Document:

Series 2013-T2 Indenture Supplement to Fourth Amended and Restated Indenture

 Exhibit 10.4 
 EXECUTION VERSION 
  

 
  

NATIONSTAR AGENCY ADVANCE FUNDING TRUST, 
 as Issuer 
 and 

THE BANK OF NEW YORK MELLON, 
 as Indenture Trustee, Calculation Agent, Paying Agent and Securities Intermediary 

and 
 NATIONSTAR
MORTGAGE LLC, 
 as Administrator and as Servicer 
 and 
 BARCLAYS BANK PLC, 

as Administrative Agent 
  

 
 SERIES 2013-T2

 INDENTURE SUPPLEMENT 
 Dated as of January 31, 2013 
 to 

FOURTH AMENDED AND RESTATED INDENTURE 
 Dated as of January 31, 2013 
  

 
 ADVANCE
RECEIVABLES BACKED NOTES, 
 SERIES 2013-T2 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	PAGE	 
	SECTION 1.	 	CREATION OF SERIES 2013-T2 NOTES	  	 	1	  
			
	SECTION 2.	 	DEFINED TERMS	  	 	2	  
			
	SECTION 3.	 	FORMS OF SERIES 2013-T2 NOTES; TRANSFER RESTRICTIONS	  	 	8	  
			
	SECTION 4.	 	COLLATERAL VALUE EXCLUSIONS	  	 	10	  
			
	SECTION 5.	 	GENERAL RESERVE ACCOUNT	  	 	10	  
			
	SECTION 6.	 	PAYMENTS; NOTE BALANCE INCREASES; EARLY MATURITY	  	 	10	  
			
	SECTION 7.	 	OPTIONAL REDEMPTIONS AND REFINANCING	  	 	11	  
			
	SECTION 8.	 	[RESERVED]	  	 	11	  
			
	SECTION 9.	 	SERIES REPORTS	  	 	11	  
			
	SECTION 10.	 	CONDITIONS PRECEDENT SATISFIED	  	 	12	  
			
	SECTION 11.	 	REPRESENTATIONS AND WARRANTIES	  	 	12	  
			
	SECTION 12.	 	AMENDMENTS	  	 	13	  
			
	SECTION 13.	 	COUNTERPARTS	  	 	13	  
			
	SECTION 14.	 	ENTIRE AGREEMENT	  	 	13	  
			
	SECTION 15.	 	LIMITED RECOURSE	  	 	13	  
			
	SECTION 16.	 	OWNER TRUSTEE LIMITATION OF LIABILITY	  	 	14	  

  
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 THIS SERIES 2013-T2 INDENTURE SUPPLEMENT (this “Indenture Supplement”),
dated as of January 31, 2013, is made by and among NATIONSTAR AGENCY ADVANCE FUNDING TRUST, a statutory trust organized under the laws of the State of Delaware (the “Issuer”), THE BANK OF NEW YORK MELLON, a New York banking
corporation, as trustee (the “Indenture Trustee”), as calculation agent (the “Calculation Agent”), as paying agent (the “Paying Agent”) and as securities intermediary (the “Securities
Intermediary”), NATIONSTAR MORTGAGE LLC, a Delaware limited liability company (“Nationstar”), as Administrator on behalf of the Issuer, as Servicer under the Designated Servicing Agreements and BARCLAYS BANK PLC
(“Barclays”), a public limited company formed under the laws of England and Wales, as Administrative Agent (as defined below). This Indenture Supplement relates to and is executed pursuant to that certain Fourth Amended and Restated
Indenture (as amended, supplemented, restated or otherwise modified from time to time, the “Base Indenture”) supplemented hereby, dated as of January 31, 2013, among the Issuer, the Servicer, the Administrator and the Indenture
Trustee, the Calculation Agent, the Paying Agent, the Securities Intermediary and the Administrative Agent, all the provisions of which are incorporated herein as modified hereby and shall be a part of this Indenture Supplement as if set forth
herein in full (the Base Indenture as so supplemented by this Indenture Supplement being referred to as the “Indenture”). 
 Capitalized terms used and not otherwise defined herein shall have the respective meanings given them in the Base Indenture. 
 PRELIMINARY STATEMENT 
 The Issuer has duly authorized the issuance of a
Series of Notes, the Series 2013-T2 Notes (the “Series 2013-T2 Notes”). The parties are entering this Indenture Supplement to document the terms of the issuance of the Series 2013-T2 Notes pursuant to the Base Indenture which
provides for the issuance of Notes in multiple series from time to time. 
 Section 1. Creation of Series 2013-T2 Notes.

 There are hereby created, effective as of the Issuance Date, the Series 2013-T2 Notes, to be issued pursuant to the Base
Indenture and this Indenture Supplement, to be known as “Nationstar Agency Advance Funding Trust 2013-T2 Advance Receivables Backed Notes, Series 2013-T2 Notes.” The Series 2013-T2 Notes shall not be subordinated to any other Series of
Notes. The Series 2013-T2 Notes are issued in six (6) Classes of Term Notes (Class A-T2, Class B-T2, Class C-T2, Class D-T2, Class E-T2, and Class F-T2 with the Initial Note Balances, Stated Maturity Dates, Revolving Period, Note Interest
Rates, Expected Repayment Dates and other terms as specified in this Indenture Supplement, to be known as the Advance Receivables Backed Notes, Series 2013-T2. The Series 2013-T2 Notes shall be secured by the Trust Estate Granted to the Indenture
Trustee pursuant to the Base Indenture. The Indenture Trustee shall hold the Trust Estate as collateral security for the benefit of the Noteholders of the Series 2013-T2 Notes and all other Series of Notes issued under the Indenture as described
therein. In the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in the Base Indenture, the terms and provisions of this Indenture Supplement shall govern to the extent of
such conflict. 

 Section 2. Defined Terms. 

With respect to the Series 2013-T2 Notes and in addition to or in replacement for the definitions set forth in Section 1.1 of the
Base Indenture, the following definitions shall be assigned to the defined terms set forth below: 
 “90 + Day
Delinquent Loan” has the meaning assigned to such term in the defined term “Market Value.” 

“Administrative Agent” means, for so long as the Series 2013-T2 Notes have not been paid in full: (i) with respect
to the provisions of this Indenture Supplement, Barclays Bank PLC, or an Affiliate or successor thereto; and (ii) with respect to the provisions of the Base Indenture, and notwithstanding the terms and provisions of any other Indenture
Supplement, together, Barclays Bank PLC, and such other parties as set forth in any other Indenture Supplement, or a respective Affiliate or any respective successor thereto. For the avoidance of doubt, reference to “it” or “its”
with respect to the Administrative Agent in the Base Indenture shall mean “them” and “their,” and reference to the singular therein in relation to the Administrative Agent shall be construed as if plural. 

“Advance Rates”: On any date of determination with respect to each Receivable related to any Class of Series 2013-T2
Notes, the percentage amount based on the Advance Type of such Receivable, as set forth below, subject to amendment by mutual agreement of the Administrative Agent and the Administrator, and with consultation with each Note Rating Agency;
provided, that in the event that the Servicer’s sub-prime servicer rating is reduced below “Average” by S&P, the Advance Rates applicable to the Receivables related to such Class of Notes shall be equal to the Advance Rates
set forth below prior to such ratings reduction minus 5.00%; and provided, further, that the Advance Rate for any Receivable related to any Class of Notes shall be zero if such Receivable is not a Facility Eligible Receivable:

  

																									
	 Advance Type
	  	Class A-T2
Term Notes	 	 	Class B-T2
Term Notes	 	 	 Class C-T2

Term Notes
	 	 	 Class D-T2

Term Notes
	 	 	 Class E-T2

Term Notes
	 	 	 Class F-T2

Term Notes
	 
	 Delinquency Advances
	  	 	92.50	% 	 	 	94.75	% 	 	 	95.75	% 	 	 	96.75	% 	 	 	97.25	% 	 	 	97.50	% 
	 Non-Judicial Escrow Advances
	  	 	90.00	% 	 	 	93.00	% 	 	 	94.50	% 	 	 	96.00	% 	 	 	96.50	% 	 	 	96.75	% 
	 Judicial Escrow Advances
	  	 	81.50	% 	 	 	87.25	% 	 	 	90.00	% 	 	 	93.00	% 	 	 	94.00	% 	 	 	94.50	% 
	 Non-Judicial Corporate Advances
	  	 	62.50	% 	 	 	75.50	% 	 	 	82.00	% 	 	 	88.50	% 	 	 	90.75	% 	 	 	92.50	% 
	 Judicial Corporate Advances
	  	 	52.00	% 	 	 	68.75	% 	 	 	77.00	% 	 	 	85.25	% 	 	 	88.25	% 	 	 	90.25	% 

 “Advance Ratio” means, as of any date of determination with respect to any Designated
Pool, the ratio (expressed as a percentage), calculated as of the last day of the calendar month immediately preceding the calendar month in which such date occurs, of (i) the related PSA Stressed Non-Recoverable Advance Amount on such date
over (ii) the aggregate monthly scheduled principal and interest payments for the calendar month immediately preceding the calendar month in which such date occurs with respect to all non-delinquent Mortgage Loans in such Designated Pool
serviced pursuant to the related Designated Servicing Agreement. 

  
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 “Applicable Rating” means the rating assigned to each Class of the Series
2013-T2 Notes by S&P, as the Note Rating Agency, upon the issuance of such Class as set forth below: 
 (i)
Class A-T2: AAA(sf); 
 (ii) Class B-T2: AA(sf); 

(iii) Class C-T2: A(sf); 
 (iv) Class D-T2: BBB(sf); 
 (v) Class E-T2: BB(sf); and 

(vi) Class F-T2: B(sf). 
 “Base Indenture” has the meaning assigned to such term in the Preamble. 
 “Class A-T2 Term Notes” means, the Term Notes, Class A-T2, issued hereunder by the Issuer, having an Initial Note Balance of $88,987,000, or any Term Notes issued in replacement
thereof pursuant to Section 7 of this Indenture Supplement. 
 “Class B-T2 Term Notes” means, the Term
Notes, Class B-T2, issued hereunder by the Issuer, having an Initial Note Balance of $4,853,000, or any Term Notes issued in replacement thereof pursuant to Section 7 of this Indenture Supplement. 

“Class C-T2 Term Notes” means, the Term Notes, Class C-T2, issued hereunder by the Issuer, having an Initial Note
Balance of $2,348,000, or any Term Notes issued in replacement thereof pursuant to Section 7 of this Indenture Supplement. 

“Class D-T2 Term Notes” means, the Term Notes, Class D-T2, issued hereunder by the Issuer, having an Initial Note
Balance of $2,400,000, or any Term Notes issued in replacement thereof pursuant to Section 7 of this Indenture Supplement. 

“Class E-T2 Term Notes” means, the Term Notes, Class E-T2, issued hereunder by the Issuer, having an Initial Note
Balance of $887,000, or any Term Notes issued in replacement thereof pursuant to Section 7 of this Indenture Supplement. 

“Class F-T2 Term Notes” means, the Term Notes, Class F-T2, issued hereunder by the Issuer, having an Initial Note
Balance of $525,000, or any Term Notes issued in replacement thereof pursuant to Section 7 of this Indenture Supplement. 
 “Corporate Trust Office” means with respect to the Series 2013-T2 Notes, the office of the Indenture Trustee (or The Bank of New York Mellon in any of its capacities) at which at any
particular time its corporate trust business will be administered, which office at the date hereof is located at (i) for purposes other than final payment or note transfers, 101 Barclay Street, Floor 8W, New York, New York 10286, Attention:
Nationstar Agency Advance Funding Trust, Series 2013-T2, and (ii) for purposes of final payment and note transfers, 2001 Bryan Street, 9th Floor, Dallas, TX 75201, Attention: Transfers, Nationstar 2013-T2. 

  
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 “Default Rate” means, with respect to any Interest Accrual Period, for each
Class of Notes, the then applicable Note Interest Rate (without regard to the proviso of the definition of “Note Interest Rate” in the Base Indenture) plus 3.00% per annum. 

“Expected Repayment Date” means February 15, 2018 for each Class of the Series 2013-T2 Notes. 

“Expense Rate” means, as of any date of determination, with respect to the Series 2013-T2 Notes, the percentage
equivalent of a fraction, (i) the numerator of which equals the sum of (1) the product of the Series Allocation Percentage for such Series multiplied by (1) the aggregate amount of Fees due and payable by the Issuer on the next
succeeding Payment Date plus (2) the product of the Series Allocation Percentage for such Series multiplied by any expenses payable or reimbursable by the Issuer on the next succeeding Payment Date, up to the applicable Expense
Limit, if any, prior to any payments to the Noteholders of the Series 2013-T2 Notes, pursuant to the terms and provisions of this Indenture Supplement, the Base Indenture or any other Transaction Document that have been invoiced to the Indenture
Trustee and the Administrator, plus (3) the aggregate amount of related Series Fees payable by the Issuer on the next succeeding Payment Date and (ii) the denominator of which equals the sum of the outstanding Note Balances of all
Series 2013-T2 Notes at the close of business on such date. 
 “General Reserve Required Amount” means with
respect to any Payment Date or Interim Payment Date, as the case may be, for the Series 2013-T2 Notes, an amount equal to on any Payment Date or Interim Payment Date four month’s interest calculated at the applicable Senior Rate on the Note
Balance of each Class of Series 2013-T2 Notes as of such Payment Date or Interim Payment Date, as the case may be. 

“Initial Note Balance” means, for any Note or for any Class of Notes, the Note Balance of such Note upon issuance, as
follows: 
 (i) Class A-T2: $88,987,000; 

(ii) Class B-T2: $4,853,000; 
 (iii) Class C-T2: $2,348,000; 
 (iv) Class D-T2: $2,400,000;

 (v) Class E-T2: $887,000;and 

(vi) Class F-T2: $525,000. 
 “Initial Payment Date” means March 15, 2013. 

“Interest Accrual Period” means, for the Series 2013-T2 Notes and any Payment Date, the period beginning on the
immediately preceding Payment Date (or, in the case of the first Payment Date with respect to any Class, the Issuance Date) and ending on the day immediately preceding the current Payment Date. The Interest Payment Amount for the Series 2013-T2
Notes on any Payment Date shall be determined based on an assumed 30-day Interest Accrual Period. 

  
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 “Interest Day Count Convention” means 30 days divided by 360 other than
with respect to the Initial Payment Date which is 45 days divided by 360. 
 “Issuance Date” means
January 31, 2013. 
 “Market Value” means, as of any date of determination with respect to a Designated
Pool, the value of such property (determined by the Servicer in accordance with the Freddie Mac Guide or the Fannie Mae Guide, as applicable) or the appraised value of the Mortgaged Property obtained in connection with its origination, if no updated
valuation has been required under the Freddie Mac Guide or the Fannie Mae Guide, as applicable; provided, that such value shall equal zero for a mortgage loan that was 90 or more days Delinquent (a “90 + Day Delinquent Loan”)
and the related valuation is more than 210 days old. 
 “Market Value Ratio” means, as of any date of
determination with respect to a Designated Pool, the ratio (expressed as a percentage) of (i) the aggregate of the Receivable Balance of all Facility Eligible Receivables related to such Designated Pool on such date over (ii) the aggregate
Market Value of the Mortgaged Properties and REO Properties for the Mortgage Loans in such Designated Pool on such date. 

“Monthly Reimbursement Rate” means, as of any date of determination, the arithmetic average of the fractions (expressed
as percentages), determined for each of the three (3) most recently concluded calendar months, obtained by dividing (i) the aggregate Advance Reimbursement Amounts collected by the Servicer and deposited into the Trust Accounts during such
month by (ii) the sum, for each Freddie Mac Pool or Fannie Mae Pool, of the highest Receivable Balance of the related Receivables during such calendar month relating to Advances funded by the Servicer in respect of such Freddie Mac Pool or
Fannie Mae Pool. 
 “Net Proceeds Coverage Percentage” means, for any Payment Date, the percentage equivalent
of a fraction, (i) the numerator of which equals the amount of Collections on Receivables deposited into the Collection and Funding Account during the related Monthly Advance Collection Period, and (ii) the denominator of which equals the
aggregate average outstanding Note Balances of all Outstanding Notes during such Monthly Advance Collection Period. 

“Note Interest Rate” means, with respect to any Interest Accrual Period, for each Class of Notes, (x) prior to the
Expected Repayment Date, the applicable Senior Rate or (y) from and after the Expected Repayment Date, if the notes of any Class have not been refinanced, the applicable Senior Rate plus 1.00% per annum. For the avoidance of doubt, the
“Note Interest Rate” for the Series 2013-T2 Notes is subject to the definition of “Note Interest Rate” in the Base Indenture. 
 “Note Rating Agency” means, for the Series 2013-T2 Notes, S&P. 
 “Property” means any right or interest in or to property of any kind whatsoever, whether real, personal or mixed and whether tangible or intangible. 

  
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 “PSA Stressed Non-Recoverable Advance Amount” means as of any date of
determination and with respect to any Designated Pool, the sum of: 
 (i) for all Mortgage Loans that are current
as of such date, the greater of (A) zero and (B) the excess of (1) Total Advances related to such Mortgage Loans on such date over (2) (x) in the case of Mortgage Loans secured by a first lien, the product of 50% and the sum
of all of the Market Values for the related Mortgaged Property or (y) in the case of Mortgage Loans secured by a second or more junior lien, zero; and 
 (ii) for all Mortgage Loans that are delinquent as of such date, but not related to property in foreclosure or REO Property, the greater of (A) zero and (B) the excess of (i) Total Advances
related to such Mortgage Loans on such date over (ii) (x) in the case of Mortgage Loans secured by a first lien, the product of 50% and the sum of all of the Market Values for the related Mortgaged Property or (y) in the case of
Mortgage Loans secured by a second or more junior lien, zero; and 
 (iii) for all Mortgage Loans that are
related to properties in foreclosure, the greater of (A) zero and (B) the excess of (1) Total Advances related to such Mortgage Loans on such date over (2) (x) in the case of Mortgage Loans secured by a first lien, the
product of 50% and the sum of all of the Market Values for the related Mortgaged Property or (y) in the case of Mortgage Loans secured by a second or more junior lien, zero; and 

(iv) for all REO Properties, the greater of (A) zero and (B) the excess of (1) Total Advances related to
such REO Properties on such date over (2) (x) in the case of REO Properties previously secured by a first lien Mortgage Loan, the product of 50% and the sum of all of the Market Values for such REO Properties or (y) in the case of REO
Properties previously secured by a second or more junior lien Mortgage Loan, zero. 
 “Redemption Percentage”
means, for the Series 2013-T2 Notes, 10%. 
 “Senior Rate” means, for (i) Class A-T2, a rate per
annum equal to 1.892%; (ii) Class B-T2, a rate per annum equal to 2.487%; (iii) Class C-T2, a rate per annum equal to 3.228%; (iv) Class D-T2, a rate per annum equal to 4.212%; (v) Class E-T2, a rate per annum equal to 5.926%;
and (vi) Class F-T2, a rate per annum equal to 7.385%. 
 “Series 2013-T2 Note Balance” means the
aggregate Note Balance of the Series 2013-T2 Notes. 
 “Series 2013-T2 Placement Agency Agreement” means that
certain Placement Agency Agreement, dated on or about January 24, 2013, by and among the Issuer, the Receivables Seller and Barclays, as Placement Agent, Wells Fargo Securities, LLC, as Placement Agent, Credit Suisse Securities (USA) LLC, as
Placement Agent, and RBS Securities Inc., as Placement Agent. 
 “Stated Maturity Date” means February 18,
2048 for the Series 2013-T2 Notes. 
 “Stressed Time” means, as of any date of determination for any Class of
Series 2013-T2 Notes, the percentage equivalent of a fraction, the numerator of which is one (1), and the denominator of which equals the related Stressed Time Percentage for such Class times the Monthly Reimbursement Rate on such date. 

  
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 “Stressed Time Percentage” means, for Class A-T2, 12.00%, Class B-T2,
17.50%, Class C-T2, 22.50%, Class D-T2, 31.75%, Class E-T2, 37.50% and Class F-T2, 42.00%. 
 “Target Amortization
Amounts” means, for each Class of the Series 2013-T2 Notes, 1/6 of the Note Balance of such Class at the close of business on the last day of its Revolving Period. 

“Target Amortization Event” for any Class of the Series 2013-T2 Notes, means the earlier of
(A) the related Expected Repayment Date for such Class or (B) the occurrence of any of the following conditions or events, which is not waived by Noteholders of 66 2/3% of the Note Balance of the Outstanding Notes, measured by Voting Interests, of the Series 2013-T2 Notes: 
 (i) on any Payment Date, the arithmetic average of the Net Proceeds Coverage Percentage determined for such Payment Date and the two preceding Payment Dates is less than five times the percentage
equivalent of a fraction (A) the numerator of which equals the sum of the accrued Interest Payment Amounts for each Class of all Outstanding Notes on such date and (B) the denominator of which equals the aggregate average Note Balances of
each Class of Outstanding Notes during the related Monthly Advance Collection Period; 
 (ii) the occurrence of
one or more Servicer Termination Events with respect to Designated Pools under the related Designated Servicing Agreements representing 15% or more (by Mortgage Loan balance as of the date of termination) of all the Designated Pools then included in
the Collateral; 
 (iii) the Monthly Reimbursement Rate is less than 8.00%; 

(iv) any failure by the Administrator to deliver any Determination Date Administrator Report pursuant to Section 3.2
of the Base Indenture which continues unremedied for a period of thirty (30) Business Days after a Responsible Officer of the Administrator shall have obtained actual knowledge of such failure, or shall have received written or electronic
notice from the Indenture Trustee or any Noteholder of such failure; 
 (v) the Issuer, the Receivables Seller,
the Servicer, the Depositor or the Administrator shall breach or default in the due observance or performance of any of its covenants or agreements in this Indenture Supplement, the Base Indenture or any other Transaction Document (subject to any
cure period provided therein and such default has a material adverse effect on any Noteholder of any 2013-T2 Notes and which material adverse effect continuing), other than an obligation of the Receivables Seller to make an Indemnity Payment
following a breach of a representation or warranty with respect to such Receivable pursuant to Section 4(b) of the Receivables Sale Agreement, and any such default shall continue for a period of thirty (30) Business Days after the earlier
to occur of (i) actual discovery by a Responsible Officer of the Issuer, the Receivables Seller, the Servicer, the Depositor or the Administrator, as applicable, or (ii) the date on which written or electronic notice of such failure,
requiring the same to be remedied, 

  
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shall have been given from the Indenture Trustee or any Noteholder to a Responsible Officer of the Issuer, the Receivables Seller, the Servicer, the Depositor or the Administrator;
provided, that a breach of Section 6(b) of the Receivables Sale Agreement, or Section 7(b) of the Receivables Pooling Agreement (prohibiting the Receivables Seller, the Servicer or the Depositor, as applicable, from causing or
permitting Insolvency Proceedings with respect to the Depositor or the Issuer, as applicable) shall constitute an automatic Target Amortization Event; or 
 (vi) if any representation or warranty of the Issuer, the Receivables Seller, the Servicer, the Depositor or the Administrator made in this Indenture Supplement, the Base Indenture, or any other
Transaction Document (other than under Section 4(b) of the Receivables Sale Agreement) shall prove to have been breached in any material respect as of the time when the same shall have been made or deemed made, which has a material adverse
effect on the right of the Noteholders of the Series 2013-T2 Notes and which material adverse effect is continuing and, if capable of remedy by payment of an Indemnity Payment or otherwise, continues uncured and unremedied for a period of thirty
(30) days after the earlier to occur of (i) actual discovery by a Responsible Officer of the Issuer, the Receivables Seller, the Servicer, the Depositor or the Administrator, as applicable, or (ii) the date on which written notice of
such failure, requiring the same to be remedied, shall have been given to a Responsible Officer of the Issuer, the Receivables Seller, the Servicer, the Depositor or the Administrator, as applicable. 

“Total Advances” means, with respect to any date of determination with respect to any Mortgage Loans, the sum of all
outstanding amounts of all outstanding Advances related to Facility Eligible Receivables funded by the Servicer out of its own funds or with respect to such Mortgage Loans on such date. 

“Transaction Documents” means, in addition to the documents set forth in the definition thereof in the Base Indenture,
this Indenture Supplement and the Series 2013-T2 Placement Agency Agreement, each as amended, supplemented, restated or otherwise modified from time to time. 
 “Trigger Advance Rate” means, for any Class within the Series 2013-T2 Notes, as of any date, the rate equal to (1) 100% minus (2) the product of (a) one-twelfth of the
weighted average interest rates for all Classes of Series 2013-T2 Notes, as of such date plus the related Expense Rate as of such date, multiplied by (b) the related Stressed Time for such Class as of such date. 

Section 3. Forms of Series 2013-T2 Notes; Transfer Restrictions. 

The form of the Rule 144A Global Note and of the Regulation S Global Note that may be used to evidence the Class A-T2 Term Notes, the
Class B-T2 Term Notes, the Class C-T2 Term Notes and the Class D-T2 Term Notes in the circumstances described in Section 5.4(c) of the Base Indenture are attached to the Base Indenture as Exhibits A-1 and A-3, respectively. For
the avoidance of doubt, and subject to the terms and provisions of Section 5.4 of the Base Indenture, the Class A-T2 Term Notes, the Class B-T2 Term Notes, the Class C-T2 Term Notes and the Class D-T2 Term Notes are to be issued as
Book-Entry Notes. The form of the Rule 144A Definitive Note and of the Regulation S Definitive Note that may be used to evidence the Class 

  
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E-T2 Term Notes in the circumstances described in Section 5.4(c) of the Base Indenture are attached to the Base Indenture as Exhibits A-2 and A-4, respectively. The form of the
Rule 144A Definitive Note that may be used to evidence the Class F-T2 Term Notes in the circumstances described in Section 5.4(c) of the Base Indenture are attached to the Base Indenture as Exhibit A-2, respectively. The Class E-T2 Term
Notes and the Class F-T2 Term Notes are to be issued as Definitive Notes and are required to remain in physical form and are not exchangeable for Book-Entry Notes, notwithstanding anything to the contrary in the Base Indenture. 

Any Noteholder of the Offered Notes may only resell, pledge or transfer its beneficial interest in the Series 2013-T2 Notes to (i) a
person that the transferor reasonably believes is, and who has certified (or, in the case of Book-Entry Notes, is deemed to have certified) that it is, a Qualified Institutional Buyer that purchases for its own account or for the account of a
Qualified Institutional Buyer and to whom notice is given that the resale, pledge or transfer is made in reliance on Rule 144A or in the case of the Class E-T2 Term Notes and the Class F-T2 Term Notes only, an “Accredited Investor” as
defined in paragraphs (1), (2), (3) or (7) of Rule 501 under the Securities Act or (ii) except in the case of the Class F-T2 Term Notes (which may not be transferred to Non-U.S. Persons as defined for U.S. federal income tax
purposes), to Non-U.S. Persons outside the United States in “Off-shore Transactions” in reliance on the safe harbor provided by Regulation S that are also, in the case of the Class E-T2 Term Notes, Qualified Institutional Buyers or
Institutional Accredited Investors. 
 In addition, the Class E-T2 Term Notes and Class F-T2 Term Notes may not be transferred
unless the proposed transferee makes certain representations in which such beneficial owner agrees to avoid certain actions that could result in an alternate characterization of the Issuer as provided in Section 6.5(m) and (n) of the Base
Indenture. No transfer of a Class E-T2 Term Note or Class F-T2 Term Note will be effective, and any such transfer will be void ab initio, unless after such transfer there would be no more than ninety-five (95) beneficial owners, in the
aggregate, of the Specified Notes and the Trust Certificate for U.S. federal income tax purposes. The Class E-T2 Term Note is a Class 1 Specified Note for purposes of the Base Indenture, and each transferee of a Class E-T2 Term Note must
provide the Indenture Trustee and Note Registrar with representations substantially in the form of Exhibit E of the Base Indenture as a condition to such transfer. The Class F-T2 Term Note is a Class 2 Specified Note for purposes of the
Base Indenture, and each transferee of a Class F-T2 Term Note must provide the Indenture Trustee and Note Registrar with representations substantially in the form of Exhibit F of the Base Indenture as a condition to such transfer. 

Proposed transferees of Class A-T2 Term Notes, the Class B-T2 Term Notes, the Class C-T2 Term Notes and the Class D-T2 Term Notes
will be required make (or in the case of Book Entry Notes, will be deemed to make) certain certifications for purposes of ERISA as provided in Section 4.02 of the Base Indenture. Each proposed transferee of Class E-T2 Term Note or
Class F-T2 Term Note (as Specified Notes under the Base Indenture) will be required to certify that it is not and is not acting on behalf of, or using assets of, an Employee Benefit Plan as provided in Section 4.02 of the Base Indenture.

  
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 Section 4. Collateral Value Exclusions. 

For purposes of calculating “Collateral Value” in respect of the Series 2013-T2 Notes, the Collateral Value shall be zero
for any Receivable that: 
 (i) is attributable to any Designated Pool to the extent that the related Receivable
Balance, when added to the aggregate Receivable Balance already outstanding with respect to such Designated Pool, would cause the related Advance Ratio to be equal to or greater than 100%; 

(ii) is not a Facility Eligible Receivable; or 

(iii) is attributable to any Designated Pool to the extent that the related Receivable Balance, when added to the
aggregate Receivable Balance already outstanding with respect to such Designated Pool, would cause the related Market Value Ratio to exceed 25%. 
 Section 5. General Reserve Account. 
 In accordance with the terms and
provisions of this Section 5 and Section 4.6 of the Base Indenture, the Indenture Trustee shall establish and maintain a General Reserve Account, which shall be an Eligible Account, with respect to the Series 2013-T2 Notes for the
benefit of the Series 2013-T2 Noteholders. 
 Section 6. Payments; Note Balance Increases; Early Maturity.

 The Paying Agent shall make payments of interest on the Series 2013-T2 Notes on each Payment Date in accordance with
Section 4.5 of the Base Indenture and any payments of interest, Cumulative Interest Shortfall Amounts, or Fees allocated to the Series 2013-T2 Notes shall be paid first to the Class A-T2 Term Notes, thereafter to the Class B-T2 Term Notes,
thereafter to the Class C-T2 Term Notes, thereafter to the Class D-T2 Term Notes, thereafter to the Class E-T2 Term Notes and thereafter to the Class F-T2 Term Notes. The Paying Agent shall make payments of principal on the Series 2013-T2 Notes on
each Payment Date in accordance with Section 4.5 of the Base Indenture during any Target Amortization Period or any Full Amortization Period. 
 The Series 2013-T2 Notes are subject to optional redemption in accordance with the terms of Section 13.1 of the Base Indenture and are subject to redemption and refinancing pursuant to Section 7
of this Indenture Supplement. 
 Any payments of principal allocated to the Series 2013-T2 Notes during a Full Amortization
Period shall be applied in the following order of priority, first, to the Class A-T2 Term Notes, pro rata, until their Note Balance has been reduced to zero, second, to the Class B-T2 Term Notes, pro rata. until their Note Balance
has been reduced to zero, third, to the Class C-T2 Term Notes, pro rata, until their Note Balance has been reduced to zero, fourth, to the Class D-T2 Term Notes, pro rata, until their Note Balance has been reduced to zero,
fifth, to the Class E-T2 Term Notes, pro rata, until their Note Balance has been reduced to zero and sixth, to the Class F-T2 Term Notes, pro rata, until their Note Balance has been reduced to zero. 

  
 10 

 Notwithstanding anything to the contrary in Section 8.1(a)(i) of the Base Indenture,
an Event of Default under Section 8. 1(a)(i) shall exist on the Series 2013-T2 Notes only if there is a default (which default continues for a period of two (2) Business Days following written or electronic notice from the
Indenture Trustee or the Administrative Agent), in the payment of any principal, Senior Interest Amount or any Fees due and owing on any Payment Date (including without limitation the full aggregate amount of any Target Amortization Amounts due
on such Payment Date). 
 Section 7. Optional Redemptions and Refinancing. 

The Series 2013-T2 Notes are subject to optional redemption by the Issuer, in whole but not in part on any Payment Date on or after the
earlier of the Payment Date in January 2016 or the Payment Date on which the aggregate Note Balance of the Series 2013-T2 Notes is less than the Redemption Percentage of the aggregate Initial Note Balance thereof. The Series 2013-T2 Notes are
subject to optional redemption by the Issuer pursuant to Section 13.1 of the Base Indenture, in whole but not in part with respect to such group of Classes, using the proceeds of the issuance and sale of one or more new Classes of Series
2013-T2 Notes issued pursuant to a supplement to this Indenture Supplement, on any Business Day after the date on which the related Revolving Period ends or on any Business Day within 10 days prior to the end of such Revolving Period upon 10
days’ prior notice to the Noteholders. In anticipation of a redemption of the Series 2013-T2 Notes at the end of their Revolving Period, the Issuer may issue a new Series or one or more Classes of Notes within the 90 day period prior to the end
of such Revolving Period and reserve the cash proceeds of the issuance for the sole purpose of paying the principal balance and all accrued and unpaid interest on the Series 2013-T2 Notes to be redeemed, on the last day of their Revolving Period.
Any supplement to this Indenture Supplement executed to effect an optional redemption may be entered into without consent of the Holders of any of the Notes pursuant to Section 12(a)(iv) of the Base Indenture. Any Notes issued in replacement
for the Series 2013-T2 Notes will have the same rights and privileges as the Class of Series 2013-T2 Note that was refinanced with the related proceeds thereof; provided, such replacement Notes may have different Expected Repayment Dates and Stated
Maturity Dates. 
 Section 8. [RESERVED]. 
 Section 9. Series Reports. 
 (a) Series Calculation Agent
Report. The Calculation Agent shall deliver a report of the following items together with each Calculation Agent Report pursuant to Section 3.1 of the Base Indenture to the extent received from the Servicer, with respect to the Series
2013-T2 Notes: 
 (i) the Advance Ratio for each Designated Pool, and whether the Advance Ratio for such
Designated Pool exceeds 100%; 
 (ii) the Market Value Ratio for each Designated Pool, and whether the Market
Value Ratio for such Designated Pool exceeds 25%; 

  
 11 

 (iii) a list of each Target Amortization Event for the Series 2013-T2 Notes
and presenting a yes or no answer beside each indicating whether each such Target Amortization Event has occurred as of the end of the Monthly Advance Collection Period preceding the upcoming Payment Date or the Advance Collection Period preceding
the upcoming Interim Payment Date; 
 (iv) whether any Receivable, or any portion of the Receivables,
attributable to a Designated Pool, has a Collateral Value of zero; 
 (v) a calculation of the Net Proceeds
Coverage Percentage in respect of each of the three preceding Monthly Advance Collection Periods (or each that has occurred since the date of this Indenture Supplement, if less than three), and the arithmetic average of the three; 

(vi) the Monthly Reimbursement Rate for the upcoming Payment Date or Interim Payment Date; 

(vii) whether any Target Amortization Amount that has become due and payable has been paid; 

(viii) the PSA Stressed Non-Recoverable Advance Amount for the upcoming Payment Date or Interim Payment Date; and

 (ix) the Trigger Advance Rate for each Class. 

(b) Series Payment Date Report. In conjunction with each Payment Date Report, the Indenture Trustee shall also report the Stressed
Time Percentage. 
 (c) Limitation on Indenture Trustee Duties. The Indenture Trustee shall have no independent duty to
verify: (i) the occurrence of any of the events described in clause (ii) and (iii) of the definition of “Target Amortization Event,” or (ii) compliance with clause (vi) of the definition of “Facility Eligible
Servicing Agreement.” 
 Section 10. Conditions Precedent Satisfied. 

The Issuer hereby represents and warrants to the Noteholders of the Series 2013-T2 Notes and the Indenture Trustee that, as of the related
Issuance Date, each of the conditions precedent set forth in the Base Indenture, including but not limited to those conditions precedent set forth in Section 6.10(b) and Article XII thereof and Section 12 hereof, as applicable, have been
satisfied. 
 Section 11. Representations and Warranties. 

The Issuer, the Administrator, the Servicer and the Indenture Trustee hereby restate as of the related Issuance Date, or as of such other
date as is specifically referenced in the body of such representation and warranty, all of the representations and warranties set forth in Sections 9.1, 10.1 and 11.14, respectively, of the Base Indenture. 

  
 12 

 Section 12. Amendments. 

(a) Notwithstanding any provisions to the contrary in Article XII of the Base Indenture, and in addition to and otherwise subject to the
provisions set forth in Sections 12.1 and 12.3 of the Base Indenture, without the consent of the Noteholders of any Notes or any other Person but with the consent of the Issuer (evidenced by its execution of such amendment), the Indenture Trustee,
the Administrator, the Servicer, and the Administrative Agent, and with prior notice to the applicable Note Rating Agency, at any time and from time to time, upon delivery of an Issuer Tax Opinion and upon delivery by the Issuer to the Indenture
Trustee of an Officer’s Certificate to the effect that the Issuer reasonably believes that such amendment will not have an Adverse Effect, may amend this Indenture Supplement for any of the following purposes: (i) to correct any mistake or
typographical error or cure any ambiguity, or to cure, correct or supplement any defective or inconsistent provision herein or any other Transaction Document; (ii) to correct, modify or supplement any provision herein that may be defective or
may be inconsistent with any provision in the final Private Placement Memorandum dated January 25, 2013, as it may be amended or supplemented from time to time; (iii) to take any action necessary to maintain the rating currently assigned
by the applicable Note Rating Agency and/or to avoid such Class of Notes being placed on negative watch by such Note Rating Agency; or (iv) to amend any other provision of this Indenture Supplement. 

(b) Notwithstanding any provisions to the contrary in Section 6.10 or Article XII of the Base Indenture, no supplement, amendment or
indenture supplement entered into with respect to the issuance of a new Series of Notes or pursuant to the terms and provisions of Section 12.2 of the Base Indenture may, without the consent of 100% of the Series 2013-T2 Notes, supplement,
amend or revise any term or provision of this Indenture Supplement. 
 Section 13. Counterparts. 

This Indenture Supplement may be executed in any number of counterparts, by manual or facsimile signature, each of which so executed shall
be deemed to be an original, but all of such counterparts shall together constitute but one and the same instrument. 

Section 14. Entire Agreement. 
 This Indenture Supplement, together with the Base Indenture incorporated herein by reference, constitutes the entire agreement among the parties hereto with respect to the subject matter hereof, and fully
supersedes any prior or contemporaneous agreements relating to such subject matter. 
 Section 15. Limited Recourse.

 Notwithstanding any other terms of this Indenture Supplement, the Series 2013-T2 Notes, any other Transaction Documents or
otherwise, the obligations of the Issuer under the Series 2013-T2 Notes, this Indenture Supplement and each other Transaction Document to which it is a party are limited recourse obligations of the Issuer, payable solely from the Trust Estate, and
following realization of the Trust Estate and application of the proceeds thereof in accordance with the terms of this Indenture Supplement, none of the Noteholders of Series 2013-T2 Notes, the Indenture Trustee or any of the other parties to the
Transaction Documents shall be entitled to 

  
 13 

 
take any further steps to recover any sums due but still unpaid hereunder or thereunder, all claims in respect of which shall be extinguished and shall not thereafter revive. No recourse shall be
had for the payment of any amount owing in respect of the Series 2013-T2 Notes or this Indenture Supplement or for any action or inaction of the Issuer against any officer, director, employee, shareholder, stockholder or incorporator of the Issuer
or any of their successors or assigns for any amounts payable under the Series 2013-T2 Notes or this Indenture Supplement. It is understood that the foregoing provisions of this Section 15 shall not (a) prevent recourse to the Trust
Estate for the sums due or to become due under any security, instrument or agreement which is part of the Trust Estate or (b) save as specifically provided therein, constitute a waiver, release or discharge of any indebtedness or obligation
evidenced by the Series 2013-T2 Notes or secured by this Indenture Supplement. It is further understood that the foregoing provisions of this Section 15 shall not limit the right of any Person to name the Issuer as a party defendant in
any proceeding or in the exercise of any other remedy under the Series 2013-T2 Notes or this Indenture Supplement, so long as no judgment in the nature of a deficiency judgment or seeking personal liability shall be asked for or (if obtained)
enforced against any such Person or entity. 
 Section 16. Owner Trustee Limitation of Liability. 

It is expressly understood and agreed by the parties hereto that (a) this Indenture Supplement is executed and delivered by
Wilmington Trust, National Association, not individually or personally, but solely as Owner Trustee of the Issuer under the Trust Agreement, in the exercise of the powers and authority conferred and vested in it, (b) each of the
representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representation, undertaking and agreement by Wilmington Trust, National Association but is made and intended for the purpose of
binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Wilmington Trust, National Association, individually or personally, to perform any covenant either expressed or implied contained herein, all
such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Wilmington Trust, National Association be personally liable for the
payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Indenture Supplement or the other Transaction Documents.

  
 14 

 IN WITNESS WHEREOF, Nationstar Agency Advance Funding Trust, as Issuer, Nationstar
Mortgage LLC (as Administrator and as Servicer), The Bank of New York Mellon, as Indenture Trustee, Calculation Agent, Paying Agent and Securities Intermediary, and Barclays Bank PLC, as Administrative Agent, have caused this Indenture Supplement
relating to the Series 2013-T2 Notes, to be duly executed by their respective officers thereunto duly authorized and their respective signatures duly attested all as of the day and year first above written. 

 

					
	 NATIONSTAR AGENCY ADVANCE FUNDING TRUST,
 as Issuer
  
 By:
Wilmington Trust, National Association, not in its individual capacity but solely as Owner Trustee
	 		 	THE BANK OF NEW YORK MELLON, as Indenture Trustee, Calculation Agent, Paying Agent and Securities Intermediary and not in its individual capacity
			
	 By: /s/ Christopher M.
Cavalli                                        
        
  
       Name: Christopher M. Cavalli
  

      Title: Banking Offier
	 		 	 By: /s/ Erica
Walsh                                       
                         
  

      Name: Erica Walsh
  

      Title: Vice President

			
	 NATIONSTAR MORTGAGE LLC,

as Administrator and as Servicer
	 		 	 BARCLAYS BANK PLC,

as Administrative Agent

			
	 By: /s/ Amar
Patel                                        
                        
  

      Name: Amar Patel

 
       Title:
Executive Vice President
	 		 	 By: /s/ Jamie
Pratt                                        
                        
  

      Name: Jamie Pratt
  

      Title: Director

 [Signature Page to Indenture Supplement – Nationstar Series 2013-T2 Notes]Amended and Restated Receivables Pooling Agreement

 Exhibit 10.5 
 EXECUTION VERSION 
 AMENDED AND RESTATED RECEIVABLES POOLING AGREEMENT 

NATIONSTAR AGENCY ADVANCE FUNDING LLC 
 (Depositor) 
 and 

NATIONSTAR AGENCY ADVANCE FUNDING TRUST 
 (Issuer) 
 Dated as of January 31, 2013 

NATIONSTAR AGENCY ADVANCE FUNDING TRUST 
 ADVANCE RECEIVABLES BACKED NOTES, ISSUABLE IN SERIES 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	Section 1.	 	Definitions; Incorporation by Reference	  	 	3	  
	Section 2.	 	Transfer of Receivables	  	 	5	  
	Section 3.	 	Depositor’s Acknowledgment and Consent to Assignment	  	 	7	  
	Section 4.	 	Representations, Warranties and Certain Covenants of Depositor	  	 	7	  
	Section 5.	 	Remedies Upon Breach	  	 	13	  
	Section 6.	 	Termination	  	 	13	  
	Section 7.	 	General Covenants of Depositor	  	 	13	  
	Section 8.	 	Grant Clause	  	 	15	  
	Section 9.	 	Grant by Issuer	  	 	16	  
	Section 10.	 	Protection of Indenture Trustee’s Security Interest in Trust Estate	  	 	16	  
	Section 11.	 	Limited Recourse	  	 	16	  
	Section 12.	 	Miscellaneous	  	 	17	  
			
	Schedule 1	 	Form of Assignment of Receivables	  			

  
 i 

 AMENDED AND RESTATED RECEIVABLES POOLING AGREEMENT 

This AMENDED AND RESTATED RECEIVABLES POOLING AGREEMENT (as it may be amended, supplemented, restated, or otherwise modified from time to
time, this “Agreement”) is made as of January 31, 2013 (the “Closing Date”), by and between NATIONSTAR AGENCY ADVANCE FUNDING LLC, a limited liability company organized under the laws of the State
of Delaware (the “Depositor”), and NATIONSTAR AGENCY ADVANCE FUNDING TRUST, a statutory trust organized under the laws of Delaware (the “Issuer”). 

RECITALS 

A. The Depositor is a special purpose Delaware limited liability company wholly owned by Nationstar Mortgage LLC
(“Nationstar”). The Issuer is a statutory trust organized under the laws of Delaware. The Depositor and the Issuer were parties to that certain Receivables Pooling Agreement (the “Original Receivables Pooling
Agreement”), dated as of October 24, 2011 (the “Original Closing Date”). Pursuant to Section 12(a) of the Original Receivables Pooling Agreement, the Depositor and the Issuer may amend the Original
Receivables Pooling Agreement by written instrument provided that: (i) so long as the Notes are outstanding, more than 50% of the Holders of all Outstanding Notes, each Supplemental Credit Enhancement Provider and each Liquidity Provider
provide their prior written consent, and (ii) Nationstar shall notify each Note Rating Agency of any such amendment and shall furnish a copy of any such amendment to each such Note Rating Agency as described in Section 11(a) of that
certain Receivables Sale Agreement between Nationstar and Depositor, dated as of October 24, 2011. The Depositor and the Issuer wish to amend and restate in its entirety the Original Receivables Pooling Agreement in accordance with
Section 12(a) of the Original Receivables Pooling Agreement, pursuant to the terms set forth in this Agreement. 
 B. As of
the Original Closing Date, Nationstar acts as the servicer under one or more certain Freddie Mac Servicing Agreements incorporating the Freddie Mac Guide and effective as of the Closing Date, Nationstar acts as servicer under one or more certain
Fannie Mae Servicing Agreements incorporating the Fannie Mae Guide (each, as it may be amended, supplemented, restated, or otherwise modified from time to time, a “Servicing Agreement” and collectively, the
“Servicing Agreements”), has the obligation to make Advances from and after the Original Closing Date in the case of the Freddie Mac Servicing Agreements and the Closing Date in the case of the Fannie Mae Servicing
Agreements, and the right to collect the related Receivables in reimbursement of such Advances and the right to collect Receivables in existence on the Original Closing Date related to Advances previously made by Nationstar. As such, Nationstar, as
servicer, will service pools of mortgage loans in various Pools. One or more Servicing Agreements relating to a Facility Eligible Pool will be identified on the Designated Servicing Agreement Schedule (each, a “Designated Servicing
Agreement” and, collectively, the “Designated Servicing Agreements”) and the related Facility Eligible Pools in which Nationstar acts as servicer (each, a “Designated Pool” and
collectively, the “Designated Pools”) for inclusion under this Agreement, the Amended and Restated Receivables Sale Agreement, of even date herewith, between Nationstar and the Depositor (as amended, restated, supplemented or
otherwise modified from time to time, the “Receivables Sale Agreement”) and the Indenture. 

 C. The Issuer and Nationstar, as servicer and as Administrator ( in such capacity, the
“Administrator”), The Bank of New York Mellon, as Indenture Trustee (the “Indenture Trustee”), as Calculation Agent, as Paying Agent and as Securities Intermediary, and Barclays Bank PLC
(“Barclays”), as administrative agent (the “Administrative Agent”), entered into an Indenture (the “Original Indenture”) dated as of October 24, 2011. Under the Original
Indenture, the Issuer issued one Class of Variable Funding Notes. The Original Indenture was amended by that certain amendment and waiver, dated as of February 23, 2012, by and among the parties to the Original Indenture. The Original Indenture
was amended and restated by that certain Amended and Restated Indenture dated as of April 27, 2012 (the “Amended and Restated Indenture”) by and among the parties to the Original Indenture. The Amended and Restated
Indenture was amended by that certain Second Amended and Restated Indenture, dated as of October 19, 2012 (the “Second Amended and Restated Indenture”). The Second Amended and Restated Indenture was amended by that
certain Third Amended and Restated Indenture, dated as of January 2, 2013 (the “Third Amended and Restated Indenture”). The Third Amended and Restated Indenture was amended by that certain Fourth Amended and Restated
Indenture, dated as of January 31, 2013 (as may be amended, supplemented, restated or otherwise modified from time to time and including any indenture supplement, the “Indenture”), pursuant to which the Issuer shall be
permitted to issue different Series of Advance Receivables Backed Notes (the “Notes”) from time to time, on the terms and conditions set forth in the Indenture. 

D. Nationstar is obligated to make certain Advances from time to time with respect to the Mortgage Loans in the Designated Pools under
the Designated Servicing Agreements of different Advance Types as more fully described in the Indenture. Upon its disbursement of an Advance with respect to a Designated Pool of a contractual right to be reimbursed for such Advance in accordance
with the terms of the related Designated Servicing Agreement. Nationstar, as receivables seller, has sold, assigned, transferred, conveyed and contributed to the Depositor all its contractual rights to be reimbursed for each Advance disbursed by
Nationstar (or any predecessor servicer to the extent that Nationstar acquires the Advances), as servicer, from the date hereof through the Receivables Sale Termination Date in respect of Designated Pools, under the Designated Servicing Agreements
and each Advance previously made by any predecessor servicer before the Closing Date (in any case, which Advance has not been previously reimbursed) (any right to reimbursement in respect of any such Advance, a “Receivable”
and, collectively, the “Receivables”), pursuant to the Receivables Sale Agreement. The Depositor is entering into this Agreement to sell and/or contribute, assign, transfer and convey to the Issuer all Receivables acquired by
the Depositor from Nationstar, as receivables seller, immediately upon the Depositor’s acquisition of such Receivables pursuant to the Receivables Sale Agreement. 
 E. The Notes issued by the Issuer pursuant to the Indenture will be collateralized by the Aggregate Receivables and related property and certain monies in respect thereof now owned and to be hereafter
acquired by the Issuer. 
 F. In consideration of each transfer by the Depositor to the Issuer of the Transferred Assets on the
terms and subject to the conditions set forth in this Agreement, the Issuer has agreed to pay to the Depositor a purchase price equal to 100% of the fair market value thereof on each Sale Date. To the extent the purchase price actually paid in cash
by the Issuer for the Transferred Assets is less than 100% of the fair market value thereof, the consideration for such 

  
 2 

 
excess fair market value shall be an increase in the value of the Owner Trust Certificate of the Issuer, 100% of which is held by the Depositor, by the amount by which the fair market value of
such Receivable exceeds the cash purchase price actually paid therefor. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the above premises and of the mutual promises hereinafter set forth, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
 Section 1. Definitions; Incorporation by Reference. 
 (a) This
Agreement is entered into in connection with the terms and conditions of the Indenture. Any capitalized term used but not defined herein shall have the meaning given to it in the Indenture. Futhermore, for any capitalized term defined herein but
defined in greater detail in the Indenture, the detailed information from the Indenture shall be incorporated herein by reference. 

Additional Receivables: As defined in Section 2(a)(ii). 
 Administrative Agent: As defined in the Recitals. 
 Administrator: As defined in the
Recitals. 
 Aggregate Receivables: All Initial Receivables and all Additional Receivables sold and/or contributed by the Depositor to
the Issuer hereunder. 
 Agreement: As defined in the Preamble. 
 Amended and Restated Indenture: As defined in the Recitals. 
 Assignment of
Receivables: Each agreement documenting an assignment by Nationstar to the Depositor substantially in the form set forth on Schedule 1. 
 Barclays: As defined in the Recitals. 
 Closing Date: As defined in the
Preamble. 
 Depositor: As defined in the Preamble. 
 Depositor’s Related Documents: As defined in Section 4(a)(iii). 

Designated Pool: As defined in the Recitals. 
 Designated Servicing Agreement and Designated Servicing Agreements: As defined in the Recitals. 
 Indenture: As defined in the Recitals. 

  
 3 

 Indenture Trustee: As defined in the Recitals. 

Initial Receivables: As defined in Section 2(a)(i). 
 Issuer: As defined in the Preamble. 
 Nationstar: As defined in the Recitals.

 Notes: As defined in the Indenture. 
 Original Closing Date: As defined in the Recitals. 
 Original Indenture: As defined
in the Recitals. 
 Original Receivables Pooling Agreement: As defined in the Recitals. 

Purchase: Each purchase by the Issuer from the Depositor of Transferred Assets. 
 Purchase Price: As defined in Section 2(b). 
 Receivable and
Receivables: As defined in the Recitals. 
 Receivables Sale Agreement: As defined in the Recitals. 

Receivables Sale Termination Date: The date, after the conclusion of the Revolving Period, on which all amounts due on all Classes of Notes issued
by the Issuer pursuant to the Indenture, and all other amounts payable to any party pursuant to the Indenture, shall have been paid in full. 

Removed Servicing Agreement: As defined in Section 2(c). 
 Sale Date: (i) With respect to the Initial Receivables, the Closing Date and (ii) with respect to any Additional Receivables, each date prior to the Receivables Sale Termination Date on
which such Additional Receivable is sold and/or contributed, assigned, transferred and conveyed by the Depositor to the Issuer pursuant to the terms of this Agreement. 
 Second Amended and Restated Indenture: As defined in the Recitals. 
 Series: As
defined in the Indenture. 
 Servicing Agreement and Servicing Agreements: As defined in the Recitals. 

Stop Date: As defined in Section 2(c). 
 Subsidiary: With respect to any Person (i) any corporation more than 50% of the outstanding securities having ordinary voting power of which shall at the time be owned or controlled, directly
or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, or (ii) any partnership, limited liability company, association, joint venture or similar business organization more than
50% of the ownership interests having ordinary voting power of which shall at the time be so owned or controlled. 

  
 4 

 Third Amended and Restated Indenture: As defined in the Recitals. 

Transferred Assets: As defined in Section 2(a)(iii). 
 UCC: As defined in Section 2(a)(iii). 
 (b) The Designated
Servicing Agreement Schedule, as may be amended, supplemented, restated, or otherwise modified from time to time in accordance with the Transaction Documents, is incorporated by this reference into this Agreement. 

Section 2. Transfer of Receivables. 
 (a) Transferred Assets. 
 (i) From the Original Closing Date
to the Closing Date, subject to the provisions of the Original Receivables Pooling Agreement, the Depositor sold and/or contributed, assigned, transferred and conveyed to the Issuer, and the Issuer acquired from the Depositor without recourse except
as provided under the Original Receivables Pooling Agreement, all of the Depositor’s right, title and interest, whether now owned or hereafter acquired, in, to and under each Receivable (other than Receivables arising in connection with the
Servicing Agreements of Nationstar Mortgage LLC related to the Mortgage Loans serviced for Freddie Mac under Seller/Servicer Number 157386, which are initially being transferred as of the Closing Date) (1) in existence on the Original Closing
Date and in existence on any Business Day on or after the Original Closing Date and prior to the Closing Date that arose with respect to any Pool that is subject to any Servicing Agreement that is listed as a “Designated Servicing
Agreement” on the Designated Servicing Agreement Schedule as of the date such Receivable is created (the “Initial Receivables”), and (2) all monies due or to become due and all amounts received or receivable with
respect thereto and all proceeds (including “proceeds” as defined in the Uniform Commercial Code in effect in all applicable jurisdictions (the “UCC”)), together with all rights of the Depositor to enforce such
Initial Receivables (collectively, the “Original Transferred Assets”); and 
 (ii)
Commencing on the Closing Date, and until the close of business on the Receivables Sale Termination Date, subject to the provisions of this Agreement, the Depositor hereby sells and/or contributes, assigns, transfers and conveys to the Issuer, and
the Issuer acquires from the Depositor without recourse except as provided herein, all of the Depositor’s right, title and interest, whether now owned or hereafter acquired, in, to and under (1) each Receivable in existence on any Business
Day on or after the Closing Date and prior to the Receivables Sale Termination Date that arises with respect to any Facility Eligible Pool (each a “Pool”) that is subject to any Servicing Agreement that is listed as a
“Designated Servicing Agreement” and the related Pool is listed as a “Designated Pool” on the Designated Servicing Agreement Schedule as of the date such Receivable is created (“Additional Receivables”),
(2) all monies due or to become due and all amounts received or receivable with respect thereto and all proceeds (including “proceeds” as defined in the UCC), together with all rights of the Depositor to enforce such Initial
Receivables and Additional Receivables and (3) the Receivables Sale 

  
 5 

 
Agreement in respect of such Initial Receivables and Additional Receivables (collectively, the “Transferred Assets”). Until the Receivables Sale Termination Date, the
Depositor shall, automatically and without any further action on its part, sell and/or contribute, assign, transfer and convey to the Depositor, on each Business Day, each Additional Receivable not previously transferred to the Issuer and the Issuer
shall purchase each such Additional Receivable together with all of the other Transferred Assets related to such Receivable. 

(b) Purchase Price. In consideration of the sale and/or contribution, assignment, transfer and conveyance to the Issuer of
the Aggregate Receivables and related Transferred Assets, on the terms and subject to the conditions set forth in this Agreement, the Issuer shall, on each Sale Date, pay and deliver to the Depositor, in immediately available funds on the related
Sale Date, or otherwise promptly following such Sale Date if so agreed by the Depositor and the Issuer, a purchase price (the “Purchase Price”) equal to (i) in the case of one Receivable sold, assigned, transferred and
conveyed on such Sale Date, the fair market value of such Receivable on such Sale Date or (ii) in the case more than one Receivable is sold, assigned, transferred and conveyed on such Sale Date, the aggregate of the fair market values of such
Receivables on such Sale Date, payable in cash to the extent of funds available to the Issuer, plus an increase in the value of the Owner Trust Certificate of the Issuer, to the extent the Purchase Price exceeds the cash paid. 

(c) Removal of Designated Servicing Agreements and Receivables. On any date on or after the satisfaction of all conditions
specified in Section 2.1(c) of the Indenture, the Depositor may remove a Designated Servicing Agreement or a Designated Pool from the Designated Servicing Agreement Schedule (each such Servicing Agreement or Designated Pool so removed, a
“Removed Servicing Agreement” and a “Removed Pool”, respectively). Upon the removal of a Designated Servicing Agreement from the Designated Servicing Agreement Schedule, (i) except if Nationstar
conducts a Permitted Refinancing, all Receivables related to Advances under such Removed Servicing Agreement previously transferred to the Issuer and Granted to the Indenture Trustee for inclusion in the Trust Estate, shall remain subject to the
lien of the Indenture, in which case Nationstar may not assign to another Person any Receivables arising under that Removed Servicing Agreement until all Receivables that arose under that Removed Servicing Agreement or that Pool that are included in
the Trust Estate shall have been paid in full or sold in a Permitted Refinancing, and (ii) all Receivables related to such Removed Servicing Agreement or Removed Pool arising on or after the date that the related Servicing Agreement was removed
from the Designated Servicing Agreement Schedule (the “Stop Date”) shall not be sold to the Issuer and shall not constitute Additional Receivables. 
 (d) Marking of Books and Records. The Depositor shall, at its own expense, on or prior to (i) the Closing Date, in the case of the Initial Receivables, and (ii) the applicable Sale Date,
in the case of Additional Receivables, indicate in its books and records (including its computer records) that the Receivables in respect of a Designated Pool arising under each Designated Servicing Agreement and the related Transferred Assets have
been sold and/or contributed, assigned, transferred and conveyed to the Issuer in accordance with this Agreement. The Depositor shall not alter the indication referenced in this paragraph with respect to any Receivable during the term of this
Agreement, (except in accordance with Section 10(b)). If a third party, including a potential purchaser of a Receivable, should inquire as to the status of the 

  
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Receivables, the Depositor shall promptly indicate to such third party that the Receivables have been sold and/or contributed, assigned, transferred and conveyed and the Depositor (except in
accordance with Section 10(b)) shall not claim any right, title or interest (including, but not limited to ownership interest) therein. 
 Section 3. Depositor’s Acknowledgment and Consent to Assignment. 
 (a) Acknowledgment and Consent to Assignment. The Depositor hereby acknowledges that the Issuer has Granted to the Indenture Trustee, on behalf of the Noteholders, the rights (but not the
obligations) of the Issuer under this Agreement, including, without limitation, the right to enforce the obligations of the Depositor hereunder, and the obligations of Nationstar under the Receivables Sale Agreement. The Depositor hereby consents to
such Grant by the Issuer to the Indenture Trustee pursuant to the Indenture. The Depositor acknowledges that the Indenture Trustee (on behalf of itself, the Noteholders, any Supplemental Credit Enhancement Provider and any Liquidity Provider) shall
be a third party beneficiary in respect of the representations, warranties, covenants, rights, indemnities and other benefits arising hereunder that are so Granted by the Issuer. Moreover, the Depositor hereby authorizes and appoints as its
attorney-in-fact the Issuer and the Indenture Trustee, as the Issuer’s assignee, on behalf of the Issuer, to execute and deliver such documents or certificates as may be necessary in order to enforce its rights under this Agreement and its
rights to collect the Aggregate Receivables. 
 Section 4. Representations, Warranties and Certain Covenants of
Depositor. 
 The Depositor hereby makes the following representations and warranties for the benefit of the Issuer and
the Indenture Trustee for the benefit of the Noteholders, on which the Issuer is relying in purchasing the Aggregate Receivables and executing this Agreement, and on which the Noteholders are relying in purchasing the Notes. The representations are
made as of the date of this Agreement, and as of each Sale Date. Such representations and warranties shall survive the sale and/or contribution, assignment, transfer and conveyance of any Receivables to the Issuer. 

(a) General Representations, Warranties and Covenants. 

(i) Organization and Good Standing. The Depositor is a limited liability company duly organized and validly
existing under the laws of the State of Delaware with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and had at all relevant times, and now has
and so long as any Notes are outstanding, will continue to have, power, authority and legal right to acquire, own, hold, transfer, assign and convey the Receivables. 

(ii) Due Qualification. The Depositor is and will continue to be duly qualified to do business as a limited
liability company in good standing, and has obtained and will keep in full force and effect all necessary licenses, permits and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require
such qualifications, licenses, permits or approvals and as to which the failure 

  
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to obtain or to keep in full force and effect such licenses, permits or approvals would have a material and adverse impact upon the value or collectability of the Receivables and such failure
cannot be subsequently cured for the purposes of enforcing contracts. 
 (iii) Power and Authority. The
Depositor has and will continue to have all requisite limited liability company power and authority to own the Receivables, and the Depositor has and will continue to have all requisite limited liability company power and authority to execute and
deliver this Agreement, the initial Designated Servicing Agreement Schedule and each subsequent Designated Servicing Agreement Schedule, each other Transaction Document to which it is a party and any and all other instruments and documents necessary
to consummate the transactions contemplated hereby or thereby (collectively, the “Depositor’s Related Documents”), and to perform each of its obligations under this Agreement and under the Depositor’s Related
Documents, and to consummate the transactions contemplated hereby and thereby. The execution and delivery of this Agreement by the Depositor, and the execution and delivery of each of the Depositor’s Related Documents by the Depositor, the
performance by the Depositor of its obligations hereunder and thereunder, and the consummation of the transactions contemplated hereby and thereby have each been duly authorized by the Depositor and no further limited liability company action or
other actions are required to be taken by the Depositor in connection therewith. 
 (iv) Valid Transfer.
Upon the execution and delivery of this Agreement, each Assignment of Receivables and the Designated Servicing Agreement Schedule by each of the parties hereto, this Agreement shall evidence a valid sale and/or contribution, transfer, assignment and
conveyance of the Additional Receivables as of the applicable Sale Date to the Issuer, which is enforceable against creditors of and purchasers from the Depositor, except as such enforceability may be limited by bankruptcy, insolvency or similar
laws and by equitable principles. 
 (v) Binding Obligation. This Agreement and each of the other
Transaction Documents to which the Depositor is a party has been, or when delivered will have been, duly executed and delivered and constitutes the legal, valid and binding obligation of the Depositor, enforceable against the Depositor, in
accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency or similar laws and by equitable principles. 
 (vi) Good Title. Immediately prior to each Purchase of Receivables hereunder, the Depositor is the legal and beneficial owner of each such Receivable and the related Transferred Assets with respect
thereto, free and clear of any Adverse Claims other than Permitted Liens; and immediately upon the transfer and assignment thereof, the Issuer and its assignees will have good and marketable title to, with the right to sell and encumber, each
Receivable, whether now existing or hereafter arising, together with the related Transferred Assets with respect thereto, free and clear of any Adverse Claims other than Permitted Liens. 

  
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 (vii) Perfection. 

(A) This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Aggregate
Receivables and the related Transferred Assets with respect thereto in favor of the Issuer, which security interest is prior to all other Adverse Claims, and is enforceable as such against creditors of and purchasers from the Depositor; 

(B) The Depositor has caused the filing of all appropriate financing statements in the proper filing office in the
appropriate jurisdictions under the UCC in order to perfect the security interest in the Aggregate Receivables and the related Transferred Assets granted to the Issuer hereunder; and 

(C) The Depositor has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the
Aggregate Receivables and the related Transferred Assets, other than under this Agreement, except pursuant to any agreement that has been terminated prior to the date hereof. The Depositor has not authorized the filing of and is not aware of any
financing statement filed against the Depositor covering the Aggregate Receivables and the related Transferred Assets other than those filed in connection with this Agreement and the other Transaction Documents, and those that have been terminated
prior to the date hereof. The Depositor is not aware of any judgment or tax lien filings against the Depositor. 

(viii) No Violation. Neither the execution, delivery and performance of this Agreement, the other Transaction
Documents or the Depositor’s Related Documents by the Depositor nor the consummation by the Depositor of the transactions contemplated hereby or thereby nor the fulfillment of or compliance with the terms and conditions of this Agreement, the
Depositor’s Related Documents or the other Transaction Documents to which the Depositor is a party (A) will violate the organizational documents of the Depositor, (B) will constitute a default (or an event which, with notice or lapse
of time or both, would constitute a default), or result in a breach or acceleration of, any material indenture, agreement or other material instrument to which the Depositor or any of its Affiliates is a party or by which it or any of them is bound,
or which may be applicable to the Depositor, (C) constitutes a default (whether with notice or lapse of time or both), or results in the creation or imposition of any Adverse Claim upon any of the property or assets of the Depositor under the
terms of any of the foregoing, or (D) violates any statute, ordinance or law or any rule, regulation, order, writ, injunction or decree of any court or of any public, governmental or regulatory body, agency or authority applicable to the
Depositor or its properties. 
 (ix) No Proceedings. There is no action, suit or proceeding before or by
any court or governmental agency or body, domestic or foreign, now pending, or to the Depositor’s knowledge, threatened, or against the Depositor (A) in which a third party not affiliated with the Indenture Trustee or a Noteholder asserts
the invalidity of any of the Transaction Documents, (B) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by any of the Transaction Documents, (C) seeking any determination or ruling
that should reasonably be expected to affect materially and adversely the performance by the Depositor or its Affiliates of 

  
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their obligations under, or the validity or enforceability of, any of the Transaction Documents or (D) relating to the Depositor or its Affiliates and which should reasonably be expected to
affect adversely the federal income tax attributes of the Notes. 
 (x) Ownership of Issuer. 100% of the
Owner Trust Certificate of the Issuer is owned by the Depositor. No Person other than the Depositor has any rights to acquire all or any portion of the Owner Trust Certificate in the Issuer. 

(xi) Solvency. The Depositor, both prior to and after giving effect to each sale and/or contribution of Receivables
with respect to the Designated Servicing Agreements on each Sale Date, (1) is not, and will not be, “insolvent” (as such term is defined in § 101(32)(A) of the Bankruptcy Code), (2) is, and will be, able to pay its debts as
they become due, and (3) does not have unreasonably small capital for the business in which it is engaged or for any business or transaction in which it is about to engage. 

(xii) Information to Note Rating Agencies. All information provided by the Depositor to any Note Rating Agency,
taken together, is true and correct in all material respects. 
 (xiii) No Fraudulent Conveyance. The
Depositor is selling and/or contributing the Aggregate Receivables to the Issuer in furtherance of its ordinary business purposes, with no intent to hinder, delay or defraud any of its creditors. 

(xiv) Ability to Perform Obligations. The Depositor does not believe, nor does it have any reasonable cause to
believe, that it cannot perform each and every covenant contained in this Agreement. 
 (xv) Information.
No document, certificate or report furnished by the Depositor in writing pursuant to this Agreement, any other Transaction Document or in connection with the transactions contemplated hereby or thereby, taken together, contains or will contain when
furnished any untrue statement of a material fact. There are no facts relating to and known by the Depositor which when taken as a whole may impair the ability of the Depositor to perform its obligations under this Agreement or any other
Depositor’s Transaction Document, which have not been disclosed herein or in the certificates and other documents furnished by or on behalf of the Depositor pursuant hereto or thereto specifically for use in connection with the transactions
contemplated hereby or thereby. 
 (xvi) Fair Consideration. The aggregate consideration received by the
Depositor pursuant to this Agreement is fair consideration having reasonably equivalent value to the value of the Aggregate Receivables and the performance of the Depositor’s obligations hereunder. 

(xvii) Name. The legal name of the Depositor is as set forth in this Agreement and the Depositor does not have any
trade names, fictitious names, assumed names or “doing business” names. 
 (xviii) No
Subsidiaries. The Depositor has no Subsidiaries other than the Issuer. 

  
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 (xix) Special Purpose Entity. The Depositor is operated as an
entity separate from Nationstar. In addition, the Depositor: 
 (A) maintains and will continue to maintain its
assets separate and distinct from those of Nationstar and any Affiliates of Nationstar in a manner which facilitates their identification and segregation from those of Nationstar; 

(B) conducts and will continue to conduct all intercompany transactions with Nationstar or any Affiliate of Nationstar on
an arm’s-length basis; 
 (C) has not guaranteed and will not guarantee any obligation of Nationstar or any
of Nationstar’s Affiliates, nor has it had or will it have any of its obligations guaranteed by any such entities and has not held and will not hold itself out as responsible for debts of any such entity or for the decisions or actions with
respect to the business affairs of any such entity; 
 (D) has not permitted and will not permit the commingling
or pooling of its funds or other assets with the assets of Nationstar or any Affiliate of Nationstar (other than in respect of items of payment and funds which may be commingled until deposit into the Trust Accounts); 

(E) has and will continue to have separate deposit and other bank accounts to which neither Nationstar nor any of its
Affiliates has any access and does not at any time pool any of its funds with those of Nationstar or any of its Affiliates; 
 (F) maintains and will continue to maintain financial records which are separate from those of Nationstar or any of its Affiliates; 

(G) compensates and will continue to compensate all employees, consultants and agents, if any, or reimburses Nationstar
from its own funds, for services provided to it by such employees, consultants and agents, and, to the extent any employee, consultant or agent of it is also an employee, consultant or agent of Nationstar allocate the compensation of such employee,
consultant or agent between it and Nationstar as agreed to between them on an arm’s length basis; 
 (H)
conducts and will continue to conduct all of its business (whether in writing or orally) solely in its own name and on its own stationery and pays and will continue to pay its own expenses, makes and will make all communications to third parties
(including all invoices (if any), letters, checks and other instruments) solely in its own name (and not as a division of any other Person), and requires and will require that its employees, if any, when conducting its business identify themselves
as such (including, without limitation, by means of providing appropriate employees with business or identification cards identifying such employees as its employees); 

  
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 (I) adheres and will continue to adhere and comply with its organizational
documents and maintains and will maintain company records and books of account separate and distinct from Nationstar’s corporate records and the records of any Affiliate of Nationstar; 

(J) does not and will not permit Nationstar or any Affiliate of Nationstar, to be involved in its daily management;
provided, however, that officers of Nationstar or any such Affiliate shall not be prohibited from serving as officers of it; 
 (K) does not and will not act as agent for Nationstar or any Affiliate of Nationstar and agrees that it will not authorize Nationstar or any Affiliate of Nationstar to act as its agent; 

(L) pays and will continue to pay its own incidental administrative costs and expenses from its own funds, allocates and
will continue to allocate all other shared overhead expenses (including, without limitation, telephone and other utility charges, the services of shared employees, consultants and agents, and reasonable legal and auditing expenses), and other items
of cost and expense shared between it and Nationstar, as agreed to between them on an arm’s length basis; and 
 (M) takes and shall continue to take such actions as are necessary on its part to ensure that all procedures required by its organizational documents are duly and validly taken. 

(b) Survival. It its understood and agreed that the representations and warranties of the Depositor set forth in
Section 4(a) shall continue throughout the term of this Agreement. 
 (c) It is understood and agreed that the
(1) representations and warranties made by Nationstar pursuant to Section 4(b) of the Receivables Sale Agreement, and the representations and warranties made by the Depositor pursuant to this Agreement, on which the Issuer is relying in
accepting the Receivables and executing this Agreement and on which the Noteholders are relying in purchasing the Notes, and (2) the rights and remedies of the Depositor and its assignees under the Receivables Sale Agreement against Nationstar,
and the rights and remedies of the Issuer and its assignees under this Agreement against the Depositor, inure to the benefit of the Issuer and the Indenture Trustee for the benefit of the Noteholders, as the assignees of the Depositor’s rights
under the Receivables Sale Agreement and the Issuer’s rights hereunder. Such representations and warranties, and the rights and remedies for the breach thereof, shall survive the sale and/or contribution, assignment, transfer and conveyance of
any Receivables from the Depositor to the Issuer and its assignees and the pledge thereof by the Issuer to the Indenture Trustee for the benefit of the Noteholders and shall be fully exercisable by the Indenture Trustee for the benefit of the
Noteholders. 

  
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 Section 5. Remedies Upon Breach 

The Depositor shall inform the Indenture Trustee, the Administrator and the Administrative Agent promptly, in writing, upon the discovery
of any breach of the Depositor’s representations, warranties or covenants hereunder, or Nationstar’s representations, warranties or covenants under the Receivables Sale Agreement. Unless such breach shall have been cured or waived within
thirty (30) days after the earlier to occur of the discovery of such breach by the Depositor or receipt of written notice of such breach by the Depositor, such that, in the case of a representation and warranty, such representation and warranty
shall be true and correct in all material respects as if made on such day, and the Depositor shall have delivered to the Indenture Trustee an officer’s certificate describing the nature of such breach and the manner in which the relevant
representation and warranty became true and correct or the breach was otherwise cured, the Depositor shall either repurchase the affected Receivables or indemnify the Issuer and its assignees (including the Issuer, the Indenture Trustee and each of
their respective assignees) against and hold the Issuer and its assignees (including the Issuer, the Indenture Trustee and each of their respective assignees) harmless from any cost, liability and expense, including, without limitation, reasonable
attorneys’ fees and expenses, whether incurred in enforcement proceedings between the parties or otherwise, incurred as a result of, or arising from, such breach (each such repurchase or indemnification amount to be paid hereunder, an
“Indemnity Payment”), the amount of which shall equal the Receivables Balance of any affected Receivable. This Section 5 sets forth the exclusive remedy for a breach of representation, warranty or covenant
pertaining to a Receivable. Notwithstanding the foregoing, the breach of any representation, warranty or covenant shall not be waived by the Issuer under any circumstances without the consent of the Majority Holders of the Outstanding Notes of each
Series and the Administrative Agent. 
 Section 6. Termination. 

This Agreement (a) may not be terminated prior to the termination of the Indenture and (b) may be terminated at any time
thereafter by either party upon written notice to the other party. 
 Section 7. General Covenants of Depositor.

 The Depositor covenants and agrees that from the date of this Agreement until the termination of the Indenture:

 (a) RESERVED. 
 (b) Bankruptcy. The Depositor agrees that it shall comply with Section 12(k). The Depositor has not engaged in and does not expect to engage in a business for which its remaining
property represents an unreasonably small capitalization. The Depositor will not transfer any of the Aggregate Receivables with an intent to hinder, delay or defraud any Person. 

(c) Legal Existence. The Depositor shall do or cause to be done all things necessary on its part to preserve and keep in full
force and effect its existence in the jurisdiction of its formation, and to maintain each of its licenses, approvals, registrations and qualifications in all jurisdictions in which its ownership or lease of property or the conduct of its business
requires such licenses, approvals, registrations or qualifications, except for failures to maintain any such licenses, approvals, registrations or qualifications which cannot be subsequently cured for the purpose of enforcing contracts and which,
individually or in the aggregate, would not reasonably be expected to have a material adverse effect on the financial conditions, operations or the ability of the Depositor or the Issuer to perform its obligations hereunder or under any of the other
Transaction Documents. 

  
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 (d) Compliance With Laws. The Depositor shall comply in all material respects with
all laws, rules, regulations and orders of any governmental authority applicable to its operation, the noncompliance with which would reasonably be expected to have a material adverse effect on the financial condition, operations or the ability of
Nationstar, as receivables seller and servicer, the Depositor or the Issuer to perform their obligations hereunder or under any of the other Transaction Documents. 
 (e) Taxes. The Depositor shall pay and discharge all taxes, assessments and governmental charges or levies imposed upon the Depositor or upon its income and profits, or upon any of its property or
any part thereof, before the same shall become in default; provided that the Depositor shall not be required to pay and discharge any such tax, assessment, charge or levy so long as the validity or amount thereof shall be contested in good
faith by appropriate proceedings, or so long as the failure to pay any such tax, assessment, charge or levy would not have a material adverse effect on the ability of the Depositor to perform its obligations hereunder. The Depositor shall have set
aside on its books adequate reserves with respect to any such tax, assessment, charge or levy so contested. 
 (f) Compliance
with Representations and Warranties. The Depositor covenants that it shall conduct its business such that it will continually comply with all of its representations and warranties made in Section 4(a). 

(g) Keeping of Records and Books of Account. The Depositor shall maintain accurate, complete and correct documents, books, records
and other information which is reasonably necessary for the collection of all Aggregate Receivables (including, without limitation, records adequate to permit the prompt identification of each new Receivable and all collections of, and adjustments
to, each existing Receivable). 
 (h) Ownership. The Depositor will take all necessary action to establish and maintain,
irrevocably in the Issuer, legal and equitable title to the Aggregate Receivables and the related Transferred Assets, free and clear of any Adverse Claim (including, without limitation, the filing of all financing statements or other similar
instruments or documents necessary under the UCC (or any comparable law) in all appropriate jurisdictions to perfect the Issuer’s interest in such Aggregate Receivables and related Transferred Assets and such other action to perfect, protect or
more fully evidence the interest of the Issuer or the Indenture Trustee (as the Depositor’s assignee) may reasonably request). 
 (i) Reliance on Separateness. The Depositor acknowledges that the Indenture Trustee and the Noteholders are entering into the transactions contemplated by the Transaction Documents in reliance upon
the Depositor’s and Issuer’s identity as a legal entity that is separate from Nationstar. Therefore, from and after the date of execution and delivery of this Agreement, the Depositor will take all reasonable steps to maintain each of the
Depositor’s and Issuer’s identity as a separate legal entity and to make it manifest to third parties that each of the Depositor and the Issuer is an entity with assets and liabilities distinct from those of Nationstar. Without limiting
the generality of the foregoing and in addition to the other covenants set forth 

  
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herein, the Depositor (i) will not hold itself out to third parties as liable for the debts of the Issuer nor purport to own the Aggregate Receivables and other related Transferred Assets,
(ii) will take all other actions necessary on its part to ensure that the facts and assumptions regarding it set forth in the opinion issued by Sidley Austin LLP, dated as of the Closing Date, relating to substantive consolidation issues remain
true and correct at all times. 
 (j) Name Change, Offices and Records. In the event the Depositor makes any change to its
name (within the meaning of Section 9-507(c) of any applicable enactment of the UCC), type or jurisdiction of organization or location of its books and records the Depositor shall notify the Issuer and the Indenture Trustee thereof and (except
with respect to a change of location of books and records) shall deliver to the Indenture Trustee not later than thirty (30) days after the effectiveness of such change (i) such financing statements (Forms UCC1 and UCC3) which the
Indenture Trustee (acting at the direction of the Administrative Agent) may reasonably request to reflect such name change, or change in type or jurisdiction of organization, (ii) if the Indenture Trustee shall so request, an opinion of outside
counsel to the Depositor, in form and substance reasonably satisfactory to the Indenture Trustee, as to the perfection and priority of the Issuer’s security interest in the Aggregate Receivables in such event, (iii) such other documents
and instruments that the Indenture Trustee on behalf of the Noteholders may reasonably request in connection therewith and shall take all other steps to ensure that the Issuer continues to have a first priority, perfected security interest in the
Aggregate Receivables and the related Transferred Assets. 
 (k) Location of Jurisdiction of Organization and Records. In
the case of a change in the jurisdiction of organization of the Depositor, or in the case of a change in the “location” of the Depositor for purposes of Section 9-307 of the UCC, the Depositor must take all actions necessary or
reasonably requested by the Issuer, the Administrative Agent or the Indenture Trustee to amend its existing financing statements and continuation statements, and file additional financing statements and to take any other steps reasonably requested
by the Issuer, the Administrative Agent or the Indenture Trustee to further perfect or evidence the rights, claims or security interests of any of the Issuer or any assignee or beneficiary of the Issuer’s rights under this Agreement, including
the Indenture Trustee on behalf of the Noteholders under any of the Transaction Documents. 
 Section 8. Grant
Clause. 
 It is the intention of the parties hereto that each transfer and assignment contemplated by this Agreement
shall constitute an absolute sale or contribution, as applicable, of the related Receivables from the Depositor to the Issuer and that the Receivables shall not be part of Depositor’s estate or otherwise be considered property of the Depositor
in the event of the bankruptcy, receivership, insolvency, liquidation, conservatorship or similar proceeding relating to the Depositor or any of its Property. However, if such conveyance is deemed to be in respect of a loan, it is intended that:
(a) the rights and obligations of the parties shall be established pursuant to the terms of this Agreement; (b) the Depositor hereby grants to the Issuer a first priority security interest in all of the Depositor’s right, title and
interest in, to and under, whether now owned or hereafter acquired, the Receivables and the other Transferred Assets to secure payment of such loan; and (c) this Agreement shall constitute a security agreement under

  
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applicable law. The Depositor will, to the extent consistent with this Agreement, take such reasonable actions as may be necessary to ensure that, if this Agreement were deemed to create a
security interest in the Receivables and the other Transferred Assets, such security interest would be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of this Agreement. The
Depositor will, at its own expense, make all initial filings on or about the Original Closing Date and shall forward a copy of such filing or filings to the Indenture Trustee. 
 The Depositor hereby authorizes the Issuer and its assignees, successors and designees to file one or more UCC financing statements, financing statement amendments and continuation statements to perfect
the security interest described herein. 
 Section 9. Grant by Issuer. 

The Issuer shall have the right, upon notice to but without the consent of the Depositor, to Grant, in whole or in part, its interest
under this Agreement with respect to the Receivables to the Indenture Trustee and the Indenture Trustee then shall succeed to all rights of the Issuer under this Agreement. All references to the Issuer in this Agreement shall be deemed to include
its assignee or designee, specifically including the Issuer and the Indenture Trustee. 
 Section 10. Protection of
Indenture Trustee’s Security Interest in Trust Estate. 
 (a) The Depositor shall maintain accounts and records as
to each Receivable accurately and in sufficient detail to permit the reader thereof to know at any time following reasonable prior notice delivered to the Depositor, the status of such Receivable, including payments and recoveries made and payments
owing. 
 (b) The Depositor will maintain its computer records so that, from and after the Grant of the security interest under
the Indenture, the Depositor’s master computer records (including any back-up archives) that refer to any Receivables indicate that the Receivables are owned by the Issuer and pledged to the Indenture Trustee on behalf of the Noteholders.
Indication of the Indenture Trustee’s interest in a Receivable shall be deleted from or modified on the Depositor’s records when, and only when, the Receivable has been paid in full or released from the lien of the Indenture pursuant to
the Indenture. 
 Section 11. Limited Recourse. 

No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer under this Agreement or any certificate or
other writing delivered in connection herewith or therewith, against (a) any owner of a beneficial interest in the Issuer or (b) any holder of a beneficial interest in the Issuer in its individual capacity, except as any such Person may
have expressly agreed. Notwithstanding any other terms of this Agreement, the Notes, any other Transaction Documents or otherwise, the obligations of the Issuer under the Notes, the Indenture, this Agreement and each other Transaction Document to
which it is a party are limited recourse obligations of the Issuer, payable solely from the Trust Estate, and following realization of the Trust Estate and application of the proceeds thereof in accordance with the terms of the Indenture, none of
the Noteholders, the Indenture Trustee or any of the other parties to the Transaction Documents shall be entitled to take any further steps to recover any sums due but 

  
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still unpaid hereunder or thereunder, all claims in respect of which shall be extinguished and shall not thereafter revive. No recourse shall be had for the payment of any amount owing in respect
of the Notes, the Indenture or this Agreement or for any action or inaction of the Issuer against any officer, director, employee, shareholder, stockholder or incorporator of the Issuer or any of their successors or assigns for any amounts payable
under the Notes or this Agreement. It is understood that the foregoing provisions of this Section 11 shall not (i) prevent recourse to the Trust Estate for the sums due or to become due under any security, instrument or agreement
which is part of the Trust Estate or (ii) save as specifically provided therein, constitute a waiver, release or discharge of any indebtedness or obligation evidenced by the Notes or secured by the Indenture. It is further understood that the
foregoing provisions of this Section 11 shall not, subject to Section 12(k) hereof, limit the right of any Person, to name the Issuer as a party defendant in any proceeding or in the exercise of any other remedy under the Notes or
this Agreement, so long as no judgment in the nature of a deficiency judgment or seeking personal liability shall be asked for or (if obtained) enforced against any such Person or entity. 

Section 12. Miscellaneous. 
 (a) Amendment. This Agreement may not be amended except by an instrument in writing signed by the Depositor and the Issuer upon delivery of an Issuer Tax Opinion. In addition, so long as the Notes
are outstanding, this Agreement may not be amended without the prior written consent of (A) the Administrative Agent and (B) Noteholders of more than 50% (by Class Invested Amount) of each Class of each Series unless, in the case of clause
(B), (i) the amendment is for a purpose for which the Indenture could be amended without any Noteholder consent and (ii) the Depositor shall have delivered to the Indenture Trustee an officer’s certificate to the effect that the
Depositor reasonably believes that any such amendment will not have an Adverse Effect on the Holders of the Notes. Any such amendment requested by the Depositor shall be at the expense of the Depositor. Amendments shall require notice to Note Rating
Agencies as described in Section 11(a) of the Receivables Sale Agreement. 
 (b) Binding Nature; Assignment. The
covenants, agreements, rights and obligations contained in this Agreement shall be binding upon the successors and assigns of the Depositor and shall inure to the benefit of the successors and assigns of the Issuer, and all persons claiming by,
through or under the Issuer. 
 (c) Entire Agreement. This Agreement contains the entire agreement and understanding
among the parties hereto with respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements, understandings, inducements and conditions, express or implied, oral or written, of any nature whatsoever with respect to
the subject matter hereof. The express terms hereof control and supersede any course of performance and/or usage of the trade inconsistent with any of the terms hereof. 
 (d) Derivative Instrument. The parties hereto mutually acknowledge and agree that the Depositor shall have the right under this Agreement, at any time and from time to time, to convey to the Issuer
a prepaid derivative, credit enhancement agreement or similar instruments, without the consent of the Holders of the Notes. 

  
 17 

 (e) Severability of Provisions. Any provision of this Agreement which is prohibited,
unenforceable or not authorized in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition, unenforceability or non-authorization without invalidating the remaining provisions hereof or affecting the
validity, enforceability or legality of such provision in any other jurisdiction. 
 (f) Governing Law. THIS AGREEMENT
AND ANY CLAIM CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO OR IN CONNECTION WITH THIS AGREEMENT, THE RELATIONSHIP OF THE PARTIES HERETO, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES HERETO SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

(g) WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT
TO TRIAL BY JURY IN AN LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

(h) Counterparts. This Agreement may be executed in several counterparts and all so executed shall constitute one agreement
binding on all parties hereto, notwithstanding that all the parties have not signed the original or the same counterpart. Any counterpart hereof signed by a party against whom enforcement of this Agreement is sought shall be admissible into evidence
as an original hereof to prove the contents thereof. Delivery of an executed counterpart of a signature page to this Agreement by facsimile or other electronic means shall be effective as delivery of a manually executed counterpart of this
Agreement. 
 (i) Indulgences; No Waivers. Neither the failure nor any delay on the part of a party to exercise any
right, remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or future exercise of the same or of any other right,
remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver.

 (j) Headings Not to Affect Interpretation. The headings contained in this Agreement are for convenience of reference
only, and they shall not be used in the interpretation hereof. 
 (k) Benefits of Agreement. Nothing in this Agreement,
express or implied, shall give to any Person, other than the parties to this Agreement and their successors hereunder, any benefit of any legal or equitable right, power, remedy or claim under this Agreement. 

(l) No Petition. The Depositor, by entering into this Agreement, agrees that it will not at any time prior to the date which is
one year and one day, or, if longer, the applicable preference period then in effect, after the payment in full of all of the Notes, institute against the 

  
 18 

 
Issuer, or join in any institution against the Issuer of, Insolvency Proceedings or other similar proceedings, or other proceedings under any United States federal or state bankruptcy or similar
law in connection with any obligations relating to the Notes or this Agreement, or cause the Issuer to commence any reorganization, bankruptcy proceedings, or Insolvency Proceedings under any applicable state or federal law, including without
limitation any readjustment of debt, or marshaling of assets or liabilities or similar proceedings. This Section 12(l) shall survive termination of this Agreement. 
 (m) Owner Trustee Limitation of Liability. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Wilmington Trust, National
Association, not individually or personally, but solely as Owner Trustee of the Issuer under the Trust Agreement, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and
agreements herein made on the part of the Issuer is made and intended not as a personal representation, undertaking and agreement by Wilmington Trust, National Association but is made and intended for the purpose of binding only the Issuer,
(c) nothing herein contained shall be construed as creating any liability on Wilmington Trust, National Association, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any,
being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Wilmington Trust, National Association be personally liable for the payment of any indebtedness
or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or the other Transaction Documents. 

[Signature Pages Follow] 

  
 19 

 IN WITNESS WHEREOF, the parties hereto have caused this Receivables Pooling Agreement to be
duly executed as of the date first above written. 
  

			
	NATIONSTAR AGENCY ADVANCE FUNDING LLC, as Depositor
		
	 By:
	 	 /s/ Amar
Patel            

	  
 Name: Amar
Patel
  

	 Title: Executive Vice President

 [Signatures continue] 
  

  
 [Nationstar
Agency Advance Funding Trust - Signature Page to Amended and Restated Receivables Pooling Agreement] 

 
			
	 NATIONSTAR AGENCY ADVANCE FUNDING TRUST, as Issuer
 By: Wilmington Trust, National Association not in its individual capacity but solely as Owner Trustee

		
	 By:
	 	 /s/ Christopher M.
Cavalli            

	  
 Name:
Christopher M. Cavalli            
  

	 Title: Banking Officer            

 [Signatures continue] 

  
 [Nationstar
Agency Advance Funding Trust - Signature Page to Amended and Restated Receivables Pooling Agreement] 
 2 

 Acknowledged and Agreed as of the date first above written: 

BARCLAYS BANK PLC, 
 as sole Holder of
the Class A VFN 
  

			
	By:	 	/s/ Jamie Pratt
	  
 Name: Jamie
Pratt            
  

	 Title: Director            

 BARCLAYS BANK PLC, 
 as sole Holder of the Class B VFN 
  

			
	By:	 	/s/ Jamie Pratt
	  
 Name: Jamie
Pratt            
  

	 Title: Director            

 BARCLAYS BANK PLC, 
 as sole Holder of the Class C Bullet Payment VFN 
  

			
	By:	 	/s/ Jamie Pratt
	  
 Name: Jamie
Pratt            
  

	 Title: Director            

 [End of signatures] 

  
 [Nationstar
Agency Advance Funding Trust - Signature Page to Amended and Restated Receivables Pooling Agreement] 
 3 

 Schedule 1 

ASSIGNMENT OF RECEIVABLES 
 Dated as of January 31, 2013 
 This Assignment of Receivables (this
“Assignment”) is a schedule to and is hereby incorporated by this reference into a certain Amended and Restated Receivables Pooling Agreement (the “Agreement”), dated as of January 31, 2013, by
and between Nationstar Agency Advance Funding LLC, a Delaware limited liability company (the “Depositor”), and Nationstar Agency Advance Funding Trust, a statutory trust formed under the laws of the State of Delaware (the
“Issuer”). All capitalized terms used herein shall have the meanings set forth in, or referred to in, the Agreement. 
 By its signature to this Assignment, the Depositor hereby sells and/or contributes, assigns, transfers and conveys to the Issuer and its assignees, without recourse, but subject to the terms of the
Agreement, all of the Depositor’s right, title and interest in, to and under its rights to reimbursement for Receivables arising under each Designated Servicing Agreement listed on Attachment A attached hereto, existing on the date
of this Assignment and any Additional Receivables arising under each Designated Servicing Agreement listed on Attachment A, on or before the related Receivables Sale Termination Date, the other Transferred Assets related to such Receivables
described in Section 2(a) of the Agreement, pursuant to the terms of the Agreement, and the Issuer hereby accepts such sale and/or contribution, assignment, transfer and conveyance and agrees to transfer to the Depositor the
consideration set forth in the Agreement. 
 [Signature page follows] 

 
			
	NATIONSTAR AGENCY ADVANCE FUNDING LLC
		
	By:	 	 
	Name:	 	 
	Title:	 	 
	
	NATIONSTAR AGENCY ADVANCE FUNDING TRUST
	By: Wilmington Trust, National Association not in its individual capacity but solely as Owner Trustee
		
	Name:	 	 
	Title:	 	 

 [Nationstar Agency Advance Funding Trust - Signature Page to Schedule 1 to Amended and Restated
Receivables Pooling Agreement - Assignment of Receivables] 

 Attachment A to Schedule 1 

DESIGNATED SERVICING AGREEMENTS AND DESIGNATED POOLS RELATED TO AGGREGATE RECEIVABLES 

The Servicing Agreements of Nationstar Mortgage LLC related to the Pool of Meritage related Mortgage Loans serviced for Freddie Mac under Seller/Servicer
Number 157328. 
 The Servicing Agreements of Nationstar Mortgage LLC related to the Pool of Ganesha related Mortgage Loans serviced for Freddie
Mac under Seller/Servicer Number 157328. 
 The Servicing Agreements of Nationstar Mortgage LLC related to the Pool of Estrella related Mortgage
Loans serviced for Freddie Mac under Seller/Servicer Number 152360. 
 The Servicing Agreements of Nationstar Mortgage LLC related to the Pool
of Chameleon related Mortgage Loans serviced for Freddie Mac under Seller/Servicer Number 157328. 
 The Servicing Agreements of Nationstar
Mortgage LLC related to the Mortgage Loans serviced for Freddie Mac under Seller/Servicer Number 157386. 
 Attachment A to
Schedule 1-1

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