Document:

EX-4.8

 Exhibit 4.8 

 
  
 NATIONSTAR MORTGAGE ADVANCE RECEIVABLES TRUST 
 as Issuer 

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

and 
 NATIONSTAR
MORTGAGE LLC, 
 as Administrator and as Servicer 
 and 
 CREDIT SUISSE AG, NEW YORK BRANCH, 

as Administrative Agent 
 and 
 WELLS FARGO SECURITIES, LLC, 

as Administrative Agent 
 and 
 THE ROYAL BANK OF SCOTLAND PLC, 

as Administrative Agent 
  

 
 SERIES 2013-T3

 INDENTURE SUPPLEMENT 
 Dated as of June 7, 2013 
 to 

INDENTURE 
 Dated
as of June 7, 2013 
  
  

ADVANCE RECEIVABLES BACKED NOTES, 
 SERIES 2013-T3 
  
  

 TABLE OF CONTENTS 

 

							
	 	    	 	  	Page	 
			
	SECTION 1.	    	CREATION OF SERIES 2013-T3 NOTES	  	 	1	  
			
	SECTION 2.	    	DEFINED TERMS	  	 	2	  
			
	SECTION 3.	    	FORMS OF SERIES 2013-T3 NOTES; TRANSFER RESTRICTIONS	  	 	12	  
			
	SECTION 4.	    	COLLATERAL VALUE EXCLUSIONS	  	 	13	  
			
	SECTION 5.	    	SERIES 2013-T3 RESERVE ACCOUNT	  	 	15	  
			
	SECTION 6.	    	PAYMENTS; NOTE BALANCE INCREASES; EARLY MATURITY	  	 	15	  
			
	SECTION 7.	    	OPTIONAL REDEMPTIONS AND REFINANCING	  	 	16	  
			
	SECTION 8.	    	[RESERVED]	  	 	17	  
			
	SECTION 9.	    	SERIES REPORTS	  	 	17	  
			
	SECTION 10.	    	CONDITIONS PRECEDENT SATISFIED	  	 	18	  
			
	SECTION 11.	    	REPRESENTATIONS AND WARRANTIES	  	 	18	  
			
	SECTION 12.	    	AMENDMENTS	  	 	19	  
			
	SECTION 13.	    	COUNTERPARTS	  	 	19	  
			
	SECTION 14.	    	ENTIRE AGREEMENT	  	 	19	  
			
	SECTION 15.	    	LIMITED RECOURSE	  	 	19	  
			
	SECTION 16.	    	OWNER TRUSTEE LIMITATION OF LIABILITY	  	 	20	  

 THIS SERIES 2013-T3 INDENTURE SUPPLEMENT (this “Indenture
Supplement”), dated as of June 7, 2013, is made by and among NATIONSTAR MORTGAGE ADVANCE RECEIVABLES TRUST, a statutory trust organized under the laws of the State of Delaware (the “Issuer”), THE BANK OF NEW YORK
MELLON, a New York banking corporation, as trustee (the “Indenture Trustee”), as calculation agent (the “Calculation Agent”), as paying agent (the “Paying Agent”) and as securities intermediary (the
“Securities Intermediary”), NATIONSTAR MORTGAGE LLC, a Delaware limited liability company (“Nationstar”), as Administrator on behalf of the Issuer, as Servicer under the Designated Servicing Agreements, CREDIT
SUISSE AG, NEW YORK BRANCH, (“Credit Suisse”), as Administrative Agent (as defined below) WELLS FARGO SECURITIES, LLC (“WFS”), as Administrative Agent and THE ROYAL BANK OF SCOTLAND PLC (“RBS”), as
Administrative Agent. This Indenture Supplement relates to and is executed pursuant to that certain Indenture (as amended, supplemented, restated or otherwise modified from time to time, the “Base Indenture”) supplemented hereby,
dated as of June 7, 2013, among the Issuer, the Servicer, the Administrator and the Indenture Trustee, the Calculation Agent, the Paying Agent, the Securities Intermediary, Credit Suisse, as Administrative Agent, WFS, as Administrative Agent,
and RBS, as Administrative Agent, all the provisions of which are incorporated herein as modified hereby and shall be a part of this Indenture Supplement as if set forth herein in full (the Base Indenture as so supplemented by this Indenture
Supplement being referred to as the “Indenture”). 
 Capitalized terms used and not otherwise
defined herein shall have the respective meanings given them in the Base Indenture. 
 PRELIMINARY STATEMENT 

The Issuer has duly authorized the issuance of a Series of Notes, the Series 2013-T3 Notes (the “Series 2013-T3
Notes”). The parties are entering this Indenture Supplement to document the terms of the issuance of the Series 2013-T3 Notes pursuant to the Base Indenture, which provides for the issuance of Notes in multiple series from time to time.

 Section 1.     Creation of Series 2013-T3 Notes. 

There are hereby created, effective as of the Issuance Date, the Series 2013-T3 Notes, to be issued pursuant to the Base
Indenture and this Indenture Supplement, to be known as “Nationstar Mortgage Advance Receivables Trust 2013-T3 Advance Receivables Backed Notes, Series 2013-T3 Notes.” The Series 2013-T3 Notes shall not be subordinated to any other Series
of Notes. The Series 2013-T3 Notes are issued in six (6) Classes of Term Notes (Class A-T3, Class B-T3, Class C-T3, Class D-T3, Class E-T3, and Class F-T3), with the Initial Note Balances, Stated Maturity Dates, Revolving Period, Note Interest
Rates, Expected Repayment Dates and other terms as specified in this Indenture Supplement, to be known as the Advance Receivables Backed Notes, Series 2013-T3. The Series 2013-T3 Notes shall be secured by the Trust Estate Granted to the Indenture
Trustee pursuant to the Base Indenture. The Indenture Trustee shall hold the Trust Estate as collateral security for the benefit of the Noteholders of the Series 2013-T3 Notes and all other Series of Notes issued under the Indenture as described
therein. In the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in the Base Indenture, the terms and provisions of this Indenture Supplement shall govern to the extent of
such conflict. 

 Section 2.     Defined Terms. 

With respect to the Series 2013-T3 Notes and in addition to or in replacement for the definitions set forth in
Section 1.1 of the Base Indenture, the following definitions shall be assigned to the defined terms set forth below: 
 “Administrative Agent” means, for so long as the Series 2013-T3 Notes have not been paid in full: (i) with respect to the provisions of this Indenture Supplement, Credit Suisse, WFS,
and RBS, or an Affiliate or successor thereto; and (ii) with respect to the provisions of the Base Indenture, and notwithstanding the terms and provisions of any other Indenture Supplement, together, Credit Suisse, WFS, RBS and such other
parties as set forth in any other Indenture Supplement, or a respective Affiliate or any respective successor thereto. For the avoidance of doubt, reference to “it” or “its” with respect to the Administrative Agent in the Base
Indenture shall mean “them” and “their,” and reference to the singular therein in relation to the Administrative Agent shall be construed as if plural. 

“Advance Rates” means, on any date of determination with respect to each Receivable related to any Class
of Series 2013-T3 Notes, the percentage amount based on the Advance Type of such Receivable, as set forth below, subject to amendment by mutual agreement of the Administrative Agent and the Administrator, and with consultation with each Note Rating
Agency; provided, that 
 (i)     in the event that the Servicer’s sub-prime
servicer rating is reduced below “Average” by S&P (a “Ratings Reduction”) the Advance Rates applicable to the Receivables related to such Class of Notes shall be equal to the Advance Rates set forth below prior to such
ratings reduction minus 5.00% for so long as such subprime servicer rating is below “Average” by S&P; and 
 (ii)     the Advance Rate for any Receivable related to any Class of Notes shall be zero if such Receivable is not a Facility Eligible Receivable: 

 

					
	 Series 2013-T3 Advance Rates(1)

	  
 Class
A-T3
	  	  
	 	  

	  
 Advance Type
/ Type of Advance
	  	Non-Loan-Level	 	Loan-Level
			
	 Non-Judicial P&I Advances
	  	90.25%	 	0.00%
			
	 Judicial P&I Advances
	  	82.75%	 	0.00%
			
	 Non-Judicial Escrow Advances
	  	91.00%	 	84.00%
			
	 Judicial Escrow Advances
	  	84.75%	 	71.25%
			
	 Non-Judicial Corporate Advances
	  	87.50%	 	71.25%
			
	 Judicial Corporate Advances
	  	83.50%	 	64.75%

  
 2 

					
	 Series 2013-T3 Advance Rates(1)

			
	 Class B-T3
	  	  
	 	  

			
	 Advance Type / Type of Advance
	  	Non-Loan-Level	 	Loan-Level
			
	 Non-Judicial P&I Advances
	  	92.75%	 	0.00%
			
	 Judicial P&I Advances
	  	88.25%	 	0.00%
			
	 Non-Judicial Escrow Advances
	  	93.00%	 	88.25%
			
	 Judicial Escrow Advances
	  	89.50%	 	80.25%
			
	 Non-Judicial Corporate Advances
	  	90.50%	 	80.75%
			
	 Judicial Corporate Advances
	  	88.25%	 	76.25%
	  
 Class
C-T3
	  	  
	 	  

			
	 Advance Type / Type of Advance
	  	Non-Loan-Level	 	Loan-Level
			
	 Non-Judicial P&I Advances
	  	93.75%	 	0.00%
			
	 Judicial P&I Advances
	  	91.00%	 	0.00%
			
	 Non-Judicial Escrow Advances
	  	94.00%	 	90.50%
			
	 Judicial Escrow Advances
	  	91.75%	 	84.75%
			
	 Non-Judicial Corporate Advances
	  	92.25%	 	85.25%
			
	 Judicial Corporate Advances
	  	90.50%	 	82.00%
	  
 Class
D-T3
	  	  
	 	  

			
	 Advance Type / Type of Advance
	  	Non-Loan-Level	 	Loan-Level
			
	 Non-Judicial P&I Advances
	  	94.75%	 	0.00%
			
	 Judicial P&I Advances
	  	92.75%	 	0.00%
			
	 Non-Judicial Escrow Advances
	  	94.75%	 	92.75%
			
	 Judicial Escrow Advances
	  	93.00%	 	89.50%
			
	 Non-Judicial Corporate Advances
	  	93.50%	 	90.25%
			
	 Judicial Corporate Advances
	  	92.25%	 	87.75%
	  
 Class
E-T3
	  	  
	 	  

			
	 Advance Type / Type of Advance
	  	Non-Loan-Level	 	Loan-Level
			
	 Non-Judicial P&I Advances
	  	95.50%	 	0.00%
			
	 Judicial P&I Advances
	  	94.25%	 	0.00%
			
	 Non-Judicial Escrow Advances
	  	95.50%	 	95.00%
			
	 Judicial Escrow Advances
	  	94.50%	 	94.25%
			
	 Non-Judicial Corporate Advances
	  	94.50%	 	95.25%
			
	 Judicial Corporate Advances
	  	93.75%	 	93.25%

  
 3 

					
	 Series 2013-T3 Advance Rates(1)

	  
 Class
F-T3
	  	  
	 	  

	  
 Advance Type
/ Type of Advance
	  	Non-Loan-Level	 	Loan-Level
			
	 Non-Judicial P&I Advances
	  	95.75%	 	0.00%
			
	 Judicial P&I Advances
	  	95.00%	 	0.00%
			
	 Non-Judicial Escrow Advances
	  	95.75%	 	95.50%
			
	 Judicial Escrow Advances
	  	95.25%	 	94.75%
			
	 Non-Judicial Corporate Advances
	  	95.00%	 	97.00%
			
	 Judicial Corporate Advances
	  	94.50%	 	93.75%
	
	 (1) The Advance Rate for Judicial Deferred Servicing Fee Receivables (Non-Loan-Level), Non-Judicial Deferred Servicing Fee Receivables
(Non-Loan-Level) Judicial Deferred Servicing Fee Receivables (Loan-Level) and Non-Judicial Deferred Servicing Fee Receivables (Loan-Level) is 0.00 %.

 “Advance Ratio” means, as of any date of determination with respect to
any Designated Servicing Agreement, the ratio (expressed as a percentage), calculated as of the last day of the calendar month immediately preceding the calendar month in which such date occurs, of (i) the Stressed Nonrecoverable Advance Amount
of all Mortgage Loans (other than any Mortgage Loans that generate Receivables that are Loan-Level Receivables, any Mortgage Loans that generate Receivables that are Second-Lien Receivables or any Mortgage Loans that are attributable to Small
Threshold Servicing Agreements) serviced pursuant to the related Designated Servicing Agreement on such date over (ii) the aggregate monthly scheduled principal and interest payments for the calendar month immediately preceding the calendar
month in which such date occurs with respect to all non-delinquent Mortgage Loans serviced pursuant to the related Designated Servicing Agreement. 
 “Advance to UPB Ratio” means, as of any date of determination with respect to any Designated Servicing Agreement, the ratio (expressed as a percentage), of (i) the aggregate dollar
amount of Advances as of such date that have not been reimbursed to the Servicer arising under the related Designated Servicing Agreement over (ii) the aggregate unpaid principal balance of all Mortgage Loans that are not Delinquent serviced
pursuant to the related Designated Servicing Agreement as of such date. 
 “Applicable Rating”
means the rating assigned to each Class of the Series 2013-T3 Notes by S&P, as the Note Rating Agency, upon the issuance of such Class as set forth below: 
  

	 	(i)	 Class A-T3: AAA(sf); 

  

	 	(ii)	 Class B-T3: AA(sf); 

  

	 	(iii)	 Class C-T3: A(sf); 

  

	 	(iv)	 Class D-T3: BBB (sf); 

  

	 	(v)	 Class E-T3: BB(sf); and 

  

	 	(vi)	 Class F-T3: B(sf). 

  
 4 

 “Base Indenture” has the meaning assigned to such term in
the Preamble. 
 “Class A-T3 Term Notes” means, the Term Notes, Class A-T3, issued hereunder by
the Issuer, having an Initial Note Balance of $271,200,000, or any Term Notes issued in replacement thereof pursuant to Section 7 of this Indenture Supplement. 

“Class B-T3 Term Notes” means, the Term Notes, Class B-T3, issued hereunder by the Issuer, having an
Initial Note Balance of $12,800,000, or any Term Notes issued in replacement thereof pursuant to Section 7 of this Indenture Supplement. 
 “Class C-T3 Term Notes” means, the Term Notes, Class C-T3, issued hereunder by the Issuer, having an Initial Note Balance of $6,100,000, or any Term Notes issued in replacement thereof
pursuant to Section 7 of this Indenture Supplement. 
 “Class D-T3 Term Notes” means, the
Term Notes, Class D-T3, issued hereunder by the Issuer, having an Initial Note Balance of $4,300,000, or any Term Notes issued in replacement thereof pursuant to Section 7 of this Indenture Supplement. 

“Class E-T3 Term Notes” means, the Term Notes, Class E-T3, issued hereunder by the Issuer, having an
Initial Note Balance of $3,900,000, or any Term Notes issued in replacement thereof pursuant to Section 7 of this Indenture Supplement. 
 “Class F-T3 Term Notes” means, the Term Notes, Class F-T3 issued hereunder by the Issuer, having an Initial Note Balance of $1,700,000, or any Term Notes issued in replacement thereof
pursuant to Section 7 of this Indenture Supplement. 
 “Corporate Trust Office” means,
with respect to the Series 2013-T3 Notes, the office of the Indenture Trustee (or The Bank of New York Mellon in any of its capacities) at which at any particular time its corporate trust business will be administered, which office at the date
hereof is located at (i) for purposes other than final payment or note transfers, 101 Barclay Street, Floor 4W, New York, New York 10286, Attention: Nationstar Agency Advance Funding Trust, Series 2013-T3, and (ii) for purposes of
final payment and note transfers, 2001 Bryan Street, 9th
Floor, Dallas, TX 75201, Attention: Transfers, Nationstar 2013-T3. 
 “Default Rate” means,
with respect to any Interest Accrual Period, for each Class of Notes, the then applicable Note Interest Rate (without regard to the proviso in the definition of “Note Interest Rate” in the Base Indenture) plus 3.00% per annum.

 “Delinquent” means for any Mortgage Loan, any Monthly Payment due thereon is not made by the
close of business on the day such Monthly Payment is required to be paid and remains unpaid for more than 30 days. 
 “Expected Repayment Date” means, for each Class of the Series 2013-T3 Notes, June 20, 2018. 

  
 5 

 “Expense Rate” means, as of any date of determination, with
respect to the Series 2013-T3 Notes, the percentage equivalent of a fraction, (i) the numerator of which equals the sum of (1) the product of the Series Allocation Percentage for such Series multiplied by (1) the aggregate
amount of Fees due and payable by the Issuer on the next succeeding Payment Date plus (2) the product of the Series Allocation Percentage for such Series multiplied by any expenses payable or reimbursable by the Issuer on the next
succeeding Payment Date, up to the applicable Expense Limit, if any, prior to any payments to the Noteholders of the Series 2013-T3 Notes, pursuant to the terms and provisions of this Indenture Supplement, the Base Indenture or any other Transaction
Document that have been invoiced to the Indenture Trustee and the Administrator, plus (3) the aggregate amount of related Series Fees payable by the Issuer on the next succeeding Payment Date and (ii) the denominator of which equals
the sum of the outstanding Note Balances of all Series 2013-T3 Notes at the close of business on such date. 

“Initial Note Balance” means, for any Note or for any Class of Notes, the Note Balance of such Note upon
issuance, as follows: 
  

	 	(i)	 Class A-T3: $271,200,000; 

  

	 	(ii)	 Class B-T3: $12,800,000; 

  

	 	(iii)	 Class C-T3: $6,100,000; 

  

	 	(iv)	 Class D-T3: $4,300,000; 

  

	 	(v)	 Class E-T3: $3,900,000; and 

  

	 	(vi)	 Class F-T3: $1,700,000. 

 “Initial Payment Date” means July 22, 2013. 

“Interest Accrual Period” means, for the Series 2013-T3 Notes and any Payment Date, the period beginning
on the immediately preceding Payment Date (or, in the case of the first Payment Date with respect to any Class, the Issuance Date) and ending on the day immediately preceding the current Payment Date. The Interest Payment Amount for the Series
2013-T3 Notes on any Payment Date shall be determined based on an assumed 30-day Interest Accrual Period. 

“Interest Day Count Convention” means 30 days divided by 360 other than with respect to the Initial
Payment Date, which is 43 days divided by 360. 
 “Interim Payment Date” means, with respect to
the Series 2013-T3 Notes, up to six dates each calendar month provided that the Issuer provides the Noteholders of the Series 2013-T3 Notes and the Indenture Trustee at least two (2) Business Days’ prior notice, or if any such date
is not a Business Day, the next succeeding Business Day to the extent any such day occurs during the Revolving Period, and any other date otherwise agreed to between the Issuer and the Noteholders of the Series 2013-T3 Notes. 

“Issuance Date” means June 7, 2013. 

  
 6 

 “Limited Funding Date” means any Business Day that is not a
Payment Date or Interim Payment Date, at a time when no Facility Early Amortization Event shall have occurred and shall be continuing, which date is designated by the Administrator on behalf of the Issuer to the Indenture Trustee and the
Administrative Agent in writing no later than 9:00 a.m. Eastern Time two (2) Business Days prior to such date; provided, that the Administrator shall have delivered a Funding Certification in accordance with Section 4.3(a) of the Indenture
for such date, and provided, further that no fundings may be made under a Variable Funding Note on such date and no payments on any Notes shall be made on such date; provided, further, that no more than five (5) Limited Funding Dates may be
designated by the Administrator on behalf of the Issuer in any calendar month. 
 “Low Threshold
Servicing Agreement” means a Designated Servicing Agreement that is not a Small Threshold Servicing Agreement and (i) for which the underlying Mortgage Loans have an unpaid principal balance greater than or equal to $1,000,000 but less
than $10,000,000, or (ii) that relates to at least 15 but fewer than 50 Mortgage Loans, as of the end of the most recently concluded calendar month. 
 “Market Value” means, with respect to the Mortgaged Property securing a Mortgage Loan or any REO Property, the market value of such property (determined by the Servicer in its reasonable
good faith discretion, which shall be by reference to the most recent value received by the Servicer with respect to such Mortgaged Property or REO Property in accordance with its servicing policies, if available) or the appraised value of the
Mortgaged Property obtained in connection with the origination of the related Mortgage Loan, if no updated valuation has been required under the Servicer’s servicing policies; provided, that the Market Value for any Mortgaged Property or REO
Property shall be equal to $0 for any Mortgage Loan that is 60 or more days delinquent and the related valuation (as established by the lesser of either an appraisal, broker’s price opinion, the Servicer’s automated valuation model or any
other internal valuation methodology (including but not limited to HPI indexing) utilized by the Servicer, which is consistent with the Servicer’s servicing policies with respect to such Mortgaged Property or REO Property) is more than six
(6) months old. 
 “Market Value Ratio” means, as of any date of determination with
respect to a Designated Servicing Agreement, the ratio (expressed as a percentage) of (i) the lesser of (A) the Funded Advance Receivable Balance for such Designated Servicing Agreement on such date and (B) the aggregate of the
Receivable Balances of all Facility Eligible Receivables under such Designated Servicing Agreement on such date over (ii) the aggregate Market Value of the Mortgaged Properties and REO Properties for the Mortgage Loans serviced under such
Designated Servicing Agreement on such date. 
 “Middle Threshold Servicing Agreement” means a
Designated Servicing Agreement that is not a Small Threshold Servicing Agreement or a Low Threshold Servicing Agreement and (i) for which the underlying Mortgage Loans have an unpaid principal balance greater than or equal to $10,000,000 but
less than $25,000,000, or (ii) that relates to at least 50 but fewer than 125 Mortgage Loans, as of the end of the most recently concluded calendar month. 

  
 7 

 “Monthly Payment” means, with respect to any Mortgage Loan,
the monthly scheduled principal and interest payments required to be paid by the mortgagor on any due date with respect to such Mortgage Loan. 
 “Monthly Reimbursement Rate” means, as of any date of determination, the arithmetic average of the fractions (expressed as percentages), determined for each of the three (3) most
recently concluded calendar months, obtained by dividing (i) the aggregate Advance Reimbursement Amounts collected by the Servicer and deposited into the Trust Accounts during such calendar month by (ii) the Funded Advance Receivable
Balance as of the close of business on the last day of such calendar month. 
 “Mortgage Loan-Level
Market Value Ratio” means, as of any date of determination with respect to a Mortgage Loan or REO Property that is secured by a first lien on the related Mortgaged Property, the ratio (expressed as a percentage) of (x) the aggregate
Receivable Balance of all Receivables outstanding with respect to such Mortgage Loan or REO Property on such date over (y) the Market Value of such Mortgaged Property or REO Property on such date. 

“Net Proceeds Coverage Percentage” means, for any Payment Date, the percentage equivalent of a fraction,
(i) the numerator of which equals the amount of Collections on Receivables deposited into the Collection and Funding Account during the related Monthly Advance Collection Period, and (ii) the denominator of which equals the aggregate
average outstanding Note Balances of all Outstanding Notes during such Monthly Advance Collection Period. 

“Note Interest Rate” means, with respect to any Interest Accrual Period for each Class of Notes,
(x) prior to the Expected Repayment Date, the applicable Senior Rate or (y) from and after the Expected Repayment Date, if the Notes of any Class have not been refinanced, the applicable Senior Rate plus 1.00% per annum. For the
avoidance of doubt, the “Note Interest Rate” for the Series 2013-T3 Notes is subject to the definition of “Note Interest Rate” in the Base Indenture. 

“Note Rating Agency” means, for the Series 2013-T3 Notes, S&P. 

“Ratings Reduction” has the meaning given to such term in the definition of “Advance Rates.”

 “Redemption Percentage” means, for the Series 2013-T3 Notes, 10%. 

“Second-Lien Receivable” means a Receivable that arises under a Designated Servicing Agreement for which
the related Advance or Deferred Servicing Fee relates to a Mortgage Loan or REO Property secured by a second lien. 
 “Senior Rate” means, for (i) Class A-T3, a rate per annum equal to 2.438%; (ii) Class B-T3, a rate per annum equal to 2.833%; (iii) Class C-T3, a rate per annum equal to
2.981%; (iv) Class D-T3, a rate per annum equal to 3.819%; (v) Class E-T3, a rate per annum equal to 5.926%; and (vi) Class F-T3, a rate per annum equal to 6.413%. 

  
 8 

 “Series 2013-T3 Note Balance” means the aggregate Note
Balance of the Series 2013-T3 Notes. 
 “Series 2013-T3 Note Purchase Agreement” means that
certain Note Purchase Agreement, dated on or about June 7, 2013, by and among the Issuer, the Receivables Seller and Credit Suisse Securities (USA) LLC, as Initial Purchaser, Wells Fargo Securities, LLC, as Initial Purchaser, RBS Securities
Inc., as Initial Purchaser, Barclays Capital Inc., as Initial Purchaser and Merrill Lynch, Pierce, Fenner & Smith, Inc., as Initial Purchaser. 
 “Series Reserve Required Amount” means, with respect to any Payment Date or Interim Payment Date, as the case may be, for the Series 2013-T3 Notes, an amount equal to on any Payment Date
or Interim Payment Date four month’s interest calculated at the applicable Senior Rate on the Note Balance of each Class of Series 2013-T3 Notes as of such Payment Date or Interim Payment Date, as the case may be. 

“Small Threshold Servicing Agreement” means a Designated Servicing Agreement (i) for which the
underlying Mortgage Loans have an unpaid principal balance of less than $1,000,000, or (ii) that relates to fewer than 15 Mortgage Loans, as of the end of the most recently concluded calendar month. 

“Stated Maturity Date” means, for each Class of Series 2013-T3 Term Notes, June 22, 2048.

 “Stressed Nonrecoverable Advance Amount” means as of any date of determination, the sum of:

 (i)     for all Mortgage Loans that are current as of such date, the
greater of (A) zero and (B) the excess of (1) Total Advances related to such Mortgage Loans on such date over (2) the product of 50% and the sum of all of the Market Values for the related Mortgaged Property; and 

(ii)     for all Mortgage Loans that are delinquent as of such date, but not related
to property in foreclosure or REO Property, the greater of (A) zero and (B) the excess of (1) Total Advances related to such Mortgage Loans on such date over (2) the product of 50% and the sum of all of the Market Values for the
related Mortgaged Property; and 
 (iii)     for all Mortgage Loans that are
related to properties in foreclosure, the greater of (A) zero and (B) the excess of (1) Total Advances related to such Mortgage Loans on such date over (2) the product of 50% and the sum of all of the Market Values for the
related Mortgaged Property; and 
 (iv)     for all REO Property, the
greater of (A) zero and (B) the excess of (1) Total Advances related to such Mortgage Loans on such date over (2) the product of 50% and the sum of all of the Market Values for the related REO Property. 

For the avoidance of doubt, this definition of “Stressed Nonrecoverable Advance Amount” shall not be applicable
to Mortgage Loans attributable to Small Threshold Servicing Agreements, any Mortgage Loans that generate Receivables that are Loan-Level Receivables or any Mortgage Loans that generate Second-Lien Receivables. 

  
 9 

 “Stressed Time” means, as of any date of determination for
any Class of Series 2013-T3 Notes, the percentage equivalent of a fraction, the numerator of which is one (1), and the denominator of which equals the related Stressed Time Percentage for such Class times the Monthly Reimbursement Rate on such date.

 “Stressed Time Percentage” means, for Class A-T3: 27.00%, Class B-T3: 37.25%, Class C-T3:
46.25%, Class D-T3: 56.75%, Class E-T3: 70.50%, and Class F-T3: 78.50%. 
 “Target Amortization
Amounts” means, for each Class of the Series 2013-T3 Notes, one-twelfth (1/12) of the Note Balance of such Class at the close of business on the last day of its Revolving Period. 

“Target Amortization Event” for any Class of the Series 2013-T3 Notes, means the earlier of (A) the
related Expected Repayment Date for such Class or (B) the occurrence of any of the following conditions or events, which is not waived by Noteholders of sixty-six and two-thirds percent (66 2/3%) of the Note Balance of the Outstanding Notes,
measured by Voting Interests, of the Series 2013-T3 Notes: 
 (i)     on any
Payment Date, the arithmetic average of the Net Proceeds Coverage Percentage determined for such Payment Date and the two preceding Payment Dates is less than five (5) times the percentage equivalent of a fraction (A) the numerator of
which equals the sum of the accrued Interest Payment Amounts for each Class of Outstanding Notes on such date and (B) the denominator of which equals the aggregate average Note Balances of each Class of all Outstanding Notes during the related
Monthly Advance Collection Period; 
 (ii)     the occurrence of one or more
Servicer Termination Events with respect to Designated Servicing Agreements representing 15% or more (by Mortgage Loan balance as of the date of termination) of all the Designated Servicing Agreements then included in the Trust Estate, but not
including any Servicer Termination Events that are solely due to the breach of one or more Collateral Performance Tests or a Servicer Ratings Downgrade; 

(iii)     the Monthly Reimbursement Rate is less than 3.00%; 

(iv)     any failure by the Administrator to deliver any Determination Date
Administrator Report pursuant to Section 3.2 of the Base Indenture which continues unremedied for a period of thirty (30) days after a Responsible Officer of the Administrator shall have obtained actual knowledge of such failure, or shall
have received written or electronic notice from the Indenture Trustee or any Noteholder of such failure; 
 (v)     the Issuer, the Receivables Seller, the Servicer, the Depositor or the Administrator shall breach or default in the due observance or performance of any of its covenants or
agreements in this Indenture Supplement, the Base Indenture, or any other 

  
 10 

 
Transaction Document (subject to any cure period provided therein and such default has a material adverse effect on any Noteholders of any Series 2013-T3 Notes and which material adverse effect
is continuing), other than an obligation of the Receivables Seller to make an Indemnity Payment following a breach of a representation or warranty with respect to such Receivable pursuant to Section 4(b) of the Receivables Sale Agreement or any
payment default described in Section 8.1 of the Base Indenture, and any such default shall continue for a period of thirty (30) days after the earlier to occur of (i) actual discovery by a Responsible Officer of the Issuer, the
Receivables Seller, the Servicer, the Depositor or the Administrator, as applicable, or (ii) the date on which written or electronic notice of such failure, requiring the same to be remedied, shall have been given from the Indenture Trustee or
any Noteholder to a Responsible Officer of the Issuer, the Receivables Seller, the Servicer, the Depositor or the Administrator; provided, that a breach of Section 6(b) of the Receivables Sale Agreement, or Section 7(b) of the
Receivables Pooling Agreement (prohibiting the Receivables Seller, the Servicer or the Depositor, as applicable, from causing or permitting Insolvency Proceedings with respect to the Depositor or the Issuer, as applicable) shall constitute an
automatic Target Amortization Event; or 
 (vi)     if any representation or
warranty of the Issuer, the Receivables Seller, the Servicer, the Depositor or the Administrator made in this Indenture Supplement, the Base Indenture, or any other Transaction Document (other than under Section 4(b) of the Receivables Sale
Agreement) shall prove to have been breached in any material respect as of the time when the same shall have been made or deemed made which has a material adverse effect on the right of the Noteholders of the Series 2013-T3 Notes and which material
adverse effect is continuing, and continues uncured and unremedied for a period of thirty (30) days after the earlier to occur of (i) actual discovery by a Responsible Officer of the Issuer, the Receivables Seller, the Servicer, the
Depositor or the Administrator, as applicable, or (ii) the date on which written notice of such failure, requiring the same to be remedied, shall have been given to a Responsible Officer of the Issuer, the Receivables Seller, the Servicer, the
Depositor or the Administrator, as applicable. 
 “Total Advances” means, with respect to any
Mortgage Loan or REO Property on any date of determination, the sum of all outstanding amounts of all outstanding Advances related to Facility Eligible Receivables funded by the Servicer out of its own funds or other funds (including Advances funded
using Amounts Held for Future Distribution under the related Designated Servicing Agreement) and all outstanding Deferred Servicing Fees with respect to such Mortgage Loan or REO Property on such date. 

“Transaction Documents” means, in addition to the documents set forth in the definition thereof in the
Base Indenture, this Indenture Supplement and the Series 2013-T3 Note Purchase Agreement, each as amended, supplemented, restated or otherwise modified from time to time. 

“Trigger Advance Rate” means, for any Class within the Series 2013-T3 Notes, as of any date, the rate
equal to the greater of (x) zero and (y) (1) 100% minus (2) the product of (a) one-twelfth (1/12) of the weighted average interest rates for all Classes of the Series 2013-T3 Notes as of such date, plus the
related Expense Rate as of such date, multiplied by (b) the related Stressed Time for such Class as of such date. 

  
 11 

 There are no “Other Advance Rate Reduction Events” or “Other
Advance Rate Reduction Event Cure Periods” in respect of the Series 2013-T3 Notes. 
 Section
3.    Forms of Series 2013-T3 Notes; Transfer Restrictions. 
 The form of the Rule 144A
Global Note and of the Regulation S Global Note that may be used to evidence the Class A-T3 Term Notes, the Class B-T3 Term Notes, the Class C-T3 Term Notes, the Class D-T3 Term Notes and the Class E-T3 Term Notes in the circumstances described
in Section 5.4(c) of the Base Indenture are attached to the Base Indenture as Exhibits A-1 and A-3, respectively. For the avoidance of doubt, and subject to the terms and provisions of Section 5.4 of the Base Indenture, the
Class A-T3 Term Notes, the Class B-T3 Term Notes, the Class C-T3 Term Notes, the Class D-T3 Term Notes and the Class E-T3 Term Notes are to be issued as Book-Entry Notes. The form of the Rule 144A Definitive Note that may be used to evidence
the Class F-T3 Term Notes in the circumstances described in Section 5.4(c) of the Base Indenture are attached to the Base Indenture as Exhibit A-2, respectively. The Class F-T3 Term Notes are to be issued as Definitive Notes and are
required to remain in physical form and are not exchangeable for Book-Entry Notes, notwithstanding anything to the contrary in the Base Indenture. 
 Any Noteholder of the Offered Notes may only resell, pledge or transfer its beneficial interest in the Series 2013-T3 Notes to (i) a person that the transferor reasonably believes is, and who has
certified (or, in the case of Book-Entry Notes, is deemed to have certified) that it is, a Qualified Institutional Buyer that purchases for its own account or for the account of a Qualified Institutional Buyer and to whom notice is given that the
resale, pledge or transfer is made in reliance on Rule 144A or in the case of the Class E-T3 Term Notes and the Class F-T3 Term Notes only, an “Accredited Investor” as defined in paragraphs (1), (2), (3) or (7) of Rule 501 under
the Securities Act or (ii) except in the case of the Class F-T3 Term Notes (which may not be transferred to Non-U.S. Persons as defined for U.S. federal income tax purposes), to Non-U.S. Persons outside the United States in “Off-shore
Transactions” in reliance on the safe harbor provided by Regulation S that are also, in the case of the Class E-T3 Term Notes, Qualified Institutional Buyers. 

The Series 2013-T3 Term Notes other than the Class E-T3 Term Notes and Class F-T3 Term Notes will be issued in minimum
denominations of $100,000 and integral multiples of $1,000 in excess thereof. The Class E-T3 Term Notes will be issued in minimum denominations of $1,000,000 and integral multiples of $1,000 in excess thereof. The Class F-T3 Term Notes will be
issued in minimum denominations of $500,000 and integral multiples of $1,000 in excess thereof. In addition, the Class E-T3 Term Notes and Class F-T3 Term Notes may not be transferred unless the proposed transferee of a beneficial interest makes
certain representations in which such beneficial owner agrees to avoid certain actions that could result in an alternate characterization of the Issuer as provided in Section 6.5(m) and (n) of the Base Indenture, as applicable. Each
transferee of a beneficial interest in the Class E-T3 Term Notes and the Class F-T3 Term Notes shall be deemed, by acceptance of such beneficial interest, to have made the representations provided in Section 6.5(m) or (n) of the Base
Indenture, as applicable. The Class 

  
 12 

 
E-T3 Term Note is a Class 1 Specified Note for purposes of the Base Indenture, and each transferee of a beneficial interest in a Class E-T3 Term Note must provide the Indenture Trustee and Note
Registrar with representations substantially in the form of Exhibit E of the Base Indenture or such attempted transfer shall be void ab initio. The Class F-T3 Term Note is a Class 2 Specified Note for purposes of the Base Indenture, and
each transferee of a beneficial interest in a Class F-T3 Term Note must provide the Indenture Trustee and Note Registrar with representations substantially in the form of Exhibit F of the Base Indenture or such attempted transfer shall be
void ab initio.
 Proposed transferees of Class A-T3 Term Notes, the Class B-T3 Term Notes, the Class C-T3
Term Notes and the Class D-T3 Term Notes will be required make (or in the case of Book Entry Notes, will be deemed to make) certain certifications for purposes of ERISA as provided in Section 4.02 of the Base Indenture. Each proposed
transferee of Class E-T3 Term Note or Class F-T3 Term Note (as Specified Notes under the Base Indenture) will be required to certify that it is not and is not acting on behalf of, or using assets of, an Employee Benefit Plan as provided in
Section 4.02 of the Base Indenture. 
 Section 4.    Collateral Value Exclusions.

 For purposes of calculating “Collateral Value” in respect of the Series 2013-T3 Notes, the
Collateral Value shall be zero for any Receivable that: 
 (i)     is
attributable to any Designated Servicing Agreement to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances already outstanding with respect to such Designated Servicing Agreement, would cause the
related Advance Ratio to be equal to or greater than 100.0%; provided, that this clause (i) shall not apply to any Receivable that is (a) attributable to a Designated Servicing Agreement that is a Small Threshold Servicing
Agreement, (b) a Loan-Level Receivable, or (c) a Second-Lien Receivable; 
 (ii)
    is attributable to any Designated Servicing Agreement to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances already outstanding with respect to such Designated Servicing
Agreement, would cause the related Market Value Ratio to exceed 25.0%; 
 (iii)
    is a Facility Eligible Receivable that is attributable to a Small Threshold Servicing Agreement to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances of all Facility
Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements, would cause the total Receivable Balances attributable to all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements to
exceed 2.5% of the total Receivable Balances of all Facility Eligible Receivables included in the Trust Estate; 
 (iv)     is a Facility Eligible Receivable that is attributable to a Small Threshold Servicing Agreement or a Low Threshold Servicing Agreement, to the extent that the Receivable
Balance of such Receivable, when added to the aggregate Receivable Balances of all Facility Eligible Receivables outstanding with respect to Small Threshold 

  
 13 

 
Servicing Agreements and Low Threshold Servicing Agreements, would cause the total Receivable Balances attributable to all Facility Eligible Receivables outstanding with respect to Small
Threshold Servicing Agreements and Low Threshold Servicing Agreements to exceed 7.5% of the total Receivable Balances of all Facility Eligible Receivables included in the Trust Estate; 

(v)     is a Facility Eligible Receivable that is attributable to a Small Threshold
Servicing Agreement, a Low Threshold Servicing Agreement, or a Middle Threshold Servicing Agreement, to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances of all Facility Eligible Receivables
outstanding with respect to Small Threshold Servicing Agreements, Low Threshold Servicing Agreements and Middle Threshold Servicing Agreements would cause the total Receivable Balances attributable to all Facility Eligible Receivables outstanding
with respect to Small Threshold Servicing Agreements, Low Threshold Servicing Agreements and Middle Threshold Servicing Agreements to exceed 15.0% of the total Receivable Balances of all Facility Eligible Receivables included in the Trust Estate;

 (vi)     is attributable to a Designated Servicing Agreement, to the
extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances outstanding with respect to that same Designated Servicing Agreement, would cause the total Receivable Balances attributable to such Designated
Servicing Agreement to exceed 15.0% of the aggregate of the Receivable Balances of the Aggregate Receivables; 
 (vii)     (a) if it is a Loan-Level Receivable, its Receivable Balance, when added to the aggregate Receivable Balances of all Receivables with respect to the related Mortgage Loan or
REO Property, would cause the related Mortgage Loan-Level Market Value Ratio to exceed 50.0%; or (b) if it is a Receivable related to a Mortgage Loan or REO Property that is attributable to a Designated Servicing Agreement that is a Small
Threshold Servicing Agreement, its Receivable Balance, when added to the aggregate Receivable Balances of all Receivables related to the Mortgage Loan or REO Property that is attributable to a Designated Servicing Agreement that is a Small Threshold
Servicing Agreement, would cause the related Mortgage Loan-Level Market Value Ratio to exceed 50.0%; 
 (viii)     is a Second-Lien Receivable unless the following criteria are satisfied: 

(1)     the related Servicing Agreement must have a General Collections Backstop;

 (2)     the related Servicing Agreement may not be a Small Threshold
Servicing Agreement; 
 (3)     the Advance to UPB Ratio in respect of the
related Servicing Agreement must be less than 25%; and 

  
 14 

 (4)     the Receivables Balance of such
Second-Lien Receivable when added to the aggregate Receivables Balances of all Second-Lien Receivables that are Facility Eligible Receivables and that satisfy the criteria in clauses (1), (2) and (3) above would not cause the aggregate
Receivables Balances to exceed 3% of the total Receivables Balances of all Facility Eligible Receivables included in the Trust Estate; 
 (ix)     has a zero Advance Rate; 
 (x)     is a Loan-Level Receivable, to the extent that the related Receivable Balance of such Loan-Level Receivable, when added to the aggregate Receivable Balances of Loan-Level
Receivables already outstanding with respect to all Mortgage Loans or REO Properties, causes the aggregate Receivable Balances of Loan-Level Receivables outstanding with respect to all Mortgage Loans or REO Properties to exceed 10.0% of the
aggregate Receivable Balance of all Facility Eligible Receivables included in the Trust Estate; or 
 (xi)     is a Facility Eligible Receivable that is (a) attributable to a Small Threshold Servicing Agreement, (b) a Loan-Level Receivable or (c) a Second-Lien
Receivable, to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances of all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements and all Loan-Level
Receivables and Second-Lien Receivables that are Facility Eligible Receivables, would cause the total Receivable Balances attributable to all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements and all
Loan-Level Receivables and Second-Lien Receivables that are Facility Eligible Receivables to exceed 12.5% of the total Receivable Balances of all Facility Eligible Receivables included in the Trust Estate. 

For purposes of each of the foregoing, (i) if any Facility Eligible Receivable (other than any Deferred Servicing
Fee Receivable) has a Collateral Value equal to zero pursuant to any Collateral Value exclusion test, the portion of the Receivables Balance thereof with a Collateral Value of zero shall be disregarded for all other purposes of this Section 5,
in each case as determined by the Administrator in a manner that maximizes the Collateral Value and (ii) if any Facility Eligible Receivable (other than any Deferred Servicing Fee Receivable) has an Advance Rate of zero or is a Second-Lien
Receivable, such Facility Eligible Receivable shall be disregarded for all other purposes of this Section 5 (other than that clause (ix) above shall apply for all Deferred Servicing Fee Receivables). 

Section 5.     Series 2013-T3 Reserve Account. 

In accordance with the terms and provisions of this Section 5 and Section 4.6 of the Base Indenture, the
Indenture Trustee shall establish and maintain a Series Reserve Account, which shall be an Eligible Account, with respect to the Series 2013-T3 Notes for the benefit of the Series 2013-T3 Noteholders. 

Section 6.     Payments; Note Balance Increases; Early Maturity. 

The Paying Agent shall make payments of interest on the Series 2013-T3 Notes on each Payment Date in accordance with
Section 4.5 of the Base Indenture and any payments of interest (including unrated interest amounts), Cumulative Interest Shortfall Amounts or Fees allocated to 

  
 15 

 
the Series 2013-T3 Notes shall be paid first to the Class A-T3 Term Notes, thereafter to the Class B-T3 Term Notes, thereafter to the Class C-T3 Term Notes, thereafter to the Class D-T3 Term
Notes, thereafter to the Class E-T3 Term Notes and thereafter to the Class F-T3 Term Notes. The Paying Agent shall make payments of principal on the Series 2013-T3 Notes on each Payment Date in accordance with Section 4.5 of the Base Indenture
during any Target Amortization Period or any Full Amortization Period. 
 The Series 2013-T3 Notes are subject
to optional redemption in accordance with the terms of Section 13.1 of the Base Indenture and are subject to redemption and refinancing pursuant to Section 7 of this Indenture Supplement. 

Any payments of principal allocated to the Series 2013-T3 Notes during a Full Amortization Period shall be applied in the
following order of priority, first, to the Class A-T3 Term Notes, pro rata until their Note Balance has been reduced to zero, second, to the Class B-T3 Term Notes, pro rata, until their Note Balance has been reduced to zero,
third, to the Class C-T3 Term Notes, pro rata, until their Note Balance has been reduced to zero, fourth, to the Class D-T3 Term Notes, pro rata, until their Note Balance has been reduced to zero, fifth, to the Class E-T3 Term
Notes, pro rata, until their Note Balance has been reduced to zero and sixth, to the Class F-T3 Term Notes, pro rata, until their Note Balance has been reduced to zero. 

Notwithstanding anything to the contrary in Section 8.1(a)(i) of the Base Indenture, an Event of Default under
Section 8.1(a)(i) shall exist on the Series 2013-T3 Notes only if there is a default (which default continues for a period of two (2) Business Days following written or electronic notice from the Indenture Trustee or the Administrative
Agent), in the payment of any principal, Senior Interest Amount or any Fees due and owing on any Payment Date (including without limitation the full aggregate amount of any Target Amortization Amounts due on such Payment Date). 

Section 7.     Optional Redemptions and Refinancing. 

The Series 2013-T3 Notes are subject to optional redemption by the Issuer, in whole but not in part on any Payment Date
on or after the earlier of the first Payment Date occurring after June 7, 2015 or the Payment Date on which the aggregate Note Balance of the Series 2013-T3 Notes is less than the Redemption Percentage of the aggregate Initial Note Balance
thereof. The Series 2013-T3 Notes are subject to optional redemption by the Issuer pursuant to Section 13.1 of the Base Indenture, in whole but not in part with respect to such group of Classes, using the proceeds of the issuance and sale of
one or more new Classes of Series 2013-T3 Notes issued pursuant to a supplement to this Indenture Supplement, on any Business Day after the date on which the related Revolving Period ends or on any Business Day within 10 days prior to the end of
such Revolving Period upon 10 days’ prior notice to the Noteholders. In anticipation of a redemption of the Series 2013-T3 Notes at the end of their Revolving Period, the Issuer may issue a new Series or one or more Classes of Notes within the
90 day period prior to the end of such Revolving Period and reserve the cash proceeds of the issuance for the sole purpose of paying the principal balance and all accrued and unpaid interest on the Series 2013-T3 Notes to be redeemed, on the last
day of their Revolving Period. Any supplement to this Indenture Supplement executed to effect an optional redemption may be entered into without consent of the Holders of any of the Notes pursuant to Section 12(a)(iv) of the Base Indenture. Any
Notes 

  
 16 

 
issued in replacement for the Series 2013-T3 Notes will have the same rights and privileges as the Class of Series 2013-T3 Note that was refinanced with the related proceeds thereof; provided,
such replacement Notes may have different Expected Repayment Dates and Stated Maturity Dates. 
 Section 8.
    [RESERVED] 
 Section 9.     Series Reports. 

(a)     Series Calculation Agent Report.  The Calculation Agent shall deliver a
report of the following items together with each Calculation Agent Report pursuant to Section 3.1 of the Base Indenture to the extent received from the Servicer, with respect to the Series 2013-T3 Notes: 

(i)     the unpaid principal balance of the Mortgage Loans subject to any Small
Threshold Servicing Agreement, Low Threshold Servicing Agreement and Middle Threshold Servicing Agreement; 
 (ii)     the Advance Ratio for each Designated Servicing Agreement, and whether the Advance Ratio for such Designated Servicing Agreement exceeds 100.0%; 

(iii)     the Market Value Ratio for each Designated Servicing Agreement, and whether
the Market Value Ratio for such Designated Servicing Agreement exceeds 25.0%; 
 (iv)
    for each Small Threshold Servicing Agreement, as of the end of the most recently concluded calendar month, the aggregate of the Funded Advance Receivable Balances of all Receivables attributable to such Designated Servicing
Agreement as a percentage of the aggregate of the Funded Advance Receivable Balances of all Receivables included in the Trust Estate; 
 (v)     for each Middle Threshold Servicing Agreement, as of the end of the most recently concluded calendar month, the aggregate of the Funded Advance Receivable Balances of all
Receivables attributable to such Designated Servicing Agreement as a percentage of the aggregate of the Funded Advance Receivable Balances of all Receivables included in the Trust Estate; 

(vi)     for each Low Threshold Servicing Agreement, as of the end of the most
recently concluded calendar month, the aggregate of the Funded Advance Receivable Balances of all Receivables attributable to such Designated Servicing Agreement as a percentage of the aggregate of the Funded Advance Receivable Balances of all
Receivables included in the Trust Estate; 
 (vii)     a list of each Target
Amortization Event for the Series 2013-T3 Notes and presenting a yes or no answer beside each indicating whether each such Target Amortization Event has occurred as of the end of the Monthly Advance Collection Period preceding the upcoming Payment
Date or the Advance Collection Period preceding the upcoming Interim Payment Date; 

  
 17 

 (viii)     the Mortgage Loan-Level
Market Value Ratio for each Mortgage Loan related to a Loan-Level Receivable or a Receivable related to a Mortgage Loan or REO Property that is attributable to a Designated Servicing Agreement that is a Small Threshold Servicing Agreement, and if
any such Mortgage Loan-Level Market Value Ratio exceeds 50%; 
 (ix)
     whether any Receivable, or any portion of the Receivables, attributable to a Designated Servicing Agreement, has a Collateral Value of zero by virtue of the definition of “Collateral Value” or
Section 4 of this Indenture Supplement; 
 (x)      a
calculation of the Net Proceeds Coverage Percentage in respect of each of the three preceding Monthly Advance Collection Periods (or each that has occurred since the date of this Indenture Supplement, if less than three), and the arithmetic average
of the three; 
 (xi)      the Monthly Reimbursement Rate for the
upcoming Payment Date or Interim Payment Date; 
 (xii)     whether any
Target Amortization Amount that has become due and payable has been paid; 
 (xiii)
    the Stressed Nonrecoverable Advance Amount for the upcoming Payment Date or Interim Payment Date; and 
 (xiv)     the Trigger Advance Rate for each Class. 
 (b)     Series Payment Date Report.  In conjunction with each Payment Date Report, the Indenture Trustee shall also report the Stressed Time Percentage. 

(c)     Limitation on Indenture Trustee Duties.  The Indenture Trustee shall have no
independent duty to verify: (i) the occurrence of any of the events described in clauses (ii), (iii) or (iv) of the definition of “Target Amortization Event,” or (ii) compliance with clause (vi) of the
definition of “Facility Eligible Servicing Agreement.” 
 Section 10.
    Conditions Precedent Satisfied. 
 The Issuer hereby represents and warrants to the
Noteholders of the Series 2013-T3 Notes and the Indenture Trustee that, as of the related Issuance Date, each of the conditions precedent set forth in the Base Indenture, including but not limited to those conditions precedent set forth in
Section 6.10(b) and Article XII thereof and Section 12 hereof, as applicable, have been satisfied. 
 Section 11.     Representations and Warranties. 
 The Issuer, the Administrator, the Servicer and the Indenture Trustee hereby restate as of the related Issuance Date, or as of such other date as is specifically referenced in the body of such
representation and warranty, all of the representations and warranties set forth in Sections 9.1, 10.1 and 11.14, respectively, of the Base Indenture. 

  
 18 

 Section 12.     Amendments. 

(a)     Notwithstanding any provisions to the contrary in Article XII of the Base Indenture, and
in addition to and otherwise subject to the provisions set forth in Sections 12.1 and 12.3 of the Base Indenture, without the consent of the Noteholders of any Notes or any other Person but with the consent of the Issuer (evidenced by its
execution of such amendment), the Indenture Trustee, the Administrator, the Servicer, and the Administrative Agent, and with prior notice to the applicable Note Rating Agency, at any time and from time to time, upon delivery of an Issuer Tax Opinion
and upon delivery by the Issuer to the Indenture Trustee of an Officer’s Certificate to the effect that the Issuer reasonably believes that such amendment will not have an Adverse Effect, may amend this Indenture Supplement for any of the
following purposes: (i) to correct any mistake or typographical error or cure any ambiguity, or to cure, correct or supplement any defective or inconsistent provision herein or any other Transaction Document; (ii) to correct, modify or
supplement any provision herein that may be defective or may be inconsistent with any provision in the final Private Placement Memorandum dated June 4, 2013, as it may be amended or supplemented from time to time; (iii) to take any action
necessary to maintain the rating currently assigned by the applicable Note Rating Agency and/or to avoid such Class of Notes being placed on negative watch by such Note Rating Agency; or (iv) to amend any other provision of this Indenture
Supplement. 
 (b)     Notwithstanding any provisions to the contrary in Section 6.10
or Article XII of the Base Indenture, no supplement, amendment or indenture supplement entered into with respect to the issuance of a new Series of Notes or pursuant to the terms and provisions of Section 12.2 of the Base Indenture may,
without the consent of 100% of the Series 2013-T3 Notes, supplement, amend or revise any term or provision of this Indenture Supplement. 
 Section 13.     Counterparts. 
 This
Indenture Supplement may be executed in any number of counterparts, by manual or facsimile signature, each of which so executed shall be deemed to be an original, but all of such counterparts shall together constitute but one and the same
instrument. 
 Section 14.     Entire Agreement. 

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

Section 15.     Limited Recourse. 

Notwithstanding any other terms of this Indenture Supplement, the Series 2013-T3 Notes, any other Transaction Documents
or otherwise, the obligations of the Issuer under the Series 2013-T3 Notes, this Indenture Supplement and each other Transaction Document to which it is a party are limited recourse obligations of the Issuer, payable solely from the Trust Estate,
and following realization of the Trust Estate and application of the proceeds thereof in accordance with the terms of this Indenture Supplement, none of the Noteholders of Series 2013-T3 Notes, the Indenture Trustee or any of the other parties to
the Transaction Documents shall be entitled to 

  
 19 

 
take any further steps to recover any sums due but still unpaid hereunder or thereunder, all claims in respect of which shall be extinguished and shall not thereafter revive. No recourse shall be
had for the payment of any amount owing in respect of the Series 2013-T3 Notes or this Indenture Supplement or for any action or inaction of the Issuer against any officer, director, employee, shareholder, stockholder or incorporator of the Issuer
or any of their successors or assigns for any amounts payable under the Series 2013-T3 Notes or this Indenture Supplement. It is understood that the foregoing provisions of this Section 15 shall not (a) prevent recourse to the Trust
Estate for the sums due or to become due under any security, instrument or agreement which is part of the Trust Estate or (b) save as specifically provided therein, constitute a waiver, release or discharge of any indebtedness or obligation
evidenced by the Series 2013-T3 Notes or secured by this Indenture Supplement. It is further understood that the foregoing provisions of this Section 15 shall not limit the right of any Person to name the Issuer as a party defendant in
any proceeding or in the exercise of any other remedy under the Series 2013-T3 Notes or this Indenture Supplement, so long as no judgment in the nature of a deficiency judgment or seeking personal liability shall be asked for or (if obtained)
enforced against any such Person or entity. 
 Section 16.     Owner Trustee Limitation
of Liability. 
 It is expressly understood and agreed by the parties hereto that (a) this Indenture
Supplement is executed and delivered by Wilmington Trust, National Association, not individually or personally, but solely as Owner Trustee of the Issuer under the Trust Agreement, in the exercise of the powers and authority conferred and vested in
it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representation, undertaking and agreement by Wilmington Trust, National Association, but is made and
intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Wilmington Trust, National Association, individually or personally, to perform any covenant either expressed or
implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Wilmington Trust, National Association,
be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Indenture Supplement or the
other Transaction Documents. 

  
 20 

 IN WITNESS WHEREOF, Nationstar Mortgage Advance Receivables Trust, as
Issuer, Nationstar Mortgage LLC (as Administrator and as Servicer), The Bank of New York Mellon, as Indenture Trustee, Calculation Agent, Paying Agent and Securities Intermediary, and Credit Suisse AG, New York Branch, as Administrative Agent, Wells
Fargo Securities, LLC, as Administrative Agent, and The Royal Bank of Scotland PLC, as Administrative Agent, have caused this Indenture Supplement relating to the Series 2013-T3 Notes, to be duly executed by their respective officers thereunto duly
authorized and their respective signatures duly attested all as of the day and year first above written. 
  

															
	NATIONSTAR MORTGAGE ADVANCE RECEIVABLES TRUST, as Issuer	 		 		 	THE BANK OF NEW YORK MELLON, as Indenture Trustee, Calculation Agent, Paying Agent and Securities Intermediary and not in its individual
capacity
	  

By:  
	 	  
 Wilmington Trust, National Association, not in its
individual capacity but solely as Owner Trustee
	 		 		 
						
	By:	 	 /s/ Rachel L. Simpson
	 		 		 	By:	 	 /s/ Michael Commisso

		 	Name:	 	 Rachel L. Simpson
	 		 		 		 	Name:	 	 Michael Commisso

		 	Title:	 	 Assistant Vice President
	 		 		 		 	Title:	 	 Vice President

				
	 NATIONSTAR MORTGAGE LLC,
 as Administrator and as Servicer
	 		 		 	 CREDIT SUISSE AG, NEW YORK BRANCH,
 as Administrative Agent

						
	By:	 	 /s/ Amar Patel
	 		 		 	By:	 	 /s/ Michelangelo Raimondi

		 	Name:	 	 Amar Patel
	 		 		 		 	Name:	 	 Michelangelo Raimondi

		 	 Title:
	 	 Executive Vice President
	 		 		 		 	Title:	 	 Vice President

							
		 		 		 		 		 	By:	 	 /s/ Robbin W. Conner

		 		 		 		 		 		 	Name:	 	 Robbin W. Conner

		 		 		 		 		 		 	Title:	 	 Director

  
 21 

															
	WELLS FARGO SECURITIES, LLC	 	THE ROYAL BANK OF SCOTLAND PLC
					
	By:	 	 /s/ Joseph Neilson
	 		 	By:	 	RBS Securities Inc., its agent,
							
		 	Name:	 	 Joseph Neilson
	 		 		 	By:	 	 /s/ Ravi Mittal

								
		 	Title:	 	 Director
	 		 		 		 	Name:	 	 Ravi Mittal

								
		 		 		 		 		 		 	Title:	 	 Vice President

  
 22EX-10.1

 Exhibit 10.1 
 RECEIVABLES POOLING AGREEMENT 
 NATIONSTAR ADVANCE FUNDING III LLC 

(Depositor) 
 and

 NATIONSTAR MORTGAGE ADVANCE RECEIVABLES TRUST 
 (Issuer) 
 Dated as of June 7, 2013 

NATIONSTAR MORTGAGE ADVANCE RECEIVABLES TRUST 
 ADVANCE RECEIVABLES BACKED NOTES, ISSUABLE IN SERIES 

 TABLE OF CONTENTS 

 
  

					
	  	  	Page	 
		
	 Section 1.    Definitions; Incorporation by Reference
	  	 	2	  
	 Section 2.    Transfer of Receivables
	  	 	4	  
	 Section 3.    Depositor’s Acknowledgment and Consent to Assignment
	  	 	6	  
	 Section 4.    Representations, Warranties and Certain Covenants of Depositor
	  	 	6	  
	 Section 5.    Remedies Upon Breach
	  	 	11	  
	 Section 6.    Termination
	  	 	12	  
	 Section 7.    General Covenants of Depositor
	  	 	12	  
	 Section 8.    Grant Clause
	  	 	14	  
	 Section 9.    Grant by Issuer
	  	 	15	  
	 Section 10.      Protection of Indenture Trustee’s Security Interest in Trust
Estate
	  	 	15	  
	 Section 11.      Limited Recourse
	  	 	15	  
	 Section 12.      Miscellaneous
	  	 	16	  
		
	 Schedule 1      Form of Assignment of Receivables
	  			

  
 i 

 RECEIVABLES POOLING AGREEMENT 

This RECEIVABLES POOLING AGREEMENT (as it may be amended, supplemented, restated, or otherwise modified from time to
time, this “Agreement”) is made as of June 7, 2013 (the “Closing Date”), by and between NATIONSTAR ADVANCE FUNDING III LLC, a limited liability company organized under the laws of the State of
Delaware (the “Depositor”), and NATIONSTAR MORTGAGE ADVANCE RECEIVABLES TRUST, a statutory trust organized under the laws of Delaware (the “Issuer”). 

RECITALS 
 A.    The Depositor is a special purpose Delaware limited liability company wholly owned by Nationstar Mortgage LLC (“Nationstar”). The Issuer is a statutory
trust organized under the laws of Delaware. As of the Closing Date, Nationstar acts as the servicer under one or more certain servicing agreements (each, as it may be amended, supplemented, restated, or otherwise modified from time to time, a
“Servicing Agreement” and collectively, the “Servicing Agreements”), has the obligation to make Advances from and after the Closing Date, and the right to collect the related Receivables in
reimbursement of such Advances and the right to collect Receivables in existence on the Closing Date related to Advances previously made by Nationstar. As such, Nationstar, as servicer, will service pools of mortgage loans in accordance with the
terms of one or more Servicing Agreements identified on the Designated Servicing Agreement Schedule (each, a “Designated Servicing Agreement” and, collectively, the “Designated Servicing Agreements”)
for inclusion under this Agreement, the Receivables Sale Agreement, of even date herewith, between Nationstar and the Depositor (as amended, restated, supplemented or otherwise modified from time to time, the “Receivables Sale
Agreement”) and the Indenture (as defined below). 
 B.    The Issuer and
Nationstar, as servicer and as Administrator (in such capacity, the “Administrator”), The Bank of New York Mellon, as Indenture Trustee (the “Indenture Trustee”), as Calculation Agent, as Paying Agent
and as Securities Intermediary, Credit Suisse AG (New York Branch) (“Credit Suisse”), as administrative agent, Wells Fargo Securities, LLC (“Wells Fargo”), as administrative agent, and The Royal Bank
of Scotland plc (“RBS”), as administrative agent (together with Credit Suisse and Wells Fargo, collectively, the “Administrative Agent”), propose to enter into an Indenture (as it may be amended,
supplemented, restated, or otherwise modified from time to time and including any indenture supplement, the “Indenture”), dated as of even date herewith, pursuant to which the Issuer shall be permitted to issue different
Series of Advance Receivables Backed Notes (the “Notes”) from time to time, on the terms and conditions set forth in the Indenture. 
 C.    Nationstar is obligated to make certain Advances from time to time with respect to the Mortgage Loans under the Designated Servicing Agreements of different Advance Types as more
fully described in the Indenture. Upon its disbursement of an Advance with respect to a mortgage loan that is governed by a Designated Servicing Agreement, Nationstar has a contractual right to be reimbursed for such Advance in accordance with the
terms of the related Designated Servicing Agreement. Nationstar, as receivables seller, has sold, assigned, transferred, conveyed and contributed to the Depositor all its contractual rights (A) to reimbursement pursuant to the terms of a
Designated Servicing Agreement for an Advance 

 
disbursed by Nationstar (or any predecessor servicer to the extent that Nationstar acquires the Advances) pursuant to such Designated Servicing Agreement, which Advance has not previously been
reimbursed, or (B) to payment pursuant to the terms of a Designated Servicing Agreement listed on the Designated Servicing Agreement Schedule for a Deferred Servicing Fee which has been accrued by Nationstar but not paid, and including in
either case all rights of Nationstar (including any predecessor servicer), to enforce payment of such obligation under the related Servicing Agreement and which it either acquires from a predecessor servicer or which it creates itself as described
in (A) or (B) above, from the date hereof through the Receivables Sale Termination Date under the Designated Servicing Agreements and each Advance previously made by any predecessor servicer before the Closing Date (any right to
reimbursement in respect of any such Advance or Deferred Servicing Fee, a “Receivable” and, collectively, the “Receivables”), pursuant to the Receivables Sale Agreement. The Depositor is entering into
this Agreement to sell and/or contribute, assign, transfer and convey to the Issuer all Receivables acquired by the Depositor from Nationstar, as receivables seller, immediately upon the Depositor’s acquisition of such Receivables pursuant to
the Receivables Sale Agreement. 
 D.    The Notes issued by the Issuer pursuant to the
Indenture will be collateralized by the Aggregate Receivables and related property and certain monies in respect thereof now owned and to be hereafter acquired by the Issuer. 

E.    In consideration of each transfer by the Depositor to the Issuer of the Transferred Assets on
the terms and subject to the conditions set forth in this Agreement, the Issuer has agreed to pay to the Depositor a purchase price equal to 100% of the fair market value thereof on each Sale Date. To the extent the purchase price actually paid in
cash by the Issuer for the Transferred Assets is less than 100% of the fair market value thereof, the consideration for such excess fair market value shall be an increase in the value of the Owner Trust Certificate of the Issuer, 100% of which is
held by the Depositor, by the amount by which the fair market value of such Receivable exceeds the cash purchase price actually paid therefor. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the above
premises and of the mutual promises hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 Section 1.    Definitions; Incorporation by Reference. 

(a)    This Agreement is entered into in connection with the terms and conditions of the Indenture.
Any capitalized term used but not defined herein shall have the meaning given to it in the Indenture. Futhermore, for any capitalized term defined herein but defined in greater detail in the Indenture, the detailed information from the Indenture
shall be incorporated herein by reference. 
 Additional Receivables: As defined in Section 2(a)(ii).

 Administrative Agent: As defined in the Recitals. 

  
 2 

 Administrator: As defined in the Recitals. 

Aggregate Receivables: All Initial Receivables and all Additional Receivables sold and/or contributed by the Depositor to the
Issuer hereunder. 
 Agreement: As defined in the Preamble. 

Assignment of Receivables: Each agreement documenting an assignment by the Depositor to the Issuer substantially in the form set
forth on Schedule 1. 
 Closing Date: As defined in the Preamble. 

Credit Suisse: As defined in the Recitals. 
 Depositor: As defined in the Preamble. 
 Depositor’s Related
Documents: As defined in Section 4(a)(iii). 
 Designated Servicing Agreement and Designated Servicing
Agreements: As defined in the Recitals. 
 Indenture: As defined in the Recitals. 

Indenture Trustee: As defined in the Recitals. 
 Initial Receivables: As defined in Section 2(a)(i). 

Issuer: As defined in the Preamble. 
 Nationstar: As defined in the Recitals. 
 Notes: As defined in the
Recitals. 
 Purchase: Each purchase by the Issuer from the Depositor of Transferred Assets. 

Purchase Price: As defined in Section 2(b). 
 Receivable and Receivables: As defined in the Recitals. 

Receivables Sale Agreement: As defined in the Recitals. 
 Receivables Sale Termination Date: The date, after the conclusion of the Revolving Period, on which all amounts due on all Classes of Notes issued by the Issuer pursuant to the Indenture, and all
other amounts payable to any party pursuant to the Indenture, shall have been paid in full. 
 Removed Servicing
Agreement: As defined in Section 2(c). 
 Sale Date: (i) With respect to the Initial Receivables,
the Closing Date and (ii) with respect to any Additional Receivables, each date after the Closing Date and prior to the Receivables Sale Termination Date on which such Additional Receivable is sold and/or contributed, assigned, transferred and
conveyed by the Depositor to the Issuer pursuant to the terms of this Agreement. 

  
 3 

 Series: As defined in the Indenture. 
 Servicing Agreement and Servicing Agreements: As defined in the Recitals. 
 Stop
Date: As defined in Section 2(c). 
 Subsidiary: With respect to any Person (i) any corporation more
than 50% of the outstanding securities having ordinary voting power of which shall at the time be owned or controlled, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its
Subsidiaries, or (ii) any partnership, limited liability company, association, joint venture or similar business organization more than 50% of the ownership interests having ordinary voting power of which shall at the time be so owned or
controlled. 
 Transferred Assets: As defined in Section 2(a)(iii). 
 UCC: The Uniform Commercial Code in effect in all applicable jurisdictions. 
 (b)    The Designated Servicing Agreement Schedule, as may be amended, supplemented, restated, or otherwise modified from time to time in accordance with the Transaction Documents, is
incorporated by this reference into this Agreement. 
 Section 2.    Transfer of
Receivables. 
 (a)    Transferred Assets.  Commencing on the
Closing Date, and until the close of business on the Receivables Sale Termination Date, subject to the provisions of this Agreement, the Depositor hereby sells and/or contributes, assigns, transfers and conveys to the Issuer, and the Issuer acquires
from the Depositor without recourse except as provided herein, all of the Depositor’s right, title and interest, whether now owned or hereafter acquired, in, to and under (1) each Receivable in existence on the Closing Date that arose
under any Servicing Agreement that is listed as a “Designated Servicing Agreement” on the Designated Servicing Agreement Schedule as of the Closing Date (“Initial Receivables”), (2) each Receivable in existence
on any Business Day on or after the Closing Date and prior to the Receivables Sale Termination Date that arises with respect to any Servicing Agreement that is listed as a “Designated Servicing Agreement” on the Designated Servicing
Agreement Schedule as of the date such Receivable is created (“Additional Receivables”), (3) in the case of both Initial Receivables and Additional 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 UCC), together with all rights of the Depositor to enforce such Initial Receivables and Additional Receivables and (4) the Receivables Sale
Agreement in respect of such Initial Receivables and Additional Receivables (collectively, the “Transferred Assets”). Receivables for Deferred Servicing Fees that are ineligible for financing under the Indenture will not be
sold or transferred hereunder and shall not otherwise constitute “Receivables” for purposes hereof or any other Transaction Document. Until the Receivables Sale Termination Date, the Depositor shall, automatically and without any further
action on its part, sell and/or contribute, assign, transfer and convey to the Issuer, on each Business Day, each Additional Receivable not previously transferred to the Issuer and the Issuer shall purchase each such Additional Receivable together
with all of the other Transferred Assets related to such Receivable. 

  
 4 

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

(c)    Removal of Designated Servicing Agreements and Receivables.  On any date on
or after the satisfaction of all conditions specified in Section 2.1(c) of the Indenture, the Depositor may remove a Designated Servicing Agreement from the Designated Servicing Agreement Schedule (each such Servicing Agreement so removed, a
“Removed Servicing Agreement”). Upon the removal of a Designated Servicing Agreement from the Designated Servicing Agreement Schedule, (i) except if Nationstar conducts a Permitted Refinancing, all Receivables related to
Advances under such Removed Servicing Agreement previously transferred to the Issuer and Granted to the Indenture Trustee for inclusion in the Trust Estate, shall remain subject to the lien of the Indenture, in which case Nationstar may not assign
to another Person any Receivables arising under that Removed Servicing Agreement until all Receivables that arose under that Removed Servicing Agreement that are included in the Trust Estate shall have been paid in full or sold in a Permitted
Refinancing, and (ii) all Receivables related to such Removed Servicing Agreement arising on or after the date that the related Servicing Agreement was removed from the Designated Servicing Agreement Schedule (the “Stop
Date”) shall not be sold to the Issuer and shall not constitute Additional Receivables. 

(d)    Marking of Books and Records.  The Depositor shall, at its own expense, on or
prior to (i) the Closing Date, in the case of the Initial Receivables, and (ii) the applicable Sale Date, in the case of Additional Receivables, indicate in its books and records (including its computer records) that the Receivables
arising under each Designated Servicing Agreement and the related Transferred Assets have been sold and/or contributed, assigned, transferred and conveyed to the Issuer in accordance with this Agreement. The Depositor shall not alter the indication
referenced in this paragraph with respect to any Receivable during the term of this Agreement, (except in accordance with Section 10(b)). If a third party, including a potential purchaser of a Receivable, should inquire as to the status
of the Receivables, the Depositor shall promptly indicate to such third party that the Receivables have been sold and/or contributed, assigned, transferred and conveyed and the Depositor (except in accordance with Section 10(b)) shall
not claim any right, title or interest (including, but not limited to ownership interest) therein. 

  
 5 

 Section 3.    Depositor’s Acknowledgment
and Consent to Assignment. 
 The Depositor hereby acknowledges that the Issuer has Granted to the
Indenture Trustee, on behalf of the Noteholders, the rights (but not the obligations) of the Issuer under this Agreement, including, without limitation, the right to enforce the obligations of the Depositor hereunder, and the obligations of
Nationstar under the Receivables Sale Agreement. The Depositor hereby consents to such Grant by the Issuer to the Indenture Trustee pursuant to the Indenture. The Depositor acknowledges that the Indenture Trustee (on behalf of itself, the
Noteholders, any Supplemental Credit Enhancement Provider and any Liquidity Provider) shall be a third party beneficiary in respect of the representations, warranties, covenants, rights, indemnities and other benefits arising hereunder that are so
Granted by the Issuer. Moreover, the Depositor hereby authorizes and appoints as its attorney-in-fact the Issuer and the Indenture Trustee, as the Issuer’s assignee, on behalf of the Issuer, to execute and deliver such documents or certificates
as may be necessary in order to enforce its rights under this Agreement and its rights to collect the Aggregate Receivables. 
 Section 4.    Representations, Warranties and Certain Covenants of Depositor. 

The Depositor hereby makes the following representations and warranties for the benefit of the Issuer, the Indenture
Trustee and the Noteholders, on which the Issuer is relying in purchasing the Aggregate Receivables and executing this Agreement, and on which the Noteholders are relying in purchasing the Notes. The representations are made as of the date of this
Agreement, and as of each Sale Date. Such representations and warranties shall survive the sale and/or contribution, assignment, transfer and conveyance of any Receivables to the Issuer. 

 

	 	(a)	 General Representations, Warranties and Covenants. 

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

(ii)    Due Qualification.  The Depositor is and will continue to be
duly qualified to do business as a limited liability company in good standing, and has obtained and will keep in full force and effect all necessary licenses, permits and approvals, in all jurisdictions in which the ownership or lease of property or
the conduct of its business shall require such qualifications, licenses, permits or approvals and as to which the failure to obtain or to keep in full force and effect such licenses, permits or approvals would have a material and adverse impact upon
the value or collectability of the Receivables and such failure cannot be subsequently cured for the purposes of enforcing contracts. 
 (iii)    Power and Authority.  The Depositor has and will continue to have all requisite limited liability company power and authority to own the Receivables, and the
Depositor has and will continue to have all requisite limited liability company power and 

  
 6 

 
authority to execute and deliver this Agreement, the initial Designated Servicing Agreement Schedule and each subsequent Designated Servicing Agreement Schedule, each other Transaction Document
to which it is a party and any and all other instruments and documents necessary to consummate the transactions contemplated hereby or thereby (collectively, the “Depositor’s Related Documents”), and to perform each of
its obligations under this Agreement and under the Depositor’s Related Documents, and to consummate the transactions contemplated hereby and thereby. The execution and delivery of this Agreement by the Depositor, and the execution and delivery
of each of the Depositor’s Related Documents by the Depositor, the performance by the Depositor of its obligations hereunder and thereunder, and the consummation of the transactions contemplated hereby and thereby have each been duly authorized
by the Depositor and no further limited liability company action or other actions are required to be taken by the Depositor in connection therewith. 

(iv)    Valid Transfer.  Upon the execution and delivery of this
Agreement, each Assignment of Receivables and the Designated Servicing Agreement Schedule by each of the parties hereto, this Agreement shall evidence a valid sale and/or contribution, transfer, assignment and conveyance of the Additional
Receivables as of the applicable Sale Date to the Issuer, which is enforceable against creditors of and purchasers from the Depositor, except as such enforceability may be limited by bankruptcy, insolvency or similar laws and by equitable
principles. 
 (v)    Binding Obligation.  This Agreement
and each of the other Transaction Documents to which the Depositor is a party has been, or when delivered will have been, duly executed and delivered and constitutes the legal, valid and binding obligation of the Depositor, enforceable against the
Depositor, in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency or similar laws and by equitable principles. 

(vi)    Good Title.  Immediately prior to each Purchase of
Receivables hereunder, the Depositor is the legal and beneficial owner of each such Receivable and the related Transferred Assets with respect thereto, free and clear of any Adverse Claims other than Permitted Liens; and immediately upon the
transfer and assignment thereof, the Issuer and its assignees will have good and marketable title to, with the right to sell and encumber, each Receivable, whether now existing or hereafter arising, together with the related Transferred Assets with
respect thereto, free and clear of any Adverse Claims other than Permitted Liens. 

(vii)    Perfection. 

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

  
 7 

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

(viii)    No Violation.  Neither the execution, delivery and
performance of this Agreement, the other Transaction Documents or the Depositor’s Related Documents by the Depositor nor the consummation by the Depositor of the transactions contemplated hereby or thereby nor the fulfillment of or compliance
with the terms and conditions of this Agreement, the Depositor’s Related Documents or the other Transaction Documents to which the Depositor is a party (A) will violate the organizational documents of the Depositor, (B) will
constitute a default (or an event which, with notice or lapse of time or both, would constitute a default), or result in a breach or acceleration of, any material indenture, agreement or other material instrument to which the Depositor or any of its
Affiliates is a party or by which it or any of them is bound, or which may be applicable to the Depositor, (C) constitutes a default (whether with notice or lapse of time or both), or results in the creation or imposition of any Adverse Claim
upon any of the property or assets of the Depositor under the terms of any of the foregoing, or (D) violates any statute, ordinance or law or any rule, regulation, order, writ, injunction or decree of any court or of any public, governmental or
regulatory body, agency or authority applicable to the Depositor or its properties. 

(ix)    No Proceedings.  There is no action, suit or proceeding
before or by any court or governmental agency or body, domestic or foreign, now pending, or to the Depositor’s knowledge, threatened, or against the Depositor (A) in which a third party not affiliated with the Indenture Trustee or a
Noteholder asserts the invalidity of any of the Transaction Documents, (B) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by any of the Transaction Documents, (C) seeking any
determination or ruling that should reasonably be expected to affect materially and adversely the performance by the Depositor or its Affiliates of their obligations under, or the validity or enforceability of, any of the Transaction Documents or
(D) relating to the Depositor or its Affiliates and which should reasonably be expected to affect adversely the federal income tax attributes of the Notes. 

  
 8 

 (x)    Ownership of
Issuer.  100% of the Owner Trust Certificate of the Issuer is owned by the Depositor. No Person other than the Depositor has any rights to acquire all or any portion of the Owner Trust Certificate in the Issuer. 

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

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

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

  
 9 

 (xix)    Special Purpose
Entity. The Depositor is operated as an entity separate from Nationstar. In addition, the Depositor: 
 (A)    maintains and will continue to maintain its assets separate and distinct from those of Nationstar and any Affiliates of Nationstar in a manner which facilitates their
identification and segregation from those of Nationstar; 
 (B)    conducts
and will continue to conduct all intercompany transactions with Nationstar or any Affiliate of Nationstar on an arm’s-length basis; 
 (C)    has not guaranteed and will not guarantee any obligation of Nationstar or any of Nationstar’s Affiliates, nor has it had or will it have any of its obligations guaranteed
by any such entities and has not held and will not hold itself out as responsible for debts of any such entity or for the decisions or actions with respect to the business affairs of any such entity; 

(D)    has not permitted and will not permit the commingling or pooling of its funds
or other assets with the assets of Nationstar or any Affiliate of Nationstar (other than in respect of items of payment and funds which may be commingled until deposit into the Trust Accounts); 

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

(F)    maintains and will continue to maintain financial records which are separate
from those of Nationstar or any of its Affiliates; 
 (G)    compensates
and will continue to compensate all employees, consultants and agents, if any, or reimburses Nationstar from its own funds, for services provided to it by such employees, consultants and agents, and, to the extent any employee, consultant or agent
of it is also an employee, consultant or agent of Nationstar allocate the compensation of such employee, consultant or agent between it and Nationstar as agreed to between them on an arm’s length basis; 

(H)     conducts and will continue to conduct all of its business (whether in
writing or orally) solely in its own name and on its own stationery and pays and will continue to pay its own expenses, makes and will make all communications to third parties (including all invoices (if any), letters, checks and other instruments)
solely in its own name (and not as a division of any other Person), and requires and will require that its employees, if any, when conducting its business identify themselves as such (including, without limitation, by means of providing appropriate
employees with business or identification cards identifying such employees as its employees); 

  
 10 

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

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

(K)    does not and will not act as agent for Nationstar or any Affiliate of
Nationstar and agrees that it will not authorize Nationstar or any Affiliate of Nationstar to act as its agent; 
 (L)    pays and will continue to pay its own incidental administrative costs and expenses from its own funds, allocates and will continue to allocate all other shared overhead expenses
(including, without limitation, telephone and other utility charges, the services of shared employees, consultants and agents, and reasonable legal and auditing expenses), and other items of cost and expense shared between it and Nationstar, as
agreed to between them on an arm’s length basis; and 
 (M)    takes
and shall continue to take such actions as are necessary on its part to ensure that all procedures required by its organizational documents are duly and validly taken. 

(b)    Survival.  It its understood and agreed that the representations and
warranties of the Depositor set forth in Section 4(a) shall continue throughout the term of this Agreement. 
 (c)    It is understood and agreed that the (1) representations and warranties made by Nationstar pursuant to Section 4(b) of the Receivables Sale Agreement, and the
representations and warranties made by the Depositor pursuant to this Agreement, on which the Issuer is relying in accepting the Receivables and executing this Agreement and on which the Noteholders are relying in purchasing the Notes, and
(2) the rights and remedies of the Depositor and its assignees under the Receivables Sale Agreement against Nationstar, and the rights and remedies of the Issuer and its assignees under this Agreement against the Depositor, inure to the benefit
of the Issuer and the Indenture Trustee for the benefit of the Noteholders, as the assignees of the Depositor’s rights under the Receivables Sale Agreement and the Issuer’s rights hereunder. Such representations and warranties, and the
rights and remedies for the breach thereof, shall survive the sale and/or contribution, assignment, transfer and conveyance of any Receivables from the Depositor to the Issuer and its assignees and the pledge thereof by the Issuer to the Indenture
Trustee for the benefit of the Noteholders and shall be fully exercisable by the Indenture Trustee for the benefit of the Noteholders. 
 Section 5.    Remedies Upon Breach 
 The Depositor shall inform the Indenture Trustee, the Administrator and the Administrative Agent promptly, in writing, upon the discovery of any breach of the Depositor’s representations, warranties
or covenants hereunder, or Nationstar’s representations, warranties or covenants under the Receivables Sale Agreement. Unless such breach shall have been cured or 

  
 11 

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

Section 6.    Termination. 

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

Section 7.    General Covenants of Depositor. 

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

 (a)    Reserved. 

(b)    Bankruptcy.  The Depositor agrees that it shall comply with
Section 12(k). The Depositor has not engaged in and does not expect to engage in a business for which its remaining property represents an unreasonably small capitalization. The Depositor will not transfer any of the Aggregate
Receivables with an intent to hinder, delay or defraud any Person. 
 (c)    Legal
Existence.  The Depositor shall do or cause to be done all things necessary on its part to preserve and keep in full force and effect its existence in the jurisdiction of its formation, and to maintain each of its licenses, approvals,
registrations and qualifications in all jurisdictions in which its ownership or lease of property or the conduct of its business requires such licenses, approvals, registrations or qualifications, except for failures to maintain any such licenses,
approvals, registrations or qualifications which cannot be subsequently cured for the purpose of enforcing contracts and which, individually or in the aggregate, would not reasonably be expected to have a material adverse effect on the financial
conditions, operations or the ability of the Depositor or the Issuer to perform its obligations hereunder or under any of the other Transaction Documents. 

  
 12 

 (d)    Compliance With Laws.  The
Depositor shall comply in all material respects with all laws, rules, regulations and orders of any governmental authority applicable to its operation, the noncompliance with which would reasonably be expected to have a material adverse effect on
the financial condition, operations or the ability of Nationstar, as receivables seller and servicer, the Depositor or the Issuer to perform their obligations hereunder or under any of the other Transaction Documents. 

(e)    Taxes.  The Depositor shall pay and discharge all taxes, assessments and
governmental charges or levies imposed upon the Depositor or upon its income and profits, or upon any of its property or any part thereof, before the same shall become in default; provided that the Depositor shall not be required to pay and
discharge any such tax, assessment, charge or levy so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings, or so long as the failure to pay any such tax, assessment, charge or levy would not have a
material adverse effect on the ability of the Depositor to perform its obligations hereunder. The Depositor shall have set aside on its books adequate reserves with respect to any such tax, assessment, charge or levy so contested. 

(f)    Compliance with Representations and Warranties.  The Depositor covenants that
it shall conduct its business such that it will continually comply with all of its representations and warranties made in Section 4(a). 
 (g)    Keeping of Records and Books of Account.  The Depositor shall maintain accurate, complete and correct documents, books, records and other information which is
reasonably necessary for the collection of all Aggregate Receivables (including, without limitation, records adequate to permit the prompt identification of each new Receivable and all collections of, and adjustments to, each existing Receivable).

 (h)    Ownership.  The Depositor will take all necessary action to
establish and maintain, irrevocably in the Issuer, legal and equitable title to the Aggregate Receivables and the related Transferred Assets, free and clear of any Adverse Claim (including, without limitation, the filing of all financing statements
or other similar instruments or documents necessary under the UCC (or any comparable law) in all appropriate jurisdictions to perfect the Issuer’s interest in such Aggregate Receivables and related Transferred Assets and such other action to
perfect, protect or more fully evidence the interest of the Issuer or the Indenture Trustee (as the Depositor’s assignee) may reasonably request). 
 (i)    Reliance on Separateness.  The Depositor acknowledges that the Indenture Trustee and the Noteholders are entering into the transactions contemplated by the
Transaction Documents in reliance upon the Depositor’s and Issuer’s identity as a legal entity that is separate from Nationstar. Therefore, from and after the date of execution and delivery of this Agreement, the Depositor will take all
reasonable steps to maintain each of the Depositor’s and Issuer’s identity as a separate legal entity and to make it manifest to third parties that each of the Depositor and the Issuer is an entity with assets and liabilities distinct from
those of Nationstar. Without limiting the generality of the foregoing and in addition to the other covenants set forth herein, the Depositor (i) will not hold itself out to third parties as liable for the debts of the Issuer nor purport to own
the Aggregate Receivables and other related Transferred Assets, (ii) will take all other actions necessary on its part to ensure that the facts and assumptions regarding it set forth in the opinion issued by Sidley Austin LLP, dated as of the
Closing Date, relating to substantive consolidation issues remain true and correct at all times. 

  
 13 

 (j)    Name Change, Offices and
Records.  In the event the Depositor makes any change to its name (within the meaning of Section 9-507(c) of any applicable enactment of the UCC), type or jurisdiction of organization or location of its books and records the
Depositor shall notify the Issuer and the Indenture Trustee thereof and (except with respect to a change of location of books and records) shall deliver to the Indenture Trustee not later than thirty (30) days after the effectiveness of such
change (i) such financing statements (Forms UCC1 and UCC3) which the Indenture Trustee (acting at the direction of the Administrative Agent) may reasonably request to reflect such name change, or change in type or jurisdiction of organization,
(ii) if the Indenture Trustee shall so request, an opinion of outside counsel to the Depositor, in form and substance reasonably satisfactory to the Indenture Trustee, as to the perfection and priority of the Issuer’s security interest in
the Aggregate Receivables in such event, (iii) such other documents and instruments that the Indenture Trustee on behalf of the Noteholders (acting at the direction of the Administrative Agent) may reasonably request in connection therewith and
shall take all other steps to ensure that the Issuer continues to have a first priority, perfected security interest in the Aggregate Receivables and the related Transferred Assets. 

(k)    Location of Jurisdiction of Organization and Records.  In the case of a
change in the jurisdiction of organization of the Depositor, or in the case of a change in the “location” of the Depositor for purposes of Section 9-307 of the UCC, the Depositor must take all actions necessary or reasonably requested
by the Issuer, the Administrative Agent or the Indenture Trustee to amend its existing financing statements and continuation statements, and file additional financing statements and to take any other steps reasonably requested by the Issuer, the
Administrative Agent or the Indenture Trustee to further perfect or evidence the rights, claims or security interests of any of the Issuer or any assignee or beneficiary of the Issuer’s rights under this Agreement, including the Indenture
Trustee on behalf of the Noteholders under any of the Transaction Documents. 

Section 8.    Grant Clause. 

It is the intention of the parties hereto that each transfer and assignment contemplated by this Agreement shall
constitute an absolute sale or contribution, as applicable, of the related Receivables from the Depositor to the Issuer and that the Aggregate Receivables shall not be part of Depositor’s estate or otherwise be considered property of the
Depositor in the event of the bankruptcy, receivership, insolvency, liquidation, conservatorship or similar proceeding relating to the Depositor or any of its Property. However, if such conveyance is deemed to be in respect of a loan, it is intended
that: (a) the rights and obligations of the parties shall be established pursuant to the terms of this Agreement; (b) the Depositor hereby grants to the Issuer a first priority security interest in all of the Depositor’s right, title
and interest in, to and under, whether now owned or hereafter acquired, the Aggregate Receivables and the other Transferred Assets to secure payment of such loan; and (c) this Agreement shall constitute a security agreement under applicable
law. The Depositor will, to the extent consistent with this Agreement, take such reasonable actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in the Aggregate Receivables and the other
Transferred Assets, such security 

  
 14 

 
interest would be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of this Agreement. The Depositor will, at its own
expense, make all initial filings on or about the Original Closing Date and shall forward a copy of such filing or filings to the Indenture Trustee. 
 The Depositor hereby authorizes the Issuer and its assignees, successors and designees to file one or more UCC financing statements, financing statement amendments and continuation statements to perfect
the security interest described herein. 
 Section 9.    Grant by Issuer.

 The Issuer shall have the right, upon notice to but without the consent of the Depositor, to Grant, in
whole or in part, its interest under this Agreement with respect to the Receivables to the Indenture Trustee and the Indenture Trustee then shall succeed to all rights of the Issuer under this Agreement. All references to the Issuer in this
Agreement shall be deemed to include its assignee or designee, specifically including the Issuer and the Indenture Trustee. 
 Section 10.    Protection of Indenture Trustee’s Security Interest in Trust Estate. 

(a)    The Depositor shall maintain accounts and records as to each Receivable accurately and in
sufficient detail to permit the reader thereof to know at any time following reasonable prior notice delivered to the Depositor, the status of such Receivable, including payments and recoveries made and payments owing. The Schedule of Receivables
has been delivered to the Indenture Trustee and shall remain in its possession or control. 

(b)    The Depositor will maintain its computer records so that, from and after the Grant of the
security interest under the Indenture, the Depositor’s master computer records (including any back-up archives) that refer to any Receivables indicate that the Receivables are owned by the Issuer and pledged to the Indenture Trustee on behalf
of the Noteholders. Indication of the Indenture Trustee’s interest in a Receivable shall be deleted from or modified on the Depositor’s records when, and only when, the Receivable has been paid in full or released from the lien of the
Indenture pursuant to the Indenture. 
 Section 11.    Limited Recourse.

 No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer under
this Agreement or any certificate or other writing delivered in connection herewith or therewith, against (a) any owner of a beneficial interest in the Issuer or (b) any holder of a beneficial interest in the Issuer in its individual
capacity, except as any such Person may have expressly agreed. Notwithstanding any other terms of this Agreement, the Notes, any other Transaction Documents or otherwise, the obligations of the Issuer under the Notes, the Indenture, this Agreement
and each other Transaction Document to which it is a party are limited recourse obligations of the Issuer, payable solely from the Trust Estate, and following realization of the Trust Estate and application of the proceeds thereof in accordance with
the terms of the Indenture, none of the Noteholders, the Indenture Trustee or any of the other parties to the Transaction Documents shall be entitled to take any further steps to recover any sums due but still unpaid hereunder or thereunder, all
claims in respect of which shall be extinguished and shall not thereafter revive. No recourse shall be had for the payment of any amount owing in 

  
 15 

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

 Section 12.    Miscellaneous. 

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

(d)     [Reserved.] 

(e)    Severability of Provisions.  Any provision of this Agreement which is
prohibited, unenforceable or not authorized in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition, unenforceability or non-authorization without invalidating the remaining provisions hereof or affecting
the validity, enforceability or legality of such provision in any other jurisdiction. 

  
 16 

 (f)    Governing Law.  THIS
AGREEMENT AND ANY CLAIM CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO OR IN CONNECTION WITH THIS AGREEMENT, THE RELATIONSHIP OF THE PARTIES HERETO, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES HERETO SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

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

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

(j)    Headings Not to Affect Interpretation.  The headings contained in this
Agreement are for convenience of reference only, and they shall not be used in the interpretation hereof. 

(k)    Benefits of Agreement.  Nothing in this Agreement, express or implied, shall
give to any Person, other than the parties to this Agreement and their successors hereunder, any benefit of any legal or equitable right, power, remedy or claim under this Agreement. 

(l)    No Petition.  The Depositor, by entering into this Agreement, agrees that it
will not at any time prior to the date which is one year and one day, or, if longer, the applicable preference period then in effect, after the payment in full of all of the Notes, institute against the Issuer, or join in any institution against the
Issuer of, Insolvency Proceedings or other similar proceedings, or other proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to the Notes or this Agreement, or cause the Issuer
to commence any reorganization, bankruptcy proceedings, or Insolvency Proceedings under any applicable state or federal law, including without limitation any readjustment of debt, or marshaling of assets or liabilities or similar proceedings. This
Section 12(l) shall survive termination of this Agreement. 

  
 17 

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

[Signature Pages Follow] 

  
 18 

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

			
	 NATIONSTAR ADVANCE FUNDING III LLC, as 

Depositor

		
	 By:
	 	 /s/ Amar Patel

	 Name: Amar Patel

	 Title: Executive Vice President

 [Nationstar Mortgage Advance Receivables Trust - Signature Page to Receivables Pooling Agreement]

 
			
	NATIONSTAR MORTGAGE ADVANCE RECEIVABLES TRUST, as Issuer
	By: Wilmington Trust, National Association not in its individual capacity but solely as Owner Trustee
		
	By:	 	 /s/ Rachel L. Simpson

		
	Name:	 	Rachel L. Simpson
		
	Title:	 	Assistant Vice President

 [Nationstar Mortgage Advance Receivables Trust - Signature Page to Receivables Pooling Agreement]

 Schedule 1 

ASSIGNMENT OF RECEIVABLES 
 Dated as of June 7, 2013 
 This Assignment of Receivables
(this “Assignment”) is a schedule to and is hereby incorporated by this reference into a certain Receivables Pooling Agreement (the “Agreement”), dated as of June 7, 2013, by and between
Nationstar Advance Funding III LLC, a Delaware limited liability company (the “Depositor”), and Nationstar Mortgage Advance Receivables Trust, a statutory trust formed under the laws of the State of Delaware (the
“Issuer”). All capitalized terms used herein shall have the meanings set forth in, or referred to in, the Agreement. 
 By its signature to this Assignment, the Depositor hereby sells and/or contributes, assigns, transfers and conveys to the Issuer and its assignees, without recourse, but subject to the terms of the
Agreement, all of the Depositor’s right, title and interest in, to and under its rights to reimbursement for Receivables arising under each Designated Servicing Agreement listed on Attachment A attached hereto, existing on the date
of this Assignment and any Additional Receivables arising under each Designated Servicing Agreement listed on Attachment A, on or before the related Receivables Sale Termination Date, the other Transferred Assets related to such Receivables
described in Section 2(a) of the Agreement, pursuant to the terms of the Agreement, and the Issuer hereby accepts such sale and/or contribution, assignment, transfer and conveyance and agrees to transfer to the Depositor the
consideration set forth in the Agreement. 
 [Signature page follows] 

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

		
	Name:	 	 
	Title:	 	 

 [Nationstar Mortgage Advance Receivables Trust - Signature Page to Schedule 1 to Receivables
Pooling Agreement - Assignment of Receivables] 

 Attachment A to Schedule 1 

DESIGNATED SERVICING AGREEMENTS RELATED TO AGGREGATE RECEIVABLES 

  
 Attachment A
to Schedule 1-1

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