definition of
“MSR Value Cap” as follows: 
 “MSR Value Cap” shall mean the value assigned to a Person’s
aggregate portfolio of mortgage servicing rights; provided, however, in any case such value shall not exceed the product of (i) 4.0, multiplied by (ii) the weighted average servicing fee for all mortgage loans underlying the mortgage
servicing rights, multiplied by (iii) the unpaid principal balance of the mortgage loans underlying the mortgage servicing rights. 

 (c) Section 2 of the Agreement is hereby amended by deleting the definition of
“Valuation Agent” in its entirety and replacing it with the following: 
 “Valuation Agent” shall mean
a qualified, unaffiliated third party (acceptable to Buyer in its sole discretion including but not limited to any independent third party appointed by the Buyer in its sole discretion pursuant to Section 43(e)) that specializes in establishing
a fair market value of servicing portfolios with respect to mortgage loans substantially similar to the Loans originated or acquired by a Seller Party, as applicable. 
 (d) Section 12 of the Agreement is hereby amended by deleting clause “(p)(i)” contained therein, in its entirety and replacing it with the following: 

(i) (A) the ratio of Seller’s Total Indebtedness to its Adjusted Tangible Net Worth is not greater than 10:1;
(B) Seller’s Liquidity is not less than $7,500,000 as of the last day of the prior calendar month; (C) Seller’s consolidated net income has been equal to or greater than $1.00 for at least one (1) of the previous two
(2) consecutive fiscal quarters, as of the end of the last fiscal quarter; and (D) Seller’s Adjusted Tangible Net Worth is greater than or equal to $140,000,000. 

(e) Section 13 of the Agreement is hereby amended by adding new clause “(a)(xvii)” thereto as follows: 

(xvii) Within (i) three (3) Business Days after receipt by a Seller Party (to the extent such Seller Party owns any servicing
rights with respect to any mortgage loans) of a request from Buyer, the servicing valuation conducted by such Seller Party and used to support the calculation of the servicing multiple used in determining the book value of such Seller Party’s
servicing portfolio in accordance with GAAP; and (ii) if so requested by Buyer, within (3) Business Days of its completion, the servicing valuation conducted by a Valuation Agent with respect to the value of such Seller Party’s
servicing portfolio in accordance with GAAP; 
 (f) Section 13 of the Agreement is hereby amended by deleting clause (q)(i)
contained therein and replacing it with the following: 
 (i) Financial Covenants of Seller. Seller shall comply with the
following financial covenants: (A) the ratio of Seller’s Total Indebtedness to its Adjusted Tangible Net Worth shall not at any time be greater than 10:1; (B) Seller shall maintain Liquidity as of the last day of the prior calendar
month in an amount of not less than $7,500,000; (C) the Adjusted Tangible Net Worth of Seller shall at all times be greater than $140,000,000; and (D) Seller’s consolidated net income shall be equal to or greater than $1.00 for at
least one (1) of the previous two (2) consecutive fiscal quarters, as of the end of each fiscal quarter. 
 (a)
Exhibit A of the Agreement is hereby amended by deleting the Exhibit in its entirety and replacing it with Exhibit A attached hereto. 
 SECTION 2. Fees and Expenses. Seller agrees to pay to Buyer all reasonable out of pocket costs and expenses incurred by Buyer in connection with this Amendment Number Three (including any
Commitment Fee due an payable, all reasonable fees and out of pocket costs and expenses of the Buyer’s legal counsel) in accordance with Sections 23 and 25 of the Agreement. 

  
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 SECTION 3. Representations. Seller hereby represents to Buyer that as of the
date hereof, Seller is in full compliance with all of the terms and conditions of the Agreement and each other Program Document and no Default or Event of Default has occurred and is continuing under the Agreement or any other Program Document.

 SECTION 4. Binding Effect; Governing Law. This Amendment Number Three shall be binding and inure to the benefit
of the parties hereto and their respective successors and permitted assigns. THIS AMENDMENT NUMBER THREE SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY, THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS
PRINCIPLES THEREOF (EXCEPT FOR SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
 SECTION 5. Counterparts.
This Amendment Number Three 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. Limited Effect. Except as amended hereby, the Agreement shall continue in full force and effect in accordance with
its terms. Reference to this Amendment Number Three need not be made in the Agreement or any other instrument or document executed in connection therewith, or in any certificate, letter or communication issued or made pursuant to, or with respect
to, the Agreement, any reference in any of such items to the Agreement being sufficient to refer to the Agreement as amended hereby. 
 [Signature Page Follows] 

  
 3 

 IN WITNESS WHEREOF, Seller, Servicer and Buyer have caused this Amendment Number Three to be
executed and delivered by their duly authorized officers as of the day and year first above written. 
  

			
	PENNYMAC CORP.
	(Seller)
		
	By:	 	/s/ Anne D. McCallion
	Name: Anne D. McCallion
	Title: Chief Financial Officer

  

			
	PENNYMAC LOAN SERVICES, LLC,
	(Servicer)
		
	By:	 	/s/ Anne D. McCallion
	Name: Anne D. McCallion
	Title: Vice President, Finance

  

			
	CITIBANK, N.A.
	(Buyer)
		
	By:	 	Susan Mills
	Name: Susan Mills
	Title: Vice President, Citibank, N.A.

  
 Amendment Number Three to
Master Repurchase Agreement (PMAC Agency)EX-10.80

 Exhibit 10.80 
 EXECUTION 
 AMENDMENT NO. 1 

TO MASTER REPURCHASE AGREEMENT 
 Amendment No. 1, dated as of May 8, 2013 (this “Amendment”), among CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC (the “Buyer”), PENNYMAC OPERATING
PARTNERSHIP, L.P. (the “Seller”) and PENNYMAC MORTGAGE INVESTMENT TRUST (the “Guarantor”). 

RECITALS 

The Buyer, the Seller and the Guarantor are parties to that certain Master Repurchase Agreement, dated as of September 28, 2012 (as
amended, the “Existing Repurchase Agreement”; and as further amended by this Amendment, the “Repurchase Agreement”). The Guarantor is a party to that certain Guaranty (the “Guaranty”), dated as of
September 28, 2012, as the same may be further amended from time to time, by the Guarantor in favor of Buyer. Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Existing Repurchase Agreement and
Guaranty, as applicable. 
 The Buyer, the Seller and the Guarantor have agreed, subject to the terms and conditions of this
Amendment, that the Existing Repurchase Agreement be amended to reflect certain agreed upon revisions to the terms of the Existing Repurchase Agreement. As a condition precedent to amending the Existing Repurchase Agreement, the Buyer has required
the Guarantor to ratify and affirm the Guaranty on the date hereof. 
 Accordingly, the Buyer, the Seller and the Guarantor
hereby agree, in consideration of the mutual promises and mutual obligations set forth herein, that the Existing Repurchase Agreement is hereby amended as follows: 
 SECTION 1. Definitions. Section 2 of the Existing Repurchase Agreement is hereby amended by: 
 1.1 deleting the definitions of “Aged 75 Day Loan”, “Aged 90 Day Loan”, “Aging Limit”, “Mortgage Loan” and “Termination
Date” in their entirety and replacing them with the following: 
 “Aged 75 Day Loan”
means a Mortgage Loan other than a Jumbo Mortgage Loan which has been subject to a Transaction hereunder for a period of greater than 60 days but not greater than 75 days. 

“Aged 90 Day Loan” means a Mortgage Loan other than a Jumbo Mortgage Loan which has been subject to a
Transaction hereunder for a period of greater than 75 days but not greater than 90 days. 
 “Aging
Limit” means (i) with respect to Aged Loans other than Aged Jumbo Loans, 90 days and (ii) with respect to Aged Jumbo Loans, 60 days. 

  

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 “Mortgage Loan” means any closed Conforming Mortgage Loan,
FHA Loan, VA Loan, Jumbo Mortgage Loan or Conforming High LTV Loan, which is a fixed or floating-rate, one-to-four-family residential mortgage loan evidenced by a promissory note and secured by a first lien mortgage, which satisfies the requirements
set forth in the Underwriting Guidelines and Section 13.b hereof; provided, however, that, except with respect to Conforming High LTV Loans and as expressly approved in writing by Buyer, Mortgage Loans shall not include any “high-LTV”
loans (i.e., a mortgage loan having a loan-to-value ratio in excess of (a) with respect to FHA Loans or VA Loans, 97%, (b) with respect to Conforming Mortgage Loans, 95% (provided that Conforming Mortgage Loans, other than Conforming High
LTV Loans, with an LTV of 80% or higher must be covered by primary mortgage insurance) or (c) such lower percentage set forth in the Underwriting Guidelines). 

“Termination Date” means the earliest of (a) the Rolling Termination Date; provided that if the
Buyer does not deliver a Rolling Termination Notice on or before November 1, 2013, the Termination Date shall be October 31, 2014 and (b) the date of the occurrence of an Event of Default. 

1.2 adding the definitions of “Aged Jumbo Loan”, “Jumbo Mortgage Loan”, “Restricted
Cash”, “Rolling Termination Date” and “Rolling Termination Notice” in their proper alphabetical order: 
 “Aged Jumbo Loan” means a Jumbo Mortgage Loan which is an Aged 60 Day Loan. 
 “Jumbo Mortgage Loan” means a Mortgage Loan with an original principal balance in an amount in excess of the then applicable conventional conforming limits, including general limits and
high-cost area limits, for Mortgaged Properties securing Mortgage Loans in such county or local area; provided, however, that Jumbo Mortgage Loans shall not include any Mortgage Loan with an original principal balance in excess of $2,000,000.

 “Restricted Cash” means for any Person, any amount of cash of such Person that is contractually required to
be set aside, segregated or otherwise reserved. 
 “Rolling Termination Date” means, with respect to any date,
the date which is 364 days from such date; provided, that on and after the date, if any, on which the Buyer delivers to the Seller a Rolling Termination Notice (the “Rolling Termination Notice Date”) the Rolling Termination Date shall be
fixed at the date that is 364 days following the Rolling Termination Notice Date. 
 “Rolling Termination
Notice” means written notice that the Buyer shall no longer roll the Rolling Termination Date forward. 
 SECTION 2.
Covenants. Section 14 of the Existing Repurchase Agreement is hereby amended by deleting Section 14.dd in its entirety and replacing it with the following: 
 “dd. Financial Covenants. Seller and Guarantor shall at all times comply with all financial covenants and/or financial ratios set forth below. 

  

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	 	(i)	Adjusted Tangible Net Worth. (A) Seller shall maintain an Adjusted Tangible Net Worth of at least $700,000,000, and (B) Guarantor shall maintain an
Adjusted Tangible Net Worth of at least $860,000,000. 

  

	 	(ii)	Indebtedness to Adjusted Tangible Net Worth Ratio. Seller’s ratio of Indebtedness (on and off balance sheet) to Adjusted Tangible Net Worth shall not exceed
5:1. Guarantor’s ratio of Indebtedness (on and off balance sheet) to Adjusted Tangible Net Worth shall not exceed 5:1. 

  

	 	(iii)	Maintenance of Profitability. Seller shall maintain profitability of at least $1.00 in Net Income for at least one of the two prior Test Periods.

  

	 	(iv)	Maintenance of Liquidity. The Seller and the Guarantor shall ensure that, as of the end of each calendar month, they have consolidated cash and Cash Equivalents
other than Restricted Cash in amounts not less than (i) with respect to the Seller, $40,000,000, and (ii) with respect to the Guarantor, $40,000,000.” 

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 Buyer shall have received the following documents, each of which shall be satisfactory to the Buyer in form and substance: 
 (a) this Amendment, executed and delivered by duly authorized officers of the Buyer, the Seller and the Guarantor; 
 (b) Amendment No. 2, dated as of the date hereof to that certain Pricing Side Letter dated September 28, 2012, among Buyer, Seller and Guarantor; and 

(c) such other documents as the Buyer or counsel to the Buyer may reasonably request. 

SECTION 4. Representations and Warranties. Seller hereby represents and warrants to the Buyer that it is in compliance with all
the terms and provisions set forth in the Repurchase Agreement on its part to be observed or performed, and that no Event of Default has occurred and is continuing, and hereby confirms and reaffirms the representations and warranties contained in
Section 13 of the Repurchase Agreement. 
 SECTION 5. Limited Effect. Except as expressly amended and modified by
this Amendment, the Existing Repurchase Agreement shall continue to be, and shall remain, in full force and effect in accordance with its terms. 
 SECTION 6. Counterparts. This Amendment may be executed by each of the parties hereto on any number of separate counterparts (including by facsimile or .pdf), each of which shall be an original and
all of which taken together shall constitute one and the same instrument. 

  

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 SECTION 7. Severability. Any provision of this Amendment which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 SECTION 8.
GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE CHOICE OF LAW PROVISIONS THEREOF. 

SECTION 9. Reaffirmation of Guaranty. The Guarantor hereby ratifies and affirms all of the terms, covenants, conditions and
obligations of the Guaranty and acknowledge and agree that the term “Obligations” as used in the Guaranty shall apply to all of the Obligations of Seller to Buyer under the Pricing Side Letter and the Repurchase Agreement, as amended
hereby. 
 [Remainder of page intentionally left blank] 

  

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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. 
  

					
	Credit Suisse First Boston Mortgage Capital LLC, as Buyer
		
	By:	 	/s/ Adam Loskove
		 	Name:	 	Adam Loskove
		 	Title:	 	Vice President

  

					
	PennyMac Operating Partnership, L.P., as Seller
		
	By:	 	/s/ Pamela Marsh
		 	Name:	 	Pamela Marsh
		 	Title:	 	Managing Director, Treasurer

  

					
	PennyMac Mortgage Investment Trust, as Guarantor
		
	By:	 	/s/ Pamela Marsh
		 	Name:	 	Pamela Marsh
		 	Title:	 	Managing Director, Treasurer

  
 Signature Page to
Amendment No. 1 to Master Repurchase Agreement

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