Document:

Exhibit 10.1

 

SALE
SUPPLEMENT

dated as of August 1, 2012

between

OCWEN LOAN SERVICING, LLC, as Seller,

and

HLSS HOLDINGS, LLC, as Purchaser

    	 

    	 	

    
 

TABLE OF CONTENTS

 

	 	 	 	Page

 

	ARTICLE 1	 	DEFINITIONS; ReFerence to MASTER SERVICING RIGHTS PURCHASE AGREEMENT	1

 

	1.1	 	Definitions	1
	 	 	 	 
	1.2	 	Reference to the Master Servicing Rights Purchase Agreement	7

 

	ARTICLE 2	 	PURCHASE AND SALE OF SERVICING RIGHTS AND RIGHTS TO MSRS; Assumed Liabilities	7

 

	2.1	 	Assignment and Conveyance of Rights to MSRs	7
	 	 	 	 
	2.2	 	Automatic Assignment and Conveyance of Servicing Rights	7
	 	 	 	 
	2.3	 	MSR Purchase Price	8
	 	 	 	 
	2.4	 	Assumed Liabilities and Excluded Liabilities	8
	 	 	 	 
	2.5	 	Remittance of Servicing Fees and Related Amounts	9
	 	 	 	 
	2.6	 	Payment of Estimated Purchase Price	10

 

	ARTICLE 3	 	Purchase and Sale of Servicing Advance receivables	10

 

	3.1	 	Assignment and Conveyance of Servicing Advance Receivables	10
	 	 	 	 
	3.2	 	Servicing Advance Receivables Purchase Price	11
	 	 	 	 
	3.3	 	Servicing Advances	11
	 	 	 	 
	3.4	 	Reimbursement of Servicing Advances	11

 

	ARTICLE 4	 	REPRESENTATIONS AND WARRANTIES OF SELLER	11

 

	4.1	 	General Representations	12
	 	 	 	 
	4.2	 	Title to Transferred Assets	12
	 	 	 	 
	4.3	 	Right to receive Servicing Fees	12
	 	 	 	 
	4.4	 	Servicing Agreements and Underlying Documents	12
	 	 	 	 
	4.5	 	Mortgage Pool Information, Related Matters	12
	 	 	 	 
	4.6	 	Enforceability of Servicing Agreements	12
	 	 	 	 
	4.7	 	Compliance With Servicing Agreements	13
	 	 	 	 
	4.8	 	No Recourse	14
	 	 	 	 
	4.9	 	The Mortgage Loans	14
	 	 	 	 
	4.10	 	Servicing Advance Receivables	15
	 	 	 	 
	4.11	 	Servicing Agreement Consents and Other Third Party Approvals	16
	 	 	 	 
	4.12	 	Servicing Advance Financing Agreements	16

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TABLE OF CONTENTS
(continued)

 

	 	 	 	Page
	 	 	 	 
	4.13	 	Anti-Money Laundering Laws	17
	 	 	 	 
	4.14	 	Servicer Ratings	17
	 	 	 	 
	4.15	 	Eligible Servicer	17
	 	 	 	 
	4.16	 	HAMP	17
	 	 	 	 

 

	ARTICLE 5	 	Conditions precedent	17

 

	5.1	 	Conditions to the Purchase of the Rights to MSRs and the Advance SPEs	17

 

	ARTICLE 6	 	SERVICING MATTERS	18

 

	6.1	 	Seller as Servicer	18
	 	 	 	 
	6.2	 	Servicing	18
	 	 	 	 
	6.3	 	Collections from Obligors and Remittances	18
	 	 	 	 
	6.4	 	Servicing Practices	19
	 	 	 	 
	6.5	 	Servicing Reports	19
	 	 	 	 
	6.6	 	Escrow Accounts	19
	 	 	 	 
	6.7	 	Notices and Financial Information	19
	 	 	 	 
	6.8	 	Defaults under Deferred Servicing Agreements	19
	 	 	 	 
	6.9	 	Continuity of Business	19
	 	 	 	 
	6.10	 	Optional Termination or Clean Up Calls	20
	 	 	 	 
	6.11	 	Amendments to Deferred Servicing Agreements; Transfer of Servicing Rights	20
	 	 	 	 
	6.12	 	Assumption of Servicing Duties; Transfer of Rights to MSRs and Servicing Rights	20
	 	 	 	 
	6.13	 	Termination Event	20
	 	 	 	 
	6.14	 	Servicing Transfer	21
	 	 	 	 
	6.15	 	Incorporation of Provisions from Subservicing Agreement	21

 

	ARTICLE 7	 	Seller Servicing fees; costs and expenses	21

 

	7.1	 	Seller Monthly Servicing Fee	21
	 	 	 	 
	7.2	 	Performance Fee	21
	 	 	 	 
	7.3	 	Costs and Expenses	22
	 	 	 	 
	7.4	 	Ancillary Income	22
	 	 	 	 
	7.5	 	Calculation and Payment	22
	 	 	 	 
	7.6	 	No Offset	22

 

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TABLE OF CONTENTS
(continued) 

 

	 	 	 	Page
	 	 	 	 
	7.7	 	Servicing Fee Reset Date	22

 

	ARTICLE 8	 	Indemnification	23

 

	8.1	 	Seller Indemnification of Purchaser	23
	 	 	 	 
	8.2	 	Purchaser Indemnification of Seller	23
	 	 	 	 
	8.3	 	Indemnification Procedures	24
	 	 	 	 
	8.4	 	Tax Treatment	25
	 	 	 	 
	8.5	 	Survival	25
	 	 	 	 
	8.6	 	Additional Indemnification	25
	 	 	 	 
	8.7	 	Specific Performance	25

 

	ARTICLE 9	 	Grant of Security Interest	26

 

	9.1	 	Granting Clause	26

 

	ARTICLE 10	 	Miscellaneous Provisions	27

 

	10.1	 	Further Assurances	27
	 	 	 	 
	10.2	 	Compliance with Applicable Laws; Licenses	27
	 	 	 	 
	10.3	 	Merger, Consolidation, Etc.	27
	 	 	 	 
	10.4	 	Annual Officer’s Certificate	27
	 	 	 	 
	10.5	 	Accounting Treatment	28
	 	 	 	 
	10.6	 	Incorporation	28

 

	Exhibit A	Form of Monthly Remittance Report
	Schedule I	Servicing Agreements
	Schedule II	Underlying Documents
	Schedule III	Retained Servicing Fee Percentage
	Schedule IV	Target Ratio
	Schedule V	Valuation Percentage
	Schedule VI	Amortization Percentage

 

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SALE
SUPPLEMENT

This
Sale Supplement, dated as of August 1, 2012 (this “Sale Supplement”), is between Ocwen Loan Servicing, LLC,
a Delaware limited liability company (“Seller”), and HLSS Holdings, LLC, a Delaware limited liability company
(“Purchaser”):

WITNESSETH:

WHEREAS,
Seller and Purchaser are parties to that certain Master Servicing Rights Purchase Agreement, dated as of February 10, 2012 (the
“Agreement”), with respect to the sale by Seller and the purchase by
Purchaser of the Servicing Rights and other assets; and

WHEREAS,
Seller and Purchaser desire to enter into the transactions described in the Agreement as supplemented by this Sale Supplement;

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and in consideration
of the mutual covenants herein contained, the parties hereto hereby agree as follows:

ARTICLE
1

DEFINITIONS; ReFerence to MASTER SERVICING RIGHTS PURCHASE AGREEMENT

1.1             Definitions. (a) For purposes of this Sale Supplement, the following capitalized terms shall have the respective meanings
set forth or referenced below:

“Additional
Servicing Advance Receivable”: As defined in Section 3.1.

“Advance
SPEs”: Each of HomEq Servicer Advance Facility Transferor, LLC, a Delaware limited liability company, and HomEq Servicer
Advance Receivables Trust 2010-ADV1, a Delaware statutory trust.

“Amortization
Percentage”: For each calendar month following the Closing Date, the percentage set forth on Schedule VI to this
Sale Supplement for such calendar month.

“Assumed
Liabilities”: As defined in Section 2.4.

“Book
Value” means, with respect to the Rights to MSRs related to any Deferred Servicing Agreement, as of a specified date, an
amount equal to the amortized book value of such Rights to MSRs on Purchaser’s financial statements as of such date.

“Closing
Date”: August 1, 2012; provided that, with respect to Section 5.3 of the Agreement, the Closing Date shall be the
related Servicing Transfer Date.

“Closing
Statement”: The statement delivered by Seller to Purchaser on the Closing Statement Delivery Date setting forth the good
faith calculation of the Estimated Purchase Price.

 

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“Closing
Statement Delivery Date”: The Closing Date, unless otherwise agreed by Seller and Purchaser.

“Consent
Period”: For each Deferred Servicing Agreement and each related Deferred Servicing Right, the period, if any, from and including
the Closing Date to and including the related Servicing Transfer Date.

“Cut-off
Date”: July 31, 2012, or such other date as is agreed by Seller and Purchaser.

“Deferred
Mortgage Loan”: A mortgage loan subject to a Deferred Servicing Agreement.

“Deferred
Servicing Agreement”: As of any date of determination, each Servicing Agreement that is not a Transferred Servicing Agreement
on such date. For avoidance of doubt, on the Closing Date each Servicing Agreement is a Deferred Servicing Agreement.

“Deferred
Servicing Right”: As of any date of determination, each Servicing Right arising under a Servicing Agreement that is a Deferred
Servicing Agreement on such date.

“Excess
Servicing Advances”: For any calendar month, the amount, if any, by which the outstanding Servicer Advances with respect
to the Servicing Agreements as of the last day of such calendar month exceeds an amount equal to (a) the Target Ratio for such
calendar month multiplied by (b) the unpaid principal balance of the Mortgage Loans subject to the Servicing Agreements as of
the last day of such calendar month.

“Excluded
Liabilities”: As defined in Section 2.4(c).

“Fannie
Mae”: As defined in the Subservicing Agreement.

“Indemnified
Person”: A Purchaser Indemnified Party or a Seller Indemnified Party, as the case may be.

“Indemnifying
Person”: The Seller pursuant to Section 8.1 or the Purchaser pursuant to Section 8.2, as the case may be.

“Initial
Servicing Advance Receivable”: As defined in Section 3.1.

“Investor”:
With respect to any Securitization Transaction, any holder or other beneficial owner of any securities issued by the related Trust.

“Liability”:
As defined in Section 8.1.

“Monthly
Remittance Report”: With respect to each Deferred Servicing Agreement, a report substantially in the form attached as Exhibit
A to this Sale Supplement or in such other form as may be agreed to by Seller and Purchaser from time to time.

“Monthly
Servicing Fee”: For each calendar month, the Base Subservicing Fee (as defined in the Subservicing Supplement) for such
calendar month together with the Seller Monthly Servicing Fee for such calendar month.

 

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“Monthly
Servicing Oversight Report”: A report with respect to all of the Deferred Servicing Agreements and related Mortgage Loans
in such form as may be agreed to by Seller and Purchaser from time to time.

“MSR
Purchase Price”: For each Servicing Agreement, an amount equal to the product of (i) the Valuation Percentage for such Servicing
Agreement and (ii) the aggregate unpaid principal balance of the Mortgage Loans subject to such Servicing Agreement as of the
Closing Date.

“P&I
Advance”: As defined in the Subservicing Agreement.

“Performance
Fee”: As defined in Section 7.2.

“Purchaser
Indemnified Party”: As defined in Section 8.2.

“Purchase
Price”: The sum of (a) the aggregate MSR Purchase Price for all of the Servicing Agreements and (b) the aggregate Servicing
Advance Receivables Purchase Price for any Initial Servicing Advance Receivables.

“Retained
Servicing Fee”: For any calendar month, an amount equal to the sum of (a) the product of the Retained Servicing Fee Percentage
for such calendar month and the average unpaid principal balance of all Mortgage Loans subject to the Deferred Servicing Agreements
and the Transferred Servicing Agreements during such calendar month and (b) the Retained Servicing Fee Shortfall, if any, for
the immediately prior calendar month.

“Retained
Servicing Fee Percentage”: For any calendar month, the percentage set forth on Schedule III to this Sale Supplement.

“Retained Servicing Fee
Shortfall”: For any calendar month, beginning in August 2012, an amount equal to the excess, if any, of (a) the Retained
Servicing Fee for such calendar month over (b) the excess, if any, of (x) the aggregate Servicing Fees actually received by Purchaser
with respect to the Deferred Servicing Agreements and pursuant to the Transferred Servicing Agreements during such calendar month
(whether directly pursuant to such Transferred Servicing Agreements or pursuant to this Sale Supplement) over (y) the Monthly
Servicing Fee for such calendar month.

“Rights
to MSRs”: For each Servicing Agreement, each of the following assets:

(a)             all Servicing Fees payable to Seller as of or after the Closing Date under such Servicing Agreement and the right to receive all
Servicing Fees accruing and payable as of or after the Closing Date under such Servicing Agreement;

(b)             the right to receive any investment income earned on amounts on deposit in any Custodial Account or Escrow Account related to
such Servicing Agreements as of or after the Closing Date;

(c)             the right to purchase the Servicing Rights pursuant to Section 2.2 of this Sale Supplement; and

 

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(d)             any proceeds of any of the foregoing.

“Sale
Date”: For each Servicing Advance Receivable, the date on which such Servicing Advance Receivable is transferred to Purchaser
pursuant to Section 3.1.

“Seller
Indemnified Party”: As defined in Section 8.1.

“Seller
Monthly Servicing Fee”: As defined in Section 7.1.

“Servicing
Advance Financing Agreements”: Each of that certain Amended and Restated Indenture, dated as of the Closing Date, among
HomEq Servicer Advance Receivables Trust 2010-ADV1, as issuer, Deutsche Bank National Trust Company, as indenture trustee, calculation
agent, paying agent and securities intermediary, Purchaser, as administrator and servicer, Seller, as servicer and as a subservicer,
and Barclays Bank plc, as administrative agent, and each other “Transaction Document” as such term is defined therein,
in each case as the same may be amended from time to time.

“Servicing
Advance Payment Date”: (a) For any Initial Servicing Advance Receivable, the Closing Date and (b) for any Additional Servicing
Advance Receivable, the Funding Date (as defined in the Servicing Advance Financing Agreement) for such Additional Servicing Advance
Receivable.

“Servicing
Advance Receivable”: For each Servicer Advance, the right to receive reimbursement for such Servicer Advance under the Servicing
Agreement pursuant to which such Servicer Advance was made.

“Servicing
Advance Receivable Purchase Price”: With respect to each Servicing Advance Payment Date, for each Servicing Advance Receivable,
the outstanding amount that is reimbursable under the related Servicing Agreement with respect to such Servicing Advance Receivable
as of such Servicing Advance Payment Date.

“Servicing
Agreement”: Each of the servicing agreements described on Schedule I and each of the Underlying Documents described
on Schedule II governing the rights, duties and obligations of Seller as servicer under such agreements.

“Servicing
Fee Reset Date”: The date which is six (6) years after the Closing Date.

“Servicing
Rights Assets”: As defined in Section 2.2.

“Servicing
Transfer Date”: With respect to each Servicing Agreement, the date on which all of the Third Party Consents related to such
Servicing Agreement necessary to transfer the related Servicing Rights to Seller are received or such later date mutually agreed
to by Seller and Purchaser.

“Special
Damages”: As defined in Section 8.3(d).

 

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“Subservicing
Agreement”: That certain Master Subservicing Agreement, dated as of February 10, 2012, between the Seller, as subservicer,
and the Purchaser, as servicer, as the same may be amended, amended and restated, supplemented or otherwise modified from time
to time.

“Subservicing
Supplement”: That certain Subservicing Supplement, dated as of August 1, 2012, between the Seller, as subservicer, and the
Purchaser, as servicer, as the same may be amended, amended and restated, supplemented or otherwise modified from time to time.

“Summary
Schedule”: As defined in Section 4.5(a).

“Target
Ratio” for each calendar month shall mean the amount specified in Schedule IV with respect to such month.

“Termination
Event” means the occurrence of any one or more of the following events (whatever the reason for the occurrence of such event
and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order
of any court or any order, rule or regulation of any administrative or governmental body):

(a)             Seller fails to remit any payment required to be made under the terms of this Sale Supplement (to the extent not resulting solely
from Purchaser failing to purchase a Servicing Advance Receivable required to be purchased by Purchaser under this Sale Supplement),
which continues unremedied for a period of one (1) Business Day after the date on which written notice of such failure shall have
been given by Purchaser to Seller;

(b)             Seller fails to deliver any required information or report that is complete in all material respects as required pursuant to this
Sale Supplement in the manner and time frame set forth herein, which failure continues unremedied for a period of two (2) Business
Days after the date on which written notice of such failure shall have been given to Seller by Purchaser;

(c)             Seller fails to observe or perform in any material respect any other covenant or agreement of Seller set forth in the Agreement
or this Sale Supplement, which failure continues unremedied for a period of thirty (30) days after the date on which written notice
of such failure shall have been given to Seller by Purchaser; provided however, in the event that any such default is incurable
by its own terms, a Termination Event shall be deemed to occur immediately hereunder without regard to the thirty (30) day cure
period set forth above;

(d)             a material breach by Seller of any representation and warranty made by it in the Agreement or this Sale Supplement, which breach
continues unremedied for a period of thirty (30) days after the date on which written notice of such failure shall have been given
to Seller by Purchaser; provided, however, in the event that any such default is incurable by its own terms, a Termination Event
shall be deemed to occur immediately hereunder without regard to the thirty (30) day cure period set forth above;

(e)             Seller fails to maintain residential primary servicer ratings for subprime loans of at least “Average” by Standard
& Poor’s Rating Services, a division of Standards & Poor’s Financial Services LLC (or its successor in interest),
“SQ3” by Moody’s Investors Service, Inc. (or its successor in interest) and “RPS4+” and “RSS4+”
by Fitch Ratings (or its successor in interest);

 

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(f)             Seller ceases to be a Fannie Mae, Freddie Mac or FHA approved servicer;

(g)             the occurrence of a Material Adverse Event;

(h)             any of the conditions specified in the applicable “Servicer Default”, “Servicer Event of Default,” “Event
of Default,” “Servicing Default” or “Servicer Event of Termination” or similar sections of any Deferred
Servicing Agreement or any related Underlying Document shall have occurred with respect to Seller for any reason not caused by
Purchaser (other than as a result of any delinquency or loss trigger which was already triggered as of the Closing Date with respect
to such Deferred Servicing Agreement); provided that Seller shall be entitled to any applicable cure period set forth in such
Deferred Servicing Agreement or Underlying Document;

(i)             a decree or order of a court or agency or supervisory authority having jurisdiction for the appointment of a conservator or receiver
or liquidator in any insolvency, bankruptcy, readjustment of debt, marshaling of assets and liabilities or similar proceedings,
or for the winding-up or liquidation of its affairs, shall have been entered against Seller and such decree or order shall have
remained in force undischarged or unstayed for a period of thirty (30) days;

(j)             Seller shall consent to the appointment of a conservator or receiver or liquidator in any insolvency, bankruptcy, readjustment
of debt, marshaling of assets and liabilities or similar proceedings of or relating to Seller or of or relating to all or substantially
all of its property; or

(k)             Seller shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage of
any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend
payment of its obligations.

“Third-Party
Claim”: As defined in Section 8.3(b).

“Transferred
Assets”: The Rights to MSRs and the Transferred Servicing Rights.

“Transferred
Receivables Assets”: As defined in Section 3.1.

“Transferred
Servicing Agreement”: As of any date of determination, a Servicing Agreement with respect to which the related Servicing
Rights have been transferred to Purchaser pursuant to Section 2.2 of this Sale Supplement or to its designee in accordance
with the terms of this Sale Supplement on or prior to such date. For the avoidance of doubt, on the Closing Date no Servicing
Agreement is a Transferred Servicing Agreement.

“Transferred
Servicing Rights”: As of any date of determination, any Servicing Rights that have been transferred to Purchaser pursuant
to Section 2.2 of this Sale Supplement on or prior to such date.

“UCC”:
As defined in Section 3.1.

“Valuation
Percentage”: For each Servicing Agreement, the valuation percentage for such Servicing Agreement as set forth in Schedule
V hereto.

 

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(b)             Any capitalized term used but not defined in this Sale Supplement shall have the meaning assigned to such term in the Agreement.

1.2             Reference to the Master Servicing Rights Purchase Agreement. Each of Seller and Purchaser agrees that (a) this Sale Supplement
is a “Sale Supplement” executed pursuant to Section 2.1 of the Agreement, (b) the terms of this Sale Supplement
are hereby incorporated into the Agreement with respect to the Servicing Agreements and the related Mortgage Loans to the extent
set forth therein and herein, and (c) the terms of this Sale Supplement apply to the Servicing Agreements specified herein and
not to any other “Servicing Agreement” as that term is used in the Agreement. In the event of any conflict between
the provisions of this Sale Supplement and the Agreement, the terms of this Sale Supplement shall prevail.

ARTICLE
2

PURCHASE AND SALE OF SERVICING RIGHTS AND RIGHTS TO MSRS; Assumed Liabilities

2.1             
Assignment and Conveyance of Rights to MSRs.

(a)             As of the Closing Date, subject to the terms and conditions set forth in the Agreement and this Sale Supplement, Seller does hereby
sell, convey, assign and transfer to Purchaser, without recourse except as provided herein, free and clear of any Liens, all of
its right, title and interest in and to all of the Rights to MSRs for each of the Servicing Agreements.

(b)             On and after the Closing Date, Purchaser shall be obligated to maintain a complete and accurate list of Servicing Agreements that
are Deferred Servicing Agreements and Transferred Servicing Agreements, as the same shall be amended and modified from time to
time in connection with Deferred Servicing Agreements becoming Transferred Servicing Agreements as contemplated by the terms and
provisions of this Sale Supplement. The list of Deferred Servicing Agreements and Transferred Servicing Agreements maintained
by Purchaser under this Section 2.1(b) shall be (x) available for inspection by Seller at any time during normal business
hours and (y) presumed to be accurate absent manifest error on the part of Purchaser.

2.2             Automatic Assignment and Conveyance of Servicing Rights. As of the Servicing Transfer Date with respect to each Servicing
Agreement, Seller does hereby sell, convey, assign and transfer to Purchaser, without recourse except as provided herein, free
and clear of any Liens, without further action by any Person, all of its right, title and interest in and to the following assets
(the “Servicing Rights Assets”):

(a)             the Servicing Rights in respect of all of the Mortgage Loans and REO Properties related to such Servicing Agreement, in each case
together with all related security, collections and payments thereon and proceeds of the conversion, voluntary or involuntary
of the foregoing;

(b)             all Ancillary Income and Prepayment Interest Excess received as of or after the related Servicing Transfer Date under such Servicing
Agreements and any rights to exercise any optional termination or clean-up call provisions under such Servicing Agreements;

 

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(c)             all Custodial Accounts and Escrow Accounts related to such Servicing Agreement and amounts on deposit therein;

(d)             all files and records in Seller’s possession or control, including the related Database, relating to the Servicing Rights
Assets specified in clauses (a), (b) and (c);

(e)             all causes of action, lawsuits, judgments, claims, refunds, choses in action, rights of recovery, rights of set-off, rights of
recoupment, demands and any other rights or claims of any nature, whether arising by way of counterclaim or otherwise, available
to or being pursued by Seller to the extent related exclusively to such Servicing Rights Assets and/or the Assumed Liabilities;
and

(f)             any proceeds of any of the foregoing.

2.3             MSR Purchase Price. Subject to the conditions set forth in this Sale Supplement and the Agreement, as consideration for
the purchase of the Rights to MSRs and the Servicing Rights Assets, Purchaser shall pay the MSR Purchase Price for each Servicing
Agreement to Seller.

2.4             Assumed Liabilities and Excluded Liabilities.

(a)             Upon the terms and subject to the conditions set forth herein and in the Agreement, Purchaser shall assume, (i) prior to the Servicer
Transfer Date for each Servicing Agreement, and solely as between Purchaser and Seller, all of the duties, obligations and liabilities
of Seller (other than the Excluded Liabilities), as servicer but subject to such Servicing Agreements, and provided that Seller
will continue to act as the servicer as set forth herein and in no event shall Purchaser be a subservicer, subcontractor or servicer
within the meaning of a Servicing Agreement prior to the related Servicing Transfer Date and (ii) as of or after the Servicing
Transfer Date for each Servicing Agreement, all of the duties, obligations, and liabilities of Seller (other than the Excluded
Liabilities) as servicer accrued and pertaining solely to the period from and after such Servicing Transfer Date relating to the
Servicing Rights that are subject to such Servicing Agreement (the “Assumed Liabilities”).

(b)             Purchaser
hereby agrees to act as servicer under each Servicing Agreement following the related Servicing Transfer Date and assumes responsibility
for the due and punctual performance and observance of each covenant and condition to be performed or observed by the servicer
under the applicable Servicing Agreement, including the obligation to service each Mortgage Loan in accordance with the terms
of the related Servicing Agreement; provided, however,
that the parties hereto acknowledge and agree that neither Purchaser nor any successor servicer assumes any liabilities of Seller,
or any obligations of Seller relating to any period of time prior to the applicable Servicing Transfer Date. Seller hereby acknowledges
that neither this Sale Supplement nor the Agreement limits or otherwise releases it from its liabilities for its acts or omissions
as the servicer under the Servicing Agreements prior to the related Servicing Transfer Date. Purchaser hereby acknowledges that
Seller shall have no further obligation as servicer under any of the Servicing Agreements on and after the related Servicing Transfer
Date, except to the extent set forth in this Sale Supplement, the Agreement, the Subservicing Agreement and the Subservicing Supplement.

 

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(c)             Notwithstanding anything to the contrary contained herein, Purchaser does not assume any duties, obligations or liabilities of
any kind, whether known, unknown, contingent or otherwise, (i) not relating to the Transferred Servicing Rights or the Assumed
Liabilities, (ii) attributable to any acts or omissions to act taken or omitted to be taken by Seller (or any of its Affiliates,
agents, contractors or representatives, including, without limitation, any subservicer of the Mortgage Loans) prior to the applicable
Servicing Transfer Date, (iii) attributable to any actions, causes of action, claims, suits or proceedings or violations
of law or regulation attributable to any acts or omissions to act taken or omitted to be taken by Seller (or any of its Affiliates,
agents, contractors or representatives, including, without limitation, any subservicer of the Mortgage Loans) prior to the applicable
Servicing Transfer Date or (iv) relating to any representation and warranty made by Seller or any of its Affiliates with respect
to the related Mortgage Loans or the Transferred Assets (the “Excluded Liabilities”). Without limiting the
generality of the foregoing, it is not the intention that the assumption by Purchaser of the Assumed Liabilities shall in any
way enlarge the rights of any third parties relating thereto. Nothing contained in the Agreement or this Sale Supplement shall
prevent any party hereto from contesting matters relating to the Assumed Liabilities with any third party obligee.

(d)             From and after the related Servicing Transfer Date, except as otherwise provided for in Section 8.3 of this Sale Supplement,
(i) Purchaser shall have complete control over the payment, settlement or other disposition of the Assumed Liabilities and the
right to commence, control and conduct all negotiations and proceedings with respect thereto, subject to the terms of the related
Servicing Agreements and (ii) Seller shall have complete control over the payment, settlement or other disposition of the
Excluded Liabilities and the right to commence, control and conduct all negotiations and proceedings with respect thereto. Except
as otherwise provided in this Sale Supplement, (i) Seller shall promptly notify Purchaser of any claim made against Seller
with respect to the Assumed Liabilities or the Transferred Assets and shall not voluntarily make any payment of, settle or offer
to settle, or consent or compromise or admit liability with respect to, any Assumed Liabilities or Transferred Assets without
the prior written consent of Purchaser and (ii) Purchaser shall promptly notify Seller of any claim made against Purchaser
with respect to the Excluded Liabilities and shall not voluntarily make any payment of, settle or offer to settle, or consent
or compromise or admit liability with respect to, any Excluded Liabilities without the prior written consent of Seller.

2.5             Remittance of Servicing Fees and Related Amounts.

(a)             Seller shall, to the extent permitted under any Deferred Servicing Agreement cause any Servicing Fees and, to the extent Seller
is permitted to retain such amounts under the related Servicing Agreement, any investment income earned on any amounts or deposit
in any Custodial Accounts and Escrow Accounts that are payable to Seller on or after the Closing Date under such Deferred Servicing
Agreement, to be deposited directly into Purchaser’s account in accordance with Purchaser’s written directions. In
any case, Seller shall within one (1) Business Day of the receipt thereof, remit to Purchaser any Servicing Fees and, to the extent
Seller is permitted to retain such amounts under the related Servicing Agreement, any investment income earned on any amounts
or deposit in any Custodial Accounts and Escrow Accounts that are received by Seller under any Deferred Servicing Agreement after
the Closing Date. Any such amounts shall be remitted in accordance with Purchaser’s written directions.

 

    	-9-

    	 

    
 

(b)             Seller shall exercise any rights under any Deferred Servicing Agreement to direct the investment of amounts in any Custodial Account
or Escrow Account in accordance with Purchaser’s directions and the terms of the related Deferred Servicing Agreement, the
related Mortgage Loan Documents and Applicable Law.

2.6             Payment of Estimated Purchase Price. Subject to the conditions set forth in this Sale Supplement and the Agreement, Purchaser
shall pay the Estimated Purchase Price to Seller at the Closing. The Estimated Purchase Price shall be reconciled to the final
Purchase Price in accordance with Section 2.5 of the Agreement.

ARTICLE
3

Purchase and Sale of Servicing Advance receivables

3.1             Assignment
and Conveyance of Servicing Advance Receivables. Commencing on the Closing Date, and continuing until the close of business
on the earlier of the related Servicing Transfer Date or date of Seller’s termination as servicer pursuant to such Servicing
Agreement, subject to the terms and conditions set forth in the Agreement and this Sale Supplement, Seller hereby sells, conveys,
assigns and transfers to Purchaser, and Purchaser acquires from Seller, without recourse except as provided herein, free and clear
of any Liens, all of Seller’s right, title and interest, whether now owned or hereafter acquired, in, to and under each
Servicing Advance Receivable (i) in existence on the Closing Date that arose under the Servicing Agreements and is owned by Seller
as of the Closing Date, if any (the “Initial Servicing Advance Receivables”), (ii) in existence on any Business
Day on or after the Closing Date that arises under any Servicing Agreement prior to the earlier of the related Servicing Transfer
Date or date of Seller’s termination as servicer pursuant to such Servicing Agreement (“Additional Servicing Advance
Receivables”), and (iii) in the case of both Initial Servicing Advance Receivables and Additional Servicing Advance
Receivables, 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 Seller to enforce such Initial Servicing Advance Receivables and Additional Servicing Advance Receivables
(collectively, the “Transferred Receivables Assets”). Until the related Servicing Transfer Date, Seller shall,
automatically and without any further action on its part, sell, assign, transfer and convey to Purchaser, on each Business Day,
each Additional Servicing Advance Receivable not previously transferred to Purchaser and Purchaser shall purchase each such Additional
Servicing Advance Receivable. The parties acknowledge and agree that so long as the Servicing Advance Receivables with respect
to a Servicing Agreement are being sold by Purchaser to the Advance SPEs pursuant to the Servicing Advance Financing Agreements,
the sale of such Servicing Advance Receivables by Seller to Purchaser shall be made pursuant to and in accordance with the provisions
of the Servicing Advance Financing Agreements, and Seller covenants and agrees to comply with the provisions of such Servicing
Advance Financing Agreements with respect to such Servicing Advance Receivables. 

    	-10-

    	 

    
 

3.2             Servicing
Advance Receivables Purchase Price. In consideration of the sale, assignment, transfer and conveyance to Purchaser of the
Servicing Advance Receivables and related Transferred Receivables Assets, on the terms and subject to the conditions
set forth in this Sale Supplement, Purchaser shall, on each related Servicing Advance Payment Date, pay and deliver to
Seller, in immediately available funds, a purchase price equal to the Servicing Advance Receivables Purchase Price for such
Servicing Advance Receivables sold on such date; provided that Seller shall have complied with the terms of Section
3.1 and Section 3.3 with respect to the related Servicing Advance Receivable. Subject to the proviso of the
immediately preceding sentence, to the extent any P&I Advances are required to be made under the terms of the Deferred
Servicing Agreements, as determined by Seller and set forth in the applicable Monthly Remittance Report, Purchaser shall, on
the date the related P&I Advance is required to be made under the related Deferred Servicing Agreement, deposit the
Servicing Advance Receivable Purchase Price for such P&I Advances into either the applicable Custodial Account or other
applicable account held by the related trustee, master servicer, securities administrator, or trust administrator, as the
case may be, in accordance with the requirements of the related Deferred Servicing Agreement (which may be done directly by
Purchaser or though an account established in connection with the Servicing Advance Facility Agreements) in consideration for
such P&I Advance.

3.3             Servicing Advances. Seller covenants and agrees that each Servicer Advance made by Seller under the Servicing Agreements
prior to the related Servicing Transfer Date shall (a) be required to be made pursuant to the terms of the related Deferred Servicing
Agreement and comply with the terms of such Deferred Servicing Agreement and Applicable Law, (b) comply with Seller’s advance
policies and stop advance policies and procedures and not constitute a nonrecoverable Servicer Advance as of the date Seller made
such Servicer Advance and (c) be supported by customary backup documentation. Seller agrees to provide prompt notice to Purchaser
of any Servicer Advance made by Seller under the Deferred Servicing Agreements and deliver to Purchaser such customary backup
documentation relating to any Servicer Advance promptly upon request by Purchaser. In the event Seller cannot provide, or cause
to be provided to Purchaser any customary backup documentation, and Purchaser is unable to be reimbursed for such Servicer Advance
solely as a result of such failure, Seller shall reimburse Purchaser for the amount of such unreimbursed Servicer Advances within
five (5) Business Days of Purchaser’s written request, to the extent Purchaser paid Seller for such amounts.

3.4             Reimbursement of Servicing Advances. Seller shall, to the extent permitted under any Deferred Servicing Agreement cause
the reimbursement of any Servicer Advances under the Deferred Servicing Agreements to be made directly into Purchaser’s
account in accordance with Purchaser’s written directions. In any case, Seller shall within one (1) Business Day of the
receipt thereof, remit to Purchaser any amounts that are received by Seller under any Deferred Servicing Agreement after the Closing
Date as reimbursement of any Servicer Advance. Any such amounts shall be remitted in accordance with Purchaser’s written
directions.

ARTICLE
4

REPRESENTATIONS AND WARRANTIES OF SELLER

Seller
makes the following representations and warranties to Purchaser as of (a) each of the Closing Date and each Sale Date or (b) as
of such other dates specified below:

 

    	-11-

    	 

    
 

4.1             General Representations. Each of the representations and warranties set forth in Article 3 of the Agreement are true
and correct.

4.2             Title to Transferred Assets. From and including the Closing Date until such Servicing Rights Assets are transferred to
Purchaser under Section 2.2, Seller shall be the sole holder and owner of the Servicing Rights Assets and shall have good
and marketable title to the Servicing Rights Assets, free and clear of any Liens. Upon the sale of such Servicing Rights Assets
pursuant to Section 2.2, Seller will transfer to Purchaser good and marketable title to the Servicing Rights Assets free and clear
of any Liens. Seller is the sole holder and owner of the Rights to MSRs and the sale and delivery to Purchaser of the Rights to
MSRs pursuant to the provisions of this Sale Supplement will transfer to Purchaser good and marketable title to the Rights to
MSRs free and clear of any Liens.

4.3             Right to Receive Servicing Fees. Seller is entitled to receive Servicing Fees, Ancillary Income and Prepayment Interest
Excess as servicer under each Servicing Agreement, and the New York Uniform Commercial Code permits the Seller to transfer the
Rights to MSRs to Purchaser under the Agreement and this Sales Supplement without violation of any applicable Servicing Agreement.

4.4             Servicing
Agreements and Underlying Documents. Schedule I hereto contains a list of all Servicing Agreements (other
than the Underlying Documents) related to the Servicing Rights that are subject to this Sale Supplement and Schedule II hereto
contains a list of all Underlying Documents related to such Servicing Agreement, in each case with all amendments and
modifications thereto, or supplements thereto with respect to such Servicing Rights.

4.5             Mortgage Pool Information, Related Matters.

(a)             Seller has delivered to Purchaser one or more summary schedules which set forth information with respect to each Mortgage Pool
relating to the Servicing Rights (the “Summary Schedules”). Seller acknowledges that Purchaser has relied on
such Summary Schedules to determine the Purchase Price it was willing to pay for the Transferred Assets.

(b)             The Summary Schedules, the Mortgage Loan Schedule and the Database are true, accurate and complete in all material respects as
of the related Cut-off Date or such other date specified thereon.

(c)             The Mortgage Loan Schedule indicates, by code reference, which of the Mortgage Loans have been converted into REO Properties as
of the Cut-off Date.

4.6             Enforceability of Servicing Agreements.

(a)             Seller has delivered to Purchaser, on or prior to the related Closing Date, true and complete copies of all Servicing Agreements
listed on Schedule I hereto and all amendment thereto and all Underlying
Documents listed on Schedule II hereto and all amendments thereto. There
are no other written or oral agreements binding upon Seller or Purchaser that modify, supplement or amend any such Servicing Agreement
or Underlying Document.

 

    	-12-

    	 

    
 

(b)             Seller has not received written notice of any pending or threatened cancellation or partial termination of any Servicing Agreement
or Underlying Document or any written notice of any pending or threatened termination of Seller as servicer of any of the Mortgage
Loans.

(c)             On and prior to the related Servicing Transfer Date, each Servicing Agreement and each of the Underlying Documents is or was a
valid and binding obligation of Seller, is or was in full force and effect and enforceable against Seller in accordance with its
terms, except as such enforceability may be affected by bankruptcy, insolvency, fraudulent conveyance, reorganization and other
similar laws relating to or affecting creditors rights generally and general principles of equity (regardless of whether considered
in a proceeding of law or in equity).

4.7             Compliance With Servicing Agreements.

(a)             Seller has serviced the Mortgage Loans subject to the Servicing Agreements and has kept and maintained complete and accurate books
and records in connection therewith, all in accordance with Applicable Requirements, has made all remittances required to be made
by it under each Servicing Agreement and is otherwise in compliance in all material respects with all Servicing Agreements and
the Applicable Requirements.

(b)             (i) No early amortization event, servicer default, servicer termination event, event of default or other default or breach has
occurred under any Servicing Agreement or any Underlying Document (except with respect to the delinquency or loss performance
triggers identified in the Summary Schedules), and (ii) no event has occurred, which with the passage of time or the giving of
notice or both would: (A) constitute a material default or breach by Seller under any Servicing Agreement, Underlying Document
or under any Applicable Requirement; (B) permit termination, modification or amendment of any such Servicing Agreement or Underlying
Document by a third party without the consent of Seller; (C) enable any third party to demand that either Seller or Purchaser
either incur any repurchase obligations pursuant to a Servicing Agreement or an Underlying Document or provide indemnification
for any amount of losses relating to a breach of a loan representation or warranty; (D) impose on Seller or Purchaser sanctions
or penalties in respect of any Servicing Agreement or Underlying Document; or (E) rescind any insurance policy or reduce
insurance benefits in respect of any Servicing Agreement or Underlying Document which would result in a material breach or trigger
a default of any obligation of Seller under any Servicing Agreement or Underlying Document.

(c)            There are no agreements currently in place with any subservicers to perform any of Seller’s duties under the Servicing Agreements.

(d)            Each report and officer’s certification prepared by Seller as servicer pursuant to a Servicing Agreement is true and correct
in all material respects. Seller has previously made available to Purchaser a correct and complete description of the policies
and procedures used by Seller in connection with servicing the Mortgage Loans related to the Servicing Agreements.

(e)             In the preceding twelve (12) month period, no Governmental Authority, Investor, Insurer, rating agency, trustee, master servicer
or any other party to a Servicing Agreement has provided written notice to Seller claiming or stating that Seller has violated,
breached or not complied
with any Applicable Requirements in connection with the servicing of the related Mortgage Loans which has not been resolved by
Seller.

 

    	-13-

    	 

    
 

(f)             All Custodial Accounts and Escrow Accounts have been established and continuously maintained in accordance with Applicable Requirements.
All Custodial Account and Escrow Account balances required by the Mortgage Loans and paid for the account of the Mortgagors under
the related Mortgage Loans have been credited properly to the appropriate account and have been retained in and disbursed from
the appropriate account in accordance with Applicable Requirements.

4.8             No Recourse. None of the Servicing Agreements or other contracts to be assumed by Purchaser hereunder provide for Recourse
to Seller.

4.9             The Mortgage Loans.

(a)             Each of the Mortgage Loans and REO Properties related to each Servicing Agreement has been serviced in accordance with Applicable
Requirements in all material respects.

(b)             Except as disclosed on the Mortgage Loan Schedule, in the related Database and in the related Loan File and consistent with the
requirements of the related Servicing Agreement, Seller has not waived any default, breach, violation or event of acceleration
under any Mortgage Loan, except to the extent that any such waiver is permitted under the related Servicing Agreement and reflected
in the Mortgage Loan Schedule, the related Database and the related Loan File and the disclosure relating to such waiver is reflected
consistently in all material respects among the related Mortgage Loan Schedule, the related Database and the related Loan File.
The Mortgage related to each Mortgage Loan related to the Servicing Agreements has not been satisfied, cancelled or subordinated,
in whole or in part, and except as permitted under the related Servicing Agreement, the related Mortgaged Property has not been
released from the lien of the Mortgage, in whole or in part, nor has any instrument been executed that would effect any such release,
cancellation, or subordination.

(c)             There is in force with respect to each Mortgaged Property and REO Property related to a Servicing Agreement a hazard insurance
policy (including any policy in effect under a forced place insurance policy) and, if applicable, a flood insurance policy that
provides, at a minimum, for the coverage as required by the applicable Servicing Agreement. Seller and any prior servicer or subservicer
under the Servicing Agreements has taken all necessary steps to maintain any hazard insurance policy, flood insurance policy,
primary mortgage insurance policy, and title insurance policy as required under the Servicing Agreements.

(d)             Seller is not aware of any repurchase requests or demands being made or threatened to be made with respect to any Mortgage Loans
related to the Servicing Agreements in excess of $10 million with respect to any Servicing Agreement.

(e)             Except as disclosed in the related Database, Seller has not received notice from any Mortgagor with respect to the Mortgage Loans
related to the Servicing Agreements of a request for relief pursuant to or invoking any of the provisions of the Servicemembers
Civil Relief Act or any similar law which would have the effect of suspending or reducing the Mortgagor’s payment obligations
under a Mortgage Loan or which would prevent such loan from going into foreclosure.

 

    	-14-

    	 

    
 

(f)             With respect to each adjustable rate Mortgage Loan, Seller and each prior servicer has complied in all material respects with
all Applicable Requirements regarding interest rate and payment adjustments.

(g)             Each first lien Mortgage Loan is covered by a valid and freely assignable, life of loan, tax service contract, and flood tracking
services contract, in full force and effect. All flood zone determination information provided to Purchaser is true and correct
in all material respects.

(h)             There are no actions, claims, litigation or governmental investigations pending or, to the knowledge of Seller, threatened, against
Seller, or with respect to any Servicing Agreement or any Mortgage Loan, which relate to or affect Seller’s rights with
respect to the Servicing Rights or Seller’s right to sell, assign and transfer the Servicing Rights or the Rights to MSRs
or to receive any Servicing Fee, which could reasonably be expected to have a Material Adverse Effect individually or in the aggregate.

(i)             Payments received by Seller with respect to any Mortgage Loans related to the Servicing Agreements have been remitted and properly
accounted for as required by Applicable Requirements in all material respects. All funds received by Seller in connection with
the satisfaction of Mortgage Loans, including foreclosure proceeds and insurance proceeds from hazard losses, have been deposited
in the appropriate Custodial Account or Escrow Account and all such funds have been applied to pay accrued interest on the Mortgage
Loans, to reduce the principal balance of the Mortgage Loans in question, or for reimbursement of repairs to the Mortgaged Property
or as otherwise required by Applicable Requirements or are on deposit in the appropriate Custodial Account or Escrow Account.

(j)             Seller is not aware of any Person that has issued any notice or written intention to exercise the optional call or optional redemption
provisions under any of the related Servicing Agreements.

(k)             No fraudulent action has taken place on the part of Seller in connection with its servicing of any Mortgage Loan related to the
Servicing Agreement.

(l)             Except with respect to partial releases, actions required by a divorce decree, assumptions, or as otherwise permitted under Applicable
Requirements and documented in the Loan File and the Database, (i) the terms of each Mortgage Note and Mortgage have not been
modified by Seller or any prior servicer, (ii) no party thereto has been released in whole or in part by Seller or any prior servicer
and (iii) no part of the Mortgaged Property has been released by Seller or any prior servicer.

4.10           Servicing Advance Receivables.

(a)             From and including the Closing Date until such Servicing Advance Receivable is transferred to Purchaser under Section 3.1,
Seller is the sole holder and owner of each Servicing Advance Receivable and has good and marketable title to such Servicing Advance
Receivable. Seller has not previously assigned, transferred or encumbered the Servicing Advance Receivables other than pursuant
to the Agreement, this Sale Supplement and the Servicing Advance Financing Agreements. The sale and delivery to Purchaser of the
Servicing Advance Receivables pursuant to the provisions of this Sale Supplement will transfer to Purchaser good and marketable
title to the Servicing Advance Receivables free and clear of any Liens (other than the Liens created pursuant to the Servicing
Advance Financing Agreements).

  

    	-15-

    	 

    
 

(b)             Each Servicing Advance Receivable transferred to Purchaser under Section 3.1, is at the time of such transfer a valid and
existing account owing to Seller and is carried on the books of Seller at or less than the amount actually advanced or accrued
net of any charge-offs or other adjustments by Seller. Seller has not received any notice from a master servicer, securities administrator,
trustee, Insurer, Investor or any other Person, which disputes or denies a claim by Seller for reimbursement in connection with
any such Servicing Advance Receivable. Each Servicer Advance made by Seller (and each trailing invoice received by Purchaser on
or after the related Servicing Transfer Date for services rendered prior to such Servicing Transfer Date) that is reimbursed or
paid by Purchaser to Seller or a third party service provider is fully reimbursable to Purchaser as a Servicer Advance under the
terms of the related Servicing Agreement.

(c)             Each Servicer Advance made by Seller was made in accordance with Applicable Requirements and Seller’s advance policies and
stop advance policies and procedures in all material respects, and is not subject to any set-off or claim that could be asserted
against Purchaser. No Servicer Advance made by Seller or any prior servicer under a Servicing Agreement and not reimbursed or
paid to Seller prior to the related Sale Date is a Non-Qualified Servicer Advance. Seller has not received any written notice
from any Person in which such Person disputes or denies a claim by Seller for reimbursement in connection with a specifically
identified Servicer Advance.

4.11          Servicing Agreement Consents and Other Third Party Approvals. None of the execution, delivery and performance of the Agreement
and this Sale Supplement by Seller, the transfers of Servicing Rights under Section 2.2, the transfer of Rights to MSRs
under Section 2.1, the transfers of Servicing Advance Receivables under Section 3.1 and the other transactions contemplated
hereby require any consent, approval, waiver, authorization, penalties, notice or filing to be obtained by Seller or Purchaser
from, or to be given by Seller or Purchaser to, or made by Seller or Purchaser with, any Person, except for, with respect to the
Servicing Rights Assets, the Third Party Consents.

4.12          Servicing Advance Financing Agreements.

(a)            All of the Servicing Agreements are “Facility Eligible Servicing Agreements,” and each Servicer Advance to be owned
by an Advance SPE is a “Facility Eligible Receivable,” each as defined under the Servicing Advance Financing Agreements.

(b)            All of the representations and warranties of Seller in the Servicing Advance Financing Agreements are true and correct, and no
early amortization event, default, event of default or similar event has occurred under the Servicing Advance Financing Agreements.

(c)            Each of Seller and its Affiliates have complied in all material respects with the terms of the existing Servicing Advance Financing
Agreements.

 

    	-16-

    	 

    
 

4.13          Anti-Money Laundering Laws. Seller has complied with all applicable anti-money laundering laws and regulations.

4.14          Servicer Ratings. Seller has a residential primary servicer rating for the servicing of subprime residential mortgage loans
issued by S&P, Fitch or Moody’s at or above “Above Average,” “RPS3” and “SQ2-”,
respectively.

4.15          Eligible
Servicer. Seller meets the eligibility requirements of a servicer and a subservicer under the terms of each Servicing Agreement
and Underlying Document.

4.16          HAMP.
Seller has entered into a Commitment to Purchase Financial Instrument and Servicer Participation Agreement with Fannie Mae, as
financial agent of the United States, which agreement is in full force and effect.

ARTICLE
5

Conditions precedent

5.1            Conditions to the Purchase of the Rights to MSRs. Purchaser’s obligations to purchase the Rights to MSRs pursuant
to Section 2.1 and the Servicing Rights pursuant to Section 2.2 and to pay the Purchase Price (and the Estimated
Purchase Price) pursuant to Section 2.3 and Section 2.6 are subject to the satisfaction or Purchaser’s waiver
of each of the conditions set forth in Section 6.1 and Section 6.3 of the Agreement (except the requirement to deliver
the Third Party Consents necessary to transfer the Servicing Rights pursuant to Section 2.2) with respect to each of the
Servicing Agreements and each of the Servicing Rights, as applicable, on the Closing Date and the satisfaction of each of the
following conditions:

(a)            Seller shall have obtained all consents or approvals required to be obtained to consummate the transfers of the Rights to MSRs
to Purchaser pursuant to Section 2.1;

(b)            The Servicing Advance Facility Agreements shall have been executed and delivered by each of the parties thereto and all of the
conditions precedent to the effectiveness of the Servicing Advance Facility Agreements set forth therein have been satisfied;

(c)            Home Loan Servicing Solutions, Ltd. shall have completed a successful initial public offering and contributed proceeds therefrom
to Purchaser in an amount sufficient to pay the Purchase Price on the Closing Date;

(d)            The
Subservicing Agreement and the Subservicing Supplement shall have been executed and delivered by each of the parties thereto and
all of the conditions precedent to the effectiveness of the Subservicing Agreement and the Subservicing Supplement set forth therein
have been satisfied. 

    	-17-

    	 

    
 

ARTICLE
6

SERVICING MATTERS

 

6.1            Seller as Servicer. Except as expressly set forth in this Sale Supplement, Seller shall perform all its the duties and
obligations of under each Servicing Agreement until the related Servicing Transfer Date and shall at all times until the related
Servicing Transfer Date meet any standards and fulfill any requirements applicable to Seller under each Servicing Agreement.

6.2            Servicing. Except as otherwise specifically provided in this Sale Supplement, Seller covenants and agrees to service and
administer each Mortgage Loan related to a Servicing Agreement from and after the Closing Date until the related Servicing Transfer
Date in accordance with Applicable Law, the terms of the related Mortgage Loan Documents and any applicable private mortgage insurance
or pool insurance, the standards, requirements, guidelines, procedures, restrictions and provisions of the related Servicing Agreement
and Underlying Documents governing the duties of Seller thereunder, this Sale Supplement and any other Applicable Requirements.
Without limiting the foregoing, Seller covenants and agrees that it shall perform its obligations pursuant to this Sale Supplement
in a manner that will not cause the termination of Seller as servicer under any Deferred Servicing Agreement, including any termination
based on Seller’s management of delinquency or loss performance with respect to Mortgage Loans related to such Deferred
Servicing Agreement. The parties acknowledge and agree that any termination of Seller as servicer with respect to a Servicing
Agreement pursuant to a delinquency or loss performance trigger or for any other reason, other than as a result of a failure by
Purchaser to purchase Servicing Advance Receivables pursuant to Section 3.1, shall be deemed to be the result of a breach
by Seller of its obligations under this Sale Supplement and the Agreement. In the event of a conflict between a Servicing Agreement
and this Article 6, the Servicing Agreement shall control.

6.3            Collections
from Obligors and Remittances. Seller shall direct the obligors on the Deferred Mortgage Loans to remit payment on the Deferred
Mortgage Loans to the Clearing Account (as defined in the Servicing Agreement) and shall within one (1) Business Day of receipt
promptly deposit any amounts Seller receives with respect to the Deferred Mortgage Loans in the Clearing Account. Seller shall
promptly remit all amounts received by Seller with respect to the Mortgage Loans to the applicable Custodial Account or Escrow
Account, but no later than the earlier of two (2) Business Days after receipt thereof or the date required pursuant to the applicable
Deferred Servicing Agreement; provided, that Seller shall, subject to the terms of the related Servicing Agreement, remit
any such amounts that constitute recovery of a Servicer Advance to the applicable account, if any, specified by Purchaser pursuant
to Section 3.4 within one (1) Business Day of receipt thereof; provided, further, that Seller shall, subject to
the terms of the related Servicing Agreement, remit any such amounts that constitute Servicing Fee to the applicable account,
if any, specified by Purchaser pursuant to Section 2.5 within one (1) Business Day of receipt thereof. Seller shall also
making any compensating interest payments or prepayment interest shortfall payments required to be made by Seller with respect
to the Mortgage Loans under the Deferred Servicing Agreements, and shall remit any such payments to the applicable Custodial Account
no less than one (1) Business Day prior to the applicable remittance date for such Servicing Agreement. 

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6.4            Servicing
Practices. Seller shall not make any material change to its servicing practices with respect to the Deferred Mortgage Loans
after the date hereof, including, any material changes to its cash collection and sweep processes or its advance policies or stop
advance policies, without Purchaser’s prior written consent, which consent shall not be unreasonably withheld or delayed.
Purchaser shall have the right to direct Seller to implement reasonable changes to Seller’s servicing practices applicable
with respect to all or a portion of the Mortgage Loans, including any changes necessary to ensure compliance with any Applicable
Laws or governmental programs or directions received pursuant to the applicable Servicing Agreements.

 

6.5            Servicing Reports. Seller shall simultaneously deliver a copy of any reports delivered by Seller to any Person pursuant
to the Deferred Servicing Agreements to Purchaser.

6.6            Escrow Accounts. Subject to the terms of the related Deferred Servicing Agreement, Seller shall be entitled to withdraw
funds from any Escrow Account related to a Deferred Servicing Agreement only for the purposes permitted in the applicable Servicing
Agreement.

6.7            Notices and Financial Information. Until the last Servicing Transfer Date, Seller will furnish, or will cause to be furnished,
to Purchaser:

(a)            within two (2) Business Days after the occurrence of a breach by Seller of the Agreement or this Sale Supplement or any Termination
Event or other event that would give Purchaser the right to direct Seller to transfer the Servicing Rights with respect to any
Deferred Servicing Agreement, notice of such event;

(b)            any information required to be delivered by Seller pursuant to Section 5.10 of the Subservicing Agreement, which information
shall be delivered at such times as specified in Section 5.10 of the Subservicing Agreement, provided that any reference
to a “Subject Servicing Agreement” in Section 5.10 of the Subservicing Agreement shall be deemed to be a reference
to a “Deferred Servicing Agreement,” for the purposes of this Section 6.7; and

(c)            such other information regarding the condition or operations, financial or otherwise, of Seller or any of its subsidiaries as
Purchaser may from time to time reasonably request.

6.8            Defaults under Deferred Servicing Agreements. Seller covenants and agrees to use its reasonable best efforts to cure any
breach, default or notice of default with respect to its obligations under any Deferred Servicing Agreement within the timeframe
for cure set forth in such Deferred Servicing Agreement.

6.9            Continuity
of Business. (a) Seller will maintain a disaster recovery plan in support of the services it performs pursuant to this
Sale Supplement and each Deferred Servicing Agreement. Seller’s disaster recovery plan shall include, at a
minimum, procedures for back-up/restoration of operating and loan administration computer systems; procedures and third-party
agreements for replacement equipment (e.g. computer equipment), and procedures and third-party agreements for off-site
production facilities. Seller will provide Purchaser information regarding its disaster recovery plan upon Purchaser’s
reasonable request. Seller agrees to annually test its disaster recovery plan to ensure compliance with this Section
6.9. If such test results identify a material failure, Seller shall advise Purchaser of the steps Seller will be taking
to remedy such failure and shall notify Purchaser when Seller has remedied such failure and retested. Seller will notify Purchaser anytime Seller’s disaster recovery plan
is activated. In the event of an activation of the disaster recovery plan, Seller shall use best efforts to provide redundancy
capabilities for a majority of the critical systems within 48 hours in at least one of Seller’s other servicing facilities
unaffected by the disaster to ensure servicing of the Mortgage Loans will be re-established within such 48 hours.

 

    	-19-

    	 

    

6.10           Optional Termination or Clean Up Calls. Seller may exercise its rights under any optional termination or clean up call
provision pursuant to a Deferred Servicing Agreement prior to the related Servicing Transfer Date; provided that simultaneously
or prior to such exercise, (i) Seller or its designee agrees to purchase, and purchases, the Mortgage Loans that are subject to
such Deferred Servicing Agreement at a purchase price that is at least equal to the applicable purchase price pursuant to such
Deferred Servicing Agreement, (ii) all unreimbursed Servicer Advances and other amounts owed to Purchaser with respect to such
Deferred Servicing Agreement under the Sale Supplement or otherwise are paid to Purchaser, (iii) Seller shall have paid to Purchaser
a redemption fee with respect to such Deferred Servicing Agreement equal to the Book Value of the Rights to MSRs related to such
Deferred Servicing Agreement on Purchaser’s financial statements as of the date of such optional termination or clean up
call and (iv) Seller shall provide at least ten (10) Business Days prior written notice to Purchaser of such exercise.

6.11           Amendments to Deferred Servicing Agreements; Transfer of Servicing Rights. Seller hereby covenants and agrees not to amend
the Servicing Agreements without Purchaser’s prior written consent. Seller shall not sell or otherwise voluntarily transfer
servicing under any of the Deferred Servicing Agreement during the Consent Period except as expressly provided in this Sale Supplement
or take any other actions inconsistent with Purchaser’s right to acquire ownership of Servicing Rights with respect to a
Servicing Agreement upon receipt of the required Third Party Consents.

6.12           Assumption
of Servicing Duties; Transfer of Rights to MSRs and Servicing Rights. Purchaser may from time to time designate any of Seller’s
servicing obligations under a Deferred Servicing Agreement and assume the performance of such obligations so long as such assumption
is permitted pursuant to such Deferred Servicing Agreement and does not limit Seller’s right to receive the Servicing Fees
pursuant to such Deferred Servicing Agreement. Notwithstanding anything in the Agreement or this Sale Supplement to the contrary,
Purchaser may transfer the Rights to MSRs to any third party and/or may direct Seller to transfer the Servicing Rights to a third
party that can obtain the required Third Party Consents, subject to the right of the Seller to receive the Seller Monthly Servicing
Fee, the Performance Fee, the Ancillary Income and, if applicable, the Prepayment Interest Excess owed to Seller with respect
to such Deferred Servicing Agreement pursuant to Article 7. For the avoidance of doubt, Purchaser shall be entitled to
receive all proceeds of such transfer.

6.13           Termination Event. In the case that any Termination Event occurs with respect to any Servicing Agreement during the Consent
Period, Seller shall, upon Purchaser’s written direction to such effect, use commercially reasonable efforts to transfer
the Servicing Rights relating to any affected Servicing Agreement to a third party servicer identified by Purchaser with respect
to which all required Third Party Consents with respect to such Servicing Agreement can be obtained. Purchaser shall be entitled
to receive all proceeds of such transfer.

 

    	-20-

    	 

    
 

6.14            Servicing Transfer. Seller and Purchaser shall, prior to the Servicing Transfer Date with respect to each Servicing Agreement,
work in good faith to determine and agree upon applicable servicing transfer procedures with respect to such Servicing Agreement.

6.15            Incorporation
of Provisions from Subservicing Agreement. The provisions of each of Sections 5.3, 5.4, 5.5, 5.6,
5.7, 5.8 (excluding the first sentence thereof), 5.17 and 5.18, and Exhibit A of the Subservicing
Agreement are hereby incorporated into this Sale Supplement by reference, mutatis mutandis, as if its provisions were fully
set forth herein; provided that any reference therein to the defined terms “Ocwen,” “Servicer,”
“Mortgage Loan,” “Subject Servicing Agreement” and “Agreement,” shall be deemed for purposes
of this Sale Supplement to be references to the terms “Seller,” “Purchaser,” “Deferred Mortgage
Loan,” “Deferred Servicing Agreement” and “Sale Supplement,” respectively and any reference therein
to the phrase “during the term of this Agreement” shall be deemed for purposes of this Sale Supplement to be references
to the phrase “until the last Servicing Transfer Date.”

ARTICLE
7

Seller Servicing fees; costs and expenses

7.1            Seller Monthly Servicing Fee. As consideration for Seller servicing the Mortgage Loans pursuant to the Deferred Servicing
Agreements during the applicable Consent Period but prior to the earlier of the date on which the Servicing Rights are transferred
from Seller with respect to a Deferred Servicing Agreement or Servicing Fee Reset Date, Purchaser shall pay to Seller a monthly
base servicing fee for each calendar month during such period during which Seller is servicing Mortgage Loans with respect to
Deferred Servicing Agreements pursuant to this Sale Supplement equal to 12% of the aggregate Servicing Fees actually received
by Purchaser under this Sale Supplement during such calendar month with respect the Deferred Servicing Agreements (the “Seller
Monthly Servicing Fee”).

7.2            Performance Fee. In addition to the Seller Monthly Servicing Fee, Purchaser shall pay to Seller for each calendar month
during which Purchaser is servicing Mortgage Loans with respect to Deferred Servicing Agreements pursuant to this Sale Supplement
a performance fee (“Performance Fee”) equal to the greater of (a) zero and (b) (x) the excess, if any, of the
aggregate of all Servicing Fees actually received by Purchaser with respect to the Deferred Servicing Agreements and pursuant
to the Transferred Servicing Agreements (whether directly pursuant to such Transferred Servicing Agreements or pursuant to this
Sale Supplement) during such calendar month over the sum of (i) the Monthly Servicing Fee for such calendar month and (ii) the
Retained Servicing Fee for such calendar month multiplied by (y) a fraction, (i) the numerator of which is the average unpaid
principal balance of all Mortgage Loans subject to the Deferred Servicing Agreements during such calendar month and (ii) the denominator
of which is equal to the sum of the average unpaid principal balance of all Mortgage Loans subject to the Deferred Servicing Agreements
during such calendar month and the average unpaid principal balance of all Mortgage Loans subject to the Transferred Servicing
Agreements during such calendar month, or such other allocation percentage which is agreed by Seller and Purchaser (the “Allocation
Percentage”). The Performance Fee, if any, for any calendar month will be reduced by
an amount equal to (y) 6.50% per annum (i.e., 0.5417% per month) of the Excess Servicing Advances, if any, for such month multiplied
by the Allocation Percentage. If the Closing Date does not occur on the first day of a calendar month, the Performance Fee for
the period from the Closing Date to the last of the calendar month in which the Closing Date occurs shall be calculated in a pro
rata manner based on the number of days in such period. Notwithstanding any provision in this Sale Supplement to the contrary,
in the event Purchaser has failed to pay Seller any Seller Monthly Servicing Fee or Performance Fees that are past due after ten
(10) Business Days of Purchaser receiving notice of such failure, Seller shall not be required to continue to act as subservicer
until such time as Purchaser has fully paid such past due Seller Monthly Servicing Fee or Performance Fee; provided that
Purchaser shall not have notified Seller that it disputes the occurrence or amount of such past due Seller Monthly Servicing Fee
or Performance Fee.

 

    	-21-

    	 

    
 

7.3            Costs and Expenses. Except as otherwise expressly provided in the Agreement or this Sale Supplement, each party hereto
shall be responsible for its own costs and expenses incurred in connection with the negotiation and execution of the Agreement,
this Sale Supplement and all documents relating thereto. Seller shall be required to pay all expenses incurred by it in connection
with its obligations hereunder to the extent such expenses do not constitute Servicer Advances and shall not be entitled to reimbursement
therefor except as specifically provided for herein or in the applicable Deferred Servicing Agreement. Seller shall reimburse
Purchaser for any reasonable out-of-pocket costs, including legal fees, incurred by Purchaser in connection with obtaining any
required Third Party Consents; provided, however, that Purchaser shall not incur such costs without the prior written
approval of Seller. Purchaser shall pay the conversion fee payable in connection with the amendment and restatement of the Servicer
Advance Financing Agreements.

7.4            Ancillary Income. Seller shall be entitled to retain as additional compensation any Ancillary Income and any Prepayment
Interest Excess received by Seller with respect to the Deferred Mortgage Loans, to the extent such Ancillary Income or Prepayment
Interest Excess is permitted to be retained by Seller pursuant to the related Deferred Servicing Agreement.

7.5            Calculation
and Payment. No later than the second Business Day following the receipt by Purchaser of the Monthly Servicing Oversight
Report for a calendar month, Purchaser will remit to Seller in immediately available funds the Seller Monthly Servicing Fee
and Performance Fees payable by Purchaser to Seller for the related calendar month, along with a report showing in
reasonable detail the calculation of such Seller Monthly Servicing Fees and Performance Fees.

7.6            No Offset. Neither party shall have any right to offset against any amount payable hereunder or other agreement to the
other party, or otherwise reduce any amount payable hereunder as a result of, any amount owing by the other party or any of its
Affiliates to such party or any of its Affiliates.

7.7            Servicing Fee Reset Date. The servicing fees payable to Seller after the Servicing Fee Reset Date shall be subject to negotiation
between Seller and Purchaser. If Seller and Purchaser are unable to agree to such servicing fee prior to the Servicing Fee Reset
Date, Seller shall, upon Purchaser’s written direction to such effect, transfer the Servicing Rights relating to all of
the Deferred Servicing Agreements to a third party servicer identified by Purchaser with respect to which all required Third Party
Consents with respect to the Deferred Servicing Agreements can be obtained. Purchaser shall be entitled to receive all proceeds
related to such transfer.

 

    	-22-

    	 

    
 

ARTICLE
8

Indemnification

8.1            Seller Indemnification of Purchaser. Seller agrees to indemnify and hold harmless Purchaser and each officer, director,
agent, employee or Affiliate of Purchaser (each, a “Seller Indemnified Party”) from and against any and all
claims, losses, damages, liabilities, judgments, penalties, fines, forfeitures, legal fees and expenses, and any and all related
costs and/or expenses of litigation, administrative and/or regulatory agency proceedings, and any other costs, fees and expenses
(each, a “Liability”) suffered or incurred by Purchaser or any such other Person (whether or not resulting
from a third party claim) arising directly or indirectly out of or resulting from (a) any event relating to Transferred Assets
occurring prior to the related Servicing Transfer Date, (b) a breach of any of Seller’s representations and warranties contained
in the Agreement, this Sale Supplement or any other Related Agreement or Seller’s failure to observe and perform any of
Seller’s duties, obligations, covenants or agreements contained in the Agreement, this Sale Supplement or any other Related
Agreement, (c) acts or omissions of Seller, any other servicer of any Mortgage Loans, or any subservicer, contractor or agent
engaged by Seller or any other servicer, in each case prior to the related Servicing Transfer Date, relating to the Transferred
Assets, including any failure by Seller, any other servicer or any subservicer, contractor or agent engaged by Seller or any other
servicer prior to the related Servicing Transfer Date to comply with the Applicable Requirements, (d) the Excluded Liabilities
or (e) any acts or omissions by Seller or its employees or agents in performance of its duties or obligations pursuant to this
Sale Supplement.

8.2            Purchaser
Indemnification of Seller. Purchaser agrees to indemnify and hold harmless Seller and each officer, director, agent, employee
or Affiliate of Seller (each, a “Purchaser Indemnified Party”) from and against any and all Liability suffered
or incurred by Seller or any such other Person arising out of or resulting from (a) a breach of any of Purchaser’s
representations and warranties or covenants contained in the Agreement, the Sale Supplement or any other Related Agreement or
(b) acts or omissions of Purchaser or any subservicer, contractor or agent (other than Seller or any of Seller’s Affiliates)
engaged by Purchaser, in each case after the related Servicing Transfer Date, relating to the Transferred Assets.

 

    	-23-

    	 

    
 

8.3            Indemnification Procedures.

(a)            As promptly as is reasonably practicable after becoming aware of a claim for indemnification under the Agreement or this Sale
Supplement not involving a Third-Party Claim, but in any event no later than fifteen (15) Business Days after first becoming aware
of such claim, the Indemnified Person shall give notice to the Indemnifying Person of such claim, which notice shall specify the
facts alleged to constitute the basis for such claim and the amount that the Indemnified Person seeks hereunder from the Indemnifying
Person; provided, however, that the failure of the Indemnified Person to give such notice shall not relieve the
Indemnifying Person of its obligations under this Section 8.3 except to the extent (if any) that the Indemnifying Person
shall have been prejudiced thereby.

(b)            The Indemnified Person shall give notice as promptly as is reasonably practicable, but in any event no later than ten (10) Business
Days after receiving notice thereof, to the Indemnifying Person of the assertion of any claim, or the commencement of any action,
suit, claim or proceeding, by any unaffiliated third Person (a “Third-Party Claim”) in respect of which indemnity
may be sought under the Agreement or this Sale Supplement (which notice shall specify in reasonable detail the nature and amount
of such claim); provided, however, that the failure of the Indemnified Person to give such notice shall not relieve
the Indemnifying Person of its obligations under this Section 8.3 except to the extent (if any) that the Indemnifying Person
shall have been prejudiced thereby. The Indemnifying Person may, at its own expense, (i) participate in the defense of any such
Third-Party Claim, and (ii) upon notice to the Indemnified Person, at any time during the course of any such Third-Party Claim,
assume the defense thereof with counsel of its own choice and, in the event of such assumption, shall have the exclusive right,
subject to clause (i) in the proviso in Section 8.3(c), to settle or compromise such Third-Party Claim. If the Indemnifying
Person assumes such defense, the Indemnified Person shall have the right (but not the duty) to participate in the defense thereof
and to employ counsel, at its own expense, separate from the counsel employed by the Indemnifying Person. Whether or not the Indemnifying
Person chooses to defend or prosecute any such Third-Party Claim, all of the parties hereto shall cooperate in the defense or
prosecution thereof.

(c)            Any settlement or compromise made or caused to be made by the Indemnified Person (unless the Indemnifying Person has the exclusive
right to settle or compromise under clause (ii) of Section 8.3(b) or the Indemnifying Person, as the case may be),
of any such Third-Party Claim shall also be binding upon the Indemnifying Person or the Indemnified Person, as the case may be,
in the same manner as if a final judgment had been entered by a court of competent jurisdiction in the amount of such settlement
or compromise; provided, however, that (i) no obligation, restriction, loss or admission of guilt or wrongdoing
shall be imposed on the Indemnified Person as a result of such settlement or compromise without its prior written consent and
(ii) the Indemnified Person will not compromise or settle any Third Party Claim without the prior written consent of the Indemnifying
Person.

(d)            Except as specifically provided for in the Agreement or this Sale Supplement, no claim may be made by an Indemnified Person for
any special, indirect, punitive or consequential damages (“Special Damages”) in respect of any breach or wrongful
conduct (whether the claim therefor is based on contract, tort or duty imposed by law) in connection with, arising out of, or
in any way related to the transactions contemplated, or relationship established, by this Agreement or any Sale Supplement, or
any act, omission or event occurring in connection herewith or therewith, and to the fullest extent permitted by law, each of
Seller and Purchaser hereby waives, releases and agrees not to sue upon any such claim for Special Damages, whether or not accrued
or whether or not known or suspected to exist in its favor.

 

    	-24-

    	 

    
  

8.4           Tax Treatment. (a) Seller and Purchaser agree that all payments made
by any of them to or for the benefit of the other under this Article 8, under other indemnity provisions of the Agreement
or this Sale Supplement and for any misrepresentations or breaches of warranties or covenants, shall be treated as adjustments
to the Purchaser Price for tax purposes and that such treatment shall govern for purposes hereof except to the extent that the
Applicable Laws of a particular jurisdiction provide otherwise.

(b)            Seller,
Purchaser and each of their respective Affiliates agree that entering into this Sale Supplement shall be treated for all tax purposes
as a sale of the Servicing Rights Assets and the Purchaser shall be treated as the beneficial owner of the Servicing Rights Assets
for tax purposes as a result of entering into this Sale Supplement. The parties covenant and agree to take no position for Tax
purposes contrary to the foregoing tax treatment, and to prevent any Affiliate from taking such a contrary position.

(c)            All payments made pursuant to
this Agreement shall be made free and clear and without deductions of any kind for taxes.

8.5            Survival. The parties’ obligations under this Article 8 shall survive any termination of the Agreement
and/or this Sale Supplement.

8.6            Additional
Indemnification. (a) Without limiting Seller’s obligations under Article 8 of this Sale Supplement, it is
agreed by the parties that if Seller is terminated as servicer under any Deferred Servicing Agreement as a result of any
action described in clauses (a) through (e) of Section 8.1 above, Seller shall also pay to Purchaser, as
reasonable and just compensation for such termination, an amount equal to the product of (i) the Purchase Price for such
Deferred Servicing Agreement and (ii) the Amortization Percentage for the calendar month in which Seller received notice of
such termination, and Purchaser shall accept such sum as liquidated damages, and not as penalty, in the event of such a
termination.

8.7            Specific
Performance. Notwithstanding any other provision of the Agreement or this Sale Supplement, (i) it is understood and agreed that
the remedy of indemnity payments pursuant to this Article 8 and other remedies at law would be inadequate in the case of
any actual or threatened breach of the Agreement or this Sale Supplement by Seller and (ii) Purchaser shall be entitled, without
limiting its other remedies and without the necessity of proving actual damages or posting any bond, to equitable relief, including
the remedy of specific performance or injunction, with respect to any breach or threatened breach of such covenants. Such relief
shall be in addition to, and not in lieu of, all other remedies available at law or in equity to such party under the Agreement
and this Sale Supplement.

 

    	-25-

    	 

    
  

ARTICLE
9

 

Grant of Security Interest

 

9.1        Granting Clause.        To secure its performance of its obligations under the Agreement and this Sale Supplement, Seller hereby grants to Purchaser a
security interest in all of its right, title and interest in an to the following, whether now owned or hereafter acquired, and
all monies “securities,” “instruments,” “accounts,” “general intangibles,” “payment
intangibles,” “payment intangibles,” “goods,” “letter of credit rights,” “chattel
paper,” “financial assets,” “investment property,” (each as defined in the applicable UCC) and other
property consisting of, arising from or relating to any of the following:

 

(a)        the Servicing Rights
in respect of all of the Mortgage Loans and REO Properties related to the Deferred Servicing Agreements, in each case together
with all related security, collections and payments thereon and proceeds of the conversion, voluntary or involuntary of the foregoing;

 

(b)        the Rights to MSRs
with respect to each Servicing Agreement;

 

(c)        all Servicing Fees,
Ancillary Income and Prepayment Interest Excess received under the Deferred Servicing Agreements and subject to Section 6.10
of this Sale Supplement any rights to exercise any optional termination or clean-up call provisions under the Deferred Servicing
Agreements;

 

(d)        all income from
amounts on deposit in Custodial Accounts and Related Escrow Accounts related to the Deferred Servicing Agreements;

 

(e)        all files and records
in Seller’s possession or control, including the related Database, relating to the assets specified in clauses (a) through
(d);

 

(f)        all causes of action,
lawsuits, judgments, claims, refunds, choses in action, rights of recovery, rights of set-off, rights of recoupment, demands and
any other rights or claims of any nature, whether arising by way of counterclaim or otherwise, available to or being pursued by
Seller to the extent related exclusively to any of the foregoing and/or the Assumed Liabilities; and

 

(g)        any proceeds of
any of the foregoing (collectively, the “Collateral”).

 

This Sale Supplement shall constitute a security
agreement under applicable law. Seller agrees that from time to time it shall promptly execute and deliver all additional instruments
and documents and take all additional action that Purchaser may reasonably request in order to perfect the interests of Purchaser
in, to and under, or to protect, the Collateral or to enable Purchaser to exercise or enforce any of its rights or remedies hereunder.
To the fullest extent permitted by applicable law, Seller hereby authorizes Purchaser to file financing statements and amendments
thereto in connection with the grant of a security interest pursuant to this Section 9.1. Seller covenants and agrees to
take all necessary action to prevent the creation or imposition of any Lien upon any of the Collateral, and to maintain the Collateral
free and clear of all Liens, other than the Lien securing the obligations of Seller arising under this Sale Supplement.

 

    	-26-

    	 

    
 

ARTICLE
10

 

Miscellaneous Provisions

 

10.1        Further Assurances.        Without limiting Section 5.7 of the Agreement, each party hereto shall execute and deliver in a reasonable timeframe such
reasonable and appropriate additional documents, instruments or agreements and take such reasonable actions as may be necessary
or appropriate to effectuate the purposes of this Sale Supplement at the request of the other party. Without limiting the foregoing,
the Seller agrees that it will promptly at Purchaser’s request execute and deliver an one or more assignment and assumption
agreements, in form mutually agreed to by the parties, one or more equity interest assignments, in form mutually agreed to by the
parties, or such other documents, instruments or agreements as Purchaser may reasonably request to evidence the transfers of Rights
to MSRs pursuant to Section 2.1, Servicing Rights pursuant to Section 2.2 and Transferred Receivables Assets pursuant
to Section 3.1.

 

10.2        Compliance with
Applicable Laws; Licenses.        Seller will comply with all Applicable Laws in connection with the performance of its obligations
under the Agreement and this Sale Supplement. Seller shall maintain all necessary licenses and approvals in each jurisdiction where
the failure to do so would materially and adversely affect the ability of Seller to perform its obligations under the Agreement
and this Sale Supplement.

 

10.3        Merger, Consolidation,
Etc..        Seller will keep in full effect its existence, rights and franchises as a limited liability company, and will obtain
and preserve its qualification to do business as a foreign organization in each jurisdiction in which such qualification is or
shall be necessary to protect the validity and enforceability of the Agreement, this Sale Supplement, each Deferred Servicing Agreement
or any of the Deferred Mortgage Loans, or to perform its duties under the Agreement or this Sale Supplement. Seller may be merged
or consolidated with or into any Person, or transfer all or substantially all of its assets to any Person, in which case any Person
resulting from any merger or consolidation to which Seller shall be a party or acquiring all or substantially all of the assets
of Seller, or any Person succeeding to the business of Seller shall be the successor of Seller hereunder and under the Agreement,
without the execution or filing of any paper or any further act on the part of any of the parties hereto; provided, however, that
the successor or surviving Person shall be an institution whose deposits are insured by FDIC or a company whose business includes
the servicing of mortgage loans and shall have a tangible net worth not less than $25,000,000.

 

10.4        Annual
Officer’s Certificate.        Not later than March 15th of each calendar year commencing in 2013, Seller shall
deliver to Purchaser an Officer’s Certificate stating, as to each signatory thereof, that (i) a review of the
activities of Seller during the preceding year and of performance under the Agreement and this Sale Supplement has been made
under such officers’ supervision and (ii) to the best of such officer’s knowledge, based on such review, Seller
has fulfilled all of its obligations under the Agreement and this Sale Supplement in all material respects throughout such
year, or, if there has been a default in the fulfillment of any such obligation in any material respect, specifying each such
default known to such officer and the nature and status thereof.

 

    	-27-

    	 

    
 

10.5        Accounting Treatment.        Notwithstanding Section 8.14 of the Agreement, the parties acknowledge that until such time as the Third Party Consents
with respect to a Servicing Agreement are obtained, the parties shall treat the transaction hereunder with respect to such Servicing
Agreement as a financing for accounting purposes.

 

10.6        Incorporation.        The provisions of Article 8 of the Agreement are hereby incorporated into this Sale Supplement by reference, mutatis
mutandis, as if its provisions were fully set forth herein.

 

10.7        Third Party
Beneficiaries.        Seller and Purchaser each acknowledges and agrees that the indenture trustee, on behalf of the holders of related
notes, with respect to any Servicing Advance Financing Agreements pursuant to which Purchaser has transferred Servicer Advances
made pursuant to a Deferred Servicing Agreement is an express third party beneficiary of this Sale Supplement and the Agreement
solely with respect to the Deferred Servicing Agreements related to such Servicing Advance Financing Agreement.

 

[Signature Page Follows]

 

    	-28-

    	 

    

 

IN WITNESS WHEREOF, the
parties hereto have caused this Sale Supplement to be executed and delivered by its respective officer thereunto duly authorized
as of the date above written.

 

		OCWEN LOAN SERVICING, LLC
	 	 	 
	 	By:	/s/ John Britti
	 	 	Name:  John Britti
	 	 	
Title:    Authorized Signatory
	 	 	 
	 	HLSS HOLDINGS, LLC
	 	 	 
	 	By: 	Home Loan Servicing Solutions,
Ltd., its sole member 
	 	 	 
	 	By:	/s/ James Lauter
	 	 	Name:  James Lauter
	 	 	Title:    CFO 

  

    	 

    	 

    

 

EXHIBIT
A

 

Form of Monthly Remittance Report

 

	Ocwen Loan Servicing, LLC	xxx
	Deal Name	 
	Remittance Summary	[Month] [Year]
	 	 
	Particulars	Amount ($)
	Scheduled Principal Payments	0.00
	Curtailments	0.00
	Interest on curtailment	0.00
	Pool to Security	0.00
	Payoff Principal	0.00
	Neg Amt Prin	0.00
	Deferred Principal Paid	0.00
	 	 
	Total Principal remitted	0.00
	 	 
	Gross Scheduled Interest	0.00
	Less: Service fee amount	0.00
	Less: LPMI Premium	0.00
	Add: INT on STA Reinstatement	0.00
	Add: INT on STA Paid-in-full	0.00
	Less: STA PI Recoveries	0.00
	 	 
	Total Interest remitted	0.00
	 	 
	Less: Realized Loss	0.00
	Less: Trailing expenses	0.00
	Add: Trailing income	0.00
	+/- Collection on released loans	0.00
	Interest on curtailment	0.00
	Add: Prepayment penalty	0.00
	+/- Prior period PPP	0.00
	Add: Collection on STA loans	0.00
	Add: Non recoverable Credits	0.00
	Less: Non recoverable advances	0.00
	Less: Non Loan level expense	0.00
	Less: Jr Lien Blanket Policy Fee	0.00
	Less: Pre-approved legal expense	0.00
	+/- -Reconciliation adjustments	0.00
	+ / - Arrearage remittance	 
	Add: Principal Arrearage	0.00
	Add: Interest Arrearage	0.00
	+ / - : Modification Forgiveness of Debt	 
	Principal Forgiveness	0.00
	Interest Forgiveness	0.00
	Expense Forgiveness	0.00
	Scheduling Difference	0.00
	Deffered Principal Loss	0.00
	SAM waived balance loss	0.00
	Investor Incentives	0.00
	Less: Compensating Interest adjustment	0.00
	 	 
	Total Remittance	0.00

  

    	 

    	 

    
 

	Beg Sch Balance	0.00
	Ending Principal Balance	0.00
	Beg Actual Balance	0.00
	Ending Actual Principal Balance	0.00
	Beg Deferred Principal Balance	0.00
	Ending Deferred Principal Balance	0.00
	Beg Loan count	0.00
	Payoffs	0.00
	End Loan count	0.00
	Principal Roll Test	0.00
	Loan Count Test	0.00
	 	 
	Non Supporting Compensating Interest	0.00
	Wire of sub - Investor	0.00
	 	 
	Grand Total for PI Wire	0.00

 

    	 

    	 

    
 

SCHEDULE I

 

SERVICING AGREEMENTS

 

	 	Short Form Deal Name	Subject Servicing Agreement	Investor Number
	1.	CDC IXIS 2003-HE2	Pooling and Servicing Agreement, dated as of May 1, 2003, by and among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, OCWEN FEDERAL BANK FSB, as Servicer, CDC MORTGAGE CAPITAL INC., as Unaffiliated Seller, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee	2262
	2.	GSAMP 2003-HE1	Pooling and Servicing Agreement, dated as of May 1, 2003, by and among GS MORTGAGE SECURITIES CORP., as Depositor, OCWEN FEDERAL BANK FSB, as Servicer, NC CAPITAL CORPORATION, as Responsible Party, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee	2263
	3.	CDC 2003-HE4	Pooling and Servicing Agreement, dated as of November 1, 2003, by and among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, OCWEN FEDERAL BANK FSB, as Servicer, CDC MORTGAGE CAPITAL INC., as Unaffiliated Seller, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee	2315
	4.	ACE 2006 ASAP2	Pooling and Servicing Agreement, dated as of March 1, 2006, among ACE SECURITIES CORP., as Depositor, OCWEN LOAN SERVICING, LLC, as Servicer, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Master Servicer and Securities Administrator and HSBC BANK USA, NATIONAL ASSOCIATION, as Trustee	2525
	5.	SAIL 2005-11	Securitization Servicing Agreement, dated as of December 1, 2005, by and among JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Servicer, LEHMAN BROTHERS HOLDINGS INC., as Seller, and AURORA LOAN SERVICES LLC, as Master Servicer	3691
	6.	SAIL 2005-1	Securitization Servicing Agreement, dated as of January 1, 2005, by and among OCWEN FEDERAL BANK FSB, as Servicer, LEHMAN BROTHERS HOLDINGS INC., as Seller, and AURORA LOAN SERVICES INC., as Master Servicer	2394

 

    	 

    	 

    

 

	7.	BMAT 2006-1	Pooling and Servicing Agreement, dated as of April 1, 2006, by and among BMAT SECURITIES CORPORATION, as Depositor,   ENCORE CREDIT CORP., as Seller, OCWEN LOAN SERVICING, LLC, as Servicer, CITIMORTGAGE, INC., as Master Servicer, OFFICETIGER GLOBAL REAL ESTATE SERVICES INC., as Loan Performance Advisor, DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee, and CITIBANK, N.A., as Securities Administrator	2530
	8.	GSAMP 2006-NC2	Pooling and Servicing Agreement, dated as of June 1, 2006, by and among GS MORTGAGE SECURITIES CORP., as Depositor, OCWEN LOAN SERVICING LLC, as Servicer, NEW CENTURY MORTGAGE CORPORATION, as Servicer, NC CAPITAL CORPORATION, as Responsible Party, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee, and WELLS FARGO BANK, N.A., as Master Servicer and Securities Administrator	2572
	9.	Soundview 2007-1	Pooling and Servicing Agreement, dated as of February 1, 2007, by and among FINANCIAL ASSET SECURITIES CORP., as Depositor, OCWEN LOAN SERVICING, LLC., as Servicer, WELLS FARGO BANK, N.A., as Master Servicer and Trust Administrator, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee	2607
	10.	MABS 2007-WMC1	Pooling and Servicing Agreement, dated as of February 1, 2007, by and among OCWEN LOAN SERVICING, LLC, as Servicer, WELLS FARGO BANK, N.A., as Master Servicer, Trust Administrator and Custodian, and U.S. BANK NATIONAL ASSOCIATION, as Trustee	2608
	11.	NHELI 2007-3	Pooling and Servicing Agreement, dated as of April 1, 2007, by and among NOMURA HOME EQUITY LOAN, INC., as Depositor, NOMURA CREDIT & CAPITAL, INC., as Sponsor,   OCWEN LOAN SERVICING, LLC and EQUITY ONE, INC., as Servicers WELLS FARGO BANK, NATIONAL ASSOCIATION,   as Master Servicer and Securities Administrator and HSBC BANK USA, NATIONAL ASSOCIATION, as Trustee	2620

 

    	 

    	 

    

 

	12.	DB ACE 2007-ASAP2	Pooling and Servicing Agreement, dated as of May 1, 2007, by and among ACE SECURITIES CORP., as Depositor, OCWEN LOAN SERVICING, LLC, as Servicer, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Master Servicer and Securities Administrator, and HSBC BANK USA, NATIONAL ASSOCIATION, as Trustee	2625
	13.	ACE 2007-HE5	Pooling and Servicing Agreement, dated as of June 1, 2007, by and among ACE SECURITIES CORP., as Depositor, OCWEN LOAN SERVICING, LLC, as Servicer, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Master Servicer and Securities Administrator, and HSBC BANK USA, NATIONAL ASSOCIATION, as Trustee	2629
	14.	FIRST FRANKLIN 2004-FF2	Pooling and Servicing Agreement, dated as of April 1, 2004, by and among FINANCIAL ASSET SECURITIES CORP., as Depositor, SAXON MORTGAGE SERVICES, INC., as Servicer, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee	2743
	15.	MSABS 2003-HE3	Pooling and Servicing Agreement, dated as of October 1, 2003, by and among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, CHASE MANHATTAN MORTGAGE CORPORATION, as Servicer, ACCREDITED HOME LENDERS, INC, as Servicer and Responsible Party, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee	3598
	16.	PCHLST 2004-2	Pooling and Servicing Agreement, dated as of August 1, 2004, by and among PEOPLE’S CHOICE HOME LOAN SECURITIES CORP., as Company, WELLS FARGO BANK, N.A., as Master Servicer and Securities Administrator, and HSBC BANK USA, NATIONAL ASSOCIATION, as Trustee	3646
	17.	SAIL 2005-5	Securitization Servicing Agreement, dated as of May 1, 2005, by and among JPMORGAN CHASE BANK, NATIONAL ASSOCIATION as Servicer, LEHMAN BROTHERS HOLDINGS INC., as Seller, and AURORA LOAN SERVICES INC., as Master Servicer	3667 and 2447
	18.	SAIL 2006-BNC2	Securitization Servicing Agreement, dated as of May 1, 2005, by and among JPMORGAN CHASE BANK, NATIONAL ASSOCIATION as Servicer, LEHMAN BROTHERS HOLDINGS INC., as Seller, and AURORA LOAN SERVICES INC., as Master Servicer	3711

 

    	 

    	 

    

 

Schedule
II

 

Underlying Documents

 

None

 

    	 

    	 

    

 

SCHEDULE III

RETAINED SERVICING FEE PERCENTAGE

 

	From Month1	 	To Month	 	Retained Fee
	1	 	3	 	29.5 bps
	4	 	6	 	28.5 bps
	7	 	9	 	26.5 bps
	10	 	12	 	26.0 bps
	13	 	15	 	24.5 bps
	16	 	18	 	24.0 bps
	19	 	21	 	22.5 bps
	22	 	24	 	22.0 bps
	25	 	72	 	22.0 bps

 

1
Starting with August, 2012. 

 

    	 

    	 

    

 

SCHEDULE IV

 

TARGET RATIO SCHEDULE

 

	Month1	 	Target Advance Ratio
	 	 	 
	1	 	3.17%
	2	 	3.09%
	3	 	3.01%
	4	 	2.94%
	5	 	2.86%
	6	 	2.79%
	7	 	2.72%
	8	 	2.65%
	9	 	2.59%
	10	 	2.52%
	11	 	2.46%
	12	 	2.40%
	13	 	2.34%
	14	 	2.28%
	15	 	2.22%
	16	 	2.17%
	17	 	2.11%
	18	 	2.06%
	19	 	2.01%
	20	 	1.96%
	21	 	1.91%
	22	 	1.86%
	23	 	1.81%
	24	 	1.77%
	25	 	1.75%
	 	 	 
	26	 	1.75%
	27	 	1.75%
	28	 	1.75%
	29	 	1.75%
	30	 	1.75%
	31	 	1.75%
	32	 	1.75%
	33	 	1.75%
	34	 	1.75%
	35	 	1.75%
	36	 	1.75%
	37	 	1.75%

  

1
Starting with August, 2012.

 

    	 

    	 

    
 

	Month1	 	Target Advance Ratio
	 	 	 
	38	 	1.75%
	39	 	1.75%
	40	 	1.75%
	41	 	1.75%
	42	 	1.75%
	43	 	1.75%
	44	 	1.75%
	45	 	1.75%
	46	 	1.75%
	47	 	1.75%
	48	 	1.75%
	49	 	1.75%
	50	 	1.75%
	51	 	1.75%
	52	 	1.75%
	53	 	1.75%
	54	 	1.75%
	55	 	1.75%
	56	 	1.75%
	57	 	1.75%
	58	 	1.75%
	59	 	1.75%
	60	 	1.75%
	61	 	1.75%
	62	 	1.75%
	63	 	1.75%
	64	 	1.75%
	65	 	1.75%
	66	 	1.75%
	67	 	1.75%
	68	 	1.75%
	69	 	1.75%
	70	 	1.75%
	71	 	1.75%
	72	 	1.75%

 

    	 

    	 

    

 

SCHEDULE V

 

VALUATION
PERCENTAGE

  

	Investor Number	 	Purchase Price (bps)
	 	 	 
	2262	 	32.79
	2263	 	28.38
	2315	 	34.10
	2394	 	27.16
	2447	 	64.66
	2525	 	45.12
	2530	 	52.06
	2572	 	32.12
	2607	 	40.55
	2608	 	36.36
	2620	 	41.19
	2625	 	48.33
	2629	 	36.43
	2743	 	39.09
	3598	 	22.30
	3646	 	29.70
	3667	 	34.04
	3691	 	41.64
	3711	 	29.33

 

    	 

    	 

    

 

SCHEDULE
VI

 

AMORTIZATION
PERCENTAGE

  

	Month2	 	Amortization
    Percentage
	 	 	 
	1	 	100.00%
	2	 	98.50%
	3	 	97.00%
	4	 	95.50%
	5	 	94.10%
	6	 	92.60%
	7	 	91.20%
	8	 	89.90%
	9	 	88.50%
	10	 	87.20%
	11	 	85.80%
	12	 	84.50%
	13	 	83.30%
	14	 	82.00%
	15	 	80.70%
	16	 	79.50%
	17	 	78.30%
	18	 	77.10%
	19	 	76.00%
	20	 	74.80%
	21	 	73.70%
	22	 	72.60%
	23	 	71.50%
	24	 	70.40%
	25	 	69.30%
	26	 	68.30%
	27	 	67.20%
	28	 	66.20%
	29	 	65.20%
	30	 	64.20%
	31	 	63.20%
	32	 	62.30%
	33	 	61.30%
	34	 	60.40%
	35	 	59.50%

 

2 Starting with August, 2012.

 

    	 

    	 

    

 

	36	 	58.60%
	37	 	57.70%
	38	 	56.80%
	39	 	56.00%
	40	 	55.10%
	41	 	54.30%
	42	 	53.50%
	43	 	52.60%
	44	 	51.80%
	45	 	51.10%
	46	 	50.30%
	47	 	49.50%
	48	 	48.80%
	49	 	48.00%
	50	 	47.30%
	51	 	46.60%
	52	 	45.90%
	53	 	45.20%
	54	 	44.50%
	55	 	43.80%
	56	 	43.20%
	57	 	42.50%
	58	 	41.90%
	59	 	41.20%
	60	 	40.60%
	61	 	40.00%
	62	 	39.40%
	63	 	38.80%
	64	 	38.20%
	65	 	37.60%
	66	 	37.00%
	67	 	36.50%
	68	 	35.90%
	69	 	35.40%
	70	 	34.90%
	71	 	34.30%
	72	 	33.80%Exhibit 10.2

 

SUBSERVICING SUPPLEMENT

dated as of August 1, 2012

between

OCWEN LOAN SERVICING, LLC

and

HLSS HOLDINGS, LLC

 

    	 

    	 

    

 

Contents 

 

	Clause	 	Page
	 	 	 
	ARTICLE I.	       DEFINITIONS	1
	 	1.1	Definitions	1
	ARTICLE II.	       SUBSERVICING	3
	 	2.1	Engagement as Subservicer	3
	 	2.2	Servicing Transfer Procedures	3
	 	2.3	Reference to Master Subservicing Agreement	3
	ARTICLE III.	       SERVICING FEES	3
	 	3.1	Base Subservicing Fee	3
	 	3.2	Performance Fee	4
	ARTICLE IV.	       MISCELLANEOUS	4
	 	4.1	Incorporation	4
	 	4.2	Third Party Beneficiaries	4
	 	 	 
	SCHEDULE I	Servicing Agreements	 
	SCHEDULE II	Retained Servicing Fee Percentage	 
	SCHEDULE III	Target Ratio Schedule	 

 

    	 

    	 

    

 

SUBSERVICING SUPPLEMENT

 

This SUBSERVICING SUPPLEMENT, dated as of August
1, 2012 (this “Subservicing Supplement”), is by and between HLSS HOLDINGS, LLC, a Delaware limited liability
company (“Servicer”), and OCWEN LOAN SERVICING, LLC, a Delaware limited liability company (“Ocwen”).

 

RECITALS:

 

WHEREAS, as of the applicable Servicing Transfer
Date (as defined herein), Servicer will become the servicer of certain Mortgage Loans (as defined in the Master Subservicing Agreement)
pursuant to the terms of those certain pooling and servicing agreements or other servicing agreements listed in Schedule I
hereto; and

 

WHEREAS, Servicer and Ocwen are parties to that
certain Master Subservicing Agreement dated as of February 10, 2012 (the “Master Subservicing Agreement”); and

 

WHEREAS, Servicer desires to engage Ocwen to
act as subservicer with respect to the Mortgage Loans relating to those pooling and servicing agreements or other servicing agreements
listed in Schedule I hereto, as of the applicable Servicing Transfer Date (as defined herein), and Ocwen desires to act
as subservicer with respect to the Mortgage Loans relating to those pooling and servicing agreements or other servicing agreements,
on the terms set forth in the Master Subservicing Agreement, as supplemented by this Subservicing Supplement.

 

NOW, THEREFORE, in consideration of the premises
and mutual agreements hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, and intending to be legally bound hereby, Servicer and Ocwen agree as follows:

 

ARTICLE
I.

 

DEFINITIONS.

 

1.1        Definitions. (a) For purposes
of this Subservicing Supplement, the following capitalized terms shall have the respective meanings set forth or referenced below.

 

“Base Subservicing Fee” has
the meaning set forth in Section 3.1.

 

“Deferred Servicing Agreement”
has the meaning set forth in the Sale Supplement.

 

“Excess Servicing Advances”
shall mean, for any calendar month, the amount, if any, by which the outstanding Servicing Advances with respect to the Servicing
Agreements as of the last day of such calendar month exceeds an amount equal to (a) the Target Ratio for such calendar month multiplied
by (b) the unpaid principal balance of the Mortgage Loans subject to the Servicing Agreements as of the last day of such calendar
month.

 

Subservicing Supplement

 

    	1

    	 

    

 

“Monthly Servicing Fee”
shall mean, for each calendar month, the sum of the Base Subservicing Fee for such calendar month and the Seller Monthly
Servicing Fee (as defined in the Sale Supplement) for such calendar month.

 

“Performance Fee” has the
meaning set forth in Section 3.2.

 

“Retained Servicing Fee”
shall mean, for any calendar month, an amount equal to the sum of (a) the product of the Retained Servicing Fee Percentage for
such calendar month and the average unpaid principal balance of all Mortgage Loans subject to the Subject Servicing Agreements
and the Deferred Servicing Agreements during such calendar month, and (b) the Retained Servicing Fee Shortfall, if any, for the
immediately prior calendar month.

 

“Retained Servicing Fee Percentage”
shall mean, for any calendar month, the percentage set forth on Schedule II to this Subservicing Supplement.

 

“Retained Servicing Fee Shortfall”
shall mean, for any calendar month, beginning in August, 2012, an amount equal to the excess, if any, of (a) the Retained Servicing
Fee for such calendar month over (b) the excess, if any, of (x) the aggregate Servicing Fees actually received by Servicer pursuant
to the Subject Servicing Agreements and with respect to the Deferred Servicing Agreements during such calendar month (whether directly
pursuant to such Subject Servicing Agreement or pursuant to Sale Supplement, as applicable) over (y) the Monthly Servicing Fee
for such calendar month.

 

“Sale Supplement” shall mean
that certain Sale Supplement, dated as of the date hereof, between Servicer, as Purchaser, and Ocwen, as Seller, as the same may
be amended, supplemented or otherwise modified from time to time.

 

“Scheduled Termination Date”
means, with respect to each Subject Servicing Agreement serviced pursuant to this Subservicing Supplement, the date which is six
(6) years after the closing date of the initial acquisition of assets pursuant to the Sale Supplement.

 

“Servicing Agreement” shall
mean each of the pooling and servicing agreements or other servicing agreements listed in Schedule I hereto.

 

“Servicing Fees” shall mean,
with respect to any Servicing Agreement, the servicing fees payable to Servicer under the Subject Servicing Agreements, including
each “servicing fee” payable based on a percentage of the outstanding principal balance of the Mortgage Loans
serviced pursuant to such Servicing Agreement, but excluding any Ancillary Income, Prepayment Interest Excess or any amounts earned
in connection with the investment of funds in the related Custodial Accounts and Escrow Accounts.

 

“Servicing Transfer Date”
shall have the meaning specified in the Sale Supplement.

 

“Subject Servicing Agreement”,
shall mean, as of any date of determination, each Servicing Agreement with respect to which the Servicing Transfer Date has occurred
on or prior to such date and with respect to which the Subservicing Termination Date has not occurred on or prior to such date.

 

Subservicing Supplement

 

    	2

    	 

    

 

“Target Ratio” for each calendar
month shall mean the amount specified in Schedule III with respect to such month.

 

(b)        Any capitalized term used but not defined
in this Subservicing Supplement shall have the meaning assigned to such term in the Master Subservicing Agreement.

 

ARTICLE
II.

SUBSERVICING

 

2.1        Engagement as Subservicer. Servicer
hereby engages Ocwen to act as subservicer, and Ocwen agrees to act as subservicer, with respect to the Mortgage Loans relating
to those certain pooling and servicing agreements or other servicing agreements listed in Schedule I hereto (the “Subject
Servicing Agreements”) pursuant to the terms of the Master Subservicing Agreement, as supplement by this Subservicing
Supplement, on and after the related Servicing Transfer Date for such Subject Servicing Agreement. Except as set forth in this
Subservicing Supplement or the Master Subservicing Agreement, Ocwen further agrees to be responsible for performing all of the
duties and obligations of Servicer and its subservicers under each Subject Servicing Agreement, and to meet any standards and fulfill
any requirements applicable to Servicer or its subservicer under each Subject Servicing Agreement on and after the related Servicing
Transfer Date.

 

2.2        Servicing Transfer Procedures.
Servicer and Ocwen each covenant and agree to following the Servicing Transfer Procedures agreed pursuant to the Sale Supplement
with respect to each Subject Servicing Agreement.

 

2.3        Reference to Master Subservicing Agreement.
Each of Servicer and Subservicer agrees that (a) this Subservicing Supplement is a “Subservicing Supplement”
executed pursuant to Section 2.1 of the Master Subservicing Agreement, (b) the terms of this Subservicing Supplement are
hereby incorporated into the Master Subservicing Agreement with respect to the Subject Servicing Agreements and the related Mortgage
Loans to the extent set forth therein, (c) each of the Subject Servicing Agreements listed in Schedule I is a “Subject
Servicing Agreement” as such term is used in the Master Subservicing Agreement on and after the related Servicing Transfer
Date, and (d) the terms of this Subservicing Supplement apply to the Subject Servicing Agreements specified herein and not to any
other “Subject Servicing Agreement” as that term is used in the Master Subservicing Agreement. In the event of any
conflict between the provisions of this Subservicing Supplement and the Master Subservicing Agreement, the terms of this Subservicing
Supplement shall prevail.

 

ARTICLE
III.

SERVICING FEES

 

3.1        Base Subservicing Fee. As compensation
for its services with respect to the Subject Servicing Agreements, Servicer shall pay Ocwen a monthly base subservicing fee for
each calendar month during which Ocwen is servicing Mortgage Loans with respect to Subject Servicing Agreements pursuant to this
Subservicing Supplement equal to 12.00% of the aggregate Servicing Fees actually received by Servicer pursuant to the Subject Servicing
Agreements during such calendar month (the “Base Subservicing Fee”).

 

Subservicing Supplement

 

    	3

    	 

    

 

3.2        Performance Fee. Servicer shall
pay to Ocwen for each calendar month during which Ocwen is servicing Mortgage Loans with respect to Subject Servicing Agreements
pursuant to this Subservicing Supplement a performance fee (the “Performance Fee”) equal to the greater of (a)
zero and (b) the excess, if any, of the aggregate of all Servicing Fees actually received by Servicer pursuant to the Subject Servicing
Agreements and with respect to the Deferred Servicing Agreements during such calendar month (whether directly pursuant to such
Subject Servicing Agreement or pursuant to the Sale Supplement, as applicable) over the sum of (i) the Monthly Servicing Fee for
such calendar month and (ii) the Retained Servicing Fee for such calendar month, multiplied by (y) a fraction, (i) the numerator
of which is the average unpaid principal balance of all Mortgage Loans subject to the Subject Servicing Agreements during such
calendar month and (ii) the denominator of which is equal to the sum of the average unpaid principal balance of all Mortgage Loans
subject to the Deferred Servicing Agreements during such calendar month and the average unpaid principal balance of all Mortgage
Loans subject to the Subject Servicing Agreements during such calendar month, or such other allocation percentage which is agreed
by Servicer and Ocwen (the “Allocation Percentage”). The Performance Fee, if any, for any calendar month will
be reduced by 6.50% per annum (i.e., 0.5417% per month) of the Excess Servicing Advances, if any, for such calendar month multiplied
by the Allocation Percentage. If the Closing Date does not occur on the first day of a calendar month, the Performance Fee for
the period from the Closing Date to the last of the calendar month in which the Closing Date occurs shall be calculated in a pro
rata manner based on the number of days in such period.

 

ARTICLE
IV.

MISCELLANEOUS

 

4.1        Incorporation. The provisions
of Article 10 of the Master Subservicing Agreement are hereby incorporated into this Subservicing Supplement by reference,
mutatis mutandis, as if its provisions were fully set forth herein.

 

4.2        Third Party Beneficiaries.
Ocwen and Servicer each acknowledges and agrees that the indenture trustee, on behalf of the holders of related notes, with respect
to any Servicing Advance Facility pursuant to which Servicer has transferred Servicer Advances made pursuant to a Servicing Agreement
is an express third party beneficiary of this Subservicing Supplement and the Subservicing Agreement solely with respect to the
Servicing Agreements related to such Servicing Advance Facility.

 

[Signature Page Follows]

 

Subservicing Supplement

 

    	4

    	 

    

 

IN WITNESS WHEREOF, the parties hereto have
caused this Subservicing Supplement to be executed and delivered as of the date first above written.

 

	 	HLSS HOLDINGS, LLC
	 	 	 
	 	By: Home Loan Servicing Solutions, Ltd., its sole member
	 	 	 
	 		By:	 /s/ James Lauter
	 	 	 
	 	 	Name:   James Lauter
	 	 	 
	 	 	Title:   CFO
	 	 	 
	 	OCWEN LOAN SERVICING, LLC
	 	 	 
	 		By: 	/s/ John Britti
	 	 	 
	 	 	Name:   John Britti
	 	 	 
	 	 	Title:   Authorized Signatory

 

Subservicing Supplement

 

    	5

    	 

    

 

SCHEDULE I

 

SERVICING AGREEMENTS

 

	 	Short Form Deal
 Name	 	Subject Servicing Agreement [to be completed]	 	Investor Number
	1.	CDC IXIS 2003-HE2	 	Pooling and Servicing Agreement, dated as of May 1, 2003, by and among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, OCWEN FEDERAL BANK FSB, as Servicer, CDC MORTGAGE CAPITAL INC., as Unaffiliated Seller, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee	 	2262
	2.	GSAMP 2003-HE1	 	Pooling and Servicing Agreement, dated as of May 1, 2003, by and among GS MORTGAGE SECURITIES CORP., as Depositor, OCWEN FEDERAL BANK FSB, as Servicer, NC CAPITAL CORPORATION, as Responsible Party, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee	 	2263
	3.	CDC 2003-HE4	 	Pooling and Servicing Agreement, dated as of November 1, 2003, by and among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, OCWEN FEDERAL BANK FSB, as Servicer, CDC MORTGAGE CAPITAL INC., as Unaffiliated Seller, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee	 	2315
	4.	ACE 2006 ASAP2	 	Pooling and Servicing Agreement, dated as of March 1, 2006, among ACE SECURITIES CORP., as Depositor, OCWEN LOAN SERVICING, LLC, as Servicer, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Master Servicer and Securities Administrator and HSBC BANK USA, NATIONAL ASSOCIATION, as Trustee	 	2525
	5.	SAIL 2005-11	 	Securitization Servicing Agreement, dated as of December 1, 2005, by and among JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Servicer, LEHMAN BROTHERS HOLDINGS INC., as Seller, and AURORA LOAN SERVICES LLC, as Master Servicer	 	3691
	6.	SAIL 2005-1	 	Securitization Servicing Agreement, dated as of January 1, 2005, by and among OCWEN FEDERAL BANK FSB, as Servicer, LEHMAN BROTHERS HOLDINGS INC., as Seller, and AURORA LOAN SERVICES INC., as Master Servicer	 	2394

 

13508114 10355175

    	Sch I-1

    	 

    

 

	7.	BMAT 2006-1	 	Pooling and Servicing Agreement, dated as of April 1, 2006, by and among BMAT SECURITIES CORPORATION, as Depositor, ENCORE CREDIT CORP., as Seller, OCWEN LOAN SERVICING, LLC, as Servicer, CITIMORTGAGE, INC., as Master Servicer, OFFICETIGER GLOBAL REAL ESTATE SERVICES INC., as Loan Performance Advisor, DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee, and CITIBANK, N.A., as Securities Administrator	 	2530
	8.	GSAMP 2006-NC2	 	Pooling and Servicing Agreement, dated as of June 1, 2006, by and among GS MORTGAGE SECURITIES CORP., as Depositor, OCWEN LOAN SERVICING LLC, as Servicer, NEW CENTURY MORTGAGE CORPORATION, as Servicer, NC CAPITAL CORPORATION, as Responsible Party, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee, and WELLS FARGO BANK, N.A., as Master Servicer and Securities Administrator	 	2572
	9.	Soundview 2007-1	 	Pooling and Servicing Agreement, dated as of February 1, 2007, by and among FINANCIAL ASSET SECURITIES CORP., as Depositor, OCWEN LOAN SERVICING, LLC., as Servicer, WELLS FARGO BANK, N.A., as Master Servicer and Trust Administrator, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee	 	2607
	10.	MABS 2007-WMC1	 	Pooling and Servicing Agreement, dated as of February 1, 2007, by and among OCWEN LOAN SERVICING, LLC, as Servicer, WELLS FARGO BANK, N.A., as Master Servicer, Trust Administrator and Custodian, and U.S. BANK NATIONAL ASSOCIATION, as Trustee	 	2608
	11.	NHELI 2007-3	 	Pooling and Servicing Agreement, dated as of April 1, 2007, by and among NOMURA HOME EQUITY LOAN, INC., as Depositor, NOMURA CREDIT & CAPITAL, INC., as Sponsor,   OCWEN LOAN SERVICING, LLC and EQUITY ONE, INC., as Servicers WELLS FARGO BANK, NATIONAL ASSOCIATION,   as Master Servicer and Securities Administrator and HSBC BANK USA, NATIONAL ASSOCIATION, as Trustee	 	2620

 

13508114 10355175

    	Sch I-2

    	 

    

 

	12.	DB ACE 2007-ASAP2	 	Pooling and Servicing Agreement, dated as of May 1, 2007, by and among ACE SECURITIES CORP., as Depositor, OCWEN LOAN SERVICING, LLC, as Servicer, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Master Servicer and Securities Administrator, and HSBC BANK USA, NATIONAL ASSOCIATION, as Trustee	 	2625
	13.	ACE 2007-HE5	 	Pooling and Servicing Agreement, dated as of June 1, 2007, by and among ACE SECURITIES CORP., as Depositor, OCWEN LOAN SERVICING, LLC, as Servicer, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Master Servicer and Securities Administrator, and HSBC BANK USA, NATIONAL ASSOCIATION, as Trustee	 	2629
	14.	FIRST FRANKLIN 2004-FF2	 	Pooling and Servicing Agreement, dated as of April 1, 2004, by and among FINANCIAL ASSET SECURITIES CORP., as Depositor, SAXON MORTGAGE SERVICES, INC., as Servicer, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee	 	2743
	15.	MSABS 2003-HE3	 	Pooling and Servicing Agreement, dated as of October 1, 2003, by and among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, CHASE MANHATTAN MORTGAGE CORPORATION, as Servicer, ACCREDITED HOME LENDERS, INC, as Servicer and Responsible Party, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee	 	3598
	16.	PCHLST 2004-2	 	Pooling and Servicing Agreement, dated as of August 1, 2004, by and among PEOPLE’S CHOICE HOME LOAN SECURITIES CORP., as Company, WELLS FARGO BANK, N.A., as Master Servicer and Securities Administrator, and HSBC BANK USA, NATIONAL ASSOCIATION, as Trustee	 	3646
	17.	SAIL 2005-5	 	Securitization Servicing Agreement, dated as of May 1, 2005, by and among JPMORGAN CHASE BANK, NATIONAL ASSOCIATION as Servicer, LEHMAN BROTHERS HOLDINGS INC., as Seller, and AURORA LOAN SERVICES INC., as Master Servicer	 	3667 and 2447
	18.	SAIL 2006-BNC2	 	Securitization Servicing Agreement, dated as of May 1, 2005, by and among JPMORGAN CHASE BANK, NATIONAL ASSOCIATION as Servicer, LEHMAN BROTHERS HOLDINGS INC., as Seller, and AURORA LOAN SERVICES INC., as Master Servicer	 	3711

 

13508114 10355175

    	Sch I-3

    	 

    
 

SCHEDULE II

 

RETAINED SERVICING FEE PERCENTAGE

 

	From Month1	 	To Month	 	Retained Fee
	 	 	 	 	 
	1	 	3	 	29.5 bps
	4	 	6	 	28.5 bps
	7	 	9	 	26.5 bps
	10	 	12	 	26.0 bps
	13	 	15	 	24.5 bps
	16	 	18	 	24.0 bps
	19	 	21	 	22.5 bps
	22	 	24	 	22.0 bps
	25	 	72	 	22.0 bps

 

 

1 Starting with August 2012.

 

    	Sch II-1

    	 

    

 

SCHEDULE III

 

TARGET RATIO SCHEDULE

 

	Month2	 	Target Advance Ratio
	1	 	3.17%
	2	 	3.09%
	3	 	3.01%
	4	 	2.94%
	5	 	2.86%
	6	 	2.79%
	7	 	2.72%
	8	 	2.65%
	9	 	2.59%
	10	 	2.52%
	11	 	2.46%
	12	 	2.40%
	13	 	2.34%
	14	 	2.28%
	15	 	2.22%
	16	 	2.17%
	17	 	2.11%
	18	 	2.06%
	19	 	2.01%
	20	 	1.96%
	21	 	1.91%
	22	 	1.86%
	23	 	1.81%
	24	 	1.77%
	25	 	1.75%
	26	 	1.75%
	27	 	1.75%
	28	 	1.75%
	29	 	1.75%
	30	 	1.75%
	31	 	1.75%
	32	 	1.75%
	33	 	1.75%

 

 

2 Starting with  August 2012.

 

    	Sch III-1

    	 

    

 

	Month2	 	Target Advance Ratio
	34	 	1.75%
	35	 	1.75%
	36	 	1.75%
	37	 	1.75%
	38	 	1.75%
	39	 	1.75%
	40	 	1.75%
	41	 	1.75%
	42	 	1.75%
	43	 	1.75%
	44	 	1.75%
	45	 	1.75%
	46	 	1.75%
	47	 	1.75%
	48	 	1.75%
	49	 	1.75%
	50	 	1.75%
	51	 	1.75%
	52	 	1.75%
	53	 	1.75%
	54	 	1.75%
	55	 	1.75%
	56	 	1.75%
	57	 	1.75%
	58	 	1.75%
	59	 	1.75%
	60	 	1.75%
	61	 	1.75%
	62	 	1.75%
	63	 	1.75%
	64	 	1.75%
	65	 	1.75%
	66	 	1.75%
	67	 	1.75%
	68	 	1.75%
	69	 	1.75%
	70	 	1.75%
	71	 	1.75%
	72	 	1.75%

 

	Sch III-2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00206-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00206-of-00352.parquet"}]]