Document:

EX-10.49

 Exhibit 10.49 

[***] Confidential portions of this document have been redacted and filed separately with the Commission. 

 
  

 
 AMENDED AND RESTATED MASTER REPURCHASE
AGREEMENT 
 AND SECURITIES CONTRACT 

BETWEEN 
 Wells Fargo Bank, N.A.,
as buyer (“Buyer”) 
 The Sellers identified on the Addendum, as seller (“Seller”) 

The Guarantors, if identified on the Addendum, as guarantor (“Guarantor”) 

Dated as of the Restatement Date set forth in the Addendum 
  

 
  

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
	 1.
	 	Applicability	  	 	1	  
	 2.
	 	Definitions	  	 	1	  
	 3.
	 	Program; Initiation of Transactions	  	 	25	  
	 4.
	 	Repurchase	  	 	27	  
	 5.
	 	[Reserved.]	  	 	27	  
	 6.
	 	Margin Maintenance	  	 	27	  
	 7.
	 	Income Payments	  	 	29	  
	 8.
	 	Payment and Transfer	  	 	30	  
	 9.
	 	Conditions Precedent	  	 	30	  
	 10.
	 	Program; Costs	  	 	34	  
	 11.
	 	Servicing	  	 	35	  
	 12.
	 	Representations and Warranties	  	 	37	  
	 13.
	 	Covenants	  	 	42	  
	 14.
	 	Events of Default	  	 	47	  
	 15.
	 	Remedies Upon Default	  	 	50	  
	 16.
	 	Reports	  	 	52	  
	 17.
	 	Buyer’s Policies and Procedures Manual	  	 	55	  
	 18.
	 	Repurchase Transactions	  	 	55	  
	 19.
	 	Custodial Responsibilities	  	 	55	  
	 20.
	 	Single Agreement	  	 	56	  
	 21.
	 	Notices and Other Communications	  	 	56	  
	 22.
	 	Entire Agreement; Severability	  	 	57	  
	 23.
	 	Non-assignability	  	 	57	  
	 24.
	 	Set-off	  	 	57	  
	 25.
	 	Binding Effect; Governing Law; Jurisdiction	  	 	58	  
	 26.
	 	No Waivers, Etc.	  	 	59	  
	 27.
	 	Intent	  	 	59	  
	 28.
	 	Power of Attorney	  	 	59	  
	 29.
	 	Buyer May Act Through Affiliates	  	 	60	  
	 30.
	 	Indemnification; Obligations	  	 	60	  
	 31.
	 	Counterparts	  	 	60	  
	 32.
	 	Confidentiality	  	 	61	  
	 33.
	 	Recording of Communications	  	 	61	  
	 34.
	 	Periodic Due Diligence Review	  	 	61	  
	 35.
	 	Authorizations	  	 	62	  
	 36.
	 	Documents Mutually Drafted	  	 	62	  
	 37.
	 	Joint and Several	  	 	62	  
	 38.
	 	Security Interest	  	 	62	  
	 39.
	 	Agency Security Takeout	  	 	63	  
	 40.
	 	Physical Possession of Records and Files relating to the Purchased Assets	  	 	64	  

  
 -i- 

			
	ANNEXES	  	
		
	Annex A	  	Financial Covenants
		
	SCHEDULES	  	
		
	Schedule 1	  	Representations and Warranties with Respect to Purchased Mortgage Loans
		
	EXHIBITS	  	
		
	Exhibit A	  	Officer’s Compliance Certificate
		
	Exhibit B	  	Certificate of an Officer of the Seller, including a Form of Resolutions
		
	Exhibit C	  	Form of Power of Attorney
		
	Exhibit D	  	Form of Guaranty
		
	Exhibit E	  	Form of Incumbency Certificate
		
	Exhibit F	  	Form of Servicer Side Letter

  
 -ii- 

 This Amended and Restated Master Repurchase Agreement and Securities Contract amends and
restates in its entirety that certain Master Repurchase Agreement, dated as of the Effective Date, by and among Buyer, the Seller identified on the Addendum and the Guarantor identified on the Addendum (as amended, supplemented or otherwise modified
through the date hereof, the “Original Agreement”).  
 1. Applicability 

From time to time the parties hereto may enter into transactions in which Seller agrees to sell all right, title and interest (including,
without limitation, the Servicing Rights (as hereinafter defined)) in and to the Mortgage Loans and, if applicable, Agency Securities (each as hereinafter defined) to Buyer in exchange for the transfer of funds by Buyer to Seller, with a
simultaneous agreement by Buyer to transfer to Seller such Mortgage Loans and Agency Securities (if applicable) at a date certain or on demand, in exchange for the transfer of funds by Seller to Buyer. Each such transaction shall be referred to
herein as a “Transaction” and, unless otherwise agreed in writing, shall be governed by this Agreement. All sales of Mortgage Loans from Seller to Buyer will be on a servicing-released basis. In addition, the Guarantor agrees to
provide the Guaranty (as hereinafter defined) guarantying certain obligations of the Seller. 
 2. Definitions 

a. Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires, shall have the following meanings:

 “1934 Act” means the Securities Exchange Act of 1934, as amended from time to time. 

“Acceptable State” means any state, commonwealth, or federal district acceptable to Buyer in which the Seller is licensed to
originate Mortgage Loans. 
 “Accepted Servicing Practices” means, with respect to any Mortgage Loan, those mortgage
servicing practices of prudent mortgage lending institutions which service mortgage loans of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located, and, with respect to any Mortgage Loan other than a
Government Mortgage Loan, serviced in accordance with Fannie Mae servicing practices and procedures, as defined in the Fannie Mae servicing guidelines (as may be amended or updated from time to time) and, with respect to Government Mortgage Loans,
in accordance with HUD servicing guidelines, and in each case, as set forth in this Agreement and the Manual. 
 “Accounts
Receivable Rate” means the interest rate set forth on the Addendum for such term. 
 “Act of Insolvency” means,
with respect to any Person or its Affiliates, (i) the filing of a petition, commencing, or authorizing the commencement of any case or proceeding, or the voluntary joining of any case or proceeding under any bankruptcy, insolvency,
reorganization, liquidation, dissolution or similar law relating to the protection of creditors, or suffering any such petition or proceeding to be commenced by another which is consented to, not timely contested or results in entry of an order for
relief; (ii) the seeking of the appointment of a 

 
receiver, trustee, custodian or similar official for such party or an Affiliate or any substantial part of the property of either; (iii) the appointment of a receiver, conservator, or
manager for such party or an Affiliate by any governmental agency or authority having the jurisdiction to do so; (iv) the making or offering by such party or an Affiliate of a composition with its creditors or a general assignment for the
benefit of creditors; (v) the admission by such party or an Affiliate of such party of its inability to pay its debts or discharge its obligations as they become due or mature; or (vi) that any governmental authority or agency or any
person, agency or entity acting or purporting to act under governmental authority shall have taken any action to condemn, seize or appropriate, or to assume custody or control of, all or any substantial part of the property of such party or of any
of its Affiliates, or shall have taken any action to displace the management of such party or of any of its Affiliates or to curtail its authority in the conduct of the business of such party or of any of its Affiliates. 

“Addendum” means that certain Amended and Restated Addendum hereto entered into contemporaneously with this Agreement, dated
as of the Restatement Date, among the Buyer, the Seller and the Guarantor, as may be amended or restated from time to time. 

“Additional Covenants and Conditions” means the “Other Covenants and Conditions” and the “Financial
Covenants” (to the extent that such covenants are not already specifically set forth in this Agreement), as set forth in the Addendum. 

“Affiliate” means, with respect to any Person, any “affiliate” of such Person, as such term is defined in the
Bankruptcy Code; provided however, except as otherwise set forth in this Agreement, that the term “Affiliate” shall not include any joint venture between the Seller and another party for the origination of Mortgage Loans if the
Seller’s share of such joint venture does not exceed 50%. 
 “Agency” means Ginnie Mae, Freddie Mac or Fannie Mae, as
applicable. 
 “Agency Custodian” means the custodian designated in (i) the Master Ginnie Mae Custodial Agreement,
(ii) the Master Fannie Mae Custodial Agreement or (iii) the Master Freddie Mac Custodial Agreement, as applicable, which will be Wells Fargo Bank, N.A. or any other Agency Custodian approved by Buyer in its sole discretion as set forth in
the Addendum. 
 “Agency Document Custodian Manual” means, collectively, (i) the Ginnie Mae Mortgage-Backed Securities
Program Document Custodian Manual as found in Appendix V-1 of the Ginnie Mae Guide, (ii) the Fannie Mae Requirements for Document Custodians or (iii) the Freddie Mac Document Custody Procedures Handbook, as applicable. 

“Agency Security” means a Ginnie Mae Security, a Fannie Mae Security or a Freddie Mac Security, as applicable, and, in each
case, is backed by one-to-four-family residential mortgage loans. 
 “Agency Security Margin” means the margin set forth in
the Sublimit, Rate and Term Schedule of the Addendum for such term; provided, however, that upon the occurrence of an Event of Default, the Agency Security Margin shall automatically be increased by the Post Default Rate Margin, even
if the Buyer forebears exercising any of its rights and remedies as a result of such Event of Default. 

  
 2 

 “Agency Security Purchase Commitment” means a written commitment, in form and
substance satisfactory to Buyer, issued in favor of Seller by a Takeout Broker Dealer pursuant to which that Takeout Broker Dealer commits to purchase one or more Agency Securities. 

“Agency Security Purchase Price” means, in the case of any Purchased Agency Security, (a) as of the Purchase Date for
such Purchased Agency Security, an amount equal to the lesser of the amount requested by the Seller or the product of the Purchase Price Percentage for such Purchased Agency Security times the lesser of (i) the Market Value of such Purchased
Agency Security, (ii) the unpaid principal balance of the underlying Purchased Mortgage Loans pooled in the Purchased Agency Security or (iii) the amount set forth on the Agency Security Purchase Commitment with respect to such Purchased
Agency Security, and (b) as of any other date, the amount calculated on the Purchase Date in the preceding clause (a), (i) reduced by any amount of Margin Deficit transferred by Seller to Buyer pursuant to Section 6 and applied
to the Agency Security Purchase Price of such Purchased Agency Security, (ii) reduced by any Principal Payments remitted to the Collection Account and which were applied to the Agency Security Purchase Price of such Purchased Agency Security by
Buyer pursuant to clause first of Section 7(b) and (iii) reduced by any payments made by Seller in reduction of the outstanding Agency Security Purchase Price, in each case before or as of such determination date with
respect to such Purchased Agency Security. 
 “Agency Security Sublimit” means the amount set forth on the Addendum for
such term. 
 “Aggregate Claim Threshold” means the amount set forth on the Addendum for such term. 

“Aggregate Purchase Price” means the sum of (i) the Purchase Price of all Purchased Mortgage Loans subject to
outstanding Transactions and (ii) the Purchase Price of all Purchased Agency Securities subject to outstanding Transactions. 

“Agreement” means, collectively, this Master Repurchase Agreement and Securities Contract, the Addendum, and each Schedule
and Exhibit hereto and thereto, as such agreement may be amended, supplemented or otherwise modified from time to time. 

“Anti–Terrorism Laws” means, any Requirements of Law relating to money laundering or terrorism, including Executive
Order 13224 signed into law on September 23, 2001, the regulations promulgated by OFAC, and the Patriot Act. 
 “Appraised
Value” means the value set forth in an appraisal made in connection with the origination of the related Mortgage Loan as the value of the Mortgaged Property. 

“Asset Tape” means a remittance report containing servicing information, including, without limitation, those fields
reasonably requested by Buyer from time to time, on a loan-by-loan basis and in the aggregate, with respect to the Purchased Mortgage Loans serviced by Seller or any Servicer for the immediately prior month or months, as applicable (or any portion
thereof). 

  
 3 

 “Assignment of Mortgage” means an assignment of the Mortgage, notice of transfer
or equivalent instrument in recordable form, sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect the sale of the Mortgage to Buyer. 

“Authorized Funds Recipient” means the entity approved by Buyer, in its sole good faith discretion, which may be a title
company, escrow company or attorney in accordance with local law and practice in the jurisdiction where the related Mortgage Loan is being originated, or in the case of a Correspondent Mortgage Loan, any warehouse bank or correspondent which has
been approved by Buyer, which may receive funds on behalf of Seller. Any transfer by Buyer to an Authorized Funds Recipient shall be considered a transfer of funds by Buyer to Seller. 

“Bankruptcy Code” means the United States Bankruptcy Code of 1978, as amended from time to time. 

“Business Day” means any day other than (A) a Saturday or Sunday and (B) a public or bank holiday in New York City
during which financial institutions are authorized or required to close. 
 “Buyer” has the meaning set forth on the first
page of this Agreement. 
 “Capital Lease Obligations” means, for any Person, all obligations of such Person to pay rent or
other amounts under a lease of (or other agreement conveying the right to use) Property to the extent such obligations are required to be classified and accounted for as a capital lease on a balance sheet of such Person under GAAP, and, for purposes
of this Agreement, the amount of such obligations shall be the capitalized amount thereof, determined in accordance with GAAP. 

“Change in Control” means: 

(A) the sale, transfer, or other disposition of all or an amount equivalent to twenty-five percent (25%) or more of any Seller’s or
any Guarantor’s assets (excluding any such action taken in connection with any securitization or whole loan transaction); or, if applicable, the sale, transfer, or other disposition of all or an amount equivalent to 25% or more of the
Manager’s, General Partner’s or Limited Partner’s assets (excluding any such action taken in connection with any securitization or whole loan transaction); or 

(B) the consummation of a merger or consolidation of Seller or Guarantor (or, if applicable, the Manager, General Partner or Limited
Partner) with or into another entity or any other corporate reorganization, if more than 25% of the combined voting power of the continuing or surviving entity’s stock outstanding immediately after such merger, consolidation or such other
reorganization is owned by Persons who were not stockholders of Seller or Guarantor (or, if applicable, the Manager, General Partner or Limited Partner) immediately prior to such merger, consolidation or other reorganization. 

Notwithstanding the foregoing, an initial public offering of equity interests of Seller shall not constitute a “Change in Control.”

  
 4 

 “Closing Instruction Letter” means the Closing Instruction Letter from Seller to
the Authorized Funds Recipient, in a form substantially similar to the form provided in the Manual, as the same may be modified, supplemented and in effect from time to time. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Collateral Documents” means the documents in the Mortgage File delivered to the Custodian. 

“Collection Account” means one or more accounts identified on the Addendum and established by or on behalf of the Servicer or
Seller for the benefit of Buyer or assigned to the Buyer, into which all collections and proceeds on or in respect of the Purchased Assets shall be deposited by Servicer or Seller and subject to a Collection Account Control Agreement. 

“Collection Account Control Agreement” means a blocked account agreement providing the Buyer with control at all times over
the Collection Account. 
 “Combined Loan-to-Value Ratio” or “CLTV” means with respect to any Mortgage
Loan, the ratio of (i)(a) the original outstanding principal amount of the Mortgage Loan, plus (b) the unpaid principal balance of any related subordinate mortgage loan or loans secured by the Mortgaged Property, to (ii) the lesser of
(a) the Appraised Value of the related Mortgaged Property at origination or (b) if the Mortgaged Property was purchased within twelve (12) months of the origination of such Mortgage Loan, the purchase price of the related Mortgaged
Property. 
 “Conforming Mortgage Loan” means a first lien mortgage loan originated in accordance with the most recently
published underwriting and eligibility criteria of Fannie Mae or Freddie Mac for purchase of mortgage loans, as determined by Buyer in its sole discretion. 

“Cooperative Corporation” means with respect to any Cooperative Mortgage Loan, the cooperative apartment corporation that
holds legal title to the related Cooperative Project and grants occupancy rights to units therein to stockholders through Proprietary Leases or similar arrangements. 

“Cooperative Mortgage Loan” means a mortgage loan that is secured by a first lien on and perfected security interest in
Cooperative Shares and the related Proprietary Lease granting exclusive rights to occupy the related Cooperative Unit in the building owned by the related Cooperative Corporation. 

“Cooperative Project” means, with respect to any Cooperative Mortgage Loan, all real property and improvements thereto and
rights therein and thereto owned by a Cooperative Corporation including, without limitation, the land, separate dwelling units and all common elements. 

“Cooperative Shares” means, with respect to any Cooperative Mortgage Loan, the shares of stock issued by a Cooperative
Corporation and allocated to a Cooperative Unit and represented by a stock certificate. 

  
 5 

 “Cooperative Unit” means, with respect to a Cooperative Mortgage Loan, a
specific unit or apartment in a Cooperative Project. 
 “Correspondent Mortgage Loan” means a mortgage loan purchased from
a licensed mortgage lender who is approved by the Seller and for which Seller does not appear as the lender on the Mortgage Note. 

“Cross Default Threshold” means $1 million or such other amount set forth on the Addendum for such term. 

“Custodial Agreement” means the custodial agreement between Buyer, Seller and Custodian, dated as of June 12, 2014, as
the same may be amended from time to time. 
 “Custodian” means Deutsche Bank, N.A., Wells Fargo Bank, National Association
or such other party agreed to by Buyer and specified in the Addendum, prior to an Event of Default, Seller. 
 “Default”
means an Event of Default or an event that with notice or lapse of time or both would become an Event of Default. 
 “Delivery
Date” means any day on which the Buyer, Seller or an agent of the Seller delivers a Mortgage File to the Custodian. 

“Dollars” and “$” means dollars in lawful currency of the United States of America. 

“Due Date” means the day of the month on which the Monthly Payment is due on a Mortgage Loan, exclusive of any days of grace.

 “Effective Date” means the date set forth on the Addendum. 

“Electronic Tracking Agreement” means an Electronic Tracking Agreement among Buyer, Seller, Servicer (if applicable), MERS
and MERSCORP Holdings, Inc., to the extent applicable as the same may be amended from time to time. 
 “ERISA” means the
Employee Retirement Income Security Act of 1974 and any successor thereto. 
 “ERISA Affiliate” means each person (as
defined in Section 3(9) of ERISA) which, together with Seller, would be deemed to be a “single employer” within the meaning of Section 414(b), (c), (m) or (o) of the Code. 

“ERISA Event” means (i) a “reportable event” within the meaning of Section 4043 of ERISA and regulations
thereunder with respect to any Plan (excluding those for which the thirty (30) day notice to the PBGC has been waived by regulation); (ii) the failure to meet the minimum funding standard of Section 303 of ERISA with respect to any
Plan or the failure to timely make a required installment under Section 430(j) of the Code with respect to any Plan or the failure to make any required contribution to a Multiemployer Plan; (iii) the provision by the

  
 6 

 
administrator of any Plan pursuant to Section 4041 of ERISA of a notice of intent to terminate such plan in a distress termination described under Section 4041(c ) of ERISA;
(iv) the imposition on Seller or any Affiliate of any liability (including any contingent liability) to or on account of any Plan pursuant to Section 4062, 4063, 4064, 4201 or 4104 of ERISA; (v) the institution by the PBGC of
proceedings for the termination of, or the appointment of a trustee to administer, any Plan; (vi) the imposition of liability on Seller or any Affiliate pursuant to Section 4062 or 4069 of ERISA pursuant to Section 4212 of ERISA;
(vii) the receipt by Seller or its ERISA Affiliates of notice from any Multiemployer Plan that it is in reorganization or insolvency pursuant to Section 4241 of ERISA or that it intends to terminate or has terminated under
Section 4041A or 4042 of ERISA and (ix) the imposition of a lien pursuant to Section 430(k) of the Code with respect to a Plan. 

“Errors and Omissions Insurance Policy” means, if applicable, an errors and omissions insurance policy to be maintained by
the Seller pursuant to Section 13(e) hereof. 
 “Escrow Payments” means, with respect to any Mortgage Loan, the
amounts constituting ground rents, taxes, assessments, water rates, sewer rents, municipal charges, mortgage insurance premiums, fire and hazard insurance premiums, condominium charges, and any other payments required to be escrowed by the Mortgagor
with the mortgagee pursuant to the Mortgage or any other document. 
 “Event of Default” has the meaning specified in
Section 14 hereof. 
 “Fannie Mae” means Fannie Mae, the government sponsored enterprise formerly known as the
Federal National Mortgage Association or any successor thereto. 
 “Fannie Mae Guide” means, together, the Fannie Mae MBS
Selling Guide and the Fannie Mae Servicing Guide, as such guides may hereafter from time to time be amended. 
 “Fannie Mae
Security” means a mortgage-backed security received in exchange for mortgage loans sold by the Seller to Fannie Mae and issued by Fannie Mae. 

“Fannie Mae Seller” means a business organization that is approved to sell mortgages to, and service on behalf of, Fannie
Mae. 
 “Federal Book Account” means the securities clearing account identified on the Addendum owned by the Buyer. 

“FHA” means the Federal Housing Administration, an agency within the United States Department of Housing and Urban
Development, or any successor thereto, and including the Federal Housing Commissioner and the Secretary of Housing and Urban Development where appropriate under the FHA Regulations. 

“FHA Approved Mortgagee” means a corporation or institution approved as a mortgagee by the FHA under the National Housing
Act, as amended from time to time, and applicable FHA Regulations, and eligible to own and service mortgage loans such as the FHA Loans. 

  
 7 

 “FHA Loan” means a Mortgage Loan which is the subject of an FHA Mortgage
Insurance Contract, or eligible for such FHA Mortgage Insurance Contract and will be submitted for such contract immediately after its origination. 

“FHA Mortgage Insurance” means, mortgage insurance authorized under the National Housing Act, as amended from time to time,
and provided by the FHA. 
 “FHA Mortgage Insurance Certificate” means the contractual obligation of the FHA with respect
to the insurance of a Mortgage Loan. 
 “FHA Regulations” means the regulations promulgated by the Department of Housing
and Urban Development under the National Housing Act, as amended from time to time, and codified in 24 Code of Federal Regulations, and other Department of Housing and Urban Development issuances relating to FHA Loans, including the related
handbooks, circulars, notices and mortgagee letters. 
 “FICO” means Fair Isaac & Co., or any successor thereto.

 “Fidelity Insurance Policy” means, if applicable, a fidelity insurance policy to be maintained by the Seller pursuant to
Section 13(e) hereof. 
 “Financial Covenants” means the covenants set forth on Annex A to this
Agreement and the “Financial Covenants” (to the extent that such covenants are not already specifically set forth in this Agreement) set forth in the Addendum. 

“Freddie Mac” means Freddie Mac, the government sponsored enterprise formerly known as the Federal Home Loan Mortgage
Corporation or any successor thereto. 
 “Freddie Mac Guide” means the Freddie Mac Sellers’ and Servicers’ Guide,
as such Guide may hereafter from time to time be amended. 
 “Freddie Mac Security” means a mortgage-backed security
received in exchange for mortgage loans sold by the Seller to Freddie Mac and issued by Freddie Mac. 
 “Freddie Mac
Seller” means a business organization that is approved to sell mortgages to, and service on behalf of, Freddie Mac. 

“GAAP” means generally accepted accounting principles in effect from time to time in the United States of America and applied
on a consistent basis. 
 “General Partner” means, if applicable, the Person identified on the Addendum for such term. 

“Ginnie Mae” means the Government National Mortgage Association and any successor thereto. 

  
 8 

 “Ginnie Mae Guide” means the Ginnie Mae Mortgage-Backed Securities Guide,
including the Ginnie Mae Document Custodian Manual, as such Ginnie Mae Guide may hereafter from time to time be amended. 
 “Ginnie
Mae Issuer” or the “Issuer” means a business organization that, having met certain criteria, has been approved to issue securities guaranteed by Ginnie Mae and service the mortgage loans related to such securities. 

“Ginnie Mae Security” means a mortgage-backed security issued by the Seller for which the timely payment of principal and
interest is guaranteed by Ginnie Mae. 
 “Governing Documents” means, with respect to any Person, its articles or
certificate of incorporation or formation, by-laws, memorandum and articles of association, partnership, limited liability company, operating or trust agreement and/or other organizational, charter or governing documents, together with any
amendments, restatement or supplements thereto. 
 “Government Mortgage Loan” means a first lien mortgage loan originated
in accordance with the criteria of USDA, FHA, VA or other Governmental Authority for purchase of mortgage loans, including, without limitation, USDA Mortgage Loans, FHA Loans and VA Loans, as determined by Buyer in its sole discretion. 

“Governmental Authority” means any (a) nation or government, any state or other political subdivision thereof,
(b) Person, agency, authority, instrumentality, court, regulatory body, central bank or other body or entity exercising executive, legislative, judicial, taxing, quasi–judicial, quasi–legislative, regulatory or administrative
functions or powers of or pertaining to government, (c) court or arbitrator having jurisdiction over such Person, its Affiliates or its assets or properties, (d) stock exchange on which shares of stock of such Person are listed or admitted
for trading or (e) accounting board or authority that is responsible for the establishment or interpretation of national or international accounting principles. 

“Gross Margin” means, with respect to each adjustable rate Mortgage Loan, the fixed percentage amount set forth in the
related Mortgage Note. 
 “Guarantee” means, as to any Person, any obligation of such Person directly or indirectly
guaranteeing any Indebtedness of any other Person or in any manner providing for the payment of any Indebtedness of any other Person or otherwise protecting the holder of such Indebtedness against loss (whether by virtue of partnership arrangements,
by agreement to keep-well, to purchase assets, goods, securities or services, or to take-or-pay or otherwise); provided, that the term “Guarantee” shall not include (i) endorsements for collection or deposit in the ordinary
course of business, or (ii) obligations to make servicing advances for delinquent taxes and insurance or other obligations in respect of a Mortgaged Property, to the extent required by Buyer. The amount of any Guarantee of a Person shall be
deemed to be an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined
by such Person in good faith. The terms “Guarantee” and “Guaranteed” used as verbs shall have correlative meanings. 

  
 9 

 “Guarantor”, if applicable, has the meaning set forth in the Guaranty Addendum.

 “Guaranty” means, if applicable, the guaranty in the form of Exhibit D hereto, as supplemented by the Guaranty
Addendum, of each Guarantor dated as of the date set forth on the Guaranty Addendum as the same may be amended from time to time, pursuant to which each Guarantor fully and unconditionally guarantees the obligations of the Seller hereunder. 

“Guaranty Addendum” means that certain addendum to the Guaranty, if applicable, dated as of the date set forth thereon,
between the Buyer and the Seller. 
 “Guide” means, collectively, (i) the Ginnie Mae Guide, (ii) the Fannie Mae
Guide or (iii) the Freddie Mac Guide, as applicable and including the applicable Agency Document Custodian Manual, as such Guide may hereafter from time to time be amended. 

“High Cost Mortgage Loan” means a mortgage loan classified as (a) a “high cost” loan under the Home Ownership
and Equity Protection Act of 1994, as amended, or (b) a “high cost,” “threshold,” “covered,” “abusive,” “high risk” or “predatory” loan under any other applicable state, federal or
local law (or a similarly classified loan using different terminology under a law, regulation or ordinance imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or
fees). 
 “HUD” means the U.S. Department of Housing and Urban Development. 

“Income” means with respect to any Purchased Asset, all of the following (in each case with respect to the entire par amount
of the Purchased Asset represented by such Purchased Asset and not just with respect to the portion of the par amount represented by the Purchase Price advanced against such Purchased Asset): (a) all Principal Payments, (b) all Interest
Payments, (c) all other income, distributions, receipts, payments, collections, prepayments, recoveries, proceeds (including insurance and condemnation proceeds) and other payments or amounts of any kind paid, received, collected, recovered or
distributed on, in connection with or in respect of such Purchased Asset, including prepayment fees, extension fees, exit fees, any rental payments, if any, transfer fees, make whole fees, late charges, late fees and all other fees or charges of any
kind or nature, premiums, yield maintenance charges, penalties, default interest, dividends, gains, receipts, allocations, rents, interests, profits, payments in kind, returns or repayment of contributions, net sale, foreclosure, liquidation,
securitization or other disposition proceeds, insurance payments, settlements and proceeds, (d) all payments received from hedge counterparties pursuant to interest rate protection agreements related to such Purchased Mortgage Loans; and
(e) all other “proceeds” as defined in Section 9-102(64) of the UCC, including all collections or distributions thereon or other income or receipts therefrom or in respect thereof; provided, that any amounts that under the
applicable Mortgage Loan Documents are required to be deposited into and held in escrow or reserve to be used for a specific purpose, such as taxes and insurance, shall not be included in the term “Income” unless and until (i) an
event of default exists under such Mortgage Loan Documents, (ii) the holder of the related Purchased Mortgage Loan has exercised or is entitled to exercise rights and remedies with respect to such amounts, (iii) such amounts are no longer
required to be held for such purpose under such Mortgage Loan Documents, or (iv) such amounts may be applied to all or a portion of the outstanding indebtedness under such Mortgage Loan Documents. 

  
 10 

 “Indebtedness” means, for any Person: (a) obligations created, issued or
incurred by such Person for borrowed money (whether by loan, the issuance and sale of debt securities or the sale of Property to another Person subject to an understanding or agreement, contingent or otherwise, to repurchase such Property from such
Person); (b) obligations of such Person to pay the deferred purchase or acquisition price of Property or services, other than trade accounts payable (other than for borrowed money) arising, and accrued expenses incurred, in the ordinary course
of business, so long as such trade accounts payable are payable within ninety (90) days after the date the respective goods are delivered or the respective services are rendered; (c) indebtedness to others secured by a Lien on the Property
of such Person, whether or not the respective indebtedness so secured has been assumed by such Person; (d) obligations (contingent or otherwise) of such Person in respect of letters of credit or similar instruments issued or accepted by banks
and other financial institutions for the account of such Person; (e) Capital Lease Obligations of such Person; (f) obligations of such Person under repurchase agreements, sale/buy-back agreements, early purchase agreements, or like
arrangements; (g) indebtedness of others Guaranteed by such Person; (h) all obligations of such Person incurred in connection with the acquisition or carrying of fixed assets by such Person; (i) indebtedness of general partnerships of
which such Person is a general partner; and (j) to the extent not already included in clauses (a) through (i) above, any amounts either existing or reported on the financial statements of Seller, that Buyer determines, in its
discretion, are obligations of such Person that should be included as “Indebtedness” hereunder. Notwithstanding anything herein to the contrary, the following shall not be considered “Indebtedness”: liabilities on Seller’s
balance sheet representing the option, but not the obligation, of Seller to repurchase the unpaid principle balance of Mortgage Loans serviced by Seller and guaranteed by Ginnie Mae, which option is triggered in the event that such Mortgage Loans
are due, but unpaid, for three consecutive months. 
 “Index” means, with respect to any adjustable rate Mortgage Loan, the
index identified on the Mortgage Loan Schedule and set forth in the related Mortgage Note for the purpose of calculating the applicable Mortgage Interest Rate. 

“Index Floor” means the rate set forth on the Addendum for such term. 

“Individual Claim Threshold” means the amount set forth on the Addendum for such term. 

“Interest Only Adjustment Date” means, with respect to each Interest Only Loan, the date, specified in the related Mortgage
Note on which the Monthly Payment will be adjusted to include principal as well as interest. 
 “Interest Only Loan” means
a Mortgage Loan which only requires payments of interest for a period of time specified in the related Mortgage Note. 
 “Interest
Payments” means with respect to any Purchased Asset, all payments of interest, income, receipts, dividends, and any other collections and distributions received from time to time in connection with any such Purchased Asset. 

  
 11 

 “Interest Rate Adjustment Date” means the date on which an adjustment to the
Mortgage Interest Rate with respect to each Mortgage Loan becomes effective. 
 “Interest Rate Protection Agreement” means,
with respect to any or all of the Purchased Mortgage Loans, any short sale of a US Treasury Security, or futures contract, or mortgage related security, or Eurodollar futures contract, or options related contract, or interest rate swap, interest
rate lock agreement or similar arrangement providing for protection against fluctuations in interest rates or the exchange of nominal interest obligations, either generally or under specific contingencies, entered into by Seller and an Affiliate of
Buyer or such other party acceptable to Buyer in its sole discretion, which agreement is acceptable to Buyer in its discretion. 

“Judgment Threshold” means the amount set forth on the Addendum for such term. 

“Jumbo Mortgage Loan” means a mortgage loan with an original unpaid principal amount in excess of the lesser of the
applicable conventional conforming loan limits set by Fannie Mae and Freddie Mac. 
 “Key Personnel” means the people or
positions set forth on the Addendum for such term. 
 “LIBOR” means the rate determined on the first (1st) Business Day of each week by Buyer on the basis of the offered rate for one-month or three-month (as set forth on the Addendum) U.S. dollar deposits, as such rate appears on Bloomberg Screen
US0001M Page, as of 11:00 a.m. (London time) on such date (rounded up to the nearest whole multiple of 1/8%); provided, that if such rate does not appear on Bloomberg Screen US0001M Page, the rate for such date will be the rate determined by
reference to such other comparable publicly available service publishing such rates as may be selected by Buyer in its sole discretion and communicated to Seller; provided, further, that if Buyer determines that, by reason of
circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining LIBOR, then Buyer shall provide Seller with prompt notice thereof and Buyer shall use such other comparable rate that is being used in the
relevant market until otherwise communicated to Seller. Notwithstanding anything to the contrary herein, Buyer shall have the option in its sole discretion, to re-set LIBOR on a daily basis. 

“Lien” means any mortgage, lien, pledge, charge, security interest or similar encumbrance. 

“Limited Partner” means, if applicable, the Person identified on the Addendum for such term. 

“Loan Margin” means the loan margin for the applicable Mortgage Loan set forth in the Sublimit, Rate and Term Schedule of the
Addendum; provided, however, that upon the occurrence of a Default or Event of Default, the Loan Margin shall automatically be increased by the Post Default Rate Margin, even if the Buyer forebears exercising any of its rights and
remedies as a result of such Default or Event of Default. 

  
 12 

 “Loan to Value Ratio” or “LTV” means with respect to any
Mortgage Loan, the ratio of the original outstanding principal amount of the Mortgage Loan, to the lesser of (a) the Appraised Value of the related Mortgaged Property at origination or (b) if the Mortgaged Property was purchased within
twelve (12) months of the origination of such Mortgage Loan, the purchase price of the related Mortgaged Property. 

“Manager” means the managing member or non-member manager of Seller, if any. 

“Manual” has the meaning set forth in Section 17 hereof. 

“Manufactured Home” means any dwelling unit built on a permanent chassis and attached to a permanent foundation system. 

“Margin Call” has the meaning specified in Section 6(a) hereof. 

“Margin Deadlines” has the meaning specified in Section 6(c) hereof. 

“Margin Deficit” has the meaning specified in Section 6(a) hereof. 

“Margin Stock” has the meaning assigned to that term in Regulation U of the Board of Governors of the Federal Reserve System
as in effect from time to time. 
 “Market Value” means, with respect to any Purchased Mortgage Loan as of any date of
determination, the whole loan servicing released fair market value of such Purchased Mortgage Loan on such date as determined by Buyer (or an Affiliate thereof) in its sole discretion, and with respect to any Purchased Agency Security as of any date
of determination the fair market value of such Purchased Agency Security on such date as determined by Buyer (or an Affiliate thereof) in its sole discretion; provided, however, that the methodology for such determination is consistent
with Wells Fargo Securities, LLC’s determination with respect to its own portfolio of mortgage loans or agency securities, to which such a determination would be applicable. Without limiting the generality of the foregoing, Seller acknowledges
that the Market Value of a Purchased Mortgage Loan or Purchased Agency Security may be reduced to zero by Buyer if: 
 (i) a breach of a
representation, warranty or covenant made by Seller in this Agreement (including, without limitation, any representation, warranty or covenant made on a Schedule or Exhibit including, without limitation, Schedule 1) with respect to such
Purchased Mortgage Loan or Purchased Agency Security has occurred and is continuing; 
 (ii) such Purchased Mortgage Loan is or becomes a
Sub-Performing Mortgage Loan; 
 (iii) such Purchased Mortgage Loan has been released from the possession of the Custodian under the
Custodial Agreement for a period in excess of ten (10) days for a servicing-related issue or twenty (20) days if provided under a bailee letter; 

  
 13 

 (iv) such Purchased Mortgage Loan has been subject to a Transaction hereunder for a period of
greater than the Maximum Transaction Duration identified on the Addendum for the relevant loan type or such Purchased Agency Security has been subject to a Transaction hereunder for a period greater than the Maximum Transaction Duration identified
on the Addendum for Purchased Agency Securities; provided, however, that in no event shall a Purchased Mortgage Loan or Purchased Agency Security be subject to a Transaction for greater than 364 days; 

(v) such Purchased Mortgage Loan is a Wet-Ink Mortgage Loan for which the Mortgage File has not been delivered to the Custodian on or
prior to the Wet-Ink Mortgage Loan Document Receipt Date after the related Purchase Date; 
 (vi) such Purchased Mortgage Loan is no
longer acceptable for purchase by a Takeout Investor under any of the flow purchase or conduit programs for which Seller has been approved, or a Takeout Investor conditions the purchase of such Purchased Mortgage Loan and, in each case, in
Buyer’s sole determination, such ineligibility or conditions demonstrate an impairment of the marketability of such Purchased Mortgage Loan, or, if such Purchased Mortgage Loan has not been offered to a Takeout Investor, Buyer determines that
there is a flaw in such Purchased Mortgage Loan which materially impacts the marketability of such Purchased Mortgage Loan; provided, that, in the case of a Purchased Mortgage Loan that has not been offered to a Takeout Investor, if Buyer
determines that there is a flaw that materially impacts the marketability of such Purchased Mortgage Loan, Buyer shall notify Seller of such flaw and allow the Seller two (2) Business Days to cure such flaw if, in Buyer’s sole
determination, allowing Seller time to cure such flaw does not materially impact Buyer’s interests in, or marketability of, such Purchase Mortgage Loan; 

(vii) when the Purchase Price for a Purchased Mortgage Loan is added to other Purchased Mortgage Loans that are of the same type of
Mortgage Loan, the aggregate Purchase Price of all such type of Purchased Mortgage Loans exceeds the applicable Sublimit for such type of Mortgage Loans; 

(viii) when the Purchase Price for such Purchased Mortgage Loan is added to other Purchased Mortgage Loans, the aggregate Purchase Price
of all Purchased Mortgage Loans exceeds the Maximum Aggregate Purchase Price; 
 (ix) when the Purchase Price for such Purchased Agency
Security is added to other Purchased Agency Securities, the aggregate Purchase Price for all Purchased Agency Securities exceeds the Agency Security Sublimit; 

(x) when the Purchase Price for such Purchased Mortgage Loan or such Purchased Agency Security, as applicable, is added to other Purchased
Assets, the Aggregate Purchase Price of all Purchased Assets exceeds the Maximum Aggregate Purchase Price; or 
 (xi) such Purchased
Agency Security is no longer acceptable for purchase by a Takeout Broker Dealer under any of the flow purchase or conduit programs for which Seller has been approved, or a Takeout Broker Dealer conditions the purchase of such Agency Security and, in
each case, in Buyer’s sole determination, such ineligibility or conditions demonstrate an 

  
 14 

 
impairment of the marketability of such Purchased Agency Security, or, if such Purchased Agency Security has not been offered to a Takeout Broker Dealer, Buyer determines that there is a flaw in
such Purchased Agency Security which materially impacts the marketability of such Purchased Agency Security; provided, that, in the case of a Purchased Agency Security that has not been offered to a Takeout Broker Dealer, if Buyer determines
that there is a flaw that materially impacts the marketability of such Purchased Agency Security, Buyer shall notify Seller of such flaw and allow the Seller two (2) Business Days to cure such flaw if, in Buyer’s sole determination,
allowing Seller time to cure such flaw does not materially impact Buyer’s interests in, or marketability of, such Purchase Agency Security. 

“Master Agency Custodial Agreement” means (i) the Master Fannie Mae Custodial Agreement, (ii) the Master Freddie
Mac Custodial Agreement or (iii) the Master Ginnie Mae Custodial Agreement, as applicable. 
 “Master Fannie Mae Custodial
Agreement” means Fannie Mae Form 2003. 
 “Master Freddie Mac Custodial Agreement” means Freddie Mac Form 1035.

 “Master Ginnie Mae Custodial Agreement” means form HUD-11715. 

“Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the operations,
business, properties, condition (financial or otherwise) or prospects of any Seller, any Guarantor, any Manager, any General Partner, any Limited Partner or any Affiliate that is a party to any Program Agreement taken as a whole; (b) a material
impairment of the ability of any Seller, any Guarantor or any Affiliate that is a party to any Program Agreement to perform under any Program Agreement and to avoid any Event of Default; or (c) a material adverse effect upon the legality,
validity, binding effect or enforceability of any Program Agreement against Seller, any Guarantor, any Manager, any General Partner, any Limited Partner or any Affiliate that is a party to any Program Agreement. 

“Maximum Aggregate Purchase Price” means the amount set forth on the Addendum for such term. 

“Maximum Transaction Duration” means the number of days that a Purchased Mortgage Loan or Purchased Agency Security can be
subject to a Transaction as set forth on the Sublimit, Rate and Term Schedule of the Addendum. 
 “MBS Sweep Mortgage Loan”
means a Conforming Mortgage Loan or a Government Mortgage Loan originated or purchased by Seller, which prior to being subject to a Transaction was purchased or financed by a third-party’s facility, and such mortgage loan received a
pre-certification from the Custodian certifying that such loan is eligible, pursuant to Buyer’s published guidelines for such loans, as a “MBS Sweep Mortgage Loan” for sale to an Agency in exchange for an Agency Security. 

“MERS” means Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State
of Delaware, or any successor thereto. 

  
 15 

 “MERS Designated Mortgage Loan” means a mortgage loan for which (a) the
Seller has designated or will designate MERS as, and has taken or will take such action as is necessary to cause MERS to be, the mortgagee of record, as nominee for the Seller, in accordance with MERS Procedures Manual and (b) the Seller has
designated or shall promptly designate the Seller as the servicer or subservicer in the MERS System. 
 “MERS System” means
the system of recording transfers of mortgages electronically maintained by MERS. 
 “MOM Mortgage Loan” means any mortgage
loan as to which MERS is acting as mortgagee, solely as nominee for the originator of such mortgage loan and its successors and assigns. 

“Monthly Payment” means the scheduled monthly payment of principal and/or interest on a Mortgage Loan. 

“Mortgage” means each mortgage, assignment of rents, security agreement and fixture filing, or deed of trust, assignment of
rents, security agreement and fixture filing, deed to secure debt, assignment of rents, security agreement and fixture filing, or similar instrument creating and evidencing a lien on real property and other property and rights incidental thereto.

 “Mortgage File” means, with respect to a Mortgage Loan, the documents and instruments relating to such Mortgage Loan and
in the form set forth in the Manual. 
 “Mortgage Interest Rate” means the rate of interest borne on a Mortgage Loan from
time to time in accordance with the terms of the related Mortgage Note. 
 “Mortgage Interest Rate Cap” means, with respect
to an adjustable rate Mortgage Loan, the limit on each Mortgage Interest Rate adjustment as set forth in the related Mortgage Note. 

“Mortgage Loan” means any fixed or floating rate, one-to-four-family residential mortgage loan that is evidenced by a
Mortgage Note and secured by a Mortgage; provided, however, that such mortgage loan will only be considered a “Mortgage Loan” for the purposes of this Agreement if such mortgage loan is of the type listed on the Sublimit,
Rate and Term Schedule of the Addendum under the heading “Mortgage Loans” which may include the following types of mortgage loans: Conforming Mortgage Loan, Correspondent Mortgage Loan, Government Mortgage Loan, Jumbo Mortgage Loan, MBS
Sweep Mortgage Loan, Retail Mortgage Loan, Specialized Mortgage Loan or Wholesale Mortgage Loan. If a type of mortgage loan is not listed in the Sublimit, Rate and Term Schedule of the Addendum, such types of mortgage loans shall not be purchased by
the Buyer hereunder and the sublimit, pricing and purchase price categories shall be inapplicable. 
 “Mortgage Loan
Documents” means the documents in the related Mortgage File to be delivered to the Custodian. 

  
 16 

 “Mortgage Loan Schedule” means with respect to any Transaction as of any date, a
mortgage loan schedule in the form of either (a) the schedule attached to the Manual or (b) a computer tape or other electronic medium generated by Seller and delivered to Buyer and Custodian, which provides information (including, without
limitation, the information in the schedule attached to the Manual) relating to the Purchased Mortgage Loans in a format acceptable to Buyer. 

“Mortgage Note” means the promissory note or other evidence of the indebtedness of a Mortgagor secured by a Mortgage. 

“Mortgaged Property” means the real property (and with respect to any Cooperative Mortgage Loan, the Cooperative Unit)
securing repayment of the debt evidenced by a Mortgage Note. 
 “Mortgagor” means the obligor or obligors on a Mortgage
Note, including any person who has assumed or guaranteed the obligations of the obligor thereunder. 
 “Multiemployer Plan”
means any employee benefit plan (within the meaning of Section 3(3) of ERISA) that is a multiemployer plan as defined in Section 3(37) of ERISA to which the Seller or any of its ERISA Affiliates makes or is obligated to make contributions
or to which the Seller or any of its ERISA Affiliates within the last six (6) preceding plan years has made or been obligated to make contributions. 

“Negative Amortization” means the portion of interest accrued at the Mortgage Interest Rate in any month which exceeds the
Monthly Payment on the related Mortgage Loan for such month and which, pursuant to the terms of the Mortgage Note, is added to the principal balance of the Mortgage Loan. 

“NRSRO” means a nationally recognized statistical rating organization. 

“Obligations” means (a) all of Seller’s indebtedness, obligations to pay the Repurchase Price on the Repurchase
Date, the Price Differential on each Repurchase Date, and other obligations and liabilities, to Buyer, its Affiliates or Custodian arising under, or in connection with, the Program Agreements, whether now existing or hereafter arising; (b) any
sums paid by Buyer or on behalf of Buyer in order to preserve any Purchased Assets or Buyer’s interest therein; (c) in the event of any proceeding for the collection or enforcement of any of Seller’s indebtedness, obligations or
liabilities referred to in clause (a), the reasonable expenses of retaking, holding, collecting, preparing for sale, selling or otherwise disposing of or realizing on any Purchased Assets, or of any exercise by Buyer of its rights under the
Program Agreements, including, without limitation, attorneys’ fees and disbursements and court costs; and (d) all of Seller’s indemnity obligations to Buyer or Custodian or both pursuant to the Program Agreements. 

“OFAC” means The Office of Foreign Assets Control of the U.S. Department of the Treasury. 

“Officer’s Compliance Certificate” means a certificate of a Responsible Officer of Seller in the form of Exhibit
A hereto. 

  
 17 

 [***] Confidential portions of this document have been redacted and filed separately with the
Commission. 
  
 “Patriot Act” means the Uniting and
Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001. 
 “PBGC”
means the Pension Benefit Guaranty Corporation or any successor thereto. 
 “Person” means an individual, partnership
(general, limited or otherwise), corporation (including a business trust), limited liability company, joint stock company, trust, unincorporated association, joint venture or other entity, or a government or any political subdivision or agency
thereof. 
 “Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA that is subject to
Title IV of ERISA other than a Multiemployer Plan to which the Seller or any of its ERISA Affiliates makes or is obligated to make contributions or to which the Seller or any of its ERISA Affiliates within the last six (6) preceding plan years
has made or been obligated to make contributions. 
 “Post Default Rate Margin” means the percentage set forth on the
Addendum for such term. 
 “Price Differential” means with respect to any Transaction as of any date of determination, an
amount equal to the product of (A) the Pricing Rate for such Transaction and (B) the Purchase Price for such Transaction, calculated daily on the basis of a three hundred sixty (360) day year for the actual number of days during the
period commencing on (and including) the Purchase Date for such Transaction and ending on (but excluding) the Repurchase Date. 

“Pricing Rate” means a rate per annum equal to [***] 

“Principal Payments” means for any Purchased Asset, all payments and prepayments of principal received and applied as
principal toward the Purchase Price for such Purchased Asset, including insurance and condemnation proceeds and recoveries from liquidation or foreclosure. 

“Processing Agent” shall mean each such Person so designated pursuant to Section 13(jj) hereof. 

“Professional Liability Insurance Policy” means, if applicable, a professional liability insurance policy to be maintained by
the Seller pursuant to Section 13(e) hereof. 
 “Program Agreements” means, collectively, the Servicing
Agreement, if any, the Servicer Side Letter, if any, the Custodial Agreement, this Agreement, the Collection Account Control Agreement, the Seller’s Clearing Account Control Agreement, the Reserve Account Control Agreement, the Electronic
Tracking Agreement, if any, and the Guaranty, if any, and any other agreements entered into in connection herewith between the Buyer and the Seller. 

  
 18 

 [***] Confidential portions of this document have been redacted and filed separately with the
Commission. 
  
 “Property” means any right or interest
in or to property of any kind whatsoever, whether real, personal or mixed and whether tangible or intangible. 
 “Proprietary
Lease” means the lease on a Cooperative Unit evidencing the possessory interest of the owner of the Cooperative Shares in such Cooperative Unit. 

“Purchase Confirmation” means a confirmation of a Transaction, in the form attached to the Manual. 

“Purchase Date” means, with respect to each Transaction, the date on which Purchased Mortgage Loans or Purchased Agency
Securities, as applicable, are sold by Seller to the Buyer hereunder. 
 “Purchase Price” means, in the case of any
Purchased Mortgage Loan [***] 
 “Purchase Price Percentage” means, the maximum allowable percentage determined by Buyer
for a Purchased Mortgage Loan or Purchased Agency Security, as applicable, in accordance with the Sublimit, Rate and Term Schedule of the Addendum, and in accordance with the Manual with respect to aged loan curtailments. The Purchase Price
Percentage may be reduced to zero for any Mortgage Loan that becomes an ineligible Mortgage Loan. 
 “Purchased Agency
Securities” means the collective reference to Agency Securities sold by Seller to Buyer in a Transaction hereunder. 

“Purchased Assets” means the Purchased Mortgage Loans, the Records, and all related Servicing Rights, the Purchased Agency
Securities, the Program Agreements (to the extent such Program Agreements and Seller’s right thereunder relate to the Purchased Mortgage Loans or the Purchased Agency Securities), any Mortgaged Property relating to the Purchased Mortgage Loans
or the Purchased Agency Securities, all insurance policies and insurance proceeds relating to any Purchased Mortgage Loan or the related Mortgaged Property, including, but not limited to, any payments or proceeds under any related primary insurance,
hazard 

  
 19 

 
insurance and FHA Mortgage Insurance Contracts (if any) and VA Loan Guaranty Agreements (if any), Income, all amounts in the Collection Account, all amounts in the Seller’s Clearing Account
and the Reserve Account, and any account to which such amount is deposited, Interest Rate Protection Agreements, accounts (including any interest of Seller in escrow accounts) and any other contract rights, instruments, accounts, payments, rights to
payment (including payments of interest or finance charges) general intangibles and other assets relating to the Purchased Assets (including, without limitation, any other accounts) or any interest in the Purchased Assets, and any proceeds
(including the related securitization proceeds) and distributions with respect to any of the foregoing and any other property, rights, title or interests as are specified on a Transaction Request and/or Trust Receipt, in all instances, whether now
owned or hereafter acquired, now existing or hereafter created. 
 “Purchased Mortgage Loans” means the collective
reference to Mortgage Loans sold by Seller to Buyer in a Transaction hereunder, listed on the related Mortgage Loan Schedule attached to the related Transaction Request, which such Mortgage Loans the Custodian has been instructed to hold pursuant to
the Custodial Agreement. 
 “Qualified Insurer” means a mortgage guaranty insurance company duly authorized and licensed
where required by law to transact mortgage guaranty insurance business and approved as an insurer by Fannie Mae or Freddie Mac. 

“Qualified Originator” means an originator of Mortgage Loans which is acceptable under the Underwriting Guidelines. 

“Records” means all instruments, agreements and other books, records, and reports and data generated by other media for the
storage of information maintained by Seller, Servicer or any other person or entity with respect to a Purchased Mortgage Loan and/or Purchased Agency Security. Records shall include the Mortgage Notes, any Mortgages, the Mortgage Files, the credit
files related to the Purchased Mortgage Loan, the Purchased Agency Security and any other instruments necessary to document or service a Mortgage Loan. 

“Release of Security Interest” means form HUD-11711A, Fannie Mae Form 2004A, Freddie Mac Form 996 or Freddie Mac Form 996E,
as applicable. 
 “Reporting Date” means the fifth (5th) day of
each month or, if such day is not a Business Day, the next succeeding Business Day or such other time period set forth in the Addendum for such term. 

“Reporting Period” means the time period set forth in the Addendum for such term. 

“Repurchase Date” means the date occurring on the earliest of (i) the Termination Date, (ii) the date determined by
application of Section 15 hereof, (iii) any date determined by application of the respective Maximum Transaction Duration, (iv) any other date communicated by Buyer to Seller in connection with the funding of a Transaction or
(v) any other date communicated by Buyer to Seller in connection with a Margin Deficit as set forth in Section 6(b) hereof. 

  
 20 

 “Repurchase Price” means the price at which Purchased Assets are to be
transferred from Buyer to Seller upon termination of a Transaction, on the Repurchase Date or at any other time specified in this Agreement, which will be determined in each case (including Transactions terminable upon demand) as the sum of the
Purchase Price for such Purchased Assets and the accrued but unpaid Price Differential as of the date of such determination and any fees and expenses charged by the Buyer and payable by the Seller as set forth on the Addendum and any custodial fees
as set forth on the Addendum with respect to such Purchased Assets and all other fees and expenses incurred by the Buyer. 

“Required Insurance Amount” means the amount set forth on the Addendum for such term. 

“Required Insurance Policy” means any Fidelity Insurance Policy, Errors and Omissions Insurance Policy, Professional
Liability Insurance Policy or any other insurance policy that may be required by Buyer, in each case, as set forth in the Addendum. 

“Requirements of Law” means, with respect to any Person, all Governing Documents and existing and future laws, treaties,
rules, regulations, statutes, codes, ordinances, permits, certificates, orders and licenses of and interpretations by any Governmental Authority, judgments, decrees, injunctions, writs, awards or orders of any court, arbitrator or other Governmental
Authority, applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject. 

“Reserve Account” means an account established at Wells Fargo Bank, N.A. or one of its Affiliates, in the name of the Person
set forth on the Addendum and subject to a Reserve Account Control Agreement with Buyer which shall at all times contain a balance at least equal to the Reserve Account Threshold, as such amount may be adjusted from time to time by Buyer in its sole
discretion, and subject to set off by Buyer with respect to any Obligations. 
 “Reserve Account Control Agreement” means a
blocked account agreement providing the Buyer with control at all times over the Reserve Account. 
 “Reserve Account
Threshold” means the amount set forth on the Addendum for such term. 
 “Responsible Officer” means as to any
Person, the chief executive officer, president, general partner, managing member, non-member manager, or, with respect to financial matters, the chief financial officer of such Person, or if such positions do not exist, any such similar positions.

 “Restatement Date” means the date set forth on the Addendum. 

“Retail Mortgage Loan” means a mortgage loan originated by the Seller for which the Seller took the borrower’s loan
application, and for which Seller appears as the lender on the Mortgage Note. 
 “Sanctioned Entity” or “Sanctioned
Entities” means (a) a country or a government of a country, (b) an agency of the government of a country, (c) an organization directly or indirectly controlled by a country or its government, or (d) a Person resident in
or determined to be resident in a country, in each case, that is subject to a country sanctions program administered and enforced by OFAC. 

  
 21 

 “SEC” means the Securities and Exchange Commission, or any successor thereto.

 “Seller” has the meaning set forth on the Addendum. 

“Seller’s Account for Remittance” means an account identified on the Addendum and established in the name of Seller into
which Buyer will remit funds in accordance with Section 8 hereof. 
 “Seller’s Acquisition Price” means
the price that the Seller paid a third party for a Mortgage Loan in the event that the Seller did not originate such Mortgage Loan. 

“Seller’s Clearing Account” means an account identified on the Addendum and established at Wells Fargo Bank, N.A. or one
of its Affiliates, in the name of Seller and subject to a Seller’s Clearing Account Control Agreement with Buyer or another insured financial institution, into which certain amounts shall be deposited or withdrawn, which shall at all times
contain a balance at least equal to the Seller’s Clearing Account Threshold, as such amount may be adjusted from time to time by Buyer in its sole discretion, and subject to set off by Buyer with respect to any Obligations. 

“Seller’s Clearing Account Control Agreement” means a blocked account agreement providing the Buyer with control at all
times over the Seller’s Clearing Account. 
 “Seller’s Clearing Account Threshold” means the amount set forth on
the Addendum for such term; if no such amount is specified on the Addendum then such amount is zero. 
 “Servicer” means
any servicer approved by Buyer in its sole discretion to service Purchased Mortgage Loans on behalf of Buyer, which may be Seller or such other third party as set forth on the Addendum that has executed a Servicing Agreement. 

“Servicer Side Letter” has the meaning set forth in Section 11(d) hereof. 

“Servicing Agreement” means a separate written agreement with a third party servicer to service the Purchased Mortgage Loans.

 “Servicing Rights” means contractual, possessory or other rights of the Seller or any third party servicer to administer
or service the Purchased Mortgage Loans, including, without limitation, the right to collect Monthly Payments. 
 “Settlement
Account” means one or more accounts established at Wells Fargo Bank, N.A. or one of its Affiliates, by and in the name of the Buyer, into which (i) all Income shall be deposited or transferred from the Collection Account; (ii) the
Takeout Investor remits funds pursuant to the Takeout Commitment; and (iii) the Takeout Broker Dealer remits funds pursuant to the Agency Security Purchase Commitment. 

  
 22 

 “Shipment Order” means an electronically transmitted request for shipment of
Collateral Documents, substantially in the form attached to the Custodial Agreement. 
 “Specialized Mortgage Loan” means
the definition as set forth in the Addendum. 
 “Sublimit” means the limit for the applicable Mortgage Loan type set forth
in the Sublimit, Rate and Term Schedule of the Addendum. For a Purchased Mortgage Loan that is a Wet-Ink Mortgage Loan, such Mortgage Loan shall be subject to both the Sublimit for a Wet-Ink Mortgage Loan and the Sublimit applicable to such Mortgage
Loan type. For a Purchased Mortgage Loan that is a Cooperative Mortgage Loan, such Mortgage Loan shall be subject to the Sublimit for a Wet-Ink Mortgage Loan, Conforming Mortgage Loan or Jumbo Mortgage Loan, as applicable. 

“Sublimit, Rate and Term Schedule” means Schedule 3 of the Addendum. 

“Sub-Performing Mortgage Loan” means a mortgage loan that is or has been more than thirty (30) days contractually past
due. 
 “Subsidiary” or “Subsidiaries” means, with respect to any Person, any corporation, partnership or
other entity of which at least a majority of the securities or other ownership interests having by the terms thereof ordinary voting power to elect a majority of the board of directors or other persons performing similar functions of such
corporation, partnership or other entity (irrespective of whether or not at the time securities or other ownership interests of any other class or classes of such corporation, partnership or other entity shall have or might have voting power by
reason of the happening of any contingency) is at the time directly or indirectly owned or controlled by such Person or one or more Subsidiaries of such Person or by such Person and one or more Subsidiaries of such Person. 

“Takeout Broker Dealer” means any broker dealer pre-approved in writing by Buyer, in its sole discretion, to purchase
mortgage backed securities from Seller and who issues an Agency Security Purchase Commitment relating to an Agency Security. Takeout Broker Dealers approved by Buyer may be listed in the Manual or specifically approved in an electronic communication
sent by Buyer to Seller. 
 “Takeout Commitment” means a written commitment, in form and substance satisfactory to Buyer,
issued in favor of Seller by a Takeout Investor pursuant to which such Takeout Investor commits to purchase one or more Mortgage Loans. The Takeout Commitment may take the form of (1) a “clear to close” approval from the Takeout
Investor confirming that such specific Mortgage Loans are approved for purchase by the Takeout Investor, (2) an automatic underwrite system “AUS” with a Seller internal clear to close per delegated authorities of the Takeout Investor,
(3) a mortgage insurer clear to close per delegated authorities of the Takeout Investor, (4) a clear to close approval issued by an FHA Direct Endorsement underwriter, or (5) another form approved by Buyer as set forth on the
Addendum. 
 “Takeout Investor” means any investor pre-approved in writing by Buyer, in its sole discretion, to purchase
Mortgage Loans from Seller and who issues a Takeout Commitment relating to a Mortgage Loan. Takeout Investors approved by Buyer are listed in an electronic form by the Buyer or electronically submitted by the Seller to the Buyer. 

  
 23 

 “Termination Date” has the meaning set forth on the Addendum or any other
earlier date determined by the Buyer in its sole discretion; provided, however, that in the case of an Event of Default hereunder, the date immediately upon which such Event of Default has occurred. 

“Transaction” has the meaning set forth in Section 1 hereof. 

“Transaction Request” means a request from Seller to Buyer to enter into a Transaction, submitted through Buyer’s
on-line warehouse loan system. 
 “Transmittal Letter” means a letter describing a Purchased Mortgage Loan delivered or to
be delivered to the Custodian hereunder, in the form attached to the Custodial Agreement. 
 “Trust Receipt” means, with
respect to any Transaction as of any date, a receipt and certification in the form attached as an exhibit to the Custodial Agreement. 

“UCC” means the Uniform Commercial Code as in effect on the Restatement Date in the State of New York or the Uniform
Commercial Code as in effect in the applicable jurisdiction. 
 “Underwriting Guidelines” means the standards, procedures
and guidelines of the Seller for underwriting and acquiring Mortgage Loans, which are set forth in the written policies and procedures of the Seller. 

“USDA” means the United States Department of Agriculture. 

“USDA Mortgage Loan” means a mortgage loan which is guaranteed by the USDA evidenced by a loan guaranty certificate. 

“US Treasury Security” means a negotiable debt obligation issued by the U.S. government for a specific amount and maturity,
with any related income being exempt from state and local tax income tax. 
 “VA” means the U.S. Department of Veterans
Affairs, an agency of the United States of America, or any successor thereto including the Secretary of Veterans Affairs. 
 “VA
Loan” means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or which is eligible for such VA Loan Guaranty Agreement and will be submitted for such loan guaranty certificate
immediately after its origination, or a Mortgage Loan which is a vender loan sold by the VA. 
 “VA Loan Guaranty
Agreement” means the obligation of the United States to pay a specific percentage of a Mortgage Loan (subject to a maximum amount) upon default of the Mortgagor pursuant to the Servicemen’s Readjustment Act, as amended. 

  
 24 

 “Wet-Ink Documents” means, with respect to any Wet-Ink Mortgage Loan, the
(a) Transaction Request, (b) the Mortgage Loan Schedule and (c) any other documents required by the Manual. 

“Wet-Ink Mortgage Loan” means a mortgage loan for which the Trust Receipt has not been issued as of the Purchase Date. 

“Wet-Ink Mortgage Loan Document Receipt Date” means the date that the Custodian receives the Mortgage Loan Documents for a
Wet-Ink Mortgage Loan which shall in no event be later than the date set forth on the Addendum. 
 “Wholesale Mortgage
Loan” means a mortgage loan which was submitted to Seller by a mortgage broker who is not an employee of Seller, but for which Seller’s funds were used as the Mortgage Loan proceeds at the closing, and for which Seller appears as the
lender on the Mortgage Note. 
 b. Headings are for convenience only and do not affect interpretation. The singular includes the plural and
conversely. Where a word or phrase is defined, its other grammatical forms have a corresponding meaning. A reference to a Section, Subsection, Paragraph, Subparagraph, Clause, Addendum, Annex, Schedule or Exhibit is, unless otherwise specified, a
reference to a Section, Subsection, Paragraph, Subparagraph or Clause of, or Addendum, Annex, Schedule or Exhibit to, this Agreement, all of which are hereby incorporated herein by this reference and made a part hereof. The word “any” is
not limiting and means “any and all” unless the context clearly requires or the language provides otherwise. In the computation of periods of time from a specified date to a later specified date, the word “from” means “from
and including,” the words “to” and “until” each mean “to but excluding,” and the word “through” means “to and including.” The words “will” and “shall” have the same meaning
and effect. A reference to day or days without further qualification means calendar days. Unless the context otherwise clearly requires, all accounting terms not expressly defined herein shall be construed in accordance with GAAP, and all accounting
determinations, financial computations and financial statements required hereunder shall be made in accordance with GAAP, without duplication of amounts, and on a consolidated basis with all Subsidiaries. 

3. Program; Initiation of Transactions 

a. From time to time, in the sole discretion of Buyer, (i) Buyer may purchase from Seller all right, title and interest in and to certain
Mortgage Loans (including, without limitation, the Servicing Rights) that have been either originated by Seller or, if approved by Buyer, purchased by Seller from other originators, and (ii) Buyer may purchase from Seller all right, title and
interest in and to certain Agency Securities. The Mortgage Loans shall be sold on a servicing-released basis. This Agreement is not a commitment by Buyer to enter into Transactions with Seller but rather sets forth the procedures to be used in
connection with periodic requests for Buyer to enter into Transactions with Seller. Seller hereby acknowledges that Buyer is under no obligation to agree to enter into, or to enter into, any Transaction pursuant to this Agreement. All
Purchased Mortgage Loans shall exceed or meet the Underwriting Guidelines, and shall be serviced by Servicer on the behalf of Buyer. The Aggregate Purchase Price shall not exceed the Maximum Aggregate Purchase Price. 

  
 25 

 b. With respect to each Transaction, Seller shall provide notice of a proposed sale and comply
with the procedures set forth in the Manual. Following receipt of such request, Buyer may enter into such requested Transaction or may notify Seller of its intention not to enter into such Transaction for any reason. In the event the Mortgage Loan
Schedule provided by Seller contains erroneous computer data, is not formatted properly or the computer fields are otherwise improperly aligned, Buyer shall provide written or electronic notice to Seller describing such error and Seller may either
(a) give Buyer written or electronic authority to correct the computer data, reformat the Mortgage Loans or properly align the computer fields or (b) correct the computer data, reformat or properly align the computer fields itself and
resubmit the Mortgage Loan Schedule as required herein. 
 In the event that the Seller gives Buyer authority to correct the computer data,
reformat the Mortgage Loan Schedule or properly align the computer fields, the Seller shall pay an amount set forth in the fee schedule attached to the Manual and any other direct expenses incurred by Buyer; provided, that upon thirty
(30) days’ notice to the Seller, Buyer may change such computer correction fee. The Seller shall hold Buyer harmless for such correction, reformatting or realigning, as applicable, except as otherwise expressly provided herein. 

In the event that Seller requires the return of any Collateral Documents, upon its execution of a release pursuant to the terms of the
Custodial Agreement, the Buyer may authorize the Custodian to deliver any Collateral Documents to the Seller for correction. The Seller shall be fully liable for any failure or delay in the return or handling of any documents delivered to the Seller
in accordance with the terms of such release. 
 c. Upon the satisfaction of the applicable conditions precedent set forth in
Section 9 hereof, all of Seller’s right, title and interest in the Purchased Assets shall pass to Buyer on the Purchase Date, against the transfer of the Purchase Price to Seller or through the transfer of the Purchase Price to an
Authorized Funds Recipient. The Purchased Assets shall be sold by the Seller to the Buyer on a servicing-released basis. In the event that Seller requests that the Buyer remit by wire transfer an amount in excess of the Purchase Price in connection
with the purchase of any Purchased Assets, such excess amount shall be remitted from the Seller’s Clearing Account to the Buyer, provided that such remittance does not leave the Seller’s Clearing Account with less than the Seller’s
Clearing Account Threshold. Upon transfer of the Purchased Assets to Buyer as set forth in this Section 3 and until termination of any related Transactions as set forth in Sections 4 or 15 of this Agreement, ownership of
each Purchased Asset, including each document in the related Mortgage File and Records, is vested in Buyer; provided that, prior to the recordation by the Custodian as provided for in the Custodial Agreement, record title in the name of Seller to
each Purchased Mortgage Loan shall be retained by Seller in trust, for the benefit of Buyer, for the sole purpose of facilitating the servicing and the supervision of the servicing of the Purchased Mortgage Loans. 

d. With respect to each Wet-Ink Mortgage Loan, by no later than 2:00 p.m. (New York City time) on the Wet-Ink Mortgage Loan Document Receipt
Date following the applicable Purchase Date, Seller shall deliver or cause the related Authorized Funds Recipient to deliver to the Custodian the remaining documents in the Mortgage File. 

  
 26 

 4. Repurchase 

a. Seller shall repurchase the related Purchased Assets from Buyer on each related Repurchase Date at the Repurchase Price. Such obligation to
repurchase exists without regard to any prior or intervening liquidation or foreclosure with respect to any Purchased Asset (but liquidation or foreclosure proceeds received by Buyer shall be applied to reduce the Repurchase Price for such Purchased
Asset on each Repurchase Date except as otherwise provided herein). Seller is obligated to repurchase and take physical possession of the Purchased Assets from Buyer or its designee (including the Custodian) at Seller’s expense on the related
Repurchase Date. 
 b. Provided that no Default shall have occurred and is continuing, and Buyer has received the related Repurchase Price
upon repurchase of the Purchased Assets, Buyer agrees to release its ownership interest hereunder in the Purchased Assets. With respect to payments in full by the related Mortgagor of a Purchased Mortgage Loan, Seller agrees to (i) immediately
provide Buyer with a copy of a report from the related Servicer indicating that such Purchased Mortgage Loan has been paid in full, (ii) remit to Buyer, within two (2) Business Days, the Repurchase Price with respect to such Purchased
Mortgage Loans and (iii) provide Buyer a notice specifying each Purchased Mortgage Loan that has been prepaid in full. Buyer agrees to release its ownership interest in Purchased Mortgage Loans which have been prepaid in full after receipt of
evidence of compliance with clauses (i) through (iii) of the immediately preceding sentence. 
 c. Seller shall
repurchase the related Purchased Agency Securities from Buyer on each related Repurchase Date at the Repurchase Price so long as the Purchased Agency Securities remain on the Buyer’s Federal Book Account and have not previously been purchased
by a Takeout Broker Dealer. 
 5. [Reserved.] 

6. Margin Maintenance 
 a.
If on any date, and at Buyer’s discretion, the product of either (A) the lesser of (i) the current Market Value of a Purchased Asset, or (ii) the unpaid principal balance underlying any individual Purchased Asset, times
the current Purchase Price Percentage for such Purchased Asset, or (B) the current Market Value of all Purchased Assets times the current Purchase Price Percentage for all Purchased Assets, is less than the then current Purchase Price
with respect to such Purchased Asset(s) as of such date (such deficit, a “Margin Deficit”), Buyer may provide notice to Seller (as such notice is more particularly set forth below and in Sections 6(b) and 6(c) below, a
“Margin Call”) of such Margin Deficit. 
 b. In connection with the issuance of a Margin Call, Buyer may, in Buyer’s
sole and absolute discretion, require Seller to (i) transfer cash to Buyer to satisfy the Margin Deficit, or (ii) repurchase the affected Purchased Asset(s) at the Repurchase Price if Buyer determines that such Purchased Asset is
ineligible. If Seller has not satisfied the Margin Deficit within the applicable Margin Deadline (as more particularly set forth in Section 6(c)), then Buyer may, in its sole and absolute discretion, either (i) notify Seller that
Buyer is exercising its rights to sell 

  
 27 

 
the affected Purchased Assets as more particularly set forth in Section 6(e) below or (ii) exercise its remedies under Section 15 hereof. In connection with exercising
remedies pursuant to this Section 6(b), Buyer shall apply funds received in connection with a Margin Call in such manner as Buyer determines to eliminate the Margin Deficit. If Buyer exercises its rights to sell the related Purchased
Assets as set forth in Section 6(e) and the proceeds of such sale are insufficient to satisfy the Margin Deficit, Buyer may in its discretion require Seller to transfer cash to Buyer to eliminate such Margin Deficit. Once a Margin
Deficit has been eliminated, the related Margin Call shall have been satisfied. 
 c. A Margin Call may be given by any written or electronic
means. Notice given before 10:00 a.m. (New York City time) on a Business Day shall be met, and the related Margin Deficit satisfied, no later than 5:00 p.m. (New York City time) on such Business Day or such later time as may be communicated by Buyer
to Seller in its sole discretion; notice given after 10:00 a.m. (New York City time) on a Business Day shall be met, and the related Margin Deficit satisfied, no later than 5:00 p.m. (New York City time) on the following Business Day or such later
time as may be communicated by Buyer to Seller in its sole discretion (the foregoing time requirements for satisfying a Margin Deficit, the “Margin Deadlines”). The failure of Buyer, on any one or more occasions, to exercise its
rights hereunder, shall not change or alter the terms and conditions to which this Agreement is subject or limit the right of Buyer to do so at a later date. Seller and Buyer each agree that a failure or delay by Buyer to exercise its rights
hereunder shall not limit or waive Buyer’s rights under this Agreement or otherwise existing by law or in any way create additional rights for Seller. Any late payments, other than those directly related to a Mortgage Loan or Agency Security,
shall accrue interest at rate equal to the Accounts Receivable Rate. Any late payments directly related to a Mortgage Loan shall accrue interest at the then applicable Loan Margin, or any late payments directly related to an Agency Security shall
accrue interest at the then applicable Agency Security Margin. 
 d. In the event that a Margin Deficit exists or any other funds are due and
payable to Buyer, Buyer may retain any funds received by it to which the Seller would otherwise be entitled hereunder or exercise control over any funds in the Seller’s Clearing Account and remit such funds to the Settlement Account, which
funds shall be held and applied by Buyer against such Margin Deficit, may be applied by Buyer against amounts due and owing, or any shortfall, with respect to any Purchased Asset. Notwithstanding the foregoing, the Buyer retains the right, in its
discretion, to make a Margin Call in accordance with the provisions of this Section 6. 
 e. If Buyer elects to exercise its
rights set forth in Section 6(b) above to sell the affected Purchased Assets, Buyer shall have the right to sell the affected Purchased Mortgage Loans (including, without limitation, the Servicing Rights) or Purchased Agency Securities.
Such disposition of a Purchased Mortgage Loan may be, at Buyer’s option, on either a servicing-released or a servicing-retained basis. Buyer shall not be required to give any warranties as to the Purchased Mortgage Loans or the Purchased Agency
Securities with respect to any such disposition thereof. Buyer may specifically disclaim or modify any warranties of title or the like relating to the Purchased Mortgage Loans or the Purchased Agency Securities. The foregoing procedure for
disposition of the Purchased Mortgage Loan or the Purchased Agency Security shall not be considered to adversely affect the commercial reasonableness of any sale thereof. Seller agrees that it would not be commercially unreasonable for Buyer to
dispose of the Purchased Mortgage Loan or Purchased Agency Security or any portion thereof by 

  
 28 

 
using Internet sites that provide for the auction of assets similar to the Purchased Mortgage Loan or the Purchased Agency Security, or that have the reasonable capability of doing so, or that
match buyers and sellers of assets. Buyer shall be entitled to place the Purchased Mortgage Loans in a pool for issuance of mortgage-backed securities at the then-prevailing price for such securities and to sell such securities for such prevailing
price in the open market. Buyer shall also be entitled to sell any or all of such Purchased Mortgage Loans individually for the prevailing price. 

7. Income Payments 
 a. If
Income is paid in respect of any Purchased Asset during the term of a Transaction, such Income shall be the property of Buyer. Upon notice from Buyer, or immediately upon the occurrence of an Event of Default, such Income (other than any Income
relating to prepayments of principal in full which shall be paid in accordance with Section 7(d) below) shall be deposited in the Collection Account by either the Seller or the applicable Servicer. All deposits contained in the
Collection Account (other than any Income relating to prepayments of principal in full which will be paid in accordance with Section 7(d) below) will be transferred to the Settlement Account on a monthly basis in accordance with
Section 11(c) or by the Buyer at any other time. 
 b. Prior to an Event of Default, upon the termination of any Transaction,
Buyer shall apply payments received from a Takeout Investor or Takeout Broker Dealer or otherwise, including those payments contemplated in Sections 6, 7(a) and 7(d), as follows (provided that Buyer shall have no obligation to
apply payments in the event that it is unable to identify the Purchased Mortgage Loans or Purchased Agency Securities to which such payments correspond or there are insufficient funds in the Settlement Account or the Seller’s Clearing Account,
and the related Repurchase Price will continue to accrue interest as if no payment had been made): 
 First, to the
payment of the Repurchase Price for each outstanding Purchased Asset owed by the Seller under this Agreement;  

Second, to the payment of all other amounts owed by the Seller under the Program Agreements;  

Third, to the payment of related costs and expenses owed under the Program Agreements, including reasonable compensation
to Buyer’s agents and counsel, and all expenses, liabilities and advances made or incurred by or on behalf of Buyer in connection therewith;  

Fourth, to the payment of any other amounts owed by the Seller or any Affiliate to the Buyer under any other instrument
or agreement, in accordance with Section 24;  
 Fifth, to the Servicer, if and only if such party
is a third party, costs and fees it is entitled to under the related Servicing Agreement; and  
 Sixth, to the
Seller, any remainder, by remittance to the Seller’s Clearing Account. 

  
 29 

 c. If an Event of Default has occurred, notwithstanding any provision set forth herein, Buyer may
apply Income contained in the Collection Account for the payment of all outstanding Obligations under this Agreement including, any related costs and expenses owed under the Program Agreements, including reasonable compensation to Buyer’s
agents and counsel, and all expenses, liabilities and advances made or incurred by or on behalf of Buyer in connection therewith. After all Obligations under this Agreement have been paid in full, Buyer may, in its sole discretion, distribute to
Seller any remaining Income; provided, however, that if Seller has failed to repurchase the Purchased Assets and Buyer has exercised its rights in a “deemed sale” of the Purchased Assets as set forth in Section 15
herein, then Seller shall not be entitled to any remaining Income. 
 d. Seller shall, or cause Servicer to, deposit within two
(2) Business Days after the receipt of any prepayment of principal in full into the Collection Account, with respect to a Purchased Mortgage Loan. Buyer shall apply upon receipt any such amount to reduce the amount of the Repurchase Price due
upon termination of the related Transaction. 
 e. Notwithstanding anything to the contrary set forth herein, to the extent that any Income
(excluding principal prepayments in full) is not deposited in the Collection Account, upon notice by Buyer to Seller, Seller shall immediately remit to the Settlement Account all such Income received by Servicer or Seller in respect of the Purchased
Assets. 
 8. Payment and Transfer 

Unless otherwise mutually agreed in writing, all transfers of funds to be made by the Seller, the Takeout Investor or Takeout Broker Dealer
hereunder shall be made in Dollars, in immediately available funds, without deduction, set-off or counterclaim, to Buyer at the Settlement Account or such other account as Buyer shall specify to Seller, Takeout Investor or Takeout Broker Dealer in
writing. Seller acknowledges that it has no rights of withdrawal from the Settlement Account; however, Buyer, in its discretion, may, by written notice, allow Seller to withdraw money from the Settlement Account in accordance with the terms of the
Manual. All Purchased Assets shall be evidenced by a Purchase Confirmation. Any Repurchase Price received by Buyer in the Settlement Account after 2:00 p.m. (New York City time) shall be deemed received on the next succeeding Business Day. From time
to time, the Seller may request in writing that a wire transfer be made from the Seller’s Clearing Account and Buyer may approve such request (provided that the Seller’s Clearing Account Threshold is maintained and there are sufficient
funds remaining to satisfy any other amounts that are currently due and payable under this Agreement). Upon approval of such a request, the Buyer will remit funds to Seller’s Account for Remittance. 

9. Conditions Precedent 

a. Initial Transaction. As conditions precedent to the initial Transaction, Buyer shall have received on or before the day of such
initial Transaction the following, in form and substance satisfactory to Buyer and duly executed by each Seller where applicable, each Guarantor and each other party thereto: 

  
 30 

 (1) Program Agreements. The Program Agreements duly executed and delivered
by the parties thereto and being in full force and effect, free of any modification, breach or waiver, except with respect to the Electronic Tracking Agreement, which shall be duly executed and delivered by the parties thereto and shall be in full
force and effect, free of any modification, breach or waiver within thirty (30) days of the Effective Date. 
 (2)
Security Interest. Evidence that all other actions necessary or, in the opinion of Buyer, desirable to perfect and protect Buyer’s interest in the Purchased Mortgage Loans, Purchased Agency Securities and other Purchased Assets have been
taken, including, without limitation, duly authorized and filed UCC financing statements on Form UCC 1. 
 (3) Governing
Documents. A certificate of a Responsible Officer of Seller substantially in the form of Exhibit B hereto, attaching certified copies of Seller’s Governing Documents and corporate or other resolutions approving the Program Agreements
and transactions thereunder (either specifically or by general resolution) and all documents evidencing other necessary corporate action or governmental approvals as may be required in connection with the Program Agreements. 

(4) Good Standing Certificate. A certified copy of a good standing certificate from the jurisdiction of organization of
Seller, dated as of no earlier than the date which is thirty (30) days prior to the Restatement Date with respect to the initial Transaction hereunder. 

(5) Incumbency Certificate. An incumbency certificate of the corporate secretary, general partner or other similar
person of each Seller, substantially in the form of Exhibit E hereto, certifying the names, true signatures and titles of the representatives duly authorized to request transactions hereunder and to execute the Program Agreements. 

(6) Underwriting Guidelines. A true and correct copy of the Underwriting Guidelines of the Seller. 

(7) Legal Opinion. Seller shall provide a legal opinion in form and substance acceptable to Buyer. 

(8) Fees. Payment of any fees due to Buyer hereunder. 

(9) Manual. Seller shall have received, reviewed and agreed to comply with the Manual. 

(10) Collection Account. Evidence that the Collection Account has been established by the Seller or the Servicer, and
the fully executed Collection Account Control Agreement. 
 (11) Settlement Account. The Settlement Account has been
established by Buyer. 

  
 31 

 (12) Seller’s Clearing Account. Evidence that the Seller’s
Clearing Account has been established by the Seller and contains at least the Seller’s Clearing Account Threshold, and the fully executed Seller’s Clearing Account Control Agreement. 

(13) Reserve Account. Evidence that the Reserve Account has been established, per the terms of the Addendum, and
contains at least the Reserve Account Threshold, and the fully executed Reserve Account Control Agreement. 
 b. All
Transactions. Buyer will not enter into a Transaction unless all of the following conditions precedent are satisfied: 

(1) Due Diligence Review. Without limiting the generality of Section 34 hereof, Buyer shall have completed,
to its satisfaction, its due diligence review of the related Purchased Mortgage Loans and Purchased Agency Securities and each Seller, each Guarantor and the Servicer. 

(2) Required Documents. 

(a) With respect to each Purchased Mortgage Loan which is not a Wet-Ink Mortgage Loan, the Mortgage File has been delivered to
the Custodian (i) with respect to any purchase of twenty-five (25) or fewer Mortgage Loans on a single Purchase Date, on or prior to 10:30 a.m. (New York City time) on the Purchase Date, and (ii) with respect to any purchase of
twenty-six (26) or more Mortgage Loans on a single Purchase Date, at least twenty-four (24) hours prior to the Purchase Date; 

(b) With respect to each Wet-Ink Mortgage Loan, the Wet-Ink Documents have been delivered to Buyer or Custodian, as the
case may be, by 2:00 p.m. (New York City time) on the Purchase Date; and 
 (c) With respect to each Purchased Agency
Security, necessary deliveries as specified in the Manual. 
 (3) Transaction Documents. Buyer or its designee shall
have received, within the timeframe specified in the Manual, the following, in form and substance satisfactory to Buyer and (if applicable) duly executed: 

(a) A Transaction Request and a Takeout Commitment or an Agency Security Commitment. 

(b) The related Mortgage Loan Schedule, and the Trust Receipt. 

(c) Any other documents required to be delivered by the Manual. 

(d) Such certificates, opinions of counsel or other documents as Buyer may reasonably request. 

(4) No Default. No Default shall have occurred and be continuing; 

  
 32 

 (5) Requirements of Law. Buyer shall not have determined that the
introduction of or a change in any Requirements of Law or in the interpretation or administration of any Requirements of Law applicable to Buyer has made it unlawful, and no Governmental Authority shall have asserted that it is unlawful, for Buyer
to enter into the Transactions contemplated by this Agreement. 
 (6) Representations and Warranties. Both immediately
prior to the related Transaction and also after giving effect thereto and to the intended use thereof, the representations and warranties (excluding, the representations and warranties set forth on Schedule 1, which shall result in a Margin
Call or repurchase in the event of a breach) made by Seller in each Program Agreement shall be true, correct and complete on and as of such Purchase Date in all material respects with the same force and effect as if made on and as of such date (or,
if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date). 

(7) Electronic Tracking Agreement. To the extent Seller is selling Mortgage Loans which are registered on the MERS® System, an Electronic Tracking Agreement entered into, duly executed and delivered by the parties thereto and being in full force and effect, free of any modification, breach or waiver within
thirty (30) days of the Effective Date. 
 (8) Material Adverse Change. None of the following shall have occurred
and/or be continuing: 
 (a) there shall have occurred a material adverse change in the financial condition of Buyer which
causes, or would be likely to cause, a material adverse effect on the ability of the Buyer to fund its obligations under this Agreement, including, but not limited to, Buyer’s corporate bond rating, if applicable, as calculated by a NRSRO has
been lowered or downgraded to a rating below investment grade by such NRSRO. 
 (b) an event or events shall have occurred
in the good faith determination of Buyer resulting in: (i) the effective absence of a “repo market” or comparable “lending market” for financing debt obligations secured by mortgage loans or securities or an event or events
shall have occurred resulting in Buyer not being able to finance Purchased Mortgage Loans through the “repo market” or “lending market” with traditional counterparties at rates which would have been reasonable prior to the
occurrence of such event or event; or (ii) the effective absence of a “whole loan market”, “securities market” for securities backed by mortgage loans or an event or events shall have occurred, resulting in Buyer not being
able to sell whole loans or securities backed by mortgage loans at prices which would have been reasonable prior to such event or event. 

(9) Manual. Seller shall have received and reviewed any changes to the Manual since the initial closing hereunder. 

  
 33 

 (10) Seller’s Clearing Account. Evidence that the Seller’s
Clearing Account contains at least the Seller’s Clearing Account Threshold. 
 (11) Reserve Account. Evidence
that the Reserve Account, established pursuant to the terms of the Addendum, contains at least the Reserve Account Threshold. 
 c. The
failure of Seller to satisfy any of the conditions precedent in this Section 9 with respect to any Transaction or Purchased Asset shall, unless such failure was waived in writing by Buyer on or before the related Purchase Date, give rise
to the right of Buyer at any time to rescind the related Transaction, whereupon Seller shall immediately pay to Buyer the Repurchase Price of such Purchased Asset. 

10. Program; Costs 
 a.
Seller shall reimburse Buyer for any of Buyer’s reasonable out of pocket costs, including due diligence review costs and reasonable attorney’s fees, incurred by Buyer in determining the acceptability to Buyer of any Mortgage Loans or
Agency Securities or incurred in connection with entering into, amending or modifying the Program Agreements. Seller shall also pay, or reimburse Buyer if Buyer shall pay, any termination fee, which may be due any Servicer. Seller shall pay the fees
and expenses of Buyer’s counsel in connection with the Program Agreements. Further, Seller shall pay, or reimburse Custodian for, any shipping costs incurred by Custodian upon delivery of an invoice following the delivery by Custodian of
certain Mortgage Files relating to the Purchased Mortgage Loans. Legal fees for any subsequent amendments to this Agreement or related documents shall be borne by Seller. Seller shall pay ongoing custodial and bank fees and any other fees and
expenses as set forth on the Addendum, and any other ongoing fees and expenses under any other Program Agreements. Seller shall indemnify, hold harmless and defend the Custodian with respect to any damages or costs and expenses incurred by the
Custodian. The Custodian shall be considered a third party beneficiary of the rights set forth in the prior sentence. Any of the foregoing fees shall be invoiced and delivered to the Seller and must be paid by the due date. If there is no due date
specified on the invoice, the invoice amount is due within thirty (30) days. Any late payment will accrue interest at the Accounts Receivable Rate. 

b. If Buyer determines that, due to the introduction of, any change in, or the compliance by Buyer with the interpretation of any law,
regulation or any guideline or request from any central bank or other Governmental Authority (whether or not having the force of law), there shall be an increase in the cost to Buyer in engaging in the present or any future Transactions, then Seller
agrees to pay to Buyer, from time to time, upon demand by Buyer the actual cost of additional amounts as specified by Buyer to compensate Buyer for such increased costs. 

c. With respect to any Transaction, Buyer may conclusively rely upon, and shall incur no liability to Seller in acting upon, any request or
other communication that Buyer reasonably believes to have been given or made by a person authorized to enter into a Transaction on Seller’s behalf, whether or not such person is listed on the certificate delivered pursuant to
Section 9(a)(5) hereof. In each such case, Seller hereby waives the right to dispute Buyer’s record of the terms of the Purchase Confirmation, request or other communication. 

  
 34 

 d. Notwithstanding the assignment of the Mortgage Loan Documents and any other agreements that
relate to Mortgage Loans with respect to each Purchased Asset to Buyer, Seller agrees and covenants with Buyer to enforce diligently Seller’s rights and remedies set forth in the Program Agreements. 

e. Any payments made by Seller or Guarantor to Buyer shall be free and clear of, and without deduction or withholding for, any taxes;
provided, however, that if such payer shall be required by law to deduct or withhold any taxes from any sums payable to Buyer, then such payer shall (A) make such deductions or withholdings and pay such amounts to the relevant
authority in accordance with applicable law, (B) pay to Buyer the sum that would have been payable had such deduction or withholding not been made, and (C) at the time Price Differential is paid, pay to Buyer all additional amounts as
specified by Buyer to preserve the after-tax yield Buyer would have received if such tax had not been imposed, and otherwise indemnify Buyer for any such taxes imposed (and, costs and expenses, if any, related thereto). 

11. Servicing 
 a. Seller,
on Buyer’s behalf, shall contract with Servicer to, or if Seller is the Servicer, Seller shall, interim service the Mortgage Loans consistent with the degree of skill and care that Seller customarily requires with respect to similar Mortgage
Loans owned or managed by it and in accordance with Accepted Servicing Practices. The Servicer shall (i) comply with all applicable Federal, State and local laws and regulations, (ii) maintain all state and federal licenses necessary for
it to perform its servicing responsibilities hereunder and (iii) not impair the rights of Buyer in any Mortgage Loans or any payment thereunder. 

b. Seller shall, or shall cause the Servicer to, hold or cause to be held all escrow funds collected by Servicer with respect to any Purchased
Mortgage Loans in segregated trust accounts, separate and apart from any of Seller’s corporate funds, and shall apply the same for the purposes for which such funds were collected. 

c. Seller shall, or shall cause the Servicer to, deposit all Income, excluding any prepayments in full as set forth in
Section 7(d), received by Servicer on the Purchased Assets in the Collection Account no later than the fifth (5th) Business Day following receipt; provided, however,
that any amounts required to be remitted to Buyer shall be deposited in the Collection Account on or prior to the day on which such remittance is to occur. Any such amounts deposited in the Collection Account shall then be remitted to the Settlement
Account on a monthly basis, on the fifth (5th) calendar day (or next succeeding Business Day in the event that any such calendar day is not a Business Day), and on any other day Buyer directs
such a transfer in its discretion. 
 d. If any Mortgage Loan that is proposed to be sold on a Purchase Date is serviced by a servicer other
than Seller, or if the servicing of any Purchased Mortgage Loan is to be transferred from Seller to a Servicer other than Seller, Seller shall, prior to such Purchase Date or servicing transfer date, as applicable, provide to Buyer the related
Servicing Agreement and a servicer notice or letter agreement, executed by Buyer, Seller and such Servicer (each, a “Servicer Side Letter”), in form and substance substantially similar to Exhibit F hereto. 

  
 35 

 e. The Buyer shall have the right to immediately terminate the Servicer’s right to service
the Purchased Mortgage Loans under the Servicing Agreement without payment of any penalty or termination fee. Seller and the Servicer shall cooperate in transferring the servicing and all Records of the Purchased Mortgage Loans to a successor
servicer appointed by Buyer in its discretion. 
 f. If Seller should discover that, for any reason whatsoever, Seller or any entity
responsible to Seller for managing or servicing any such Purchased Mortgage Loan has failed to perform fully Seller’s obligations under the Program Agreements or any of the obligations of such entities with respect to the Purchased Mortgage
Loans, Seller shall promptly notify Buyer and promptly remedy any non-compliance. 
 g. The Servicer’s rights and obligations to interim
service the Purchased Mortgage Loans shall terminate on the twentieth (20th) day of each calendar month (and if such day is not a Business Day, the next succeeding Business Day), unless
otherwise directed in writing by the Buyer prior to such date. For purposes of this provision, notice provided by electronic mail shall constitute written notice. Upon termination, the Servicer shall transfer servicing, including, without
limitation, delivery of all servicing files to the designee of the Buyer. The Servicer’s delivery of servicing files shall be in accordance with Accepted Servicing Practices. The Seller and Servicer shall have no right to select a subservicer
or successor servicer. After the servicing terminates and until the servicing transfer date, the Servicer shall service the Purchased Mortgage Loans in accordance with the terms of this Agreement and for the benefit of the Buyer. 

h. If Seller at any time uses or intends to use, as applicable, an independent third party subservicer to fulfill its obligations as Servicer
hereunder, Seller shall, prior to the related Purchase Date or servicing transfer date, as applicable, (i) provide Buyer with the related Servicing Agreement pursuant to which such subservicer shall service such Mortgage Loans, which Servicing
Agreement shall be acceptable to Buyer in all respects, (ii) obtain Buyer’s prior written consent to the use of such subservicer in the performance of such servicing duties and obligations, which consent may be withheld in Buyer’s
sole discretion and (iii) provide Buyer with a fully executed Servicer Side Letter with respect to such subservicer. In no event shall Seller’s use of a subservicer relieve Seller of its obligations hereunder, and Seller shall remain
liable under this Agreement as if Seller were servicing such Mortgage Loans directly. 
 i. Seller hereby agrees and acknowledges, and shall
cause any third-party subservicer to agree and acknowledge, that Buyer or its designees shall have the right to conduct examinations and audits of the Servicer with respect to the servicing of the Purchased Mortgage Loans. Buyer shall also have the
right to obtain copies of all Records and files of the Servicer relating to the Purchased Assets, including all documents relating to the Purchased Mortgage Loans and the servicing thereof. 

  
 36 

 12. Representations and Warranties  

a. Each Seller represents and warrants to Buyer as of the Effective Date and at all times thereafter: 

(1) Due Organization and Qualification. Seller is duly organized, validly existing and in good standing under the laws
of the jurisdiction under whose laws it is organized. Seller is duly qualified to do business, is in good standing and has obtained all necessary licenses, permits, charters, registrations and approvals necessary for the conduct of its business as
currently conducted and the performance of its obligations under the Program Agreements except where any failure to obtain such a license, permit, charter, registration or approval would not cause or be likely to cause a Material Adverse Effect or
impair the enforceability of any Purchased Asset. 
 (2) Power and Authority. Seller has all necessary power and
authority to conduct its business as currently conducted, to execute, deliver and perform its obligations under the Program Agreements, any electronic transmissions contemplated hereunder, and to consummate the Transactions. 

(3) Due Authorization. The execution, delivery and performance of the Program Agreements, any electronic transmissions
contemplated hereunder, by Seller have been duly authorized by all necessary action and do not require any additional approvals or consents or other action by or any notice to or filing with any Person other than any that have heretofore been
obtained, given or made. 
 (4) Non-contravention. None of the execution and delivery of the Program Agreements, any
electronic transmissions contemplated hereunder, by Seller or the consummation of the Transactions and transactions thereunder: 

(a) conflicts with, breaches or violates any provision of the Governing Documents or material agreements of Seller or any law,
rule, regulation, order, writ, judgment, injunction, decree, determination or award currently in effect having applicability to Seller or its properties; 

(b) constitutes a material default by Seller under any loan or repurchase agreement, mortgage, indenture or other
agreement or instrument to which Seller is a party or by which it or any of its properties is or may be bound or affected; or 

(c) results in or requires the creation of any lien upon or in respect of any of the assets of Seller except the lien
relating to the Program Agreements. 
 (5) Legal Proceeding. There is no action, proceeding or investigation by or
before any court, governmental or administrative agency or arbitrator affecting any of the Purchased Assets, Seller or any of its Affiliates, pending or threatened, which, if decided adversely, would have a Material Adverse Effect. 

  
 37 

 (6) Valid and Binding Obligations. Each of the Program Agreements, and any
electronic transmissions contemplated hereunder, to which Seller is a party, when executed and delivered by Seller, will constitute the legal, valid and binding obligations of Seller, enforceable against Seller, in accordance with their respective
terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and general equitable principles (regardless of whether enforcement is sought
in a proceeding in equity or at law). 
 (7) Financial Statements. The financial statements of Seller, copies of which
have been furnished to Buyer, (i) are, as of the dates and for the periods referred to therein, complete and correct in all material respects, (ii) present fairly the financial condition and results of operations of Seller as of the dates
and for the periods indicated and (iii) have been prepared in accordance with GAAP consistently applied, except as noted therein (subject as to interim statements to normal year-end adjustments). Since the date of the most recent financial
statements, there has been no event or circumstance that would be likely to cause a Material Adverse Effect with respect to Seller. Except as disclosed in such financial statements, Seller is not subject to any contingent liabilities or commitments
(including, but not limited to, any potential or current repurchase demands, any potential or current indemnification claims or notice of any actual or potential fines or penalty fees) that, individually or in the aggregate, have a possibility of
causing a Material Adverse Effect with respect to Seller. 
 (8) Accuracy of Information. Neither this Agreement nor
any of the documents or information prepared by or on behalf of Seller and provided by Seller to Buyer contain any statement of a material fact with respect to Seller or the Transactions that was untrue or misleading in any material respect when
made. Since Seller’s initial discussions with Buyer regarding the terms of this Agreement and the furnishing of such documents or information, there has been no change, nor any development or event involving a prospective change known to
Seller, that would (i) render any of the Program Agreements, such documents or information untrue or misleading in any material respect or (ii) adversely affect the property, business, operations or conditions (financial or otherwise) of
Seller. 
 (9) No Consents. No consent, license, approval or authorization from, or registration, filing or
declaration with, any Governmental Authority, nor any consent, approval, waiver or notification of any creditor, lessor or other non-governmental person, is required in connection with the execution, delivery and performance or consummation by
Seller of this Agreement or any other Program Agreements, other than any that have heretofore been obtained, given or made. 

(10) Compliance With Law, Etc. Seller has complied in all respects with all Requirements of Laws. None of Seller,
Guarantor or any Affiliate of Seller or Guarantor (a) is an “enemy” or an “ally of the enemy” as defined in the Trading with the Enemy Act of 1917, (b) is in violation of any Anti-Terrorism Laws, (c) is a blocked
person described in Section 1 of Executive Order 13224 or to its knowledge engages in any dealings or transactions or is otherwise associated with any such blocked person, (d) is in violation of

  
 38 

 
any country or list based economic and trade sanction administered and enforced by OFAC, (e) is a Sanctioned Entity, (f) has more than 10% of its assets located in Sanctioned Entities,
or (g) derives more than 10% of its operating income from investments in or transactions with Sanctioned Entities. The proceeds of any Transaction have not been and will not be used to fund any operations in, finance any investments or
activities in or make any payments to a Sanctioned Entity. None of Seller, Guarantor or any Affiliate of Seller or Guarantor (a) is a “broker” or “dealer” as defined in, or could be subject to a liquidation proceeding under,
the Securities Investor Protection Act of 1970, or (b) is subject to regulation by any Governmental Authority limiting its ability to incur the Obligations. Each of Seller, Guarantor and all of their respective Affiliates are in compliance with
the Foreign Corrupt Practices Act of 1977 and any foreign counterpart thereto. None of Seller, Guarantor or any Affiliate of Seller or Guarantor has made, offered, promised or authorized a payment of money or anything else of value (a) in order
to assist in obtaining or retaining business for or with, or directing business to, any foreign official, foreign political party, party official or candidate for foreign political office, (b) to any foreign official, foreign political party,
party official or candidate for foreign political office, or (c) with the intent to induce the recipient to misuse his or her official position to direct business wrongfully to Seller, Guarantor, any Affiliate of Seller or Guarantor or any
other Person, in violation of the Foreign Corrupt Practices Act of 1977. 
 (11) Solvency; Fraudulent Conveyance.
Seller is solvent and will not be rendered insolvent by any Transaction and, after giving effect to each such Transaction, each Seller will not be left with an unreasonably small amount of capital with which to engage in its business. Seller does
not intend to incur, or believe that it has incurred, debts beyond its ability to pay such debts as they mature. Seller and, if applicable, the Manager, the General Partner and the Limited Partner, is not contemplating the commencement of
insolvency, bankruptcy, liquidation or consolidation proceedings or the appointment of a receiver, liquidator, conservator, trustee or similar official in respect of Seller or any of its assets. The amount of consideration being received by Seller
upon the sale of the Purchased Assets to Buyer constitutes reasonably equivalent value and fair consideration for such Purchased Assets. Seller is not transferring any Purchased Assets with any intent to hinder, delay or defraud any of its
creditors. 
 (12) Investment Company Act Compliance. Seller is not required to be registered as an “investment
company” as defined under the Investment Company Act nor as an entity under the control of an “investment company” as defined under the Investment Company Act. 

(13) Taxes. Seller has filed all federal and state tax returns which are required to be filed and paid all taxes
(including, without limitation, any applicable franchise taxes), including any assessments received by it, to the extent that such taxes have become due (other than for taxes that are being contested in good faith or for which it has established
adequate reserves). Any taxes, fees and other governmental charges payable by Seller, or which otherwise have become due, in connection with a Transaction and the execution and delivery of the Program Agreements have been paid. 

  
 39 

 (14) Additional Representations. With respect to each Purchased Mortgage
Loan, Seller hereby makes all of the applicable representations and warranties set forth in Schedule 1 hereto as of the related Purchase Date and continuously while such Purchased Mortgage Loan is subject to a Transaction. Further, as of each
Purchase Date, Seller shall be deemed to have represented and warranted in like manner that Seller has no knowledge that any such representation or warranty may have ceased to be true in a material respect as of such date, except as otherwise stated
in a transaction notice (as referenced in the Manual), any such exception to identify the applicable representation or warranty and specify in reasonable detail the related knowledge of Seller. In addition, Seller agrees to make the representations
and warranties set forth in Schedule 1 hereto as of the “cutoff date” of the securitization or whole loan sale of the related Mortgage Loans by Seller or Buyer, as applicable; provided, however, that to the extent that
Seller has at the time of such securitization or whole loan sale actual knowledge of any facts or circumstances that would render any of such representations and warranties materially false, Seller shall have no obligation to make such materially
false representation and warranty. 
 (15) No Broker. Seller has not dealt with any broker, investment banker, agent,
or other person, except for Buyer, who may be entitled to any commission or compensation in connection with the sale of Purchased Assets pursuant to this Agreement; provided, that if Seller has dealt with any broker, investment banker, agent,
or other person, except for Buyer, who may be entitled to any commission or compensation in connection with the sale of Purchased Assets pursuant to this Agreement, such commission or compensation shall have been paid in full by Seller. 

(16) Hedging. Seller has entered into hedge or swap agreements pursuant to its customary hedging procedures and in
accordance with Seller’s policies and procedures. 
 (17) Takeout Commitment and Agency Security Purchase
Commitment. If required by Buyer prior to entering into a Transaction, Seller has entered into the required Takeout Commitment for each Purchased Mortgage Loan. If not required by Buyer prior to entering into a Transaction, Seller shall enter
into a Takeout Commitment with a Takeout Investor for each Purchased Mortgage Loan upon Buyer’s request. Such Takeout Commitment shall be irrevocable in full force and effect and fully enforceable against such Takeout Investor. If required by
Buyer prior to entering into a Transaction, Seller shall enter into the required Agency Security Purchase Commitment for each Purchased Agency Security. If not required by Buyer prior to entering into a Transaction, Seller shall enter into an Agency
Security Purchase Commitment with a Takeout Broker Dealer for each Purchased Agency Security upon Buyer’s request. Such Agency Security Purchase Commitment shall be irrevocable in full force and effect and fully enforceable against such Takeout
Broker Dealer. 
 (18) Regulation U. Seller is not engaged principally, or as one of its major activities, in the
business of extending credit for the purpose of purchasing or carrying Margin Stock, and no part of the proceeds of any Transactions hereunder will be used to purchase or carry any Margin Stock or to extend credit to others for the purpose of
purchasing or carrying any Margin Stock. 

  
 40 

 (19) ERISA. Each employee benefit plan as defined in Section 3(3) of
ERISA sponsored or maintained by Seller or any ERISA Affiliate or with respect to which Seller or any ERISA Affiliate has any liability, contingent or otherwise, is in material compliance with all applicable provisions of ERISA and the Code except
as would not reasonably be expected to cause a Material Adverse Effect. Neither Seller nor any ERISA Affiliate has engaged in a non-exempt prohibited transaction within the meaning of Section 406 of ERISA or Section 4975 of the Code. No
ERISA Event has occurred and no condition exists which presents a material risk to Seller or any Affiliate of incurring a liability, fine or penalty with respect to or on account of any Plan or Multiemployer Plan pursuant to Title IV of ERISA except
to the extent any such condition would not reasonably be expected to result in a Material Adverse Effect. 
 (20) Other
Approvals. Seller is licensed as a mortgage lender in the state in which the related Mortgaged Property is located (to the extent such state has licensing requirements), with the facilities, procedures and experienced personnel necessary for the
sound servicing of mortgage loans of the same type as the Purchased Mortgage Loans, and no event has occurred, including but not limited to a change in insurance coverage, any notice of any fines, penalty charges or other regulatory action, which
would make Seller unable to comply with applicable Agency and HUD eligibility requirements or relevant state licensing requirements which would require notification to any Agency and HUD or the related state regulatory authority. 

(21) Subsidiaries and Trade Names. Seller, and, if applicable, the Manager, the General Partner and Limited Partner,
have no Subsidiaries, Affiliates or trade names other than those listed on the Addendum as of the date of the Addendum, or if a Subsidiary, Affiliate or trade name is established after the date of this Agreement, as provided to Buyer in the
immediately following Officer’s Compliance Certificate. 
 (22) Other Credit Facilities and Debts. Seller is not
an obligor under any master repurchase facilities or similar warehouse facilities that are not listed on the Addendum or on the schedule to the most recent Officer’s Compliance Certificate. Seller has notified its other lenders with respect to
this Agreement, to the extent that such notification is necessary. 
 (23) Title to Properties. Seller has good, valid
insurable (in the case of real property) and marketable title to all of its properties and assets. 
 (24) Additional
Covenants and Conditions. All of the Additional Covenants and Conditions are true and correct at all times, and continue to be maintained as set forth in the Addendum. 

b. The representations and warranties set forth in this Agreement shall survive transfer of the Purchased Assets to Buyer and shall continue
for so long as the Purchased Assets are subject to this Agreement. 

  
 41 

 13. Covenants 

Each Seller covenants with Buyer that, at all times during the term of this facility: 

a. Litigation. Seller will promptly, and in any event within ten (10) Business Days after service of process on any of the
following, give to Buyer notice of all litigation, actions, suits, arbitrations, investigations (including, without limitation, any of the foregoing which are threatened or pending) or other legal or arbitrable proceedings affecting Seller or any of
its Subsidiaries or affecting any of the Property of any of them before any Governmental Authority that (i) questions or challenges the validity or enforceability of any of the Program Agreements or any action to be taken in connection with the
transactions contemplated hereby, (ii) makes a claim individually in an amount greater than the Individual Claim Threshold or in an aggregate amount greater than the Aggregate Claim Threshold, or (iii) which, individually or in the
aggregate, if adversely determined, could be reasonably likely to have a Material Adverse Effect. Seller will promptly provide notice of any judgment, which with the passage of time, could cause an Event of Default hereunder. 

b. [Reserved.] 
 c.
[Reserved.] 
 d. Servicer; Asset Tape. Upon the occurrence of any of the following (a) the occurrence and continuation of
an Event of Default, (b) upon any Purchased Mortgage Loan exceeding its Maximum Transaction Duration, or (c) upon the request of Buyer, Seller shall cause Servicer to provide to Buyer, electronically, in a format mutually acceptable to
Buyer and Seller, an Asset Tape by no later than the Reporting Date or within two (2) Business Days following request from Buyer. Seller shall not cause the Purchased Mortgage Loans to be serviced by any servicer other than a servicer expressly
approved in writing by Buyer. 
 e. Maintenance of Insurance. The Seller shall continue to maintain, for Seller and its Subsidiaries,
with responsible companies, at its own expense, the Required Insurance Policy, in each case, in a form acceptable to Buyer, with broad coverage on all officers, employees or other persons (if applicable, including, without limitation, employees or
other person of the Manager or the General Partner who act on behalf of Seller in handling funds, money, documents or papers relating to the Purchased Assets) (“Seller Employees”) acting in any capacity requiring such persons to
handle funds, money, documents or papers relating to the Purchased Assets, with respect to any claims made in connection with all or any portion of the Purchased Assets. Any such Required Insurance Policy shall protect and insure the Seller against
losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employees, and such policies also shall protect and insure the Seller against losses in connection with the release or satisfaction of a
Purchased Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 13(e) requiring such Required Insurance Policy shall diminish or relieve the Seller from its duties and
obligations as set forth in this Agreement. The minimum coverage under any such Required Insurance Policy shall be at least equal to the Required Insurance Amount as set forth on the Addendum. Upon the request of the Buyer, the Seller shall cause to
be delivered to the Buyer a certificate of insurance for such Required Insurance Policy, which shall not have an expiration date that is less than thirty (30) days after the date of such certificate. Seller shall name Buyer as a loss payee
under any applicable Fidelity Insurance Policy and as a direct loss payee with right of action under any applicable Errors and Omissions Insurance Policy or Professional Liability Insurance Policy. 

  
 42 

 f. No Adverse Claims. Seller warrants and will defend, and shall cause any Servicer to
defend, the right, title and interest of Buyer in and to all Purchased Assets against all Liens and any other adverse claims and demands. 

g. Assignment. Except as permitted herein, neither Seller nor any Servicer shall sell, assign, transfer or otherwise dispose of, or
grant any option with respect to, or pledge, hypothecate or grant a security interest in or lien on or otherwise encumber (except pursuant to the Program Agreements), any of the Purchased Assets or any interest therein, provided, that this
Section 13(g) shall not prevent any transfer of Purchased Assets in accordance with the Program Agreements. 
 h. Security
Interest. Seller shall do all things necessary to preserve the Purchased Assets so that they remain subject to a first priority perfected security interest hereunder. Without limiting the foregoing, Seller will comply with all rules, regulations
and other laws of any Governmental Authority and cause the Purchased Assets to comply with all applicable rules, regulations and other laws. Seller will not allow any default for which Seller is responsible to occur under any Purchased Assets or any
Program Agreement and Seller shall fully perform or cause to be performed when due all of its obligations under any Purchased Assets and any Program Agreement. 

i. Records. 

(1) Seller shall collect and maintain or cause to be collected and maintained all Records relating to the Purchased Mortgage
Loans in accordance with industry custom and practice for assets similar to the Purchased Mortgage Loans, including those maintained pursuant to the preceding subparagraph, and all such Records shall be in Custodian’s possession unless
Buyer otherwise approves. Seller will not consent to or request any such papers, records or files that are an original or an only copy to leave Custodian’s possession, except for individual items removed in connection with servicing a specific
Mortgage Loan, in which event Seller will obtain or cause to be obtained a receipt from a financially responsible person for any such paper, record or file. Seller or the Servicer of the Purchased Mortgage Loans will maintain all such Records not in
the possession of Custodian in good and complete condition in accordance with industry practices for assets similar to the Purchased Mortgage Loans and preserve them against loss. 

(2) For so long as Buyer has an interest in or lien on any Purchased Mortgage Loan, Seller will hold or cause to be held all
related Records in trust for Buyer. Seller shall notify, or cause to be notified, every other party holding any such Records of the interests and liens in favor of Buyer granted hereby. 

(3) Upon reasonable advance notice from Custodian or Buyer, Seller or Servicer, if such files are in the Servicer’s
possession, shall (x) provide Buyer or Custodian with a certified copy of all Records, (y) make any such Records available to Custodian or Buyer to examine any such Records, either by its own officers or employees, or by agents or
contractors, or both, and make copies of all or any portion thereof, and (z) permit Buyer or its authorized agents to discuss the affairs, finances and accounts of Seller with its chief operating officer and chief financial officer and to
discuss the affairs, finances and accounts of Seller with its independent certified public accountants. 

  
 43 

 j. Books. Seller shall keep or cause to be kept in reasonable detail books and records of
account of its assets and business and shall clearly reflect therein the transfer of Purchased Assets to Buyer. 
 k. Approvals.
Seller shall maintain all licenses, permits or other approvals necessary for Seller to conduct its business and to perform its obligations under the Program Agreements, and Seller shall conduct its business strictly in accordance with Requirements
of Law. 
 l. Material Change in Business. Seller shall not liquidate, wind up or dissolve itself (or suffer any liquidation, winding
up or dissolution) or sell all or substantially all of its assets or make any material change in the nature of its business as carried on at the Restatement Date. Seller shall not enter into any transaction of merger or consolidation or amalgamation
without giving Buyer notice of such transaction within two (2) Business Days of entering into such agreement. 
 m. Underwriting
Guidelines. Seller shall not amend or otherwise modify the Underwriting Guidelines in any material respect without ten (10) Business Days’ prior written notice to Buyer. Without limiting the foregoing, in the event that Seller makes
any amendment or modification to the Underwriting Guidelines, Seller shall promptly deliver to Buyer a complete copy of the amended or modified Underwriting Guidelines. Buyer reserves the right to accept or reject such amended or modified
Underwriting Guidelines and shall be under no obligation to purchase Mortgage Loans originated under the amended or modified Underwriting Guidelines. Buyer’s decision of whether to accept or reject the amended or modified Underwriting
Guidelines shall be communicated to Seller within five (5) Business Days of delivery of such amended or modified Underwriting Guidelines by Seller to Buyer; provided, that the failure to communicate such decision shall not be deemed an
approval by Buyer. 
 n. Distributions. If an Event of Default has occurred and is continuing or the payment of a distribution would
cause, or would be likely to cause, a violation of a Financial Covenant herein, Seller shall not pay any dividends with respect to any capital stock or other equity interests in such entity, whether now or hereafter outstanding, or make any other
distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of Seller. 
 o. Applicable
Law. Seller shall comply with the requirements of all Requirements of Law and orders of any Governmental Authority. 
 p.
Existence. Seller shall preserve and maintain its legal existence and all of its material rights, privileges, licenses and franchises. 

q. Chief Executive Office; Jurisdiction of Organization. Seller shall not (i) move its chief executive office from the address
referred to on the Addendum, (ii) change its jurisdiction of organization or (iii) cause or permit any change to be made in its name, organizational identification number, Governing Documents or structure, unless it shall have provided
Buyer thirty (30) days’ prior written notice of such change and Seller shall have first taken all action required by Buyer for the purpose of perfecting or protecting the lien and security interest of Buyer established hereunder. 

  
 44 

 r. Taxes. Seller shall timely file all tax returns that are required to be filed by it and
shall timely pay and discharge all taxes, assessments and governmental charges or levies imposed on it or on its income or profits or on any of its property prior to the date on which such taxes are due without penalties or interest, except for any
such tax, assessment, charge or levy the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained. 

s. Transactions with Affiliates. Seller will not enter into any transaction, including, without limitation, any purchase, sale, lease or
exchange of property or the rendering of any service, with any Affiliate, including any joint venture between the Seller and another party for the origination of Mortgage Loans if the Seller’s share of such joint venture does not exceed 50%,
unless such transaction is (a) otherwise permitted under the Program Agreements, (b) in the ordinary course of Seller’s business and (c) upon fair and reasonable terms no less favorable to Seller than it would obtain in a
comparable arm’s length transaction with a Person which is not an Affiliate, or make a payment that is not otherwise permitted by this Section 13(s) to any Affiliate. 

t. True and Correct Information. All material information, reports, exhibits, schedules, financial statements (including, without
limitation, any schedules) or certificates of Seller, any Affiliate or any of its officers furnished to Buyer hereunder and during Buyer’s diligence of Seller is and will be true and complete and do not omit to disclose any material facts
necessary to make the statements herein or therein, in light of the circumstances in which they are made, not misleading. All required financial statements, information and reports delivered by Seller to Buyer pursuant to this Agreement shall be
prepared in accordance with U.S. GAAP, or, if applicable, to SEC filings, the appropriate SEC accounting regulations. 
 u. Takeout
Investors, Takeout Broker Dealers and Agency Approvals; Servicing. Unless otherwise approved by Buyer in advance, Seller shall maintain its status with at least three (3) Buyer-approved Takeout Investors for each type of Mortgage Loan
listed on the Sublimit, Rate and Term Schedule of the Addendum, and, if applicable, Takeout Broker Dealers or its status with Fannie Mae as an approved lender and/or Freddie Mac as an approved seller/servicer, in all cases in good standing. Should
Seller, for any reason, cease to be in good standing with any of the foregoing, or, if in order to remain in good standing, should Seller be required by any Takeout Investor, Takeout Broker Dealer or Fannie Mae or Freddie Mac to provide any
notification to the relevant Takeout Investor, Takeout Broker Dealer, Fannie Mae or Freddie Mac or to the Department of Housing and Urban Development, FHA or VA, such Seller shall also notify Buyer immediately in writing of such notification.
Notwithstanding the preceding sentence, Seller shall take all necessary action to maintain all of their applicable Agency approvals at all times during the term of this Agreement and each outstanding Transaction. Seller has adequate financial
standing, servicing facilities, procedures and experienced personnel necessary for the sound servicing of mortgage loans of the same types as may from time to time constitute Purchased Mortgage Loans and in accordance with Accepted Servicing
Practices. 

  
 45 

 v. No Pledge. Seller shall not pledge, transfer or convey any security interest in the
Collection Account or the Seller’s Clearing Account to any Person without the express written consent of Buyer. 
 w. [Reserved.]

 x. [Reserved.] 
 y.
[Reserved.] 
 z. Seller’s Clearing Account and Reserve Account. The Seller’s Clearing Account Threshold and the
Reserve Account Threshold, if a Reserve Account is required per the terms of the Addendum, shall be maintained at all times. 
 aa.
[Reserved.] 
 bb. Documentation. Seller has performed the documentation procedures required by its operational guidelines with
respect to endorsements and assignments, including the recordation of assignments, or has verified that such documentation procedures have been performed by a prior holder of such Purchased Mortgage Loan. 

cc. Compliance. Seller has observed or performed and shall continue to observe and perform in all material respects all of its covenants
and other agreements, and Seller has satisfied every condition, contained in this Agreement and the other Program Agreements to be observed, performed and satisfied by it. 

dd. Regulatory Action. Seller is not currently under investigation and no investigation by any federal, state or local government agency
is threatened. Seller has not been the subject of any government investigation which has resulted in the voluntary or involuntary suspension of a license, a cease and desist order, or such other action as could adversely impact Seller’s
business. 
 ee. No Default. No Default or Event of Default has occurred or is continuing. 

ff. [Reserved.] 
 gg.
Hedging. An accurate and true summary of all outstanding Interest Rate Protection Agreements entered into or maintained by Seller during the most recent calendar month end shall be provided to Buyer each month (unless Buyer gives notice to
Seller that such summary is not required); and any documentation related to such Interest Rate Protection Agreements as required by the Manual and such other documents requested by Buyer shall be provided to Buyer. 

hh. Notification. Seller will notify Buyer (1) promptly of any repurchase requests or demands, indemnification requests it received
from its secondary market investors, including any Takeout Investors or any Governmental Authority or Agency, and (2) immediately of any suspension notices or termination notices it received from its secondary market investors, including any
Takeout Investors, Takeout Broker Dealers or any Governmental Authority or Agency. 

  
 46 

 ii. Mortgage Loan Schedule. Each Mortgage Loan Schedule is true and correct in all
respects; each of Custodian and Buyer must be provided with notice of any changes thereto. 
 jj. Processing Agent. If so required by
Buyer, Seller shall retain and use the services of Persons experienced in the processing of transactions in the secondary mortgage market to facilitate the Transactions contemplated hereunder. Each Processing Agent shall be acceptable to Buyer in
its discretion. 
 kk. Interim Funder. Seller shall ensure that Buyer will be named as the “interim funder” with MERS. 

ll. Additional Covenants and Conditions. Seller shall ensure compliance with the Additional Covenants and Conditions. 

mm. Partnership Change in Financial Relationship. If applicable, Seller shall promptly notify Buyer if either the General Partner or the
Seller obtain separate tax identification numbers and/or begin filing separate tax returns from the other. 
 nn. Financial Covenants.
Seller shall comply with all the Financial Covenants. 
 oo. Key Personnel. There shall be no material change in the Key
Personnel of Seller unless Buyer receives adequate assurances from Seller within five (5) Business Days of such material change that such Key Personnel position will be filled or covered to the reasonable satisfaction of Buyer and in a
timeframe to the reasonable satisfaction of Buyer, and Seller shall so fill or cover the position in such manner and timeframe. 
 14.
Events of Default 
 Each of the following shall constitute an “Event of Default” hereunder: 

a. Payment Failure. Failure of any Seller to (i) make any payment of Price Differential or Repurchase Price or any other sum which
has become due, on a Repurchase Date or otherwise, whether by acceleration or otherwise, under the terms of this Agreement, any other warehouse and security agreement or any other document evidencing or securing Indebtedness of Seller to Buyer or to
any Affiliate of Buyer, or (ii) cure any Margin Deficit when due pursuant to Section 6 hereof. 
 b. Cross Default.
(i) Seller or any of Seller’s Affiliates shall be in default under (A) any Indebtedness of any Seller or of such Affiliate which default (1) involves the failure to pay a matured obligation, or (2) permits the acceleration
of the maturity of obligations by any other party to or beneficiary with respect to such Indebtedness, or (B) any other contract to which any Seller or such Affiliate is a party which default (1) involves the failure to pay a matured
obligation, or (2) permits the acceleration of the maturity of obligations by any other party to or beneficiary of such contract; provided, that it shall not be an Event of Default under this subsection (B) if such disputed
amount or obligation is less than the Cross Default Threshold. 

  
 47 

 
(ii) A breach by any Guarantor of the terms of its Guaranty or its related addendum, including but not limited to, a guarantor event of default or term of similar import or a breach of a
financial covenant or the failure to timely provide any financial or other reporting. 
 c. Assignment. Assignment or attempted
assignment by any Seller of this Agreement or any rights hereunder without first obtaining the specific written consent of Buyer, or the granting by any Seller of any security interest, lien or other encumbrances on any Purchased Assets to any
person other than Buyer. 
 d. Insolvency. An Act of Insolvency shall have occurred with respect to any Seller or any Affiliate, or,
if applicable, the Manager, the General Partner or Limited Partner. 
 e. Material Adverse Effect. Any Material Adverse Effect as
determined by Buyer in its sole good faith discretion, or any other condition shall exist which, in Buyer’s sole good faith discretion, constitutes a material impairment of any Seller’s ability to perform its obligations under this
Agreement or any other Program Agreement or would be likely to cause a Material Adverse Effect. 
 f. Breach of Representation, Covenant
or Obligation. 
 (1) A breach by Seller of any of the representations, warranties, covenants or obligations set forth in
Sections 12(a)(1), 12(a)(3), 12(a)(6), 12(a)(10), 12(a)(12), 12(a)(13), 12(a)(15), 12(a)(17), 12(a)(19), 12(a)(24), 13(g), 13(h), 13(l), 13(n),
13(o), 13(r), 13(s), 13(v), 13(z), 13(ee), 13(ll), 13(nn) or 13(oo) of this Agreement. 

(2) A breach by any Seller of any other representation, warranty, covenant or any other obligation set forth in this
Agreement (and not otherwise specified in Sections 14(f)(1) or 14(f)(3)) or any other failure to perform under this Agreement, if such breach is not cured within five (5) Business Days (other than a breach of the representations
and warranties set forth in Schedule 1, which shall be considered solely for the purpose of determining the Market Value, the existence of a Margin Deficit, the obligation to repurchase such Mortgage Loan and the right of Buyer to sell such
Mortgage Loan as set forth in Section 6(e) hereof, unless (1) such party shall have made any such representations and warranties with knowledge that they were materially false or misleading at the time made, or (2) any such
representations and warranties have been determined by Buyer in its discretion to be materially false or misleading on a regular basis, then such breach shall constitute an Event of Default for purposes of this Section 14(f)(2)), unless
(i) such party shall have made any such representations and warranties with knowledge that they were materially false or misleading at the time made, (ii) any such representations and warranties have been determined by Buyer in its
discretion to be materially false or misleading on a regular basis, or (iii) Buyer, in its discretion, determines that such breach of a material representation, warranty or covenant materially and adversely affects (A) the condition
(financial or otherwise) of such party, its Subsidiaries or Affiliates, or (B) Buyer’s determination to enter into this Agreement or Transactions with such party, then such breach shall constitute an immediate Event of Default and Seller
shall have no cure right hereunder. 

  
 48 

 (3) A breach by any Seller of any of the representations, warranties, covenants
or obligations set forth in Sections 12(a)(9), 13(k), 13(q), 13(u), 13(cc), 13(jj) or 13(kk) of this Agreement if such breach is not cured within thirty (30) days. 

g. ERISA. (i) Seller or any ERISA Affiliate shall engage in a non-exempt prohibited transaction within the meaning of
Section 406 of ERISA or Section 4975 of the Code involving any Plan or (ii) one or more ERISA Events shall occur or reasonably could be expected to occur; and, in the case of clauses (i) and (ii), such condition or
event, together with all other conditions or events, if any, is reasonably expected to result in a Material Adverse Effect. 
 h. Change
in Control. The occurrence of a Change in Control or any individuals determined to be critical executives of Seller, or, if applicable, the Manager, the General Partner or Limited Partner, in the sole discretion of the Buyer cease to be the
employees of the Seller, the Manager, the General Partner or the Limited Partner, as applicable. 
 i. Failure to Transfer. Any Seller
fails to transfer the Purchased Assets to Buyer on the applicable Purchase Date (provided Buyer has tendered the related Purchase Price). 

j. Judgment. A judgment or judgments for the payment of money in excess of the Judgment Threshold shall be rendered against any Seller
or any of its Affiliates by one or more courts, administrative tribunals or other bodies having jurisdiction and the same shall not be satisfied, discharged (or provision shall not be made for such discharge) or bonded, or a stay of execution
thereof shall not be procured, within thirty (30) days from the date of entry thereof. 
 k. Government Action. Any Governmental
Authority or any person, agency or entity acting or purporting to act under governmental authority shall have taken any action to condemn, seize or appropriate, or to assume custody or control of, all or any substantial part of the Property of any
Seller, Guarantor or Affiliate thereof, or shall have taken any action to displace the management of any Seller, Guarantor or Affiliate thereof or to curtail its authority in the conduct of the business of any Seller, Guarantor or Affiliate thereof,
or takes any action in the nature of enforcement to remove, limit or restrict the approval of any Seller, Guarantor or Affiliate thereof as an issuer, buyer or a seller/servicer of Mortgage Loans or Agency Securities, and such action provided for in
this subparagraph (l) shall not have been discontinued or stayed within thirty (30) days. 
 l. Inability to Perform.
An officer of any Seller or Guarantor shall admit its inability to, or its intention not to, perform any of any Seller’s Obligations or Guarantor’s obligations hereunder or the Guaranty. 

m. Security Interest. In the event that this Agreement is recharacterized by a court of competent jurisdiction as a secured loan or
similar financing, the Agreement shall for any reason cease to create a valid, first priority security interest in any material portion of the Purchased Mortgage Loans or other Purchased Assets purported to be covered hereby. 

n. Financial Statements. Any Seller’s or Guarantor’s audited annual financial statements or the notes thereto or other
opinions or conclusions stated therein shall be qualified or limited by reference to the status of Seller or Guarantor as a “going concern” or a reference of similar import. 

  
 49 

 o. Violation of Manual. Failure by any Seller to comply with the Manual pursuant to
Section 17 after written notice by Buyer; provided, however, that any change to the Manual shall only apply to Transactions occurring on and after the date Seller receives written notice of such change to the Manual and no
such change shall apply to or otherwise affect previously consummated Transactions. 
 p. Material Adverse Effect Upon the Servicer. A
material adverse change in, or a material adverse effect upon, the operations, business, properties, condition (financial or otherwise) or prospects of the Servicer. 

An Event of Default shall be deemed to be continuing unless Buyer expressly waives such Event of Default or acknowledges that such Event of
Default has been subsequently cured by Seller, in each case, in writing. 
 15. Remedies Upon Default 

In the event that an Event of Default shall have occurred: 

a. Buyer may, at its option, declare an Event of Default to have occurred hereunder (which option shall be deemed to have been exercised
immediately and without any notice upon the occurrence of an Event of Default pursuant to Section 14(d)) and, upon the exercise or deemed exercise of such option, the Repurchase Date for each Transaction hereunder shall, if it has not
already occurred, be deemed immediately to occur (except that, in the event that the Purchase Date for any Transaction has not yet occurred as of the date of such exercise or deemed exercise, such Transaction shall be deemed immediately canceled).
Buyer shall give written notice to each Seller and Guarantor of the exercise of such option as promptly as practicable; provided, however, that Buyer shall not provide written notice upon the occurrence of an Event of Default pursuant
to Section 14(d), which shall constitute an immediate Event of Default without any further action or notice by Buyer. (For purposes of this provision, notice provided by electronic mail shall constitute written notice.) 

b. If Buyer exercises or is deemed to have exercised the option referred to in paragraph (a) of this Section 15,
(i) Seller’s obligations in such Transactions to repurchase all Purchased Assets, at the Repurchase Price therefor on the Repurchase Date determined in accordance with paragraph (a) of this Section 15, shall
thereupon become immediately due and payable, (ii) all Income paid after such exercise or deemed exercise shall be retained by Buyer, or, to the extent not yet transferred to the Collection Account, the Seller’s Clearing Account or the
Reserve Account, remitted to Buyer, and in any case applied, in Buyer’s discretion, to the aggregate unpaid Repurchase Prices for all outstanding Transactions and any other amounts owing by any Seller hereunder, (iii) Seller shall
immediately comply with the further instructions of Buyer with respect to holding or delivering any of the Mortgage Files relating to any Purchased Assets subject to such Transactions then in Seller’s possession or control; and (iv) the
Agency Security Margin and the Loan Margin shall automatically be increased by the Post Default Rate Margin. In addition, Buyer shall have the right to satisfy any Obligations with funds remaining in the Seller’s Clearing Account or the Reserve
Account. 

  
 50 

 c. Buyer shall have the right to direct all Servicers then servicing any Purchased Mortgage Loans
to remit all collections thereon to Buyer to the extent that any such Servicer is not currently remitting to the Buyer, and if any such payments are received by Seller, Seller shall not commingle the amounts received with other funds of Seller and
shall promptly pay them over to Buyer. Buyer shall also have the right to terminate any one or all of the Servicers then servicing any Purchased Mortgage Loans with or without cause. 

d. If Buyer exercises or is deemed to have exercised the option referred to in paragraph (a) of this Section 15, Buyer
shall have the right to immediately sell and liquidate the Purchased Mortgage Loans (including, without limitation, the Servicing Rights), Purchased Agency Securities and all other Purchased Assets. Such disposition of Purchased Mortgage Loans may
be, at Buyer’s option, on either a servicing-released or a servicing-retained basis. Buyer shall not be required to give any warranties as to the Purchased Mortgage Loans or Purchased Agency Securities with respect to any such disposition
thereof. Buyer may specifically disclaim or modify any warranties of title or the like relating to the Purchased Assets. The foregoing procedure for disposition and liquidation of the Purchased Assets shall not be considered to adversely affect the
commercial reasonableness of any sale thereof. Seller agrees that it would not be commercially unreasonable for Buyer to dispose of the Purchased Assets or any portion thereof by using Internet sites that provide for the auction of assets similar to
such Purchased Assets, or that have the reasonable capability of doing so, or that match buyers and sellers of assets. Buyer shall be entitled to place the Purchased Mortgage Loans in a pool for issuance of mortgage-backed securities at the
then-prevailing price for such securities and to sell such securities for such prevailing price in the open market. Buyer shall also be entitled to sell any or all of such Purchased Mortgage Loans individually for the prevailing price. Buyer shall
also be entitled, in its discretion to elect, in lieu of selling all or a portion of such Purchased Assets, to give the Seller credit for such Purchased Assets in an amount equal to the current market value of such Purchased Assets (as determined by
Buyer (or an Affiliate thereof) in its discretion using methodology consistent with Buyer’s determination with respect to similar portfolios) against the aggregate unpaid Repurchase Price and any other amounts owing by the Seller hereunder.

 e. Upon the happening of one or more Events of Default, Buyer may apply any proceeds from the liquidation of the Purchased Assets to the
Repurchase Price hereunder and all other Obligations in the manner Buyer deems appropriate in its sole discretion. 
 f. Seller shall be
liable to Buyer for (i) the amount of all reasonable legal or other expenses (including, without limitation, all costs and expenses of Buyer in connection with the enforcement of this Agreement or any other agreement evidencing a Transaction,
whether in action, suit or litigation or bankruptcy, insolvency or other similar proceeding affecting creditors’ rights generally, further including, without limitation, the reasonable fees and expenses of counsel (including the costs of
internal and external counsel of Buyer) incurred in connection with or as a result of an Event of Default, (ii) damages in an amount equal to the cost (including all fees, expenses and commissions) of entering into replacement transactions and
entering into or terminating hedge transactions in connection with or as a result of an Event of Default, and (iii) any other loss, damage, cost or expense directly arising or resulting from the occurrence of an Event of Default in respect of a
Transaction. 

  
 51 

 g. Seller shall be liable to Buyer for the Repurchase Price related to a Transaction, and, to the
extent permitted by applicable law, Seller shall be liable to Buyer for interest on any other amounts owing by Seller hereunder, from the date Seller becomes liable for such amounts hereunder until such amounts are (i) paid in full by Seller or
(ii) satisfied in full by the exercise of Buyer’s rights hereunder. Interest on any sum payable by Seller under this paragraph (g) shall be at a rate equal to the Post Default Rate Margin or the Accounts Receivable Rate, as
applicable. 
 h. Buyer shall have, in addition to its rights hereunder, any rights otherwise available to it under any other agreement or
applicable law, including, without limitation, any equitable remedies. 
 i. Buyer may exercise one or more of the remedies available to
Buyer immediately upon the occurrence of an Event of Default and, except to the extent provided in paragraph (a) of this Section 15, at any time thereafter without notice to Seller. All rights and remedies arising under this
Agreement amended from time to time hereunder are cumulative and not exclusive of any other rights or remedies which Buyer may have. 
 j.
Buyer may enforce its rights and remedies hereunder without prior judicial process or hearing, and as permitted by law Seller hereby expressly waives any defenses Seller might otherwise have to require Buyer to enforce its rights by judicial
process. Seller also waives any defense (other than a defense of payment or performance) Seller might otherwise have arising from the use of nonjudicial process, enforcement and sale of all or any portion of the Purchased Assets, or from any other
election of remedies. Seller recognizes that nonjudicial remedies are consistent with the usages of the trade, are responsive to commercial necessity and are the result of a bargain at arm’s length. 

k. If Buyer exercises or is deemed to have exercised the option referred to in paragraph (a) of this Section 15, Buyer
shall have the right to terminate this Agreement; provided, however, that no such termination shall affect Seller’s outstanding obligations to Buyer at the time of such termination, nor shall it affect the survivability of any
provisions in this Agreement that, by their express terms, are intended to survive the termination of this Agreement or any of the other Program Agreements and the repayment in full of all outstanding Obligations 

16. Reports 
 a.
Notices. Each Seller and Guarantor shall furnish to Buyer (w) promptly, copies of any material and adverse notices (including, without limitation, notices of defaults, breaches, potential defaults or potential breaches),
(x) immediately, notice of the occurrence of any Event of Default hereunder or default or breach by any Seller, Servicer or Guarantor of any obligation under any Program Agreement or any material contract or agreement of any Seller, Servicer or
Guarantor or the occurrence of any event or circumstance that such party reasonably expects has resulted in, or will, with the passage of time, result in, a Material Adverse Effect or an Event of Default, (y) immediately, notice of a Takeout
Investor’s cancellation of a Takeout Commitment or notice of a Takeout Broker Dealer’s cancellation of Agency Security Purchase Commitment and (z) the following: 

  
 52 

 (1) as soon as available and in any event within the Reporting Period, the
unaudited balance sheets of Seller and Guarantor (if elected in the Guaranty Addendum with respect to the Guarantor) as at the end of such period, the unaudited balance sheets, related unaudited consolidated statements of income and retained
earnings and of cash flows for the Seller and Guarantor, if applicable, for such period and the portion of the fiscal year through the end of such period, accompanied by the Officer’s Compliance Certificate, executed by a Responsible Officer of
Seller and Guarantor, if applicable, which certificate shall state that said financial statements and schedules fairly present in all material respects the financial condition and results of operations of Seller and Guarantor, if applicable, in
accordance with GAAP, consistently applied, as at the end of, and for, such period (subject to normal year-end adjustments); 

(2) as soon as available and in any event within one hundred twenty (120) days after the end of the Seller’s
fiscal year, the audited balance sheets and the related statements of income for the Seller and Guarantor (if elected in the Guaranty Addendum with respect to the Guarantor) as at the end of such fiscal year, with such balance sheets and statements
of income being audited if required by Buyer but in any event prepared by a certified public accountant in accordance with GAAP, setting forth in each case in comparative form the figures for the previous year, accompanied by an opinion thereon of
independent certified public accountants of recognized national standing, which opinion shall have no “going concern” qualification and shall state that said financial statements fairly present the financial condition and results of
operations of Seller and Guarantor, if applicable, as at the end of, and for, such fiscal year in accordance with GAAP; 

(3) to the extent permitted by Governmental Authority and as soon as available, or otherwise stipulated in this Agreement,
copies of relevant portions of all final written Fannie Mae, Freddie Mac, FHA, VA, Governmental Authority and investor audits, examinations, evaluations, monitoring reviews and reports of its operations (including those prepared on a contract basis)
which provide for or relate to (i) material corrective action required, (ii) material sanctions proposed, imposed or required, including, without limitation, notices of defaults, notices of termination of approved status, notices of
imposition of supervisory agreements or interim servicing agreements, and notices of probation, suspension, or non-renewal, or (iii) “report cards,” “grades” or other classifications of the quality of Seller’s
operations, as requested by Buyer; 
 (4) from time to time such other information regarding the financial condition,
operations, or business of the Seller or the Guarantor as Buyer may reasonably request; 
 (5) as soon as reasonably
possible or as otherwise set forth in this Agreement, notice of any of the following events: 

  
 53 

 (a) change in the insurance coverage required of Seller, Servicer or any other
Person pursuant to any Program Agreement, with a copy of evidence of same attached; 
 (b) any material claim, dispute,
litigation, investigation, proceeding or suspension between Seller, Guarantor or Servicer, on the one hand, and any Governmental Authority, Takeout Investor, third party loan purchaser or any other Person on the other; 

(c) any material change in accounting policies or financial reporting practices of Seller, Guarantor or Servicer; 

(d) with respect to any Purchased Mortgage Loan, immediately upon receipt of notice or knowledge thereof, that the value
of the underlying Mortgaged Property or such Mortgage Loan has been materially adversely affected for any reason, including, without limitation, damage by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty; 

(e) any material issues raised upon examination of Seller, Guarantor or Seller’s facilities by any Governmental
Authority; 
 (f) any material change in the Indebtedness of the Seller or Guarantor, including, without limitation, any
default, renewal, non-renewal, termination, increase in available amount or decrease in available amount related thereto; 

(g) any breach of a representation or warranty set forth in Schedule 1 hereto; 

(h) any other event, circumstance or condition that has resulted, or has a possibility of resulting, in a Material Adverse
Effect with respect to Seller or Servicer, including, without limitation, any claims of predatory lending or any early payment default, buy-back, repurchase or similar requests, notices or claims by third party purchasers that would likely or
actually require the Seller to repurchase mortgage loans or pay any amounts to such third party purchaser with respect to any sold mortgage loan; and 

(i) Any repurchase requests or demands, indemnification requests, suspension notices or termination notices Seller
received, or is reasonably likely to receive, from its secondary market investors, including any Takeout Investors. 
 b. Officer’s
Compliance Certificate. Seller will furnish to Buyer, at the time the Seller furnishes each set of financial statements pursuant to Sections 16(a)(1) or (2) above, a certificate of a Responsible Officer of Seller in the form
of Exhibit A hereto, along with all schedules required by Buyer. If elected in the Guaranty Addendum with respect to the Guarantor, Guarantor will furnish to Buyer, at the time the Guarantor furnishes each set of financial statements pursuant
to Sections 16(a)(1) or (2) above, a certificate of a Responsible Officer of Guarantor in the form attached to the Guaranty. 

  
 54 

 c. Mortgage Loan Reports. At the request of Buyer, Seller will furnish to Buyer monthly
electronic Mortgage Loan performance data, including, without limitation, delinquency reports (i.e., delinquency, foreclosure and net charge-off reports). 

d. Asset Tape. On a monthly basis or within two (2) Business Days following a request from Buyer, Seller shall provide to Buyer or
Custodian, electronically, in a format mutually acceptable to Buyer and Seller, an Asset Tape. 
 e. Other. Sellers and Guarantor
shall deliver to Buyer any other reports or information reasonably requested by Buyer or as otherwise required pursuant to this Agreement. 

17. Buyer’s Policies and Procedures Manual 

Seller shall comply with Buyer’s manual of procedures and policies, including, without limitation, any Mortgage Banker Finance Group
guidelines (and any updates related thereto) (collectively, the “Manual”), as such Manual may be updated from time to time by Buyer in its sole discretion. 

18. Repurchase Transactions 

Buyer may, in its sole election, engage in repurchase transactions with the Purchased Assets or otherwise pledge, hypothecate, assign, transfer
or otherwise convey the Purchased Assets with a counterparty of Buyer’s choice. Upon receipt of the Repurchase Price and all fees and expenses related to any Purchased Asset, Buyer is obliged to transfer Purchased Assets to Seller pursuant to
Section 4 hereof and credit or pay Income to, or apply Income to the obligations of, Seller pursuant to Section 7 hereof; provided, that in each instance an Event of Default shall not have occurred. In the event Buyer
engages in a repurchase transaction with any of the Purchased Assets or otherwise pledges or hypothecates any of the Purchased Assets, Buyer shall have the right to assign to Buyer’s counterparty any of the applicable representations or
warranties herein and the remedies for breach thereof, as they relate to the Purchased Assets that are subject to such repurchase transaction. 

19. Custodial Responsibilities 

a. On the Purchase Date, or Delivery Date if different from the Purchase Date, the Seller shall deliver to the Custodian the Mortgage File,
together with a Transmittal Letter upon which the Custodian shall be entitled to rely conclusively until expressly notified to the contrary in writing by the Buyer. The Mortgage Loan Schedule, relating to all of the Purchased Mortgage Loans
delivered to the Custodian on the related Purchase Date (or the related Delivery Date), shall be delivered electronically to the Custodian by Buyer on such Purchase Date or Delivery Date, as applicable, in accordance with the terms of the Manual.

 b. From time to time Seller may request Shipment Orders from the Buyer. Once Buyer has indicated that the Custodian has received all the
Mortgage Loan Documents from the Seller, Buyer shall electronically transmit any Shipment Orders to the Custodian and the Custodian shall deliver the specified Collateral Documents or reports in its possession to the Takeout Investor (or its
custodian) in the manner directed in the Custodial Agreement and such Shipment Order. The Seller is responsible for determining whether all Mortgage Loan 

  
 55 

 
Documents are on the current forms required by the Takeout Investor, in compliance with any related Takeout Commitment, or otherwise sufficient for the Takeout Investor. Neither the Buyer nor the
Custodian shall have any obligation to prepare, assemble, correct or sign any documents included in the Shipment Order. 
 c. In the event
that the Custodian delivers any Collateral Documents to the Seller upon the written authorization of the Buyer and pursuant to the Seller’s delivery to the Custodian of an executed request for the release of such Collateral Documents pursuant
to the terms of the Custodial Agreement, the Seller shall be solely responsible for the safe, prompt return of such Collateral Documents in the timeframe specified in the release request (or other similar document) upon making any correction deemed
necessary by Buyer or the Seller. 
 d. In the event that the Custodian pays for the shipment of the package of Collateral Documents, Seller
will reimburse Custodian for all actual shipment costs related to such Seller upon receipt of an invoice; provided, that in any event Buyer shall not be held responsible or liable for recovery of shipment costs incurred pursuant to this
Section 19. 
 20. Single Agreement 

Buyer and Seller acknowledge that, and have entered hereunto, and will enter into each Transaction hereunder, in consideration of and in
reliance upon the fact that, all Transactions hereunder constitute a single business and contractual relationship and have been made in consideration of each other. Accordingly, each of Buyer and Seller agrees (i) to perform all of its
obligations in respect of each Transaction hereunder, and that a default in the performance of any such obligations shall constitute a default by it in respect of all Transactions hereunder, (ii) that each of them shall be entitled to set-off
claims and apply property held by them in respect of any Transaction against obligations owing to them in respect of any other Transactions hereunder and (iii) that payments, deliveries and other transfers made by either of them in respect of
any Transaction shall be deemed to have been made in consideration of payments, deliveries and other transfers in respect of any other Transactions hereunder, and the obligations to make any such payments, deliveries and other transfers may be
applied against each other and netted. 
 21. Notices and Other Communications 

Any notices (with the exception of Transaction Requests or Purchase Confirmations, which shall be delivered in the manner set forth in the
Manual), statements, demands or other communications hereunder may be given by a party to the other by electronic mail, facsimile, messenger or otherwise to the Seller and Buyer’s addresses specified on the Addendum, or so sent to such party at
any other place specified in a notice of change of address hereafter received by the other. Notice provided by electronic mail or facsimile shall be deemed to be given upon transmission provided that an electronic notice of non-transmission is not
received. All notices, demands and requests hereunder may be made orally, to be confirmed promptly in writing, or by other communication as specified in the preceding sentence. 

  
 56 

 22. Entire Agreement; Severability 

This Agreement shall supersede any existing agreements between the parties containing general terms and conditions for repurchase transactions.
Each provision and agreement herein shall be treated as separate and independent from any other provision or agreement herein and shall be enforceable notwithstanding the unenforceability of any such other provision or agreement. 

23. Non-assignability 

Without the prior written consent of Buyer, the Program Agreements are not assignable by any Seller or Guarantor, as applicable. Buyer may from
time to time assign all or a portion of its rights and obligations under this Agreement and the Program Agreements; provided, however, that Buyer shall maintain as agent of Seller, for review by Seller upon written request, a register
of assignees and a copy of an executed assignment and acceptance by Buyer and assignee (“Assignment and Acceptance”), specifying the percentage or portion of such rights and obligations assigned. Upon such assignment, (a) such
assignee shall be a party hereto and to each Program Agreement to the extent of the percentage or portion set forth in the Assignment and Acceptance, and shall succeed to the applicable rights and obligations of Buyer hereunder, and (b) Buyer
shall be released from its obligations hereunder and under the Program Agreements to the extent of the percentage or portion set forth in the Assignment and Acceptance. Unless otherwise stated in the Assignment and Acceptance, Seller shall continue
to take directions solely from Buyer unless otherwise notified by Buyer in writing. Buyer may distribute to any prospective assignee any document or other information delivered to Buyer by Seller. 

24. Set-off 
 In addition
to any rights and remedies of Buyer provided by law, Buyer shall have the right, without prior notice to Seller or Guarantor, any such notice being expressly waived by Seller or Guarantor to the extent permitted by applicable law, upon any amount
becoming due and payable by any Seller or Guarantor hereunder (whether at the stated maturity, by acceleration or otherwise) to set-off and appropriate and apply against such amount any deposits (general or special, time or demand, provisional or
final), in any currency, and any other credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by Buyer, Buyer’s Affiliates (including,
without limitation Wells Fargo & Company and its Affiliates) or any branch or agency thereof to or for the credit or the account of Seller or Guarantor under any other agreement. Buyer agrees promptly to notify each Seller and Guarantor
after any such set-off and application made by Buyer; provided, that the failure to give such notice shall not affect the validity of such set-off and application. For avoidance of doubt and not as a limitation, Buyer may set-off any amounts
in the Seller’s Clearing Account and the Reserve Account. 
 Buyer shall at any time, unless and until all Obligations under this
Agreement have been paid in full, have the right to retain, to suspend payment or performance of, or to decline to remit, any amount or property that Buyer would otherwise be obligated to pay, remit or deliver to Seller or Guarantor hereunder if an
Event of Default or Default has occurred. 

  
 57 

 25. Binding Effect; Governing Law; Jurisdiction 

a. This Agreement shall be binding and inure to the benefit of the parties hereto and their respective successors and permitted assigns. Seller
acknowledges that the obligations of Buyer hereunder or otherwise are not the subject of any guaranty by, or recourse to, any direct or indirect parent or other Affiliate of Buyer. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER
OR RELATED TO OR IN CONNECTION WITH THIS AGREEMENT, THE RELATIONSHIP OF THE PARTIES, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES WILL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY
CONFLICTS OF LAW PRINCIPLES OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 
 b. EACH SELLER AND GUARANTOR HEREBY WAIVE
TRIAL BY JURY. SELLER AND GUARANTOR HEREBY IRREVOCABLY CONSENT TO THE EXCLUSIVE JURISDICTION OF ANY COURT OF THE STATE OF NEW YORK, OR IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, ARISING OUT OF OR RELATING TO THE
PROGRAM AGREEMENTS IN ANY ACTION OR PROCEEDING. EACH SELLER AND GUARANTOR HEREBY SUBMITS TO, AND WAIVES ANY OBJECTION THEY MAY HAVE TO, EXCLUSIVE PERSONAL JURISDICTION AND VENUE IN THE COURTS OF THE STATE OF NEW YORK AND THE UNITED STATES DISTRICT
COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, WITH RESPECT TO ANY DISPUTES ARISING OUT OF OR RELATING TO THE PROGRAM AGREEMENTS. 
 c. TO THE
EXTENT PERMITTED BY REQUIREMENTS OF LAW, SELLER HEREBY WAIVES ANY RIGHT TO CLAIM OR RECOVER IN ANY LITIGATION WHATSOEVER INVOLVING ANY INDEMNIFIED PARTY, ANY SPECIAL, EXEMPLARY, PUNITIVE, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ANY KIND OR
NATURE WHATSOEVER OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES, WHETHER SUCH WAIVED DAMAGES ARE BASED ON STATUTE, CONTRACT, TORT, COMMON LAW OR ANY OTHER LEGAL THEORY, WHETHER THE LIKELIHOOD OF SUCH DAMAGES WAS KNOWN AND REGARDLESS
OF THE FORM OF THE CLAIM OF ACTION. NO INDEMNIFIED PARTY SHALL BE LIABLE FOR ANY DAMAGES ARISING FROM THE USE BY UNINTENDED RECIPIENTS OF ANY INFORMATION OR OTHER MATERIALS DISTRIBUTED BY IT THROUGH TELECOMMUNICATIONS. 

d. SELLER ACKNOWLEDGES THAT THE WAIVERS IN THIS SECTION 25 ARE A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT SUCH
PARTY HAS ALREADY RELIED ON SUCH WAIVERS IN ENTERING INTO THE PROGRAM AGREEMENTS, AND THAT SUCH PARTY WILL CONTINUE TO RELY ON SUCH WAIVERS IN THEIR RELATED FUTURE DEALINGS UNDER THE PROGRAM AGREEMENTS. 

  
 58 

 e. THE PROVISIONS OF THIS SECTION 25 SHALL SURVIVE TERMINATION OF THE PROGRAM AGREEMENTS
AND THE PAYMENT IN FULL OF THE OBLIGATIONS. 
 26. No Waivers, Etc. 

No express or implied waiver of any Event of Default by Buyer shall constitute a waiver of any other Event of Default and no exercise of any
remedy hereunder by any party shall constitute a waiver of its right to exercise any other remedy hereunder. No modification or waiver of any provision of this Agreement and no consent by any party to a departure herefrom shall be effective unless
and until such shall be in writing and duly executed by both of the parties hereto. Without limitation on any of the foregoing, the failure to give a notice pursuant to Section 6(a), Section 15(a) or otherwise, will not
constitute a waiver of any right to do so at a later date. 
 27. Intent 

a. THE PARTIES RECOGNIZE THAT EACH TRANSACTION IS A “REPURCHASE AGREEMENT” AS THAT TERM IS DEFINED IN SECTION 101 OF TITLE 11
OF THE UNITED STATES CODE, AS AMENDED, AND A “SECURITIES CONTRACT” AS THAT TERM IS DEFINED IN SECTION 741 OF TITLE 11 OF THE UNITED STATES CODE, AS AMENDED, AND A “MASTER NETTING AGREEMENT” AS THAT TERM IS DEFINED
IN SECTION 101 OF TITLE 11 OF THE UNITED STATES CODE, AS AMENDED. 
 b. IT IS UNDERSTOOD THAT ANY PARTY’S RIGHT TO LIQUIDATE PURCHASED
ASSETS DELIVERED TO IT IN CONNECTION WITH TRANSACTIONS HEREUNDER OR TO EXERCISE ANY OTHER REMEDIES PURSUANT TO SECTION 15 HEREOF IS A CONTRACTUAL RIGHT TO LIQUIDATE SUCH TRANSACTION AS DESCRIBED IN SECTIONS 555, 559 AND 561 OF TITLE 11 OF THE
UNITED STATES CODE. 
 28. Power of Attorney 

Seller hereby authorizes Buyer to file such financing statement or statements relating to the Purchased Assets without Seller’s signature
thereon as Buyer, at its option, may deem appropriate. Seller hereby appoints Buyer as Seller’s attorney-in-fact to execute any such financing statement or statements in Seller’s name and to perform all other acts which Buyer deems
appropriate to perfect and continue its ownership interest in and/or the security interest granted hereby, if applicable, and to protect, preserve and realize upon the Purchased Assets, including, but not limited to, the right to endorse notes,
complete blanks in documents, transfer servicing, providing “good-bye” letters to the Mortgagor in the form set forth in the Manual, sign assignments on behalf of Seller as its attorney-in-fact, and sell a Purchased Asset “as is where
is” in the name and on behalf of Seller. This power of attorney is coupled with an interest and given as security and is irrevocable without Buyer’s consent. At Buyer’s request, Seller shall immediately execute all powers of attorney
in favor of Buyer in the form attached hereto as Exhibit C. In addition, Seller shall direct by board resolution attached as part of Exhibit B hereto 

  
 59 

 
that, pursuant to its execution and delivery of such a power of attorney, certain personnel of Buyer may take certain actions on behalf of Seller as its attorney-in-fact, with such resolution to
survive until all obligations of Seller hereunder are satisfied. Seller shall pay the filing costs for any financing statement or statements prepared pursuant to this Section 28. 

29. Buyer May Act Through Affiliates 

Buyer may, from time to time, designate one or more Affiliates for the purpose of performing any action hereunder. 

30. Indemnification; Obligations 

a. Each Seller agrees to hold Buyer and each of its respective Affiliates and their officers, directors, employees, agents and advisors (each,
an “Indemnified Party”) harmless from and indemnify each Indemnified Party (and will reimburse each Indemnified Party as the same is incurred) against all liabilities, losses, damages, judgments, costs and expenses (including,
without limitation, reasonable fees and expenses of counsel) of any kind which may be imposed on, incurred by, or asserted against any Indemnified Party relating to or arising out of this Agreement, any Transaction Request, Interest Rate Protection
Agreement, any Program Agreement or any transaction contemplated hereby or thereby resulting from anything other than the Indemnified Party’s gross negligence or willful misconduct. Seller also agrees to reimburse each Indemnified Party for all
reasonable expenses in connection with the enforcement of this Agreement and the exercise of any right or remedy provided for herein, any Transaction Request, Purchase Confirmation and any Program Agreement, including, without limitation, the
reasonable fees and disbursements of counsel. Seller’s agreements in this Section 30 shall survive the payment in full of the Repurchase Price and the expiration or termination of this Agreement. Each Seller hereby acknowledges that
its obligations hereunder are recourse obligations of Seller and are not limited to recoveries each Indemnified Party may have with respect to the Purchased Mortgage Loans. Each Seller also agrees not to assert any claim against Buyer or any of its
Affiliates, or any of their respective officers, directors, employees, attorneys and agents, on any theory of liability, for special, indirect, consequential or punitive damages arising out of or otherwise relating to the facility established
hereunder, the actual or proposed use of the proceeds of the Transactions, this Agreement or any of the transactions contemplated thereby. THE INDEMNITY IN THE IMMEDIATELY PRECEDING SENTENCE EXPRESSLY APPLIES, WITHOUT LIMITATION, TO THE NEGLIGENCE
(BUT NOT GROSS NEGLIGENCE OR WILLFUL MISCONDUCT) OF THE INDEMNIFIED PARTIES. 
 b. Without limiting the provisions of paragraph
(a) of this Section 30, if any Seller fails to pay when due any costs, expenses or other amounts payable by it under this Agreement, including, without limitation, fees and expenses of counsel and indemnities, such amount may be
paid on behalf of Seller by Buyer, in its discretion. Seller shall reimburse Buyer for any such costs, including, without limitation, per diem interest at the Post Default Rate Margin. 

31. Counterparts 
 This
Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, and all such counterparts shall together constitute one and the same instrument. Each counterpart delivered by email or facsimile transmission
shall be effective as an original. 

  
 60 

 32. Confidentiality 

This Agreement and its terms, provisions, supplements and amendments, and notices hereunder, are proprietary to Buyer and its Affiliates and
shall be held by each Seller and Guarantor in strict confidence and shall not be disclosed to any third party without the written consent of Buyer except for (i) disclosure to Seller’s or Guarantor’s direct and indirect Affiliates and
Subsidiaries, attorneys or accountants, but only to the extent such disclosure is necessary and such parties agree to hold all information in strict confidence, (ii) disclosure required by law, rule, regulation or order of a court or other
regulatory body or (iii) disclosure to any potential Takeout Investor but only with respect to the following: (1) the current Repurchase Price, (2) whether or not there are any defaults or terminations of the facility known to Seller,
or (3) the Repurchase Date. Notwithstanding the foregoing or anything to the contrary contained herein or in any other Program Agreement, the parties hereto may disclose to any Persons, without limitation of any kind, the federal, state and
local tax treatment of the Transactions, any fact relevant to understanding the federal, state and local tax treatment of the Transactions, and all materials of any kind (including opinions or other tax analyses) relating to such federal, state and
local tax treatment and that may be relevant to understanding such tax treatment; provided, that Seller may not disclose the name of or identifying information with respect to Buyer or an Affiliate or any pricing terms (including, without
limitation, the Pricing Rate, and Purchase Price) or other nonpublic business or financial information (including any sublimits and Financial Covenants) that is unrelated to the federal, state and local tax treatment of the Transactions and is not
relevant to understanding the federal, state and local tax treatment of the Transactions, without the prior written consent of the Buyer. 

33. Recording of Communications 

Buyer, Seller and Guarantor consent to the tape recordings of communications between its employees and those of the other party with respect to
Transactions and such tape recordings of communications may be used in any court, arbitration, or other proceedings to the extent permitted by law. 

34. Periodic Due Diligence Review 

Each Seller acknowledges that Buyer has the right to perform continuing due diligence reviews with respect to the Seller and the Mortgage Loans
and Agency Securities, for purposes of verifying compliance with the representations, warranties and specifications made hereunder, to review the servicing of the Mortgage Loans, or otherwise, and Seller agrees that upon reasonable (but no less than
three (3) Business Days) prior notice unless an Event of Default shall have occurred, in which case no notice is required, to Seller, Buyer or its authorized representatives will be permitted during normal business hours to examine, inspect,
and make copies and extracts of, the Mortgage Files and any documents, records, agreements, instruments or information relating to such Mortgage Loans in the possession or under the control of Seller and/or the Custodian. Seller also shall make
available to Buyer a knowledgeable financial or accounting officer for the purpose of answering questions respecting the Mortgage Files and the 

  
 61 

 
Mortgage Loans. Without limiting the generality of the foregoing, Seller acknowledges that Buyer may purchase Mortgage Loans from Seller based solely upon the information provided by Seller to
Buyer in the Mortgage Loan Schedule and the representations, warranties and covenants contained herein, and that Buyer, at its option, has the right at any time to conduct a partial or complete due diligence review on some or all of the Mortgage
Loans purchased in a Transaction, including, without limitation, ordering Broker’s price opinions, new credit reports and new appraisals on the related Mortgaged Properties and otherwise re-generating the information used to originate such
Mortgage Loan, which such information may be used by Buyer to calculate Market Value. Buyer may underwrite such Mortgage Loans itself or engage a mutually agreed upon third party underwriter to perform such underwriting. Seller agrees to cooperate
with Buyer and any third party underwriter in connection with such underwriting, including, but not limited to, providing Buyer and any third party underwriter with access to any documents, records, agreements, instruments or information relating to
such Mortgage Loans in the possession, or under the control, of Seller. Seller further agrees that Seller shall pay all out-of-pocket costs and expenses incurred by Buyer in connection with Buyer’s activities pursuant to this
Section 34 (“Due Diligence Costs”). 
 35. Authorizations 

Any of the persons whose signatures and titles appear on Schedule 5 of the Addendum are authorized, acting singly, to act for Guarantor, Seller
or Buyer, as the case may be, under this Agreement. 
 36. Documents Mutually Drafted 

The Seller and the Buyer agree that this Agreement and each other Program Agreement prepared in connection with the Transactions set forth
herein have been mutually negotiated by each party, and consequently such documents shall not be construed against either party as the drafter thereof. 

37. Joint and Several 
 If
there are multiple Guarantors or Sellers, such Guarantors, such Sellers and Buyer hereby acknowledge and agree that Sellers and Guarantors, as applicable, are each jointly and severally liable to Buyer for all of their respective obligations
hereunder. 
 38. Security Interest 

Although the parties intend that all Transactions hereunder be sales and purchases and not loans, Seller hereby pledges to Buyer as security
for performance by Seller of its obligations and hereby grants, assigns and pledges to Buyer a fully perfected first priority security interest in the Purchased Assets. Seller agrees to execute, deliver and/or file such documents and perform such
acts as may be reasonably necessary to fully perfect Buyer’s security interest created hereby. Furthermore, the Seller hereby authorizes the Buyer to file financing statements relating to the Purchased Assets, as the Buyer may deem appropriate.
The Seller shall pay the filing costs for any financing statement or statements prepared pursuant to this Section 38. 

  
 62 

 39. Agency Security Takeout 

a. Prior to an Event of Default, from time to time, the Seller, as an approved Issuer of Ginnie Mae Securities, may agree to issue Ginnie Mae
Securities backed by certain of the Purchased Mortgage Loans or, as an approved Fannie Mae Seller or Freddie Mac Seller, may agree to sell Purchased Mortgage Loans to Fannie Mae or Freddie Mac, as applicable, in exchange for Fannie Mae Securities or
Freddie Mac Securities, as applicable. Buyer will agree to sell the related Purchased Mortgage Loans back to the Seller in satisfaction of the related Repurchase Price and will simultaneously purchase the related Agency Securities (the proceeds from
such sale will be used to satisfy the Repurchase Price with respect to the Purchased Mortgage Loans) from the Seller in a new Transaction. The Agency Securities will be delivered to the Federal Book Account of Buyer, at which time they will be
considered Purchased Agency Securities hereunder. The Seller shall arrange for the sale of the Purchased Agency Securities to a Takeout Broker Dealer, the proceeds of such sale to be credited to Buyer’s account as further provided herein to
satisfy the Repurchase Price with respect to the Purchased Agency Securities. 
 b. As a condition precedent to Buyer agreeing to accept such
Agency Securities as Purchased Agency Securities hereunder, the Seller must comply with all of the following conditions: (i) the Seller shall at all times be (A) a Ginnie Mae Issuer in good standing with the authority to issue securities,
(B) a Fannie Mae Seller in good standing with the authority to sell mortgages or (C) a Freddie Mac Seller in good standing with the authority to sell mortgages, as applicable; (ii) the Agency Custodian shall be the same entity that
serves as Custodian under the Agreement for so long as the Purchased Assets are subject to the Agreement; (iii) the Agency Custodian and the Seller shall have entered into the Master Agency Custodial Agreement, which shall be in full force and
effect at all times; (iv) Seller and the Agency Custodian shall comply with all applicable requirements set forth in the Guide and the Master Agency Custodial Agreement as hereafter amended, modified or superseded and (v) the related
Purchased Mortgage Loans must be subject to an Agency Security Purchase Commitment with a Takeout Broker Dealer. 
 c. The Seller agrees to
comply with the following additional protocol with respect to the Buyer’s purchase of Purchased Agency Securities: 

(1) The Agency Security Purchase Commitment will not describe specific Purchased Mortgage Loans that will underlie the
Purchased Agency Security, but instead shall solely provide for delivery of a Purchased Agency Security. 
 (2) Seller shall
inform Buyer of the Purchased Mortgage Loans that Seller intends to pool in a related Purchased Agency Security. Buyer shall cause the Custodian to make available to the Agency Custodian the Mortgage Files related to such Purchased Mortgage Loans to
enable the Agency Custodian to complete the initial certification(s) pursuant to the Guide. Such Mortgage Files shall at all times remain in the custody of the Custodian or the Agency Custodian. 

  
 63 

 (3) Seller shall designate on (i) the Schedule of Subscribers and Ginnie Mae
Guaranty Agreement (HUD-11705) (A) the Buyer exclusively as the Subscriber/Participant, (B) the Buyer exclusively as the Name of the Individual or Organization Authorized to Take Delivery, and (C) the Buyer’s Fed Member Bank
Information and no other; (ii) the Fannie Mae Delivery Schedule (Fannie Mae Form 2014) the Buyer’s Depository Institution and Telegraphic Abbreviation, ABA Number and Account Name and Account Number and no other and (iii) the Freddie
Mac Delivery Authorization (Freddie Mac Form 939) (A) the Buyer exclusively as the Warehouse Lender and (B) the Buyer’s Security Wire Instructions and no other. Seller shall ensure that the Purchased Agency Securities are delivered to
the Buyer’s Federal Book Account free from obligation or repayment. Seller shall cause a copy of the final completed Schedule of Subscribers and Ginnie Mae Guaranty Agreement, Freddie Mac Delivery Authorization and Fannie Mae Delivery Schedule
to be delivered to the Buyer upon its request. 
 (4) The Buyer shall provide an executed copy of the Release of Security
Interest to the Ginnie Mae Agency Custodian, in the case of Ginnie Mae, and to Fannie Mae or Freddie Mac, as applicable, in the case of Fannie Mae or Freddie Mac, to be held in escrow with respect to any pool of Purchased Mortgage Loans prior to the
issuance of the related Purchased Agency Securities. Any Purchased Mortgage Loans that are not included in the related Purchased Agency Security shall continue to be Purchased Mortgage Loans under the Agreement and the Release of Security Interest
shall not apply to such Purchased Mortgage Loans. 
 (5) All pool and loan packages relating to Purchased Assets are required
to be submitted in electronic form using (i) the GinnieNET system, (ii) MIDANET or the Selling System (Freddie) or (iii) MORNET or Loan Delivery (Fannie), as applicable (such terms as defined in the Guide). 

(6) Simultaneously upon the transfer of the Purchased Agency Security to the Buyer, (i) the Seller shall be construed to
have transferred the Repurchase Price to the Buyer for the related pooled Purchased Mortgage Loans backing such Purchased Agency Security; (ii) the Seller and Buyer shall have entered into a new Transaction with respect such Purchased Agency
Security; (iii) the Buyer shall be construed to have transferred the Purchase Price for the related Purchased Agency Securities to the Seller; and (iv) the Buyer shall be deemed to automatically release the Release of Security Interest
from escrow. 
 (7) Buyer shall deliver the related Purchased Agency Security to the Takeout Broker Dealer, in accordance
with the “delivery vs. payment” procedures of Depositary Trust Company (DTC), simultaneously upon payment for such Purchased Agency Security to the Buyer’s Federal Book Account. 

40. Physical Possession of Records and Files relating to the Purchased Assets 

Buyer shall have the right to obtain physical possession, and to commence an action to obtain physical possession, of all Records and files of
Seller relating to the Purchased Assets and all documents relating to the Purchased Assets (including, without limitation, any legal, credit or servicing files with respect to the Purchased Mortgage Loans) which are then or may thereafter come in to
the possession of Seller or any third party acting for Seller. Buyer shall be entitled to specific performance of all agreements of Seller contained in this Agreement 

  
 64 

 41. Amendment and Restatement 

This Agreement amends and restates in its entirety the Original Agreement. Nothing contained herein shall be construed (a) to be a
novation of the Obligations under the Original Agreement or (b) to release, cancel, terminate or otherwise impair the status or priority of liens or security for the Obligations secured by the Original Agreement. Further, Seller acknowledges
and agrees that this Agreement shall not be considered a new contract, and that all rights, titles, powers, liens and security interests created by or under the Original Agreement or other agreements executed in connection with the transactions
contemplated by this Agreement and the Original Agreement shall continue without interruption in full force and effect. 
 [Signature page to
follow] 

  
 65 

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

			
	WELLS FARGO BANK, N.A., as Buyer
		
	By:	 	 /s/ Ken Logan

		 	 Ken Logan
 Title: Managing Director

Date:

  
 [Wells Fargo –
loanDepot.com, LLC – Amended and Restated Master Repurchase Agreement] 

			
	LOANDEPOT.COM, LLC, as Seller
		
	By:	 	/s/ Jon Frojen
		 	 Title: Chief Financial Officer

Date:

  
 [Wells Fargo –
loanDepot.com, LLC – Amended and Restated Master Repurchase Agreement] 

 ANNEX A 

FINANCIAL COVENANTS 

Definitions: 

Capitalized terms not otherwise defined herein shall have the meanings assigned to such terms in the Agreement. Whenever used in this Annex A
or the Agreement, the following words and phrases, unless the context otherwise requires, shall have the following meanings: 

“Adjusted Tangible Net Worth” means, for any Person, Net Worth of such Person plus Subordinated Debt (if approved for
purposes of this calculation by Buyer in its sole discretion), minus all intangible assets, goodwill, patents, trade names, trademarks, copyrights, franchises, any organizational expenses, deferred expenses, prepaid expenses, prepaid assets,
receivables from shareholders, Affiliates or employees, any other asset as shown as an intangible asset on the balance sheet of such Person on a consolidated basis as determined at a particular date in accordance with GAAP, and any other assets that
Buyer deems, at any time, in its reasonable discretion, as intangible assets or overstated assets. For the avoidance of doubt, Buyer may deem, in its reasonable discretion, any asset as intangible or overstated at any time after the delivery of the
most recent Officer’s Compliance Certificate. Buyer agrees to use reasonable efforts to notify Seller of assets deemed by Buyer to be intangible or materially overstated. 

“Cash Equivalents” means (a) securities with maturities of ninety (90) days or less from the date of acquisition
issued or fully guaranteed or insured by the United States Government or any agency thereof, (b) certificates of deposit and eurodollar time deposits with maturities of ninety (90) days or less from the date of acquisition and overnight
bank deposits with Buyer or any commercial bank having capital and surplus in excess of $200,000,000, plus such deposits in an amount up to the current FDIC-insured limit with any commercial bank having capital and surplus less than or equal to
$200,000,000 (c) repurchase obligations of Buyer or of any commercial bank satisfying the requirements of clause (b) of this definition, having a term of not more than seven (7) days with respect to securities issued or fully
guaranteed or insured by the United States Government, (d) commercial paper of a domestic issuer rated at least A-1 or the equivalent thereof by S&P or P-1 or the equivalent thereof by Moody’s and in either case maturing within ninety
(90) days after the day of acquisition, (e) securities with maturities of ninety (90) days or less from the date of acquisition issued or fully guaranteed by any state, commonwealth or territory of the United States, by any political
subdivision or taxing authority of any such state, commonwealth or territory or by any foreign government, the securities of which state, commonwealth, territory, political subdivision, taxing authority or foreign government (as the case may be) are
rated at least A by S&P or A by Moody’s, (f) securities with maturities of ninety (90) days or less from the date of acquisition backed by standby letters of credit issued by Buyer or any commercial bank satisfying the
requirements of clause (b) of this definition or (g) shares of money market mutual or similar funds which invest exclusively in assets satisfying the requirements of clauses (a) through (f) of this definition. 

“Indebtedness Limit” means $5,000,000 or such other amount as specified in the Addendum. 

 

  
 Annex A-1 

 “Liquidity” means the sum of (i) Unrestricted Cash, (ii) Cash
Equivalents, (iii) any other assets that Buyer deems, in its reasonable discretion, as liquid, less (iv) net borrower escrow liability on any mortgage loans owned or serviced by the Seller and (v) any other such liabilities or
obligations of Seller that Buyer determines, in its reasonable discretion, will result in claims against Seller’s cash within the next sixty (60) days. 

“Liquidity Overhead Coverage” means Liquidity divided by Seller’s Total Expenses. 

“Maximum Financial Exposure” means the difference between the market value of all hedges and the sum of the market value of
all closed loans plus the pipeline of unclosed loans, adjusted for pull through. 
 “Moody’s” means Moody’s
Investors Service, Inc., or any successor thereto. 
 “Net Operating Income” means, with respect to Seller or Guarantor, as
applicable, pre-tax net income from continuing operations for the applicable period then being measured, determined in accordance with GAAP, but excluding depreciation, amortization, changes in fair value of mortgage servicing rights, gains and
losses associated with hedging transactions in respect of mortgage servicing rights, extraordinary items, cumulative effects of changes in accounting principles and impairment of intangible assets. 

“Net Worth” means, with respect to any Person, an amount equal to, on a consolidated basis, such Person’s stockholder
equity, or, if applicable, value of membership or partnership interests, or similar calculations (all determined in accordance with GAAP). 

“Quick Ratio” means Liquidity divided by the sum of: total net current liabilities minus current outstanding warehouse lines
minus borrower escrow liability on any mortgage loans owned or serviced by the Seller. 
 “S&P” means Standard and
Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business, which is a part of McGraw Hill Financial, Inc., or any successor thereto. 

“Subordinated Debt” means, Indebtedness of Seller which (i) is unsecured, (ii) no part of the principal of such
Indebtedness is required to be paid (whether by way of mandatory sinking fund, mandatory redemption, mandatory prepayment or otherwise) prior to the date which is one year following the Termination Date, (iii) the payment of the principal of
and interest on such Indebtedness and other obligations of Seller in respect of such Indebtedness are subordinated to the prior payment in full of the principal of and interest (including post-petition obligations) on the Transactions and all other
obligations and liabilities of Seller to Buyer hereunder, (iv) is not encumbered in any manner, (v) does not impose any duties on the Buyer and (vi) all other terms or conditions are acceptable to Buyer. Buyer must specifically
approve any Subordinated Debt for purposes of inclusion in any impacted Financial Covenants. 
 “Test Period” means any
calendar quarter, or as otherwise set forth in the Addendum, following the Effective Date. 

  
 Annex A-2 

 “Total Expenses” means a Seller’s total expenses (excluding depreciation,
amortization, warehouse line interest, loan officer commissions, broker commissions, tax payments made, extraordinary, non-recurring items, and non-cash adjustments, which include, but are not limited to, changes to capitalized mortgage servicing
rights and changes to loan loss reserve) as set forth on the financial statements submitted for the related Reporting Period. 

“Unrestricted Cash” means cash that is not controlled by or subject to any lien or other preferential arrangement in favor of
any creditor. 
 Covenants: 

Each Seller covenants with Buyer that, at all times during the term of this facility: 

a. Indebtedness. No Indebtedness of Seller exists in an aggregate amount in excess of the Indebtedness Limit other than (i) any
Indebtedness listed on Schedule 2 of the Addendum, (ii) any Indebtedness set forth on the schedule to the most recent Officer’s Compliance Certificate, (iii) any Indebtedness otherwise disclosed to Buyer in writing within five
(5) Business Days following the existence of such Indebtedness and (iv) usual and customary accounts payable for a mortgage and servicing company or any forward or other delayed delivery transaction arrangements involving mortgage backed
securities with a Takeout Investor. 
 b. Maintenance of Profitability. Seller shall not permit, for any Test Period, Net Operating
Income for such Test Period, before income taxes for such Test Period and distributions made during such Test Period, to be less than $1.00. 

c. Adjusted Tangible Net Worth Threshold. Seller shall maintain at all times an Adjusted Tangible Net Worth amount equal to or greater
than the amount set forth on the Addendum for such term. 
 d. Indebtedness to Adjusted Tangible Net Worth Ratio. Seller shall
maintain at all times a ratio of Indebtedness to Adjusted Tangible Net Worth equal to or less than the amount set forth on the Addendum. 

e. Liquidity Threshold. Seller shall maintain at all times a Liquidity amount equal to or greater than the amount set forth on the
Addendum for such term. 
 f. Liquidity Overhead Coverage Ratio. Seller shall maintain at all times a Liquidity Overhead Coverage
ratio equal to or greater than the amount set forth on the Addendum. 
 g. Maximum Financial Exposure. Seller shall maintain at all
times a Maximum Financial Exposure amount equal to or less than the amount set forth on the Addendum for such term. 
 h. Quick Ratio.
Seller shall maintain at all times a Quick Ratio in an amount equal to or greater than the amount set forth on the Addendum for such term. 

i. Unrestricted Cash Threshold. Seller shall maintain at all times Unrestricted Cash in an amount equal to or greater than the amount
set forth on the Addendum for such term. 

  
 Annex A-3 

 SCHEDULE 1 

REPRESENTATIONS AND WARRANTIES WITH RESPECT TO 

PURCHASED MORTGAGE LOANS 

(a) Payments Current. All payments required to be made up to the Purchase Date for the Mortgage Loan under the terms of the Mortgage
Note have been made and credited. No payment required under the Mortgage Loan is delinquent nor has any payment under the Mortgage Loan been delinquent at any time since the origination of the Mortgage Loan. The first Monthly Payment shall be made,
or shall have been made, with respect to the Mortgage Loan on its Due Date or within thirty (30) days thereof, all in accordance with the terms of the related Mortgage Note. 

(b) No Outstanding Charges. All taxes and governmental assessments or other similar charges, levies or assessments, insurance premiums,
water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which
has been assessed but is not yet due and payable. Neither Seller nor the Qualified Originator from which Seller acquired the Mortgage Loan has advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the
Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the proceeds of the Mortgage Loan, whichever is earlier, to
the day which precedes by one (1) month the Due Date of the first installment of principal and/or interest thereunder. 
 (c)
Original Terms Unmodified. The terms of the Mortgage Note and Mortgage have not been impaired, waived, altered or modified in any respect, from the date of origination; except by a written instrument which has been recorded, if necessary to
protect the interests of Buyer, and which has been delivered to the Custodian and the terms of which are reflected in the Mortgage Loan Schedule. The substance of any such waiver, alteration or modification has been approved by the title insurer, to
the extent required, and its terms are reflected on the Mortgage Loan Schedule. No Mortgagor in respect of the Mortgage Loan has been released, in whole or in part, except in connection with an assumption agreement approved by the title insurer, to
the extent required by such policy, and which assumption agreement is part of the Mortgage File delivered to the Custodian and the terms of which are reflected in the Mortgage Loan Schedule. The related Mortgage and Mortgage Note contain the entire
agreement of the parties and all of the obligations of the Seller under the Purchased Mortgage Loan. 
 (d) No Defenses. The Mortgage
Loan is not subject to any right of rescission, set-off, counterclaim or defense, including, without limitation, the defense of usury, nor will the operation of any of the terms of the Mortgage Note or the Mortgage, or the exercise of any right
thereunder, render either the Mortgage Note or the Mortgage unenforceable, in whole or in part and no such right of rescission, set-off, counterclaim or defense has been asserted with respect thereto, and no Mortgagor in respect of the Mortgage Loan
was a debtor in any state or Federal bankruptcy or insolvency proceeding at the time the Mortgage Loan was originated. Seller has no knowledge nor has it received any notice that any Mortgagor in respect of the Mortgage Loan is a debtor in any state
or federal bankruptcy or insolvency proceeding. 
  

  
 Schedule 1-1 

 (e) Hazard Insurance. The Mortgaged Property is insured by a fire and extended perils
insurance policy, issued by a Qualified Insurer, and such other hazards as are customary in the area where the Mortgaged Property is located, and to the extent required by Seller as of the date of origination consistent with the Guide, against
earthquake and other risks insured against by Persons operating like properties in the locality of the Mortgaged Property, in an amount not less than one hundred percent (100)% of the replacement cost of all improvements to the Mortgaged Property,
and consistent with the amount that would have been required as of the date of origination in accordance with the Guide. If any portion of the Mortgaged Property is in an area identified by any federal Governmental Authority as having special flood
hazards, and flood insurance is available, a flood insurance policy meeting the current guidelines of the Federal Emergency Management Agency is in effect with a generally acceptable insurance carrier, in an amount representing coverage not less
than the least of (1) the outstanding principal balance of the Mortgage Loan, (2) the full insurable value of the Mortgaged Property, and (3) the maximum amount of insurance available under the National Flood Insurance Act of 1968, as
amended by the Flood Disaster Protection Act of 1974. All such insurance policies (collectively, the “hazard insurance policy”) contain a standard mortgagee clause naming Seller, its successors and assigns (including, without limitation,
subsequent owners of the Mortgage Loan), as mortgagee, and may not be reduced, terminated or canceled without thirty (30) days’ prior written notice to the mortgagee. No such notice has been received by Seller. All premiums on such
insurance policy have been paid. The related Mortgage obligates the Mortgagor to maintain all such insurance and, at such Mortgagor’s failure to do so, authorizes the mortgagee to maintain such insurance at the Mortgagor’s cost and expense
and to seek reimbursement therefor from such Mortgagor. Where required by state law or regulation, the Mortgagor has been given an opportunity to choose the carrier of the required hazard insurance, provided the policy is not a “master” or
“blanket” hazard insurance policy covering a condominium, or any hazard insurance policy covering the common facilities of a planned unit development. The hazard insurance policy is the valid and binding obligation of the insurer and is in
full force and effect. Seller has not engaged in, and has no knowledge of the Mortgagor’s having engaged in, any act or omission which would impair the coverage of any such policy, the benefits of the endorsement provided for herein, or the
validity and binding effect of either including, without limitation, no unlawful fee, commission, kickback or other unlawful compensation or value of any kind has been or will be received, retained or realized by any attorney, firm or other Person,
and no such unlawful items have been received, retained or realized by Seller. 
 (f) Compliance with Applicable Laws. Any
requirements of any federal, state or local law including, without limitation, usury, truth-in-lending, real estate settlement procedures, consumer credit protection, equal credit opportunity or disclosure laws applicable to the Mortgage Loan have
been complied with, the consummation of the transactions contemplated hereby will not involve the violation of any such laws or regulations, and Seller shall maintain or shall cause its agent to maintain in its possession, available for the
inspection of Buyer, and shall deliver to Buyer, upon demand, evidence of compliance with all such requirements. 

  
 Schedule 1-2 

 (g) No Satisfaction of Mortgage. The Mortgage has not been satisfied, canceled,
subordinated or rescinded, in whole or in part, and the Mortgaged Property has not been released from the lien of the Mortgage, in whole or in part, nor has any instrument been executed that would effect any such release, cancellation, subordination
or rescission. Seller has not waived the performance by the Mortgagor of any action, if the Mortgagor’s failure to perform such action would cause the Mortgage Loan to be in default, nor has Seller waived any default resulting from any action
or inaction by the Mortgagor. 
 (h) Location and Type of Mortgaged Property. The Mortgaged Property is located in an Acceptable State
and consists of a single parcel of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual condominium unit in a low-rise condominium project, or an individual unit in a planned unit
development or a de minimis planned unit development; provided, however, that any condominium unit or planned unit development shall conform with the applicable Fannie Mae and Freddie Mac requirements regarding such dwellings or shall
conform to underwriting guidelines acceptable to Buyer in its discretion, that a de minimus percentage of the Mortgage Loans may be Cooperative Mortgage Loans and that no residence or dwelling is a (i) a mobile home or manufactured housing unit
(other than a Manufactured Home) not secured by real property, (ii) a log home, (iii) an earthen home, (iv) an underground home, (v) any dwelling situated on more than ten (10) acres of property and (vi) any dwelling
situated on a leasehold estate. No portion of the Mortgaged Property is used for commercial purposes; provided, that, the Mortgaged Property may be a mixed use property if such Mortgaged Property conforms to underwriting guidelines acceptable
to Buyer in its discretion With respect to each Loan that is a Manufactured Home, such unit is a “single family residence” within the meaning of Section 25(e)(1) of the Code, and has a minimum of four hundred (400) square feet of
living space, a minimum width of one hundred two (102) inches and is of a kind customarily used at a fixed location. The fair market value of the Manufactured Home securing each contract was at least equal to eighty percent (80%) of the
total price of the contract (including land) at either (i) the time the contract was originated (determined pursuant to the REMIC Provisions) or (ii) the time the contract is transferred to the purchaser. 

(i) Valid First Lien. The Mortgage is a valid, subsisting, enforceable and perfected first priority lien and first priority security
interest on the real property included in the Mortgaged Property, including all buildings on the Mortgaged Property and all installations and mechanical, electrical, plumbing, heating and air conditioning systems located in or annexed to such
buildings, and all additions, alterations and replacements made at any time with respect to the foregoing and with respect to Cooperative Mortgage Loans, including the Proprietary Lease and the Cooperative Shares. The lien of the Mortgage is subject
only to: 
 a. the lien of current real property taxes and assessments not yet due and payable; 

b. covenants, conditions and restrictions, rights of way, easements and other matters of the public record as of the date of recording
acceptable to prudent mortgage lending institutions generally and specifically referred to in Buyer’s title insurance policy delivered to the originator of the Mortgage Loan and (a) referred to or otherwise considered in the appraisal made
for the originator of the Mortgage Loan or (b) which do not adversely affect the Appraised Value of the Mortgaged Property set forth in such appraisal; and 

  
 Schedule 1-3 

 c. other matters to which like properties are commonly subject which do not materially interfere
with the benefits of the security intended to be provided by the Mortgage or the use, enjoyment, value or marketability of the related Mortgaged Property. 

Any security agreement, chattel mortgage or equivalent document related to and delivered in connection with the Mortgage Loan establishes and creates a valid,
subsisting and enforceable first lien and first priority security interest on the property described therein and Seller has full right to pledge and assign the same to Buyer. The Mortgaged Property was not, as of the date of origination of the
Mortgage Loan, subject to a mortgage, deed of trust, deed to secure debt or other security instrument creating a lien subordinate to the lien of the Mortgage. 

(j) Validity of Mortgage Documents. The Mortgage Note and the Mortgage and any other agreement executed and delivered by a Mortgagor or
guarantor, if applicable, in connection with a Mortgage Loan are genuine, and each is the legal, valid and binding obligation of the maker thereof enforceable in accordance with its terms. All parties to the Mortgage Note, the Mortgage and any other
such related agreement had legal capacity to enter into the Mortgage Loan and to execute and deliver the Mortgage Note, the Mortgage and any such agreement, and the Mortgage Note, the Mortgage and any other such related agreement have been duly and
properly executed by such related parties. No fraud, error, omission, misrepresentation, negligence or similar occurrence with respect to a Mortgage Loan has taken place on the part of any Person, including, without limitation, the Mortgagor, any
appraiser, any builder or developer, or any other party involved in the origination of the Mortgage Loan. Seller has reviewed all of the documents constituting the Mortgage File and has made such inquiries as it deems necessary to make and confirm
the accuracy of the representations set forth herein. To the best of Seller’s knowledge, except as disclosed to Buyer in writing, all tax identifications and property descriptions are legally sufficient; and tax segregation, where required, has
been completed. 
 (k) Full Disbursement of Proceeds. There is no further requirement for future advances under the Mortgage Loan, and
any requirements as to completion of any on-site or off-site improvement and as to disbursements of any escrow funds therefor have been complied with. All costs, fees and expenses incurred in making or closing the Mortgage Loan and the recording of
the Mortgage were paid, and the Mortgagor is not entitled to any refund of any amounts paid or due under the Mortgage Note or Mortgage. 

(l) Ownership. Seller has full right to sell the Mortgage Loan to Buyer free and clear of any encumbrance, equity, participation
interest, lien, pledge, charge, claim or security interest, and has full right and authority subject to no interest or participation of, or agreement with, any other party, to sell each Mortgage Loan pursuant to this Agreement and following the sale
of each Mortgage Loan, Buyer will own such Mortgage Loan free and clear of any encumbrance, equity, participation interest, lien, pledge, charge, claim or security interest except any such security interest created pursuant to the terms of this
Agreement. 

  
 Schedule 1-4 

 (m) Doing Business. All parties which have had any interest in the Mortgage Loan, whether
as mortgagee, assignee, pledgee or otherwise, are (or, during the period in which they held and disposed of such interest, were) (i) in compliance with any applicable licensing requirements of the laws of the state wherein the Mortgaged
Property is located, and (ii) either (A) organized under the laws of such state, (B) qualified to do business in such state, (C) a federal savings and loan association, a savings bank or a national bank having a principal office
in such state, or (D) not doing business in such state. 
 (n) Title Insurance. The Mortgage Loan is covered by either
(i) an irrevocable title commitment, or an attorney’s opinion of title and abstract of title, each of which must be in form and substance acceptable to prudent mortgage lending institutions making mortgage loans in the area wherein the
Mortgaged Property is located or (ii) an ALTA lender’s title insurance policy or other generally acceptable form of policy or insurance acceptable to Fannie Mae or Freddie Mac and each such title insurance policy is issued by a title
insurer acceptable to Fannie Mae or Freddie Mac and qualified to do business in the jurisdiction where the Mortgaged Property is located, insuring Seller, its successors and assigns, as to the first priority lien of the Mortgage, as applicable, in
the original principal amount of the Mortgage Loan, subject only to the exceptions contained in clauses (a), (b) and (c) of paragraph (i) of this Schedule 1, and in the case of adjustable rate Mortgage Loans, against any loss
by reason of the invalidity or unenforceability of the lien resulting from the provisions of the Mortgage providing for adjustment to the Mortgage Interest Rate and Monthly Payment. Where required by state law or regulation, the Mortgagor has been
given the opportunity to choose the carrier of the required mortgage title insurance. Additionally, such lender’s title insurance policy affirmatively insures ingress and egress and against encroachments by or upon the Mortgaged Property or any
interest therein. The title policy does not contain any special exceptions (other than the standard exclusions) for zoning and uses and has been marked to delete the standard survey exception or to replace the standard survey exception with a
specific survey reading. Seller, its successors and assigns, are the sole insureds of such lender’s title insurance policy, and such lender’s title insurance policy is valid and remains in full force and effect and will be in force and
effect upon the consummation of the transactions contemplated by this Agreement. No claims have been made under such lender’s title insurance policy, and no prior holder or servicer of the related Mortgage, including Seller, has done, by act or
omission, anything which would impair the coverage of such lender’s title insurance policy, including, without limitation, no unlawful fee, commission, kickback or other unlawful compensation or value of any kind has been or will be received,
retained or realized by any attorney, firm or other Person, and no such unlawful items have been received, retained or realized by Seller. 

(o) No Defaults. There is no default, breach, violation or event of acceleration existing under the Mortgage or the Mortgage Note and no
event has occurred which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event of acceleration, and neither Seller nor its predecessors have waived any
default, breach, violation or event of acceleration. 
 (p) No Mechanics’ Liens. There are no mechanics’ or similar liens or
claims which have been filed for work, labor or material (and no rights are outstanding that under the law could give rise to such liens) affecting the Mortgaged Property which are or may be liens prior to, or equal or coordinate with, the lien of
the Mortgage. 

  
 Schedule 1-5 

 (q) Location of Improvements; No Encroachments. All improvements which were considered in
determining the Appraised Value of the Mortgaged Property lie wholly within the boundaries and building restriction lines of the Mortgaged Property, and no improvements on adjoining properties encroach upon the Mortgaged Property. No improvement
located on or being part of the Mortgaged Property is in violation of any applicable zoning and building law, ordinance or regulation. 
 (r)
Payment Terms. Principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the Mortgage Loan. With respect to adjustable rate Mortgage Loans, the Mortgage
Interest Rate is adjusted on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest .125%), subject to the Mortgage Interest Rate Cap. The Mortgage Note is payable on the first (1st) day of each month in equal monthly installments of principal and/or interest (subject to an “interest only” period in the case of Interest Only Loans), which installments of interest
(a) with respect to adjustable rate Mortgage Loans are subject to change on the Interest Rate Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only
Loans are subject to change on the Interest Only Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Only Adjustment Date, in both cases with interest calculated and payable in arrears, sufficient to amortize the
Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) years from commencement of amortization. The Due Date of the first payment under the Mortgage Note is no more than sixty (60) days from the
date of the Mortgage Note. The Mortgage Note does not permit Negative Amortization. 
 (s) Customary Provisions. The Mortgage Note has
a stated maturity. The Mortgage contains customary and enforceable provisions such as to render the rights and remedies of the holder thereof adequate for the realization against the Mortgaged Property of the benefits of the security provided
thereby, including, (i) in the case of a Mortgage designated as a deed of trust, by trustee’s sale, and (ii) otherwise by judicial foreclosure. Upon default by a Mortgagor on a Mortgage Loan and foreclosure on, or trustee’s sale
of, the Mortgaged Property pursuant to the proper procedures, the holder of the Mortgage Loan will be able to deliver good and merchantable title to the Mortgaged Property. There is no homestead or other exemption available to a Mortgagor which
would interfere with the right to sell the Mortgaged Property at a trustee’s sale or the right to foreclose the Mortgage. The Mortgage Note and Mortgage are on forms acceptable to Freddie Mac or Fannie Mae. 

(t) Occupancy of the Mortgaged Property. As of the Purchase Date the Mortgaged Property is lawfully permitted to be occupied under
applicable law. All inspections, licenses and certificates required to be made or issued with respect to all occupied portions of the Mortgaged Property and, with respect to the use and occupancy of the same, including but not limited to
certificates of occupancy and fire underwriting certificates, have been made or obtained from the appropriate authorities. Seller has not received notification from any Governmental Authority that the Mortgaged Property is in material non-compliance
with such laws or regulations, is being used, operated or occupied unlawfully or has failed to have or obtain such inspection, licenses or certificates, as the case may be. Seller has not received notice of any violation or failure to conform with
any such law, ordinance, regulation, standard, license or certificate. With respect to any Mortgage Loan originated with an “owner-occupied” Mortgaged Property, the Mortgagor represented at the time of origination of the Mortgage Loan that
the Mortgagor would occupy the Mortgaged Property as the Mortgagor’s primary residence. 

  
 Schedule 1-6 

 (u) No Additional Collateral. The Mortgage Note is not and has not been secured by any
collateral except the lien of the corresponding Mortgage and the security interest of any applicable security agreement or chattel mortgage referred to in clause (i) above. 

(v) Deeds of Trust. In the event the Mortgage constitutes a deed of trust, a trustee, authorized and duly qualified under applicable law
to serve as such, has been properly designated and currently so serves and is named in the Mortgage, and no fees or expenses are or will become payable by the Custodian or Buyer to the trustee under the deed of trust, except in connection with a
trustee’s sale after default by the Mortgagor. 
 (w) Transfer of Mortgage Loans. Except with respect to Mortgage Loans
registered with MERS, the Assignment of Mortgage is in recordable form and is acceptable for recording under the laws of the jurisdiction in which the Mortgaged Property is located. With respect to each MOM Mortgage Loan, the related Assignment of
Mortgage to MERS has been duly and properly recorded, or has been delivered for recording to the applicable recording office. 
 (x)
Due-On-Sale. The Mortgage contains an enforceable provision for the acceleration of the payment of the unpaid principal balance of the Mortgage Loan in the event that the Mortgaged Property is sold or transferred without the prior written
consent of the mortgagee thereunder. 
 (y) No Buydown Provisions; No Graduated Payments or Contingent Interests. The Mortgage Loan
does not contain provisions pursuant to which Monthly Payments are paid or partially paid with funds deposited in any separate account established by Seller, the Mortgagor, or anyone on behalf of the Mortgagor, or paid by any source other than the
Mortgagor nor does it contain any other similar provisions which may constitute a “buydown” provision. The Mortgage Loan is not a graduated payment mortgage loan and the Mortgage Loan does not have a shared appreciation or other contingent
interest feature. 
 (z) Consolidation of Future Advances. Any future advances made to the Mortgagor prior to the Purchase Date have
been consolidated with the outstanding principal amount secured by the Mortgage, and the secured principal amount, as consolidated, bears a single interest rate and single repayment term. The lien of the Mortgage securing the consolidated principal
amount is expressly insured as having first lien priority by a title insurance policy, an endorsement to the policy insuring the mortgagee’s consolidated interest or by other title evidence acceptable to Fannie Mae and Freddie Mac. The
consolidated principal amount does not exceed the original principal amount of the Mortgage Loan. 
 (aa) Mortgaged Property
Undamaged. The related Mortgaged Property is free of damage and waste; and there are no proceedings pending for the total or partial condemnation of such Mortgaged Property. 

  
 Schedule 1-7 

 (bb) Collection Practices; Escrow Deposits; Interest Rate Adjustments. The origination and
collection practices used by the originator, each servicer of the Mortgage Loan and Seller with respect to the Mortgage Loan have been in all respects in compliance with Accepted Servicing Practices, applicable laws and regulations, and have been in
all respects legal and proper. With respect to escrow deposits and Escrow Payments, all such payments are in the possession of, or under the control of, Seller and there exist no deficiencies in connection therewith for which customary arrangements
for repayment thereof have not been made. All Escrow Payments have been collected in full compliance with state and federal law. An escrow of funds is not prohibited by applicable law and has been established in an amount sufficient to pay for every
item that remains unpaid and, where required or requested, has been assessed but is not yet due and payable. No escrow deposits or Escrow Payments or other charges or payments due Seller have been capitalized under the Mortgage or the Mortgage Note.
All Mortgage Interest Rate adjustments have been made in strict compliance with state and federal law and the terms of the related Mortgage Note. Any interest required to be paid pursuant to state, federal and local law has been properly paid and
credited. 
 (cc) Conversion to Fixed Interest Rate. Except as allowed by Fannie Mae or Freddie Mac or otherwise as expressly approved
in writing by Buyer, with respect to adjustable rate Mortgage Loans, the Mortgage Loan is not convertible to a fixed interest rate Mortgage Loan. 

(dd) Other Insurance Policies. No action, inaction or event has occurred and no state of facts exists or has existed that has resulted
or will result in the exclusion from, denial of, or defense to coverage under any applicable special hazard insurance policy, PMI Policy or bankruptcy bond, irrespective of the cause of such failure of coverage. In connection with the placement of
any such insurance, no commission, fee, or other compensation has been or will be received by Seller or by any officer, director, or employee of Seller or any designee of Seller or any corporation in which Seller or any officer, director, or
employee had a financial interest at the time of placement of such insurance. 
 (ee) Servicemembers Civil Relief Act. The Mortgagor
has not notified Seller, and Seller has no knowledge, of any relief requested or allowed to the Mortgagor under the Servicemembers Civil Relief Act of 2003. 

(ff) Appraisal. The Mortgage File with respect to such Mortgage Loan contains an appraisal of the related Mortgaged Property made and
signed, prior to the approval of the application for such Mortgage Loan, by a qualified appraiser (a) who, at the time of such appraisal, met the minimum qualifications of Fannie Mae or Freddie Mac and the requirements of the Seller’s
appraisal policy and (b) who satisfied (and which appraisal was conducted in accordance with) all of the applicable requirements of the Uniform Standards of Professional Appraisal Practice and all applicable federal and state laws and
regulations in effect at the time of such appraisal and procedures. Such appraiser was licensed in the state where the Mortgaged Property is located, had no interest, direct or indirect, in such Mortgaged Property or in any loan made on the security
thereof, and such appraiser’s compensation was not affected by the approval or disapproval of such Mortgage Loan. The appraisal shall have been made within one hundred eighty (180) days of the origination of the Mortgage Loan. If the
appraisal was made more than one hundred twenty (120) days before the origination of the Mortgage Loan, Seller shall have received and included in the servicing file a recertification of the appraisal. 

  
 Schedule 1-8 

 (gg) Disclosure Materials. The Mortgagor has executed a statement to the effect that the
Mortgagor has received all disclosure materials required by applicable law with respect to the making of adjustable rate mortgage loans, and Seller maintains such statement in the Mortgage File. 

(hh) Construction or Rehabilitation of Mortgaged Property. No Mortgage Loan was made in connection with the construction or
rehabilitation of a Mortgaged Property or facilitating the trade-in or exchange of a Mortgaged Property. 
 (ii) No Defense to Insurance
Coverage. No action has been taken or failed to be taken, no event has occurred and no state of facts exists or has existed on or prior to the Purchase Date (whether or not known to Seller on or prior to such date) which has resulted or will
result in an exclusion from, denial of, or defense to coverage under any private mortgage insurance (including, without limitation, any exclusions, denials or defenses which would limit or reduce the availability of the timely payment of the full
amount of the loss otherwise due thereunder to the insured) whether arising out of actions, representations, errors, omissions, negligence, or fraud of Seller, the related Mortgagor or any party involved in the application for such coverage,
including the appraisal, plans and specifications and other exhibits or documents submitted therewith to the insurer under such insurance policy, or for any other reason under such coverage, but not including the failure of such insurer to pay by
reason of such insurer’s breach of such insurance policy or such insurer’s financial inability to pay. 
 (jj) Capitalization of
Interest. The Mortgage Note does not by its terms provide for the capitalization or forbearance of interest. 
 (kk) No Equity
Participation. No document relating to the Mortgage Loan provides for any contingent or additional interest in the form of participation in the cash flow of the Mortgaged Property or a sharing in the appreciation of the value of the Mortgaged
Property. The indebtedness evidenced by the Mortgage Note is not convertible to an ownership interest in the Mortgaged Property or the Mortgagor and Seller has not financed nor does Seller own directly or indirectly, any equity of any form in the
Mortgaged Property or the Mortgagor. 
 (ll) Proceeds of Mortgage Loan. The proceeds of the Mortgage Loan have not been and shall not
be used to satisfy, in whole or in part, any debt owed or owing by the Mortgagor to Seller or any Affiliate or correspondent of Seller, except in connection with a refinanced Mortgage Loan. 

(mm) Origination Date. The origination date of a Mortgage Loan is no earlier than thirty (30) days prior to the related Purchase
Date. 
 (nn) No Exception. The Custodian has not noted any material exceptions on a Mortgage Loan Schedule with respect to the
Mortgage Loan which would materially adversely affect the Mortgage Loan or Buyer’s interest in the Mortgage Loan. 
 (oo) Mortgage
Submitted for Recordation. The Mortgage either has been or will promptly be submitted for recordation in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located. 

  
 Schedule 1-9 

 (pp) Documents Genuine. Such Purchased Mortgage Loan and all accompanying Collateral
Documents are complete and authentic and all signatures thereon are genuine. 
 (qq) Bona Fide Loan. Such Purchased Mortgage Loan
arose from a bona fide loan, complying with all applicable State and Federal laws and regulations, to persons having legal capacity to contract and is not subject to any defense, set off or counterclaim. 

(rr) Other Encumbrances. Any property subject to any security interest given in connection with such Purchased Mortgage Loan is not
subject to any other encumbrances other than a stated first mortgage, if applicable, and encumbrances which may be allowed under the Guide. 

(ss) Description. Each Purchased Mortgage Loan conforms to the description thereof as set forth on the related Mortgage Loan Schedule
delivered to the Custodian and Buyer. 
 (tt) Underwriting Guidelines. Each Purchased Mortgage Loan has been originated in accordance
with the Underwriting Guidelines (including all supplements or amendments thereto) in effect as of the date the Transaction is entered into and as previously provided to Buyer. 

(uu) Primary Mortgage Guaranty Insurance. After the funding of the Purchased Mortgage Loan and payment of any premium thereafter, each
Mortgage Loan is insured as to payment defaults by a policy of primary mortgage guaranty insurance in the amount required where applicable, and by an insurer approved, by the applicable Takeout Investor, if applicable, and all provisions of such
primary mortgage guaranty insurance have been and are being complied with, such policy is in full force and effect, and all premiums due thereunder have been paid. Each Mortgage Loan which is represented to Buyer to have, or to be eligible for, FHA
insurance is insured, or eligible to be insured, pursuant to the National Housing Act. Each Mortgage Loan which is represented by Seller to be guaranteed, or to be eligible for guaranty, by the VA is guaranteed, or eligible to be guaranteed, under
the provisions of Chapter 37 of Title 38 of the United States Code. As to each FHA insurance certificate or each VA guaranty certificate, Seller has complied with applicable provisions of the insurance for guaranty contract and federal statutes and
regulations, all premiums or other charges due in connection with such insurance or guarantee have been paid, there has been no act or omission which would or may invalidate any such insurance or guaranty, and the insurance or guaranty is, or when
issued, will be, in full force and effect with respect to each Mortgage Loan. There are no defenses, counterclaims, or rights of setoff affecting the Mortgage Loans or affecting the validity or enforceability of any private mortgage insurance or FHA
insurance applicable to the Mortgage Loans or any VA guaranty with respect to the Mortgage Loans. 
 (vv) Predatory Lending Regulations;
High Cost Loans. None of the Mortgage Loans are classified as High Cost Mortgage Loans. 
 (ww) Wet-Ink Mortgage Loans. With
respect to each Mortgage Loan that is a Wet-Ink Mortgage Loan, the Authorized Funds Recipient has been instructed in writing by Seller to (a) hold the related Mortgage Loan Documents as agent and bailee for Buyer and to promptly forward such
Mortgage Loan Documents in accordance with the provisions of the Custodial Agreement and the Closing Instruction Letter and (b) return Buyer’s payment in the event that the Mortgage Loan does not close within twenty-four (24) hours of
receipt of Buyer’s funds. 

  
 Schedule 1-10 

 (xx) FHA Mortgage Insurance; VA Loan Guaranty. With respect to the FHA Loans, the FHA
Mortgage Insurance Contract is in full force and effect or all required documentation has been successfully submitted to the appropriate insuring agency within fifteen (15) days of the date of a Transaction. There has been no notice, indication
of ineligibility or rejection of the loan and there exists no impairment to full recovery without indemnity to the Department of Housing and Urban Development or the FHA under FHA Mortgage Insurance. With respect to the VA Loans, after the funding
of the Purchased Mortgage Loan and payment of any premium thereafter, the VA Loan Guaranty Agreement is in full force and effect to the maximum extent stated therein or all required documentation has been successfully submitted to the appropriate
agency within fifteen (15) days of the date of a Transaction. All necessary steps have been taken to keep such guaranty or insurance valid, binding and enforceable and each of such is the binding, valid and enforceable obligation of the FHA and
the VA, respectively, to the full extent thereof, without surcharge, set-off or defense. Each FHA Loan and VA Loan was originated in accordance with the criteria of an acceptable Takeout Investor approved by Buyer. 

(yy) Cooperative Mortgage Loans. With respect to each Cooperative Mortgage Loan, (i) the term of the related Proprietary Lease is
longer than the term of the Cooperative Mortgage Loan, (ii) there is no provision in any Proprietary Lease which requires the Mortgagor to offer for sale the Cooperative Shares owned by such Mortgagor first to the Cooperative Corporation,
(iii) there is no prohibition in any Proprietary Lease against pledging the Cooperative Shares or assigning the Proprietary Lease and (iv) the recognition agreement is on a form of agreement published by the Aztech Document Systems, Inc.
or includes provisions which are no less favorable to the lender than those contained in such agreement. 
 (zz) Cooperative Filings.
With respect to each Cooperative Mortgage Loan, each original UCC financing statement, continuation statement or other governmental filing or recordation necessary to create or preserve the perfection and priority of the first priority lien and
security interest in the Cooperative Shares and Proprietary Lease has been timely and properly made. Any security agreement, chattel mortgage or equivalent document related to the Cooperative Mortgage Loan and delivered to Seller or its designee
establishes in Seller a valid and subsisting perfected first lien on and security interest in the Mortgaged Property described therein, and Seller has full right to sell and assign the same. 

(aaa) Cooperative Assignment. With respect to each Cooperative Mortgage Loan, each acceptance of assignment and assumption of lease
agreement contains enforceable provisions such as to render the rights and remedies of the holder thereof adequate for the realization of the benefits of the security provided thereby. The acceptance of assignment and assumption of lease agreement
contains an enforceable provision for the acceleration of the payment of the unpaid principal balance of the Note in the event the Cooperative Unit is transferred or sold without the consent of the holder thereof. 

(bbb) LTV; CLTV. The LTV and CLTV, as applicable, of any Purchased Mortgage Loan at origination was in accordance with the applicable
Guide, unless otherwise specified in the Manual, or if such percentage is not set forth in the Manual, then the percentage set forth in the Addendum. 

  
 Schedule 1-11 

 (ccc) No Adverse Selection. Such Mortgage Loan was not intentionally selected by the
Seller in a manner intended to adversely affect the interest of the Buyer. The Seller used no selection procedures that identified such Mortgage Loan as being less desirable or valuable than other comparable Mortgage Loans originated by the Seller.
Such Mortgage Loans, collectively with the other Mortgage Loans included on such Mortgage Loan Schedule, is representative of the Seller’s portfolio of Mortgage Loans. 

(ddd) Single Original Mortgage Note. There is only one originally executed Mortgage Note; provided, however, that if there
is more than one signed note, then each page of such additional note will have “Duplicate,” “Copy” or similar language clearly stamped on it. 

(eee) Acceptable Investment. The Mortgagor is not in bankruptcy or insolvent and Seller has no knowledge of any circumstances or
conditions with respect to the Mortgage, the Mortgaged Property, the Mortgagor or the Mortgagor’s credit standing that can reasonably be expected to cause private institutional investors to regard the Mortgage Loan as an unacceptable
investment, cause the Mortgage Loan to become a Sub-Performing Mortgage Loan, or adversely affect the value or marketability of the Mortgage Loan. 

(fff) Environmental Matters. The Mortgaged Property is free from any toxic or hazardous substances and there exists no violation of any
local, state or federal environmental law, rule or regulation. There is no pending action or proceeding directly involving any Mortgaged Property in which compliance with any environmental law, rule or regulation is an issue; and nothing further
remains to be done to satisfy in full all requirements of each such law, rule or regulation existing as a prerequisite to use and enjoyment of said property. 

(ggg) Regarding the Mortgagor. The Mortgagor is one or more natural persons or a trustee under a “living trust” and such
“living trust” is in compliance with the applicable Takeout Investor guidelines for such trusts. 
 (hhh) Insurance. Seller
has caused or will cause to be performed any acts required to preserve the rights and remedies of Buyer in any insurance policies applicable to the Mortgage Loans including, without limitation, any necessary notifications of insurers, assignments of
policies or interests therein, and establishments of coinsured, joint loss payee and mortgagee rights in favor of Buyer. 
 (iii) Simple
Interest Mortgage Loans. None of the Mortgage Loans are simple interest Mortgage Loans. 
 (jjj) Prepayment Fee. With respect to
each Mortgage Loan that has a prepayment fee feature, each such prepayment fee is enforceable and was originated in compliance with all applicable federal, state and local laws and will be enforced by Seller for the benefit of Buyer, and is only
payable during the first three (3) years of the term of the Mortgage Loan. The Mortgagor received a benefit in exchange for accepting such prepayment fee. 

  
 Schedule 1-12 

 (kkk) Flood Certification Contract. Seller shall have obtained a life of loan,
transferable flood certification contract for each Mortgage Loan and shall assign all such contracts to Buyer. 
 (lll) Endorsements.
Each Mortgage Note has been endorsed by a duly authorized officer of Seller for its own account and not as a fiduciary, trustee, trustor or beneficiary under a trust agreement. 

(mmm) Accuracy of Information. All information provided to Buyer by Seller with respect to the Mortgage Loans is accurate in all
material respects. 
 (nnn) Single Premium Credit Insurance. No Mortgagor is offered or required to purchase single premium credit
insurance in connection with the origination of the related Mortgage Loan. 
 (ooo) MIP Insurance. With respect to each Mortgage Loan
to be insured by HUD or the VA, after the funding of the Purchased Mortgage Loan and payment of any premium thereafter, all insurance premiums (“MIP”) payable to HUD or the VA, as applicable, in connection with such Mortgage Loan were paid
within the timeframe required by such agency to avoid the imposition of any late fees or penalty fees. 
 (ppp) MIP Insurance
Certificate. With respect to each Mortgage Loan to be insured by HUD or the VA, after the funding of the Purchased Mortgage Loan and payment of any premium thereafter, Seller has received the related insurance certificate from the applicable
agency evidencing such insurance within sixty (60) days of the origination date of such Mortgage Loan. 
 (qqq) MIP Documents.
With respect to each Mortgage Loan to be insured by HUD or the VA, after the funding of the Purchased Mortgage Loan and payment of any premium thereafter, Seller has submitted all documents required by the applicable agency to insure such Mortgage
Loan (regardless of whether such documents are required to be contained in the related servicing file) within thirty (30) days of the origination date of such Mortgage Loan. 

(rrr) MIP Access. With respect to each Mortgage Loan to be insured by HUD or the VA, after the funding of the Purchased Mortgage Loan
and payment of any premium thereafter, Seller has provided access to Buyer to the lender number, password or any other information that may be required by the applicable agency or otherwise for Buyer to verify that the related MIP payments have been
made. 
 (sss) Patriot Act. The Seller has complied with all applicable anti money laundering laws and regulations,
including, without limitation, the Patriot Act. No Mortgage Loan is subject to nullification pursuant to Executive Order 13224 (the “Executive Order”) or the regulations promulgated by OFAC (the “OFAC Regulations”)
or in violation of the Executive Order or the OFAC Regulations, and no Mortgagor is subject to the provisions of such Executive Order or the OFAC Regulations nor listed as a “blocked person” for purposes of the OFAC Regulations. 

  
 Schedule 1-13 

 (ttt) MERS Designated Mortgage Loans. With respect to each MERS Designated Mortgage Loans,
a mortgage identification number has been assigned by MERS and such mortgage identification number is accurately provided on the Mortgage Loan Schedule. The related Assignment of Mortgage to MERS has been duly and properly recorded. With respect to
each MERS Mortgage Loan, no Mortgagor has received any notice of liens or legal actions with respect to such Mortgage Loan and no such notices have been electronically posted by MERS. 

(uuu) MOM Mortgage Loans. With respect to each MOM Loan, the Seller has not received any notice of liens or legal actions with respect
to such Mortgage Loan and no such notices have been electronically posted by MERS. 
 (vvv) Fully Funded. Such Purchased Mortgage Loan
is a “closed” loan. Each Purchased Mortgage Loan is fully funded. 
 (www) Authorized Funds Recipient. Any related
settlement or closing agent has fully disbursed all proceeds received from the Buyer in accordance with the related HUD-1 form. 
 (xxx)
Qualified Mortgage. Notwithstanding anything to the contrary set forth in the Agreement, on and after January 10, 2014 (or such later date as the relevant regulations may go into effect) (i) before the consummation of each mortgage
loan, the originator made a reasonable and good faith determination that the borrower has a reasonable ability to repay the loan according to its terms, and that at a minimum, the originator underwrote the loan in accordance with 12 CFR 1026.43(c)
as may be amended from time to time; and (ii) such mortgage loan is a “Qualified Mortgage” as defined in 12 CFR 1026.43(e) as may be amended from time to time. 

(yyy) No Interest Only Loans. Notwithstanding anything to the contrary set forth in the Agreement, on and after January 10, 2014,
no Purchased Mortgage Loan is an Interest Only Loan. 

  
 Schedule 1-14 

 EXHIBIT A 

OFFICER’S COMPLIANCE CERTIFICATE 
 I,
                    , do hereby certify that I am the [duly elected, qualified and authorized] [CFO/TREASURER/FINANCIAL OFFICER] of [Name]
(“Seller”). This Certificate is delivered to you in connection with Section 16(b) of the Master Repurchase Agreement and Securities Contract and Addendum, dated as of
            , 201    , each such document being among Seller, Guarantor and Wells Fargo Bank, N.A. (“Buyer”) (together, as amended from time to time, the
“Agreement”). I hereby certify that, as of the date of the financial statements attached hereto and as of the date hereof, Seller is and has been in compliance with all the terms of the Agreement except as otherwise noted in a schedule
attached hereto1 and, without limiting the generality of the foregoing, I certify that:  

Litigation, Investigations, Proceedings. Seller has promptly, and in any event within ten (10) Business Days after service of
process on any of the following, given to Buyer notice of all litigation, actions, suits, arbitrations, investigations (including, without limitation, any of the foregoing which are threatened or pending) or other legal or arbitrable proceedings
affecting Seller or any of its Subsidiaries or affecting any of the Property of any of them before any Governmental Authority that (i) questions or challenges the validity or enforceability of any of the Program Agreements or any action to be
taken in connection with the transactions contemplated hereby, (ii) makes a claim individually in an amount greater than the Individual Claim Threshold or in an aggregate amount greater than the Aggregate Claim Threshold, or (iii) which,
individually or in the aggregate, if adversely determined, could be reasonably likely to have a Material Adverse Effect. Seller will promptly provide notice of any judgment, which with the passage of time, could cause an Event of Default hereunder.

 Financial Covenants. Seller has complied with all the Financial Covenants. 

Insurance. Seller has maintained, for Seller and its Subsidiaries, with responsible companies, at its own expense, the Required
Insurance Policy, in each case, in a form acceptable to Buyer, with broad coverage on all officers, employees or other persons (if applicable, including, without limitation, employees or other person of the Manager or the General Partner who act on
behalf of Seller in handling funds, money, documents or papers relating to the Purchased Assets) (“Seller Employees”) acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the
Purchased Assets, with respect to any claims made in connection with all or any portion of the Purchased Assets. Any such Required Insurance Policy shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud,
errors and omissions and negligent acts of such Seller Employees, and such policies also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Purchased Mortgage Loan without having obtained payment
in full of the indebtedness secured thereby. The minimum coverage under any such Required Insurance Policy shall be at least equal to the Required Insurance Amount as set forth on the Addendum. Seller has named Buyer as a loss payee under any
applicable Fidelity Insurance Policy and as a direct loss payee with right of action under any applicable Errors and Omissions Insurance Policy or Professional Liability Insurance Policy. 

 

	1 	Buyer’s acceptance of this schedule is not, and shall not be construed as, a waiver by Buyer of any of the items identified on the schedule, including items that may be, or with the passage of time may become, an
Event of Default. Buyer, in its sole and absolute discretion, will elect whether to provide any such waiver and will do so by a separate writing. 

  
 Exhibit A-1 

 Financial Statements. The financial statements and schedules attached hereto fairly
present in all material respects the financial condition and results of operations of Seller and Guarantor, if applicable, in accordance with GAAP, consistently applied, as of the date(s) thereof. 

Documentation. Seller has performed the documentation procedures required by its operational guidelines with respect to endorsements
and assignments, including the recordation of assignments, or has verified that such documentation procedures have been performed by a prior holder of such Purchased Mortgage Loan. 

Compliance. Seller has observed or performed in all material respects all of its covenants and other agreements, and satisfied every
condition, contained in the Agreement and the other Program Agreements to be observed, performed and satisfied by it; or if a covenant or other agreement or condition has not been complied with, Seller shall describe such lack of compliance and
provide the date of any related waiver thereof. 
 Regulatory Action. Seller is not currently under investigation and has no
knowledge that any investigation by any federal, state or local government agency is threatened. Seller has not been the subject of any government investigation which has resulted in the voluntary or involuntary suspension of a license, a cease and
desist order, or such other action as could adversely impact Seller’s business. If so, Seller shall describe the situation in reasonable detail and describe the action that Seller has taken or proposes to take in connection therewith. 

No Default. No Default or Event of Default has occurred or is continuing. [If any Default or Event of Default has occurred and is
continuing, Seller shall describe the same in reasonable detail and describe the action Seller has taken or proposes to take with respect thereto, and if such Default or Event of Default has been expressly waived by Buyer in writing, Seller shall
describe the Default or Event of Default and provide the date of the related waiver.]  
 Indebtedness. All Indebtedness (other
than Indebtedness evidenced by the Agreement) of Seller existing on the date hereof is listed on the schedules attached hereto. 

Hedging. An accurate and true summary of all Interest Rate Protection Agreements entered into or maintained by Seller during the most
recent calendar month end and all preceding months has been provided to Buyer (unless Buyer gives notice to Seller that such summary is not required); and any documentation related to such Interest Rate Protection Agreements as required by the
Manual and such other documents requested by Buyer has been provided to Buyer. 
 Distributions. Seller has not paid any dividends
with respect to any capital stock or other equity interests in such entity, whether now or hereafter outstanding, or made any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of
Seller, if an Event of Default has occurred and is continuing, or the payment of a distribution would cause, or would be likely to cause, a violation of a Financial Covenant herein. 

  
 Exhibit A-2 

 Notifications. Seller has notified Buyer of any repurchase requests or demands,
indemnification requests, suspension notices or termination notices it received, or is reasonably likely to receive, from its secondary market investors, including any Takeout Investors. 

Other Notices. Seller has notified Buyer of any other event, circumstance or condition that has resulted, or has a possibility of
resulting, in a Material Adverse Effect with respect to Seller or Servicer, including, without limitation, any claims of predatory lending or any early payment default, buy-back, repurchase or similar requests. 

  
 Exhibit A-3 

 IN WITNESS WHEREOF, I have set my hand this
            day of             ,             . 

 

			
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 Exhibit A-4 

 EXHIBIT B 

CERTIFICATE OF AN OFFICER OF THE SELLER 

The undersigned, [Secretary] of [SELLER], a [STATE] [limited liability company]/[corporation]/[limited partnership] (the “Seller”),
hereby certifies as follows: 
 1. Attached here as Exhibit A is a copy of the Certificate of [Incorporation]/ [Formation]/[Limited
Partnership] of the Seller, as certified by the Secretary of State of the State of [STATE]. 
 2. Neither any amendment to the Certificate of
[Incorporation]/[Formation]/[Limited Partnership] of the Seller nor any other charter document with respect to the Seller has been filed, recorded or executed since [            ,
            , 201    ], and no authorization for the filing, recording or execution of any such amendment or other charter document is outstanding. 

3. Attached hereto as Exhibit B is a true, correct and complete copy of the [Bylaws]/[Operating Agreement]/[Partnership Agreement] of
the Seller as in effect as of the date hereof and at all times since [            ,             , 201    ].

 4. Attached hereto as Exhibit C is a true, correct and complete copy of resolutions adopted by the [Board of Directors]/[Board of
Managers]/[General Partner] of the Seller by unanimous written consent on [            ,             ,
201    ] (the “Resolutions”). The Resolutions have not been further amended, modified or rescinded and are in full force and effect in the form adopted, and they are the only resolutions adopted by the [Board of
Directors]/[Board of Managers]/[General Partner] of the Seller relating to the execution and delivery of, and performance of the transactions contemplated by the Master Repurchase Agreement and Securities Contract and Addendum (the
“Repurchase Agreement”), each dated as of [            ,             , 201    ] and between
the Seller, [Guarantor] and Wells Fargo Bank, N.A. (the “Buyer”). 
 5. Attached here as Exhibit D is a copy of a
Certificate of Good Standing of Seller, as certified by the Secretary of State of the State of [STATE]. 
 6. The Repurchase Agreement is
substantially in the form approved by the Resolutions or pursuant to authority duly granted by the Resolutions. 
 7. The undersigned, as
officers of the Seller or as attorney-in-fact, are authorized to and have signed manually the Repurchase Agreement or any other document delivered in connection with the transactions contemplated thereby, were duly elected or appointed, were
qualified and acting as such officer or attorney-in-fact at the respective times of the signing and delivery thereof, and were duly authorized to sign such document on behalf of the Seller and the signature of each such person appearing on any such
documents is the genuine signature of each such person. 

  
 Exhibit B-1 

					
	 Name
	  	 Title
	 	 Signature

			
	      
	  	  
	 	  

			
	      
	  	  
	 	  

			
	      
	  	  
	 	  

 IN WITNESS WHEREOF, the undersigned has hereunto executed this Certificate as of the
            day of             , 201  . 
  

			
	[Seller], as Seller
		
	By:	 	 
		 	Name:
		 	Title:[Secretary]

  
 Exhibit B-2 

 EXHIBIT B 

CERTIFICATE OF AN OFFICER OF THE SELLER (CONTINUED)  

Exhibit C to Officer’s Certificate of the Seller  

WRITTEN CONSENT IN LIEU OF A MEETING 

OF THE BOARD OF [DIRECTORS][MANAGERS] OF [SELLER] 

The undersigned, being all of the members of the [Board of Directors]/[Board of Managers]/[General Partner] of [Seller], a [State]
[corporation]/[limited liability company]/[limited partnership] (the “Seller”), do hereby consent to the adoption of the following resolutions taking or authorizing the actions specified therein:  

WHEREAS, it is in the best interests of the Seller to transfer from time to time to Wells Fargo Bank, N.A. (the “Buyer”)
certain mortgage loans in exchange for the transfer of funds by Buyer to Seller, with a simultaneous agreement by Buyer to transfer to Seller such mortgage loans at a date certain or on demand, in exchange for the transfer of funds by Seller
pursuant to the terms of the Repurchase Agreement (as defined below). 
 NOW, THEREFORE, be it 

RESOLVED, that the execution, delivery and performance by the Seller of the Master Repurchase Agreement and Securities Contract and
Addendum (the “Repurchase Agreement”) to be entered into by the Seller, [Guarantor] and Buyer, substantially in the form of the drafts each dated
[                    , 201  ], and attached hereto as Exhibit A, are hereby authorized and approved and that the [Chairman, Chief
Executive Officer, the Secretary or the Treasurer] (collectively, the “Authorized Officers”) of the Seller be and each of them hereby is authorized and directed to execute and deliver the Repurchase Agreement to the Buyer with such
changes as the officer executing the same shall approve, his execution and delivery thereof to be conclusive evidence of such approval;  

RESOLVED, that the execution, delivery and performance by the Seller of the Electronic Tracking Agreement (the “Tracking
Agreement”) to be entered into by the Seller, the Buyer, [[Servicer] (the “Servicer”)], Mortgage Electronic Registration Systems, Inc. and MERSCORP Holdings, Inc. substantially in the form of the draft dated
[                    , 201  ], attached hereto as Exhibit B, are hereby authorized and approved and that the Authorized Officers of
the Seller be and each of them hereby is authorized and directed to execute and deliver the Tracking Agreement to the Buyer, [the Servicer,] Mortgage Electronic Registration Systems, Inc. and MERSCORP Holdings, Inc. with such changes as the officer
executing the same shall approve, his execution and delivery thereof to be conclusive evidence of such approval;  
 RESOLVED,
that the execution and delivery by the Seller of one or more copies of a Power of Attorney (“Power of Attorney”) authorizing certain personnel of Buyer and its affiliates to take certain actions, as set forth substantially in the
form attached to the Repurchase Agreement and irrevocable except with the consent of Buyer, are hereby authorized and approved and that the Authorized Officers of the Seller be and each of them hereby is authorized

  
 Exhibit B-3 

 
and directed to execute and deliver the Power of Attorney to the Buyer immediately upon any request of Buyer for so long as any obligations of the Seller under the Repurchase Agreement remain
unsatisfied, with such changes as the officer executing the same shall approve, his execution and delivery thereof to be conclusive evidence of such approval, and the termination of this resolution requiring the consent of the Buyer;  

RESOLVED, that the Authorized Officers hereby are, and each hereby is, authorized to execute and deliver all such aforementioned
agreements on behalf of the Seller and to do or cause to be done, in the name and on behalf of the Seller, any and all such acts and things, and to execute, deliver and file in the name and on behalf of the Seller, any and all such agreements,
applications, certificates, instructions, receipts and other documents and instruments, as such Authorized Officer may deem necessary, advisable or appropriate in order to carry out the purposes of the foregoing resolutions;  

RESOLVED, that all actions taken by any of the Authorized Officers before the date of this consent for the purpose of effecting any of
the actions authorized by this consent be, and they hereby are, approved and ratified in all respects;  
 RESOLVED, that the
proper officers, agents and counsel of the Seller are, and each of such officers, agents and counsel is, hereby authorized for and in the name and on behalf of the Seller to take all such further actions and to execute and deliver all such other
agreements, instruments and documents, and to make all governmental filings, in the name and on behalf of the Seller and such officers are authorized to pay such fees, taxes and expenses, as advisable in order to fully carry out the intent and
accomplish the purposes of the resolutions heretofore adopted hereby. 
 Dated as of:
                 , 20      
  

					
	Name	  	Title	 	Signature
			
	      
	  	  
	 	  

			
	      
	  	  
	 	  

			
	      
	  	  
	 	  

  
 Exhibit B-4 

 EXHIBIT C 

FORM OF POWER OF ATTORNEY 
 Wells Fargo
Bank, N.A. 
 c/o Wells Fargo Securities 
 Mortgage Banker
Finance Group 
 2500 Northwinds Parkway, Suite 200 

Alpharetta, Georgia 30009 
 Attention: Ken Logan 

Telephone: (678) 867-1080 
  

	 	Re:	Amended and Restated Master Repurchase Agreement and Securities Contract and Addendum, each dated as of October 22, 2015 (as amended from time to time, the “Agreement”) and between loanDepot.com, LLC (the
“Seller”) and Wells Fargo Bank, N.A. (the “Buyer”) 

 Ladies and Gentlemen: 

KNOW ALL MEN BY THESE PRESENTS, that Seller hereby irrevocably constitutes and appoints the Buyer and any officer or director of the Buyer or
Wells Fargo Securities, with full power of substitution, as its true and lawful attorney-in-fact with full power and authority, in the place and stead of Seller and in the name of Seller or in its own name, from time to time in the Buyer’s
discretion, to: (1) execute, witness, attest and deliver, on behalf of the Seller, (a) all mortgage documents reasonably necessary or appropriate to properly effect the transfer of the Mortgage Loans from the Seller to Buyer, (b) all
release or satisfaction documents reasonably necessary or appropriate to properly effect the release or satisfaction of mortgages, deeds of trust or other similar security instruments with respect to the Mortgage Loans, and (c) all documents
reasonably necessary to correct or otherwise remedy any errors or deficiencies contained in any documents contemplated by part (a) above; (2) take any action to carry out the transfer of servicing with respect to the Mortgage Loans from
Seller to a successor servicer appointed by the Buyer in its discretion, in the name of Seller or its own name, or otherwise, and prepare and send or cause to be sent “good-bye” letters to all mortgagors under the Mortgage Loans,
transferring the servicing of the Mortgage Loans to a successor servicer appointed by the Buyer in its discretion, and (3) preserve any rights of the Buyer under the Agreement and any other agreement related to the transactions contemplated
thereby, and to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to accomplish such reservation of rights. 

Seller hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof. This power of attorney is a power
coupled with an interest and shall be irrevocable. 
 Any capitalized term used but not defined herein shall have the meaning assigned to
such term in the Agreement. 

  
 Exhibit C-1 

 TO INDUCE ANY THIRD PARTY TO ACT HEREUNDER, SELLER HEREBY AGREES THAT ANY THIRD PARTY RECEIVING A
DULY EXECUTED COPY OR FACSIMILE OF THIS INSTRUMENT MAY ACT HEREUNDER, AND THAT REVOCATION OR TERMINATION HEREOF SHALL BE INEFFECTIVE AS TO SUCH THIRD PARTY UNLESS AND UNTIL ACTUAL NOTICE OR KNOWLEDGE OF SUCH REVOCATION OR TERMINATION SHALL HAVE BEEN
RECEIVED BY SUCH THIRD PARTY, AND SELLER ON ITS OWN BEHALF AND ON BEHALF OF SELLER’S ASSIGNS, HEREBY AGREES TO INDEMNIFY AND HOLD HARMLESS ANY SUCH THIRD PARTY FROM AND AGAINST ANY AND ALL CLAIMS THAT MAY ARISE AGAINST SUCH THIRD PARTY BY
REASON OF SUCH THIRD PARTY HAVING RELIED ON THE PROVISIONS OF THIS INSTRUMENT. 
 IN WITNESS WHEREOF Seller has caused this Power of
Attorney to be executed and Seller’s seal to be affixed this day of [            ], 20[    ]. 

 

			
	LOANDEPOT.COM, LLC, as Seller
		
	By:	 	 
		 	Name:
		 	Title:

							
				
	STATE OF[	  	]	  	)	  	
				
		  		  	)	  	ss.:
				
	COUNTY OF [	  	]	  	)	  	

 On the             day of
[    ] 20[    ] before me, a Notary Public in and for said State, personally appeared
                                         
                   , known to me to be
                                    [     
                                         
  ]                     of
[                                        ], the
institution that executed the within instrument and also known to me to be the person who executed it on behalf of said corporation, and acknowledged to me that such corporation executed the within instrument. 

IN WITNESS WHEREOF, I have hereunto set my hand affixed my office seal the day and year in this certificate first above written. 

	
	
	   

	Notary Public

			
		
	My Commission expires	 	 
		 	

  
 Exhibit C-2 

 EXHIBIT D 

FORM OF GUARANTY 
 [TO BE
ATTACHED] 
 Exhibit D-1 

 EXHIBIT E 

CERTIFICATE OF INCUMBENCY OF OFFICERS AND OF 

AUTHORIZED PERSONS OF SELLER 

I,             , Secretary of [Seller], a [State] [corporation]/[limited liability
company]/[limited partnership] (hereinafter called the “Company”), do hereby certify that the below-named individuals have been duly elected and qualified as, and are this day, officers of the Company holding the respective offices set
forth opposite their names and the signatures below set opposite their names are their genuine signatures: 
  

					
	 Name
	 	 Title
	  	 Signature

			
	[Name]	 	[Title]	  	  

			
	[Name]	 	[Title]	  	  

			
	[Name]	 	[Title]	  	  

 I DO FURTHER CERTIFY that as [            ] of the
Company, I am hereby authorized and from time to time directed to execute a certificate of incumbency and obtain specimen signatures of persons holding the offices referred to in the Corporate Resolutions, and of the officers or persons named in the
Corporate Resolutions, and to file such certified copy, and such certificate or certificates, and specimen signatures. 
 IN WITNESS
WHEREOF, I have hereunto set my hand and affixed the seal of the Company this                      day of
                    , 20[    ]. 

	
	
	   

	Secretary

  
 Exhibit E-1 

 EXHIBIT F 

WELLS FARGO BANK, N.A. 
 c/o
Wells Fargo Securities, LLC - Mortgage Banker Finance Group 
 2500 Northwinds Parkway, Suite 200 

Alpharetta, Georgia 30009 

[Date] 
 [[Subs][S]ervicer], as
[Subs][S]ervicer 
 [street address] 
 [City, State
ZIP] 
 Attention: [insert appropriate contact] 

Amended and Restated Master Repurchase Agreement and Securities Contract and related Addendum, each dated as of October 22, 2015 (as the
same may be amended, restated, supplemented or otherwise modified from time to time, collectively, the “Repurchase Agreement”), between loanDepot.com, LLC (the “Seller”), Wells Fargo Bank, N.A. (the
“Buyer”) 
 Ladies and Gentlemen: 

[[Subs][S]ervicer] (the “[Subs][S]ervicer”) [sub]services certain mortgage loans for Seller pursuant to a
[[Subs][S]ervicing Agreement] between [Subs][S]ervicer and Seller dated as of [Date] (the “[Subs][S]ervicing Agreement”). Pursuant to the Repurchase Agreement, the [Subs][S]ervicer is hereby notified that Seller has sold and
will continue to sell to Buyer certain mortgage loans on a servicing-released basis (including, without limitation, the servicing rights) which are [sub]serviced by [Subs][S]ervicer. In recognition thereof, Seller, Buyer and [Subs][S]ervicer hereby
agree as follows: 
 A. Upon receipt by [Subs][S]ervicer of a written notice that Buyer has declared an Event of Default pursuant to, and as defined in, its
Repurchase Agreement with Seller (the “Notice”) wherein Buyer shall identify the mortgage loans which were sold to Buyer under the Repurchase Agreement (the “Affected Loans”), [Subs][S]ervicer and Buyer, as
applicable, acknowledge and agree to the following modifications to the [Subs][S]ervicing Agreement: 
 1. [Subs][S]ervicer
shall continue to [sub]service the Affected Loans in accordance with the [Subs][S]ervicing Agreement until such time as Buyer delivers written notice of its desire to terminate [Subs][S]ervicer’s services as set forth below in Clause
A.6. While [Subs][S]ervicer continues to [sub]service the Affected Loans pursuant to the [Subs][S]ervicing Agreement, it shall segregate all amounts collected on account of such Affected Loans, hold them in trust for the sole and exclusive
benefit of Buyer, and remit such collections in accordance with Buyer’s written instructions; 

  
 Exhibit F-1 

 2. [Subs][S]ervicer shall comply with the requests of Buyer with respect to the
Affected Loans, and shall deliver to Buyer any information provided by [Subs][S]ervicer to Seller under the [Subs][S]ervicing Agreement as well as any other or further information, to the extent that providing such information would not violate any
confidentiality agreement, privacy law or otherwise, with respect to the Affected Loans reasonably requested by Buyer. To the extent that Buyer either: 

a. requests any information which is not already provided by [Subs][S]ervicer to Seller under the [Subs][S]ervicing Agreement
the preparation and delivery of which causes [Subs][S]ervicer to incur additional costs or expenses, or 
 b. makes a request
of [Subs][S]ervicer with respect to the Affected Loans that is outside the scope of the [Subs][S]ervicing Agreement and which causes [Subs][S]ervicer to incur additional costs or expenses, 

[Subs][S]ervicer shall prepare a statement of work related thereto, including price quotations for such additional costs and expenses, and
obtain Buyer’s written approval of such statement of work before proceeding with such additional work; 
 3. Buyer shall
reimburse [Subs][S]ervicer for all costs and expenses incurred by the [Subs][S]ervicer to [sub]service the Affected Loans after receipt of the Notice. Such costs and expenses shall be charged in accordance with, and as set forth in, the
[Subs][S]ervicing Agreement at the time the Notice is provided to the [Subs][S]ervicer. It shall be Seller’s responsibility to satisfactorily inform Buyer of the terms and conditions of the [Subs][S]ervicing Agreement, inclusive of the costs,
fees and expense provisions thereunder; 
 4. Prior to the date on which Buyer delivers the Notice to [Subs][S]ervicer,
Seller agrees to provide Buyer with notice of any amendments, modifications or waivers to the [Subs][S]ervicing Agreement, including proposed changes to the schedule of costs and expenses thereunder; 

5. On and after the date on which Buyer delivers the Notice to [Subs][S]ervicer, no amendment to the [Subs][S]ervicing
Agreement affecting the Affected Loans, including amendments to provisions pertaining to costs, fees and expenses, shall be effective as to the Affected Loans unless and until Buyer provides its prior written consent thereto; 

6. [Subs][S]ervicer acknowledges that Buyer shall not have to comply with the notice requirements set forth in the
[Subs][S]ervicing Agreement with respect to the transfer of the servicing of any Affected Loans. Instead, [Subs][S]ervicer agrees to cooperate with any servicing transfer requests received from Buyer as soon as commercially practicable, not to
exceed sixty (60) calendar days following receipt of written notice from Buyer stating that it wishes to transfer the servicing of the Affected Loans to a substitute [sub]servicer and identifying such [sub]servicer. [Subs][S]ervicer will comply
with any reasonable [sub]servicing transfer instructions provided by Buyer 

  
 Exhibit F-2 

 
to [Subs][S]ervicer at Buyer’s sole cost and expense. [Subs][S]ervicer further agrees that, except as permitted in Clause A.9. below, it will not invoke any voluntary termination
provisions pursuant to the [Subs][S]ervicing Agreement the effect of which would allow [Subs][S]ervicer to terminate the [Subs][S]ervicing Agreement with respect to the Affected Loans on or before the sixtieth (60th) day following the date of
the Notice; 
 7. [Subs][S]ervicer acknowledges and agrees that Buyer has no obligations for any actions or omissions
(including, without limitation, any related costs, expenses and indemnity obligations related to such acts or omissions) with respect to the [sub]servicing of the Affected Loans prior to [Subs][S]ervicer’s receipt of the Notice.
[Subs][S]ervicer further agrees that Buyer has no obligations for any termination fees, penalties or similar fees or charges in connection with the transfer of the [sub]servicing of the Affected Loans except those fees and charges incurred by
[Subs][S]ervicer as a result of any transfer of servicing requested by Buyer in accordance with Clause A.6 above, but only to the extent of the fees and charges applicable to servicing transfers under the [Subs][S]ervicing Agreement, as
contemplated in Clause A.3. above; 
 8. [Subs][S]ervicer agrees it will not exercise any rights of set-off under the
[Subs][S]ervicing Agreement for amounts due to it for Affected Loans arising prior to its receipt of the Notice against amounts received on Affected Loans after receipt of the Notice. Seller agrees it will remain responsible and liable for all
amounts due and unpaid on Affected Loans arising prior to [Subs][S]ervicer’s receipt of the Notice; 
 9. In the event
that Buyer elects, in its sole discretion, to assign its rights under the [Subs][S]ervicing Agreement in connection with Buyer’s exercise of remedies and not to transfer the [sub]servicing of the Affected Loans to a successor [sub]servicer,
Buyer agrees that, notwithstanding the provisions of Clause A.6., [Subs][S]ervicer shall have the right to voluntarily terminate the [Subs][S]ervicing Agreement in accordance with its terms; and 

10. [Subs][S]ervicer acknowledges that Seller has provided Buyer with a power of attorney. [Subs][S]ervicer agrees to accept
and not contest that power of attorney with respect to any actions Buyer may take for, and in the stead of, Seller with respect to any Affected Loans. The power of attorney referenced in this Clause A.10. shall only provide Buyer with the
power to act for, and in the stead of, Seller under certain circumstances as provided in Schedule I, which is a copy of the form of Power of Attorney that Seller has executed in favor of Buyer. The parties hereto acknowledge and agree that
this provision does not, and shall not be interpreted to, require [Subs][S]ervicer to act on behalf of, or take any action at the direction of, Buyer or Seller in reliance thereon. 

B. [Subs][S]ervicer acknowledges and agrees that Buyer owns the Affected Loans and the servicing rights to the Affected Loans, as herein set forth.
[Subs][S]ervicer acknowledges and agrees that it has no servicing rights, subservicing rights, or any other rights in or to the Affected Loans except for the rights granted to it under the [Subs][S]ervicing Agreement, as modified or added to by this
letter agreement. 

  
 Exhibit F-3 

 C. Notwithstanding any contrary information which may be delivered to [Subs][S]ervicer by Seller,
[Subs][S]ervicer may conclusively rely on any information pertaining to the Repurchase Agreement or the Notice delivered to it by Buyer. Seller shall fully indemnify and hold [Subs][S]ervicer harmless for any and all claims asserted against it for
any actions taken in good faith by [Subs][S]ervicer in connection with the delivery of such information or Notice. Buyer and Seller agree that [Subs][S]ervicer shall not be included as a party to any legal proceeding or action regarding whether the
Notice given to [Subs][S]ervicer by Buyer was appropriate and/or valid under the terms of the Repurchase Agreement. 
 D. THIS LETTER AGREEMENT AND ANY
CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS LETTER AGREEMENT, THE RELATIONSHIP OF THE PARTIES TO THIS LETTER AGREEMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES TO THIS LETTER AGREEMENT AND
THE [SUB]SERVICING AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE SPECIFIED IN THE [SUB]SERVICING AGREEMENT, WITHOUT REGARD TO THE CHOICE OF LAW RULES THEREOF. 

THE PARTIES HERETO AGREE THAT IF NO STATE’S LAW IS SPECIFIED AS THE CONTROLLING LAW FOR THE [SUB]SERVICING AGREEMENT, THEN THE INTERNAL LAWS AND DECISIONS
OF THE STATE OF NEW YORK SHALL APPLY TO THIS LETTER AGREEMENT AND THE [SUB]SERVICING AGREEMENT AND, IN SUCH CASE, THE PARTIES HERETO INTEND THAT THE PROVISIONS OF SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS LETTER
AGREEMENT AND THE [SUB]SERVICING AGREEMENT. 
 E. If any provision of this letter agreement is held illegal or unenforceable in a judicial proceeding under
any jurisdiction, such provision shall be deemed severed and shall be inoperative for purposes of that jurisdiction only. Provided that the fundamental terms and conditions of this letter agreement remain legal and enforceable, the remainder of this
letter agreement shall remain operative, in full force and effect, and binding upon the parties in any and all other jurisdictions. 
 F. This letter
agreement cannot be modified except by a duly executed writing that has been signed by authorized representatives of each party hereto. 
 G. The
indemnifications, representations and warranties set forth herein shall survive the expiration or termination of this letter agreement. This letter agreement shall inure to the benefit of, and be binding upon, Seller, Buyer, [Subs][S]ervicer, and
the successors and assigns of each. H. This letter agreement may be executed in counterparts, each of which shall be deemed an original that, when taken together, shall constitute a single instrument. Signatures transmitted by facsimile or other
electronic means shall be deemed to be the equivalent of an original signature. A copy of this executed letter agreement shall have the same force and effect as the original. 

  
 Exhibit F-4 

 Please acknowledge receipt of this letter agreement by signing in the signature block below and
forwarding an executed copy to Buyer promptly upon receipt. Any notices to Buyer should be delivered to the following addresses: Wells Fargo Bank, N.A., c/o Wells Fargo Securities – Mortgage Banker Finance Group, 2500 Northwinds Parkway, Suite
200, Alpharetta, Georgia 30009, Attention: Ken Logan, with a copy to Buyer’s counsel at Wells Fargo Bank, N.A., 375 Park Avenue, New York, New York 10152, Attention: Mary Curtis Delecroix or to any other place specified in a notice of change of
address hereafter received by [Subs][S]ervicer and/or Seller. 
 [signatures appear on the following page] 

  
 Exhibit F-5 

 
			
	Very truly yours,
	
	BUYER:
	
	WELLS FARGO BANK, N.A.
		
	By:	 	  

		 	Name: Kenneth D. Logan
		 	Title:   Managing Director

  

			
	 ACKNOWLEDGED:
  

[SUB]SERVICER:
  

[[SUB]SERVICER]

		
	By:	 	  

		 	Name:                                     
                           
		 	Title:                                     
                             
	
	SELLER:
	
	LOANDEPOT.COM, LLC
		
	By:	 	  

		 	Name:                                     
                           
		 	Title:                                     
                             

  
 Exhibit F-6 

 SCHEDULE I 

FORM OF POWER OF ATTORNEY 
 Wells
Fargo Bank, N.A. 
 c/o Wells Fargo Securities 
 Mortgage Banker
Finance Group 
 2500 Northwinds Parkway 
 Suite 200 

Alpharetta, Georgia 30009 
 Attention: Ken Logan 

Telephone: (678) 867-1080 
  

	 	Re:	Amended and Restated Master Repurchase Agreement and Securities Contract and Addendum, each dated as of October 22, 2015 (as amended from time to time, the “Agreement”) and between loanDepot.com. LLC
(the “Seller”) and Wells Fargo Bank, N.A. (the “Buyer”) 

 Ladies and Gentlemen: 

KNOW ALL MEN BY THESE PRESENTS, that Seller hereby irrevocably constitutes and appoints the Buyer and any officer or director of the Buyer or
Wells Fargo Securities Mortgage Banker Finance Group, with full power of substitution, as its true and lawful attorney-in-fact with full power and authority, in the place and stead of Seller and in the name of Seller or in its own name, from time to
time in the Buyer’s discretion, solely in connection with the Agreement, to: (1) execute, witness, attest and deliver, on behalf of the Seller, (a) all mortgage documents reasonably necessary or appropriate to properly effect the
transfer of the Mortgage Loans from the Seller to Buyer, (b) all release or satisfaction documents reasonably necessary or appropriate to properly effect the release or satisfaction of mortgages, deeds of trust or other similar security
instruments with respect to the Mortgage Loans, and (c) all documents reasonably necessary to correct or otherwise remedy any errors or deficiencies contained in any documents contemplated by part (a) above; (2) take any action
to carry out the transfer of servicing with respect to the Mortgage Loans from Seller to a successor servicer appointed by the Buyer in its sole discretion, in the name of Seller or its own name, or otherwise, and prepare and send or cause to be
sent “good-bye” letters to all mortgagors under the Mortgage Loans, transferring the servicing of the Mortgage Loans to a successor servicer appointed by the Buyer in its sole discretion, and (3) preserve any rights of the Buyer under
the Agreement and any other agreement related to the transactions contemplated thereby, and to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to accomplish such
reservation of rights. 
 Seller hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof. This power
of attorney is a power coupled with an interest and shall be irrevocable. 
 Any capitalized term used but not defined herein shall have the
meaning assigned to such term in the Agreement. 

  
 Exhibit F-7 

 TO INDUCE ANY THIRD PARTY TO ACT HEREUNDER, SELLER HEREBY AGREES THAT ANY THIRD PARTY RECEIVING A
DULY EXECUTED COPY OR FACSIMILE OF THIS INSTRUMENT MAY ACT HEREUNDER, AND THAT REVOCATION OR TERMINATION HEREOF SHALL BE INEFFECTIVE AS TO SUCH THIRD PARTY UNLESS AND UNTIL ACTUAL NOTICE OR KNOWLEDGE OF SUCH REVOCATION OR TERMINATION SHALL HAVE BEEN
RECEIVED BY SUCH THIRD PARTY, AND SELLER ON ITS OWN BEHALF AND ON BEHALF OF SELLER’S ASSIGNS, HEREBY AGREES TO INDEMNIFY AND HOLD HARMLESS ANY SUCH THIRD PARTY FROM AND AGAINST ANY AND ALL CLAIMS THAT MAY ARISE AGAINST SUCH THIRD PARTY BY
REASON OF SUCH THIRD PARTY HAVING RELIED ON THE PROVISIONS OF THIS INSTRUMENT. 

  
 Exhibit F-8 

 IN WITNESS WHEREOF Seller has caused this Power of Attorney to be executed and Seller’s seal
to be affixed this            day of
                                         
               , 20            . 

 

			
	
	LOANDEPOT.COM, LLC, as Seller
		
	By:	 	  

		 	Name:                                     
                           
		 	Title:                                     
                             

 STATE OF
                                     ) 

                  
                                     )
        ss.: 
 COUNTY OF
                                ) 

On the             day of
                    , 20            before me, a Notary Public in and for said State,
personally appeared                                 , known to me to be the
                                    of loanDepot.com, LLC, the
institution that executed the within instrument and also known to me to be the person who executed it on behalf of said [corporation] [limited liability company], and acknowledged to me that such [corporation] [limited liability company] executed
the within instrument. 
 IN WITNESS WHEREOF, I have hereunto set my hand affixed my office seal the day and year in this certificate first
above written. 
  

			
	                                      
                                         
                           	  	
	Notary Public	  	
		
	My Commission
expires:                                       
                           	  	

  
 Exhibit F-9 

 AMENDED AND RESTATED ADDENDUM (THE “ADDENDUM”) DATED AS OF OCTOBER 22, 2015, 

TO WELLS FARGO BANK, N.A. 

AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT AND SECURITIES CONTRACT 

(THE “AGREEMENT”) 

Agreement Date: October 22, 2015             Version: 5.01 

 

			
	Description of Seller:	  	Description of Guarantor:
	Name of Seller: loanDepot.com, LLC	  	Name of Guarantor: Not Applicable
	Tax Identification Number: 26-4599244	  	
	State of Formation: Delaware	  	
	Chief Executive Office:	  	
	26642 Towne Centre Drive	  	
	Foothill Ranch, CA 92610	  	
		
	Phone Number: 888-377-6888	  	
	Fax Number: 949-707-9462	  	
		
	Address for Notices (if different):	  	
	 	  	
	 	  	

 To the extent that there are multiple Sellers or Guarantors, the Agreement (and all relevant verb tenses and similar
terminology) shall be deemed modified to provide for more than one Seller and/or Guarantor, as applicable. 
  

			
	Seller Trade Names:	  	Subsidiaries:
	LD Escrow, Inc.	  	LD Escrow, Inc
	LD	  	Polygon Mortgage, LLC
	LDWholesale	  	MTH Mortgage, LLC
	 loanDepot, LLC
 loanDepot.com

loanDepot.com, LLC
	  	
	Residential Lending	  	
	 Residential Lending loanDepot.com, LLC

imortgage
	  	
	Mortgage Master	  	
	Mortgage Master National	  	
	Mortgage Master Pacific	  	
		
	Servicer:	  	Affiliates:
	loanDepot.com, LLC	  	Not Applicable

  
 Page 1 of 9 

 [***] Confidential portions of this document have been redacted and filed separately with the
Commission. 
  
  

			
	Accounts:	  	
	Seller’s Account for Remittance:	  	Seller’s Clearing Account:
	Bank Name: Wells Fargo Bank, N.A.	  	Bank Name: Wells Fargo Bank, N.A.
	Bank ABA: 121000248	  	Bank ABA: 121000248
	Bank Account Name: loanDepot.com Operating Account	  	Bank Account Name: loanDepot.com, LLC
	Bank Account Number: ##########	  	Bank Account Number: #############
		
	Collection Account:	  	Reserve Account:
	Bank Name: Wells Fargo Bank, N.A.	  	Bank Name: Wells Fargo Bank, N.A.
	Bank ABA: 121000248	  	Bank ABA: 121000248
	Bank Account Name: loanDepot.com, LLC	  	Bank Account Name: loanDepot.com, LLC
	Bank Account Number: #############	  	Bank Account Number: #############
		
	Federal Book Account:	  	
	Wells Fargo Bank, NA	  	
	ABA account # 121-000-248	  	
	For Credit to CDO Clearing A/C ##########	  	
	Further Credit To: WF MBS I	  	
	A/C ########	  	

  

			
	Facility Overview:	  	
	 •  Effective Date: September 15, 2011

 
 •  Restatement Date:
October 22, 2015
  

•  Termination Date: Thirty (30) calendar days following written notice from Buyer to Seller, or
as otherwise provided in the Agreement.
  

•  Buyer may disclose Seller’s name and the Maximum Aggregate Purchase Price for marketing
purposes.
	  	 •  Maximum Aggregate Purchase Price: $300,000,000

 
 •  Reporting Period: 35 days after
the end of each calendar month
  

•  Accounts Receivable Rate: 3%

 
 •  Reserve Account Threshold:
$1,500,000
  
 •  Cross Default
Threshold: $1,000,000
  

•  Custodian: Deutsche Bank National Trust Company or Wells Fargo Bank, N.A.

  

			
	Index Floor, Post Default Rate Margin and LIBOR:	  	
	 •  Index Floor: 0.00%
	  	 •  Post Default Rate Margin: [***]%

 

		  	 •  LIBOR: [***]

  
 Page 2 of 9 

 [***] Confidential portions of this document have been redacted and filed separately with the
Commission. 
  
  

			
	Additional Covenants and Conditions:	  	
	Individual Claim Threshold:	  	Aggregate Claim Threshold:
	 •  $1,000,000 from private individuals or companies
	  	 •  $ 5,000,000 from private individuals or companies

	 •  $1,000,000 from all others, including other warehouse lenders or investors
	  	 •  $ 5,000,000 from all others, including other warehouse lenders or investors

	 •  Judgment Threshold: $1,000,000
	  	

 Conditions: 
  

	•	 	Required Insurance Policy: Fidelity Insurance Policy and either Errors and Omissions Insurance Policy or Professional Liability Insurance Policy. 

 

	•	 	Required Insurance Amount: $5,000,000 minimum Limit of Liability required at all times. 

  

	•	 	Seller shall maintain evidence of Theft of Warehouse Lender’s Money or Collateral, and Mortgagee’s Interest Errors and Omissions insurance with $5,000,000 minimum per occurrence coverage in addition to
endorsements naming Wells Fargo Bank, N.A. as a direct loss-payee to each insurance policy, and if required by policy language, a Specific Warehouse Lender Loss Payee/Right of Action endorsement is also required. 

 

	•	 	Wet-Ink Mortgage Loan Document Receipt Date: 7 Business Days. Upon certification by Custodian/Buyer of “Dry” status, such Mortgage Loan shall have the loan classification as assigned by the Buyer.

  

	•	 	Seller is subject to a credit and/or due diligence review by Buyer on no less than an annual basis, as determined by Buyer at its sole discretion. 

 

	•	 	Seller is approved for hedging subject to Seller complying with their 03/16/2011 Hedging Policy and Buyer’s policy and procedures as set forth in the Manual, as may be amended from time to time. 

 

	•	 	Seller is permitted to submit Wholesale Mortgage Loans and Correspondent Mortgage Loans provided Seller complies with its wholesale policy dated 01/29/14 and correspondent policy dated 04/18/13 at all times and
Buyer’s policy and procedures, as may be amended from time to time. All Wholesale Mortgage Loans must be closed in the name of the Seller. Correspondent Mortgage Loans may be closed in the name of the approved correspondent. Buyer or a third
party acceptable to Buyer may conduct a due diligence review of Seller’s broker and correspondent files, as well as Seller’s Wholesale Mortgage Loans and Correspondent Mortgage Loans periodically at its sole discretion. 

 

	•	 	LD Escrow, Inc. is only approved to administer closings for the Seller and shall not receive and/or control funds for a transaction. All necessary funds for a transaction shall be remitted to an approved Closing Agent
of the Buyer. 

  

	•	 	Seller is permitted to submit Client Credit Underwritten Non-Agency Jumbo loans provided Seller complies with Buyer’s policy and procedures for such loan type, as may be amended from time to time.

  

	•	 	Seller is permitted to submit Specialized Mortgage Loans provided Seller complies with Buyer’s policy and procedures, as may be amended from time to time. A Specialized Mortgage Loan shall mean a HARP Mortgage Loan
or a Non-QM Mortgage Loan, as applicable. With respect to Non-QM Mortgage Loans, final approval is contingent upon Seller providing to Buyer, and Buyer approving information on Seller’s Non-QM Mortgage Loan guidelines. 

 

	•	 	A HARP Mortgage Loan shall mean a mortgage loan which has been refinanced pursuant to the Home Affordable Refinance Program guidelines issued by FHFA and conforms to the most recently published underwriting and
eligibility criteria of Fannie Mae or Freddie Mac, in addition to the Buyer’s published guidelines for such mortgage loans, as determined by Buyer in its sole discretion. 

 

	•	 	A Non-QM Mortgage Loan shall mean a Mortgage Loan that is not a “Qualified Mortgage” as defined by 12 CFR 1026.43(c) and 12 CFR 1026.43(e), which can be an Interest Only Loan, and which has been originated
pursuant to Buyer’s Non-Qualified Mortgage Guidelines (Program Level 3 – NQM Program only), as determined by Buyer in its sole discretion. 

  

	•	 	Seller must maintain at least two (2) Buyer-approved Takeout Investors who purchase Non-QM Mortgage Loans at all times. 

  

	•	 	Minimum FICO score shall be such score as outlined in the Manual, with the exception provided for in the Sublimits section of this Addendum. 

 

	•	 	On the first Business Day of each calendar quarter, Seller shall remit to Buyer an amount equal $[***] in immediately available funds to the Buyer’s account listed in the Addendum. 

 

			
	Financial Covenants:	  	
	 •  Indebtedness to Adjusted Tangible Net Worth Ratio: Maximum of 12:1

 
 •  Adjusted Tangible Net Worth
Threshold: $150,000,000
	  	 •  Liquidity Threshold: $20,000,000 exclusive of the Reserve Account Threshold. For the avoidance of doubt, the Reserve
Account will be considered part of the Purchased Assets as such term is defined in the Agreement.

  
 Page 3 of 9 

 Fee Schedules: 

In addition to all fees and expenses set forth in the Agreement, Seller shall pay all fees and expenses set forth on Schedule 1 and the standard fees and
charges of the Buyer pursuant to the type of commercial banking account(s) selected by the Seller, as modified from time to time by the Buyer in its sole discretion. 
  

			
	Buyer’s Notice Information:	  	
	Wells Fargo Bank, N.A.	  	With copy to Buyer’s internal counsel:
	c/o Wells Fargo Securities Mortgage Banker Finance Group	  	Wells Fargo Bank, N.A.
	2500 Northwinds Parkway, Suite 200	  	375 Park Avenue
	Alpharetta, Georgia 30009	  	New York, New York 10152
	Attention: Kenneth D. Logan	  	Attention: Mary Curtis Delecroix

  
 Page 4 of 9 

 Entire Agreement: 

The Agreement, this Addendum, and all schedules hereto and thereto collectively together shall constitute the entire agreement between the parties hereto
pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written, of the parties hereto, and there are no warranties, representations or other
agreements between the parties in connection with the subject matter hereof except as specifically set forth or incorporated therein or herein. Terms not defined herein shall have the meaning set forth in the Agreement. 

Amendment and Restatement of Prior Addendum: 
 As of the
Effective Date, Buyer and Seller entered into the Original Agreement and the related Addendum (as amended, restated, supplemented or otherwise modified prior to the date hereof, the “Original Addendum”). 

This Addendum amends and restates in its entirety the Original Addendum. All references in the program agreements to the Addendum shall mean this Amended and
Restated Addendum, dated October 22, 2015. 

  
 Page 5 of 9 

 Signatures: 
  

					
	 Party
	  	 Name / Title of Signatory
	  	 Signature

	Wells Fargo Bank, N.A.	  	Kenneth D. Logan	  	/s/ Kenneth D. Logan
		  	Managing Director	  	
			
	loanDepot.com, LLC	  	Jon Frojen	  	/s/ Jon Frojen
		  	Chief Financial Officer	  	
			
	loanDepot.com, LLC, as Servicer for Buyer	  	Jon Frojen	  	/s/ Jon Frojen
		  	Chief Financial Officer	  	

  
 Page 6 of 9 

 [***] Confidential portions of this document have been redacted and filed separately with the
Commission. 
  
 SCHEDULE 1 

Fee Schedule 
  

					
	 Transaction Fee Type
	  	 Fee Amount
	  	 Condition When Applies

	Processing fee	  	[***]	  	 [***]

			
	Wet-Ink Mortgage Loan disbursement fee	  	 [***]
	  	 [***]

			
	Wire fee	  	 [***]
	  	 [***]

			
	Airbill fee	  	 [***]
	  	 [***]

			
	Wet-Ink Mortgage Loan late fee	  	 [***]
	  	 [***]

			
	Non-usage fee	  	[***]	  	 [***]

			
	Same day funding fee	  	 [***]
	  	 [***]

			
	Custodial processing fee	  	 [***]
	  	 [***]

			
	Aged loan margin & fee	  	 [***]
	  	 [***]

			
	Shipped Mortgage Note penalty fee	  	 [***]
	  	 [***]

			
	Security receipt and delivery fee	  	 [***]
	  	 [***]

			
	Minimum income fee	  	 [***]
	  	 [***]

 SCHEDULE 2 

Indebtedness Schedule 
  

					
	 Credit Facilities and Other Indebtedness
	  	Credit Facility Limit & Maximum
Other Indebtedness	 
	 Bank of America Repo
	  	$	300,000,000	  
	 Bank of America Gestation
	  	$	150,000,000	  
	 Citi Bank Repo
	  	$	125,000,000	  
	 UBS Bank Repo
	  	$	550,000,000	  
	 Texas Capital Bank Repo
	  	$	150,000,000	  
	 Everbank Repo
	  	$	150,000,000	  
	 Jefferies Repo
	  	$	225,000,000	  
	 Jefferies Gestation
	  	$	225,000,000	  
	 FNMA ASAP+
	  	$	250,000,000	  
	 Morgan Stanley
	  	$	200,000,000	  
	 BMO
	  	$	100,000,000	  
	 Blue Mountain/Magnetar Unsecured Line
	  	$	80,000,000	  
	 Nexbank Working Capital Line of Credit
	  	$	42,500,000	  

  
 Page 7 of 9 

 [***] Confidential portions of this document have been redacted and filed separately with the
Commission. 
  
 SCHEDULE 3 

Sublimit, Rate and Term Schedule 
  

									
	 Mortgage Loans or Purchased Assets1
	  	 Sublimit or Agency
Security Sublimit2
	  	 Purchase Price
Percentage
	  	
Loan Margin or
Agency Security
Margin
	  	 Maximum
Transaction
Duration

	 Conforming Mortgage Loan – Retail Mortgage Loan/Correspondent Mortgage Loan/Wholesale Mortgage Loan
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 Government Mortgage Loan – Retail Mortgage Loan/Correspondent Mortgage Loan/Wholesale Mortgage Loan
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 Government Mortgage Loan with FICO Score less than 640 and equal to or greater than 580
	  	 [***]
	  	[***]	  	[***]	  	 [***]

	 HARP Mortgage Loan
	  	 [***]
	  	 [***]
	  	 [***] 
	  	 [***]

	 Jumbo Mortgage Loan3
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 Client Credit Underwritten Non-Agency Jumbo Loan
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 Non-QM Mortgage Loan
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 NQM Program – with no Takeout Investor clear to close approval
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 Agency Security
	  	 [***]
	  	 [***]
	  	 [***]
	  	 [***]

	 Wet-Ink Mortgage Loan4
	  	  [***]5	  		  		  	

  

	1 	To the extent that a particular mortgage loan type is not listed, such loan type shall not be purchased pursuant to this facility. 

	2 	The Sublimit and/or Agency Security Sublimit percentages set forth above with respect to each loan type are based on the percentage equal to the Aggregate Purchase Price to each respective loan type balance divided by
the Maximum Aggregate Purchase Price. 

	3 	Jumbo Mortgage Loan Limit, inclusive of a maximum of $[***] for Client Credit Underwritten Non-Agency Jumbo Loans. 

	4 	For a Purchased Mortgage Loan that is a Wet-Ink Mortgage Loan, such Mortgage Loan shall be subject to [***] and [***], but only subject to [***] applicable to such Mortgage Loan type. 

	5 	The Sublimit for a Wet-Ink Mortgage Loan shall be [***]%; except that, the Sublimit for a Wet-Ink Mortgage Loan shall be [***]% for the first five (5) Business Days of the month and the last five (5) Business Days of
the month. 

  
 Page 8 of 9 

 SCHEDULE 4 

AUTHORIZED REPRESENTATIVES 
  

			
	SELLER AUTHORIZATIONS:	  	
		
	Name: Jon Frojen	  	Name: Mike Smith
	Title: Chief Financial Officer	  	Title: Chief Accounting Officer
		
	BUYER AUTHORIZATIONS:	  	
		
	Name: Kenneth D. Logan	  	
	Title: Managing Director	  	

  
 Page 9 of 9EX-10.50

 Exhibit 10.50 

[***] Confidential portions of this document have been redacted and filed separately with the Commission. 

EXECUTION VERSION 
 AMENDED AND
RESTATED MASTER REPURCHASE AGREEMENT 
 (the “Agreement”) 

between 
 BANK OF AMERICA, N.A.

 (“Buyer”) 
 and

 LOANDEPOT.COM, LLC 

(“Seller”) 
 dated as of

 July 17, 2015 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE 1 DEFINITIONS AND PRINCIPLES OF CONSTRUCTION
	  	 	1	  
	 1.1
	 	Defined Terms	  	 	1	  
	 1.2
	 	Principles of Constructions	  	 	1	  
		
	 ARTICLE 2 AMOUNT AND TERMS OF TRANSACTIONS
	  	 	2	  
	 2.1
	 	Agreement to Enter into Transactions	  	 	2	  
	 2.2
	 	Transaction Limits	  	 	2	  
	 2.3
	 	Description of Purchased Assets	  	 	2	  
	 2.4
	 	Maximum Transaction Amounts	  	 	2	  
	 2.5
	 	Use of Proceeds	  	 	2	  
	 2.6
	 	Price Differential	  	 	2	  
	 2.7
	 	All Transactions are “Servicing Released”	  	 	3	  
	 2.8
	 	Terms and Conditions of Transactions	  	 	3	  
	 2.9
	 	Additional Security Agreements	  	 	3	  
		
	 ARTICLE 3 PROCEDURES FOR REQUESTING AND ENTERING INTO TRANSACTIONS
	  	 	3	  
	 3.1
	 	Policies and Procedures	  	 	3	  
	 3.2
	 	Request for Transaction; Asset Data Record	  	 	3	  
	 3.3
	 	Delivery of Mortgage Loan Documents	  	 	4	  
	 3.4
	 	Haircut	  	 	5	  
	 3.5
	 	Over/Under Account	  	 	5	  
	 3.6
	 	Payment of Purchase Price	  	 	7	  
	 3.7
	 	Approved Payees	  	 	9	  
	 3.8
	 	Funding Drafts	  	 	10	  
	 3.9
	 	Temporary Modifications	  	 	10	  
		
	 ARTICLE 4 REPURCHASE
	  	 	13	  
	 4.1
	 	Repurchase Price	  	 	13	  
	 4.2
	 	Repurchase Acceleration Events	  	 	13	  
	 4.3
	 	Reduction of Asset Value as Alternative Remedy	  	 	14	  
	 4.4
	 	Designation as Noncompliant Mortgage Loan as Alternative Remedy	  	 	14	  
	 4.5
	 	Illegality or Impracticability	  	 	14	  
	 4.6
	 	Payments Pursuant to Sale to Approved Investors	  	 	14	  
	 4.7
	 	Application of Payments from Seller or Approved Investors	  	 	15	  
	 4.8
	 	Method of Payment	  	 	15	  
	 4.9
	 	[Reserved]	  	 	16	  
	 4.10
	 	[Reserved]	  	 	16	  
	 4.11
	 	Book Account	  	 	16	  
	 4.12
	 	Full Recourse	  	 	16	  

  
 i 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE 5 FEES
	  	 	16	  
	 5.1
	 	Payment of Fees	  	 	16	  
		
	 ARTICLE 6 SECURITY; SERVICING; MARGIN ACCOUNT MAINTENANCE; CUSTODY OF MORTGAGE LOAN DOCUMENTS AND REPURCHASE
TRANSACTIONS
	  	 	16	  
	 6.1
	 	Grant of Security Interest in Purchased Assets; Precautionary Grant of Security Interest in Purchased Mortgage Loans	  	 	16	  
	 6.2
	 	Servicing	  	 	17	  
	 6.3
	 	Margin Account Maintenance	  	 	20	  
	 6.4
	 	Custody of Mortgage Loan Documents	  	 	21	  
	 6.5
	 	Release of Mortgage Loan Documents	  	 	22	  
	 6.6
	 	True Sales; Repurchase Transactions	  	 	23	  
		
	 ARTICLE 7 CONDITIONS PRECEDENT
	  	 	23	  
	 7.1
	 	Initial Transaction	  	 	23	  
	 7.2
	 	All Transactions	  	 	25	  
	 7.3
	 	[Reserved]	  	 	26	  
	 7.4
	 	Satisfaction of Conditions	  	 	26	  
		
	 ARTICLE 8 REPRESENTATIONS AND WARRANTIES
	  	 	26	  
	 8.1
	 	Representations and Warranties Concerning Seller	  	 	26	  
	 8.2
	 	Representations and Warranties Concerning Purchased Assets	  	 	26	  
	 8.3
	 	Continuing Representations and Warranties	  	 	26	  
	 8.4
	 	Amendment of Representations and Warranties	  	 	26	  
		
	 ARTICLE 9 AFFIRMATIVE COVENANTS
	  	 	26	  
	 9.1
	 	Financial Statements and Other Reports	  	 	26	  
	 9.2
	 	Inspection of Properties and Books	  	 	28	  
	 9.3
	 	Notice	  	 	28	  
	 9.4
	 	[Reserved]	  	 	29	  
	 9.5
	 	Servicing of Mortgage Loans	  	 	30	  
	 9.6
	 	Evidence of Purchased Assets	  	 	30	  
	 9.7
	 	Protection of Purchased Mortgage Loans	  	 	30	  
	 9.8
	 	Further Assurances	  	 	30	  
	 9.9
	 	Fidelity Bonds and Insurance	  	 	30	  
	 9.10
	 	Wet Mortgage Loans	  	 	30	  
		
	 ARTICLE 10 NEGATIVE COVENANTS
	  	 	31	  
	 10.1
	 	[Reserved]	  	 	31	  
	 10.2
	 	Debt and Subordinated Debt	  	 	31	  
	 10.3
	 	Loss of Eligibility	  	 	31	  
	 10.4
	 	Financial Covenants and Ratios	  	 	31	  
	 10.5
	 	Loans to Officers, Employees and Shareholders	  	 	31	  
	 10.6
	 	Liens on Purchased Mortgage Loans and Purchased Assets; Liens on Other Assets	  	 	31	  
	 10.7
	 	Transactions with Affiliates	  	 	32	  
	 10.8
	 	Consolidation, Merger, Sale of Assets and Change of Control	  	 	32	  
	 10.9
	 	Payment of Dividends and Retirement of Stock	  	 	32	  

  
 ii 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 10.10
	 	Purchased Assets	  	 	32	  
	 10.11
	 	Secondary Marketing, Underwriting, Third Party Origination and Interest Rate Risk Management Practices	  	 	32	  
		
	 ARTICLE 11 DEFAULTS AND REMEDIES
	  	 	33	  
	 11.1
	 	Events of Default	  	 	33	  
	 11.2
	 	Remedies	  	 	35	  
	 11.3
	 	[Reserved]	  	 	36	  
	 11.4
	 	Sale of Purchased Assets	  	 	36	  
	 11.5
	 	No Obligation to Pursue Remedy	  	 	36	  
	 11.6
	 	Reimbursement of Costs and Expenses	  	 	36	  
	 11.7
	 	Application of Proceeds	  	 	37	  
	 11.8
	 	Rights of Set-Off	  	 	37	  
	 11.9
	 	Reasonable Assurances	  	 	38	  
		
	 ARTICLE 12 INDEMNIFICATION
	  	 	38	  
	 12.1
	 	Indemnification	  	 	38	  
	 12.2
	 	Payment of Taxes	  	 	38	  
	 12.3
	 	Agreement Not to Assert Claims	  	 	38	  
	 12.4
	 	Survival	  	 	38	  
		
	 ARTICLE 13 TERM AND TERMINATION
	  	 	39	  
	 13.1
	 	Term	  	 	39	  
	 13.2
	 	Termination	  	 	39	  
	 13.3
	 	Extension of Term	  	 	39	  
		
	 ARTICLE 14 GENERAL
	  	 	40	  
	 14.1
	 	Integration; Servicing Provisions Integral and Non-Severable	  	 	40	  
	 14.2
	 	Amendments	  	 	40	  
	 14.3
	 	No Waiver	  	 	40	  
	 14.4
	 	Remedies Cumulative	  	 	40	  
	 14.5
	 	Assignment	  	 	40	  
	 14.6
	 	Successors and Assigns	  	 	41	  
	 14.7
	 	Participations	  	 	41	  
	 14.8
	 	Invalidity	  	 	41	  
	 14.9
	 	Additional Instruments	  	 	41	  
	 14.10
	 	Survival	  	 	41	  
	 14.11
	 	Notices	  	 	41	  
	 14.12
	 	Personal Identification Number	  	 	42	  
	 14.13
	 	Governing Law	  	 	43	  
	 14.14
	 	Counterparts	  	 	43	  
	 14.15
	 	Headings	  	 	43	  
	 14.16
	 	Joint and Several Liability of Each Seller	  	 	43	  
	 14.17
	 	Confidential Information	  	 	43	  
	 14.18
	 	Intent	  	 	44	  

  
 iii 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 14.19
	 	Right to Liquidate	  	 	45	  
	 14.20
	 	Insured Depository Institution	  	 	45	  
	 14.21
	 	Netting Contract	  	 	45	  
	 14.22
	 	Reimbursement of Expenses	  	 	45	  
	 14.23
	 	Examination and Oversight by Regulators	  	 	45	  
	 14.24
	 	Waiver of Jury Trial	  	 	45	  
	 14.25
	 	Amendment and Restatement	  	 	46	  

 EXHIBITS 
  

			
	Exhibit A:	  	Glossary of Defined Terms
	Exhibit B:	  	Irrevocable Closing Instructions
	Exhibit C:	  	Secretary’s Certificate
	Exhibit D:	  	Corporate Resolutions
	Exhibit E:	  	Officer’s Certificate
	Exhibit F:	  	Assignment of Closing Protection Letter
	Exhibit G:	  	Assignment of Fidelity Bond and Errors and Omission Policy
	Exhibit H:	  	Form of Power of Attorney
	Exhibit I:	  	Acknowledgement of Password Confidentiality Agreement
	Exhibit J:	  	Wiring Instructions
	Exhibit K:	  	Form of Servicer Notice
	Exhibit L:	  	Representations and Warranties
	Exhibit M:	  	Form of Confirmation of Temporary Modification

 SCHEDULES 
  

			
	Schedule 1:	  	Filing Jurisdictions and Offices

  
 iv 

 AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT 

THIS AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT (the “Agreement”) is made and entered into as of July 17, 2015 by and between Bank
of America, N.A., a national banking association (“Buyer”), and loanDepot.com, LLC, a Delaware limited liability company (“Seller”). 

RECITALS 
  

	 	A.	Buyer and Seller entered into that certain Master Repurchase Agreement, dated as of December 23, 2009 (as amended, supplemented or otherwise modified from time to time, the “Original Agreement”).

  

	 	B.	Buyer and Seller desire to amend the Original Agreement in its entirety by amending and restating it subject to the terms and conditions of this Agreement. 

 

	 	C.	Seller has requested Buyer to enter into transactions with Seller whereby Seller may, from time to time, sell to Buyer certain residential mortgage loans (including the servicing rights related thereto) and/or other
mortgage related assets and interests, against the transfer of funds by Buyer, with a simultaneous agreement by Buyer to sell to Seller such purchased assets at a date certain or on demand after the Purchase Date, against the transfer of funds by
Seller (each such transaction, a “Transaction”). 

  

	 	D.	Buyer has agreed to consider entering into such Transactions, subject to the terms and conditions set forth in this Agreement. 

NOW, THEREFORE, in consideration of the mutual rights and obligations provided herein and for other good and valuable consideration, the receipt and adequacy
of which are hereby acknowledged, Seller and Buyer agree as follows: 
 ARTICLE 1 

DEFINITIONS AND PRINCIPLES OF CONSTRUCTION 

1.1 Defined Terms. As used in this Agreement, capitalized terms shall have the meanings set forth in Exhibit A hereto, unless the context
otherwise requires. All such defined terms shall, unless specifically provided to the contrary, have the defined meanings set forth herein when used in any other agreement, certificate or document made or delivered pursuant hereto. 

1.2 Principles of Constructions. 
  

	 	(a)	Accounting Terms. Accounting terms not otherwise defined herein shall have the meanings given under GAAP. 

  

	 	(b)	Number. All terms defined in this Agreement may be used in the singular or the plural, as the context requires. 

  

	 	(c)	Successors and Assigns. Reference to any party shall mean that party and its successors and assigns permitted by the terms of this Agreement. 

  
 1 

 ARTICLE 2 

AMOUNT AND TERMS OF TRANSACTIONS 
 2.1
Agreement to Enter into Transactions. Subject to the terms and conditions of this Agreement and provided that no Event of Default or Potential Default has occurred and is continuing, Buyer agrees, from time to time during the term of
this Agreement, to consider entering into Transactions with Seller; provided, however, that the Buyer shall be under no obligation to enter into Transactions with Seller and the total aggregate Transactions outstanding at any one time shall not
exceed the Aggregate Transaction Limit and the aggregate type of Transactions outstanding at any one time shall not exceed the applicable Type Sublimit. 

2.2 Transaction Limits. The Aggregate Transaction Limit and each Type Sublimit shall be as set forth in the Transactions Terms Letter. Buyer
shall have the right, in its sole and good faith discretion, to reduce, whether permanently or temporarily, and without refund of any fee or other amount previously paid by Seller, the Aggregate Transaction Limit and/or each Type Sublimit. In the
event of any reduction pursuant to this Section 2.2, Buyer shall give Seller prior notice thereof, which notice shall designate (a) the effective date of any such reduction, (b) the amount of the reduction and (c) the
Transaction and/or Type Sublimit limit(s) to which such reduction amount shall apply. Buyer shall not be liable to Seller for any costs, losses or damages arising from or relating to a reduction by Buyer in the Aggregate Transaction Limit or any
Type Sublimit. 
 2.3 Description of Purchased Assets. With respect to each Transaction, Seller shall cause to be maintained with Buyer
Purchased Assets consisting of a Purchased Mortgage Loan(s) with an Asset Value not less than, at any date, the related Purchase Price for such Transaction. With respect to each Transaction, the type of Purchased Mortgage Loan shall be the type of
Mortgage Loan as specified in the Transactions Terms Letter as the Type, and in each case shall consist of the type of mortgage loans, mortgage related securities, or interests therein as described in Bankruptcy Code section 101(47)(A). If there is
uncertainty as to the Type of a Purchased Mortgage Loan, Buyer, in its sole and good faith discretion, shall determine the correct Type for such Purchased Mortgage Loan. 

2.4 Maximum Transaction Amounts. Each Transaction shall not exceed the lesser of: 

 

	 	(a)	the applicable Type Sublimit, as determined by the type of Purchased Mortgage Loan; 

  

	 	(b)	the Aggregate Transaction Limit, minus the aggregate amount of all other Transactions outstanding, if any; and 

  

	 	(c)	the Asset Value of the related Purchased Mortgage Loan(s). 

 2.5 Use of Proceeds. Seller shall
use the Purchase Price of each Transaction solely for the purpose of originating and/or acquiring the related Purchased Mortgage Loan(s). 
 2.6 Price
Differential. 
  

	 	(a)	 Pricing Rate. Notwithstanding that Buyer and Seller intend that the Transactions hereunder be sales by Seller to Buyer of the Purchased
Mortgage Loans for all purposes except accounting and tax purposes, Seller shall pay Buyer a price differential on the Purchase Price for each Purchased Mortgage Loan from the Date of Disbursement until, but not including, the date of repurchase, at
an annual rate equal to the sum of the Applicable Pricing Rate plus the applicable Margin; provided, however, that if a Purchased Mortgage Loan is deemed to be a Noncompliant Mortgage Loan, thereafter,

  
 2 

	 	
such Purchase Price shall bear a price differential at an annual rate equal to the sum of the Applicable Pricing Rate plus the Type Margin for a Noncompliant Mortgage Loan. Notwithstanding the
foregoing, if the Repurchase Price for a Transaction is not paid by Seller when due (whether at the Repurchase Date, upon acceleration or otherwise), the Purchase Price shall bear a price differential from the date due until paid in full at an
annual rate equal to the Default Rate. 

  

	 	(b)	Time for Payment. Accrued interest for each Purchase Price shall be due and payable on each Payment Date which occurs prior to the date on which the Repurchase Price is paid. On the date that the Repurchase Price
is paid, all accrued interest not otherwise paid by Seller shall be due and payable. 

  

	 	(c)	Computations. All computations of price differentials and fees payable hereunder shall be based upon a year of three-hundred sixty (360) days. 

2.7 All Transactions are “Servicing Released”. The sale of Mortgage Loans by Seller to Buyer pursuant to Transactions under this
Agreement includes the servicing rights related to the Mortgage Loans and all Transactions under this Agreement are “servicing released” purchase and sale transactions for all intents and purposes, it being understood that the Purchase
Price paid by Buyer to Seller for each Mortgage Loan includes a premium that compensates Seller for the servicing rights related to the Mortgage Loan and upon payment of the Purchase Price by Buyer to Seller, Buyer becomes the owner of the Mortgage
Loan, including the servicing rights related to the Mortgage Loan. 
 2.8 Terms and Conditions of Transactions. The terms and conditions of
the Transactions as set forth in the Transactions Terms Letter, this Agreement or otherwise may be changed from time to time by Buyer at its sole and good faith discretion by providing prior notice to Seller. 

2.9 Additional Security Agreements. As may be determined necessary by Buyer from time to time in its sole and good faith discretion, Seller
agrees to cause to be executed and delivered to Buyer such additional security agreements as additional support for Seller’s obligations hereunder, which additional security agreements shall be considered “margin payments” as such
term is defined in Bankruptcy Code Section 741(5). 
 ARTICLE 3 

PROCEDURES FOR REQUESTING AND ENTERING INTO TRANSACTIONS 

3.1 Policies and Procedures. In connection with the Transactions contemplated hereunder, Seller shall comply with all applicable policies and
procedures of Buyer as may currently exist or as hereafter created. Such policies and procedures may be in writing, published on Buyer’s website(s) or otherwise contained in the Handbook. Buyer shall have the right to change, revise, amend or
supplement its policies and procedures and the Handbook from time to time to conform to current legal requirements or Buyer practices by giving advance notice thereof to Seller. 

3.2 Request for Transaction; Asset Data Record. 
  

	 	(a)	 Request for Transaction. Seller shall request a Transaction by delivering to Buyer, electronically or in writing, an Asset Data Record for each
Mortgage Loan intended to be the subject of the Transaction no later than the Transaction Request Deadline; provided, however, that (i) if Seller intends to request a Transaction or series of Transactions equal to or greater than ten million
($10,000,000) dollars or (ii) Seller is approved to receive the Purchase Price for Transactions via cashiers check and would like the Purchase Price 

  
 3 

	 	
for a Transaction to be paid by cashiers check, in either case, Seller shall provide Buyer not fewer than one (1) Business Day prior written notice thereof. Buyer shall be under no
obligation to enter into any Transaction or Transactions requested by Seller. If Buyer decides to enter into a Transaction, Buyer shall confirm to Seller the terms of Transactions electronically or in writing. Buyer reserves the right to reject any
Transaction request that Buyer determines, in its sole and good faith discretion, fails to comply with the terms and conditions of this Agreement or Buyer’s then current policies and procedures. 

 

	 	(b)	Failure to Enter into Transaction; Cancellation of Transaction. If Seller fails five (5) times or more to enter into a Transaction after Seller has requested a Transaction and submitted an Asset Data Record
in connection with such request, for each Transaction requested by Seller thereafter for which Seller fails to enter into such Transaction, Seller shall pay Buyer the Breakage Fee and reimburse Buyer for any reasonable out-of-pocket losses, costs
and expenses incurred by Buyer in connection with such failure to enter into the Transaction, including, without limitation, costs relating to re-employment of funds obtained by Buyer and fees payable to terminate the arrangements through which such
funds were obtained. In addition, if following disbursement by Buyer of the Purchase Price relating to any Transaction, Seller cancels such Transaction, regardless of the number of Transactions Seller has previously cancelled, Seller shall pay Buyer
a price differential on such Purchase Price from the Date of Disbursement until, but not including, the date the Purchase Price is returned to Buyer. 

  

	 	(c)	Form of Asset Data Record. Buyer shall have the right to revise or supplement the form of the Asset Data Record from time to time by giving prior notice thereof to Seller. 

3.3 Delivery of Mortgage Loan Documents. 
  

	 	(a)	Dry Mortgage Loans. Prior to any Transaction related to a Dry Mortgage Loan, Seller shall deliver to Buyer or its Custodian, or authorize and direct the Closing Agent to deliver to Buyer or its Custodian, the
related Mortgage Loan Documents. 

  

	 	(b)	Wet Mortgage Loans. With respect to a Transaction the subject of which is a Wet Mortgage Loan, Seller shall deliver to Buyer or its Custodian, or authorize and direct the Closing Agent to deliver to Buyer or its
Custodian, the related Mortgage Loan Documents within the Wet Mortgage Loans Maximum Dwell Time. 

  

	 	(c)	Government Mortgage Loans. If a Government Mortgage Loan is the subject of a Transaction, Seller shall, at the request of Buyer, deliver to Buyer or its Custodian, within forty five (45) calendar days
following the date of such Transaction, a mortgage insurance policy issued under an FHA insurance program or a guaranty for the full and timely payment of principal and interest issued by the VA or the RD, as applicable, or evidence of such
insurance or guaranty, as applicable, including proof of payment of the premium and the case number so Buyer can access the information on the computer system maintained by FHA, the VA, or the RD. 

 

	 	(d)	Mortgage Loan Documents in Seller’s Possession. At all times during which the Mortgage Loan Documents related to any Purchased Mortgage Loan are in the possession of Seller, and until such Purchased Mortgage
Loan is repurchased by Seller, Seller shall hold such Mortgage Loan Documents in trust separate and apart from Seller’s own documents and assets and for the exclusive benefit of Buyer and shall act only in accordance with Buyer’s written
instructions thereto. Such Mortgage Loan Documents should be clearly marked as subject to delivery to Buyer. 

  
 4 

	 	(e)	Other Mortgage Loan Documents in Seller’s Possession. With respect to each Purchased Mortgage Loan, until such Purchased Mortgage Loan is repurchased by Seller, Seller shall hold in trust separate and apart
from Seller’s own documents and assets and for the exclusive benefit of Buyer all mortgage loan documents related to such Purchased Mortgage Loan and not delivered to Buyer, including, without limitation, the Other Mortgage Loan Documents, as
applicable. All such mortgage loan documents shall be clearly marked as subject to delivery to Buyer. 

 3.4 Haircut. With
respect to each Transaction, Seller shall ensure that there are sufficient funds on deposit in the Over/Under Account such that following the withdrawal of the Haircut by Buyer, the balance of the Over/Under Account is equal to or greater than the
minimum required balance, as set forth in the Transactions Terms Letter. 
 3.5 Over/Under Account. 

 

	 	(a)	Minimum Balance. Seller shall at all times maintain a margin balance in the Over/Under Account of not less than that amount set forth in the Transactions Terms Letter, which account shall be used to assist in
settling the Transactions and any other obligations under this Agreement. Buyer shall not be required to segregate and hold funds deposited by or on behalf of Seller in the Over/Under Account separate and apart from Buyer’s own funds or funds
deposited by or held for others. Upon the occurrence of a Potential Default or an Event of Default, Buyer shall have the right, in its sole and good faith discretion, to increase the minimum margin balance Seller is required to maintain in the
Over/Under Account by giving notice to Seller thereof. If Seller fails to deposit funds in the Over/Under Account to comply with any such required increase within the time frame required by Buyer, Buyer shall have the right, in its sole and good
faith discretion, to retain in the Over/Under Account any amounts received by Buyer on behalf of Seller or otherwise credited to the Over/Under Account to comply with any such required increases, including, without limitation, any purchase proceeds
received by Buyer from any Approved Investor pursuant to Section 4.6. Buyer shall not be liable to Seller for any costs, losses or damages arising from or relating to the increase of the minimum margin balance that Seller is required to
maintain in the Over/Under Account or retention of excess funds by Buyer to comply with any such increase. 

  

	 	(b)	Deposits. 

  

	 	(i)	Seller. Seller shall deposit margin in the form of funds in the Over/Under Account in accordance with the terms of this Agreement, including, without limitation, Section 3.4 and
Section 3.5(a). 

  

	 	(ii)	Buyer. Buyer shall credit to the Over/Under Account all amounts in excess of those amounts due to Buyer in accordance with the Principal Agreements on the date Buyer receives or has received both (1) a
payment by Seller or an Approved Investor pursuant to a Purchase Commitment and (2) a Purchase Advice relating to such payment without discrepancy; provided, however, that funds and Purchase Advices received by Buyer after that time set forth
in the Transactions Terms Letter, shall be deemed to have been received on the next Business Day. Buyer shall use reasonable efforts to notify Seller if there is a discrepancy 

  
 5 

	 	
between a wire transfer and the related Purchase Advice, and thereafter, Seller shall notify Buyer as to whether Buyer should accept such settlement payment despite the discrepancy between the
amount received and the related Purchase Advice; provided, however, that if an Event of Default or Potential Default has occurred and is continuing, Buyer is not obligated to receive approval from Seller prior to accepting any amounts received and
releasing the related Purchased Assets. 

  

	 	(iii)	Settlement Statement. Buyer shall deliver to Seller via facsimile or make available to Seller via the Internet within one (1) Business Day following settlement of a Transaction, or as soon thereafter as is
reasonably possible, a settlement statement, which includes an explanation of all amounts credited by Buyer to the Over/Under Account to settle the Transaction. 

  

	 	(c)	Withdrawals. 

  

	 	(i)	Seller. If the amount credited to the Over/Under Account creates a balance in excess of the minimum margin balance required pursuant to Section 3.5(a) above, provided that no Potential Default or
Event of Default has occurred and is continuing, Seller may submit a written request to Buyer for return or payment of such excess funds. If any such request is received by Buyer prior to 10:00 a.m. (Pacific time) on a Business Day, Buyer shall use
commercially reasonable efforts to wire such requested excess funds to Seller by the end of such Business Day and in no event no later than two (2) Business Days after Buyer’s receipt of such request. Notwithstanding anything contained in
this Section 3.5(c)(i) to the contrary, Buyer reserves the right to reject any request for excess funds from the Over/Under Account if Buyer determines, in its sole and good faith discretion, that such excess funds shall be used to
satisfy Seller’s outstanding obligations under this Agreement or are subject to other rights as provided in this Agreement. 

  

	 	(ii)	Buyer. Buyer may, from time to time and without separate authorization by Seller or notice to Seller, withdraw funds from the Over/Under Account to settle amounts owed in accordance with the terms of this
Agreement or to otherwise satisfy Seller’s obligations under this Agreement, including, without limitation: 

  

	 	(1)	with respect to any Transaction, to deliver the Haircut to the Closing Agent; 

  

	 	(2)	to reimburse itself for any reasonable costs and expenses incurred by Buyer in connection with this Agreement, as permitted herein; 

  

	 	(3)	to pay itself any price differential on a Purchase Price that is due and owing; 

  

	 	(4)	to Seller as provided in Section 3.5(c)(i); 

  

	 	(5)	as security for the performance of Seller’s obligations hereunder; 

  

	 	(6)	without limiting the generality of Section 3.5(c)(ii)(5), as security for a Transaction as provided in Section 6.3(a) or as repayment of a Repurchase Price as provided in
Section 6.3(b); and 

  
 6 

	 	(7)	in the exercise of Buyer’s or its Affiliates rights under Section 6.3(d) or Section 11.8. 

  

	 	(d)	Failure to Maintain Balance. If, at any time, Seller fails to maintain in the Over/Under Account the minimum margin balance as required hereunder, in addition to any other rights and remedies that Buyer may have
against Seller, Buyer shall have the right, at its sole and good faith discretion, to immediately stop entering into Transactions with Seller and/or to charge Seller accrued interest on that portion of the minimum margin balance that Seller has
failed to maintain, at the Default Rate, from the time that such balance failed to be maintained until the time that funds are deposited into or held in the Over/Under Account to comply with such minimum margin balance requirements hereunder.
Without limiting the generality of the foregoing, it is understood and agreed that should the balance in the Over/Under Account become negative, Seller will continue to owe Buyer accrued interest as provided herein. 

 

	 	(e)	Security Interest. Any funds of Seller at any time deposited or held in the Over/Under Account, whether such funds are required to be deposited and held in the Over/Under Account pursuant to this
Section 3.5 or otherwise, are hereby pledged by Seller as security for its obligations under this Agreement, and Seller hereby grants a security interest in such funds to Buyer. 

3.6 Payment of Purchase Price. 
  

	 	(a)	Payment of Purchase Price. On the Purchase Date for each Transaction, ownership of the Purchased Mortgage Loans, including the servicing rights related thereto, shall be transferred to Buyer against the
simultaneous transfer of the Purchase Price to Seller simultaneously with the delivery to Buyer of the Purchased Mortgage Loans relating to each Transaction. With respect to the Purchased Mortgage Loans being sold by Seller on the Purchase Date,
Seller hereby sells, transfers, conveys and assigns to Buyer or its designee without recourse, but subject to the terms of this Agreement, all the right, title and interest of Seller in and to the Purchased Mortgage Loans, including the servicing
rights related thereto, together with all right, title and interest in and to the proceeds of any related Purchased Assets. 

  

	 	(b)	Methods of Payment. On the Purchase Date for each Transaction: 

  

	 	(i)	 Buyer may pay the Purchase Price (A) by wire transfer in accordance with Seller’s wire instructions in Exhibit J, (B) if Seller
is approved to receive the Purchase Price via cashiers check and has requested to receive the Purchase Price via cashiers check, by cashiers check or (C) if Seller is approved to present funding drafts to Buyer and Seller has requested to
receive the Purchase Price via funding draft, by funding draft, subject to the requirements of Section 3.8. Unless Seller is approved to receive the Purchase Price via cashiers check or funding draft and Seller has requested that payment
be made using one of these methods for a particular Transaction, Buyer shall pay the Purchase Price for all Transactions by wire transfer. Buyer shall have no obligation to pay the Purchase Price by cashiers check or funding draft unless and until
Seller has requested to receive payment in such manner and Seller has otherwise complied with all applicable policies and procedures regarding such methods of payment. Notwithstanding the foregoing, Buyer shall not be obligated to pay the Purchase

  
 7 

	 	
Price under any method of payment to any Closing Agent or warehouse lender that is not an Approved Payee. Further, the payment of the Purchase Price by Buyer to any Closing Agent or warehouse
lender that is not an Approved Payee shall not make such Closing Agent or warehouse lender an Approved Payee. Any funds disbursed by Buyer to Seller or its Approved Payee shall be subject to all applicable federal, state and local laws, including,
without limitation, regulations and policies of the Board of Governors of the Federal Reserve System on Reduction of Payments System Risk. Seller acknowledges that as a result of such applicable laws, regulations and policies, equipment malfunction,
Buyer’s approval procedures or circumstances beyond the reasonable control of Buyer, the payment of a Purchase Price using one or more of the methods described above may be delayed. Further, Seller acknowledges that a funding draft may not
constitute “good funds” under certain state laws and funds will not be released to the payee until Buyer, in its sole and good faith discretion, has reviewed and accepted the funding draft following presentment of the draft to the payor
bank. Buyer shall not be liable to Seller for any costs, losses or damages arising from or relating to any such delays, or 

  

	 	(ii)	Notwithstanding the foregoing, where a Purchased Mortgage Loan is the subject of third party financing, Buyer may pay all or any portion of the Purchase Price directly to the warehouse or other lender that has a
security interest in the Purchased Mortgage Loan to satisfy the related indebtedness and obtain a release of such security interest. 

  

	 	(c)	Transaction Limitations and Other Restrictions Relating to Closing Agents. Notwithstanding that a particular Transaction request will not exceed the Aggregate Transaction Limit or applicable Type Sublimit, if the
payment of the Purchase Price for such Transaction to the related Closing Agent will violate Buyer’s applicable policies and procedures (as contained in the Handbook or otherwise) regarding payments to Closing Agents, Buyer may refuse to pay
the Purchase Price to such Closing Agent. 

  

	 	(d)	Return of Purchase Price. If a Wet Mortgage Loan subject to a Transaction is not closed within forty-eight (48) hours following the payment of the Purchase Price, Seller shall immediately return, or cause to
be immediately returned, the Purchase Price to Buyer. If the Purchase Price was paid by cashiers check or funding draft, Seller shall immediately void, or cause to be immediately voided (i.e. direct the Closing Agent to immediately void) the
cashiers check or funding draft, as applicable. Further, Seller shall pay Buyer all fees and any price differential thereon immediately upon notification from Buyer; provided, however, that price differential shall continue to accrue until the
Purchase Price is returned to Buyer or the voided cashiers check is received and cancelled by Buyer, as applicable. If a cashier’s check has been issued with respect to any Transaction, Buyer shall not be obligated to wire funds or issue
another cashiers check to fund such Transaction until the original voided cashiers check has been received and cancelled by Buyer. 

  
 8 

 3.7 Approved Payees. 
  

	 	(a)	Closing Agents. In order for a Closing Agent to be designated an Approved Payee with respect to any Purchase Price, Seller shall submit to Buyer the following documents: 

 

	 	(i)	if the title company issuing the title policy that covers the applicable Purchased Mortgage Loan has not issued to Buyer a blanket Closing Protection Letter, which covers closings conducted by this Closing Agent in the
jurisdiction where this closing will take place: 

  

	 	(1)	a valid blanket Closing Protection Letter, in a form acceptable to Buyer, issued to Seller or Buyer by the title company, which is issuing the title insurance policy that covers the related Purchased Mortgage Loan, that
covers closings conducted by the Closing Agent in the jurisdiction where this closing will take place and if applicable, an assignment to Buyer of such Closing Protection Letter, substantially in the form of Exhibit F hereto; or

  

	 	(2)	a valid Closing Protection Letter, in a form acceptable to Buyer, issued to Seller or Buyer by the title company, which is issuing the title insurance policy that covers the related Purchased Mortgage Loans, that covers
the closing of this specific Purchased Mortgage Loan and if applicable, an assignment to Buyer of such Closing Protection Letter, substantially in the form of Exhibit F hereto; or 

 

	 	(3)	with respect to those jurisdictions outlined in the Handbook for which Closing Protection Letters are not available or are limited in their applicability, any other documents Buyer may reasonably require, including
without limitation, an assignment to Buyer of Seller’s rights under its fidelity bond and errors and omissions policy substantially in the form of Exhibit G hereto; and 

 

	 	(ii)	evidence that the Irrevocable Closing Instructions, in the applicable form and signed by Seller and Buyer, have been delivered to such Closing Agent. 

 

	 	(b)	Warehouse Lenders. In order for a warehouse lender to be designated an Approved Payee with respect to any Purchase Price, Seller shall submit to Buyer a written request, including the name and address of the
warehouse lender, demonstrating a need for such designation. Notwithstanding the foregoing, Buyer reserves the right to refuse to designate any warehouse lender as an Approved Payee, or, alternatively, to require additional terms and conditions in
order for Buyer to pay a Purchase Price to the warehouse lender. 

  

	 	(c)	Approval Process. Buyer shall review the applicable documents and notify Seller within two (2) Business Days as to whether such Closing Agent or warehouse lender has been designated by Buyer, in its sole and
good faith discretion, to be an Approved Payee with respect to such Purchase Price. Buyer may withdraw its approval of any Closing Agent or warehouse lender as an Approved Payee if Buyer becomes aware of any facts or circumstances at any time
related to such Closing Agent or warehouse lender which Buyer determines, in its sole and good faith discretion, materially and adversely affects the Closing Agent or warehouse lender or otherwise makes the Closing Agent or warehouse lender
unacceptable as an Approved Payee. 

  
 9 

 3.8 Funding Drafts. 
  

	 	(a)	Blank Funding Drafts. If Seller is approved by Buyer to receive Purchase Prices by funding draft, Buyer, at its discretion, shall provide Seller with a limited number of blank drafts. Seller shall store such
blank drafts in a secure location and employ sufficient security procedures to ensure that each funding draft issued by Seller is authorized, authentic and complete. As requested by Buyer, Seller shall submit to Buyer an accounting of all blank
drafts provided to Seller, certified by Seller’s president or chief financial officer. Seller shall notify Buyer immediately if it discovers that any blank drafts are missing or otherwise not accounted for. 

 

	 	(b)	Completion of Funding Drafts. With respect to any Purchase Price to be paid by funding draft, Seller shall not complete a funding draft until after it has submitted an Asset Data Record for the related
Transaction to Buyer that includes the number of the draft that is to be used for the Purchase Price. Seller is responsible for completing each funding draft clearly and accurately. Buyer shall not be obligated to accept any funding draft that
contains incorrect information, is illegible or is not signed by at least two (2) authorized officers of Seller. If Seller makes an error in completing a funding draft, Seller shall void the draft and return the voided draft to Buyer with its
accounting of blank drafts. Further, Seller shall notify Buyer immediately in order to confirm a new draft number with respect to the Purchase Price. Buyer shall not have an obligation to accept any funding draft if the draft number does not match
that approved by Buyer in connection with a specific Transaction. 

  

	 	(c)	Acceptance of Funding Drafts. The payment of the Purchase Price by funding draft is subject to Buyer’s acceptance of the funding draft following presentment to the payor bank. Buyer will accept a funding
draft upon confirmation of Seller’s compliance with the terms of this Agreement, including, without limitation, receipt by Buyer of the Asset Data Record prior to the date the funding draft was written, information contained on the funding
draft is consistent with that previously provided to Buyer and the payee is an Approved Payee, as applicable. If Buyer rejects a funding draft for any reason, the Purchase Price for such Transaction may be paid by a new funding draft, provided all
applicable procedures are followed, or by an alternate payment method. 

  

	 	(d)	Condition Precedent. As a condition precedent to Seller issuing a funding draft, Seller shall have delivered to Buyer: 

  

	 	(i)	a completed signature card, in form and substance satisfactory to the bank on which the funding drafts are drawn; and 

  

	 	(ii)	a certificate of Seller’s corporate secretary, dated as of the current date, as to the incumbency and authenticity of the signatures of the officers of Seller authorized to sign funding drafts and the resolutions
of the board of directors authorizing such officers to sign funding drafts on behalf of Seller. 

 3.9 Temporary Modifications.

  

	 	(a)	 Temporary Modification to Aggregate Transaction Limit. From time to time, Seller may request that Buyer agree to a temporary increase or
decrease of the Aggregate Transaction Limit (a “Temporary Modification to Aggregate Transaction Limit”). In addition to Buyer’s rights under Section 2.2 of this Agreement to reduce the Aggregate

  
 10 

	 	
Transaction Limit at any time, Buyer shall have the sole and absolute discretion to agree to or decline such request for a Temporary Modification to Aggregate Transaction Limit, in whole or in
part, and no agreement to such Temporary Modification to Aggregate Transaction Limit shall be implied from Buyer’s failure to respond to any such request. If Buyer agrees to any such Temporary Modification to Aggregate Transaction Limit, Buyer
and Seller shall complete a Confirmation that reflects the agreed upon terms for such Temporary Modification to Aggregate Transaction Limit. Such Temporary Modification to Aggregate Transaction Limit will be effective on the effective date specified
in the Confirmation, only upon the execution of such Confirmation by both Buyer and Seller, and such Confirmation, together with the Transactions Terms Letter and this Agreement, shall constitute conclusive evidence of the terms agreed to between
Buyer and Seller with respect thereto. In the event of any conflict between the Transactions Terms Letter, this Agreement and such Confirmation, the terms of the Confirmation shall control with respect to the related Temporary Modification to
Aggregate Transaction Limit. 

 For so long as a Temporary Modification to Aggregate Transaction Limit agreed to as provided in
the foregoing paragraph is effective, (i) the Temporary Modification to Aggregate Transaction Limit shall be incorporated into the facility and subject to all of terms of this Agreement, the Transactions Terms Letter and the other Principal
Agreements as if part of the initial facility, (ii) the Aggregate Transaction Limit shall include the Temporary Modification to Aggregate Transaction Limit for all purposes of the Transactions Terms Letter and this Agreement, and (iii) all
calculations based on the Aggregate Transaction Limit shall include the Temporary Modification to Aggregate Transaction Limit, including without limitation, Unused Facility Fee, Type Sublimits and the Minimum Over/Under Account Balance. Unless
otherwise terminated pursuant to this Agreement, the Temporary Modification to Aggregate Transaction Limit shall terminate on the termination date specified in the Confirmation. Seller hereby acknowledges and agrees that it shall maintain a Minimum
Over/Under Account Balance in the amount required while such Temporary Modification to Aggregate Transaction Limit was in effect until Seller has reduced the total aggregate Transactions outstanding to the Aggregate Transaction Limit in accordance
with the preceding sentence. 
  

	 	(b)	Temporary Modification to Minimum Over/Under Account Balance. From time to time, Seller may request that Buyer agree to a temporary increase or decrease of the Minimum Over/Under Account Balance (a
“Temporary Modification to Minimum Over/Under Account Balance”). Buyer shall have the sole and absolute discretion to agree to or decline such request for a Temporary Modification to Minimum Over/Under Account Balance, in whole or in part,
and no agreement to such Temporary Modification to Minimum Over/Under Account Balance shall be implied from Buyer’s failure to respond to any such request. If Buyer agrees to any such Temporary Modification to Minimum Over/Under Account
Balance, Buyer and Seller shall complete a Confirmation that reflects the agreed upon terms for such Temporary Modification to Minimum Over/Under Account Balance. Such Temporary Modification to Minimum Over/Under Account Balance will be effective on
the effective date specified in the Confirmation, only upon the execution of such Confirmation by both Buyer and Seller, and such Confirmation, together with the Transactions Terms Letter and this Agreement, shall constitute conclusive evidence of
the terms agreed to between Buyer and Seller with respect thereto. In the event of any conflict between the Transactions Terms Letter, this Agreement and such Confirmation, the terms of the Confirmation shall control with respect to the related
Temporary Modification to Minimum Over/Under Account Balance. 

  
 11 

 For so long as a Temporary Modification to Minimum Over/Under Account Balance agreed to as
provided in the foregoing paragraph is effective, (i) the Temporary Modification to Minimum Over/Under Account Balance shall be incorporated into the facility and subject to all of terms of this Agreement, the Transactions Terms Letter and the
other Principal Agreements as if part of the initial facility, (ii) the Minimum Over/Under Account Balance shall include the Temporary Modification to Minimum Over/Under Account Balance for all purposes of the Transactions Terms Letter and this
Agreement, and (iii) all calculations based on the Minimum Over/Under Account Balance shall include the Temporary Modification to Minimum Over/Under Account Balance. Unless otherwise terminated pursuant to the Agreement, the Temporary
Modification to Minimum Over/Under Account Balance shall terminate on the termination date specified in the Confirmation. Upon the termination of any Temporary Modification to Minimum Over/Under Account Balance that has decreased the Minimum
Over/Under Account Balance, Seller shall deposit funds into the Over/Under Account and maintain such Over/Under Account in accordance with Section 3.5(a) and (b) of this Agreement. 

 

	 	(c)	Temporary Modification to Type Sublimit. From time to time, Seller may request that Buyer agree to a temporary increase or decrease of a Type Sublimit (a “Temporary Modification to Type Sublimit”).
Buyer shall have the sole and absolute discretion to agree to or decline such request for a Temporary Modification to Type Sublimit, in whole or in part, and no agreement to such Temporary Modification to Type Sublimit shall be implied from
Buyer’s failure to respond to any such request. If Buyer agrees to any such Temporary Modification to Type Sublimit, Buyer and Seller shall complete a Confirmation that reflects the agreed upon terms for such Temporary Modification to Type
Sublimit. Such Temporary Modification to Type Sublimit will be effective on the effective date specified in the Confirmation, only upon the execution of such Confirmation by both Buyer and Seller, and such Confirmation, together with the
Transactions Terms Letter and this Agreement, shall constitute conclusive evidence of the terms agreed to between Buyer and Seller with respect thereto. In the event of any conflict between the Transactions Terms Letter, this Agreement and such
Confirmation, the terms of the Confirmation shall control with respect to the related Temporary Modification to Type Sublimit. 

For so long as a Temporary Modification to Type Sublimit agreed to as provided in the foregoing paragraph is effective, (i) the Temporary
Modification to Type Sublimit shall be incorporated into the facility and subject to all of terms of this Agreement, the Transactions Terms Letter and the other Principal Agreements as if part of the initial facility, (ii) the related Type
Sublimit shall include the Temporary Modification to Type Sublimit for all purposes of the Transactions Terms Letter and this Agreement, and (iii) all calculations based on the related Type Sublimit shall include the Temporary Modification to
Type Sublimit. Unless otherwise terminated pursuant to this Agreement, the Temporary Modification to Type Sublimit shall terminate on the termination date specified in the Confirmation. Upon the termination of any Temporary Modification to Type
Sublimit that has increased a Type Sublimit, Seller shall repurchase Purchased Assets subject to such Type Sublimit in order to reduce such Type Sublimit to the original Type Sublimit. 

  
 12 

 ARTICLE 4 

REPURCHASE 
 4.1 Repurchase
Price. 
  

	 	(a)	Payment of Repurchase Price. The Repurchase Price for each Purchased Mortgage Loan shall be payable in full and by wire transfer in accordance with Buyer’s wire instructions in Exhibit J upon the
earliest to occur of (i) the Repurchase Date of the Purchased Mortgage Loan, (ii) the occurrence of any Repurchase Acceleration Event with respect to such Transaction or (iii) the expiration or termination of this Agreement. Such
obligation to repurchase exists without regard to any prior or intervening liquidation or foreclosure with respect to any Purchased Mortgage Loan. While it is anticipated that Seller will repurchase each Purchased Mortgage Loan on its related
Repurchase Date, Seller may repurchase any Purchased Mortgage Loan hereunder on demand without any prepayment penalty or premium. 

  

	 	(b)	Effect of Payment of Repurchase Price. On the Repurchase Date (or such other date on which the Repurchase Price is paid by Seller), termination of the related Transaction will be effected by the repurchase by
Seller or its designee of the Purchased Mortgage Loans and the simultaneous transfer of the Repurchase Price to an account of Buyer, or transfer of additional Mortgage Loan(s) (in each case as further described at Section 6.5), and all
of Buyer’s rights, title and interests therein shall then be conveyed to Seller or its designee. Seller is obligated to obtain the Mortgage Loan Documents from Custodian at Seller’s expense on the Repurchase Date. Notwithstanding the
foregoing, Buyer shall not be deemed to have terminated or conveyed its interests in such Purchased Mortgage Loans if an Event of Default shall then be continuing or shall be caused by such repurchase or if such repurchase gives rise to or
perpetuates a Margin Deficit that is not satisfied in accordance with Section 6.3(b). 

 4.2 Repurchase Acceleration
Events. The occurrence of any of the following events shall be a Repurchase Acceleration Event with respect to a Transaction: 
  

	 	(a)	Buyer in its sole and good faith discretion has determined that the Purchased Mortgage Loan is a Defective Mortgage Loan; 

  

	 	(b)	thirty (30) calendar days elapse from the date the Mortgage Loan Documents relating to the Purchased Mortgage Loan were delivered to an Approved Investor and such Approved Investor has not returned the Mortgage
Loan Documents or purchased the Purchased Mortgage Loan, unless an extension is granted by Buyer, in its sole and good faith discretion; 

  

	 	(c)	ten (10) Business Days elapse from the date a Mortgage Loan Document relating to the Purchased Mortgage Loan was delivered to Seller for correction or completion, without being returned to Buyer or its designee;

  

	 	(d)	Seller fails to deliver to Buyer the related Mortgage Loan Documents within the Wet Mortgage Loans Maximum Dwell Time or any Mortgage Loan Document delivered to Buyer, upon examination by Buyer, is found not to be in
compliance with the requirements of this Agreement or the related Purchase Commitment and is not corrected within the Wet Mortgage Loans Maximum Dwell Time; 

  
 13 

	 	(e)	Regardless of whether a Purchased Mortgage Loan is a Defective Mortgage Loan, a foreclosure or similar type of proceeding is initiated with respect to the Purchased Mortgage Loan; or 

 

	 	(f)	the further sale of the Purchased Mortgage Loan by Seller. 

 4.3 Reduction of Asset Value as Alternative
Remedy. In Buyer’s sole and good faith discretion, in lieu of requiring full repayment of the Repurchase Price upon the occurrence of a Repurchase Acceleration Event, Buyer may elect to reduce the Asset Value of the related Purchased
Mortgage Loan (to as low as zero) and accordingly require a full or partial repayment of such Repurchase Price or the delivery of other funds or collateral, which additional assets shall be “margin payments” or “settlement
payments” as such terms are defined in Bankruptcy Code Section 741(5) and (8), respectively. 
 4.4 Designation as Noncompliant Mortgage
Loan as Alternative Remedy. In Buyer’s sole and good faith discretion, in lieu of requiring full repayment of the Repurchase Price upon the occurrence of a Repurchase Acceleration Event, Buyer may elect to deem the related Purchased
Mortgage Loan a Noncompliant Mortgage Loan, provided that (a) after such Purchased Mortgage Loan is deemed to be a Noncompliant Mortgage Loan, the aggregate original Asset Value of all Noncompliant Mortgage Loans does not exceed the Type
Sublimit for Noncompliant Mortgage Loans; (b) the Asset Value of the Noncompliant Mortgage Loan is greater than the Repurchase Price or Seller provides additional Purchased Assets or repays part of the Repurchase Price as provided in
Section 6.3 in each case as a “margin payment” as such term is defined in Bankruptcy Code Section 741(5); and (c) Seller delivers to Buyer all documentation relating to the Purchased Mortgage Loan reasonably requested
by Buyer. 
 4.5 Illegality or Impracticability. Notwithstanding anything to the contrary in this Agreement, if Buyer determines in its sole
and good faith discretion that any law, regulation, treaty or directive or any change therein or in the interpretation or application thereof, or any circumstance materially and adversely affecting the London interbank market, the repurchase market
for mortgage loans or mortgage-backed securities or the source or cost of Buyer’s funds, shall make it unlawful, impractical or commercially unreasonable for Buyer to enter into or maintain Transactions as contemplated by this Agreement
(a) the commitment of Buyer hereunder to enter into or to continue to maintain Transactions shall be cancelled and (b) the Repurchase Price for each Transaction then outstanding shall be due and payable upon the earlier to occur of
(i) the date required by any financial institution providing funds to Buyer, (ii) sale of the Purchased Mortgage Loan in accordance with the terms of this Agreement, and (iii) the date as of which Buyer determines that such
Transactions are unlawful or impractical. Buyer shall not be liable to Seller for any costs, losses or damages arising from or relating from any actions taken by Buyer pursuant to this Section 4.5. 

4.6 Payments Pursuant to Sale to Approved Investors. Seller shall direct each Approved Investor purchasing a Purchased Mortgage Loan to pay
directly to Buyer, by wire transfer of immediately available funds, the full purchase price, without set-off, as set forth in the applicable Purchase Commitment. In addition, Seller shall provide Buyer with a Purchase Advice relating to such
payment. Seller shall not direct the Approved Investor to pay to Buyer an amount less than the full purchase price set forth in the applicable Purchase Commitment or modify or otherwise change the wire instructions for payment of the purchase price
provided to Approved Investor by Buyer. Buyer shall apply all amounts received for the account of Seller in accordance with Section 4.7 below and credit all amounts due Seller to the Over/Under Account in accordance with
Section 3.5(b)(ii) above. Buyer may reject any amount received from an Approved Investor and not release the related Purchased Mortgage Loan if (a) Buyer does not receive a Purchase Advice in respect of any wire transfer,
(b) Buyer does not receive the full purchase price, without set-off, as set forth in the applicable Purchase Commitment or (c) the amount received is not sufficient to pay the Repurchase Price. Alternatively, in lieu of rejecting an amount

  
 14 

 received by Buyer from an Approved Investor, at Buyer’s sole option and discretion, if the amount received
from the Approved Investor does not equal or exceed the Repurchase Price, Buyer may accept the amount received from the Approved Investor and deduct the remaining amounts owed by Seller from the Over/Under Account or demand payment of such remaining
amount from Seller. If Seller receives any funds intended for Buyer, Seller shall segregate and hold such funds in trust for Buyer and immediately pay to Buyer all such amounts by wire transfer of immediately available funds together with providing
Buyer with a settlement statement for the transaction. 
 4.7 Application of Payments from Seller or Approved Investors. Unless Buyer
determines otherwise, payments made directly by Seller or an Approved Investor to Buyer shall be applied in the following order of priority: 
  

	 	(a)	first, to any amounts due and owing to Buyer pursuant to Section 6.3. 

  

	 	(b)	second, to all costs, expenses and fees incurred or charged by Buyer under this Agreement that are due and owing and related to the Transaction in connection with which the payment is made; 

 

	 	(c)	third, to all costs, expenses and fees incurred or charged by Buyer under this Agreement that are due and owing and not related to a specific Transaction; 

 

	 	(d)	fourth, to the price differential then due and owing and the outstanding Purchase Price, in each case, on the Purchased Asset in connection with which the payment is made; 

 

	 	(e)	fifth, to the price differential due and owing and the outstanding Purchase Prices, in each case, on any other Purchased Assets; and 

 

	 	(f)	sixth, to the amount of all other obligations then due and owing by Seller to Buyer under this Agreement and the other Principal Agreements. 

Buyer and Seller intend and agree that all such payments shall be “settlement payments” as such term is defined in Bankruptcy Code
Section 741(8). After the settlement payments have been applied as set forth above, Buyer shall deposit in the Over/Under Account any amounts that remain. 

4.8 Method of Payment. Except as otherwise specifically provided herein, all payments hereunder must be received by Buyer on the date when due
and shall be made in United States dollars by wire transfer of immediately available funds to such account designated by Buyer from time to time. Whenever any payment to be made hereunder shall be stated to be due on a day that is not a Business
Day, the due date thereof shall be extended to the next succeeding Business Day, and with respect to payments of the Purchase Price, the price differential thereon shall be payable at the Applicable Pricing Rate during such extension. All payments
made by or on behalf of Seller with respect to any Transaction shall be applied to Seller’s account in accordance with Section 3.5(b)(ii) and Section 4.7 above and shall be made in such amounts as may be necessary in
order that all such payments after withholding for or on account of any present or future taxes, levies, imports, duties or other similar charges of whatsoever nature imposed by any government or any political subdivision or taxing authority hereof,
other than any taxes on or measured by the net income of Buyer pursuant to the state, federal and local tax laws of the jurisdiction where Buyer’s principal office or offices or lending office or offices are located, compensate Buyer for any
additional cost or reduced amount receivable of making or maintaining Transactions as a result of such taxes, imports, duties or other charges. All payments to be made by or on behalf of Seller with respect to any Transaction shall be made without
set-off, counterclaim or other defense. 

  
 15 

 4.9 [Reserved] 

4.10 [Reserved] 
 4.11 Book
Account. Buyer and Seller shall maintain an account on their respective books of all Transactions entered into between Buyer and Seller and for which the Repurchase Price has not yet been paid. As a courtesy to Seller, Buyer shall provide
such information to Seller via the Internet or by telephone or facsimile, if Seller is unable to access the information via the Internet. Notwithstanding the foregoing, Seller shall be responsible for maintaining its own book account and records of
Transactions entered into with Buyer, amounts due to Buyer in connection with such Transactions and for paying such amounts when due. Failure of Buyer to provide Seller with information regarding any Transaction shall not excuse Seller’s timely
performance of all obligations under this Agreement, including, without limitation, payment obligations under this Agreement. 
 4.12 Full
Recourse. The obligations of Seller from time to time to pay the Repurchase Price, Margin Deficit payments, settlement payments and all other amounts due under this Agreement shall be full recourse obligations of Seller. 

ARTICLE 5 
 FEES 

5.1 Payment of Fees. Seller shall pay to Buyer those fees set forth in this Agreement or the Transactions Terms Letter when they become due and
owing. Without limiting the generality of the foregoing, the initial Facility Fee shall be paid on or before the Effective Date and if this Agreement is renewed, thereafter on or before the anniversary of the Effective Date. Further, the Unused
Facility Fee shall be paid quarterly in arrears, on the first day of the months of January, April, July and October, for each preceding calendar quarter. Buyer shall be entitled to withdraw from the Over/Under Account or retain from payments made by
Seller or an Approved Investor, subject to Section 4.6, any fees permitted under this Agreement that are due and owing. If such amounts on deposit in the Over/Under Account or payments received in connection with a Transaction are not
sufficient to pay Buyer all fees owed, Buyer shall notify Seller and Seller shall pay to Buyer, within one (1) Business Day, all unpaid fees. 

ARTICLE 6 
 SECURITY;
SERVICING; MARGIN ACCOUNT MAINTENANCE; CUSTODY OF 
 MORTGAGE LOAN DOCUMENTS AND REPURCHASE TRANSACTIONS 

6.1 Grant of Security Interest in Purchased Assets; Precautionary Grant of Security Interest in Purchased Mortgage Loans. As security for the
performance of all of Seller’s obligations hereunder, Seller hereby pledges, assigns and grants to Buyer a continuing first priority security interest in and lien upon the Purchased Assets and Buyer shall have all the rights and remedies of a
“secured party” under the Uniform Commercial Code with respect to the Purchased Assets. Further, with respect to the Purchased Mortgage Loans, although the parties intend that all Transactions hereunder be sales and purchases (other than
for accounting and tax purposes) and not loans, and without prejudice to the provisions of Section 6.6 and the expressed intent of the parties, if any Transactions are deemed to be loans, as security for the performance of all of
Seller’s obligations hereunder, or if any determination is made that the servicing rights related to the Purchased Mortgage Loans were not sold by Seller to Buyer or that the servicing rights are not an interest in a Purchased Mortgage Loan and
are severable from the Purchased Mortgage Loan despite Buyer’s and Seller’s express intent herein to treat them as included in the purchase and sale transaction, Seller hereby pledges, assigns and grants to Buyer a continuing first
priority security interest in and lien upon the Purchased Mortgage Loans, including, without limitation, the servicing rights related to the Purchased Mortgage Loans, and Buyer shall have all the rights and 

  
 16 

 remedies of a “secured party” under the Uniform Commercial Code with respect to the Purchased Mortgage
Loans. Possession of any promissory notes, instruments or documents by the Custodian shall constitute possession on behalf of Buyer. At any time and from time to time, upon the written request of Buyer, and at the sole expense of Seller, Seller will
promptly and duly execute and deliver, or will promptly cause to be executed and delivered, such further instruments and documents and take such further action as Buyer may request for the purpose of obtaining or preserving the full benefits of this
Agreement and of the rights and powers herein granted, including, without limitation, the filing of any financing or continuation statements under the Uniform Commercial Code in effect in any jurisdiction with respect to the Purchased Assets, the
Purchased Mortgage Loans and the liens created hereby. Seller also hereby authorizes Buyer to file any such financing or continuation statement in a manner consistent with this Agreement to the extent permitted by applicable law. For purposes of the
Uniform Commercial Code and all other relevant purposes, this Agreement shall constitute a security agreement. 
 6.2 Servicing. 

 

	 	(a)	Servicing Rights Owned by Buyer; Buyer’s Right to Appoint Servicer. In recognition that each Purchased Mortgage Loan is sold by Seller to Buyer on a servicing released basis and Buyer is the owner of the
servicing rights related to each Purchased Mortgage Loan, Buyer shall have the sole right to appoint the Servicer for each Purchased Mortgage Loan. 

  

	 	(b)	Appointment of Servicer. Subject to Buyer’s right to appoint a successor Servicer at its sole discretion, Buyer hereby appoints Seller or the Servicer, as applicable, to subservice the Purchased Mortgage
Loans on behalf of Buyer as agent for Buyer for the period between the Purchase Date and the Repurchase Date of the Purchased Mortgage Loans. The right of Seller or the Servicer, as applicable, to service the Purchased Mortgage Loans is on an
interim basis only and does not provide or confer a contractual, ownership or other right for Seller or the Servicer, as applicable, to service the Purchased Mortgage Loans, it being understood that upon payment of the Purchase Price, Buyer owns the
servicing rights and may assume servicing or appoint a Successor Servicer at any time. Further, the fact that Seller or the Servicer may be entitled to a servicing fee for interim servicing of the Purchased Mortgage Loans or that Buyer may provide a
separate notice of default to Seller or the Servicer regarding the servicing of the Purchased Mortgage Loans shall not affect or otherwise change Buyer’s ownership of the servicing rights related to the Purchased Mortgage Loans.

  

	 	(c)	 Interim Servicing Period; No Servicing Fee or Income. For each Transaction, Seller’s or the Servicer’s, as applicable, right to
interim service a Purchased Mortgage Loan shall commence on the related Purchase Date and shall automatically terminate without notice on the earlier of (i) thirty (30) days after the related Purchase Date or (ii) the Repurchase Date.
If the interim servicing period expires with respect to any Purchased Mortgage Loan for any reason other than Seller repurchasing such Purchased Mortgage Loan, then such interim servicing period shall automatically terminate if not renewed by Buyer.
In connection with any such renewal, Seller or the Servicer, as applicable, shall continue to interim service the Purchased Mortgage Loan for a thirty (30) day extension period. Absent any such extension of the interim servicing period, Seller
or the Servicer, as applicable, shall transfer servicing of the Purchased Mortgage Loan (which shall include the delivery of all servicing records related to such Purchased Mortgage Loan) to Buyer or its designee in accordance with the instructions
of Buyer and any other applicable requirements of this Agreement. For the avoidance of doubt, upon expiration of the interim servicing period (including the expiration of any extension period) with respect to

  
 17 

	 	
any Purchased Mortgage Loan, Seller shall have no right to service the related Purchased Mortgage Loan nor shall Buyer have any obligation to extend the interim servicing period (or continue to
extend the interim servicing period), it being understood that upon such expiration, Seller shall promptly transfer the servicing of the related Purchased Mortgage Loan to Buyer or its designee in accordance with the instructions of Buyer and any
other applicable requirements of this Agreement. Buyer shall have no obligation to pay Seller or the Servicer, as applicable, nor shall Seller or the Servicer, as applicable, have any right to deduct or retain, any servicing fee or similar
compensation in connection with the interim servicing of a Purchased Mortgage Loan. 

  

	 	(d)	Servicing Agreement. If there is a Servicer of the Purchased Mortgage Loans, Seller shall enter into a Servicing Agreement with the Servicer on behalf of Buyer, which such Servicing Agreement shall be on terms
agreed to by Buyer, and which shall include, at a minimum, (i) a recognition by the Servicer of Buyer’s interests and rights to the Purchased Mortgage Loans as provided under this Agreement, including, without limitation, Buyer’s
ownership of the servicing rights related to the Purchased Mortgage Loans; (ii) an obligation for the Servicer to subservice the Purchased Mortgage Loans consistent with the degree of skill and care that the Servicer customarily requires with
respect to similar Mortgage Loans owned or managed by it but in no event no less than in accordance with Accepted Servicing Practices; (iii) an obligation to comply with all applicable federal, state and local laws and regulations; (iv) an
obligation to maintain all state and federal licenses necessary for it to perform its subservicing responsibilities; (v) an obligation not to impair the rights of Buyer in any Purchased Mortgage Loans or any payment thereto and (vi) an
obligation to collect all sums payable in respect of the Purchased Mortgage Loans on behalf of Buyer, in trust, in segregated custodial accounts. Further, such Servicing Agreement shall contain express reporting requirements and other rights to
allow Buyer to inspect the records of the Servicer with respect to the Purchased Mortgage Loans. Buyer may terminate the subservicing of any Purchased Mortgage Loan with the then existing Servicer in accordance with either Section 6.2(f)
or Section 6.2(m). 

  

	 	(e)	Servicing Obligations of Seller. To the extent Seller shall subservice any Purchased Mortgage Loan on behalf of Buyer, Seller shall: 

 

	 	(i)	Subservice and administer the Purchased Mortgage Loans on behalf of Buyer in accordance with prudent mortgage loan servicing standards and procedures generally accepted in the mortgage banking industry and in accordance
with the degree of care and servicing standards generally prevailing in the industry, including all applicable requirements of any Agency, and the requirements of any applicable Purchase Commitment and the Approved Investor, so that the eligibility
of the Purchased Mortgage Loan for purchase under such Purchase Commitment is not voided or reduced by such servicing and administration; 

  

	 	(ii)	Subject to Subsection 6.2(f), and to the extent not otherwise held by the Custodian, Seller shall at all times maintain and safeguard the Mortgage Loan File for the Purchased Mortgage Loan, and in any event shall
maintain and safeguard photocopies of the documents delivered to Buyer pursuant to Section 3.3, and accurate and complete records of its servicing of the Purchased Mortgage Loan; Seller’s possession of such Mortgage Loan File is for
the sole purpose of subservicing such Purchased Mortgage Loan and such retention and possession by Seller is in a custodial capacity only; 

  
 18 

	 	(iii)	Buyer may, at any time during Seller’s business hours on reasonable notice, examine and make copies of such documents and records, or require delivery of the originals of such documents and records to Buyer or its
designee; 

  

	 	(iv)	At Buyer’s request, Seller shall promptly deliver to Buyer reports regarding the status of any Purchased Mortgage Loan being subserviced by it, which reports shall include, but shall not be limited to, a
description of any default thereunder for more than thirty (30) days or such other circumstances that could cause a Material Adverse Change on such Purchased Mortgage Loan, Buyer’s title to such Purchased Mortgage Loan or the collateral
securing such Purchased Mortgage Loan; Seller is required to deliver such reports until the repurchase of the Purchased Mortgage Loan by Seller; and 

  

	 	(v)	Seller shall immediately notify Buyer if Seller becomes aware of any payment default that occurs under a Purchased Mortgage Loan. 

  

	 	(f)	Sale or Transfer of Servicing Rights by Buyer. Following the occurrence and continuance of an Event of Default, Buyer may sell or transfer any rights to service a Purchased Mortgage Loan without the prior written
consent of Seller or any Servicer. 

  

	 	(g)	Release of Mortgage Loan Files. Seller shall release its custody of the contents of any Mortgage Loan File only in accordance with the written instructions of Buyer, except when such release is required as
incidental to Seller’s subservicing of the Purchased Mortgage Loan, is required to complete the Purchase Commitment, or as required by law. 

  

	 	(h)	Right to Appoint Successor Servicer. Buyer reserves the right, in its sole discretion, to appoint a successor servicer to subservice any Purchased Mortgage Loan (each a “Successor Servicer”). In the
event of such an appointment, Seller or the Servicer, as applicable, shall perform all acts and take all action so that any part of the Mortgage Loan File and related servicing records held by Seller or the Servicer, together with all funds and
other receipts relating to such Purchased Mortgage Loan, are promptly delivered to the Successor Servicer. Seller shall have no claim for servicing Fees, lost profits or other damages if Buyer appoints a Successor Servicer hereunder.

  

	 	(i)	[Reserved].  

  

	 	(j)	[Reserved].  

  

	 	(k)	[Reserved]. 

  

	 	(l)	Servicer Notice. Seller shall provide promptly to Buyer (i) a Servicer Notice addressed to and agreed to by the Servicer, advising the Servicer of such matters as Buyer may reasonably request, including,
without limitation, recognition by the Servicer of Buyer’s interest in such Purchased Mortgage Loans and ownership of the servicing rights related thereto and the Servicer’s agreement that upon receipt of notice of an Event of Default from
Buyer, it will follow the instructions of Buyer with respect to the subservicing of the Purchased Mortgage Loans. 

  

	 	(m)	Notification of Servicer Defaults. If Seller should discover that, for any reason whatsoever, any entity responsible to Seller by contract for managing or servicing any such Purchased Mortgage Loan has failed to
perform fully Seller’s obligations under this Agreement or any of the obligations of such entities with respect to the Purchased Mortgage Loans, Seller shall promptly notify Buyer. 

  
 19 

	 	(n)	Termination. Buyer shall have the right at any time and for any reason to immediately terminate the Seller’s or the Servicer’s right, as applicable, to subservice the Purchased Mortgage Loans without
payment of any penalty or termination fee. Seller shall cooperate, or cause the Servicer to cooperate, in transferring the servicing of the Purchased Mortgage Loans to a successor subservicer appointed by Buyer in its sole and good faith discretion.
For the avoidance of doubt any termination of the Servicer’s rights to service by the Buyer pursuant to an Event of Default shall be deemed part of an exercise of the Buyer’s rights to cause the liquidation, termination or acceleration of
this Agreement. 

  

	 	(o)	Buyer’s Right to Service. Buyer or its designee, at the Buyer’s sole discretion, shall be entitled to service some or all of the Purchased Mortgage Loans, including, without limitation, receiving and
collecting all sums payable in respect of same. Upon Buyer’s determination and written notice to Seller or the Servicer, as applicable, that Buyer desires to service some or all of the Purchased Mortgage Loans, Seller shall promptly cooperate,
or shall cause the Servicer to promptly cooperate, with all instructions of Buyer and do or accomplish all acts or things necessary to effect the transfer of the servicing to Buyer or its designee, at Seller’s sole expense. Upon Buyer’s or
its designee’s servicing of the Purchased Mortgage Loans, (i) Buyer may, in its own name or in the name of Seller or otherwise, demand, sue for, collect or receive any money or property at any time payable or receivable on account of or in
exchange for the Purchased Mortgage Loan(s), but shall be under no obligation to do so; (ii) Seller shall, if Buyer so requests, pay to Buyer all amounts received by Seller upon or in respect of the Purchased Mortgage Loan(s) or other Purchased
Assets, advising Buyer as to the source of such funds; and (iii) all amounts so received and collected by Buyer shall be held by it as part of the Purchased Assets or applied against any outstanding Repurchase Price owed Buyer.

 6.3 Margin Account Maintenance. 
  

	 	(a)	Asset Value. Buyer shall have the right to determine the Asset Value of each Purchased Mortgage Loan on a daily basis. 

  

	 	(b)	Margin Deficit and Margin Call. If Buyer shall determine at any time that (A) the Asset Value of a Purchased Mortgage Loan subject to a Transaction is less than the related Purchase Price for such Purchased
Mortgage Loan, (B) the aggregate Asset Value of all Purchased Mortgage Loans subject to each Transaction is less than the aggregate outstanding Purchase Price for such Transaction, or (C) the aggregate Asset Value of all Purchased Mortgage
Loans for all such Transactions is less than the aggregate outstanding Purchase Price for such Transactions (in any such case, a “Margin Deficit”), then Buyer may, at its sole option and by notice to Seller (as such notice is more
particularly set forth below, a “Margin Call”), require Seller to either: 

  

	 	(i)	transfer to Buyer or its designee cash or, at Buyer’s sole option eligible Mortgage Loans approved by Buyer (“Additional Purchased Mortgage Loans”) so that (A) the individual Asset Value of
the Purchased Mortgage Loan, (B) the aggregate Asset Value of all Purchased Mortgage Loans subject to each Transaction, or (C) the aggregate Asset Value of all Mortgage Loans subject to 

  
 20 

 Transactions, as the case may be, including any such cash or Additional Purchased Mortgage Loans
tendered by the Seller, will thereupon equal or exceed the individual or aggregate outstanding Purchase Price(s) as applicable; or 
  

	 	(ii)	pay one or more Repurchase Prices in an amount sufficient to reduce the related Purchase Price so that the related Purchase Price (or the related aggregate Purchase Price) in an amount equal to or below the Asset Value
of the Purchased Mortgage Loan (or the aggregate Asset Value of the Purchased Mortgage Loans, as applicable). 

 If Buyer
delivers a Margin Call to Seller on or prior to 9:00 a.m. (Pacific time) on any Business Day, then Seller shall transfer cash or Additional Purchased Mortgage Loans, as applicable, to Buyer no later than 2:00 p.m. (Pacific time) that same day. If
Buyer delivers a Margin Call to Seller after 9:00 a.m. (Pacific time) on any Business Day, Seller shall be required to transfer cash or Additional Purchased Mortgage Loans no later than 2:00 p.m. (Pacific time) on the next subsequent Business Day.
Notice of a Margin Call may be provided by Buyer to Seller electronically or in writing, such as via electronic mail or posting such notice on Buyer’s customer website(s). 

 

	 	(c)	Buyer’s Discretion. Buyer’s election not to make a Margin Call at any time there is a Margin Deficit shall not in any way limit or impair its right to make a Margin Call at any time a Margin Deficit
exists. 

  

	 	(d)	Over/Under Account. Buyer may, in its sole and good faith discretion, withdraw from the Over/Under Account amounts equal to any Margin Deficit which is not otherwise satisfied by Seller within the time frames
provided in this Section 6.3. 

  

	 	(e)	Credit to Repurchase Price. Any cash transferred to Buyer pursuant to this Section 6.3 shall be credited to the Repurchase Price of the related Transaction(s). 

6.4 Custody of Mortgage Loan Documents. 
  

	 	(a)	Custodial Arrangements. Buyer may appoint any Person to act as the Custodian to hold possession of the Mortgage Loan Documents (or a portion thereof) and to take actions at the direction of Buyer. Seller hereby
consents to any and all such appointments and agrees to deliver the Mortgage Loan Documents to the Custodian upon the direction of Buyer. Seller further agrees that (i) the Custodian shall be exclusively the agent, bailee and/or custodian of
Buyer; (ii) receipt of the Mortgage Loan Documents by the Custodian shall be constructive receipt by Buyer of the Mortgage Loan Documents; (iii) Seller shall not have and shall not attempt to exercise any degree of control over the
Custodian or any Mortgage Loan Document held by the Custodian; and (iv) Buyer shall not be liable for any act or omission by the Custodian selected by Buyer with reasonable care. 

 

	 	(b)	Temporary Withdrawal of Mortgage Loan Documents for Correction. Buyer may, in its sole and good faith discretion, permit Seller to withdraw, for a period not to exceed ten (10) Business Days, specified
Mortgage Loan Documents for the purpose of correcting or completing such documents; provided, however, that unless otherwise agreed to by Buyer in writing, in no event shall Mortgage Loan Documents relating to more than fifteen (15) Purchased
Mortgage Loans be released at any one time. Notwithstanding the foregoing, Buyer shall be deemed to be in possession of any Mortgage Loan Documents released pursuant to this Section 6.4(b), and the interest of Buyer in the related
Purchased Mortgage Loan shall continue unimpaired until the Mortgage Loan Documents are returned to, or the proceeds thereof are received by, Buyer. 

  
 21 

	 	(c)	Delivery of Mortgage Loan Documents to Approved Investors. Provided that no Potential Default or Event of Default has occurred and is continuing, upon the written request of Seller, Buyer may, at its option and
in its sole and good faith discretion, deliver to an Approved Investor set forth in the related Purchase Commitment, or its custodian, the Mortgage Loan Documents relating to a specified Purchased Mortgage Loan. All such Purchased Mortgage Loans and
the related Mortgage Loan Documents shall at all times be covered by one or more Bailee Agreements, and Buyer or its designee will not release Mortgage Loan Documents to an Approved Investor unless Buyer or its Custodian has received a signed Bailee
Agreement from the Approved Investor. Notwithstanding the foregoing, Buyer shall be deemed to be in possession of any Mortgage Loan Documents released pursuant to this Section 6.4(c), and the interest of Buyer in the related Purchased
Mortgage Loan shall continue unimpaired until the Mortgage Loan Documents are returned to, or proceeds thereof are received by, Buyer. If the Approved Investor does not purchase a Purchased Mortgage Loan as contemplated by the related Purchase
Commitment, Seller shall, upon the request of Buyer, assist Buyer in the recovery of any Mortgage Loan Documents not returned by the Approved Investor to Buyer. 

  

	 	(d)	Delivery of Mortgage Loan Documents Relating to Mortgage-Backed Securities. Upon the written request of Seller, Buyer may, at its option and in its sole and good faith discretion, deliver to the certifying
custodian the Mortgage Loan Documents relating to those Purchased Mortgage Loans that will be pooled to support a Mortgage-Backed Security. All such Purchased Mortgage Loans and the related Mortgage Loan Documents shall at all times be covered by a
Bailee Agreement, and Buyer or its designee will not release Mortgage Loan Documents to a certifying custodian unless Buyer or its designee has received a signed tri-party custodial agreement from such custodian, in a form acceptable to Buyer. Buyer
shall have no obligation to release any Mortgage Loan Documents to any certifying custodian that will not sign a custodial agreement acceptable to Buyer. Notwithstanding the foregoing, Buyer shall be deemed to be in possession of any Mortgage Loan
Documents released pursuant to this Section 6.4(d), and the interest of Buyer in the related Purchased Mortgage Loan shall continue unimpaired until the Mortgage Loan Documents are returned to, or proceeds thereof are received by, Buyer.
Seller shall pay for all costs of the certifying custodian and use its best efforts to ensure that the issuer delivers the Mortgage-Backed Securities to the certifying custodian. 

6.5 Release of Mortgage Loan Documents. Provided that no Event of Default or Potential Default has occurred and is continuing, Seller may
repurchase a Purchased Mortgage Loan by either: 
  

	 	(a)	paying, or causing an Approved Investor to pay, to Buyer, subject to Sections 4.6 and 4.7 above, the Repurchase Price; or 

  

	 	(b)	transferring to Buyer additional Mortgage Loan(s) satisfactory to Buyer and/or cash, in aggregate amounts sufficient to cover the amount by which the aggregate amount of Transactions then outstanding hereunder (plus
accrued interest and accrued fees with respect thereto) exceeds the Asset Value of the existing Purchased Mortgage Loan(s), excluding the Purchased Mortgage Loan(s) to be released. 

  
 22 

 Upon receipt of the applicable amount, as set forth above, Buyer shall deliver or shall cause the
Custodian to deliver the related Mortgage Loan Documents to Seller or Seller’s designee, if such documents have not already been delivered pursuant to a Bailee Agreement. If such release gives rise to or perpetuates a Margin Deficit, Buyer
shall notify Seller of the amount thereof and Seller shall thereupon satisfy the Margin Call in the manner specified in Section 6.3(b). Buyer shall have no obligation to release a repurchased Purchased Mortgage Loan or terminate its
security interest in such Purchased Mortgage Loan until such Margin Call is satisfied. 
 6.6 True Sales; Repurchase Transactions. For the
avoidance of doubt, Buyer and Seller confirm that the Transactions contemplated by this Agreement are intended to be true sales and absolute assignments of the Purchased Mortgage Loans by Seller to Buyer, and not borrowings secured by the Purchased
Mortgage Loans. Title to all Purchased Mortgage Loans and related Purchased Assets shall pass to Buyer upon payment of the Purchase Price. Accordingly, beginning on the Purchase Date and prior to the Repurchase Date, Buyer may in its sole discretion
and without notice to Seller engage in repurchase transactions with respect to any or all of the Purchased Mortgage Loans or otherwise pledge, hypothecate, assign, transfer or convey any or all of the Purchased Mortgage Loans (such transactions,
“Repurchase Transactions”), provided, however, that to the extent Buyer engages in any Repurchase Transactions, it shall have reacquired title to the Purchased Mortgage Loans prior to the Repurchase Date. Seller shall not be
responsible for any additional obligations, costs or fees in connection with such Repurchase Transactions. Seller shall not take any action inconsistent with Buyer’s ownership of a Purchased Mortgage Loan and shall not claim any legal,
beneficial or other interest in such a Purchased Mortgage Loan other than the limited right and obligations to provide servicing of such Purchased Mortgage Loans where Buyer designates Seller as servicer as provided in Section 6.2. 

ARTICLE 7 
 CONDITIONS
PRECEDENT 
 7.1 Initial Transaction. As conditions precedent to Buyer considering whether to enter into the initial Transaction
hereunder: 
  

	 	(a)	Seller shall have delivered to Buyer, in form and substance satisfactory to Buyer: 

  

	 	(i)	this Agreement signed by Seller; 

  

	 	(ii)	the Transactions Terms Letter signed by Seller; 

  

	 	(iii)	an Electronic Tracking Agreement signed by Seller; 

  

	 	(iv)	[reserved]; 

  

	 	(v)	a Power of Attorney signed by Seller; 

  

	 	(vi)	a certified copy of Seller’s articles or certificate of incorporation and bylaws (or corresponding organizational documents if Seller is not a corporation) and, if required by Buyer, a certificate of good standing
issued by the appropriate official in Seller’s jurisdiction of organization, dated no less recently than one (1) month prior to the date hereof; 

  

	 	(vii)	a certificate of Seller’s corporate secretary, substantially in the form of Exhibit C hereto, dated as of the Effective Date, as to the incumbency and authenticity of the signatures of the officers of Seller
executing the Principal Agreements and the resolutions of the board of directors of Seller (or its equivalent governing body or Person), substantially in the form of Exhibit D hereto; 

  
 23 

	 	(viii)	independently audited financial statements of Seller (and its Subsidiaries, on a consolidated basis) for each of the two (2) fiscal years most recently ended (if available), containing a balance sheet and related
statements of income, stockholders’ equity and cash flows, all prepared in accordance with GAAP, applied on a basis consistent with prior periods, and otherwise acceptable to Buyer, together with an auditor’s opinion that is unqualified or
otherwise is consented to in writing by Buyer; 

  

	 	(ix)	if more than six (6) months has passed since the close of the most recently ended fiscal year, interim financial statements of Seller covering the period from the first day of the current fiscal year to the last
day of the most recently ended month; 

  

	 	(x)	[reserved]; 

  

	 	(xi)	copies of Seller’s errors and omissions insurance policy or mortgage impairment insurance policy and blanket bond coverage policy or certificates of insurance for such policies, all in form and content satisfactory
to Buyer, showing compliance by Seller with Section 9.9 below; 

  

	 	(xii)	[reserved]; 

  

	 	(xiii)	an Acknowledgement of Confidentiality of Password Agreement; 

  

	 	(xiv)	the initial Facility Fee, if applicable; 

  

	 	(xv)	a Servicer Notice, if applicable; 

  

	 	(xvi)	if so requested by Buyer, the Control Agreement in a form reasonably satisfactory to Buyer; 

  

	 	(xvii)	if required, a Servicing Agreement signed by the Servicer and Seller; 

  

	 	(xviii)	a copy of Seller’s underwriting guidelines for Mortgage Loans, as amended from time to time; and 

  

	 	(xix)	such other documents as Buyer or its counsel may reasonably request. 

  

	 	(b)	Buyer shall have determined that it has received satisfactory evidence that the appropriate Uniform Commercial Code Financial Statements (UCC-1) and/or such other instruments as may be necessary in order to create in
favor of Buyer, a perfected first-priority security interest in the Purchased Mortgage Loans and related Purchased Assets should any of the Transactions be deemed to be loans, and same shall have been duly executed and appropriately filed or
recorded in each office of each jurisdiction in which such filings and recordations are required to perfect such first-priority security interest. 

  
 24 

	 	(c)	Buyer shall have determined that it has satisfactorily completed its due diligence review of Seller’s operations, business, financial condition and underwriting and origination of Mortgage Loans. 

7.2 All Transactions. As conditions precedent to Buyer considering whether to enter into any Transaction hereunder, including the initial
Transaction: 
  

	 	(a)	Seller shall have delivered to Buyer, in form and substance satisfactory to Buyer and not later than the Transaction Request Deadline: 

 

	 	(i)	an Asset Data Record for the Purchased Mortgage Loan, which Asset Data Record may be an individual record or part of a group report and shall be authenticated by Seller with the PIN or the handwritten signature of an
authorized officer of Seller; 

  

	 	(ii)	the Mortgage Loan Documents relating to the Purchased Mortgage Loan, unless such Purchased Mortgage Loan is a Wet Mortgage Loan; 

  

	 	(iii)	a copy of the Purchase Commitment for the related Purchased Mortgage Loan, unless the Transactions Terms Letter states otherwise; 

  

	 	(iv)	[reserved]; 

  

	 	(v)	a schedule identifying each Mortgage Loan subject to the proposed Transaction as either a Safe Harbor Qualified Mortgage, a Rebuttable Presumption Qualified Mortgage, a Permitted Non-Qualified Mortgage Loan or a Bond
Loan – 1st Lien, as applicable; and 

  

	 	(vi)	such other documents pertaining to the Transaction as Buyer may reasonably request, from time to time. 

  

	 	(b)	an amount equal to the Haircut plus the minimum required balance, as set forth in Section 3.5(a), shall be on deposit in the Over/Under Account; 

 

	 	(c)	Seller shall have paid all Facility Fees and Unused Facility Fees that are due; 

  

	 	(d)	Seller shall have designated an Approved Payee, if applicable, to whom such funds shall be delivered; 

  

	 	(e)	the representations and warranties of Seller set forth in Article 8 hereof shall be true and correct in all material respects as if made on and as of the date of each Transaction. At the request of Buyer, Buyer
shall have received an officer’s certificate signed by a responsible officer of Seller certifying as to the truth and accuracy of same; 

  

	 	(f)	if required by Buyer, Seller shall have performed all agreements to be performed by it hereunder, and after giving effect to the requested Transaction, there shall exist no Event of Default or Potential Default
hereunder; and 

  

	 	(g)	no Potential Default, Event of Default or a Material and Adverse Change shall have occurred and be continuing. 

  
 25 

 For the avoidance of doubt, notwithstanding that foregoing conditions may be satisfied with
respect to any Transaction request, Buyer shall be under no obligation to enter into any Transaction and whether the Buyer enters into any Transaction shall be at the sole and good faith discretion of Buyer. 

7.3 [Reserved]. 
 7.4 Satisfaction of
Conditions. The entering into of any Transaction prior to or without the fulfillment by Seller of all the conditions precedent thereto, whether or not known to Buyer, shall not constitute a waiver by Buyer of the requirements that all
conditions, including the non-performed conditions, shall be required to be satisfied with respect to all Transactions. All conditions precedent hereunder are imposed solely and exclusively for the benefit of Buyer and may be freely waived or
modified in whole or in part by Buyer. Any waiver or modification asserted by Seller to have been agreed by Buyer must be in writing. Buyer shall not be liable to Seller for any costs, losses or damages arising from Buyer’s determination that
Seller has not satisfactorily complied with any applicable condition precedent. 
 ARTICLE 8 

REPRESENTATIONS AND WARRANTIES 
 8.1
Representations and Warranties Concerning Seller. Seller represents and warrants to and covenants with Buyer that the representations and warranties on Exhibit L hereto are true and correct as of the Effective Date through and
until the date on which all obligations of Seller under this Agreement are fully satisfied. 
 8.2 Representations and Warranties Concerning Purchased
Assets. Seller represents and warrants to and covenants with Buyer that, as of the related Purchase Date through and until the date on which such Purchased Mortgage Loan is repurchased by Seller, (a) each Purchased Mortgage Loan is an
Eligible Mortgage Loan, and (b) the representations and warranties contained on Exhibit L hereto are true and correct with respect to each Purchased Mortgage Loan. 

8.3 Continuing Representations and Warranties. By submitting an Asset Data Record hereunder, Seller shall be deemed to have represented and
warranted the truthfulness and completeness of the representations and warranties set forth in Exhibit L hereto. 
 8.4 Amendment of
Representations and Warranties. From time to time as determined necessary by Buyer, Buyer may amend the representations and warranties set forth in Exhibit L hereto. Any such amendment shall not apply to Transactions entered into
prior to the effective date of the amendment and in no event shall the amendment apply to any Transaction on a retroactive basis. 

ARTICLE 9 
 AFFIRMATIVE
COVENANTS 
 Seller hereby covenants and agrees with Buyer that during the term of this Agreement and for so long as there remain any obligations of
Seller to be paid or performed under the Principal Agreements: 
 9.1 Financial Statements and Other Reports. 

 

	 	(a)	 Interim Statements. Seller shall deliver to Buyer financial statements of Seller, including statements of income and changes in
shareholders’ equity for the period from the beginning of such fiscal year to the end of such month or quarter, within the time frame 

  
 26 

	 	
required in the Transactions Terms Letter, and the related balance sheet as of the end of such month or quarter, within the time frame required in the Transactions Terms Letter, all in reasonable
detail and certified by the chief financial officer of Seller, subject, however, to year-end audit adjustments; 

  

	 	(b)	Annual Statements. Seller shall deliver to Buyer, within the time frame required in the Transactions Terms Letter, audited financial statements of Seller, including statements of income and changes in
shareholders’ equity for such fiscal year and the related balance sheet as at the end of such fiscal year, all in reasonable detail and accompanied by an unqualified opinion of a certified public accounting firm reasonably satisfactory to Buyer
including a management representation letter signed by the chief financial officer of Seller stating that the financial statements fairly present the financial condition and results of operations of Seller as of the end of, and for, such year;

  

	 	(c)	Officer’s Certificate. Together with the financial statements required to be delivered pursuant to Sections 9.1(a) and (b), Seller shall deliver to Buyer an officer’s certificate substantially in
a form to be provided by Buyer; 

  

	 	(d)	Audit Reports. Promptly upon receipt thereof, Seller shall deliver to Buyer a copy of each report submitted to Seller by its independent public accountant in connection with any annual, interim or special audit
of Seller; 

  

	 	(e)	Hedging Reports. Seller shall deliver to Buyer, or cause to be delivered to Buyer, not later than 10:00 a.m. (Pacific time) on each Monday, or Tuesday if Monday is not a Business Day, or as reasonably requested
by Buyer, a reconciliation report, in a form reasonably satisfactory to Buyer, including, without limitation, a report of all outstanding Transactions and their related Purchase Commitments, availability under unused Purchase Commitments and all
amounts outstanding and available under other warehouse lines of credit, repurchase agreements and similar credit facilities. To the extent Seller retains any Person(s) to perform hedging services on behalf of Seller, Seller hereby grants Buyer
authority to contact, request and receive hedging reports directly from such Person(s) at no cost to Buyer. Further, Seller shall instruct such Person(s), upon reasonable notice from Buyer and during normal business hours, to answer candidly and
fully, at no cost to Buyer, any and all questions that Buyer may address to them in reference to the hedging reports of Seller. Seller may have its representatives in attendance at any meetings between Buyer and such Person(s) held in accordance
with this authorization; and 

  

	 	(f)	Reports and Information Regarding Purchased Mortgage Loans. To the extent not prohibited by law or regulation, Seller shall deliver to Buyer, with reasonable promptness, upon Buyer’s request: (i) copies
of any reports related to the Purchased Mortgage Loans, (ii) copies of all documentation in connection with the underwriting and origination of any Purchased Mortgage Loan that evidences compliance with, (x) with respect to all Purchased
Mortgage Loans other than Bond Loans – 1st Liens, the Ability to Repay Rule and, (y) with respect to all Purchased Mortgage Loans other than Bond Loans – 1st Liens and Permitted Non-Qualified Mortgage Loans, the QM Rule, as applicable, and (iii) any other information in Seller’s possession related to the Purchased Mortgage Loans.

  
 27 

	 	(g)	Other Reports. As may be reasonably requested by Buyer from time to time, Seller shall deliver to Buyer, to the extent not prohibited by law or regulation, within thirty (30) days of filing or receipt
(i) copies of all regular or periodic financial or other reports, if any, that Seller files with any governmental, regulatory or other agency and (ii) copies of all audits, examinations and reports concerning the operations of Seller from
any Approved Investor, Insurer or licensing authority. Seller shall also deliver to Buyer, with reasonable promptness, such further information reasonably related to the business, operations, properties or financial condition of Seller, in such
detail and at such times as Buyer, in its sole and good faith discretion, may request. Seller understands and agrees that all reports and information provided to Buyer by or relating to Seller may be disclosed to Buyer’s Affiliates.

 9.2 Inspection of Properties and Books. As required by applicable law and prudent mortgage banking practices, Seller shall
keep accurate and complete records of the Purchased Mortgage Loans. At no cost to Buyer, Seller shall permit authorized representatives of Buyer to discuss the business, operations, assets and financial condition of Seller with its officers and
employees and to examine its books of account and make copies and/or extracts thereof, upon reasonable notice to Seller at Seller’s place of business during normal business hours. Further, Seller will provide its accountants with a copy of this
Agreement promptly after the execution hereof and will instruct its accountants to answer candidly and fully, at no cost to Buyer, any and all questions that any authorized representative of Buyer may address to them in reference to the financial
condition or affairs of Seller. Seller may have its representatives in attendance at any meetings between the officers or other representatives of Buyer and Seller’s accountants held in accordance with this authorization. 

9.3 Notice. Seller shall give Buyer prompt written notice, in reasonable detail, of: 

 

	 	(a)	[reserved]; 

  

	 	(b)	any action, suit or proceeding instituted by or against Seller in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic), or any such action, suit or
proceeding threatened against Seller, in any case, if such action, suit or proceeding, or any such action, suit or proceeding threatened against Seller, involves a potential liability, on an individual or aggregate basis, equal to or greater than
ten percent (10%) of Seller’s Tangible Net Worth, or questions or challenges the validity or enforceability of any of the Principal Agreements or questions or challenges compliance of any Purchased Mortgage Loan with, (x) with respect
to any Purchased Mortgage Loan other than Bond Loans – 1st Liens, the Ability to Repay Rule or (y) with respect to any Purchased Mortgage Loan other than Bond Loans – 1st Liens and Permitted Non-Qualified Mortgage Loans, the QM Rule; 

  

	 	(c)	the filing, recording or assessment of any federal, state or local tax lien against it, or any of its assets that would have a material adverse effect on the rights and remedies of Buyer under any of the Principal
Agreements; 

  

	 	(d)	the occurrence of any Potential Default or Event of Default; 

  

	 	(e)	the actual or threatened suspension, revocation or termination of Seller’s licensing or eligibility, in any respect, as an approved, licensed lender, seller, mortgagee or servicer; 

 

	 	(f)	the suspension, revocation or termination of any existing and material credit or investor relationship to facilitate the sale and/or origination of residential mortgage loans; 

  
 28 

	 	(g)	(x) any demand(s), whether on an individual or aggregate basis, by an Approved Investor or Insurer for (i) the repurchase of a mortgage loan(s) if the unpaid principal balance of the mortgage loan(s) subject
to such demand(s) is equal to or greater than two hundred and fifty thousand ($250,000) dollars or (ii) indemnification if the demanded indemnification amount(s) is equal to or greater than fifty thousand ($50,000) dollars, or (y) the
rejection of a Purchased Mortgage Loan for purchase by an Approved Investor or other third party purchaser or the exclusion of a Purchased Mortgage Loan from a securitization pool due to the objection of any party to such securitization, together
with a report by such purchaser or other party and/or any other information received by the Seller detailing the rationale for such rejection or exclusion; provided that notice and the required report and information shall be delivered to Buyer not
more than two (2) Business Days following the occurrence of such rejection or exclusion; 

  

	 	(h)	any potential or existing Purchased Mortgage Loan where a director, officer, shareholder, member, partner or owner of Seller is the Mortgagor or guarantor or where the related Mortgaged Property is being sold by a
director, officer, shareholder, member, partner or owner of Seller if (i) such potential or existing Purchased Mortgage Loan is not originated on an arms-length basis or in strict compliance with Seller’s underwriting guidelines or
(ii) the sale of such related Mortgage Property is not made on an arms-length basis; 

  

	 	(i)	any Purchased Mortgage Loan ceases to be an eligible Purchased Asset for the security of the Transactions; 

  

	 	(j)	any Approved Investor that threatens in writing to set-off amounts owed by Seller to such Approved Investor against the purchase proceeds owed by the Approved Investor to Seller for the Purchased Mortgage Loans
(excluding amounts owed by Seller to the Approved Investor which are directly related to the Purchased Mortgage Loans and which are allowed to be set-off by the Approved Investor pursuant to the Bailee Agreement); 

 

	 	(k)	any change in the Executive Management of Seller; 

  

	 	(l)	any other action, event or condition of any nature that may lead to or result in a material adverse effect on the business, operations, assets or financial condition of Seller or that, without notice or lapse of time or
both, would constitute a default under any agreement, instrument or indenture to which Seller is a party or to which Seller, its properties or assets may be subject; 

 

	 	(m)	any (i) change to the location of its chief executive office/chief place of business from that specified in Section 8.1(t), (ii) change in the name, identity or corporate structure (or the
equivalent) or change in the location where Seller maintains its records with respect to the Purchased Assets, or (iii) reincorporation or reorganization of Seller under the laws of another jurisdiction; and 

 

	 	(n)	any change to the date on which Seller’s fiscal year begins from Seller’s current fiscal year beginning date. 

9.4 [Reserved]. 

  
 29 

 9.5 Servicing of Mortgage Loans. Subject to Section 6.2 above, Seller shall subservice
all Purchased Mortgage Loans at Seller’s expense and without charge of any kind to Buyer. Seller may delegate its obligations hereunder to subservice the Purchased Mortgage Loans (subject to Section 6.2) to an independent servicer
provided that such independent subservicer and the related Servicing Agreement has been approved by Buyer and such independent subservicer has executed a Servicing Agreement with Buyer. The failure of Seller to obtain the prior approval of Buyer
regarding the delegation of its subservicing obligations to an independent subservicer and/or the failure of the independent subservicer to execute and return to Buyer a Servicing Agreement shall be considered an Event of Default hereunder. In any
event, Seller or its delegate shall subservice such Purchased Mortgage Loans with the degree of care and in accordance with the subservicing standards generally prevailing in the industry, including those required by Fannie Mae, Freddie Mac and
Ginnie Mae. 
 9.6 Evidence of Purchased Assets. Seller shall indicate on its computer records that each Purchased Mortgage Loan has been
included in the Purchased Assets and, at the request of Buyer, place on each of its written records pertaining to the Purchased Mortgage Loans a legend, in form and content satisfactory to Buyer, indicating that such Purchased Mortgage Loan has been
sold to Buyer. 
 9.7 Protection of Purchased Mortgage Loans. Seller shall allow Buyer (a) to inspect any Mortgaged Property relating to
a Purchased Mortgage Loan; (b) to appear in or intervene in any proceeding or matter affecting any Purchased Mortgage Loan or other Purchased Assets or the value thereof; (c) to initiate, commence, appear in and defend any foreclosure,
action, bankruptcy or proceeding which could affect Buyer’s ownership or security of the Purchased Assets or the value thereof, or the rights and powers of Buyer; (d) to contest by litigation or otherwise any lien asserted against the
Purchased Mortgage Loans or other Purchased Assets or against the related Mortgaged Property, the improvements, or the personal property identified therein; and/or (e) to make payments on account of such encumbrances, charges, or liens and to
service any Purchased Mortgage Loan and take any action it may deem appropriate to collect any Purchased Assets or any part thereof or to enforce any rights with respect thereto. All reasonable costs and expenses, including reasonable
attorneys’ fees (including, but not limited to, those incurred on appeal), that Buyer may incur with respect to any of the foregoing and any expenditures it may make to protect or preserve the Purchased Assets or the rights of Buyer, shall be
for the account of Seller. Seller shall repay the same to Buyer upon demand with interest, at the Default Rate, from the date any such expenditure shall have been made until it is repaid. 

9.8 Further Assurances. Seller shall, at its expense, promptly procure, execute and deliver to Buyer, upon request, all such other and further
documents, agreements and instruments in compliance with or accomplishment of the covenants and agreements of Seller in this Agreement. 
 9.9
Fidelity Bonds and Insurance. Seller shall maintain an insurance policy, in a form and substance satisfactory to Buyer, covering against loss or damage relating to or resulting from any breach of fidelity by Seller, or any officer,
director, employee or agent of Seller, any loss or destruction of documents (whether written or electronic), fraud, theft, misappropriation and errors and omissions, such that Buyer shall have the right to pursue any claim for coverage available to
any named insured to the full extent allowed by law. This policy shall name Buyer as a loss payee with an unlimited right of action and shall provide coverage in an amount as required by the Fannie Mae Guide. Seller shall provide 30 days prior
written notice to Buyer of any material change to such policy. 
 9.10 Wet Mortgage Loans. In connection with the funding of each Wet Mortgage
Loan, Seller shall provide to the applicable Closing Agent, in addition to the Irrevocable Closing Instructions, final closing instructions, which shall, without limitation, make reference to the Irrevocable Closing Instructions and stipulate the
title insurance company that will be issuing the applicable title insurance policy and Closing Protection Letter; provided, however, that Seller shall not use these final closing instructions to modify or

  
 30 

 
attempt to modify the terms of the Irrevocable Closing Instructions unless such modifications are agreed to in advance and in writing by Buyer. Seller shall not otherwise modify or attempt to
modify the terms of the Irrevocable Closing Instructions without Buyer’s prior written approval. If the Closing Agent is not a title insurance company, Seller shall also (a) confirm that the closing is covered by a blanket Closing
Protection Letter issued to Buyer by the title insurance company stipulated in the final closing instructions; or (b) provide to Buyer (1) a Closing Protection Letter covering the closing issued to Seller by the title insurance company
stipulated in the final closing instructions and (2) an Assignment of Closing Protection Letter relating to the above referenced Closing Protection Letter naming Buyer as the assignee. 

ARTICLE 10 
 NEGATIVE
COVENANTS 
 Seller hereby covenants and agrees with Buyer that during the term of this Agreement and for so long as there remain any obligations of
Seller to be paid or performed under this Agreement, Seller shall comply with the following: 
 10.1 [Reserved]. 

10.2 Debt and Subordinated Debt. Seller shall not, either directly or indirectly, without the prior written consent of Buyer, pay any Debt or
Subordinated Debt if such payment shall cause a Potential Default or Event of Default. Further, if a Potential Default or an Event of Default shall have occurred and for as long as such is occurring, Seller shall not, either directly or indirectly,
without the prior written consent of Buyer, make any payment of any kind thereafter on such Debt or Subordinated Debt until all obligations of Seller hereunder have been paid and performed in full. 

10.3 Loss of Eligibility. Seller shall not, either directly or indirectly, without the prior written consent of Buyer, take, or fail to take,
any action that would cause Seller to lose all or any part of its status as an eligible lender, seller, mortgagee or servicer or willfully terminate its status as an eligible lender, seller, mortgagee or servicer without forty-five (45) days
prior written notice to Buyer. 
 10.4 Financial Covenants and Ratios. Seller shall at all times comply with any financial covenants and/or
financial ratios set forth in the Transactions Terms Letter. 
 10.5 Loans to Officers, Employees and Shareholders. Seller shall not, either
directly or indirectly, without the prior written consent of Buyer, make any personal loans or advances to any officers, employees, shareholders, members, partners or owners of Seller in an aggregate amount exceeding ten percent (10%) of
Seller’s Tangible Net Worth; provided, however, that Seller shall be entitled to make a personal loan or advance to a majority shareholder, member, partner or owner of Seller without the prior written consent of Buyer provided that (i) a
Potential Default or an Event of Default is not existing and will not occur as a result thereof and (ii) such loan or advance is clearly reflected on Seller’s financial reports provided to Buyer. 

10.6 Liens on Purchased Mortgage Loans and Purchased Assets; Liens on Other Assets. Seller acknowledges that with each Transaction it shall have
sold the Purchased Mortgage Loans and related Purchased Assets and shall have granted to Buyer a first priority security interest in such assets in the event such Transaction is deemed a loan. Accordingly, Seller shall not create, incur, assume or
suffer to exist any lien upon the Purchased Mortgage Loans or the Purchased Assets, other than as granted to Buyer herein. Further, Seller shall not, or create, incur, assume or suffer any lien upon any of its other property and assets without the
prior written consent of Buyer; provided, however, that Seller may, without the prior written consent of Buyer, and provided that a Potential Default or an Event of Default is 

  
 31 

 not existing or will not occur as a result thereof, incur, assume or suffer to exist liens on its other property
and assets for the following purposes (a) liens for taxes not yet due or taxes being contested in good faith discretion and by appropriate proceedings for which adequate reserves have been established; (b) liens in favor of Fannie Mae,
Ginnie Mae or Freddie Mac on the right of Seller to service Mortgage Loans sold to the Agencies; or (c) liens incurred by Seller in the ordinary course of Seller’s mortgage banking business including, without limitation, master repurchase
agreements, warehouse lines of credit, and securitization. 
 10.7 Transactions with Affiliates. Seller shall not, directly or indirectly,
enter into any transaction with its Affiliates, if any, without the prior written consent of Buyer, including, without limitation, (a) making any loan, advance, extension of credit or capital contribution to an Affiliate, (b) transferring,
selling, pledging, assigning or otherwise disposing of any of its assets to or on behalf of an Affiliate, (c) purchasing or acquiring assets from an Affiliate, or (d) paying management fees to or on behalf of an Affiliate; provided,
however, that Seller may, without the prior written consent of Buyer, and provided that a Potential Default or an Event of Default is not existing and will not occur as a result thereof, engage in a transaction(s) with any or all of its Affiliates
if (i) such transaction is in the ordinary course of Seller’s mortgage banking business and (ii) such transaction is upon fair and reasonable terms no less favorable to Seller had Seller entered into a comparable arm length’s
transaction with a Person which is not an Affiliate. 
 10.8 Consolidation, Merger, Sale of Assets and Change of Control. Seller shall not
(a) wind up, liquidate or dissolve its affairs; (b) enter into any transaction of merger or consolidation with any Person; (c) convey, sell, lease or otherwise dispose of, or agree to do any of the foregoing at any future time, all or
any part of its property or assets, or (d) allow a Change of Control to occur with respect to Seller, without prior written consent of Buyer; provided, however, that Seller may, without the prior written consent of Buyer, and provided that a
Potential Default or an Event of Default is not existing and will not occur as a result thereof: (i) merge or consolidate with any Person if Seller is the surviving and controlling entity and (ii) in the ordinary course of Seller’s
mortgage banking business, sell equipment that is uneconomic or obsolete and acquire Mortgage Loans for resale and sell Mortgage Loans. 
 10.9
Payment of Dividends and Retirement of Stock. Seller shall not, without the prior written consent of Buyer, (a) declare or pay any dividends upon its shares of stock now or hereafter outstanding, except dividends payable in the
capital stock of Seller, or make any distribution of assets to its shareholders, whether in cash, property or securities, or (b) acquire, purchase, redeem or retire shares of its capital stock now or hereafter outstanding for value, provided
however, that Seller may pay dividends as set forth within the Transactions Terms Letter. 
 10.10 Purchased Assets. Seller shall not
(a) attempt to resell, reassign, retransfer or otherwise dispose of, or grant any option with respect to, or pledge or otherwise encumber (except pursuant to this Agreement) any of the Purchased Mortgage Loans or other Purchased Assets or any
interest therein, or without prior written consent of Buyer (b) amend or modify, or waive any of the terms and conditions of, or settle or compromise any claim in respect of, any Purchased Mortgage Loan. 

10.11 Secondary Marketing, Underwriting, Third Party Origination and Interest Rate Risk Management Practices. Seller shall not, without prior
written notice to Buyer, change in any material respect any secondary marketing, underwriting, third party origination and interest rate risk management practices of Seller that exist as of the Effective Date. By way of example but not limitation,
any change to Seller’s hedging strategy and any change to add a new line of Mortgage Loan products shall be considered material changes subject to prior written notice to Buyer. It shall be deemed an Event of Default hereunder if Seller changes
any of the foregoing practices without having delivered such prior written notice to Buyer. 

  
 32 

 ARTICLE 11 

DEFAULTS AND REMEDIES 
 11.1 Events
of Default. The occurrence of any of the following conditions or events shall be an Event of Default: 
  

	 	(a)	failure of Seller to (A)(i) repurchase the Purchased Mortgage Loans on the applicable Repurchase Date, (ii) repurchase the Purchased Mortgage Loans pursuant to Section 3.9, or (iii) perform its
obligations under Section 6.3(b), in each such case, as of the date such obligation is required to be performed, or (B) failure of Seller to pay any other amount due under the Principal Agreements within two (2) Business Days
following the applicable due date; 

  

	 	(b)	(i) Seller or any Subsidiary or Affiliate of Seller shall default under, or fail to perform as required under, or shall otherwise breach the terms of any loan agreement, note, mortgage, security agreement,
indenture, guaranty, instrument, contract or other agreement between Seller or such other entity, on the one hand, and Buyer or any of Buyer’s Affiliates on the other; or (ii) Seller or any Subsidiary or Affiliate of Seller shall default
under, or fail to perform as required under, the terms of any repurchase agreement, loan and security agreement or similar credit facility or agreement for borrowed funds or any other material agreement entered into by Seller or such other entity
and any third party, which default or failure entitles any party to require acceleration or prepayment of any indebtedness thereunder or shall otherwise fail to pay a matured Debt obligation in excess of $5,000,000; 

 

	 	(c)	[reserved]; 

  

	 	(d)	[reserved]; 

  

	 	(e)	any of Seller’s representations or warranties made in Section 8.1 and/or Section 8.2 or in any statement or certificate at any time given by Seller in writing pursuant hereto or in
connection herewith shall be materially false or misleading in any respect on the date as of which made and such occurrence shall not have been remedied within three (3) Business Days after receipt of notice from Buyer of such occurrence;

  

	 	(f)	the failure of Seller to perform, comply with or observe any term, covenant or agreement applicable to Seller as contained in Articles 9 and 10 of this Agreement, irrespective of any cure period;

  

	 	(g)	the failure of Seller to perform, comply with or observe any other term, covenant or agreement applicable to Seller as contained in this Agreement and such occurrence shall not have been remedied within thirty
(30) days after receipt of notice from Buyer of such occurrence; 

  

	 	(h)	an Insolvency Event shall have occurred with respect to Seller or any of their respective Affiliates or Subsidiaries; or Seller shall admit in writing its inability to, or intention not to, perform any of its
obligations under this Agreement or any of the other Principal Agreements; or Buyer shall have determined in good faith that Seller is unable to meet its financial commitments as they come due; 

  
 33 

	 	(i)	one or more judgments or decrees shall be entered against Seller involving a liability of five million ($5,000,000) dollars or more, and all such judgments or decrees shall not have been vacated, discharged, stayed or
bonded pending appeal within thirty (30) days after entry thereof; 

  

	 	(j)	any Plan maintained by Seller or any subsidiary of Seller shall be terminated within the meaning of Title IV of ERISA or a trustee shall be appointed by an appropriate United States District Court to administer any
Plan, or the Pension Benefit Guaranty Corporation (or any successor thereto) shall institute proceedings to terminate any Plan or to appoint a trustee to administer any Plan if as of the date thereof Seller’s liability or any such
subsidiary’s liability (after giving effect to the tax consequences thereof) to the Pension Benefit Guaranty Corporation (or any successor thereto) for unfunded guaranteed vested benefits under the Plan exceeds the then current value of assets
accumulated in such Plan by more than fifty thousand ($50,000) dollars (or in the case of a termination involving Seller as a “substantial employer” (as defined in Section 4001(a)(2) of ERISA) the withdrawing employer’s
proportionate share of such excess shall exceed such amount); 

  

	 	(k)	Seller as employer under a Plan that is a multiemployer plan shall have made a complete or partial withdrawal from such Plan and the plan sponsor of such Plan shall have notified such withdrawing employer that such
employer has incurred a withdrawal liability in an annual amount exceeding fifty thousand ($50,000) dollars; 

  

	 	(l)	Seller shall purport to disavow its obligations hereunder or shall contest the validity or enforceability of the Principal Agreements or Buyer’s interest in any Purchased Mortgage Loan or other Purchased Assets;

  

	 	(m)	[reserved]; 

  

	 	(n)	a Material and Adverse Change shall occur; 

  

	 	(o)	[reserved]; 

  

	 	(p)	any Principal Agreement shall for whatever reason (including an event of default thereunder) be terminated, without the consent of Buyer (other than, with respect to the Custodial Agreement, due to the resignation of
the Custodian for reasons other than a breach by Seller of the Custodial Agreement), or this Agreement shall for any reason cease to create a valid, first priority security interest or ownership interest upon transfer in any of the Purchased Assets;

  

	 	(q)	a breach of any of Seller’s or Servicer’s subservicing obligations; 

  

	 	(r)	if Seller is a member of MERS, Seller’s membership in MERS is terminated for any reason and such termination shall continue uncured or unremedied for five (5) Business Days; 

 

	 	(s)	failure of Seller to transfer the Purchased Assets to Buyer on the applicable Purchase Date (provided Buyer has tendered the related Purchase Price); 

 

	 	(t)	a default shall occur and be continuing beyond the expiration of any applicable grace period under any other Principal Agreement; 

  
 34 

	 	(u)	any Governmental Authority or any person, agency or entity acting or purporting to act under governmental authority shall have taken any action to (i) condemn, seize or appropriate, or to assume custody or control
of, all or any substantial part of the property or assets of Seller or any its Affiliates or Subsidiaries; (ii) displace the management of Seller or any of its Affiliates or Subsidiaries or to curtail its authority in the conduct of their
respective business; or (iii) to remove, limit or restrict the approval of Seller or any of its Affiliates or Subsidiaries as an issuer, buyer or a seller/servicer of Mortgage Loans or securities backed thereby, and any such action provided for
in this subsection (t) shall not have been discontinued or stayed within thirty (30) days; 

  

	 	(v)	a Change of Control shall occur with respect to Seller; or 

  

	 	(w)	Seller’s audited financial statements or notes thereto or other opinions or conclusions stated therein shall be qualified or limited by reference to the status of Seller as a “going concern” or reference
of similar import. 

 With respect to any Event of Default which requires a determination to be made as to whether such Event of Default has
occurred, such determination shall be made in Buyer’s sole and good faith discretion and Seller hereby agrees to be bound by and comply with any such determination by Buyer. An Event of Default shall be deemed to be continuing unless expressly
waived by Buyer in writing. 
 11.2 Remedies. Upon the occurrence of an Event of Default, Buyer may, by notice to Seller, declare all or any
portion of the Repurchase Prices related to the outstanding Transactions to be immediately due and payable whereupon the same shall become immediately due and payable, and the obligation of Buyer to enter into Transactions shall thereupon terminate.
Further, it is understood and agreed that upon the occurrence of an Event of Default, Seller shall strictly comply with the negative covenants contained in Article 10 hereunder and in no event shall Seller declare and pay any dividends, incur
additional Debt or Subordinated Debt, make payments on existing Debt or Subordinated Debt or otherwise distribute or transfer any of Seller’s property and assets to any Person without the prior written consent of Buyer; provided, however, that
for as long as such Event of Default is occurring, Seller may incur and pay trade Debt that is, or was, incurred in the ordinary course of business of Seller’s mortgage banking business. Upon the occurrence of any Event of Default, Buyer may
also: 
  

	 	(a)	enter the office(s) of Seller and take possession of any of the Purchased Assets including any records that pertain to the Purchased Assets; 

 

	 	(b)	communicate with and notify Mortgagors of the Purchased Mortgage Loans and obligors under other Purchased Assets or on any portion thereof, whether such communications and notifications are in verbal, written or
electronic form, including, without limitation, communications and notifications that the Purchased Assets have been assigned to Buyer and that all payments thereon are to be made directly to Buyer or its designee; settle compromise, or release, in
whole or in part, any amounts owing on the Purchased Mortgage Loans or other Purchased Assets or any portion of the Purchased Assets, on terms acceptable to Buyer; enforce payment and prosecute any action or proceeding with respect to any and all
Purchased Assets; and where any Purchased Mortgage Loans or other Purchased Assets is in default, foreclose upon and enforce security interests in, such Purchased Assets by any available judicial procedure or without judicial process and sell
property acquired as a result of any such foreclosure; 

  
 35 

	 	(c)	collect payments from Mortgagors and/or assume servicing of, or contract with a third party to subservice, any or all Purchased Mortgage Loans requiring servicing and/or perform any obligations required in connection
with Purchase Commitments, such third party’s fees to be paid by Seller. In connection with collecting payments from Mortgagors and/or assuming servicing of any or all Purchased Mortgage Loans, Buyer may take possession of and open any mail
addressed to Seller, remove, collect and apply all payments for Seller, sign Seller’s name to any receipts, checks, notes, agreements or other instruments or letters or appoint an agent to exercise and perform any of these rights. If Buyer so
requests, Seller shall promptly forward to Buyer or its designee, all further mail and all “trailing” documents, such as title insurance policies, deeds of trust, and other documents, and all loan payment histories, both in paper and
electronic format, in each case, as same relate to the Purchased Mortgage Loans; 

  

	 	(d)	proceed against Seller under this Agreement; and/or 

  

	 	(e)	pursue any rights and/or remedies available at law or in equity against Seller. 

 11.3
[Reserved]. 
 11.4 Sale of Purchased Assets. Following an Event of Default, Buyer may securitize or otherwise sell the
Purchased Assets with no obligation to reacquire title as provided in Section 6.6 and Buyer shall incur no liability as a result of such transaction. For the avoidance of doubt, Buyer may sell the Purchased Assets as part of a pool
comprised of, all or part of, the Purchased Assets and other mortgage loans owned by Buyer; in such instance, the value of the Purchased Assets shall be determined on a pro rata basis. Seller hereby waives any claims it may have against Buyer
arising by reason of the fact that the price at which the Purchased Assets may have been sold at such private sale was less than the price which might have been obtained at a public sale or was less than the aggregate Repurchase Price amount of the
outstanding Transactions, even if Buyer accepts the first offer received and does not offer the Purchased Assets, or any part thereof, to more than one offeree. 

11.5 No Obligation to Pursue Remedy. Seller waives any right to require Buyer to (a) proceed against any Person, (b) proceed against
or exhaust all or any of the Purchased Assets or pursue its rights and remedies as against the Purchased Assets in any particular order, or (c) pursue any other remedy in its power. Buyer shall not be required to take any steps necessary to
preserve any rights of Seller against holders of mortgages prior in lien to the lien of any Purchased Mortgage Loan included in the Purchased Assets or to preserve rights against prior parties. No failure on the part of Buyer to exercise, and no
delay in exercising, any right, power or remedy provided hereunder, at law or in equity shall operate as a waiver thereof; nor shall any single or partial exercise by Buyer of any right, power or remedy provided hereunder, at law or in equity
preclude any other or further exercise thereof or the exercise of any other right, power or remedy. Without intending to limit the foregoing, all defenses based on the statute of limitations are hereby waived by Seller. The remedies herein provided
are cumulative and are not exclusive of any remedies provided at law or in equity. 
 11.6 Reimbursement of Costs and Expenses. Buyer may, but
shall not be obligated to, advance any sums or do any act or thing necessary to uphold and enforce the lien and priority of, or the security intended to be afforded by, any Purchased Mortgage Loan, including, without limitation, payment of
delinquent taxes or assessments and insurance premiums. All advances, charges, reasonable costs and expenses, including reasonable attorneys’ fees and disbursements, incurred or paid by Buyer in exercising any right, power or remedy conferred
by this Agreement, or in the enforcement hereof, together with interest thereon, at the Default Rate, from the time of payment until repaid, shall become a part of the Repurchase Price. 

  
 36 

 11.7 Application of Proceeds. The proceeds of any sale or other enforcement of Buyer’s
interest in all or any part of the Purchased Assets shall be applied by Buyer: 
  

	 	(a)	first, to the payment of the costs and expenses of such sale or enforcement, including reasonable compensation to Buyer’s agents and counsel, and all expenses, liabilities and advances made or incurred by or
on behalf of Buyer in connection therewith; 

  

	 	(b)	second, to the payment of any other amounts due under this Agreement other than the aggregate Repurchase Price; 

  

	 	(c)	third, to the payment of the aggregate Repurchase Price; 

  

	 	(d)	fourth, to the payment to Seller, or to its successors or assigns, or as a court of competent jurisdiction may direct, of any surplus then remaining from such proceeds. If the proceeds of any such sale are
insufficient to cover the costs and expenses of such sale, as aforesaid, and the payment in full of the aggregate Repurchase Price and all other amounts due hereunder, Seller shall remain liable for any deficiency. 

11.8 Rights of Set-Off. Buyer shall have the following rights of set-off: 

 

	 	(a)	If Seller shall default in the payment or performance of any of its obligations under this Agreement, Buyer shall have the right, at any time, and from time to time, without notice, to set-off claims and to appropriate
or apply any and all deposits of money or property or any other indebtedness at any time held or owing by Buyer to or for the credit of the account of Seller against and on account of the obligations and liabilities of Seller under this Agreement,
irrespective of whether or not Buyer shall have made any demand hereunder and whether or not said obligations and liabilities shall have become due; provided, however, that the aforesaid right to set-off shall not apply to any deposits of escrow
monies being held on behalf of the Mortgagors related to the Purchased Mortgage Loans or other third parties. Without limiting the generality of the foregoing, Buyer shall be entitled to set-off claims and apply property held by Buyer with respect
to any Transaction against obligations and liabilities owed by Seller to Buyer with respect to any other Transaction. Buyer may set off all other sums or obligations owed by Buyer to Seller against all of Seller’s obligations to Buyer, whether
under this Agreement, under a Transaction or under any other agreement between the parties, or otherwise, whether or not such obligations are then due, without prejudice to Buyer’s right to recover any deficiency. 

 

	 	(b)	 In addition to the rights in subsection (a), Buyer and its Affiliates (collectively, “Bank of America Related Entities”), shall have
the right to set-off and to appropriate or apply any and all deposits of money or property or any other indebtedness at any time held or owing by the Bank of America Related Entity to or for the credit of the account of Seller and its Affiliates
against and on account of the obligations of Seller under any agreement(s) between Seller and/or its Affiliates, on the one hand, and the Bank of America Related Entity, on the other hand, irrespective of whether or not the Bank of America Related
Entity shall have made any demand hereunder and whether or not said obligations shall have matured. In exercising the foregoing right to set-off, any Bank of America Related Entity shall be entitled to withdraw funds in the Over/Under Account which
are being held for or owing to Seller to set-off against any amounts due and owing by Seller to the Bank of America Related Entity. If a Bank of America Related Entity other than Buyer intends to exercise its right to set-off in this subsection (b),
such Bank 

  
 37 

	 	
of America Related Entity shall provide Seller prior notice thereof, and upon Seller’s receipt of such notice, if the basis for such right to set-off is Seller’s breach or default of
its obligations to the Bank of America Related Entity, Seller shall have three (3) Business Days to cure any such breach or default in order to avoid such set-off. 

11.9 Reasonable Assurances. If, at any time during the term of the Agreement, Buyer has reason to believe that Seller is not conducting its
business in accordance with, or otherwise is not satisfying: (i) all applicable statutes, regulations, rules, and notices of federal, state, or local governmental agencies or instrumentalities, all applicable requirements of Approved Investors
and Insurers and prudent industry standards or (ii) all applicable requirements of Buyer, as set forth in this Agreement, then, Buyer shall have the right to demand, pursuant to notice from Buyer to Seller specifying with particularity the
alleged act, error or omission in question, reasonable assurances from Seller that such a belief is in fact unfounded, and any failure of Seller to provide to Buyer such reasonable assurances in form and substance reasonably satisfactory to Buyer,
within the time frame specified in such notice, shall itself constitute an Event of Default hereunder, without a further cure period. Seller hereby authorizes Buyer to take such actions as may be necessary or appropriate to confirm the continued
eligibility of Seller for Transactions hereunder, including without limitation (i) ordering credit reports and (ii) contacting Mortgagors, licensing authorities and Approved Investors or Insurers. 

ARTICLE 12 

INDEMNIFICATION 
 12.1
Indemnification. Seller shall indemnify and hold harmless Buyer, its Affiliates and any of their respective officers, directors, employees and agents from and against any and all liabilities, obligations, losses, damages, penalties,
judgments, suits, costs, expenses and disbursements of any kind whatsoever that may be imposed upon, incurred by or asserted against Buyer, its Affiliates and their respective officers, directors, employees and agents in any way relating to or
arising out of the Principal Agreements or any other document referred to therein or any of the transactions contemplated thereby, except for liabilities, losses and damages solely resulting from the gross negligence or willful misconduct of Buyer
and its Affiliates. 
 12.2 Payment of Taxes. Seller shall pay and hold Buyer harmless from and against any and all present and future stamp,
documentary and other similar taxes with respect to the Purchased Assets, the Principal Agreements and other documents related thereto and hold Buyer harmless from and against any and all liabilities with respect to or resulting from any delay or
omission to pay such taxes. 
 12.3 Agreement Not to Assert Claims. Seller agrees not to assert any claim against Buyer, its Affiliates and
any of their respective officers, directors, employees and agents, on any theory of liability, for special, indirect, consequential or punitive damages arising out of or otherwise relating to the Principal Agreements, the actual or proposed use of
the proceeds of the Transactions, this Agreement or any of the transactions contemplated hereby or thereby. 
 12.4 Survival. Without
prejudice to the survival of any other agreement of Seller hereunder, the covenants and obligations of Seller contained in this Article 12 shall survive the payment in full of the Repurchase Prices and all other amounts payable hereunder and
delivery of the Purchased Mortgage Loans by Buyer against full payment therefor. 

  
 38 

 ARTICLE 13 

TERM AND TERMINATION 
 13.1
Term. Provided that no Event of Default or Potential Default has occurred and is continuing, and except as otherwise provided for herein, this Agreement shall commence on the Effective Date and continue until the Expiration Date set
forth in the Transactions Terms Letter. Following expiration or termination of this Agreement, all indebtedness due Buyer under the Principal Agreements shall be immediately due and payable without notice to Seller and without presentment, demand,
protest, notice of protest or dishonor, or other notice of default, and without formally placing Seller in default, all of which are hereby expressly waived by Seller. 

13.2 Termination. 
  

	 	(a)	Buyer may, with or without cause, terminate this Agreement at any time by providing notice to Seller. Seller acknowledges and understands that Buyer is under no obligation whatsoever to continue the term of this
Agreement for any period of time and may terminate this Agreement at any time for any reason. By way of example but not limitation, Buyer may immediately terminate this Agreement by providing notice to Seller if (i) this Agreement or any
Transaction is deemed by a court or by statute to not constitute a “repurchase agreement,” a “securities contract,” or a “master netting agreement,” as each such term is defined in the Bankruptcy Code,
(ii) payments or security offered hereunder are deemed by a court or by statute not to constitute “settlement payments” or “margin payments” as each such term is defined in the Bankruptcy Code, (iii) this Agreement or
any Transaction is deemed by a court or by statute not to constitute an agreement to provide financial accommodations as described in Bankruptcy Code Section 365(c)(1) or (iv) Buyer determines that there has been fraud, misrepresentation
or any similar intentional conduct on behalf of Seller, its officers, directors, employees, agents and/or its representatives with respect to any of Seller’s obligations, responsibilities or actions undertaken in connection with this Agreement.

  

	 	(b)	Upon termination of this Agreement for any reason, all outstanding amounts due to Buyer under the Principal Agreements shall be immediately due and payable without notice to Seller and without presentment, demand,
protest, notice of protest or dishonor, or other notice of default, and without formally placing Seller in default, all of which are hereby expressly waived by Seller; provided, that if Buyer terminates this Agreement without cause, Buyer may, but
shall have no obligation to, grant Seller an extension of time, specified by Buyer in its sole discretion, to pay such outstanding amounts. Further, any termination of this Agreement shall not affect the outstanding obligations of Seller under this
Agreement and all such outstanding obligations and the rights and remedies afforded Buyer in connection therewith, including, without limitation, those rights and remedies afforded Buyer under this Agreement, shall survive any termination of this
Agreement. Buyer shall not be liable to Seller for any costs, loss or damages arising from or relating to a termination by Buyer in accordance with any subsection of this Section 13.2. 

13.3 Extension of Term. Upon mutual agreement of Seller and Buyer, the term of this Agreement may be extended. Such extension may be made
subject to the terms and conditions hereunder and to any other terms and conditions as Buyer, in its sole and good faith discretion, may deem necessary or advisable. Under no circumstances shall such an extension by Buyer be interpreted or construed
as a forfeiture by Buyer of any of its rights, entitlements or interest created hereunder. Seller acknowledges and understands that Buyer is under no obligation whatsoever to extend the term of this Agreement beyond the initial term. 

  
 39 

 ARTICLE 14 

GENERAL 
 14.1 Integration; Servicing
Provisions Integral and Non-Severable. This Agreement, together with the other Principal Agreements, and all other documents executed pursuant to the terms hereof and thereof, constitute the entire agreement between the parties with respect
to the subject matter hereof and supercedes any and all prior or contemporaneous oral or written communications with respect to the subject matter hereof, all of which such communications are merged herein. All Transactions hereunder constitute a
single business and contractual relationship and each Transaction has been entered into in consideration of the other Transactions. Without limiting the generality of the foregoing, the provisions of this Agreement related to the servicing and
servicing rights of the Mortgage Loans subject to Transactions hereunder are integral, interrelated, and are non-severable from the purchase and sale provisions of the Agreement. Buyer has relied upon such provisions as being integral and
non-severable in determining whether to enter into this Agreement and in determining the Purchase Price methodology for the Mortgage Loans. The integration of these servicing provisions is necessary to enable Buyer to obtain the maximum value from
the sale of the Mortgage Loans by having the ability to sell the servicing rights related to the Mortgage Loans free from any claims or encumbrances. Further, the fact that Seller or the Servicer may be entitled to a servicing fee for interim
servicing of the Purchased Mortgage Loans or that Buyer may provide a separate notice of default to Seller or the Servicer regarding the servicing of the Purchased Mortgage Loans shall not affect or otherwise change the intent of Seller and Buyer
regarding the integral and non-severable nature of the provisions in the Agreement related to servicing and servicing rights nor will such facts affect or otherwise change Buyer’s ownership of the servicing rights related to the Mortgage Loans.

 14.2 Amendments. No modification, waiver, amendment, discharge or change of this Agreement shall be valid unless the same is in writing and
signed by the party against whom the enforcement of such modification, waiver, amendment, discharge or change is sought. 
 14.3 No Waiver. No
failure or delay on the part of Seller or Buyer in exercising any right, power or privilege hereunder and no course of dealing between Seller and Buyer shall operate as a waiver thereof nor shall any single or partial exercise of any right, power or
privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder. 
 14.4 Remedies
Cumulative. The rights and remedies herein expressly provided are cumulative and not exclusive of any rights or remedies that Seller or Buyer would otherwise have. No notice or demand on Seller in any case shall entitle Seller to any other
or further notice or demand in similar or other circumstances or constitute a waiver of the rights of Buyer to any other or further action in any circumstances without notice or demand. 

14.5 Assignment. The Principal Agreements may not be assigned by Seller to any Person without the prior written consent of Buyer, which consent
may be withheld by Buyer in Buyer’s sole discretion. The Principal Agreements, along with Buyer’s right, title and interest, including its security interest, in any or all of the Purchased Assets, may, at any time, be transferred or
assigned, in whole or in part, by Buyer with the prior written consent of Seller not to be unreasonably withheld, delayed or conditioned, and upon Buyer’s receipt of such consent with respect to such transfer or assignment, any transferee or
assignee thereof may enforce the Principal Agreements and such security interest directly against Seller; provided, that no such consent shall be required (i) if such transfer or assignment is to any of Buyer’s Affiliates or (ii) upon
the occurrence of an Event of Default, and upon Buyer providing notice to Seller such transferee or assignee thereof may enforce the Principal Agreements and such security interest directly against Seller. 

  
 40 

 14.6 Successors and Assigns. The terms and provisions of this Agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and permitted assigns. 
 14.7 Participations. Buyer may from time
to time sell or otherwise grant participations in this Agreement, and the holder of any such participation, if the participation agreement so provides, (i) shall, with respect to its participation, be entitled to all of the rights of Buyer and
(ii) may exercise any and all rights of set-off or banker’s lien with respect thereto, in each case as fully as though Seller were directly obligated to the holder of such participation in the amount of such participation; provided,
however, that Seller shall not be required to send or deliver to any of the participants other than Buyer any of the materials or notices required to be sent or delivered by it under the terms of this Agreement, nor shall it have to act except in
compliance with the instructions of Buyer. 
 14.8 Invalidity. In case any one or more of the provisions contained in this Agreement shall for
any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions hereof, and this Agreement shall be construed as if such invalid, illegal or
unenforceable provision had not been included. 
 14.9 Additional Instruments. Seller shall execute and deliver such further instruments and
shall do and perform all matters and things necessary or expedient to be done or observed for the purpose of effectively creating, maintaining and preserving the security and benefits intended to be afforded by this Agreement. 

14.10 Survival. All representations, warranties, covenants and agreements herein contained on the part of Seller shall survive any Transaction
and shall be effective so long as this Agreement is in effect or there remains any obligation of Seller hereunder to be performed. 
 14.11 Notices. 

 

	 	(a)	All notices, demands, consents, requests and other communications required or permitted to be given or made hereunder in writing shall be mailed (first class, return receipt requested and postage prepaid) or delivered
in person or by overnight delivery service or by facsimile, addressed to the respective parties hereto at their respective addresses set forth below or, as to any such party, at such other address as may be designated by it in a notice to the other:

  

			
	If to Seller:	  	That address set forth in the Transactions Terms Letter
		
	If to Buyer:	  	Bank of America, N.A.
		  	4500 Park Granada
		  	Mail Code: CA7-910-02-38
		  	Calabasas, California 91302
		  	Attention: Adam Gadsby, Managing Director
		  	Telephone: (818) 225-6541
		  	Fax: (213) 457-8707
		  	E-mail: Adam.Gadsby@baml.com
		
		  	With copies to:
		
		  	Bank of America, N.A.
		  	One Bryant Park, 11th Floor
		  	Mail Code: NY1-100-11-01

  
 41 

 
			
		  	 New York, New York 10036
 Attention: Eileen
Albus, Director, Mortgage Finance
 Telephone: (646) 855-0946

Fax: (646) 855-5050 E-mail:
 Eileen.Albus@baml.com

 
 and
  

Bank of America, N.A.
 50 Rockefeller Plaza

Mail Code: NY1-050-12-01
 New York, New York 10020

Attention: Amie Davis, Assistant General Counsel
 Telephone:
(646) 855-0183
 Fax: (704) 409-0337
 E-mail:
Amie.Davis@bankofamerica.com

 All written notices shall be conclusively deemed to have been properly given or made when duly
delivered, if delivered in person or by overnight delivery service, or on the third (3rd) Business Day after being deposited in the mail, if mailed in accordance herewith, or upon
transmission by the receiving party of a facsimile confirming receipt, if delivered by facsimile. Notwithstanding the foregoing, any notice of termination shall be deemed effective upon mailing, transmission, or delivery, as the case may be. 

 

	 	(b)	All notices, demands, consents, requests and other communications required or permitted to be given or made hereunder which are not required to be in writing may also be provided electronically either (i) as an
electronic mail sent and addressed to the respective parties hereto at their respective electronic mail addresses set forth below, or as to any such party, at such other electronic mail address as may be designated by it in a notice to the other or
(ii) with respect to Buyer, via a posting of such notice on Buyer’s customer website(s). 

  

			
	If to Seller:	  	That email address(es) specified in the Transactions Terms Letter, if any.
		
	If to Buyer:	  	Eileen.Albus@baml.com
		  	Amie.Davis@bankofamerica.com
		  	Adam.Gadsby@baml.com and
		  	Adam.Robitshek@baml.com

 14.12 Personal Identification Number. Seller shall adopt a Personal Identification Number or PIN to be
entered into the computer system in connection with all documents transmitted from Seller to Buyer electronically. Further, any document required to be signed by Seller may be signed by handwritten signature or transmitted electronically in
conjunction with the PIN, except any written notification designating or changing the PIN and those documents required to be delivered pursuant to Section 7.1(a) above, which must be signed by hand. Seller shall provide Buyer with
written notification of its PIN and any changes thereto; provided, however, that any change to the PIN may not become effective for twenty four (24) hours following Buyer’s confirmation of receipt of such notice by Seller. Seller and Buyer
agree that transmitting a document in conjunction with the PIN shall have the same force and effect as a handwritten signature and shall be sufficient to verify that Seller originated such document. Seller shall employ security procedures to ensure
that all transmissions of documents accompanied by the PIN are authorized, authentic, reliable and complete and shall promptly notify Buyer if Seller discovers the PIN 

  
 42 

 has been improperly disclosed to any Person. Notwithstanding the foregoing or any other breach of security, Buyer
shall be entitled to rely upon the PIN of Seller until such time as (a) Seller provides Buyer with written instructions to the contrary and (b) Buyer has sufficient time to notify the appropriate employees and modify its computerized
systems. 
 14.13 Governing Law. This Agreement and the rights and obligations of the parties under the Principal Agreements shall be
construed in accordance with and governed by the laws of the State of New York, without regard to principles of conflicts of laws. All legal actions between or among the parties regarding this Agreement, including, without limitation, legal actions
to enforce this Agreement or because of a dispute, breach or default of this Agreement, shall be brought in the federal or state courts located in New York County, New York, which courts shall have sole and exclusive in personam, subject matter and
other jurisdiction in connection with such legal actions and the parties acknowledged and agree that venue in such courts shall be convenient and appropriate for all purposes. 

14.14 Counterparts. This Agreement may be executed in any number of counterparts by different parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same Agreement. 
 14.15
Headings. The headings in this Agreement are for purposes of reference only and shall not limit or otherwise affect the meaning or interpretation of any provisions hereof. 

14.16 Joint and Several Liability of Each Seller. To the extent there is more than one Person which is named as a Seller under this Agreement,
each such Person shall be jointly and severally liable for the rights, covenants, obligations and warranties and representations of “Seller” as contained herein and the actions of any Person (including another Seller) or third party shall
in no way affect such joint and several liability. 
 14.17 Confidential Information. To effectuate this Agreement, Buyer and Seller may
disclose to each other certain confidential information relating to the parties’ operations, computer systems, technical data, business methods, and other information designated by the disclosing party or its agent to be confidential, or that
should be considered confidential in nature by a reasonable person given the nature of the information and the circumstances of its disclosure (collectively the “Confidential Information”). Confidential Information can consist of
information that is either oral or written or both, and may include, without limitation, any of the following: (i) any reports, information or material concerning or pertaining to businesses, methods, plans, finances, accounting statements,
and/or projects of either party or their affiliated or related entities; (ii) any of the foregoing related to the parties or their related or affiliated entities and/or their present or future activities and/or (iii) any term or condition
of any agreement (including this Agreement) between either party and any individual or entity relating to any of their business operations. With respect to Confidential Information, the parties hereby agree: 

 

	 	(a)	not to use the Confidential Information except in furtherance of this Agreement; 

  

	 	(b)	to use reasonable efforts to safeguard the Confidential Information against disclosure to any unauthorized third party with the same degree of care as they exercise with their own information of similar nature; and

  

	 	(c)	not to disclose Confidential Information to anyone other than employees, agents or contractors with a need to have access to the Confidential Information and who are bound to the parties by like obligations of
confidentiality, except that the parties shall not be prevented from using or disclosing any of the Confidential Information which: (i) is already known to the receiving party at the time it is obtained from the disclosing party;

  
 43 

 (ii) is now, or becomes in the future, public knowledge other than through wrongful acts or
omissions of the party receiving the Confidential Information; (iii) is lawfully obtained by the party from sources independent of the party disclosing the Confidential Information and without confidentiality and/or non-use restrictions; or
(iv) is independently developed by the receiving party without any use of the Confidential Information of the disclosing party. Notwithstanding anything contained herein to the contrary, Buyer may share any Confidential Information of Seller
with an Affiliate of Buyer for any valid business purpose, such as, but not limited to, to assist an Affiliate in evaluating a current or potential business relationship with Seller. 

If any party or any of its successors, subsidiaries, officers, directors, employees, agents and/or representatives, including, without
limitation, its insurers, sureties and/or attorneys, breaches its respective duty of confidentiality under this Agreement, the nonbreaching party(ies) shall be entitled to all remedies available at law and/or in equity, including, without
limitation, injunctive relief. 
 In addition, the Principal Agreements and their respective terms, provisions, supplements and amendments,
and transactions and notices thereunder (other than the tax treatment and tax structure of the transactions), are proprietary to Buyer and shall be held by Seller in strict confidence and shall not be disclosed to any third party without the consent
of Buyer except for (i) disclosure to Seller’s direct and indirect parent companies, directors, attorneys, agents or accountants, provided that such attorneys or accountants likewise agree to be bound by this covenant of confidentiality,
or are otherwise subject to confidentiality restrictions; (ii) upon prior written notice to Buyer, disclosure required by law, rule, regulation or order of a court or other regulatory body; (iii) upon prior written notice to Buyer,
disclosure to any approved hedge counterparty to the extent necessary to obtain any hedging hereunder; (iv) any disclosures or filing required under Securities and Exchange Commission (“SEC”) or state securities’ laws; or
(v) the tax treatment and tax structure of the transactions, which shall not be deemed confidential; provided that in the case of (ii), (iii) and (iv), Seller shall take reasonable actions to provide Buyer with prior written notice;
provided further that in the case of (iv), Seller shall not file any of the Principal Agreements other than the Agreement with the SEC or state securities office unless Seller has (x) provided at least thirty (30) days (or such lesser time
as may be demanded by the SEC or state securities office) prior written notice of such filing to Buyer, and (y) redacted all pricing information and other commercial terms. 

14.18 Intent. Seller and Buyer recognize and intend that: 
  

	 	(a)	this Agreement and each Transaction hereunder constitutes a “repurchase agreement” as that term is defined in Section 101(47) of the Bankruptcy Code, a “securities contract” as that term is
defined in Section 741(7) of the Bankruptcy Code and a “master netting agreement” as that term is defined in Section 101(38A) of the Bankruptcy Code. Seller and Buyer further recognize and intend that this Agreement is an
agreement to provide financial accommodations and is not subject to assumption pursuant to Bankruptcy Code Section 365(a); 

  

	 	(b)	Buyer’s right to liquidate the Purchased Mortgage Loans delivered to it in connection with the Transactions hereunder or to accelerate or terminate this Agreement or otherwise exercise any other remedies herein is
a contractual right to liquidate, accelerate or terminate such Transaction as described in Bankruptcy Code Sections 555, 559 and 561;any payments or transfers of property made with respect to this Agreement or any Transaction to: (i) satisfy a
Margin Deficit, (ii) comply with a Margin Call, or (iii) satisfy the provision of additional security agreements to provide enhancements to satisfy a deficiency in the Over/Under Account, shall in each case be considered a “margin
payment” as such term is defined in Bankruptcy Code Section 741(5); 

  
 44 

	 	(c)	any payments or transfers of property by Seller (i) on account of a Haircut, (ii) in partial or full satisfaction of a repurchase obligation, or (iii) fees and costs under this Agreement or under any
Transaction shall in each case constitute “settlement payments” as such term is defined in Bankruptcy Code Section 741(8); and 

  

	 	(d)	each of (i) the additional security agreements delivered by Seller to Buyer pursuant to Section 2.9 hereof, (ii) the pledge of the amounts on deposit or held in the Over/Under Account pursuant to
Section 3.5(e) hereof, and (iii) the pledge of the servicing rights and ancillary collateral related to the Purchased Mortgage Loans in Section 6.1 hereof, each constitutes “a security agreement or other arrangement or other
credit enhancement” that is “related to” the Agreement and Transactions hereunder within the meaning of Sections 101(38A)(A), 101(47)(A)(v) and 741(7)(A)(xi) of the Bankruptcy Code. 

14.19 Right to Liquidate. It is understood that either party’s right to liquidate Purchased Mortgage Loans delivered to it in connection
with Transactions hereunder or to terminate or accelerate obligations under this Agreement or any individual Transaction, are contractual rights for same as described in Sections 555 and 559 of the Bankruptcy Code. 

14.20 Insured Depository Institution. If a party hereto is an “insured depository institution” as such term is defined in the Federal
Deposit Insurance Act (as amended, the “FDIA”), then each Transaction hereunder is a “qualified financial contract” as that term is defined in the FDIA and any rules, orders or policy statements thereunder except insofar
as the type of assets subject to such Transaction would render such definition inapplicable. 
 14.21 Netting Contract. This Agreement
constitutes a “netting contract” as defined in and subject to Title IV of the Federal Deposit Insurance Corporation Improvement Act of 1991 (“FDICIA”) and each payment entitlement and payment obligation under any
Transaction hereunder shall constitute a “covered contractual payment entitlement” or “covered contractual payment obligation”, respectively, as defined in and subject to the FDICIA except insofar as one or more of the parties
hereto is not a “financial institution” as that term is defined in the FDICIA. 
 14.22 Reimbursement of Expenses. If any claim,
legal action or any arbitration or other proceeding is brought for the enforcement of this Agreement or because of a dispute, breach, default or misrepresentation in connection with any of the provisions of this Agreement, the prevailing party shall
be entitled to recover reasonable attorneys’ fees and other reasonable costs in that claim, action, arbitration or proceeding, in addition to any other relief to which such party may be entitled. 

14.23 Examination and Oversight by Regulators. Seller agrees that the transactions with Buyer under this Agreement may be subject to regulatory
examination and oversight by one or more Governmental Authorities. Seller shall comply with all requests made by Buyer to assist Buyer in complying with regulatory requirements imposed on Buyer. 

14.24 Waiver of Jury Trial. Each of Seller and Buyer hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all
right to trial by jury in any legal proceeding arising out of or relating to this Agreement, any other Principal Agreement or the transactions contemplated hereby or thereby. 

  
 45 

 14.25 Amendment and Restatement. Buyer and Seller entered into the Original Agreement. Buyer and
Seller desire to enter into this Agreement in order to amend and restate the Original Agreement in its entirety. From and after the Effective Date, each of Buyer and Seller shall hereafter be bound by the terms and conditions of this Agreement and
the other Principal Agreements (as such term is defined herein). 
 (Signature page to follow) 

  
 46 

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

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

		 		 	Name:	 	Adam Robitshek
		 		 	Title:	 	Vice President

  

							
		 		 	LOANDEPOT.COM, LLC
				
	SELLER:	 		 	By:	 	 /s/ Jon Frojen

		 		 	Name:	 	Jon Frojen
		 		 	Title:	 	Chief Financial Officer

 EXHIBIT A 

GLOSSARY OF DEFINED TERMS 
 Ability
to Repay Rule: 12 CFR 1026.43(c), including all applicable official staff commentary. 
 Accepted Servicing Practices: With respect to
any Purchased Mortgage Loan, those mortgage servicing practices of prudent mortgage lending institutions which service mortgage loans of the same type as such Purchased Mortgage Loan in the jurisdiction where the related Mortgaged Property is
located. 
 Acknowledgement of Confidentiality of Password Agreement: That certain Acknowledgement of Confidentiality of Password Agreement
attached hereto as Exhibit I. 
 Additional Purchased Mortgage Loans: Those additional Mortgage Loans or cash provided by Seller to
Buyer pursuant to Section 6.3 of this Agreement. 
 Affiliate: With respect to any specified entity, any other entity controlling
or controlled by or under common control with such specified entity. For the purposes of this definition, “control” when used with respect to a specified entity means the power to direct the management and policies of such entity, directly
or indirectly, whether through the ownership of voting securities, by contract or otherwise, and the terms “controlling” and “controlled” having meanings correlative to the foregoing. 

Agency: Fannie Mae, Freddie Mac, or Ginnie Mae. 

Agency Eligible Mortgage Loan: A Mortgage Loan or a Cooperative Loan that is originated in Strict Compliance with the Agency guidelines and the
eligibility requirements specified for the applicable Agency program, and is eligible for sale to or securitization by such Agency. 
 Aggregate
Transaction Limit: The maximum aggregate principal amount of Transactions that may be outstanding at any one time, as set forth in the Transactions Terms Letter. 

Applicable Pricing Rate: With respect to any date of determination, the greater of (i) One-Month LIBOR, and (ii) the LIBOR Floor. It
is understood that the Applicable Pricing Rate shall be adjusted on a daily basis. 
 Approved Investor: Fannie Mae, Freddie Mac, Ginnie Mae
or a financially responsible private institution, which is deemed acceptable by Buyer in its sole and good faith discretion, purchasing Purchased Mortgage Loans from Seller pursuant to a Purchase Commitment. 

Approved Payee: A Closing Agent or warehouse lender approved by Buyer in accordance with Section 3.7. 

Asset Data Record: A document, in the form required by Buyer and as may from time to time be amended by Buyer, as such form may be set forth in
the Handbook, completed by Seller and submitted to Buyer with respect to each Purchased Mortgage Loan. 
 Asset Value: With respect to each
Purchased Mortgage Loan and for any date of determination, an amount equal to the following, as applicable, as the same may be reduced in accordance with Section 4.3, and, in the case of each Purchased Mortgage Loan, as shall include the
related servicing rights: 

  
 A-1 

 (a) if the Purchased Mortgage Loan has Standard Status, the product of the related Type Purchase Price Percentage
and the least of: (i) the Market Value of such Purchased Mortgage Loan; (ii) the unpaid principal balance of such Purchased Mortgage Loan; (iii) the purchase price paid by Seller for such Purchased Mortgage Loan if it is a Mortgage
Loan; and (iv) the Takeout Price committed by the related Approved Investor, if applicable; 
 (b) if the Purchased Mortgage Loan is a Noncompliant
Mortgage Loan, the product of the related Type Purchase Price Percentage for a Noncompliant Mortgage Loan and the least of: (i) the Market Value of such Purchased Mortgage Loan; (ii) the unpaid principal balance of such Purchased Mortgage
Loan; (iii) the purchase price paid by Seller for such Purchased Mortgage Loan if it is a Mortgage Loan; and (iv) the Takeout Price committed by the related Approved Investor, if applicable; or 

 

	(c)	if the Purchased Mortgage Loan is a Defective Mortgage Loan, zero. 

 Assignment: A duly executed
assignment to Buyer in recordable form of a Purchased Mortgage Loan, of the indebtedness secured thereby and of all documents and rights related to such Purchased Mortgage Loan. 

Assignment of Closing Protection Letter: An assignment assigning and subrogating Buyer to all of Seller’s rights in a Closing Protection
Letter, substantially in the form of Exhibit F hereto. 
 Assignment of Fidelity Bond and Errors and Omission Policy: An assignment
assigning and subrogating Buyer to all of Seller’s rights in a Fidelity Bond and Errors and Omissions Policy, substantially in the form of Exhibit G hereto. 

Assignment of Proprietary Lease: The specific agreement creating a first lien on and pledge of the Cooperative Shares and the appurtenant
Proprietary Lease securing a Cooperative Loan. 
 Bailee Agreement: A bailee agreement substantially in the form acceptable to Buyer. 

Bankruptcy Code: Title 11 of the United States Code, now or hereafter in effect, as amended, or any successor thereto. 

Bond Loans – 1st Liens: Unless defined otherwise in the Transactions Terms Letter, a
first lien mortgage loan (i) that was originated and underwritten in accordance with a qualifying local or state governmental homeownership program administered by a Housing Finance Agency (as defined under 24 CFR 266.5) and (ii) with
respect to which Seller has obtained a Purchase Commitment on or prior to the related Purchase Date. 
 Bond Loans – 2nd Liens: Unless defined otherwise in the Transactions Terms Letter, a second lien mortgage loan (i) that was originated and underwritten in accordance with a qualifying local or state
governmental homeownership program administered by a Housing Finance Agency (as defined under 24 CFR 266.5) and (ii) with respect to which Seller has obtained a Purchase Commitment on or prior to the related Purchase Date. 

Breakage Fee: That fee, as set forth in the Transactions Terms Letter or otherwise indicated on Buyer’s then-current schedule of fees,
payable by Seller to Buyer if Seller fails to consummate a Transaction after Seller has submitted an Asset Data Record in connection with such requested Transaction. 

  
 A-2 

 Business Day: Any day, excluding Saturday, Sunday and any day that is a legal holiday under the
laws of the State of New York and the State of California or as may otherwise be published on Buyer’s website(s). 
 Buyer’s Correspondent
Guidelines: The standards, procedures and guidelines of Buyer and its Affiliates for underwriting Mortgage Loans, a copy of which has been made available to Seller. 

Calculation Period: With respect to: (a) the Payment Date occurring in the month following the end of the first calendar quarter following
the Effective Date, the period beginning on the Effective Date and ending on the last day of the calendar quarter in which such Effective Date occurs, (b) for each subsequent Payment Date, the prior calendar quarter and (c) with respect to
the date this Agreement is terminated pursuant to the terms herein, the period beginning on the first day of the calendar quarter in which such termination is to occur and ending on the Expiration Date. 

Cash Equivalents: Any (a) securities with maturities of ninety (90) days or less from the date of acquisition issued or fully
guaranteed or insured by the United States Government or any agency thereof, (b) certificates of deposit and Eurodollar time deposits with maturities of ninety (90) days or less from the date of acquisition and overnight bank deposits of
any commercial bank having capital, surplus and retained earnings in excess of $70,000,000, (c) repurchase obligations of any commercial bank satisfying the requirements of clause (b) of this definition, having a term of not more than
seven days with respect to securities issued or fully guaranteed or insured by the United States Government, (d) commercial paper of a domestic issuer rated at least A-1 or the equivalent thereof by S&P or p-1 or the equivalent thereof by
Moody’s and in either case maturing within ninety (90) days after the day of acquisition, (e) securities with maturities of ninety (90) days or less from the date of acquisition issued or fully guaranteed by any state,
commonwealth or territory of the United States, by any political subdivision or taxing authority of any such state, commonwealth or territory or by any foreign government, the securities of which state, commonwealth, territory, political
subdivision, taxing authority or foreign government (as the case may be) are rated at least A by S&P or A by Moody’s, (f) securities with maturities of ninety (90) days or less from the date of acquisition backed by standby
letters of credit issued by any commercial bank satisfying the requirements of clause (b) of this definition, or (g) shares of money market, mutual or similar funds which invest exclusively in assets satisfying the requirements of clauses
(a) through (f) of this definition. 
 Cashiers Check Fee: That fee, as set forth in the Transactions Terms Letter or otherwise
indicated on Buyer’s then-current schedule of fees, payable by Seller for each disbursement made by a cashiers check issued to Seller or its Approved Payee. 

Change of Control: Change of Control shall mean any of the following: 

(a) if Seller is a corporation, any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”)), other than a trustee or other fiduciary holding securities of Seller under an employee benefit plan of Seller, becomes the “beneficial owner” (as defined in Rule 13d-3 promulgated under the Exchange Act),
directly or indirectly, of securities of Seller representing 50% or more of (A) the outstanding shares of common stock of Seller or (B) the combined voting power of Seller’s then-outstanding securities; 

(b) if Seller is a legal entity other than a corporation, the majority voting control of Seller, or its equivalent, under Seller’s governing documents is
transferred to any Person; 
 (c) Seller is party to a merger or consolidation, or series of related transactions, which results in the voting securities or
majority voting control interest of Seller outstanding immediately prior thereto failing to continue to represent (either by remaining outstanding or by being converted into voting securities or a 

  
 A-3 

 majority voting controlling interest of the surviving or another entity) at least fifty (50%) percent of the
combined voting power of the voting securities or majority voting control interest of Seller or such surviving or other entity outstanding immediately after such merger or consolidation; 

(d) the sale or disposition of all or substantially all of Seller’s assets (or consummation of any transaction, or series of related transactions, having
similar effect); 
 (e) there occurs a change in the composition of the Board of Directors or governing body of Seller within a one (1) year period, as
a result of which fewer than a majority of the directors or governing body members are incumbent; 
 (f) the dissolution or liquidation of Seller; or 

(g) any transaction or series of related transactions that has the substantial effect of any one or more of the foregoing. 

Closed-End Second Lien Mortgage Loan: Unless defined otherwise in the Transactions Terms Letter, a second lien mortgage loan for a fixed amount
drawn at closing and underwritten in accordance with Seller’s underwriting guidelines for second lien mortgages, as same have been approved by Buyer. 

Closing Agent: The Person designated by Seller and approved by Buyer in accordance with Section 3.7 to receive Purchase Prices from
Buyer, for the account of Seller, for the purpose of funding a Purchased Mortgage Loan. 
 Closing Protection Letter: A document issued by a
title insurance company to Seller and/or Buyer and relied upon by Buyer to provide closing protection for one or more mortgage loan closings and to insure Seller and/or Buyer, without limitation, against embezzlement by the Closing Agent and loss or
damage resulting from the failure of the Closing Agent to comply with all applicable closing instructions. 
 Confirmation: A confirmation of
temporary modification in the form of Exhibit M hereto. 
 Contingent Obligations: Any obligation of Seller arising from an existing
condition or situation that involves uncertainty as to outcome and that will be resolved by the occurrence or nonoccurrence of some future event, including, without limitation, any obligation guaranteeing or intended to guarantee any Debt, leases,
dividends or other obligations of any other Person in any manner, whether directly or indirectly; provided; however, that endorsements of instruments for deposit or collection in the ordinary course of business shall not be included. With respect to
guarantees, the amount of the Contingent Obligation shall be equal to the stated or determinable amount of the primary obligation in respect of the guarantee or, if not stated or determinable, the maximum reasonably anticipated liability in respect
thereof, as determined by Buyer. 
 Control Agreement: The agreement to perfect Buyer’s security interest in a Custodial Account. 

Conventional Conforming Mortgage Loan: Unless defined otherwise in the Transactions Terms Letter, a first lien mortgage loan that fully conforms
to all underwriting standards, loan amount limitations and other requirements of that standard Agency mortgage loan purchase program accepting only the highest quality mortgage loans underwritten without dependence on expanded criteria provisions,
or that is approved by Desktop Underwriter or Loan Prospector. 
 Cooperative Agency Mortgage Loan: An Agency Eligible Mortgage Loan that is a
Cooperative Loan. 

  
 A-4 

 Cooperative Corporation: With respect to any Cooperative Loan, the cooperative apartment
corporation that holds legal title to the related Cooperative Project and grants occupancy rights to units therein to stockholders through Proprietary Leases or similar arrangements. 

Cooperative Jumbo Mortgage Loan: A Jumbo Mortgage Loan that is a Cooperative Loan. 

Cooperative Loan: A mortgage loan that is secured by a first lien on and perfected security interest in Cooperative Shares and the related
Proprietary Lease granting exclusive rights to occupy the related Cooperative Unit in the building owned by the related Cooperative Corporation. 

Cooperative Project: With respect to any Cooperative Loan, all real property and improvements thereto and rights therein and thereto owned by a
Cooperative Corporation including without limitation the land, separate dwelling units and all common elements. 
 Cooperative Shares: With
respect to any Cooperative Loan, the shares of stock issued by a Cooperative Corporation and allocated to a Cooperative Unit and represented by a Stock Certificate. 

Cooperative Unit: With respect to a Cooperative Loan, a specific unit in a Cooperative Project. 

Correspondent Mortgage Loan: A Mortgage Loan originated by a third party originator and acquired by Seller in accordance with Seller’s
correspondent Mortgage Loan program. 
 Current Assets: Those assets set forth in the consolidated balance sheet of Seller, prepared in
accordance with GAAP, as current assets, defined as those assets that are now cash or will by their terms or disposition be converted to cash within one (1) year of the date of the determination. 

Current Liabilities: Those liabilities set forth in the consolidated balance sheet of Seller, prepared in accordance with GAAP, as current
liabilities, defined as those liabilities due upon demand or within one (1) year of the date of determination. 
 Custodial Account: A
segregated time or demand deposit account established and maintained by Seller with an Eligible Bank for the benefit of Buyer. 
 Custodial
Agreement: That certain Amended and Restated Custodial Agreement, dated as of July 18, 2012, among Buyer, Seller and Custodian, as the same may be amended, supplemented or otherwise modified from time to time. 

Custodian: Deutsche Bank National Trust Company or such other custodian selected by Buyer in its sole and good faith discretion. 

Date of Disbursement: The date of disbursement shall mean (i) with respect to a wire transfer, the date such funds are wired,
(ii) with respect to a cashiers check, the date such check is issued by the bank and (iii) with respect to a funding draft, the date that the draft is posted by the bank on which the draft is drawn. 

Debt: The debt of Seller consisting of, without duplication: (a) indebtedness for borrowed money, including principal, interest, fees and
other charges; (b) obligations evidenced by bonds, debentures, notes or other similar instruments; (c) obligations to pay the deferred purchase price of property or services; (d) obligations as lessee under leases that shall have been
or should be in accordance with GAAP, recorded as capital leases; (e) obligations secured by any lien upon property or assets owned by Seller, even though Seller has not assumed or become liable for payment of such obligations;
(f) obligations in connection 

  
 A-5 

 [***] Confidential portions of this document have been redacted and filed separately with the
Commission. 
  
 with any letter of credit issued for the account of Seller;
(g) obligations under direct or indirect guarantees in respect of and obligations, contingent or otherwise, to purchase or otherwise acquire, or otherwise assure a creditor against loss in respect of, indebtedness or obligations of others of
the kinds referred to above; and (h) all Contingent Obligations. 
 Default Rate: As determined by Buyer’s in its sole discretion, a
rate up to [***] 
 Defective Loan Fee: A fee equal to [***] dollars ($[***]) payable by Seller for each Purchased Mortgage Loan that is or
becomes a Defective Mortgage Loan. 
 Defective Mortgage Loan: A Purchased Mortgage Loan: 

(a) that has not been repurchased within the Maximum Dwell Time for a Noncompliant Mortgage Loan or is ineligible to be a Noncompliant Mortgage Loan because
the aggregate original Asset Value of other Purchased Mortgage Loans that are deemed to be Noncompliant Mortgage Loans is equal to or greater than the Type Sublimit for Noncompliant Mortgage Loans; 

(b) that is the subject of fraud by any Person involved in the origination of such Mortgage Loan and such fraud shall not have been remedied within three
(3) Business Days after receipt of notice from Buyer to do so; 
 (c) where the related Mortgaged Property is the subject of material damage or waste
and such damage or waste shall not have been remedied within three (3) Business Days after receipt of notice from Buyer to do so; 
 (d) in connection
with which any other breach of a warranty or representation set forth in Section 8.2 occurs and remains uncured for a period of ten (10) calendar days; 

(e) in connection with which a default occurs under the Purchased Mortgage Loan and remains uncured for a period of ten (10) calendar days; or 

(f) where the related Mortgagor fails to make the first payment due under the Mortgage Note on or before the applicable due date, including any days of grace,
and such default shall not have been remedied within three (3) Business Days after receipt of notice from Buyer to do so; provided, however, that with respect to any Nonperforming/Subperforming Mortgage Loan where specific payment conditions
have been set forth in the Transactions Terms Letter, such Nonperforming/Subperforming Mortgage Loan shall only be deemed a Defective Mortgage Loan for failure of the Mortgagor to make payment if such failure constitutes a breach of the such
specific payment conditions. 
 Document Deposit Fee: That fee, as set forth in the Transactions Terms Letter or otherwise indicated on
Buyer’s then-current schedule of fees, payable by Seller for each Mortgage Loan Document delivered to Buyer after the initial delivery date of the related Mortgage Loan File. 

Dry Mortgage Loan: A Mortgage Loan for which Buyer or its Custodian has possession of the related Mortgage Loan Documents, in a form and
condition acceptable to Buyer, prior to the payment of the Purchase Price. 

  
 A-6 

 Effective Date: That effective date set forth in the Transactions Terms Letter. 

Electronic Tracking Agreement: An Electronic Tracking Agreement in a form acceptable to Buyer. 

Eligible Bank: A bank selected by Seller and approved by Buyer in writing and authorized to conduct trust and other banking business in any
state in which Seller conducts operations. 
 Eligible Mortgage Loan: A Mortgage Loan that meets the eligibility criteria set forth in the
Transactions Terms Letter. 
 ERISA: The Employee Retirement Income Security Act of 1974, as amended from time to time and any successor
statute. 
 ERISA Affiliate: Any person (as defined in section 3(9) of ERISA) that together with Seller or any of its subsidiaries would be a
member of the same “controlled group” within the meaning of Section 414(b), (m), (c) and (o) of the Internal Review Code of 1986, as amended. 

Executive Management: Seller’s (i) chairman of the board of directors, (ii) chief executive officer, (iii) president,
(iv) chief financial officer, (v) chief operations officer, and (vi) chief legal officer, as applicable. 
 Expanded Criteria Mortgage
Loan: Unless defined otherwise in the Transactions Terms Letter, a first lien mortgage loan underwritten to the same high credit standards as a Conventional Conforming Mortgage Loan except with respect to loan programs and parameters that
may have broader specifications of eligibility. 
 Event of Default: Any of the conditions or events set forth in Section 11.1.

 Expiration Date: The Expiration Date set forth in the Transactions Terms Letter for the expiration of this Agreement. 

Facility Fee: The non-refundable, annual commitment fee, as set forth in the Transactions Terms Letter. 

Fannie Mae: The Federal National Mortgage Association and any successor thereto. 

Fannie Mae Guide: The Fannie Mae MBS Selling and Servicing Guide, as such Guide may hereafter from time to time be amended. 

FHA: The Federal Housing Administration of the United States Department of Housing and Urban Development and any successor thereto. 

FHA Streamline Refinance Mortgage Loan: A Government Mortgage Loan originated and underwritten in accordance with the “FHA streamline
refinance” program and FHA regulations. 
 FICO Score: The credit score of the Mortgagor provided by Fair, Isaac & Company, Inc.
or such other organization providing credit scores on the origination date of a Mortgage Loan; provided, that if (a) two separate credit scores are obtained on such origination date, the FICO Score shall be the lower credit score; and
(b) three separate credit scores are obtained on such origination date, the FICO Score shall be middle credit score. 

  
 A-7 

 File Fee: That fee, as set forth in the Transactions Terms Letter or otherwise indicated on
Buyer’s then current schedule of fees, payable by Seller upon submission of the related Asset Data Record whether or not the Transaction is actually made. 

Foreign National Mortgage Loan: A first lien Agency Eligible Mortgage Loan (i) that is eligible only for Fannie Mae, (ii) as to which
the related Mortgagor is a citizen of any country other than the United States, (iii) that is a secondary residence, (iv) that is originated and underwritten in compliance with the Seller’s underwriting guidelines, and (v) that
is approved by Buyer in its sole discretion. 
 Freddie Mac: The Federal Home Loan Mortgage Corporation and any successor thereto. 

Funding Draft Fee: That fee, as set forth in the Transactions Terms Letter or otherwise indicated on Buyer’s then-current schedule of fees,
payable by Seller for each payment of the Purchase Price by funding draft. 
 GAAP: Generally accepted accounting principles set forth in the
opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and the statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other
entity as may be approved by a significant segment of the accounting profession and that are applicable to the circumstances as of the date of determination. 

Ginnie Mae: Government National Mortgage Association or any successor thereto. 

Government Mortgage Loan: Unless defined otherwise in the Transactions Terms Letter, a first lien mortgage loan, other than a
Nonperforming/Subperforming Mortgage Loan, that is (i)(a) eligible for insurance by FHA and is so insured or is subject to a current binding and enforceable commitment for such insurance pursuant to the provisions of the National Housing Act, as
amended; (b) eligible to be guaranteed by the VA and is so guaranteed or is subject to a current binding and enforceable commitment for such guarantee pursuant to the provisions of the Servicemen’s Readjustment Act, as amended; or
(c) eligible to be guaranteed by the RD and is so guaranteed pursuant to the provisions of the RD Regulations and (ii) is otherwise eligible for inclusion in a Ginnie Mae mortgage-backed security pool. 

Governmental Authority: With respect to any Person, any nation or government, any state or other political subdivision, agency or
instrumentality thereof, any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government and any court or arbitrator having jurisdiction over such Person, any of its Subsidiaries or any
of its properties. 
 Guarantee: A guarantee signed by a guarantor, in a form acceptable to Buyer. 

Handbook: The guide prepared by Buyer containing additional policies and procedures, as same may be amended from time to time. 

Haircut: With respect to each Transaction, if the Purchase Price is less than par, an amount equal to the difference between par and the
Purchase Price, which shall be considered a “settlement payment” as defined in Bankruptcy Code Section 741(8). 
 HARP Mortgage
Loan: Unless otherwise defined in the Transactions Terms Letter, a Mortgage Loan that fully conforms to the Home Affordable Refinance Program (as such program is amended, supplemented or otherwise modified, from time to time), and is
referred to by Fannie Mae as a “Refi Plus mortgage loan” or “DU Refi Plus mortgage loan”, and by Freddie Mac as a “Relief Refinance Mortgage”. 

  
 A-8 

 HELOC 1st Mortgages: Unless defined otherwise
in the Transactions Terms Letter, a first lien mortgage loan that is a home equity line of credit underwritten in accordance with Seller’s underwriting guidelines for HELOCs, as same have been approved by Buyer. 

HELOC Mortgage Loan: Unless defined otherwise in the Transactions Terms Letter, a home equity line of credit underwritten in accordance with
Seller’s underwriting guidelines for HELOCs, as same have been approved by Buyer. 
 HomePath Mortgage Loan: Unless otherwise defined in
the Transactions Terms Letter, a Mortgage Loan that fully conforms to Fannie Mae’s HomePath mortgage loan program (as such program is amended, supplemented or otherwise modified, from time to time), and is referred to as a “HomePath
Mortgage” by Fannie Mae; provided, that such HomePath mortgage loan is not a “HomePath Renovation Mortgage” pursuant to the terms of such HomePath mortgage loan program. 

HomePath Renovation Mortgage Loan: Unless otherwise defined in the Transactions Terms Letter, a Mortgage Loan that fully conforms to Fannie
Mae’s HomePath mortgage loan program (as such program is amended, supplemented or otherwise modified, from time to time), and is referred to as a “HomePath Renovation Mortgage” by Fannie Mae pursuant to the terms of such HomePath
mortgage loan program. 
 HUD: The United States Department of Housing and Urban Development or any successor thereto. 

Insolvency Event: The occurrence of any of the following events: 

(a) such Person shall become insolvent or generally fail to pay, or admit in writing its inability to pay, its debts as they become due, or shall voluntarily
commence any proceeding or file any petition under any bankruptcy, insolvency or similar law or seeking dissolution, liquidation or reorganization or the appointment of a receiver, trustee, custodian, conservator or liquidator for itself or a
substantial portion of its property, assets or business or to effect a plan or other arrangement with its creditors, or shall file any answer admitting the jurisdiction of the court and the material allegations of an involuntary petition filed
against it in any bankruptcy, insolvency or similar proceeding, or shall be adjudicated bankrupt, or shall make a general assignment for the benefit of creditors, or such Person, or a substantial part of its property, assets or business, shall be
subject to, consent to or acquiesce in the appointment of a receiver, trustee, custodian, conservator or liquidator for itself or a substantial property, assets or business; 

(b) corporate action shall be taken by such Person for the purpose of effectuating any of the foregoing; 

(c) an order for relief shall be entered in a case under the Bankruptcy Code in which such Person is a debtor; or 

(d) involuntary proceedings or an involuntary petition shall be commenced or filed against such Person under any bankruptcy, insolvency or similar law or
seeking the dissolution, liquidation or reorganization of such Person or the appointment of a receiver, trustee, custodian, conservator or liquidator for such Person or of a substantial part of the property, assets or business of such Person, or any
writ, order, judgment, warrant of attachment, execution or similar process shall be issued or levied against a substantial part of the property, assets or business of such Person, and such proceeding or petition shall not be dismissed, or such
execution or similar process shall not be released, vacated or fully bonded, within sixty (60) days after commencement, filing or levy, as the case may be. 

Insurer: A private mortgage insurer, which is acceptable to Buyer in its sole and good faith discretion. 

  
 A-9 

 Interest Only Mortgage Loan: A Mortgage Loan which, by its terms, requires the related Mortgagor to
make monthly payments of only accrued interest for a certain period of time following origination. After such interest-only period, the loan terms provide that the Mortgagor’s monthly payment will be recalculated to cover both interest and
principal so that such Mortgage Loan will amortize fully on or prior to its final payment date. 
 Irrevocable Closing Instructions: Closing
instructions, including wire instructions, in the form of Exhibit B issued in connection with funds disbursed for the funding of a Wet Mortgage Loan. 

Jumbo Asset Depletion Mortgage Loan: A first lien mortgage loan that (a) is not a Qualified Mortgage and (b) was originated by Seller
or a third party originator and acquired by Seller in accordance with Seller’s origination and/or underwriting guidelines, taking into account the related Mortgagor’s documented and qualifying income from existing assets other than wages
and salaries. 
 Jumbo High DTI Mortgage Loan: A Jumbo Mortgage Loan which meets the criteria set forth in the Transactions Terms Letter. 

Jumbo High LTV Mortgage Loan: A Jumbo Mortgage Loan which meets the criteria set forth in the Transactions Terms Letter. 

Jumbo Interest Only Mortgage Loan: A Jumbo Mortgage Loan that is an Interest Only Mortgage Loan. 

Jumbo Mortgage Loan: Unless defined otherwise in the Transactions Terms Letter, a first lien mortgage loan or Cooperative Loan underwritten to
the same high standards as a Conventional Conforming Mortgage Loan except with respect to the original principal balance, which is greater than that permitted by the Agencies but less than one million ($1,000,000) dollars. 

Jumbo Non-Warrantable Condo Mortgage Loan: Any first lien mortgage loan as to which the related Mortgaged Property constitutes a condominium
unit that was not originated in compliance with, or no longer satisfies the requirements of, the applicable Agency guidelines. 
 LIBOR Floor:
As defined in the Transaction Terms Letter. 
 Liquidity: As of any date of determination, the sum of (a) Seller’s unrestricted
and unencumbered cash and Cash Equivalents and (b) the balance in the Over/Under Account exclusive of funds held due to a Margin Deficit or Margin Call. By way of example but not limitation, cash in escrow and/or impound accounts shall not be
included in this calculation. 
 Manufactured Home Loan: A Conventional Conforming Mortgage Loan or Government Mortgage Loan secured by a
manufactured home (as defined by HUD) provided that (a) such manufactured home is attached to a permanent foundation, is no longer transportable (mobile homes) and is considered and treated as “real estate” under applicable law
(b) such manufactured home is originated in compliance with Title II under FHA 203(b) and (c) such Conventional Conforming Mortgage Loan or Government Mortgage Loan is eligible for securitization by an Agency pursuant to the terms of the
applicable Agency guidelines. 
 Margin: With respect to each Transaction, the pricing rate set forth in the Transactions Terms Letter that
shall be added to the Applicable Pricing Rate to determine the pricing rate for the Purchase Price. 
 Margin Call: A margin call, as defined
and described in Section 6.3. 

  
 A-10 

 Margin Deficit: A margin deficit, as defined and described in Section 6.3. 

Market Value: With respect to a Mortgage Loan, the fair market value of the Mortgage Loan as determined by Buyer in its sole discretion without
regard to any market value assigned to such Mortgage Loan by Seller. Buyer’s determination of Market Value shall be conclusive upon the parties, absent manifest error on the part of Buyer. At no time and in no event will the Market Value of a
Purchased Mortgage Loan be greater than the Market Value of such Purchased Mortgage Loan on the Purchase Date. Any Mortgage Loan that is not a Purchased Mortgage Loan shall have a Market Value of zero. 

Material and Adverse Change: Any of the following, in each case, as such material adverse effect or material change is determined by Buyer:
(i) the occurrence of a material adverse change with respect to the business, operations, properties, financial condition or prospects of Seller, or any Affiliate that is a party to any Principal Agreement taken as a whole, (ii) any
material adverse effect on the ability of Seller, or any Affiliate that is a party to any Principal Agreement to perform its obligations under any of the Principal Agreements to which it is a party and to avoid any Event of Default, (iii) a
material adverse effect on the legality, validity, binding effect or enforceability of any of the Principal Agreements against Seller or any Affiliate that is a party to any Principal Agreement, (iv) a material adverse effect on the rights and
remedies of Buyer under any of the Principal Agreements, or (v) a material adverse effect on the marketability, collectability, value or enforceability of a material portion of the Purchased Assets. 

Maximum Dwell Time: The maximum number of days a Purchased Mortgage Loan can be not repurchased by Seller before such Purchased Mortgage Loan
may be deemed to be a Noncompliant Mortgage Loan and with respect to a Noncompliant Mortgage Loan, the maximum number of days that a Purchased Mortgage Loan can be deemed to be a Noncompliant Mortgage Loan before such Noncompliant Mortgage Loan may
be deemed to be a Defective Mortgage Loan, all as set forth in the Transactions Terms Letter. 
 Minimum Over/Under Account Balance: The
minimum balance required to be maintained in the Over/Under Account, as set forth in the Transactions Terms Letter. 
 MERS: Mortgage
Electronic Registration Systems, Inc., a Delaware corporation, or any successor in interest thereto. 
 Mortgage: A first-lien or second-lien
mortgage, deed of trust, security deed or similar instrument on either (i) with respect to a Mortgage Loan other than a Cooperative Loan, improved real property or (ii) with respect to a Cooperative Loan, the Proprietary Lease and related
Cooperative Shares. 
 Mortgage-Backed Securities: Any security, including, without limitation, a participation certificate, that is
(a) guaranteed by Ginnie Mae that represents an interest in a pool of mortgages, deeds of trusts or other instruments creating a lien on real property; (b) issued by Fannie Mae or Freddie Mac that represents interests in such a pool; or
(c) privately placed and represents undivided interests in or otherwise supported by such a pool. 
 Mortgage Loan: Any mortgage loan of
a Type identified on any schedule attached to the Transactions Terms Letter, which mortgage loan may be either a Dry Mortgage Loan or a Wet Mortgage Loan. 

Mortgage Loan Documents: With respect to each Purchased Mortgage Loan: 

(a) the original Mortgage Note evidencing the Mortgage Loan, endorsed by Seller in blank, with a complete chain from the originator to Seller; 

  
 A-11 

 (b) an original assignment in blank, executed by Seller, for the Mortgage securing the Mortgage Note, in
recordable form but unrecorded, with a complete chain of intervening assignments from the originator to Seller; 
 (c) a certified or true copy of the
Mortgage securing the Mortgage Note bearing evidence of the recordation of such Mortgage with the appropriate governmental authority, or if such recording information is unavailable because the document has not yet come back from the recording
office, then a copy of evidence that such original Mortgage was sent out for recording by a Closing Agent; and 
 (d) an original or copy of the title
insurance policy insuring the first lien or second lien position of the Mortgage, as applicable, in at least the original principal amount of the related Mortgage Note and containing only those exceptions permitted by the Purchase Commitment or an
unconditional commitment to issue such a title insurance policy. 
 Mortgage Loan File: With respect to each Mortgage Loan, that file that
contains the Mortgage Loan Documents and is delivered to Buyer or its Custodian. 
 Mortgage Note: A promissory note secured by a Mortgage and
evidencing a Mortgage Loan. 
 Mortgaged Property: The real property or other Cooperative Loan collateral securing repayment of the
debt evidenced by a Mortgage Note. 
 Mortgagor: The obligor of a Mortgage Loan. 

Noncompliant Mortgage Loan: As of any date of determination, a Purchased Mortgage Loan that has been: 

(a) not repurchased within the Maximum Dwell Time permitted, given the type of Purchased Mortgage Loan, but less than the Maximum Dwell Time for Noncompliant
Mortgage Loans; 
 (b) rejected by the Approved Investor set forth in the related Purchase Commitment; or 

(c) determined to be ineligible for sale as a Purchased Mortgage Loan of the type originally stipulated. 

Noncompliant Mortgage Loan Fee: A one-time fee, as set forth in the Transactions Terms Letter or otherwise indicated on Buyer’s then
current schedule of fees, payable by Seller for each Purchased Mortgage Loan that is deemed to be a Noncompliant Mortgage Loan. 

Nonperforming/Subperforming Mortgage Loan: Unless defined otherwise in the Transactions Terms Letter, a first or second lien Mortgage Loan that
when originated qualified as a Conventional Conforming Mortgage Loan, Government Mortgage Loan, Expanded Criteria Mortgage Loan, Subprime Mortgage Loan, Closed-End Second Lien Mortgage Loan or HELOC Mortgage Loan, however, such Mortgage Loan has a
history of late payments during the past twelve months (the exact number permitted late payment to be determined by Buyer in its sole and good faith discretion) or is currently past due more than thirty (30) days. 

One-Month LIBOR: The daily rate per annum (rounded to three (3) decimal places) for one-month U.S. dollar denominated deposits as offered
to prime banks in the London interbank market, as published on the Official ICE LIBOR Fixings page by Bloomberg or in the Wall Street Journal as of the date of determination; provided, that if Buyer determines that any law, regulation, treaty or
directive or any 

  
 A-12 

 change therein or in the interpretation or application thereof, or any circumstance materially and adversely
affecting the London interbank market, shall make it unlawful, impractical or commercially unreasonable for Buyer to enter into or maintain Transactions as contemplated by this Agreement using One-Month LIBOR, then Buyer may, in addition to its
rights under Section 4.5 herein, select an alternative rate of interest or index in its discretion. 
 Other Mortgage Loan
Documents: In addition to the Mortgage Loan Documents, the following: (i) the original recorded Mortgage, if not included in the Mortgage Loan Documents; (ii) the original policy of mortgagee’s title insurance or unexpired
commitment for a policy of mortgagee’s title insurance, if not included in the Mortgage Loan Documents; (iii) the original Closing Protection Letter; (iv) the original Purchase Commitment; (v) the original FHA certificate of
insurance or commitment to insure, the VA certificate of guaranty or commitment to guaranty, the RD loan guaranty and the private mortgage insurer’s certificate or commitment to insure, as applicable; (vi) the survey, flood certificate,
hazard insurance policy and flood insurance policy, as applicable; (vii) the original of any assumption, modification, written assurance or substitution of liability agreement, if any; (viii) copy of each instrument necessary to complete
identification of any exception set forth in the exception schedule in the title policy; (ix) the loan application; (x) verification of employment and income, if applicable; (xi) verification of source and amount of downpayment;
(xii) credit report on Mortgagor; (xiii) appraisal of the Mortgaged Property (or in the case of any HARP Mortgage Loan, an appraisal or a waiver thereof, and/or a point value estimate as permitted by the applicable Agency guidelines);
(xiv) the original executed disclosure statement; (xv) tax receipts, insurance premium receipts, ledger sheets, payment records, insurance claim files and correspondence, current and historical computerized data files, underwriting
standards used for origination and all other related papers and records; (xvi) copies of all documentation in connection with the underwriting and origination of any Purchased Mortgage Loan that evidences compliance with, (1) with respect
to all Purchased Mortgage Loans other than Bond Loans –1st Liens, the Ability to Repay Rule and, (2) with respect to all Purchased Mortgage Loans other than Bond Loans – 1st Liens and Permitted Non-Qualified Mortgage Loans, the QM
Rule; and (xvii) all other documents relating to the Purchased Mortgage Loan. 
 Over/Under Account: That account maintained by Buyer, as
described in Section 3.5. 
 Payment Date: The fifth (5th) day of each
month, or if such date is not a Business Day, the Business Day immediately preceding the fifth (5th) day of the month; provided, however, Buyer may change the Payment Date from time to time
upon thirty (30) days prior notice to Seller. 
 Permitted Non-Qualified Mortgage Loan: A Jumbo Interest Only Mortgage Loan, Jumbo High
DTI Mortgage Loan or Jumbo Asset Depletion Mortgage Loan. 
 Person: Includes natural persons, corporations, limited partnerships, general
partnerships, limited liability companies, joint stock companies, joint ventures, associations, companies, trusts, banks, trust companies, land trusts, business trusts or other organizations, whether or not legal entities, and governments and
agencies and political subdivisions thereof. 
 Personal Identification Number or PIN: An electronic identification number, unique to Seller,
consisting of any combination of symbols, codes, letters or numerals. 
 Plan: Any multiemployer plan or single-employer plan as defined in
section 4001 of ERISA, that is maintained and contributed to by (or to which there is an obligation to contribute of), or at any time during the five (5) calendar years preceding the date of this Agreement was maintained or contributed to by
(or to which there is an obligation to contribute of), Seller or by a subsidiary of Seller or an ERISA Affiliate. 

  
 A-13 

 Potential Default: The occurrence of any event or existence of any condition that, but for the
giving of notice, the lapse of time, or both, would constitute an Event of Default. 
 Power of Attorney: That certain power of attorney
attached hereto as Exhibit H. 
 Principal Agreements: This Agreement, the Transactions Terms Letter, the Electronic Transfer
Agreement, any Servicing Agreement, the Guarantee(s), if applicable, and all other documents and instruments evidencing the Transactions, as same may from time to time be supplemented, modified or amended, and any other agreement entered into
between Buyer and Seller in connection herewith or therewith. 
 Proceeds: Whatever is receivable or received when Purchased Assets or
proceeds is sold, collected, exchanged or otherwise disposed of, whether such disposition is voluntary or involuntary, and includes, without limitation, all rights to payment, including return premiums, with respect to any insurance relating
thereto. 
 Property Charges: All taxes, fees, assessments, water, sewer and municipal charges (general or special) and all insurance
premiums, leasehold payments or ground rents. 
 Proprietary Lease: The lease on a Cooperative Unit evidencing the possessory interest of the
owner of the Cooperative Shares in such Cooperative Unit. 
 Purchase Advice: In connection with each wire transfer to be made to Buyer by
Seller or an Approved Investor, a written or electronic notification setting forth (a) the loan number assigned by Buyer or last name of the Mortgagor for each Mortgage Loan that is related to the Transaction in connection with which a payment
is being made; (b) the amount of the wire transfer to be applied in the Transaction; and (c) the total amount of the wire. 
 Purchase
Commitment: A trade ticket or other written commitment, in form and substance satisfactory to Buyer, issued in favor of Seller by an Approved Investor pursuant to which that Approved Investor commits to purchase one or more Purchased
Mortgage Loans, along with the related correspondent or whole loan purchase agreement by and between Seller and the Approved Investor, in form and substance satisfactory to Buyer, governing the terms and conditions of any such purchases. 

Purchase Date: The date on which Buyer purchases a Purchased Mortgage Loan from Seller. If the Purchase Price is made by wire transfer, the
Purchase Date shall be the date such funds are wired. If the Purchase Price is made by a cashiers check, the Purchase Date shall be the date such check is issued by the bank. If the Purchase Price is paid by a funding draft, the Purchase Date shall
be the date that the draft is posted by the bank on which the draft is drawn. 
 Purchase Price: The price at which each Purchased Mortgage
Loan is transferred by Seller to Buyer which shall be equal to, the related Type Purchase Price Percentage multiplied by the least of: (i) the Market Value of such Purchased Mortgage Loan, (ii) the outstanding principal balance of such
Purchased Mortgage Loan, (iii) the purchase price paid by Seller for such Purchased Mortgage Loan, if applicable, and (iv) the purchase price committed by the related Approved Investor, if applicable. 

  
 A-14 

 Purchased Assets: All now existing and hereafter arising right, title and interest of Seller in,
under and to the following: 
 (a) all Mortgage Loans, now owned and hereafter acquired, including all Mortgage Notes and Mortgages evidencing such Mortgage
Loans and the related Mortgage Loan Documents, for which a Transaction has been entered into between Buyer and Seller hereunder and for which the Repurchase Price has not been paid in full and all Mortgage Loans, including all Mortgage Notes and
Mortgages evidencing such Mortgage Loans and the related Mortgage Loan Documents, which, from time to time, are delivered, or caused to be delivered, to Buyer (including delivery to a custodian or other third party on behalf of Buyer) as additional
security for the performance of Seller’s obligations hereunder; 
 (b) all Mortgage-Backed Securities, now owned or hereafter acquired by Seller, that
are supported by any Mortgage Loan constituting Purchased Assets hereunder, all right to the payment of monies in non-cash distributions on account thereof and all new, substituted and additional securities at any time issued with respect thereto;

 (c) all rights of Seller under all Purchase Commitments, now existing and hereafter arising, covering any part of the Purchased Assets, all rights to
deliver such Mortgage Loans and Mortgage-Backed Securities to permanent investors and other purchasers pursuant thereto and all Proceeds resulting from the disposition of such Purchased Assets thereto; 

(d) all now existing and hereafter established accounts maintained with broker-dealers by Seller for the purpose of carrying out transactions under Purchase
Commitments relating to any part of the Purchased Assets; 
 (e) all now existing and hereafter arising rights of Seller to service, administer and/or
collect on the Mortgage Loans included as Purchased Assets hereunder and any and all rights to the payment of monies on account thereof; 
 (f) all now
existing and hereafter arising accounts, contract rights and general intangibles constituting or relating to any of the Purchased Assets; 
 (g) all mortgage
insurance and all commitments issued by Insurers to insure or guaranty any Mortgage Loans included as Purchased Assets, including, without limitation, the right to receive all insurance proceeds and condemnation awards that may be payable in respect
of the premises encumbered by any Mortgage; and all other documents or instruments delivered to Buyer in respect of the Mortgage Loans included as Purchased Assets; 

(h) all documents, files, surveys, certificates, correspondence, appraisals, computer programs, tapes, discs, cards, accounting records and other information
and data of Seller relating to Mortgage Loans included as Purchased Assets including, without limitation, the Other Mortgage Loan Documents; 
 (i) all
rights, but not any obligations or liabilities, of Seller with respect to the Approved Investors; 
 (j) all property of Seller, in any form or capacity now
or at any time hereafter in the possession or control of Buyer, including, without limitation, all deposit accounts and any funds at any time held therein, into which Proceeds of the foregoing Purchased Assets are at any time deposited; 

(k) all products and Proceeds of the foregoing Purchased Assets; and 

(l) any funds of Seller at any time deposited or held in the Over/Under Account. 

Purchased Mortgage Loan: A Mortgage Loan that has been purchased by Buyer from Seller in connection with a Transaction and which has not been
repurchased by Seller hereunder. 
 QM Rule: 12 CFR 1026.43(e), including all applicable official staff commentary. 

  
 A-15 

 Qualified Mortgage: A Mortgage Loan that satisfies the criteria for a “qualified
mortgage” as set forth in the QM Rule. 
 RD: The United States Department of Agriculture Rural Development and any successor thereto.

 RD Regulations: The regulations promulgated by the RD under the Consolidated Farm and Rural Development Act of 1977; and other RD issuances
relating to rural housing loans codified in the Code of Federal Regulations. 
 Rebuttable Presumption Qualified Mortgage: A Qualified
Mortgage with an annual percentage rate that exceeds the average prime offer rate for a comparable mortgage loan as of the date the interest rate is set by 1.5 or more percentage points for a first-lien Mortgage Loan or by 3.5 or more percentage
points for a subordinate-lien Mortgage Loan. 
 Recognition Agreement: An agreement among a Cooperative Corporation, a lender and a Mortgagor
with respect to a Cooperative Loan whereby such parties (i) acknowledge that such lender may make, or intends to make, such Cooperative Loan, and (ii) make certain agreements with respect to such Cooperative Loan. 

Reportable Event: An event described in Section 4043(b) of ERISA with respect to a Plan as to which the thirty (30) days notice
requirement has not been waived by the Pension Benefit Guaranty Corporation. 
 Repurchase Acceleration Event: Any of the conditions or events
set forth in Section 4.2. 
 Repurchase Date: The date on which Seller is to repurchase a Purchased Mortgage Loan subject to a
Transaction from Buyer, as specified in the related Transactions Terms Letter and/or Asset Data Record, or if not so specified, the date identified to Buyer by Seller as the date that the related Purchased Mortgage Loan is to be sold pursuant to a
Purchase Commitment; provided, however, that if the Repurchase Date is not a date within the Maximum Dwell Time, Buyer may, at its discretion, deem such Purchased Mortgage Loan a Noncompliant Mortgage Loan and Buyer may pursue any rights and
remedies accorded Buyer hereunder as a result thereof, including, without limitation, charging Seller any applicable fees as a result thereof. The Repurchase Date for each Purchased Mortgage Loan shall in no event occur later than one year after the
Purchase Date of such Purchased Mortgage Loan. 
 Repurchase Price: The price at which a Purchased Mortgage Loan is to be transferred from
Buyer or its designee to Seller upon termination of a Transaction, which shall be determined as the sum of (i) the Purchase Price, (ii) any applicable fees owed by Seller in connection with the Purchased Mortgage Loan and (iii) the
price differential due on such Purchase Price pursuant to Section 2.6 as of the date of such determination. 
 Repurchase Transaction:
A repurchase transaction, as defined and described in Section 6.6. 
 Safe Harbor Qualified Mortgage: A Qualified Mortgage
with an annual percentage rate that does not exceed the average prime offer rate for a comparable mortgage loan as of the date the interest rate is set by 1.5 or more percentage points for a first-lien Mortgage Loan or by 3.5 or more percentage
points for a subordinate-lien Mortgage Loan. 
 Seller’s Underwriting Guidelines: The standards, procedures and guidelines of Seller for
underwriting Mortgage Loans, including any updates thereto from time to time, in each case as acceptable to Buyer in its sole discretion. 

  
 A-16 

 Servicer: Seller, Cenlar FSB, or such other entity responsible for servicing of the Purchased
Mortgage Loans, which has been approved by Buyer in writing, or any successor or permitted assigns thereof. 
 Servicer Notice: The notice
acknowledged by the Servicer substantially in the form of Exhibit K hereto. 
 Servicing Agreement: If the Purchased Mortgage Loans are
serviced by any third party servicer, the agreement with that third party in form and substance acceptable to Buyer. 
 Shipping Fee: That
fee, as set forth in the Transactions Terms Letter or otherwise indicated on Buyer’s then current schedule of fees, payable by Seller to Buyer for each Mortgage Loan File, or portion thereof, Buyer delivers to Seller, an Approved Investor or
other designee. 
 Standard Status: As of any date of determination, the Purchased Mortgage Loan has been subject to a Transaction for less
than the Maximum Dwell Time and is not a Noncompliant Mortgage Loan or a Defective Mortgage Loan. 
 Stock Certificate: With respect to a
Cooperative Loan, the certificates evidencing ownership of the Cooperative Shares issued by the Cooperative Corporation. 
 Strict Compliance:
The compliance of Seller and Mortgage Loans that are intended to be Agency Eligible Mortgage Loans with the requirements of the applicable Agency guidelines, as applicable and as amended by any agreements between Seller and the applicable Agency,
sufficient to enable Seller to issue and Ginnie Mae to guarantee or Fannie Mae or Freddie Mac to issue and guarantee a Mortgage-Backed Security; provided, that until copies of any such agreements between Seller and Fannie Mae, Freddie Mac or Ginnie
Mae, as applicable, have been provided to Buyer by Seller and agreed to by Buyer, such agreements shall be deemed, as between Seller and Buyer, not to amend the requirements of the applicable Agency guidelines. 

Subordinated Debt: Debt of Seller that has been subordinated to Buyer as provided in this Agreement or as otherwise approved by Buyer. 

Subsidiary: With respect to any Person, any corporation, partnership or other entity of which at least a majority of the securities or other
ownership interests having by the terms thereof ordinary voting power to elect a majority of the board of directors or other persons performing similar functions of such corporation, partnership or other entity (irrespective of whether or not at the
time securities or other ownership interests of any other class or classes of such corporation, partnership or other entity shall have or might have voting power by reason of the happening of any contingency) is at the time directly or indirectly
owned or controlled by such Person or one or more Subsidiaries of such Person. 
 Successor Servicer: The subservicer of the Purchased
Mortgage Loans appointed by Buyer as described in Section 6.2(h) of this Agreement. 
 Tangible Net Worth: As of any date of
determination, (i) the net worth of Seller and its consolidated Subsidiaries, on a combined basis, determined in accordance with GAAP, minus (ii) all intangibles determined in accordance with GAAP (including, without limitation, goodwill,
capitalized financing costs and capitalized administration costs but excluding originated and purchased mortgage servicing rights) and any and all advances to, investments in and receivables held from Affiliates, and minus (iii) loans held for
investment and real estate owned net of acceptable financing (financing must be deemed acceptable by Buyer). 

  
 A-17 

 Tax Distributions: Tax Distributions, as defined and set forth in the limited liability company
agreement of Seller, that are intended to provide cash to the members to allow them to pay income taxes with respect to taxable income of Seller. 

Temporary Modification to Aggregate Transaction Limit: Shall have the meaning assigned thereto in Section 3.9(a). 

Temporary Modification to Minimum Over/Under Account Balance: Shall have the meaning assigned thereto in Section 3.9(b). 

Temporary Modification to Type Sublimit: Shall have the meaning assigned thereto in Section 3.9(c). 

Texas Cash-Out Refinance Mortgage Loan: A Mortgage Loan originated in the state of Texas pursuant to Article XVI, Section 50(a)(6) of the
Texas Constitution. 
 Total Liabilities: As of any date of determination, the sum of (i) the total liabilities of Seller on any given
date of determination, to be determined in accordance with GAAP consistent with those applied in the preparation of Seller’s financial statements, plus (ii) to the extent not already included under GAAP, the total aggregate outstanding
amount owed by Seller under any purchase, repurchase, refinance or other similar credit arrangements, plus (iii) to the extent not already included under GAAP, any “off balance sheet” purchase, repurchase, refinance or other similar
credit arrangements, minus (iv) non-recourse debt. 
 Transaction: As set forth in the Recitals of this Agreement. 

Transaction Request Deadline: That time, as set forth in the Transactions Terms Letter, by which Seller must submit to Buyer certain documents
in order to initiate a Transaction. 
 Transaction Requirements: Those terms and conditions, as set forth in the Transactions Terms Letter,
applicable to a specific type of Purchased Mortgage Loan. 
 Transactions Terms Letter: The document executed by Buyer and Seller, referencing
this Agreement and setting forth certain specific terms, and any additional terms, with respect to this Agreement. 
 Type: A specific type of
mortgage loan, as set forth in the Transactions Terms Letter. 
 Type Purchase Price Percentage: With respect to each type of Purchased
Mortgage Loan that corresponds to the Type, the corresponding purchase price percentage, as set forth in the Transactions Terms Letter. 
 Type
Margin: With respect to each type of Purchased Mortgage Loan that corresponds to the Type, the corresponding annual rate of interest that shall be added to the Applicable Pricing Rate to determine the annual rate of interest for the related
Purchase Price, as set forth in the Transactions Terms Letter. 
 Type Sublimit: Any of the applicable Type Sublimits, as set forth in the
Transactions Terms Letter. 
 Underwriter Approval: Written evidence, in form and substance acceptable to Buyer, that a Purchased Mortgage
Loan has been underwritten to the satisfaction of the Approved Investor issuing the applicable Purchase Commitment. 

  
 A-18 

 Unused Facility Fee: A fee, as set forth in the Transactions Terms Letter or otherwise indicated on
Buyer’s then current schedule of fees, payable by Seller quarterly in arrears based upon the unused portion of the Aggregate Transaction Limit; provided, however, that no fee shall be due if the average difference between the Aggregate
Transaction Limit and actual outstanding principal amount of all Transactions, calculated on a daily basis, during such quarter is less than that percent of the Aggregate Transaction Limit set forth in the Transactions Terms Letter. 

USDA: The United States Department of Agriculture. 

VA: The Department of Veterans Affairs and any successor thereto. 

VA Streamline Refinance Mortgage Loan: A Government Mortgage Loan originated and underwritten in accordance with the “VA Streamline
Refinance” program and VA regulations. 
 Warehouse Credit: The aggregate amount of credit, committed and uncommitted, available to
Seller through warehouse lines of credit, repurchase facilities or similar mortgage finance arrangements. 
 Wet Deficiency Fee: That fee, as
set forth in the Transactions Terms Letter or otherwise indicated on Buyer’s then current schedule of fees, payable by Seller for each calendar day that Seller fails to deliver to Buyer or its Custodian the Mortgage Loan Documents relating to
any Wet Mortgage Loan purchased by Buyer following expiration of the Wet Mortgage Loans Maximum Dwell Time. 
 Wet Mortgage Loan: A Mortgage
Loan as to which Buyer purchases from Seller by delivering funds to the applicable Closing Agent prior to receipt by Buyer or its Custodian of the related Mortgage Loan Documents, subject to Seller’s obligation to deliver the related Mortgage
Loan Documents within the Wet Mortgage Loans Maximum Dwell Time. 
 Wet Mortgage Loans Maximum Dwell Time: That period of time, as set forth
in the Transactions Terms Letter, by which Seller must deliver to Buyer or its designee the Mortgage Loan Documents for a Wet Mortgage Loan. 
 Wet
Mortgage Loans Sublimit: The maximum aggregate principal amount of Purchased Mortgage Loans that may be Wet Mortgage Loans at any time, as set forth in the Transactions Terms Letter. 

Wire Transfer Fee: That fee, as set forth in the Transactions Terms Letter or otherwise indicated on Buyer’s then current schedule of fees,
payable by Seller for each payment of the Purchase Price by wire transfer or for any payment (including the Repurchase Price) received by Buyer from Seller or its Approved Investor. 

  
 A-19 

 EXHIBIT B 

IRREVOCABLE CLOSING INSTRUCTIONS 
  

			
	July 17, 2015
		
	  
	 	(“Closing Agent”)
	
	  

	
	  

	
	Dear                                   
                                         
            
	
	Re: Irrevocable Closing Instructions

 Closing Protection Letter Issued By, if applicable:
                                         
        
 Ladies and Gentlemen: 

This letter is being sent in accordance with that Amended and Restated Master Repurchase Agreement dated as of July 17, 2015 (the “Agreement”)
between loanDepot.com, LLC (“Seller”) and Bank of America, N.A. (“Buyer”), the terms of which do not affect Closing Agent except as set forth herein. 

Pursuant to the Agreement, you have been identified as either: 
  

	•	 	the title insurer to close and provide title insurance on certain mortgage loans made by Seller; or 

  

	•	 	the closing agent to close and fund certain mortgage loans made by Seller and covered by the above referenced closing protection letter (the “Mortgage Loans”). 

From time to time, Buyer will wire to you, for the account of Seller, funds requested by Seller under the terms of the Agreement to be used by you for the
purpose of funding such Mortgage Loan(s) and for no other purpose. Notwithstanding anything to the contrary contained herein, you are not to distribute any of such funds to Seller. You must immediately return the funds to Buyer at the following
account if one of the following conditions occurs: 
  

	•	 	You do not close any Mortgage Loan within forty-eight (48) hours of the time you receive the applicable funds; or 

  

	•	 	You receive funds for a Mortgage Loan for which you have not been instructed by Seller to (a) obtain title insurance from the title insurance company specified in the above referenced closing protection letter or
(b) underwrite the title insurance. 

  

			
	Bank:	  	Bank of America, N.A.
	ABA No.:	  	 #########

	Account No.:	  	 ##########

	Credit:	  	Warehouse Lending – Payoff Account
	Reference:	  	loanDepot.com, LLC

  
 B-1 

 If the Mortgage Loan Documents (as described below) have not been delivered to Seller prior to the funding of the
Transaction, within forty eight (48) hours of closing any Mortgage Loan, unless otherwise instructed by Buyer, you must deliver to Seller, the following Mortgage Loan Documents: 

(a) the original mortgage note evidencing the Mortgage Loan, endorsed by Seller in blank, with a complete chain from the originator to Seller; 

(b) if in your possession, an original assignment in blank executed by Seller for the mortgage or deed of trust securing the mortgage note, in recordable form
but unrecorded, with a complete chain of intervening assignments from the originator to Seller; 
  

	(c)	a certified copy of the executed mortgage or deed of trust securing the mortgage note; and 

 (d) an original or
copy of the title insurance policy insuring the first lien or second lien position of the mortgage or deed of trust, as applicable, in at least the original principal amount of the related mortgage note and containing only those exceptions permitted
by the purchase commitment, as set forth in the final closing instructions referred to below, or an unconditional commitment to issue such a title insurance policy, or a preliminary report and instructions received from Seller relating to the
issuance of such a title insurance policy. 
 With respect to each Mortgage Loan for which you act as Closing Agent, Seller will deliver to you final
closing instructions specific to such Mortgage Loan. In the event that the terms of the final closing instructions contradict the terms of these irrevocable closing instructions, the terms of these irrevocable closing instructions shall govern.
Permission to change the scheduled closing date for any Mortgage Loan beyond the time permitted herein or permission to otherwise deviate from these irrevocable closing instructions must be furnished to you in a writing signed by Buyer and Seller.

 By your participation in the closing and funding of a Mortgage Loan as Closing Agent, you agree to act as Buyer’s bailee with respect to such
Mortgage Loan and the Mortgage Loan Documents referenced above and you thereby acknowledge your responsibility to Buyer as holder of an interest in such Mortgage Loan and to care for and protect Buyer’s interest in such Mortgage Loan. Facsimile
signatures on these instructions shall be deemed valid and binding to the same extent as the original. 
  

									
	Sincerely,	 		  		  	
			
	BANK OF AMERICA, N.A.	 		  	LOANDEPOT.COM, LLC
					
	By:	 	  
	 		  	By:	  	  

	Name:	 	  
	 		  	Name:	  	  

	Title:	 	  
	 		  	Title:	  	  

  
 B-2 

 EXHIBIT C 

SECRETARY’S CERTIFICATE 
 I,
            , am the duly elected Secretary of loanDepot.com, LLC (“Company”), and I hereby certify that: 

1. Each of the persons listed below has been duly elected to and now holds the office of the Company set forth opposite his or her name and is currently
serving, in such capacity, and the signature of each such person set forth opposite his or her title is his or her true and genuine signature: 
  

					
	 Name
	  	 Office
	  	 Signature

	  
	  	  
	  	  

	  
	  	  
	  	  

	  
	  	  
	  	  

	  
	  	  
	  	  

 2. Attached hereto as Exhibit A is a true and complete copy of the Articles of Incorporation of the Company (or its equivalent
if the Company is not a corporation), as in full force and effect. No amendment or other document relating to or affecting the Articles of Incorporation (or its equivalent) has been filed in the office of the Secretary of State of incorporation or
formation and no action has been taken by the Company or its shareholders, directors or officers in contemplation of the filing of any such amendment or other documents and no proceedings therefore have occurred; 

3. Attached hereto as Exhibit B is a true and complete copy of the By-laws of the Company (or its equivalent if the Company is not a corporation), as in full
force and effect, and such By-laws (or its equivalent) have not been amended, except for amendments included in the copy attached hereto; and 
 4. Attached
hereto as Exhibit C is true and complete copy of the resolutions duly and validly adopted either at a special or regular meeting or by unanimous consent that apply to the Amended and Restated Master Repurchase Agreement between the Company and Bank
of America, N.A., and such resolutions have not been amended, modified or rescinded in any respect and remain in full force and effect without modification or amendment as of the date hereof. 

 

							
	Dated:	 		 	By:	 	  

		 		 		 	Secretary

  
 C-1 

 EXHIBIT D 

RESOLUTIONS 
 WHEREAS, loanDepot.com, LLC
(the “Company”) desires to enter into mortgage loan purchase transactions (the “Transactions”) in an aggregate amount not to exceed Three Hundred Million Dollars ($300,000,000) with Bank of America, N.A. (“Buyer”)
pursuant to an Amended and Restated Master Repurchase Agreement substantially in the form attached hereto (the “Agreement”). 
 NOW, THEREFORE, IT
IS RESOLVED BY THE BOARD OF DIRECTORS (OR ITS EQUIVALENT) OF THE COMPANY THAT: 
 1. Company is hereby authorized and directed to enter into and execute each
of the following documents: 
  

	(a)	the Agreement between Company and Buyer, attached hereto; and 

  

	(b)	any and all other agreements and documents in connection with the Transactions, 

 Any one of the following
officers are separately and independently authorized and directed to execute and deliver the Agreement and any and all other agreements and documents related to the Transactions, and to do any and all things which he or she may deem necessary or
desirable in connection with the Transactions, including approving, executing and delivering any amendments or modifications to the Agreement. 
  

					
	Name/Title	  	Specimen Signature	  	
			
	  
	  	  
	  	
			
	  
	  	  
	  	
			
	  
	  	  
	  	
			
	  
	  	  
	  	
			
	  
	  	  
	  	

 3. Any one of the following officers, directors and/or employees is separately and independently authorized to take the
following actions in connection with the Agreement and Transactions: (a) request Transactions; (b) sign receipts acknowledging delivery of funds and documents from Buyer; (c) request and effect transfers of funds; and (d) ship
and release documents to Buyer: 
  

					
	Name/Title	  	Specimen Signature	  	Restrictions, if any
			
	  
	  	  
	  	  

			
	  
	  	  
	  	  

			
	  
	  	  
	  	  

			
	  
	  	  
	  	  

			
	  
	  	  
	  	  

			
	  
	  	  
	  	  

  
 D-1 

 4. The employees of Company are hereby appointed as assistant secretaries and vice presidents of Company, and, as
such, are authorized to, in the name of Company, do any of the following: 
 (a) to receive, endorse and collect all checks made payable to the order of
Company representing any payment on account of the Purchased Assets (as defined in the Agreement); 
 (b) to assign or endorse any mortgage, deed of trust,
promissory note or other instrument relating to the Purchased Assets; 
 (c) to correct any assignment, mortgage, deed of trust or promissory note or other
instrument relating to the Purchased Assets, including, without limitation, unendorsing and re-endorsing a promissory note to another investor; 
 (d) to
complete and execute lost note affidavits or other lost document affidavits relating to the Purchased Assets; 
 (e) to issue title requests and instructions
relating to the Purchased Assets; 
 (f) to give notice to any individual or entity of its interest in the Purchased Assets under the Agreement; and 

(g) to service and administer the Purchased Assets, including, without limitation, the receipt and collection of all sums payable in respect of the Purchased
Assets. 
 I,             , being the Secretary of Company, hereby certify that the foregoing is
a true copy of the Resolutions duly adopted by the Board of Directors (or its equivalent) of Company, effective as of             , which is in full force and effect on this date and does
not conflict with Company’s governing documents. 
  

			
	By:	 	  

		
	Name:	 	  

		
	Title:	 	Secretary

  
 D-2 

 EXHIBIT E 

OFFICER’S CERTIFICATE 
 I,
            , the duly elected             of loanDepot.com, LLC (“Seller”), do hereby certify as follows: 

1. The representations and warranties made by Seller under the Principal Agreements (as defined in the Amended and Restated Master Repurchase Agreement dated
as of July 17, 2015 (the “Agreement”) between Seller and Bank of America, N.A. (“Buyer”) are accurate and true on and as of the date hereof with the same effect as though such representations and warranties had been made on
and as of the date hereof. 
 2. Seller is in compliance with all of the terms and provisions set forth in the Principal Agreements on its part to be
performed and observed, and no Event of Default or Potential Default (as defined in the Agreement) has occurred and is continuing. 
 3. Since
            , no material change in the Executive Management (as defined in the Agreement), business, assets or financial or other condition of Seller and its consolidated Subsidiaries (as
defined in the Agreement) taken as a whole has occurred. 
 IN WITNESS WHEREOF, the undersigned has hereunto signed his/her name on
            . 
  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 E-1 

 EXHIBIT F 

ASSIGNMENT OF CLOSING PROTECTION LETTER 

loanDepot.com, LLC (“Assignor”) declares that for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, it
does hereby convey, transfer, assign, deliver and give to Assignee, and hereby expressly subrogates Bank of America, N.A. (“Assignee”) unto, all of Assignor’s claims, demands, rights and causes of action, past, present or future, that
Assignor has for loss or damage covered by the closing protection letter issued by             (Title Company) attached hereto (“Closing Protection Letter”). Such rights being
assigned by Assignor hereunder include, without limitation, the right to demand, sue, collect, receive, protect, preserve and enforce performance under the Closing Protection Letter. Assignee shall succeed to all rights of recovery of Assignor under
the Closing Protection Letter and Assignor shall execute such instruments and documents necessary and proper to further secure such rights to Assignee and shall not act in any manner hereafter to prejudice or impair the rights of Assignee. Assignor
hereby grants Assignee an irrevocable mandate and power of attorney coupled with an interest with full power of substitution to transact this act of assignment and subrogation. 

IN WITNESS WHEREOF, the Assignor has caused this assignment to be duly executed as of July 17, 2015. 

 

			
	LOANDEPOT.COM, LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 F-1 

 EXHIBIT G 

ASSIGNMENT OF FIDELITY BOND AND ERRORS AND OMISSION POLICY 

LoanDepot.com, LLC (“Assignor”) declares that for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, it
does hereby convey, transfer, assign, deliver and give to Assignee, and hereby expressly subrogates Bank of America, N.A. (“Assignee”) unto, all of Assignor’s claims, demands, rights and causes of action, past, present or future, that
Assignor has for loss or damage covered by Assignor’s fidelity bond and errors and omission policy (collectively, the “Policy”). Such rights being assigned by Assignor hereunder include, without limitation, the right to demand, sue,
collect, receive, protect, preserve and enforce performance under the Policy. Assignee shall succeed to all rights of recovery of Assignor under the Policy and Assignor shall execute such instruments and documents necessary and proper to further
secure such rights to Assignee and shall not act in any manner hereafter to prejudice or impair the rights of Assignee. Assignor hereby grants Assignee an irrevocable mandate and power of attorney coupled with an interest with full power of
substitution to transact this act of assignment and subrogation. 
 IN WITNESS WHEREOF, the Assignor has caused this assignment to be duly executed as of
July 17, 2015. 
  

			
	LOANDEPOT.COM, LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 G-1 

 EXHIBIT H 

FORM OF POWER OF ATTORNEY 
 KNOW ALL MEN BY
THESE PRESENTS: 
 WHEREAS, Bank of America, N.A. (“Buyer”) and loanDepot.com, LLC (“Seller”) have entered into the Amended and Restated
Master Repurchase Agreement, dated as of July 17, 2015 (the “Agreement”), pursuant to which Buyer has agreed to purchase from Seller certain mortgage loans from time to time, subject to the terms and conditions set forth therein; 

WHEREAS, Seller has agreed to give to Buyer a power of attorney on the terms and conditions contained herein in order for Buyer to take any action that Buyer
may deem necessary or advisable to accomplish the purposes of the Agreement; 
 NOW, THEREFORE, Seller hereby irrevocably constitutes and appoints Buyer its
true and lawful Attorney-in-Fact, with full power and authority hereby conferred in its name, place and stead and for its use and benefit, to do and perform the following in connection with mortgage loan purchased by Buyer from Seller under the
Agreement (the “Purchased Assets”) or as otherwise provided below: 
 (1) to receive, endorse and collect all checks made payable to the order of
Seller representing any payment on account of the Purchased Assets; 
 (2) to assign or endorse any mortgage, deed of trust, promissory note or other
instrument relating to the Purchased Assets; 
 (3) to correct any assignment, mortgage, deed of trust or promissory note or other instrument relating to the
Purchased Assets, including, without limitation, unendorsing and re-endorsing a promissory note to another investor; 
 (4) to complete and execute lost note
affidavits or other lost document affidavits relating to the Purchased Assets; 
 (5) to issue title requests and instructions relating to the Purchased
Assets; 
 (6) to give notice to any individual or entity of its interest in the Purchased Assets under the Agreement; and 

(7) to service and administer the Purchased Assets, including, without limitation, the receipt and collection of all sums payable in respect of the Purchased
Assets. 
 Seller hereby ratifies and confirms all that said Attorney-in-Fact shall lawfully do or cause to be done by authority hereof. 

Third parties without actual notice may rely upon the power granted under this Power of Attorney upon the exercise of such power by the Attorney-in-Fact. 

LOANDEPOT.COM, LLC 

  
 H-1 

			
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 H-2 

 WITNESS my hand this          day of
        , 20    . 
 STATE OF
                     
 County of
                     

This instrument was acknowledged, subscribed and sworn to before me this
         day of                     , by
                     
  

	
	  

	Notary Public

 My Commission Expires:
                     

                    Notary Seal: 

  
 H-3 

 EXHIBIT I 

ACKNOWLEDGEMENT OF PASSWORD CONFIDENTIALITY AGREEMENT 

LoanDepot.com, LLC (“Seller”) has entered into an Amended and Restated Master Repurchase Agreement with Bank of America, N.A. (“Buyer”).
In connection therewith, Seller is being provided access to the website at www.bankofamerica.com/warehouselending (the “Website”). As consideration for being provided access to and use of the Website, Seller agrees that: 

1. Seller may only access the Website by using a user name and password issued by Buyer. 

2. Buyer reserves the right to revoke or deactivate any user name and/or password at any time. 

3. Seller shall designate in writing an authorized representative (the “Authorized Representative”) to communicate with Buyer regarding the
authorized users of the Website. The Authorized Representative shall be responsible for notifying Buyer of any changes, additions or deletions to the authorized users. Under no circumstances may user names and passwords be transferred between
authorized users. Seller shall be solely responsible for all actions of its Authorized Representative and shall immediately notify Buyer of any change in its Authorized Representative. Buyer shall be entitled to rely on the authority and directions
of the Authorized Representative without further inquiry. Authorized Representative shall communicate with Buyer in writing or via telephone by dialing (800) 669-2955. 

4. Seller shall be solely responsible for safeguarding access to user names and passwords and for implementing controls to prevent unauthorized usage of the
Website. 
 5. Seller is responsible for all requests, approvals and other transactions on the Website accessed through user names and/or passwords issued to
Seller. 
 6. Buyer shall be entitled to rely on all requests, approvals and other communications made on the Website through a user name and/or password
issued to Seller until such time as: 
 (a) Seller provides Buyer with written instructions to the contrary; and 

(b) Buyer has sufficient time to notify the appropriate employees and modify its computerized systems to deactivate the affected user name and/or password.

 7. Any dispute regarding the use of user names and/or passwords shall be resolved in accordance with the terms and conditions of the Agreement. 

By signing below you acknowledge your agreement to the terms and conditions set forth herein. Facsimile signatures shall be deemed valid and binding to the
same extent as the original. 
 SELLER AUTHORIZATIONS: 
 Any of
the persons whose signatures and titles appear below, or attached hereto, are authorized, acting singly, to act for the Seller under this Agreement as an Authorized Representative. 

 

															
	By:	 	  
	 		  	By:	  	  
	  		  	By:	  	  

	Name:	 	  
	 		  	Name:	  	  
	  		  	Name:	  	  

  
 I-1 

															
	Title:	 	  
	 		  	Title:	  	  
	  		  	Title:	  	  

                        
LoanDepot.com, LLC 
  

							
	Print Name:	 	  
	  	Number Assigned:	  	  

	Signature:	 	  
	  	Date:	  	  

  
 I-2 

 EXHIBIT J 

WIRING INSTRUCTIONS 
 Seller’s Wire
Instructions: 
 Account #: ########## 
 Account
Holder’s name: loanDepot.com, LLC 
 ABA #: ######### 

Bank name: WELLS FARGO BANK 
 Bank Address: 420 MONTGOMERY ST.

 Further Credit:
                                         
    
 Buyer’s Wire Instructions: 
  

			
	Bank:	  	Bank of America, N.A.
	ABA No.:	  	 #########

	Account No.:	  	 ##########

	Reference:	  	loanDepot.com, LLC

                          
                                         
  
 These wiring instructions may not be changed except by an authorized representative of Buyer or Seller, as applicable. Buyer shall be entitled
to rely on these wiring instructions without further inquiry or verification. 

  
 J-1 

 EXHIBIT K 

FORM OF SERVICER NOTICE AND ACKNOWLEDGEMENT 

[Date] 

[            ], as Servicer 

[ADDRESS] 
 Attention:
             
  

	Re:	Amended and Restated Master Repurchase Agreement, dated as of July 17, 2015 (the “Repurchase Agreement”), by and between loanDepot.com LLC (the “Seller”) and Bank of America, N.A.
(the “Buyer”). 

 Ladies and Gentlemen: 

[            ] (“Servicer”) is servicing certain mortgage loans
for Seller pursuant to that certain [Servicing Agreement], dated as of [ ] (the “Servicing Agreement”) between Servicer and Seller. Pursuant to the Repurchase Agreement between Buyer and Seller, Servicer is hereby notified that
Seller may from time to time sell to Buyer certain mortgage loans which are currently being serviced by Servicer pursuant to the terms of the Servicing Agreement. 

Section 1. Direction Notice. (a) Upon receipt of notice from Buyer (a “Direction Notice”) in which
Buyer shall identify the mortgage loans which are sold to Buyer under the Repurchase Agreement (the “Mortgage Loans”), Servicer shall segregate all amounts collected on account of such Mortgage Loans, hold them in trust for the sole
and exclusive benefit of Buyer, and remit such collections in accordance with Buyer’s written instructions. Further, Servicer shall follow the instructions of Buyer with respect to the Mortgage Loans, and shall deliver to Buyer any information
with respect to the Mortgage Loans as reasonably requested by Buyer. 
 (b) Notwithstanding any contrary information which may be delivered
to the Servicer by Seller, Servicer may conclusively rely on any information delivered by Buyer, and Seller shall indemnify and hold the Servicer harmless for any and all claims asserted against it for any actions taken in good faith by the Servicer
in connection with the delivery of such information. 
 Section 2. No Modification of the Servicing Agreement. Without
the prior written consent of Buyer exercised in Buyer’s sole discretion, Servicer shall not agree to (a) any material modification, amendment or waiver of the Servicing Agreement; (b) any termination of the Servicing Agreement or
(c) the assignment, transfer, or material delegation of any of its rights or obligations under the Servicing Agreement. 

Section 3. Right of Termination. Buyer shall have the right to terminate the Servicer’s rights and obligations to
service the Mortgage Loans under the Servicing Agreement in accordance with the terms thereof. Any fees due to the Servicer (a) in connection with any termination shall be paid by Seller and (b) incurred following receipt of a Direction
Notice shall be paid by Buyer to the extent that such fees relate to the Mortgage Loans that are subject to the Servicing Agreement. Seller and the Servicer shall cooperate in transferring the servicing with respect to such Mortgage Loans to a
successor servicer appointed by Buyer in its sole discretion. 

  
 K-1 

 Section 4. Notices. All notices, demands, consents, requests and other
communications required or permitted to be given or made hereunder in writing shall be mailed (first class, return receipt requested and postage prepaid) or delivered in person or by overnight delivery service or by facsimile, addressed to the
respective parties hereto at their respective addresses set forth below or, as to any such party, at such other address as may be designated by it in a notice to the other: 

Any notices to Buyer should be delivered to the following addresses: 

Bank of America, N.A. 
 One
Bryant Park – 11th floor 
 Mail Code: NY1-100-11-01 

New York, New York 10036 

Attention: Eileen Albus, Director – Mortgage Finance 

Telephone: (646) 855-0946 

Facsimile: (646) 855-5050 

Email: Eileen.Albus@baml.com 

and 
 Bank of America, N.A. 

4500 Park Granada 
 Mail Code:
CA7-910-02-38 
 Calabasas, California 91302 

Attention: Adam Gadsby, Managing Director 

Telephone: (818) 225-6541 

Facsimile: (213) 457-8707 

Email: Adam.Gadsby@baml.com 

Any notices to Servicer should be delivered to the following addresses: 

[     ] 
 Any
notices to Seller should be delivered to the following addresses: 
 loanDepot.com, LLC 

26642 Towne Centre Drive 

Foothill Ranch, California 92610 

Attn: Jon Frojen, Chief Financial Officer 

Email: jfrojen@loandepot.com 

Cc: Rob Bernabe - rbernabe@loandepot.com 

Cc: Michelle Richardson - mrichardson@loandepot.com 

Section 5. Counterparts. This agreement may be executed in one or more counterparts, each of which shall be deemed to be an
original, and all such counterparts shall together constitute one and the same instrument. 
 Section 6. Entire Agreement;
Severability. This agreement shall supersede any existing agreements between the parties containing general terms and conditions for the servicing of the Mortgage Loans. Each provision and agreement herein shall be treated as separate and
independent from any other provision or agreement herein and shall be enforceable notwithstanding the unenforceability of any such other provision or agreement. 

  
 K-2 

 Section 7. Governing Law; Jurisdiction; Waiver of Jury Trial. (a) This
agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by the laws of the State of New York, without regard to principles of conflicts of laws (other than Section 5-1401 of the New
York General Obligations Law). 
 (b) All legal actions between or among the parties regarding this agreement, including, without limitation,
legal actions to enforce this agreement or because of a dispute, breach or default of this agreement, shall be brought in the federal or state courts located in New York County, New York, which courts shall have sole and exclusive in personam,
subject matter and other jurisdiction in connection with such legal actions. The parties hereto irrevocably consent and agree that venue in such courts shall be convenient and appropriate for all purposes and, to the extent permitted by law, waives
any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same. The parties hereto
further irrevocably consent and agree that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to its address set
forth in Section 4, and that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction. 

(c) The parties hereto hereby irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any
legal proceeding arising out of or relating to this agreement or the transactions contemplated hereby or thereby. 
 [REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK] 

  
 K-3 

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

					
	BANK OF AMERICA, N.A., as Buyer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	LOANDEPOT.COM, LLC. as Seller
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	[    ], as Servicer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 K-4 

 EXHIBIT L 

REPRESENTATIONS AND WARRANTIES 

Representations and Warranties Concerning Seller. Seller represents and warrants to and covenants with Buyer that the following are true and
correct as of the Effective Date through and until the date on which all obligations of Seller under this Agreement are fully satisfied. With respect to those representations and warranties which are made to the best of Seller’s knowledge, if
it is discovered by Seller or Buyer that the substance of such representation and warranty is inaccurate, notwithstanding Seller’s lack of knowledge with respect to the substance of such representation and warranty, such inaccuracy shall be
deemed a breach of the applicable representation and warranty. 
 (a) Due Formation and Good Standing. Seller is duly organized, validly existing and
in good standing under the laws of the jurisdiction of its organization, has the full legal power and authority to own its property and to carry on its business as currently conducted and is duly qualified to do business and is in good standing in
each jurisdiction in which the transaction of its business makes such qualification necessary. 
 (b) Authorization. The execution, delivery and
performance by Seller of the Principal Agreements and all other documents and transactions contemplated thereby, are within Seller’s corporate powers, have been duly authorized by all necessary corporate action and do not constitute or will not
result in (i) a breach of any of the terms, conditions or provisions of Seller’s articles or certificate of incorporation or bylaws (or corresponding organizational documents if Seller is not a corporation); (ii) a material breach of
any legal restriction or any agreement or instrument to which Seller is now a party or by which it is bound; (iii) a material default or an acceleration under any of the foregoing; or (iv) the violation of any law, rule, regulation, order,
judgment or decree to which Seller or its property is subject. 
 (c) Enforceable Obligation. The Principal Agreements and all other documents
contemplated thereby constitute legal, binding and valid obligations of Seller, enforceable in accordance with their respective terms, except as limited by bankruptcy, insolvency or other similar laws affecting the enforcement of creditor’s
rights. 
 (d) Approvals. The execution and delivery of the Principal Agreements and all other documents contemplated thereby and the performance of
Seller’s obligations thereunder do not require any license, consent, approval, authorization or other action of any Person, including any state, federal, governmental or regulatory authority, or if required, such license, consent, approval,
authorization or other action has been obtained prior to the Effective Date. 
 (e) Compliance with Laws. Seller is not in violation of any provision
of any applicable law, or of any judgment, award, rule, regulation, order, decree, writ or injunction of any court or public regulatory body or authority that might have a material adverse effect on the business, operations, assets or financial
condition of Seller. 
 (f) Financial Condition. All financial statements of Seller delivered to Buyer fairly and accurately present the financial
condition of the parties for whom such statements are submitted. The financial statements of Seller have been prepared in accordance with GAAP consistently applied throughout the periods involved, and there are no contingent liabilities not
disclosed thereby that would adversely affect the financial condition of Seller. Since the close of the period covered by the latest financial statement delivered to Buyer with respect to Seller, there has been no material adverse change in the
assets, liabilities or financial condition of Seller nor is Seller aware of any facts that, with or without notice or lapse of time or both, would or could result in any such material adverse change. No event has occurred, 

  
 L-1 

 including, without limitation, any litigation or administrative proceedings, and no condition exists or, to the
knowledge of Seller, is threatened, that (i) might render Seller unable to perform its obligations under the Principal Agreements and all other documents contemplated thereby; (ii) would constitute a Potential Default or Event of Default;
or (iii) might adversely affect the financial condition of Seller or the validity, priority or enforceability of the Principal Agreements or any other documents contemplated thereby. 

(g) Credit Facilities. The only credit facilities, including repurchase agreements for mortgage loans and mortgage-backed securities, of Seller that are
presently in effect and are secured by mortgage loans or provide for the purchase, repurchase or early funding of mortgage loan sales, are with Persons disclosed to Buyer as of the date of this Agreement, or thereafter disclosed to and approved by
Buyer, or warehouse lenders that are Approved Payees. 
 (h) Title to Assets. Seller has good, valid, insurable (in the case of real property) and
marketable title to all of its properties and other assets, whether real or personal, tangible or intangible, reflected on the financial statements delivered to Buyer with respect to Seller, except for such properties and other assets that have been
disposed of in the ordinary course of business of Seller’s mortgage banking business, and all such properties and other assets are free and clear of all liens except as disclosed in such financial statements. 

(i) Litigation. There are no actions, claims, suits, investigations or proceedings pending, or to the knowledge of Seller, threatened or reasonably
anticipated against or affecting Seller in any court or before or by any arbitrator, government commission, board, bureau or other administrative agency that, if adversely determined, may reasonably be expected to result in any material and adverse
change in the business, operations, assets, licenses, qualifications or financial condition of Seller. 
 (j) Payment of Taxes. Seller has filed all
tax returns and reports required to be filed and has paid all taxes, assessments, fees and other governmental charges levied upon it or its property or income that are due and payable, including interest and penalties, except those being contested
in good faith, or has provided adequate reserves for the payment thereof. 
 (k) No Defaults. Seller is not in default under any indenture, mortgage
or deed of trust to which it is a party or by which it is bound. Seller is not in default under any other material agreement or other instrument or contractual or legal obligation to which it is a party or by which it is bound, which default may
lead to or result in a material adverse effect on the business, operations, assets or financial condition of Seller. 
 (l) ERISA. Seller is in
compliance in all material respects with the requirements of ERISA, and no Reportable Event has occurred under any Plan maintained by Seller. 
 (m)
Approved Mortgagee. As of the date of this Agreement, Seller is an approved FHA, VA, RD, Ginnie Mae, Fannie Mae and/or Freddie Mac seller, mortgagee and/or servicer and is in good standing with these agencies. 

(n) True and Complete Disclosure. Seller has made full disclosure to Buyer of all information that could adversely affect the execution, delivery and
performance by Seller of its obligations under the Principal Agreements. All information furnished to Buyer by or on behalf of Seller in connection with the Principal Agreements or any transaction contemplated thereby, was true, accurate and
complete in all material respects on the date furnished, and there has been no material adverse change in the condition, financial or otherwise, of Seller from the time such information was provided to Buyer. 

  
 L-2 

 (o) Ownership; Priority of Liens. Seller owns all Mortgage Loans identified in the Transactions Terms
Letter that are to become Purchased Mortgage Loans, and any Transaction shall convey all of Seller’s right, title and interest in and to such Purchased Mortgage Loans, including the servicing rights related thereto, and other Purchased Assets
to Buyer. This Agreement shall also create in favor of Buyer, a valid, enforceable, perfected first priority lien and security interest in the Purchased Mortgage Loans and other Purchased Assets, prior to the rights of all third Persons and subject
to no other liens. 
 (p) Investment Company Act. Seller is not an “investment company” or a company controlled by an “investment
company” within the meaning of the Investment Company Act of 1940, as amended. 
 (q) Filing Jurisdictions; Relevant States. As of the date of
this Agreement, Schedule 1 sets forth all of the jurisdictions and filing offices in which a financing statement should be filed in order for Buyer to perfect its security interest in the Purchased Assets. Schedule 1 sets forth all of the states or
other jurisdictions in which Seller originates Mortgage Loans in its own name or through brokers on the date of this Agreement. 
 (r) Seller Solvent;
Fraudulent Conveyance. As of the date hereof and immediately after giving effect to each Transaction, the fair value of the assets of Seller is greater than the fair value of the liabilities (including, without limitation, contingent liabilities
if and to the extent required to be recorded as a liability on the financial statements of Seller in accordance with GAAP) of Seller and Seller is and will be solvent, is and will be able to pay its debts as they mature and does not and will not
have an unreasonably small capital to engage in the business in which it is engaged and proposes to engage. Seller does not intend to incur, or believe that it has incurred, debts beyond its ability to pay such debts as they mature. Seller is not
contemplating the commencement of insolvency, bankruptcy, liquidation or consolidation proceedings or the appointment of a receiver, liquidator, conservator, trustee or similar official in respect of Seller or any of its assets. Seller is not
transferring any Mortgage Loans with any intent to hinder, delay or defraud any of its creditors. 
 (s) [Reserved]. 

(t) Chief Executive Office. Seller’s chief executive office on is located at 26642 Towne Centre Drive, Foothill Ranch, California 92610. 

Representations and Warranties Concerning Purchased Assets. Seller represents and warrants to and covenants with Buyer that the following are
true and correct with respect to each Purchased Mortgage Loan as of the related Purchase Date through and until the date on which such Purchased Mortgage Loan is repurchased by Seller. With respect to those representations and warranties which are
made to the best of Seller’s knowledge, if it is discovered by Seller or Buyer that the substance of such representation and warranty is inaccurate, notwithstanding Seller’s lack of knowledge with respect to the substance of such
representation and warranty, such inaccuracy shall be deemed a breach of the applicable representation and warranty. 
 (a) Eligible Loan. The
Mortgage Loan is an Eligible Mortgage Loan. The Mortgage Loan is a legal, valid and binding obligation of the Mortgagor thereunder, enforceable in accordance with its terms and subject to no offset, defense or counterclaim, obligating Mortgagor to
make the payments specified therein. 
 (b) Purchase Commitment. Unless otherwise stated in the Transactions Terms Letter, the Mortgage Loan is
covered by a Purchase Commitment that permits assignment thereof to Buyer, does not exceed the availability under such Purchase Commitment, conforms to the requirements and specifications set forth in such Purchase Commitment and the related
regulations, rules, requirements and/or handbooks of the applicable Approved Investor and is eligible for sale to and insurance or guaranty by, respectively, the applicable Approved Investor and any applicable Insurer. 

  
 L-3 

 (c) Asset Data Record. The information contained in the Asset Data Record is materially true, correct and
complete. 
 (d) Origination and Servicing. The Mortgage Loan has been originated and serviced in material compliance with Seller’s Underwriting
Guidelines and Accepted Servicing Practices, applicable Approved Investor and Insurer requirements and all applicable federal, state and local statutes, regulations and rules, including, without limitation, the Federal Truth-in-Lending Act of 1968,
as amended, and Regulation Z thereunder, the Federal Fair Credit Reporting Act, the Federal Equal Credit Opportunity Act, the Federal Real Estate Settlement Procedures Act of 1974, as amended, and Regulation X thereunder, and all applicable usury,
licensing, real property, consumer protection and other laws. 
 (e) Mortgage Loan Documents. The Mortgage Loan is evidenced by instruments acceptable
to FHA, VA, RD, Fannie Mae, Freddie Mac or the Approved Investor, as applicable, given the type of Mortgage Loan. The Mortgage Loan Documents and other mortgage loan documents have been duly executed and delivered by the Mortgagor and create valid
and legally binding obligations of the Mortgagor, enforceable in accordance with their terms, except as may be limited by bankruptcy or other laws affecting the enforcement of creditor’s rights generally, and there are no rights of rescission,
set-offs, counterclaims or other defenses with respect thereto. With respect to each Foreign National Mortgage Loan, the non-U.S. citizenship of the Mortgagor will neither prevent nor materially impair the enforceability of the related Mortgage
Loan. 
 (f) Lien Position. The Mortgage Loan is secured by a valid first priority lien on the Mortgaged Property under the laws of the state where
the related mortgaged property in located; provided, however, that if the Mortgage Loan is a Closed-End Second Lien Mortgage Loan or HELOC Mortgage Loan, it is secured by a valid second lien on the Mortgaged Property. 

(g) No Future Advances. The full original principal amount of each Mortgage Loan, net of any discounts, has been fully advanced or disbursed to the
Mortgagor named therein, except with respect to specific mortgage products agreed upon by Buyer in writing. All costs, fees and expenses incurred in making or closing the Mortgage Loan and the recording of the Mortgage were paid, and the Mortgagor
is not entitled to any refund of any amounts paid or due under the Mortgage Note or Mortgage. With respect to any Mortgage Loan, the terms of which require the Seller to make additional advances or disbursements to or on behalf of the Mortgagor
named therein after the date of origination, Seller has made all such advances and disbursements in accordance with the terms of the Mortgage and/or the terms and conditions of the related mortgage loan program, and such additional amounts have been
advanced or disbursed from Seller’s own funds and not from the funds representing any Purchase Price paid by Buyer to Seller hereunder. For all Mortgage Loans other than specific mortgage products agreed upon by Buyer in writing, there is no
requirement for future advances and any and all requirements as to completion of any on-site or off-site improvements and as to disbursements of any escrow funds therefor have been satisfied. 

(h) No Default. Other than Mortgage Loans which are no more than 30 days past due, there is no default, breach, violation or event of acceleration
existing under the Mortgage or the related Mortgage Note, and no event has occurred that, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event of acceleration.
Seller has not waived any default, breach, violation or event of acceleration; and with respect to each Cooperative Loan, there is no default in complying with the terms of the Mortgage Note, the Assignment of Proprietary Lease and the Proprietary
Lease and all maintenance charges and assessments (including assessments 

  
 L-4 

 payable in the future installments, which previously became due and owing) have been paid, and Seller has the
right under the terms of the Mortgage Note, Assignment of Proprietary Lease and Recognition Agreement to pay any maintenance charges or assessments owed by the Mortgagor. 

(i) No Waiver. The terms of the Mortgage Loan have not been waived, impaired, changed or modified, except to the extent such amendment or modification
has been disclosed to Buyer in writing and does not affect the salability of the Mortgage Loan pursuant to the applicable Purchase Commitment. 
 (j)
Taxes and Insurance. All taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents that previously became due and owing have been paid, are being contested in good faith or an
escrow of funds has been established in an amount sufficient to pay for every such item that remains unpaid. 
 (k) Private Mortgage Insurance. Each
Conventional Conforming Mortgage Loan is insured by a policy of private mortgage insurance in the amount required by Fannie Mae or Freddie Mac, as applicable, and by an Insurer and all provisions of such private mortgage insurance policy have been
and are being complied with, such policy is in full force and effect and all premiums due thereunder have been paid. There are no defenses, counterclaims or rights of setoff affecting the Conventional Conforming Mortgage Loan or affecting the
validity or enforceability of any private mortgage insurance applicable to such Mortgage Loan. 
 (l) Government Mortgage Loans. If the Mortgage Loan
is represented by Seller to have, or to be eligible for, FHA insurance, such Mortgage Loan is insured, or eligible to be insured, pursuant to the National Housing Act. If the Mortgage Loan is represented by Seller to be guaranteed, or to be eligible
for guarantee, by the VA, such Mortgage Loan is guaranteed, or eligible to be guaranteed, under the provisions of Chapter 37 of Title 38 of the United States Code. If the Mortgage Loan is represented by Seller to be guaranteed, or to be eligible for
guarantee, by the RD, such Mortgage Loan is guaranteed, or eligible to be guaranteed, under the provisions of the RD Regulations. As to each FHA insurance certificate, each VA guaranty certificate or each RD loan guaranty, Seller has complied with
applicable provisions of the insurance for guaranty contract and federal statutes and regulations, all premiums or other charges due in connection with such insurance or guarantee have been paid, there has been no act or omission that would or may
invalidate any such insurance or guaranty, and the insurance or guaranty is, or when issued, will be in full force and effect with respect to such Government Mortgage Loan. There are no defenses, counterclaims or rights of setoff affecting the
Government Mortgage Loan or affecting the validity or enforceability of the FHA insurance, VA guaranty or RD loan guaranty applicable to such Mortgage Loan. 

(m) Hazard Insurance. The Mortgage Loan is covered by a policy of hazard insurance, flood insurance and insurance against other insurable risks and
hazards as required by the applicable Approved Investor and the agreements applicable to such Mortgage Loan, in amounts not less than the outstanding principal balance of the Mortgage Loan or such maximum lesser amount as permitted by the applicable
Approved Investor and applicable law, all in a form usual and customary in the industry and that is in full force and effect, and all amounts required to have been paid under any such policy have been paid. 

(n) Title Insurance. A valid and enforceable title insurance policy has been issued or a commitment to issue such title insurance policy has been
obtained for the Mortgage Loan in an amount not less than the original principal amount of such Mortgage Loan, which title insurance policy insures that the Mortgage relating thereto is a valid first lien or second lien, as applicable, on the
property therein described and that the mortgaged property is free and clear of all encumbrances and liens having priority over the first lien of the Mortgage (unless the Mortgage Loan is a Closed-End Second Lien Mortgage Loan or HELOC Mortgage
Loan) and otherwise in compliance with the requirements of the applicable Approved Investor. The title insurance company that issued the applicable Closing Protection Letter has also issued or has committed to issue the title insurance policy. 

  
 L-5 

 (o) Assignment. The Assignment (i) has been duly authorized by all necessary corporate action by
Seller, duly executed and delivered by Seller and is the legal, valid and binding obligation of Seller enforceable in accordance with its terms, and (ii) complies with all applicable laws including all applicable recording, filing and
registration laws and regulations and is adequate and legally sufficient for the purpose intended to be accomplished thereby, including, without limitation, the assignment of all of the rights, powers and benefits of Seller as mortgagee. 

(p) No Fraud. No error, omission, misrepresentation, negligence, fraud or similar occurrence has taken place with respect to the Mortgage Loan on the
part of any Person, including, without limitation, the Mortgagor, any appraiser, any builder or developer or any other party involved in the origination of the Mortgage Loan or in the application of any insurance in relation to such Mortgage Loan.

 (q) Compliance with Applicable Laws. Any and all requirements of any federal, state or local law including, without limitation, usury,
truth-in-lending, real estate settlement procedures, consumer credit protection, equal credit opportunity or disclosure laws applicable to the Mortgage Loan have been complied with, the consummation of the transactions contemplated hereby will not
involve the violation of any such laws or regulations, and Seller shall maintain or shall cause its agent to maintain in its possession, available for the inspection of Buyer, and shall deliver to Buyer, upon demand, evidence of compliance with all
such requirements. 
 (r) HOEPA. No Mortgage Loan is (a) subject to the provisions of 12 U.S.C. Section 226.32 of Regulation Z implementing
the Homeownership and Equity Protection Act of 1994 as amended (“HOEPA”), (b) a “high cost” mortgage loan, “covered” mortgage loan, “high risk home” mortgage loan, or “predatory” mortgage loan
or any other comparable term, no matter how defined under any federal, state or local law, (c) subject to any comparable federal, state or local statutes or regulations, or any other statute or regulation providing for heightened regulatory
scrutiny or assignee liability to holders of such mortgage loans, or (d) a High Cost Loan or Covered Loan, as applicable (as such terms are defined in the current Standard & Poor’s LEVELS® Glossary Revised, Appendix E). 
 (s) Compliance with HARP Guidelines. Each HARP Mortgage Loan
was originated in Strict Compliance with and remains in compliance with the Agency guides and the guidance issued by the Federal Housing Finance Authority, Fannie Mae and Freddie Mac for origination of mortgage loans under the Home Affordable
Refinance Program. 
 (t) Qualified Mortgage. Each Mortgage Loan (other than Bond Loans – 1st
Liens and Permitted Non-Qualified Mortgage Loans) satisfies the following criteria: 
 (i) Such Mortgage Loan is a Qualified Mortgage; 

(ii) Such Mortgage Loan is accurately identified in writing to Buyer as either a Safe Harbor Qualified Mortgage or a Rebuttable Presumption Qualified Mortgage;

 (iii) Prior to the origination of such Mortgage Loan, the related originator made a reasonable and good faith determination that the related Mortgagor
would have a reasonable ability to repay such Mortgage Loan according to its terms, in accordance with, at a minimum, the eight underwriting factors set forth in 12 CFR 1026.43(c)(2); and 

  
 L-6 

 (iv) Such Mortgage Loan is supported by documentation that evidences compliance with the Ability to Repay Rule
and the QM Rule. 
 (u) Ability to Repay Determination. There is no action, suit or proceeding instituted by or against or, to Seller’s
knowledge, threatened against Seller in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any Mortgage Loan (or the related
underwriting) with, (x) except with respect to a Bond Loan – 1st Lien, the Ability to Repay Rule or, (y) except with respect to a Bond Loan – 1st Lien or a Permitted Non-Qualified Mortgage Loan, the QM Rule. 
 (v) Points and Fees. All points
and fees related to the Mortgage Loan were disclosed in writing to the Mortgagor in accordance with applicable state and federal law and regulation. The points and fees related to such Mortgage Loan (other than a Bond Loan – 1st Lien and a
Permitted Non-Qualified Mortgage Loan) did not exceed 3% of the total loan amount (or such other applicable limits for lower balance Mortgages) as specified under 12 CFR 1026.43(e)(3), and the points and fees were calculated using the calculation
required for qualified mortgages under 12 CFR 1026.32(b) to determine compliance with applicable requirements. 
 (w) Permitted Non-Qualified
Mortgage. Each Mortgage Loan that is a Permitted Non-Qualified Mortgage Loan satisfies the following criteria: 
 (i) Prior to the origination of such
Mortgage Loan, the related originator made a reasonable and good faith determination that the related Mortgagor would have a reasonable ability to repay such Mortgage Loan according to its terms, in accordance with, at a minimum, the eight
underwriting factors set forth in 12 CFR 1026.43(c)(2); and 
 (ii) Such Mortgage Loan is supported by documentation that evidences compliance with the
Ability to Repay Rule. 
 (x) Cooperative Loan: Valid First Lien. With respect to each Cooperative Loan, the related Mortgage is a valid, enforceable
and subsisting first security interest on the related Cooperative Shares securing the related cooperative note and lease, subject only to (a) liens of the cooperative for unpaid assessments representing the Mortgagor’s pro rata share of
the cooperative’s payments for its blanket mortgage, current and future real property taxes, insurance premiums, maintenance fees and other assessments to which like collateral is commonly subject and (b) other matters to which like
collateral is commonly subject which do not materially interfere with the benefits of the security intended to be provided by the security interest. There are no liens against or security interests in the Cooperative Shares relating to each
Cooperative Loan (except for unpaid maintenance, assessments and other amounts owed to the related cooperative which individually or in the aggregate will not have a material adverse effect on such Cooperative Loan), which have priority equal to or
over Seller’s security interest in such Cooperative Shares. 
 (y) Cooperative Loan: Compliance with Law. With respect to each Cooperative Loan,
the related cooperative corporation that owns title to the related cooperative apartment building is a “cooperative housing corporation” within the meaning of Section 216 of the Internal Revenue Code, and is in material compliance
with applicable federal, state and local laws which, if not complied with, could have a material adverse effect on the Mortgaged Property. 
 (z)
Cooperative Loan: No Pledge. With respect to each Cooperative Loan, there is no prohibition against pledging the shares of the cooperative corporation or assigning the Proprietary Lease. With respect to each Cooperative Loan, (i) the
term of the related Proprietary Lease is longer than the term of 

  
 L-7 

 the Cooperative Loan, (ii) there is no provision in any Proprietary Lease which requires the Mortgagor to
offer for sale the Cooperative Shares owned by such Mortgagor first to the Cooperative Corporation, (iii) there is no prohibition in any Proprietary Lease against pledging the Cooperative Shares or assigning the Proprietary Lease and
(iv) the Recognition Agreement is on a form of agreement published by Aztech Document Systems, Inc. as of the date hereof or includes provisions which are no less favorable to the lender than those contained in such agreement. 

(aa) Cooperative Loan: Acceleration of Payment. With respect to each Cooperative Loan, each Assignment of Proprietary Lease contains enforceable
provisions such as to render the rights and remedies of the holder thereof adequate for the realization of the material benefits of the security provided thereby. The Assignment of Proprietary Lease contains an enforceable provision for the
acceleration of the payment of the unpaid principal balance of the Mortgage Note in the event the Cooperative Unit is transferred or sold without the consent of the holder thereof. 

  
 L-8 

 EXHIBIT M 

FORM OF CONFIRMATION OF TEMPORARY MODIFICATION (MASTER REPURCHASE AGREEMENT) 

loanDepot.com, LLC 
 26642 Towne Centre Drive 

Foothill Ranch, CA 92610 
 Attn: Jon Frojen, Chief Financial
Officer 
 Email: jfrojen@loandepot.com 
 Cc: Rob Bernabe -
rbernabe@loandepot.com 
 Cc: Michelle Richardson - mrichardson@loandepot.com 

[    ], 20     

Re: Temporary Modifications Under the Amended and Restated Master Repurchase Agreement, dated as of July 17, 2015 (as amended, restated, supplemented or
otherwise modified from time to time, the “Master Repurchase Agreement”), between Bank of America, N.A. (“Buyer”) and loanDepot.com, LLC (“Seller”) and the Transactions Terms Letter (as such term is defined in the
Master Repurchase Agreement) (as amended, restated, supplemented or otherwise modified from time to time, the “Transactions Terms Letter”; collectively with the Master Repurchase Agreement, the “Agreements”), between Buyer and
Seller 
 Ladies and Gentlemen: 
 This confirmation
(“Confirmation”) sets forth the agreement between Buyer and Seller to temporarily modify the [Aggregate Transaction Limit / Minimum Over/Under Account Balance / Type Sublimit] strictly in accordance with the terms set forth below and the
provisions of the Agreements: 
 Temporary Modification to Aggregate Transaction Limit: [+] [-]
$            . 
 Modified Aggregate Transaction Limit:
$            . 
 Temporary Modification to Minimum Over/Under Account Balance: [+] [-]
$            . 
 Modified Minimum Over/Under Account Balance:
$            . 
 Temporary Modification to Type Sublimit — Type [__]:
[            ]: [+] [-] %            . 

Modified Type Sublimit — Type [__]: %            . 

Effective date: [dd/mm/yyyy] 
 Termination date: [dd/mm/yyyy]

 On and after the effective date indicated above and until the termination date indicated above, the [Aggregate Transaction Limit / Minimum Over/Under
Account Balance / Type Sublimit] shall equal the modified [Aggregate Transaction Limit / Minimum Over/Under Account Balance / Type Sublimit] indicated above for all purposes of the Agreements. 

  
 M-1 

 Upon the termination of any Temporary Modification to Aggregate Transaction Limit that has increased the
Aggregate Transaction Limit, (i) Seller shall repurchase Purchased Assets in a requisite amount to reduce the total aggregate Transactions outstanding to the Aggregate Transaction Limit within [    ] Business Days after such
termination date; provided, that, at any time after such termination date, Buyer may provide Seller with a written notice which requires the immediate repurchase of Purchased Assets in a requisite amount to reduce the total aggregate Transactions
outstanding to the Aggregate Transaction Limit, irrespective of the [    ] Business Day grace period, and (ii) the aggregate type of Transactions outstanding at such time shall not exceed the applicable Type Sublimit. 

All terms used herein and not otherwise defined herein shall have the respective meanings ascribed to such terms in the Agreements, as applicable. 

[signature page follows] 

  
 M-2 

									
	Sincerely,	 		  	Agreed to and Accepted by:
			
	BANK OF AMERICA, N.A.	 		  	LOANDEPOT.COM, LLC
					
	By:	 	  
	 		  	By:	  	  

	Name:	 		 		  	Name:	  	
	Title:	 		 		  	Title:	  	

  
 M-3 

 SCHEDULE 1 

FILING JURISDICTIONS AND OFFICES 
 State of
Delaware – Secretary of State 

  
 Schedule-1 

					
		 	

	 	  

            Execution Version

 AMENDMENT NO. 1 TO 

AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT 

This AMENDMENT NO. 1 TO AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT (this “Amendment”) is made and entered into as of September 29,
2015 by and between Bank of America, N.A. (“Buyer”) and loanDepot.com, LLC (“Seller”). This Amendment amends that certain Amended and Restated Master Repurchase Agreement by and between Buyer and Seller, dated as of
July 17, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Agreement”). 

RECITALS 
 Buyer and
Seller have previously entered into the Agreement pursuant to which Buyer may, from time to time, purchase certain mortgage loans from Seller and Seller agrees to sell certain mortgage loans to Buyer under a master repurchase facility. Buyer and
Seller hereby agree that the Agreement shall be amended as more fully provided herein. 
 In consideration of the mutual promises contained herein, and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Buyer and Seller hereby agree as follows: 
  

	1.	Amendments. Effective as of September 29, 2015, the Agreement is hereby amended as follows: 

(a) Exhibit A to the Agreement is hereby amended by deleting the definitions of “Jumbo Asset Depletion Mortgage Loan”,
“Jumbo Mortgage Loan” and “Jumbo Non-Warrantable Condo Mortgage Loan” in their respective entirety and replacing them with the following (modified text underlined for review purposes): 

Jumbo Asset Depletion Mortgage Loan: A Jumbo Mortgage Loan that (a) is not a Qualified Mortgage and (b) was
originated by Seller or a third party originator and acquired by Seller in accordance with Seller’s origination and/or underwriting guidelines, taking into account the related Mortgagor’s documented and qualifying income from existing
assets other than wages and salaries. 
 Jumbo Mortgage Loan: Unless defined otherwise in the Transactions Terms Letter, a
first lien mortgage loan or Cooperative Loan (i) with respect to which Seller has obtained a Purchase Commitment on or prior to the related Purchase Date, (ii) for which the original loan amount is greater than the conforming limit in
the jurisdiction where the related Mortgaged Property is located, and (iii) meets the transaction requirements set forth on Schedule 1 or Schedule 2 to the Transactions Terms Letter. 

Jumbo Non-Warrantable Condo Mortgage Loan: Any Jumbo Mortgage Loan as to which the related Mortgaged Property constitutes
a condominium unit that was not originated in compliance with, or no longer satisfies the requirements of, the applicable Agency Guide. 

(b) Exhibit A to the Agreement is hereby amended by inserting the following new definition in the appropriate alphabetical order: 

Review Appraisal: A review whereby a licensed appraiser reviews available information with respect to the related Mortgaged
Property including, without limitation, exterior only pictures and multiple listing service data to assign a value with respect to such Mortgaged Property. 

 (c) Exhibit L to the Agreement, “Representations and Warranties Concerning Purchased
Assets”, is hereby amended by inserting the following new clause “(bb)” immediately after clause “(aa)” thereof: 

(bb) Appraisal. Except as may otherwise be permitted by the applicable Agency Guides with respect to HARP Mortgage Loans, a full
appraisal of the related Mortgaged Property was conducted and executed prior to the funding of the Mortgage Loan by a qualified appraiser, duly appointed by Seller, who had no interest, direct or indirect in the Mortgaged Property or in any loan
made on the security thereof, and whose compensation is not affected by the approval or disapproval of the Mortgage Loan, and the appraisal and appraiser both satisfy the relevant Fannie Mae and Freddie Mac guidelines, each as amended and as in
effect on the date the Mortgage Loan was originated. With respect to a Closed-End Second Lien Mortgage Loan with an original loan amount less than or equal to $100,000, a Review Appraisal approved by Buyer in its sole discretion was conducted and
executed prior to the funding of the Mortgage Loan by a qualified appraiser who had no interest, direct or indirect in the Mortgaged Property or in any loan made on the security thereof, and whose compensation is not affected by the approval or
disapproval of the Mortgage Loan. 
  

	2.	No Other Amendments; Conflicts with Previous Amendments. Other than as expressly modified and amended herein, the Agreement shall remain in full force and effect and nothing herein shall affect the rights
and remedies of Buyer as provided under the Agreement. To the extent any amendments to the Agreement contained herein conflict with any previous amendments to the Agreement, the amendments contained herein shall control. 

 

	3.	Capitalized Terms. Any capitalized term used herein and not otherwise defined herein shall have the meaning ascribed to such term in the Agreement. 

 

	4.	Representations. In order to induce Buyer to execute and deliver this Amendment, Seller hereby represents to Buyer that as of the date hereof, (i) Seller is in full compliance with all of the terms
and conditions of the Principal Agreements and remains bound by the terms thereof, and (ii) no Potential Default or Event of Default has occurred and is continuing under the Principal Agreements. 

 

	5.	Governing Law. This Amendment shall be construed in accordance with the laws of the State of New York without regard to any conflicts of law provisions (except for Section 5-1401 of the New York
General Obligations Law which shall govern). All legal actions between or among the parties regarding the Agreement, including, without limitation, legal actions to enforce the Agreement or because of a dispute, breach or default of the Agreement,
shall be brought in the federal or state courts located in New York County, New York, which courts shall have sole and exclusive in personam, subject matter and other jurisdiction in connection with such legal actions and the parties acknowledge and
agree that venue in such courts shall be convenient and appropriate for all purposes. 

  

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

  

	7.	Counterparts. For the purpose of facilitating the execution of this Amendment, and for other purposes, this Amendment may be executed simultaneously in any number of counterparts. Each counterpart shall be
deemed to be an original, and all such counterparts shall constitute one and the same instrument. Facsimile signatures shall be deemed valid and binding to the same extent as the original. 

[signature page follows] 

  
 2 

 IN WITNESS WHEREOF, Buyer and Seller have caused their names to be signed hereto by their respective officers
thereunto duly authorized as of the date first written above. Buyer shall have no obligation to honor the terms and conditions of this Amendment if Seller fails to fully execute and return this document to Buyer within three (3) days after the date
hereof. 
  

									
	BANK OF AMERICA, N.A.	 		 	LOANDEPOT.COM, LLC
					
	By:	 	 /s/ Adam Robitshek
	 		 	By:	 	 /s/ JON FROJEN

					
	Name:	 	Adam Robitshek	 		 	Name:	 	JON FROJEN
					
	Title:	 	Vice President	 		 	Title:	 	CHIEF FINANCIAL OFFICER

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00250-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00250-of-00352.parquet"}]]