Document:

EX-10.34

 Exhibit 10.34 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO
THE REGISTRANT IF PUBLICLY DISCLOSED. [***] INDICATES THAT INFORMATION HAS BEEN REDACTED 
 EXECUTION VERSION 

 
  

 
 MORTGAGE LOAN PARTICIPATION PURCHASE
AND SALE AGREEMENT 
 between 

LOANDEPOT.COM, LLC 
 Seller 

and 
 BARCLAYS BANK PLC 

Purchaser and Agent 
 Dated
August 25, 2020 
  
  

 

 TABLE OF CONTENTS 

Page 

							
	 Section 1.
	 	Definitions	  	 	2	 
			
	 Section 2.
	 	Procedures for Purchases of Participation Certificates	  	 	22	 
			
	 Section 3.
	 	Takeout Commitments	  	 	24	 
			
	 Section 4.
	 	Completion Fee	  	 	25	 
			
	 Section 5.
	 	Issuance of Securities	  	 	26	 
			
	 Section 6.
	 	Servicing of the Mortgage Loans; Servicer Termination; Backup Servicer	  	 	28	 
			
	 Section 7.
	 	Transfers of Participation Certificates and Securities by Purchaser	  	 	32	 
			
	 Section 8.
	 	Record Title to Mortgage Loans; Intent of Parties; Security Interest	  	 	33	 
			
	 Section 9.
	 	Representations and Warranties	  	 	34	 
			
	 Section 10.
	 	Covenants of Seller	  	 	37	 
			
	 Section 11.
	 	Term	  	 	41	 
			
	 Section 12.
	 	Set-Off	  	 	41	 
			
	 Section 13.
	 	Indemnification	  	 	42	 
			
	 Section 14.
	 	Exclusive Benefit of Parties; Assignment	  	 	42	 
			
	 Section 15.
	 	Amendments; Waivers; Cumulative Rights	  	 	43	 
			
	 Section 16.
	 	Execution in Counterparts	  	 	43	 
			
	 Section 17.
	 	Effect of Invalidity of Provisions	  	 	43	 
			
	 Section 18.
	 	Governing Law; Waiver of Jury Trial; Consent to Jurisdiction and Venue; Service of Process	  	 	43	 
			
	 Section 19.
	 	Notices	  	 	44	 
			
	 Section 20.
	 	Entire Agreement	  	 	44	 
			
	 Section 21.
	 	Costs of Enforcement	  	 	44	 
			
	 Section 22.
	 	Securities Contract; Netting Agreement	  	 	45	 
			
	 Section 23.
	 	Consent to Service	  	 	45	 
			
	 Section 24.
	 	Construction	  	 	45	 

  
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	 Section 25.
	 	Further Assurances	  	 	45	 
			
	 Section 26.
	 	Due Diligence	  	 	46	 
			
	 Section 27.
	 	Confidentiality	  	 	46	 
			
	 Section 28.
	 	Contractual Recognition of Bail-In.	  	 	47	 
			
	 Section 29.
	 	USA Patriot Act; OFAC and Anti-Terrorism.	  	 	48	 
			
	 Section 30.
	 	Contractual Recognition of UK Stay In Resolution	  	 	49	 
			
	 Section 31.
	 	Notice Regarding Client Money Rules	  	 	49	 
			
	 Section 32.
	 	Effect of Benchmark Transition Event	  	 	49	 

  

			
	 EXHIBITS
	  	
		
	Exhibit A	  	Participation Certificate
		
	Exhibit B	  	Trade Assignment
		
	Exhibit C	  	Reserved
		
	Exhibit D	  	Warehouse Lender’s Release
		
	Exhibit E	  	Assignment
		
	Exhibit F	  	Form of Confirmation
		
	Annex A	  	Purchaser Notices/Agent Notices/Seller Notices

  

  
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 MORTGAGE LOAN PARTICIPATION PURCHASE AND SALE AGREEMENT 

This is a MORTGAGE LOAN PARTICIPATION PURCHASE AND SALE AGREEMENT (“Agreement”), dated as of August 25, 2020, between
Barclays Bank PLC, as administrative agent (“Agent”) and purchaser (“Purchaser”) and loanDepot.com, LLC, as Seller (“Seller”). 

PRELIMINARY STATEMENT 
 Seller
desires to sell to Purchaser from time to time all of Seller’s beneficial right, title and interest in and to designated pools of fully amortizing first lien residential Mortgage Loans eligible in the aggregate to back Securities, and the
servicing rights relating thereto, with the terms described in related Takeout Commitments, each in the form of a 100% undivided beneficial ownership interest evidenced by a Participation Certificate. 

Purchaser desires and may, in its sole discretion, purchase such Participation Certificates from Seller in accordance with the terms and
conditions set forth in this Agreement. Seller, subject to the terms hereof, will cause (a) the Related Mortgage Loans to back a Security issued by Seller and guaranteed by the Applicable Agency, and (b) Delivery of such Security by the
Applicable Agency to Purchaser or its designee in exchange for the Related Participation Certificate, which Security will be purchased by a Takeout Investor. 

Purchaser’s willingness to purchase any Participation Certificate evidencing a beneficial interest in the Related Mortgage Loans and the
servicing rights related thereto is at the sole discretion of Purchaser and based on Purchaser’s expectation, in reliance upon Seller’s representations and warranties herein, that (a) such Mortgage Loans in the aggregate, constitute a
pool or pools of mortgage loans that are eligible to back a Security, (b) such Mortgage Loans are sufficient for Seller to issue and the Applicable Agency to guarantee the Security, (c) such Security will be issued in the amount and with
the terms described in the related Takeout Commitment, (d) Purchaser’s broker-dealer affiliate, Barclays Capital Inc. (“BCI”) will receive Delivery of such Security on the specified Anticipated Delivery Date on behalf of
Purchaser, and (e) such Security will be purchased by the related Takeout Investor. 
 The amount of the Purchase Price and the
Completion Fee to be paid by Purchaser to Seller with respect to each Participation Certificate will be calculated on the expectation of Purchaser, based upon the representations and warranties of Seller herein, that Purchaser or BCI, on behalf of
Purchaser, will receive Delivery of the Security to be backed by the Related Mortgage Loans on the specified Anticipated Delivery Date, that failure to receive such Delivery will result in a material decrease in the market value of the Participation
Certificate and the Related Mortgage Loans considered as a whole and that the related Takeout Investor will purchase the Security from Purchaser or BCI, on behalf of Purchaser. During the period from the purchase of a Participation Certificate to
Delivery of the related Security, Purchaser expects to rely entirely upon Seller (or its designated subservicer) to subservice the Related Mortgage Loans for the benefit of Purchaser, it being acknowledged that the continued effectiveness of
Seller’s (or such subservicer’s) Approvals during such period constitutes an essential factor in the calculation by Agent of the Purchase Price and the Completion Fee paid to Seller for the Related Participation Certificate and that loss
of such Approvals by Seller would result in a material decrease in the market value of the Participation Certificate and the Related Mortgage Loans considered as a whole. 

 In consideration of the mutual promises and agreements herein contained the receipt and
sufficiency of which are hereby acknowledged, the parties hereto as follows: 
 Section 1. Definitions. 

Capitalized terms used but not defined herein shall have the meanings set forth in the Custodial Agreement or the Master Repurchase Agreement,
each as defined below. As used in this Agreement, the following terms shall have the following meanings: 
 “30+ Day Delinquent
Mortgage Loan” means any Mortgage Loan that, as of any determination date, using the MBA Methodology, is thirty (30) or more days delinquent (inclusive of any grace period). 

“Accepted Servicing Practices” means with respect to any Mortgage Loan, those accepted, customary and prudent mortgage
servicing practices (including collection procedures) of prudent mortgage banking institutions that service mortgage loans of the same type as the Mortgage Loans in the jurisdiction where the related Mortgaged Property is located, and which are in
accordance with the requirements of each Agency Program, applicable law, FHA regulations and VA regulations, if applicable, and the requirements of any private mortgage insurer so that the FHA insurance, VA guarantee or any other applicable
insurance or guarantee in respect of any Mortgage Loan is not voided or reduced. 
 “Adjustable Rate Mortgage Loan” means a
Mortgage Loan that provides for the adjustment of the Mortgage Interest Rate payable in respect thereto. 
 “Affiliate”
means, with respect to any specified Person, any other Person controlling or controlled by or under common control with such specified Person. For the purposes of this definition, “control” means the power to direct the management and
policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise and the terms “controlling,” “controlled by” and “under common control with” have meanings
correlative to the meaning of “control.” Notwithstanding the foregoing, none of Offerpad Home Loans, LLC, MTH Mortgage, LLC, MSC Mortgage, LLC, TRI Pointe Connect, LLC, Day One Mortgage, LLC, CUSA Affordable Housing, LLC, Commercial Agency
USA, LLC, LD Escrow, Inc., any joint venture formed by Seller after the date hereof, LD Investment Holdings, Inc., Parthenon Investors IV, LP, Parthenon Capital Partners Fund II, LP, Parthenon loanDepot Partners, LP, Trilogy Mortgage Holdings, Inc.,
Parthenon Investors III, L.P., PCap Associates, Parthenon Capital Partners Fund, L.P., JLSA, LLC and Anthony Hsieh and his immediate family members and his family trusts shall be considered an Affiliate for purposes of this Agreement or any other
Program Document. 
 “Agency” means Freddie Mac, Fannie Mae or Ginnie Mae, as applicable. 

“Agency Guide” means the Freddie Mac Guide, the Fannie Mae Guide, or the Ginnie Mae Guide, as applicable. 

  
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 “Agency Mortgage Loans” means Fannie Mae Mortgage Loans, Freddie Mac
Mortgage Loans, and Ginnie Mae Mortgage Loans. For the avoidance of doubt, the term “Agency Mortgage Loans” does not include Agency Scratch and Dent Mortgage Loans. 

“Agency Program” means the Freddie Mac Program, the Fannie Mae Program, or the Ginnie Mae Program, as applicable. 

“Agency Scratch and Dent Mortgage Loan” means a first lien Mortgage Loan originated by Seller and intended to be originated
in accordance with the criteria of Fannie Mae, Freddie Mac or Ginnie Mae, as applicable, except such Mortgage Loan is not eligible for sale to or pooling with the Agency. 

“Agent” means Barclays Bank PLC and its successors in interest, as administrative agent for Purchaser and any additional
purchasers that may become a party hereto. 
 “Aggregate EPF Purchase Price” means, as of any date of determination, an
amount equal to the aggregate Purchase Price for all Participation Certificates then owned by Purchaser and subject to the terms of this Agreement. 

“Aggregate MRA Purchase Price” means as of any date of determination, an amount equal to the aggregate Purchase Price (as
defined in the Master Repurchase Agreement) for all Purchased Assets (as defined in the Master Repurchase Agreement) then subject to Transactions under the Master Repurchase Agreement. 

“Anticipated Delivery Date” means, with respect to a Security, the date specified in the related Form HUD 11705 (Schedule of
Subscribers), Fannie Mae Form 2014 (Delivery Schedule) or Freddie Mac Form 939 (Settlement and Information Multiple Registration Form), as applicable, on which it is anticipated that Delivery of the Security by the Applicable Agency will be made,
which date shall occur no more than thirty (30) days following the related Purchase Date. 
 “Applicable Agency” means
Ginnie Mae, Fannie Mae, or Freddie Mac, as applicable. 
 “Applicable Margin” has the meaning assigned thereto in the
Pricing Side Letter. 
 “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. 
 “Approvals” means with respect to Seller, the
approvals obtained from the Applicable Agency or HUD in designation of Seller as a Ginnie Mae-approved issuer, an FHA-approved mortgagee, a VA-approved lender, a Fannie Mae-approved lender or a Freddie Mac-approved Seller/Servicer, as applicable, in good standing. 

“Assignee” shall have the meaning assigned thereto in Section 7. 

  
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 “Assignment of Mortgage” means, with respect to any Mortgage, 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 assignment of the Mortgage to Purchaser. 

“ATR Rules” means the “ability to repay” rules specified in the federal Truth-in-Lending Act as amended pursuant to rulemaking authority provided under the federal Dodd-Frank Act which require lenders to make a reasonable, good-faith determination that a Mortgagor has an ability
to repay the loan as determined by the following eight (8) underwriting factors: (i) current or reasonably expected income or assets (other than the value of the property that secures the loan) that the Mortgagor will rely on to repay the
loan, (ii) current employment status (if the originator relies on employment income when assessing the Mortgagor’s ability to repay), (iii) monthly mortgage payment for the loan, (iv) monthly payment on any simultaneous loans secured
by the same property, (v) monthly payments for property taxes and required insurance, and certain other costs related to the property such as homeowners association fees or ground rent, (vi) debts, alimony, and child-support obligations,
(vii) monthly debt-to-income ratio or residual income, calculated using the total of all of the mortgage and nonmortgage obligations listed above, as a ratio of
gross monthly income and (viii) credit history. 
 “Bail-In Action” means the
exercise by the Bank of England (or any successor resolution authority) of any write-down or conversion power existing from time to time (including, without limitation, any power to amend or alter the maturity of eligible liabilities of an
institution under resolution or amend the amount of interest payable under such eligible liabilities or the date on which interest becomes payable, including by suspending payment for a temporary period and together with any power to terminate and
value transactions) under, and exercised in compliance with, any laws, regulations, rules or requirements in effect in the United Kingdom relating to the transposition of the European Banking Recovery and Resolution Directive as amended from time to
time, including but not limited to, the Banking Act 2009 as amended from time to time, and the instruments, rules and standards created thereunder, pursuant to which Purchaser’s obligations (or those of Purchaser’s affiliates) can be
reduced (including to zero), canceled or converted into shares, other securities, or other obligations of Purchaser or any other person. 

“Bank” means (i) Deustche Bank National Trust Company and its successors and permitted assigns or (ii) such other
bank as may be mutually acceptable to the Seller and the Purchaser. 
 “Bankruptcy Code” means 11 U.S.C. §§ 101
et seq., as amended from time to time. 
 “Benchmark Replacement” means the sum of: (a) the alternate
benchmark rate (which may be a SOFR-Based Rate) that has been selected by the Agent and the Seller giving due consideration to (i) any selection or recommendation of a replacement rate or the mechanism for determining such a rate by the
Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a rate of interest as a replacement to LIBOR for U.S. dollar-denominated syndicated credit facilities and (b) the Benchmark Replacement
Adjustment; provided that, if the Benchmark Replacement as so determined would be less than zero, the Benchmark Replacement will be deemed to be zero for the purposes of this Agreement; provided further that any such Benchmark Replacement shall be
administratively feasible as determined by the Agent in its reasonable discretion. 

  
 - 4 - 

 “Benchmark Replacement Adjustment” means, with respect to any replacement
of LIBOR with an Unadjusted Benchmark Replacement for each applicable Accrual Period, the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected
by the Agent and the Seller giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of LIBOR with the applicable Unadjusted
Benchmark Replacement by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of LIBOR
with the applicable Unadjusted Benchmark Replacement for U.S. dollar-denominated syndicated credit facilities at such time. 

“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or
operational changes (including changes to the definition of “Accrual Period,” timing and frequency of determining rates and making payments of interest and other administrative matters) that the Agent decides may be appropriate to reflect
the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Agent in a manner substantially consistent with market practice (or, if the Agent decides that adoption of any portion of such market
practice is not administratively feasible or if the Agent determines that no market practice for the administration of the Benchmark Replacement exists, in such other manner of administration as the Agent decides is reasonably necessary in
connection with the administration of this Agreement). 
 “Benchmark Replacement Date” means the earlier to occur of the
following events with respect to LIBOR: 
 (1) in the case of clause (a) or (b) of the definition of “Benchmark
Transition Event,” the later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of LIBOR permanently or indefinitely ceases to provide LIBOR; or 

(2) in the case of clause (c) of the definition of “Benchmark Transition Event,” the date of the public
statement or publication of information referenced therein. 
 “Benchmark Transition Event” means the occurrence of one or
more of the following events with respect to LIBOR: 
 (a) a public statement or publication of information by or on behalf
of the administrator of LIBOR announcing that such administrator has ceased or will cease to provide LIBOR, permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will
continue to provide LIBOR; 

  
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 (b) a public statement or publication of information by the regulatory
supervisor for the administrator of LIBOR, the U.S. Federal Reserve System, an insolvency official with jurisdiction over the administrator for LIBOR, a resolution authority with jurisdiction over the administrator for LIBOR or a court or an entity
with similar insolvency or resolution authority over the administrator for LIBOR, which states that the administrator of LIBOR has ceased or will cease to provide LIBOR permanently or indefinitely, provided that, at the time of such statement or
publication, there is no successor administrator that will continue to provide LIBOR; or 
 (c) a public statement or
publication of information by the regulatory supervisor for the administrator of LIBOR announcing that LIBOR is no longer representative. 

“Benchmark Transition Start Date” means (a) in the case of a Benchmark Transition Event, the earlier of (i) the
applicable Benchmark Replacement Date and (ii) if such Benchmark Transition Event is a public statement or publication of information of a prospective event, the 90th day prior to the expected date of such event as of such public statement or
publication of information (or if the expected date of such prospective event is fewer than 90 days after such statement or publication, the date of such statement or publication) and (b) in the case of an Early
Opt-in Election, the date specified by the Agent by notice to the Seller, the Agent (in the case of such notice by the Purchaser) and the Purchaser. 

“Benchmark Unavailability Period” means, if a Benchmark Transition Event and its related Benchmark Replacement Date have
occurred with respect to LIBOR and solely to the extent that LIBOR has not been replaced with a Benchmark Replacement, the period (x) beginning at the time that such Benchmark Replacement Date has occurred if, at such time, no Benchmark
Replacement has replaced LIBOR for all purposes hereunder in accordance with the Section titled “Effect of Benchmark Transition Event” and (y) ending at the time that a Benchmark Replacement has replaced LIBOR for all purposes
hereunder pursuant to the Section titled “Effect of Benchmark Transition Event.” 
 “Business Day” means any day
other than (i) a Saturday or Sunday, or (ii) a day upon which the New York Stock Exchange or the Federal Reserve Bank of New York is closed. 

“Change in Control” means (a) the acquisition by any Person, or two (2) or more Persons acting in concert, of
beneficial ownership (within the meaning of Rule 13d-3 of the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended) of outstanding shares of voting stock (or equivalent
equity interests) of Seller at any time if, after giving effect to such acquisition, Parthenon Investors III, L.P., PCap Associates, Parthenon Capital Partners Fund, L.P., JLSA, LLC, Parthenon Investors IV, LP, Parthenon Capital Partners Fund II,
LP, Parthenon loanDepot Partners, LP, Trilogy Mortgage Holdings, Inc. and Anthony Hsieh and his immediate family members and his family trusts, do not together own and control, directly or indirectly, more than fifty percent (50%) of the outstanding
voting equity interests of Seller, (b) the sale, transfer, or other disposition of all or substantially all of Seller’s assets (excluding any such action taken in connection with any securitization transaction or routine sales of Mortgage
Loans) or (c) the consummation of a merger or consolidation of Seller with or into another entity or any other corporate reorganization, if more than 50% of the combined voting power of the continuing or surviving entity’s equity
outstanding immediately after such merger, consolidation or such other reorganization is owned by persons who were not equityholders of the Seller immediately prior to such merger, consolidation or other reorganization. 

  
 - 6 - 

 “Client Money Distribution Rules” has the meaning assigned thereto in
Section 31(b) hereof. 
 “Client Money Rules” has the meaning assigned thereto in Section 31(a) hereof. 

“Collateral” has the meaning assigned thereto in Section 8(c). 

“Completion Fee” means, with respect to each Participation Certificate, an amount equal to the Discount plus the Net Carry
Adjustment, less any reduction pursuant to Section 5(b), which amount shall be payable to Seller by Purchaser in two installments as provided in Section 4(a), the Initial Completion Fee Installment
and the Final Completion Fee Installment, as compensation to Seller for its services in connection with the issuance of the related Security and performance of its obligations under this Agreement. 

“Compounded SOFR” means the compounded average of SOFRs for the applicable month, with the rate, or methodology for this
rate, and conventions for this rate (which may include compounding in arrears with a lookback and/or suspension period as a mechanism to determine the interest amount payable prior to the end of each Accrual Period) being established by the Agent in
accordance with: 
 (a) the rate, or methodology for this rate, and conventions for this rate selected or recommended by the Relevant
Governmental Body for determining compounded SOFR; or 
 (b) if, and to the extent that, the Agent determines that Compounded SOFR cannot be
determined in accordance with clause (a) above, then the rate, or methodology for this rate, and conventions for this rate that the Agent determines in its reasonable discretion are substantially consistent with any evolving or then-prevailing
market convention for determining compounded SOFR for U.S. dollar-denominated syndicated credit facilities at such time; 
 provided that if
the Agent decides that any such rate, methodology or convention determined in accordance with clause (a) or clause (b) above is not administratively feasible for the Agent, then Compounded SOFR will be deemed unable to be determined for
purposes of the definition of “Benchmark Replacement.” 
 “Confirmation” means a written confirmation of
Purchaser’s intent to purchase a Participation Certificate, which written confirmation shall be substantially in the form attached hereto as Exhibit F. 

“Custodial Account” has the meaning ascribed thereto in the Custodial Account Control Agreement. 

  
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 “Custodial Account Control Agreement” means the Custodial Account Control
Agreement, dated of even date herewith, among Seller, Purchaser and Bank entered into in connection with this Agreement, as amended, supplemented or otherwise modified from time to time. 

“Custodial Agreement” means that certain Custodial and Disbursement Agreement, dated as of August 25, 2020, among
Seller, Purchaser, Agent, Disbursement Agent and Custodian, entered into in connection with this Agreement and the Master Repurchase Agreement, as the same may be amended, modified or supplemented from time to time. 

“Custodian” means Deutsche Bank National Trust Company, and its successors and permitted assigns, or such other entity as
mutually agreed upon by Agent and Seller. 
 “Daily Completion Fee Reduction Amount” shall have the meaning assigned
thereto in the Pricing Side Letter. 
 “Defective Mortgage Loan” means, with respect to a Participation Certificate, a
Related Mortgage Loan that is not in Strict Compliance with the Ginnie Mae Program, Fannie Mae Program, or Freddie Mac Program, as applicable. 

“Delinquent” means, with respect to any Mortgage Loan, that a monthly payment due thereon is not made by the close of
business on the Due Date. 
 “Delivery” means the later to occur of (a) the issuance of the related Security and
(b) the transfer of all of the right, title and ownership interest in that Security to Purchaser or its designee. 

“Disbursement Agent” means Deutsche Bank National Trust Company and its successors and permitted assigns, or such other
entity as mutually agreed upon by Agent and Seller. 
 “Discount” has the meaning set forth in the Pricing Side Letter.

 “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. 
 “Due Diligence Review Amount” has the meaning set forth in the MRA Pricing Side Letter. 

“Early Opt-in Election” means the occurrence of: 

(1) (i) a determination by the Agent or (ii) a notification by the Purchaser to the Agent (with a copy to the Seller)
that the Purchaser have determined that U.S. dollar-denominated syndicated or bilateral credit facilities being executed at such time, or that include language similar to that contained in this Section titled “Effect of Benchmark Transition
Event,” are being executed or amended, as applicable, to incorporate or adopt a new benchmark interest rate to replace LIBOR, and 

  
 - 8 - 

 (2) (i) the election by the Agent or (ii) the election by the
Purchaser to declare that an Early Opt-in Election has occurred and the provision, as applicable, by the Agent of written notice of such election to the Seller and the Purchaser or by the Purchaser of written
notice of such election to the Agent. 
 “Effective Date” shall have the meaning assigned thereto in the Master Repurchase
Agreement. 
 “Electronic Agent” shall have the meaning assigned thereto in Section 2 of the
Electronic Tracking Agreement. 
 “Electronic Tracking Agreement” means one or more Electronic Tracking Agreements with
respect to (x) the tracking of changes in the ownership, mortgage servicers and servicing rights ownership of Purchased Mortgage Loans held on the MERS System, and (y) the tracking of the Control of eNotes held on the MERS eRegistry, each
in a form acceptable to Agent. 
 “Electronic Transmission” means the delivery of information in an electronic format
acceptable to the applicable recipient thereof. An Electronic Transmission shall be considered written notice for all purposes hereof (except when a request or notice by its terms requires execution). 

“Eligible Mortgage Loan” means a Mortgage Loan that (i) satisfies each of the representations and warranties in
Exhibit B to the Master Repurchase Agreement in all material respects, (ii) if such Mortgage Loan is (a) a Fannie Mae Mortgage Loan, a Freddie Mac Mortgage Loan, or a Ginnie Mae Mortgage Loan, it is in Strict Compliance with the
eligibility requirements of the Ginnie Mae Program, Fannie Mae Program or Freddie Mac Program, as applicable, (b) a Jumbo Mortgage Loan, (iii) with respect to all Mortgage Loans other than Wet-Ink
Mortgage Loans, contains all required documents in the Mortgage File without exceptions unless otherwise waived by Purchaser or permitted pursuant to the terms of this Agreement or the Custodial and Disbursement Agreement, and (iv) satisfies
the Additional Eligible Loan Criteria. 
 “eMortgage Loan” means a Mortgage Loan with respect to which there is an eNote
and as to which some or all of the other documents comprising the related Mortgage File may be created electronically and not by traditional paper documentation with a pen and ink signature. 

“eNote” means, with respect to any eMortgage Loan, the electronically created and stored Mortgage Note that is a Transferable
Record. 
 “E-Sign” means the federal Electronic Signatures in Global and National
Commerce Act, as amended from time to time. 

  
 - 9 - 

 “Escrow Agreement” means that certain Fourth Amended and Restated Escrow
Agreement, dated as of August 16, 2016, as amended through that certain Amendment No. 7 and Joinder to Fourth Amended and Restated Escrow Agreement, dated as of the date hereof, by and among Seller, Purchaser and the other parties thereto,
as the same may be amended, supplemented or otherwise modified from time to time. 
 “Escrow Payments” means, with respect
to a Mortgage Loan, the amounts constituting ground rents, taxes, assessments, water charges, sewer rents, municipal charges, mortgage insurance premiums, fire and hazard insurance premiums, condominium charges and other payments as may be required
to be escrowed by the Mortgagor with the Mortgagee pursuant to the terms of the Mortgage or any other document. 

“Event of Insolvency” means, with respect to any Person, 

(i) the filing of a voluntary petition (or the consent by such Person to the filing of any such petition against it),
commencing, or authorizing the commencement 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; or such Person shall consent or seek to the appointment of or taking possession by a custodian, receiver, conservator, trustee, liquidator, sequestrator or similar official of such Person, or for any substantial part of its
Property, or any general assignment for the benefit of creditors; 
 (ii) a proceeding shall have been instituted against
such Person under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution, moratorium, delinquency or liquidation law of any jurisdiction, whether now or subsequently in effect, or a custodian, receiver,
conservator, liquidator, trustee, sequestrator or similar official for such Person or such Person’s Property (as a debtor or creditor protection procedure) is appointed by any Governmental Authority having the jurisdiction to do so or takes
possession of such Property and any such proceeding is not stayed or dismissed within sixty (60) days of filing; 

(iii) that such Person or any Affiliate shall become insolvent as such term is defined in Section 101(32)(A) of the
Bankruptcy Code; 
 (iv) that such Person shall (a) admit in writing its inability to pay or discharge its debts or
obligations generally as they become due or mature, (b) admit in writing its inability to, or intention not to, perform any of its material obligations, or (c) generally fail to pay any of its debts or obligations as they become due or
mature; or 
 (v) any Governmental Authority shall have seized or appropriated, or assumed custody or control of, all or any
substantial part of the Property of such Person, or shall have taken any action to displace the management of such Person. 

“Fannie Mae” means the Federal National Mortgage Association or any successor thereto. 

“Fannie Mae Guide” means the Fannie Mae MBS Selling and Servicing Guide, as such Guide may hereafter from time to time be
amended. 

  
 - 10 - 

 “Fannie Mae Mortgage Loan” means, with respect to any Fannie Mae
Participation Certificate or any Fannie Mae Security, a mortgage loan that is in Strict Compliance on the related Purchase Date with the eligibility requirements specified for the applicable Fannie Mae Program described in the Fannie Mae Guide. 

“Fannie Mae Participation Certificate” means, with respect to the Fannie Mae Program, a certificate, substantially in the
form of Exhibit A, authenticated by Custodian, evidencing the 100% undivided beneficial ownership interest in the Fannie Mae Mortgage Loans set forth on Fannie Mae Form 2005 (Schedule of Mortgages). 

“Fannie Mae Program” means the Fannie Mae Guaranteed Mortgage-Backed Securities Programs, as described in the Fannie Mae
Guide. 
 “Fannie Mae Security” means an ownership interest in a pool of Fannie Mae Mortgage Loans, evidenced by a
book-entry account in a depository institution having book-entry accounts at the Federal Reserve Bank of New York, issued and guaranteed, with respect to timely payment of interest and ultimate payment of principal, by Fannie Mae and backed by a
pool of Fannie Mae Mortgage Loans, in substantially the principal amount and with substantially the other terms as specified with respect to such Fannie Mae Security in the related Takeout Commitment, if any. 

“FCA” means the United Kingdom Financial Conduct Authority. 

“FDIA” means Title 12 United States Code, Section 1811 et seq., as amended from time to time. 

“FDIC” means the Federal Deposit Insurance Corporation or any successor thereto. 

“FHA” means the Federal Housing Administration, an agency within HUD, 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 203k
Loan” means a Mortgage Loan that is eligible for FHA’s 203(k) loan program. 
 “FICO Score” means the credit
score of the Mortgagor provided by Fair, Isaac & Company, Inc. or such other organization providing credit scores on or immediately prior to the origination of a Mortgage Loan. 

“Final Completion Fee Installment” means the amount equal to the difference between the Completion Fee and the Initial
Completion Fee Installment. 
 “Final Purchase Price Installment” means the amount equal to the difference between the
Trade Principal and the Initial Purchase Price Installment. 
 “First-Lien State Bond Loans” means a State Bond Loan with
respect to which the Mortgage represents a first lien on the related Mortgaged Property. 

  
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 “Freddie Mac” means the Federal Home Loan Mortgage Corporation, and its
successors in interest. 
 “Freddie Mac as Custodian” means, with respect to Freddie Mac Participation Certificates, the
circumstances in which Seller elects to appoint Freddie Mac (as opposed to some other third party as permitted by the Freddie Mac Guide) as Custodian for the Freddie Mac Mortgage Loans subject to the Freddie Mac Participation Certificates to be
purchased by Purchaser hereunder. 
 “Freddie Mac Guide” means the Freddie Mac Sellers’ and Servicers’ Guide, as
such Guide may hereafter from time to time be amended. 
 “Freddie Mac Mortgage Loan” means, with respect to any Freddie
Mac Participation Certificate or any Freddie Mac Security, a mortgage loan that is in Strict Compliance on the related Purchase Date with the eligibility requirements specified for the applicable Freddie Mac Program described in the Freddie Mac
Guide. 
 “Freddie Mac Participation Certificate” means, with respect to the Freddie Mac Program, a certificate,
substantially in the form of Exhibit A, issued by Seller and authenticated by Custodian, evidencing the 100% undivided beneficial ownership interest in the Freddie Mac Mortgage Loans that are either (a) set forth on a copy of the Freddie
Mac Form 1034 (Fixed-Rate Custodial Certification Schedule) attached to such Participation Certificate or (b) identified on a computer tape compatible with Selling System as belonging to the mortgage loan pool described in such Participation
Certificate. 
 “Freddie Mac Program” means the Freddie Mac Home Mortgage Guarantor Program or the Freddie Mac FHA/VA Home
Mortgage Guarantor Program, as described in the Freddie Mac Guide. 
 “Freddie Mac Security” means a modified pass-through
mortgage-backed participation certificate, evidenced by a book-entry account in a depository institution having book-entry accounts at the Federal Reserve Bank of New York, issued and guaranteed, with respect to timely payment of interest and
ultimate payment of principal, by Freddie Mac and backed by a pool of Freddie Mac Mortgage Loans, in substantially the principal amount and with substantially the other terms as specified with respect to such Freddie Mac Security in the related
Takeout Commitment, if any. 
 “GAAP” means generally accepted accounting principles as in effect from time to time in the
United States of America. 
 “Ginnie Mae” means the Government National Mortgage Association and its successors in
interest, a wholly-owned corporate instrumentality of the government of the United States of America. 
 “Ginnie Mae Guide”
means the Ginnie Mae Mortgage-Backed Securities Guide, as such Guide may hereafter from time to time be amended. 

  
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 “Ginnie Mae Mortgage Loan” means, with respect to any Ginnie Mae
Participation Certificate or any Ginnie Mae Security, a mortgage loan that is in Strict Compliance on the related Purchase Date with the eligibility requirements specified for the applicable Ginnie Mae Program in the applicable Ginnie Mae Guide.

 “Ginnie Mae Participation Certificate” means, with respect to the Ginnie Mae Program, a certificate, substantially in
the form of Exhibit A, issued by Seller and authenticated by Custodian, evidencing the 100% undivided beneficial ownership interest in the Ginnie Mae Mortgage Loans set forth on the Form HUD 11706 (Schedule of Pooled Mortgages). 

“Ginnie Mae Program” means the Ginnie Mae Mortgage-Backed Securities Programs, as described in the Ginnie Mae Guide. 

“Ginnie Mae Security” means a fully-modified pass-through mortgage-backed certificate guaranteed by Ginnie Mae, evidenced by
a book-entry account in a depository institution having book-entry accounts at the Federal Reserve Bank of New York and backed by a pool of Ginnie Mae Mortgage Loans, in substantially the principal amount and with substantially the other terms as
specified with respect to such Ginnie Mae Security in the related Takeout Commitment. 
 “Governmental Authority” means any
nation or government, any state or other political subdivision, agency or instrumentality thereof, or any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government and any court or
arbitrator having jurisdiction over Seller. 
 “High Cost Mortgage Loan” means a Mortgage Loan that is (a) subject to,
covered by or in violation of the provisions of the Homeownership and Equity Protection Act of 1994, as amended, (b) a “high cost,” “covered,” “threshold,” “abusive,” “predatory” or “high
risk” mortgage loan under any federal, state or local law, or any similarly classified loan using different terminology under any law imposing heightened regulation, scrutiny or additional legal liability for residential mortgage loans having
high interest rates, points and/or fees, or any other state or other regulation providing assignee liability to holders of such mortgage loans, (c) subject to or in violation of any such or comparable federal, state or local statutes or
regulations, or (d) a “High Cost Loan” or “Covered Loan,” as applicable, as such terms are defined in the current version of the Standard & Poor’s
LEVELS® Glossary Revised, Appendix E. 
 “HUD” means the
Department of Housing and Urban Development, or any federal agency or official thereof which may from time to time succeed to the functions thereof with regard to FHA mortgage insurance. The term “HUD,” for purposes of this Agreement, is
also deemed to include subdivisions thereof such as the FHA and Ginnie Mae. 
 “Indebtedness” has the meaning assigned
thereto in the MRA Pricing Side Letter. 
 “Initial Completion Fee Installment” shall have the meaning assigned thereto the
Pricing Side Letter. 
 “Initial Purchase Price Installment” means, with respect to any Participation Certificate, the
excess of the related Trade Principal over the Discount. 

  
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 “Intercreditor Agreement” means that certain Fourth Amended and Restated
Intercreditor Agreement, dated as of August 16, 2016, as amended through that certain Amendment No. 7 and Joinder to Fourth Amended and Restated Intercreditor Agreement, dated as of the date hereof, by and among Seller, Purchaser and the
other parties thereto, as the same may be amended, supplemented or otherwise modified from time to time. 
 “Issuance Date”
means, with respect to a Security, the first day of the month in which the Security is issued. 
 “Joint Securities Account Control
Agreement” means that certain Fourth Amended and Restated Joint Securities Account Control Agreement, dated as of August 16, 2016, as amended through that certain Amendment No. 7 and Joinder to Fourth Amended and Restated Joint
Securities Account Control Agreement, dated as of the date hereof, by and among Seller, Purchaser and the other parties thereto, as the same may be amended, supplemented or otherwise modified from time to time. 

“Jumbo Mortgage Loan” means a first lien Mortgage Loan which (i) conforms with all requirements of Seller’s
underwriting guidelines, which are subject to Purchaser’s approval in its sole good faith discretion, as the same may be amended, supplemented or otherwise modified from time to time and (ii) has the benefit of the safe harbor from
liability under the ATR Rules or a rebuttable presumption for such liability. 
 “LIBOR” means for each day, the rate
(adjusted for statutory reserve requirements for eurocurrency liabilities) for eurodollar deposits for a period equal to one month appearing on Bloomberg Screen US 0001M Page or if such rate ceases to appear on Bloomberg Screen US 0001M Page, or any
other service providing comparable rate quotations at approximately 11:00 a.m., London time, on the applicable date of determination, or such interpolated rate as determined by the Agent. 

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

“Loan-to-Value Ratio” means, as of any date
of determination, the fraction, expressed as a percentage, the numerator of which is the principal balance of the related Mortgage Loan at such date and the denominator of which is the lesser of (a) the Appraised Value of the Mortgaged Property
at the origination or, if no appraisal was required, the “AUS estimated value,” of such Mortgage Loan, and (b) if the Mortgaged Property was purchased within twelve (12) months of the origination of the Mortgage Loan, the
purchase price of the related Mortgaged Property. 
 “Losses” means any and all claims, damages, losses, liabilities and
all other reasonable and documented expenses including out-of-pocket expenses (including, without limitation, reasonable fees and expenses of outside counsel) imposed
on, incurred by or asserted against any Person specified. 

  
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 “Master Netting Agreement” means that certain Global Netting and Security
Agreement, dated as of August 25, 2020, among Purchaser, Seller, and certain Affiliates of Purchaser, entered into in connection with this Agreement and the Master Repurchase Agreement, as the same shall be amended, supplemented or otherwise
modified from time to time. 
 “Master Repurchase Agreement” means that certain Master Repurchase Agreement, dated as of
the date hereof, by and among Purchaser, Agent and Seller, as the same shall be amended, supplemented or otherwise modified from time to time. 

“Material Adverse Change” means, with respect to a Person, any material adverse change in the business, financial condition,
operations or Property of such Person including the insolvency of such Person or its Parent Company, if applicable. 
 “Material
Adverse Effect” means (a) a Material Adverse Change with respect to Seller or any of its Affiliates that is a party to any Program Document; (b) a material impairment of the ability of Seller or Servicer or any of their respective
Affiliates that is a party to any Program Document to perform under any Program Document to which it is a party; (c) a material adverse effect upon the legality, validity, binding effect or enforceability of any Program Document against Seller
or any of its Affiliates that is a party to any Program Document; (d) a material adverse effect on the Market Value of the Purchased Assets, taken as a whole; or (e) a material adverse effect on the Approvals of Seller. 

“Maturity Date” has the meaning assigned thereto in the MRA Pricing Side Letter. 

“Maximum Aggregate Purchase Price” has the meaning assigned thereto in the MRA Pricing Side Letter. 

“MERS” means Mortgage Electronic Registration Systems, Inc., a Delaware corporation, or any successor in interest thereto.

 “MERS Designated Mortgage Loan” means any Mortgage Loan as to which the related Mortgage or Assignment of Mortgage, has
been recorded in the name of MERS, as agent for the holder from time to time of the Mortgage Note. 
 “MERS System” means
the system of recording transfers of mortgages electronically maintained by MERS. 
 “MIN” means the mortgage
identification number of Mortgage Loans registered with MERS on the MERS System. 
 “Modified Loan” means an Eligible
Mortgage Loan that (a) is insured by FHA or guaranteed by the VA, (b) (1) was purchased out of a Ginnie Mae Security or from a third-party whole loan investor solely as a result of modifications to such Eligible Mortgage Loan, or
(2) was purchased out of a Ginnie Mae Security or from a third-party whole loan investor as a result of delinquent mortgage payments, but, without any loan modifications, subsequently became reperforming and (c) is a Ginnie Mae Mortgage
Loan. 

  
 - 15 - 

 “Monthly Payment” means the scheduled monthly payment of principal and
interest on a Mortgage Loan as adjusted in accordance with changes in the Mortgage Interest Rate pursuant to the provisions of the Mortgage Note for an Adjustable Rate Mortgage Loan. 

“Mortgage” means a mortgage, deed of trust or other security instrument, securing a Mortgage Note. 

“Mortgage File” has the meaning assigned thereto in the Custodial Agreement. 

“Mortgage Loan” means a Ginnie Mae Mortgage Loan, a Fannie Mae Mortgage Loan, a Freddie Mac Mortgage Loan, a Jumbo Mortgage
Loan, an Agency Scratch and Dent Mortgage Loan, an FHA 203k Loan, or a Modified Loan. 
 “Mortgage Interest Rate” means,
with respect to each Mortgage Loan, the annual rate at which interest accrues on such Mortgage Loan from time to time in accordance with the provisions of the related Mortgage Note. 

“Mortgage Note” means a promissory note or other evidence of indebtedness of the obligor thereunder, evidencing a Mortgage
Loan, and secured by the related Mortgage. 
 “Mortgaged Property” means the real property (or leasehold estate, if
applicable) securing repayment of the debt evidenced by a Mortgage Note. 
 “Mortgagee” means the record holder of a
Mortgage Note secured by a Mortgage. 
 “Mortgagor” means the obligor or obligors on a Mortgage Note, including any person
who has assumed or guaranteed the obligations of the obligor thereunder. 
 “MRA Collection Account Control Agreement”
means that certain Collection Account Control Agreement, dated as of the date hereof, among Seller, Purchaser and the Bank entered into in connection with the Master Repurchase Agreement, as the same shall be amended, supplemented or otherwise
modified from time to time. 
 “MRA Pricing Side Letter” means that certain Master Repurchase Agreement Pricing Side
Letter, dated as of the date hereof, between Seller and Purchaser, entered into in connection with this Agreement, as the same may be amended, modified or supplemented from time to time. 

“MRA Program Documents” means the Master Repurchase Agreement, the MRA Pricing Side Letter, the MRA Collection Account
Control Agreement, any assignment of Hedge Instrument, the Electronic Tracking Agreement, the Master Netting Agreement, the Escrow Agreement, the Intercreditor Agreement, the Joint Securities Account Control Agreement, and all other agreements,
documents and instruments entered into by Seller on the one hand, and Purchaser or one of its Affiliates (or Custodian on its behalf) and/or Agent or one of its Affiliates on the other, in connection therewith with respect to the Transactions
contemplated thereunder and all amendments, restatements, modifications or supplements thereto. 

  
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 “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 such Mortgage Loan. 

“Net Carry Adjustment” means an amount (which may be a negative number) equal to (a) the difference between (i) the
product of (A) the rate of interest to be borne by the related Security multiplied by the aggregate principal amount of the Related Mortgage Loans evidenced by the related Participation Certificate, and (B) the number of days in the period
beginning on the Issuance Date of such Security, but excluding the related Settlement Date, and (ii) the product of (A) the daily application of the applicable Transaction Rate to the Purchase Price, and (B) the number of days in the
period beginning on the date of the purchase of the related Participation Certificate under this Agreement, but excluding the related Settlement Date, (b) divided by 360. 

“Non-First-Lien State Bond Loans” means a State Bond Loan that is not a First-Lien
State Bond Loan.” 
 “Non-QM Mortgage Loan” means either (a) a Mortgage
Loan which does not have the benefit of the safe harbor from liability under the ATR Rules or a rebuttable presumption for such liability or (b) a Mortgage Loan secured by a one-to four-family residential
investor property, which in either case was underwritten and originated in accordance with underwriting guidelines reasonably acceptable to Purchaser. 

“Non-Utilization Fee” shall have the meaning assigned thereto in the MRA Pricing Side
Letter. 
 “Obligor” means a Person obligated to make payments pursuant to a Contract; provided, that in the event
that any payments in respect of a Contract are made by any other Person, such other Person shall also be deemed to be an Obligor. 

“OFAC” means the Office of Foreign Assets Control of the United States Department of Treasury. 

“OFAC Lists” has the meaning ascribed to it in Section 29(a). 

“Other Agreement” means any (i) warehouse, credit, repurchase, line of credit, financing or hedging agreements or other
similar agreement relating to any Indebtedness in an amount greater than $[***] between Seller or any of its Affiliates or Subsidiaries, on the one hand, and any Person, on the other hand, or (ii) warehouse, credit, repurchase, line of credit,
financing or hedging agreements or other agreement relating to any Indebtedness (including, without limitation, the Program Documents and the EPF Program Documents) in any amount entered into between Seller or any of its Affiliates or Subsidiaries,
on the one hand, and Purchaser or any of its Affiliates, on the other hand. 
 “OTS” means Office of Thrift Supervision or
any successor thereto. 

  
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 “Pass Through Rate” means with respect to a Security, the rate of interest
to be borne by such Security, which rate or rates shall be set forth in the related Confirmation. 
 “Parent Company” means
a corporation or other entity owning at least 50% of the membership interests of Seller. 
 “Participation Certificate”
means a Ginnie Mae Participation Certificate, a Fannie Mae Participation Certificate or a Freddie Mac Participation Certificate, as applicable. 

“Person” means any legal person, including any individual, corporation, partnership, association, joint stock company, trust,
limited liability company, unincorporated organization, governmental entity or other entity of similar nature. 
 “Pricing Side
Letter” means the Pricing Side Letter, dated as of even date herewith, between Seller and Purchaser entered into in connection with this Agreement, as amended, supplemented or otherwise modified from time to time. 

“Program Documents” means this Agreement, the Pricing Side Letter, the Custodial Agreement, the Custodial Account Control
Agreement, the Master Netting Agreement, the Participation Certificates, the MRA Program Documents, any intercreditor agreement, and all other agreements, entered into by Seller on the one hand, and Purchaser (or Custodian on its behalf) and/or
Agent or one of its Affiliates on the other, in connection herewith or therewith with respect to the transactions contemplated hereunder or thereunder and all amendments, restatements, modifications or supplements thereto. 

“Property” means any right or interest in or to property of any kind whatsoever, whether real, personal or mixed and whether
tangible or intangible. 
 “Purchase Date” means, with respect to a Participation Certificate, the date on which such
Participation Certificate is purchased by Purchaser. 
 “Purchase Price” has the meaning assigned thereto in the Pricing
Side Letter. 
 “Purchaser’s Wire Instructions” shall have the meaning assigned thereto in the Pricing Side Letter.

 “Purchaser” has the meaning set forth in the preamble hereof. 

“Related Mortgage Loan” means a Mortgage Loan in which a Participation Certificate evidences the 100% undivided beneficial
ownership interest. 
 “Related Participation Certificate” means the Participation Certificate relating to a pool of
Mortgage Loans. 
 “Relevant Governmental Body” means the Federal Reserve Board and/or the Federal Reserve Bank of New
York, or a committee officially endorsed or convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York or any successor thereto. 

  
 - 18 - 

 “Request for Release and Receipt” means the Request for Release and Receipt
set forth as Annex 5 to the Custodial Agreement. 
 “Responsible Officer” means (i) as to any Person, the chief
executive officer or, with respect to financial matters, the chief financial officer of such Person and (ii) as to Seller, Chief Executive Officer, Chief Financial Officer or Treasurer. 

“Restricted Mortgage Loan” means (i) a “Manufactured Home Loan,” “Graduated Payment Loan,”
“Buydown Loan,” “Project Loan,” “Construction Loan” or “HECM Loan,” each as defined in the applicable Agency Guide, (ii) a 30+ Day Delinquent Mortgage Loan, (iii) a Mortgage Loan for which the
related Escrow Payments have not been made by the next succeeding Due Date, or (iv) a High Cost Mortgage Loan. 

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

“Security” means a Ginnie Mae Security, a Fannie Mae Security or a Freddie Mac Security, as applicable. 

“Security Issuance Failure” means failure of the Security to be issued for any reason whatsoever by the Anticipated Delivery
Date. 
 “Security Settlement Fee” shall have the meaning assigned thereto in the Pricing Side Letter. 

“Selling System” means the Freddie Mac automated system by which sellers and servicers of mortgage loans to Freddie Mac
transfer mortgage summary and record data or mortgage accounting and servicing information from their computer system or service bureau to Freddie Mac, as more fully described in the Freddie Mac Guide. 

“Servicer Side Letter” has the meaning assigned thereto in the Master Repurchase Agreement. 

“Servicing File” means with respect to each Mortgage Loan, the file retained by Seller or its designee consisting of all
documents that are customarily retained by servicers that service mortgage loans substantially similar to such Mortgage Loan, which would include copies of the Mortgage File, all documents necessary to document and service the Mortgage Loans and any
and all documents required to be delivered in connection with any transfer of servicing pursuant to the Program Documents. 

“Servicing Records” means, with respect to a Related Mortgage Loan, the related servicing records, including but not limited
to any and all servicing agreements, files, documents, records, data bases, computer tapes, copies of computer tapes, proof of insurance coverage, insurance policies, appraisals, other closing documentation, payment history records, and any other
records relating to or evidencing the servicing of such Related Mortgage Loan. 
 “Servicing Term” shall have the meaning
assigned thereto in Section 6(a). 

  
 - 19 - 

 “Servicing Termination Events” shall have the meaning assigned thereto in
Section 6(e). 
 “Settlement Date” means the date specified in a Takeout Commitment upon which
the related Security is scheduled to be delivered to the specified Takeout Investor on a “delivery versus payment” basis. 

“SOFR” with respect to any day means the secured overnight financing rate published for such day by the Federal Reserve Bank
of New York, as the administrator of the benchmark, (or a successor administrator) on the Federal Reserve Bank of New York’s Website. 

“SOFR-Based Rate” means SOFR, Compounded SOFR or Term SOFR. 

“Strict Compliance” means compliance of Seller and the Related Mortgage Loans with the requirements of the Agency Guide as
amended by any agreements between Seller or a Takeout Investor, on the one hand, and the Applicable Agency, on the other hand, sufficient to enable Seller to issue and to service and Ginnie Mae to guarantee or Fannie Mae or Freddie Mac to issue and
guarantee a Security. 
 “Subsidiary” 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. Notwithstanding the foregoing, none of Offerpad Home
Loans, LLC, MTH Mortgage, LLC, MSC Mortgage, LLC, TRI Pointe Connect, LLC, Day One Mortgage, LLC, CUSA Affordable Housing, LLC, Commercial Agency USA, LLC, LD Escrow, Inc. or any joint venture formed by Seller after the date hereof, shall be
considered a Subsidiary for purposes of this Agreement or any other Program Document. 
 “Successor Servicer” means an
entity with the necessary Approvals, as the circumstances may require, and designated by Purchaser, in conformity with Section 6(f), to replace Seller as issuer and subservicer, mortgagee or seller/servicer of the Related
Mortgage Loans or the Securities related thereto. 
 “Takeout Commitment” means (i) a trade confirmation (which may be
delivered electronically) from the related Takeout Investor to Seller confirming the details of a forward trade between the Takeout Investor and Seller with respect to one or more Securities relating to a Participation Certificate, which trade
confirmation shall be enforceable and in full force and effect, and shall be validly and effectively assigned to BCI pursuant to a Trade Assignment, and relate to pools of Related Mortgage Loans that satisfy the “good delivery standards”
of the Securities Industry and Financial Markets Association as set forth in the Securities Industry and Financial Markets Association Uniform Practices Manual, as amended from time to time or (ii) a commitment of Seller (a) to swap one or
more identified Related Mortgage Loans with a Takeout Investor that is an Agency for a Security and (b) to sell the related Security or Takeout MBS to a Takeout Investor. 

  
 - 20 - 

 “Takeout Investor” means (x) for
non-Jumbo Mortgage Loans, any of (i) Barclays Capital, Inc., or any successor thereto, (ii) any member of the Mortgage Backed Securities Division of the Fixed Income Clearing Corporation, unless such
member is disapproved by Agent in its reasonable discretion or (iii) any other Person listed on Exhibit J to the Master Repurchase Agreement, which may be updated from time with the consent of the Agent (such consent not to be unreasonably
withheld) by delivery of an updated Exhibit J to the Master Repurchase Agreement and (y) for Jumbo Mortgage Loans, either (i) Barclays Bank PLC or (ii) any other Person listed on Exhibit J to the Master Repurchase Agreement, which may
be updated from time with the consent of the Agent (such consent not to be unreasonably withheld) by delivery of an updated Exhibit J to the Master Repurchase Agreement. 

“Termination Date” means the earliest to occur of (i) the Maturity Date, (ii) the termination of the Master
Repurchase Agreement, or (iii) at the option of Purchaser, the occurrence of a Servicing Termination Event under this Agreement after the expiration of any applicable grace period. 

“Term SOFR” means the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant
Governmental Body. 
 “Trade Assignment” means a letter substantially in the form of Exhibit B.

 “Trade Price” means the price (expressed as a percentage of the initial principal amount of the Security), as specified
in the related Takeout Commitment at which the related Takeout Investor is obligated to purchase such Security as specified in such Takeout Commitment. 

“Trade Principal” means an amount equal to the product of (a) the Trade Price and (b) the initial principal amount
of the related Security, as specified in the related Takeout Commitment. 
 “Transaction Fee” shall have the meaning
assigned thereto in the MRA Pricing Side Letter. 
 “Transaction Rate” shall have the meaning assigned thereto in the
Pricing Side Letter. 
 “Unsecured Term Loan” shall have the meaning assigned thereto in the Master Repurchase Agreement.

 “VA” means the United States Department of Veterans Affairs or any successor thereto. 

“Warehouse Lender” means any lender providing financing to Seller for the purpose of warehousing, originating or purchasing a
Mortgage Loan, which lender has a security interest in such Mortgage Loan to be purchased by Purchaser. 

  
 - 21 - 

 “Warehouse Lender’s Release” means a letter, in the form of Exhibit D,
from a Warehouse Lender to Purchaser, unconditionally releasing all of Warehouse Lender’s right, title and interest in certain Mortgage Loans identified therein upon payment to the Warehouse Lender. 

Section 2. Procedures for Purchases of Participation Certificates. 

(a) Purchaser may, in its sole discretion from time to time until the Termination Date, but shall have no obligation to, purchase one or more
Participation Certificates from Seller; provided, that the sum of (i) the Aggregate MRA Purchase Price and (ii) the Aggregate EPF Purchase Price shall not exceed, as of any date of determination, the Maximum Aggregate
Purchase Price. In connection with Purchaser’s purchase of any such Participation Certificate, Seller, on behalf of Purchaser, shall arrange for the Delivery to BCI of a Security backed by the Related Mortgage Loans, which Security shall be
subject to a Takeout Commitment. The purchase of any Participation Certificate shall be subject to the receipt by Purchaser of the items listed in Section 2(f) and (g) from Seller, in form and substance
satisfactory to Agent. In accordance with the provisions of the Electronic Tracking Agreement, the Seller shall, at its sole cost and expense, (1) cause each Related Mortgage Loan with respect to which a Participation Certificate is to be sold
to the Purchaser on a Purchase Date, the Mortgage for which is recorded in the name of MERS, to be designated a MERS Mortgage Loan and (2) cause the Purchaser to be designated an “associated member” (as defined in the Electronic
Tracking Agreement) with respect to each such MERS Mortgage Loan. Notwithstanding the satisfaction of the conditions specified in this Section 2(a) or anything else herein or in any other Program Document to the contrary,
Purchaser is not obligated to purchase any Participation Certificate offered to it hereunder. 
 (b) If Purchaser elects to purchase any
Participation Certificate, the parties shall execute a Confirmation with respect to such Participation Certificate reflecting the agreed-upon terms of the transaction, and shall pay to Seller, on the Purchase Date, the amount of the Initial Purchase
Price Installment for such Participation Certificate upon receipt of a duly executed and properly completed original Participation Certificate. Effective upon execution and delivery of such Participation Certificate to Purchaser, Seller hereby
assigns to Purchaser all of Seller’s right, title and interest in and to, and control over, such Participation Certificate and a 100% undivided beneficial interest in the Related Mortgage Loans. In the event that Purchaser does not transmit the
Initial Purchase Price Installment, (i) any Participation Certificate delivered by Custodian to Purchaser in anticipation of such purchase shall automatically be null and void and Purchaser shall promptly return it to Seller,
(ii) Purchaser will not deliver the applicable Trade Assignment to the applicable Takeout Investor (or, if already delivered, will revoke it) or consummate the transactions contemplated in the applicable Trade Assignment and (iii) to the
extent that Purchaser shall nevertheless receive the Security backed by the Related Mortgage Loans prior to the Participation Certificate becoming null and void as provided in clause (i) above, Purchaser shall take all reasonable actions
necessary to ensure that such Security shall be delivered in accordance with delivery instructions provided by Seller. 
 (c) The terms and
conditions of the purchase of each Participation Certificate shall be as set forth in this Agreement. Each Participation Certificate shall be deemed to incorporate, and Seller shall be deemed to make as of the applicable dates specified in
Section 9, for the benefit of Purchaser and each Assignee of such Participation Certificate, the representations and warranties set forth in Section 9. 

  
 - 22 - 

 (d) Purchaser shall provide a Confirmation to Seller on or before the Purchase Date or as
soon as practicable after the Purchase Date. In the event of any conflict between the terms of a Confirmation and this Agreement, the Confirmation shall prevail. 

(e) For the avoidance of any doubt, it is hereby understood and agreed that Purchaser’s purchase of the beneficial ownership interest in
and to Related Mortgage Loans, as evidenced by a Participation Certificate, shall include a beneficial ownership interest in and to all of the servicing rights relating to such Mortgage Loans. 

(f) On or prior to the Effective Date, except as otherwise specified below, Purchaser shall have received the following, in form and substance
reasonably satisfactory to Purchaser and Agent and duly executed by each party thereto (as applicable): 
 (i) Each of the
Program Documents duly executed and delivered by the parties thereto and being in full force and effect, free of any modification, breach or waiver; 

(ii) A copy of an officer’s certificate in a form reasonably satisfactory to Purchaser, together with (1) the
certificate of formation of Seller and any amendments thereto, certified by the Secretary of State of Seller’s state of formation, (2) a copy of Seller’s operating agreement, together with any amendments thereto, (3) a copy of
the duly authorized corporate resolutions, authorizing Seller to enter into this Agreement and the other Program Documents to which it is a party, and authorizing one or more of Seller’s officers to execute the documents related to this
Agreement and the other Program Documents to which it is a party; 
 (iii) No later than three (3) Business Days after
the Effective Date, an opinion of Seller’s counsel as to such matters as Purchaser or Agent may reasonably request (including, without limitation, a non-contravention, enforceability and corporate opinion
with respect to Seller; an opinion with respect to the inapplicability of the Investment Company Act to Seller), each in form and substance reasonably acceptable to Purchaser and Agent; and 

(iv) No later than ten (10) Business Days after the Effective Date, an opinion of Seller’s counsel that the relevant
provisions of this Agreement constitute a “securities contract” within the meaning of the Bankruptcy Code and that none of the transactions contemplated hereunder constitute an avoidable transfer under Section 546(f) of the Bankruptcy
Code, in form and substance reasonably acceptable to Purchaser and Agent; and 
 (v) Evidence that all other actions
necessary or, in the opinion of Agent, desirable to perfect and protect Purchaser’s interest in the Related Mortgage Loans and other Collateral have been taken, including, without limitation, duly filed Uniform Commercial Code financing
statements on Form UCC1. 

  
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 (g) In addition to those items listed in Section 2(a) and (b),
prior to each Purchase Date, the following shall have occurred: 
 (i) Seller shall have paid to Purchaser: 

(A) all accrued and unpaid fees and expenses owed to Purchaser that have been invoiced in accordance with the Program Documents
in U.S. dollars, in immediately available funds, without deduction, setoff or counterclaim; and 
 (B) the Security
Settlement Fee for the related Participation Certificate as required under Section 2 of the Pricing Side Letter in U.S. dollars, in immediately available funds, without deduction, setoff or counterclaim; provided that Purchaser may, in its sole
discretion, net any unpaid Security Settlement Fee from the proceeds of any Purchase Price paid by Purchaser to Seller. 

(ii) The fully completed, executed and authenticated Participation Certificate together with the certifications of the
Custodian provided by Section 2 of the Custodial Agreement or, with respect to a Security, such Security shall have been delivered to the Purchaser; 

(iii) A Trade Assignment (unless Purchaser is the Takeout Investor), fully completed and duly executed by Seller and the
related Takeout Investor, together with either (a) a copy of a Takeout Commitment with respect to the Security to be backed by the Related Mortgage Loans evidenced by such Participation Certificate or (b) a letter from Seller confirming
the details of such Takeout Commitment shall have been delivered to Purchaser; 
 (iv) A letter from any warehouse lender
having a security interest in the Related Mortgage Loans, substantially in the form of Exhibit D, addressed to Purchaser, releasing any and all right, title and interest in such Related Mortgage Loans shall have been delivered to Purchaser;

 (v) All representations and warranties made by Seller in this Agreement are true and correct in all material respects; and

 (vi) No Servicing Termination Event has occurred and is continuing. 

Section 3. Takeout Commitments. 

Seller hereby assigns to BCI, free of any security interest, lien, claim or encumbrance of any kind, Seller’s rights under each Takeout
Commitment to deliver the Security specified therein to the related Takeout Investor and to receive the purchase price therefor from such Takeout Investor. Subject to Purchaser’s rights hereunder, Purchaser agrees that it will cause BCI to
satisfy the obligation under the Takeout Commitment to deliver the Security to the Takeout Investor on the Settlement Date specified therein. Seller understands that, as a result of this Section 3 and each Trade Assignment,
BCI will succeed to the rights and obligations of 

  
 - 24 - 

 
Seller with respect to each Takeout Commitment subject to a Trade Assignment, and that in satisfying each such Takeout Commitment, BCI will stand in the shoes of Seller and, consequently, will be
acting as a non-dealer in exercising its rights and fulfilling its obligations assigned pursuant to this Section 3 and each Trade Assignment. Each Trade Assignment delivered by Seller
to Purchaser shall be delivered by Seller in a timely manner sufficient to enable BCI to facilitate the settlement of the related trade on the trade date in accordance with Chapter 8 of the Securities Industry and Financial Markets
Association’s Uniform Practices for the Clearance and Settlement of Mortgage Backed Securities and other Related Securities, as amended from time to time. 

Section 4. Completion Fee. 

(a) Subject to the terms of this Agreement, Purchaser shall pay to Seller the Completion Fee for each Participation Certificate that Purchaser
elects to purchase hereunder as follows: (i) the Initial Completion Fee Installment shall be paid on the date of Delivery of the related Security and (ii) the Final Completion Fee Installment shall be paid on the later to occur of the
Settlement Date of the related Security and the date of receipt by BCI of the Trade Price with respect to such related Security. 
 (b)
Except as otherwise provided in this Section 4 and in Section 5(b), and subject to Purchaser’s right of set-off set forth in
Section 12, the Completion Fee owed by Purchaser with respect to a Participation Certificate, if any, shall be paid by Purchaser to Seller in full by not later than the Settlement Date of the related Security in accordance
with the following wire instructions: 
  

			
	Wire Transfer Field	  	Description
	ABA Number	  	121000248
		
	Bank Name	  	Wells Fargo Bank, N.A.
		
	Bank Address, City, State	  	 420 Montgomery Street
 San Francisco, CA
94104
 (regardless of where the account is located)

		
	BIC (SWIFT Routing)	  	[***]
		
	Beneficiary Account Number	  	[***]
		
	Beneficiary Name	  	LD MBS
		
	Amount of Wire	  	
		
	Optional	  	Originator to Beneficiary information (any additional information that you want to note within the wire).
		
	For International Transfer Only	  	International [***]
		
	CHIPS Participant Only	  	[***]

  
 - 25 - 

 (c) Upon exercise by Purchaser of its remedies under Section 6(f),
Purchaser’s obligation to pay and Seller’s right to receive any portion of the Completion Fee relating to such Related Mortgage Loans shall automatically be canceled and become null and void; provided, that such cancellation
shall in no way relieve Seller or otherwise affect the obligation of Seller to indemnify and hold Purchaser and Agent harmless as specified in Section 13. At no time shall Seller have any beneficial interest in the
servicing rights with respect to Related Mortgage Loans while the related Participation Certificate is outstanding. 
 (d) If a Participation
Certificate is purchased by Purchaser after the first day of the month in which the Settlement Date occurs, Purchaser shall also pay to Seller on the date of Delivery to Purchaser of the Security backed by the related Mortgage Loans an amount equal
to the accrued interest on the related Security at the rate specified in the related Takeout Commitment from the first day of such month to and including the day immediately preceding the date Purchaser purchased such Participation Certificate. If a
Participation Certificate is purchased by Purchaser in the month prior to the month in which the Settlement Date occurs, the Completion Fee shall be reduced by an amount equal to all interest payments which accrue on such Participation Certificate
during the period from the date of purchase of such Participation Certificate through and including the last day of the month prior to the month in which such Settlement Date occurs. 

Section 5. Issuance of Securities.  

(a) (i) In connection with the purchase of a Participation Certificate, Seller shall instruct (and, if Seller fails to instruct, then
Agent may instruct) Custodian to deliver to the Applicable Agency, the documents listed in Annex 19-A, 19-B or
19-C of the Custodial Agreement, as applicable, in respect of the Related Mortgage Loans, in the manner and at the time set forth in the Custodial Agreement. Seller shall thereafter promptly deliver to
the Applicable Agency any and all additional documents requested by the Applicable Agency to enable the Applicable Agency to make Delivery to Purchaser of a Security backed by such Mortgage Loans on the related Anticipated Delivery Date. Seller
shall not revoke such instructions to Custodian and shall not revoke its instructions to the Applicable Agency to make Delivery to Purchaser or its designee of a Security backed by such Mortgage Loans. The Delivery to Purchaser of a Security shall
be made in accordance with the following delivery instructions: 
 Fed Book Entry Securities (MBS) 

ABA: [***] 
 Bank of NYC/BCMBS

 (ii) Seller shall notify Purchaser, not later than 12:00 noon, Eastern Time, on the second (2nd) Business Day prior to the applicable Settlement Date (a) of the amount of any change in the principal amount of the Mortgage Loans backing each such Security related to such Settlement Date
and (b) with respect to Freddie Mac Securities, the Freddie Mac mortgage loan pool number applicable to each Security to which such Settlement Date relates. Upon Delivery of such Security to BCI or its designee, Purchaser shall cease to have
any interest under such Participation Certificate and in exchange shall have a 100% ownership interest in the related Security. It is understood and agreed that for so long as Seller is subservicing Related Mortgage Loans, Seller shall retain only
record title to the Mortgages (and not an equitable interest) in all such Mortgage Loans (other than MERS Designated Mortgage Loans) for the sole purpose of subservicing such Mortgage Loans on a servicing-released basis. 

  
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 (b) If Delivery of a Security backed by the Mortgage Loans evidenced by a Participation
Certificate purchased hereunder has not occurred by 12:00 noon (Eastern Time) on the related Settlement Date as a result of a Security Issuance Failure or otherwise, then subject to the exercise by Purchaser of its rights set forth in
Section 4(c), the Completion Fee relating to such Participation Certificate shall be reduced on each day during the period from the Settlement Date to (but not including) the earlier of (x) the date of Delivery of such
Security, and (y) the date of satisfaction of the obligations of Seller pursuant to the exercise by Purchaser of any remedial election authorized by this Section 5, by an amount equal to the Daily Completion Fee
Reduction Amount. The Completion Fee (reduced by the applicable Daily Completion Fee Reduction Amounts) relating to such Participation Certificate, if any, shall not be payable until the end of the period specified in the preceding sentence. 

(c) If a breach by Seller of this Agreement results in any Related Mortgage Loan being a Defective Mortgage Loan on the Purchase Date of the
related Participation Certificate to Purchaser, Agent in its sole discretion may require that Seller, upon receipt of notice from Purchaser or Agent of its exercise of such right, to either (x) immediately repurchase Purchaser’s beneficial
ownership interest in such Defective Mortgage Loan by remitting to Purchaser the allocable amount paid by Purchaser for such beneficial interest plus accrued interest at the rate specified in the related Mortgage Note on the principal amount thereof
from the date of Purchaser’s purchase of such Participation Certificate to the date of such repurchase together with any Losses suffered by Purchaser relating to such repurchase (including, without limitation, any Losses incurred by Purchaser
resulting from adjustments to the trade required by the Takeout Investor), or (y) deliver to Custodian a Mortgage Loan eligible to back such Security in exchange for such Defective Mortgage Loan, which newly delivered Mortgage Loan shall be in
all respects acceptable to Agent in Agent’s reasonable discretion, and such newly delivered Mortgage Loan will thereupon become one of the Related Mortgage Loans relating to the Participation Certificate. If the aggregate principal balance of
any Mortgage Loans that are accepted by Purchaser pursuant to clause (y) of the immediately preceding sentence is less than the aggregate principal balance of any Defective Mortgage Loan that is being replaced by such Mortgage Loan, Seller
shall remit with such Mortgage Loan to Purchaser an amount equal to the difference between the aggregate principal balance of the new Mortgage Loan accepted by Purchaser and the aggregate principal balance of the Defective Mortgage Loan being
replaced thereby plus accrued interest on such Defective Mortgage Loan at the rate specified in the related Mortgage Note on the principal amount thereof from the Purchase Date of Purchaser’s purchase of such Participation Certificate to the
date of substitution. 
 (d) If any Related Mortgage Loan becomes thirty (30) days or more Delinquent with respect to the first
scheduled monthly payment due Purchaser after the date on which such Related Mortgage Loan was originated and prior to the Anticipated Delivery Date, Seller shall repurchase the beneficial interest in such Related Mortgage Loan as if it were a
Defective Mortgage Loan upon direction by Agent given no later than one hundred twenty (120) days after the Purchase Date. 
 (e) No
exercise by Purchaser or Agent of their respective rights under this Section 5 shall relieve Seller of responsibility or liability for any breach of this Agreement. 

  
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 Section 6. Servicing of the Mortgage Loans; Servicer Termination; Backup
Servicer. 
 (a) Upon payment of the Initial Purchase Price Installment with respect to a Participation Certificate and so long as
such Participation Certificate remains outstanding (subject to Section 4), Purchaser shall own a 100% undivided beneficial interest in the servicing rights related to the Related Mortgage Loans, including the Mortgage File
related to such Related Mortgage Loans. Seller and Purchaser each agrees and acknowledges that a 100% undivided beneficial interest in Related Mortgage Loans shall be sold to Purchaser on a servicing released basis, and that Purchaser is engaging
and hereby does engage Seller (or a subservicer designated by Seller) to provide subservicing of each Related Mortgage Loan for the benefit of Purchaser (and any other registered holder of the related Participation Certificate) for each transaction
for a term of thirty (30) days from the related Purchase Date (subject to the termination rights provided in this Agreement, including, without limitation, Section 6(f) of this Agreement), which term may be extended in
writing by Purchaser, in its sole discretion, for additional thirty (30) day periods (each, a “Servicing Term”). If such Servicing Term is not extended by Purchaser or if Purchaser has terminated Seller as a result of a
Servicing Termination Event, Seller shall transfer such servicing to Purchaser or its designee at no cost or expense to Purchaser as provided in Section 6(g) of this Agreement. Seller shall hold or cause to be held all
Escrow Payments collected with respect to the Related Mortgage Loans in segregated accounts for the sole benefit of the Mortgagors and shall apply the same for the purposes for which such funds were collected. If Seller should discover that, for any
reason whatsoever, it has failed to perform fully its servicing obligations in any material respect with respect to the Related Mortgage Loans, Seller shall promptly notify Purchaser. The parties hereto acknowledge and agree that as of the Effective
Date, Seller may delegate its obligations hereunder to subservice any or all of the Related Mortgage Loans to Cenlar FSB. 
 For so long as
a Participation Certificate is outstanding, Seller shall neither assign, encumber or pledge its right to servicing compensation hereunder or its obligation to subservice the Related Mortgage Loans in whole or in part, nor delegate its rights or
duties under this Agreement (other than to a subservicer (including, without limitation, Cenlar FSB)) without the prior written consent of Agent, the granting of which consent shall be in the sole discretion of Agent. Seller hereby acknowledges and
agrees that (i) Purchaser is entering into this Agreement in reliance upon Seller’s representations as to the adequacy of its financial standing, servicing facilities, personnel, records, procedures, reputation and integrity, and the
continuance thereof; and (ii) Seller’s engagement hereunder to provide mortgage servicing for the benefit of Purchaser (and any other registered holder of the Participation Certificate) is intended by the parties to be a “personal
service contract” and Seller is hereunder intended by the parties to be an “independent contractor”. 
 (b) (i) Seller
(or a subservicer designated by Seller (including, without limitation, Cenlar FSB)) shall subservice and administer the Related Mortgage Loans relating to a Participation Certificate on behalf of Purchaser in accordance with Accepted Servicing
Practices. Seller shall have no right to modify or alter the terms of any Related Mortgage Loan or consent to the modification or alteration of the terms of any Related Mortgage Loan except in Strict Compliance with the related Agency Program.
Seller (or a subservicer designated by Seller (including, without limitation, Cenlar FSB)) shall at all times maintain accurate and complete records of its servicing of the Related Mortgage Loans, and Agent may, at any time during

  
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Seller’s business hours on reasonable notice, examine and make copies of such Servicing Records. Seller agrees that Purchaser is the 100% beneficial owner of all Servicing Records relating
to the Related Mortgage Loans. Seller covenants to hold or cause any designated subservicer to hold such Servicing Records for the benefit of Purchaser and to safeguard such Servicing Records and to deliver them promptly to Agent or its designee
(including the Custodian) at Agent’s request or otherwise as required by operation of this Section 6.  

(ii) If Delivery of a Security is not made to Purchaser on or before the Anticipated Delivery Date, Seller (or a subservicer
designated by Seller (including, without limitation, Cenlar FSB)) shall deliver to Purchaser, upon reasonable request by Purchaser, reports regarding the status of those Related Mortgage Loans for which a Security has not yet been issued, which
reports shall include, but shall not be limited to, a description of those Related Mortgage Loans thirty (30) days or more Delinquent, and such other circumstances with respect to any Related Mortgage Loans (whether or not such Related Mortgage
Loans are included in the foregoing list) that could materially adversely affect any of such Related Mortgage Loans, Purchaser’s beneficial interest in such Related Mortgage Loans or the collateral securing any of such Related Mortgage Loans.
Seller (or a subservicer designated by Seller (including, without limitation, Cenlar FSB)) shall deliver such a report to Purchaser upon such request of Purchaser until (i) Delivery of the related Security to Purchaser or (ii) the exercise
by Purchaser of any remedial election pursuant to Section 5. In no event shall Seller delegate any of its subservicing duties hereunder (other than to Cenlar FSB) to any other Person without first obtaining the prior
written consent of Purchaser. 
 (iii) Upon the request of Purchaser or Agent from time to time, Seller shall furnish to
Purchaser and Agent reports in form and scope satisfactory to Agent, setting forth (i) data regarding the performance of the individual Related Mortgage Loans, (ii) a summary report of all Related Mortgage Loans serviced by the Seller and
originated pursuant to an Agency Guide, HUD and/or FHA guidelines (on a portfolio basis), in each case, for the immediately preceding month, including, without limitation, all collections, delinquencies, defaults, defects, claim rates, losses and
recoveries, and (iii) any other information reasonably requested by Purchaser or Agent. 
 (c) Seller, as servicer, shall establish and
maintain the “Custodial Account” with Bank entitled “loanDepot.com, LLC Custodial Account, for the benefit of Barclays Bank PLC and its assignees.” The Custodial Account shall be subject to the terms and conditions of the
Custodial Account Control Agreement. Following the occurrence and during the continuance of an Event of Default, Seller shall deposit or cause to be deposited into such account in the form received within two (2) Business Days of receipt
thereof, with any necessary endorsements, all collections received in respect of the Related Mortgage Loans relating to Participation Certificates purchased by Purchaser hereunder. 

(d) Upon the occurrence and continuance of an Event of Default, amounts deposited in the Custodial Account with respect to any Related Mortgage
Loan relating to Participation Certificates purchased by Purchaser hereunder shall be held in trust for the benefit of Purchaser and shall be released only as follows: 

  
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 (i) Except as otherwise provided in
Section 6(d)(ii), upon either (x) the Settlement Date (unless there is a Securities Issuance Failure) or (y) if earlier, on the date required by the applicable Agency Guide, amounts deposited in the Custodial
Account shall be released to Seller. Notwithstanding the foregoing, all amounts relating to Participation Certificates purchased by Purchaser hereunder and deposited in the Custodial Account shall be released to Seller upon the Settlement Date of
the related Security (unless there is a Securities Issuance Failure) only if, and to the extent that, the amounts due and payable to Purchaser hereunder have been set-off against the Purchase Price for the
Related Participation Certificate or the Completion Fee. The amounts paid to Seller (if any) pursuant to this Section 6(d)(i) shall constitute Seller’s sole compensation for subservicing the Related Mortgage Loans as
provided in this Section 6. 
 (ii) If Successor Servicer takes delivery of such Mortgage Loans
either under the circumstances set forth in Section 6(f) or otherwise, all amounts deposited in the Custodial Account shall be paid to Purchaser promptly upon such delivery. 

(iii) If a Security is not issued solely as a result of a Security Issuance Failure during the month in which the related
Settlement Date occurs, in any period thereafter during which Seller remains as subservicer, all amounts deposited in the Custodial Account shall be released only in accordance with the Agent’s written instructions. 

(e) Purchaser (or any other registered holder of the Related Participation Certificate) shall be entitled to effect termination of
Seller’s subservicing rights and obligations respecting the affected Related Mortgage Loans in the event any of the following circumstances or events (“Servicing Termination Events”) occur and are continuing: 

(i) any failure by Seller to remit to Purchaser (or other registered holder of the Participation Certificate) when due any
payment required to be made under the terms of this Agreement or such Participation Certificate and such failure is not cured within three (3) Business Days of the earlier of (x) Seller’s receipt of written notice from Purchaser of
such breach or (y) the date on which Seller obtains notice or knowledge of the facts giving rise to such breach; or 

(ii) failure by Seller duly to observe, perform or comply with any material term, condition, covenant or agreement set forth in
this Agreement or in the Custodial Agreement which continues unremedied for a period of five (5) Business Days of the earlier of (x) Seller’s receipt of written notice from Purchaser, Agent or Custodian of such breach or (y) the
date on which Seller obtains notice or knowledge of the facts giving rise to such breach; or 
 (iii) any representation or
warranty made by Seller (or any of Seller’s officers) in the Program Documents, including, but not limited to, all documents related to this Agreement, shall have been incorrect or untrue in any material respect when made or repeated or deemed
by the terms thereof to have been incorrect or untrue in any material respect when made or repeated (other than the representations or warranties in Section 9(b) and 9(c) related to the representations and warranties
in Exhibit B of the Master Repurchase Agreement); or 

  
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 (iv) an Event of Insolvency with respect to Seller or any of its Affiliates;
or 
 (v) Seller ceases to meet the qualifications to maintain all requisite Approvals, such Approvals are revoked or such
Approvals are materially modified; or 
 (vi) [Reserved]; or 

(vii) Seller fails to operate or conduct its business operations or any material portion thereof in the ordinary course; or

 (viii) Seller ceases to be a member of MERS in good standing and has not been reinstated within fifteen (15) calendar
days following receipt of notice or knowledge thereof; or 
 (ix) an Event of Default (as defined in the Other Agreement)
shall have occurred and be continuing beyond any applicable cure period under any Other Agreement to which Seller or any of its Affiliates or Subsidiaries is a party; or 

(x) [Reserved]; or 

(xi) in the event of a Security Issuance Failure, which continues unremedied for a period of two (2) Business Days; or

 (xii) a Change in Control of Seller shall have occurred that has not been approved by Agent. 

(f) Purchaser, in its sole discretion, may terminate Seller’s rights and obligations as subservicer of the affected Related Mortgage
Loans and require Seller to deliver the related Servicing Records to Purchaser or its designee upon the occurrence of (i) a Servicing Termination Event or (ii) Seller’s failure to comply with any of its obligations set forth in
Section 5(c) or (d), by delivering written notice to Seller requiring such termination. Such termination shall be effective upon Seller’s receipt of such written notice; provided, that Seller’s
subservicing rights shall be terminated immediately upon the occurrence of any event described in Section 6(e)(iv), regardless of whether notice of such event shall have been given to or by Purchaser or Seller. Upon any
such termination, all authority and power of Seller respecting its rights to subservice and duties under this Agreement relating thereto, shall pass to and be vested in the Successor Servicer appointed by Purchaser and Purchaser is hereby authorized
and empowered to transfer such rights to subservice the Related Mortgage Loans for such price and on such terms and conditions as Purchaser shall reasonably determine; provided, that to the extent the Applicable Agency proceeds to
issue a Security with respect to the Related Mortgage Loans, Purchaser shall convey the servicing rights and the rights to subservice such Related Mortgage Loans in accordance with such Applicable Agency’s instructions. Seller shall promptly
take such actions and furnish to Purchaser such documents that Purchaser deems necessary or appropriate to enable Purchaser to obtain a Security backed by such Related Mortgage Loans or 

  
 - 31 - 

 
to enforce such Related Mortgage Loans, as appropriate, and shall perform all acts and take all actions so that the Related Mortgage Loans and all files and documents relating to such Related
Mortgage Loans held by Seller, together with all escrow amounts relating to such Related Mortgage Loans, are delivered to Successor Servicer, including but not limited to preparing, executing and delivering to the Successor Servicer any and all
documents and other instruments, placing in the Successor Servicer’s possession all Servicing Records pertaining to such Related Mortgage Loans and doing or causing to be done, all at Seller’s sole expense. To the extent that the approval
of the Applicable Agency is required for any such sale or transfer, Seller shall fully cooperate with Purchaser to obtain such approval. All amounts paid by any purchaser of such rights to service or subservice the Related Mortgage Loans shall be
the property of Purchaser. The subservicing rights required to be delivered to Successor Servicer in accordance with this Section 6(f) shall be delivered free of any servicing rights in favor of Seller or any third party
(other than Purchaser) and free of any title, interest, lien, encumbrance or claim of any kind of Seller other than record title to the Mortgages relating to the Related Mortgage Loans. No exercise by Purchaser of its rights under this
Section 6(f) shall relieve Seller of responsibility or liability for any breach of this Agreement. 
 (g) With
respect to the Servicing Files and the physical and contractual servicing of each Mortgage Loan to the extent in the possession of Seller, Seller shall deliver such Servicing Files and the physical and contractual servicing to Purchaser or its
designee upon the expiration of the Servicing Term (unless such Servicing Term is renewed by Purchaser) or the termination of the Seller as subservicer pursuant to this Section 6. Seller’s transfer of the servicing
rights, Servicing Files and the physical and contractual servicing under this Section 6(g) shall be in accordance with customary standards in the industry including the transfer of the gross amount of all escrows held for
the related Mortgagors (without reduction for unreimbursed advances or “negative escrows”). 
 (h) The Agent, in its sole
discretion, may appoint a backup servicer at any time during the term of this Agreement. In such event, Seller shall commence monthly delivery to such backup servicer of the servicing information required to be delivered to Purchaser pursuant to
Section 6(b)(ii) and any other information reasonably requested by backup servicer, all in a format that is reasonably acceptable to such backup servicer. Solely in the event that such backup servicer is appointed by Agent
as a result of the occurrence and continuation of an Event of Default, Seller shall pay all costs and expenses of such backup servicer, including, but not limited to all fees of such backup servicer in connection with the processing of such
information and the maintenance of a servicing file with respect to the Related Mortgage Loans. Seller shall cooperate fully with such backup servicer in the event of a transfer of servicing hereunder and will provide such backup servicer with all
documents and information necessary for such backup servicer to assume the servicing of the Related Mortgage Loans. 
 Section 7.
Transfers of Participation Certificates and Securities by Purchaser. Purchaser may, in its sole discretion and without the consent of Seller, sell, assign or otherwise transfer all of its right, title and interest or grant a security interest
in any Participation Certificate, any Mortgage Note, Mortgage and Assignment of Mortgage related to such Participation Certificate and the related servicing rights, each Security in respect thereof of which Delivery is made to Purchaser and all
rights of Purchaser under this Agreement (including, but not limited to, the Custodial Account) in respect of such Participation Certificate, 

  
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any such Mortgage Note, Mortgage, Assignment of Mortgage and such Security, to any person (an “Assignee”), all at no cost to Seller, subject only to an obligation on the part of
the Assignee to deliver each such Security to the Takeout Investor or to Purchaser to permit Purchaser or its designee to make delivery thereof to the Takeout Investor. In the event Purchaser engages in an assignment of a Participation Certificate
and the related servicing rights as provided in this Section 7, (i) the Purchaser’s obligations under this Agreement shall remain unchanged, (ii) the Purchaser shall remain solely responsible to the other parties
hereto for the performance of such obligations, and (iii) Seller shall continue to deal solely and directly with Purchaser in connection with Purchaser’s rights and obligations under this Agreement. 

Without limitation of the foregoing, an assignment of a Participation Certificate and the related servicing rights to an Assignee, as
described in this Section 7, shall be effective upon delivery of the Participation Certificate to the Assignee or its designee, together with a duly executed Assignment substantially in the form of
Exhibit E (with a copy to Seller). 
 Section 8. Record Title to Mortgage Loans; Intent of Parties;
Security Interest. 
 (a) From and after the issuance and delivery of the Related Participation Certificate, and subject to the remedies
of Purchaser in Section 5, Seller (or its designated subservicer) as subservicer shall remain the last named payee or endorsee of each Mortgage Note related to a Related Mortgage Loan and the mortgagee or assignee of record
of each Mortgage related to a Related Mortgage Loan (except with respect to any MERS Designated Mortgage Loan) and shall retain only record title to the Mortgages (and not an equitable interest) in the Related Mortgage Loan, all for the benefit of
Purchaser for the sole purpose of facilitating the subservicing of such Related Mortgage Loan and the issuance of a Security backed by such Related Mortgage Loan. Where Seller has appointed Freddie Mac as Custodian, the parties hereto acknowledge
that the Mortgage Notes related to a Participation Certificate acquired hereunder have been deposited with Freddie Mac to facilitate the issuance of Freddie Mac Securities with respect thereto and that prior to such issuance Freddie Mac is holding
such Mortgage Notes as Custodian for Purchaser. 
 (b) Seller shall maintain a complete set of books and records for each Related Mortgage
Loan which shall be clearly marked to reflect the beneficial ownership interest in each Related Mortgage Loan of the holder of the Related Participation Certificate. Seller shall notify MERS of the beneficial ownership interest of Purchaser in each
MERS Designated Mortgage Loan through the MORNET system or any other comparable system acceptable to MERS. 
 (c) Purchaser and Seller
confirm that the transactions contemplated herein are intended to be sales of the Participation Certificates by Seller to Purchaser rather than borrowings secured by the Participation Certificates. In the event, for any reason, any transaction is
construed by any court or regulatory authority as a borrowing rather than as a sale, Seller and Purchaser intend that Purchaser or its Assignee, as the case may be, shall have a perfected first priority security interest in the Participation
Certificates, and all of Seller’s interest in all of the servicing rights with respect to the Related Mortgage Loans, the Custodial Account and all amounts on deposit therein, the Related Mortgage Loans subject to each Participation
Certificate, all documents, records (including Servicing Records), instruments and data evidencing the Related Mortgage Loans and the servicing thereof, the Securities to be issued as contemplated 

  
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hereunder, all principal and interest collected thereon and all proceeds thereof, the Takeout Commitments and the proceeds of any and all of the foregoing (collectively, the
“Collateral”), free and clear of adverse claims. In furtherance thereof, Seller hereby grants to Purchaser (as defined in the introductory paragraph of this Agreement) a first priority security interest in and lien upon the
Collateral, free and clear of adverse claims. In such event, this Agreement shall constitute a security agreement, the Custodian shall be deemed to be an independent custodian for purposes of perfection of the security interest herein granted to
Purchaser, and Purchaser or each such Assignee shall have all of the rights of a secured party under applicable law. 
 Upon request of
Purchaser, Seller shall prepare and deliver to MERS an Assignment of Mortgage from MERS to Purchaser or its designee. Upon due execution by MERS, Seller shall cause such Assignment of Mortgage to be recorded in the public land records upon request
of Purchaser. 
 Section 9. Representations and Warranties. 

(a) Seller hereby represents and warrants to Purchaser and Agent as of the date hereof and with respect to the Related Mortgage Loans as of the
date of each issuance and delivery of a Participation Certificate that: 
 (i) Seller will not be rendered insolvent by any
transaction contemplated by this Agreement and, after giving effect to each such transaction, 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, nor believes
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; 
 (ii) The consideration received by
Seller upon the sale of each Participation Certificate, taken as a whole, will constitute reasonably equivalent value and fair consideration for the beneficial ownership interest in the Mortgage Loans evidenced by that Participation Certificate;

 (iii) Seller is duly organized, validly existing and in good standing under the laws of the jurisdiction of its
organization, and it has qualified to do business in each jurisdiction in which it is legally required to do so. Seller has the power and authority under its certificate of formation, operating agreement and applicable law to enter into this
Agreement and the Custodial Agreement and to perform all acts contemplated hereby and thereby or in connection herewith and therewith; this Agreement, the Custodial Agreement, the Pricing Side Letter, the Custodial Account Control Agreement and the
transactions contemplated hereby and thereby 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; 

  
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 (iv) The consummation of the transactions contemplated by this Agreement and
the Program Documents are in the ordinary course of business of Seller and will not conflict with, result in the breach of or violate any provision of the certificate of formation or operating agreement of Seller or result in the breach of any
provision of, or conflict with or constitute a default under or result in the acceleration of any obligation under, any material agreement, indenture, loan or credit agreement or other instrument to which Seller, the Related Mortgage Loans or any of
Seller’s Property is or may be subject to, or result in the violation of any law, rule, regulation, order, judgment or decree to which Seller, the Related Mortgage Loans or Seller’s Property is or may be subject. Without limiting the
generality of the foregoing, the consummation of the transactions contemplated herein or therein will not violate any policy, regulation or guideline of the FHA or VA or result in the voiding or reduction of the FHA insurance, VA guarantee or any
other insurance or guarantee in respect of any Mortgage Loan, or otherwise render such Mortgage Loans, individually or in the aggregate, ineligible (pursuant to the applicable Agency Guide or otherwise) for inclusion in a pool of mortgages
supporting a Security, and such FHA insurance or VA guarantee is in full force and effect or shall be in full force and effect as required by the applicable Agency Guide; 

(v) No practice, procedure or policy employed by Seller in the conduct of its businesses violates any law, regulation,
judgment, agreement, regulatory consent, order or decree applicable to it which, if enforced, would result in a Material Adverse Effect; 

(vi) This Agreement, the Custodial Agreement and every other Program Document to be executed by Seller is the legal, valid,
binding and subsisting obligations of Seller, enforceable in accordance with their respective terms, except that (A) the enforceability thereof may be limited by bankruptcy, insolvency, moratorium, receivership and other similar laws relating
to creditors’ rights generally and (B) the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding therefor may
be brought; 
 (vii) No consent, license, approval or authorization from, or registration, filing or declaration with, any
regulatory body, administrative agency or other governmental instrumentality, 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 by Seller of this Agreement or any other Program Document to which it is a party, other than any that have heretofore been obtained, given or made; 

(viii) Seller has not sold, assigned, transferred, pledged or hypothecated any interest in any Participation Certificate or
Related Mortgage Loan to any person other than any sale, assignment, transfer, pledge or hypothecation that is released in conjunction with the sale to Purchaser pursuant to the Master Repurchase Agreement or hereunder, and upon delivery of a
Participation Certificate to Purchaser, Purchaser will be the sole owner thereof, free and clear of any lien, claim or encumbrance other than those arising under this Agreement; 

  
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 (ix) Neither this Agreement nor any representations and warranties or
information relating to Seller that Seller has delivered or caused to be delivered to Purchaser, including, but not limited to, all documents related to this Agreement, the Custodial Agreement or Seller’s financial statements, contains any
untrue statement of a material fact or when taken as a whole omits to state a material fact necessary to make the statements made therein or herein in light of the circumstances under which they were made, not misleading. Since the furnishing of
such documents or information, to Seller’s knowledge, there has been no change, nor any development or event involving a prospective change that would render any of such documents or information untrue or misleading in any material respect,
unless Seller delivered such other documents or information informing Purchaser or Agent of such change; 
 (x) Except as
disclosed to the Agent, no action, suit, proceeding or investigation, at law or in equity, or before or by any court, public board or body pending or, to Seller’s knowledge, threatened against or affecting Seller (or, to Seller’s
knowledge, any basis therefor) wherein an unfavorable decision, ruling or finding would adversely affect the validity or enforceability of this Agreement, the Custodial Agreement or could adversely affect Seller’s ability to carry out its
obligations hereunder; 
 (xi) Seller has all requisite Approvals; 

(xii) The Custodian is not an Affiliate of Seller; 

(xiii) The Bank is not an Affiliate of Seller; 

(xiv) The Agreement and the other Program Documents, any other document contemplated hereby or thereby and each transaction
have not been entered into fraudulently by Seller hereunder, or with the intent to hinder, delay or defraud any creditor or Purchaser; and 

(xv) [Reserved]; 

(xvi) [Reserved]; 

(xvii) [Reserved; 

(xviii) 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. 
 (xix) For so long as such Unsecured Term Loan is
outstanding, Seller is not in breach of any representation, warranty, covenant, or other provision of the Unsecured Term Loan related to the delinquency of Ginnie Mae mortgage loans. 

  
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 (b) Seller hereby represents and warrants to Purchaser and Agent with respect to each
Related Mortgage Loan, as of the Purchase Date for the Related Participation Certificate that each of the representations and warranties set forth on Exhibit B to the Master Repurchase Agreement is true and accurate. 

The representations and warranties of Seller in this Section 9 are unaffected by and supersede any provision in any
endorsement of any Related Mortgage Loan or in any assignment with respect to such Mortgage Loan to the effect that such endorsement or assignment is without recourse or without representation or warranty. 

Section 10. Covenants of Seller. Seller hereby covenants and agrees with Purchaser and Agent as of the date hereof and for so long
as any Participation Certificate remains outstanding as follows: 
 (a) Seller shall keep or cause to be kept in reasonable detail books and
records setting forth an account of its assets and business and, as applicable, shall clearly reflect therein the transfer of Seller’s beneficial right, title and interest in and to the Related Mortgage Loans. 

(b) Seller shall deliver to Purchaser and Agent: 

(i) Within ninety (90) days after the end of each fiscal year of Seller, the consolidated audited balance sheets of Seller
and its consolidated Subsidiaries, which will be in conformity with GAAP, and the related consolidated audited statements of income and changes in equity showing the financial condition of Seller and its consolidated Subsidiaries as of the close of
such fiscal year and the results of operations during such year, and consolidated audited statements of cash flows, as of the close of such fiscal year, setting forth, in each case, in comparative form the corresponding figures for the preceding
year. The foregoing consolidated financial statements are to be reported on by, and to carry the unqualified report (in a form substantially similar to the form of financial statements attached to the Master Repurchase Agreement as Exhibit J,
or in a form otherwise acceptable to Purchaser and Agent) of, an independent public accountant of national standing acceptable to Purchaser and Agent, which shall include KPMG LLP, PricewaterhouseCoopers LLP, Deloitte LLP, BDO USA, LLP,
Ernst & Young, and any other similarly situated independent public account; 
 (ii) Within forty-five (45) days
after the end of each of the first three fiscal quarters of each fiscal year of Seller, consolidated unaudited balance sheets and consolidated statements of income and changes in equity, (in a form substantially similar to the form of financial
statements attached to the Master Repurchase Agreement as Exhibit K, or in a form otherwise acceptable to Purchaser and Agent), showing the financial condition and results of operations of Seller and its consolidated Subsidiaries, each
on a consolidated basis as of the end of each such quarter and for the then elapsed portion of the fiscal year, setting forth, in each case, in comparative form the corresponding figures for the corresponding periods of the preceding fiscal year,
certified by a financial officer of Seller who is qualified to make such certification as presenting fairly the financial position and results of operations of Seller and its consolidated Subsidiaries and as having been prepared in accordance with
GAAP consistently applied, in each case, subject to normal year-end audit adjustments; 

  
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 (iii) As soon as is practicable, but in any event within thirty
(30) days after the end of each of the first two months of a fiscal quarter, consolidated unaudited balance sheets and consolidated statements of income and changes in equity (in a form substantially similar to the form of financial statements
attached to the Master Repurchase Agreement as Exhibit K, or in a form otherwise acceptable to Purchaser and Agent) showing the financial condition and results of operations of Seller and its consolidated Subsidiaries on a consolidated basis
as of the end of each such month and for the then elapsed portion of the fiscal year, setting forth, in each case, in comparative form the corresponding figures for the corresponding month of the preceding fiscal year, certified by a financial
officer of Seller who is qualified to make such certification as presenting fairly the financial position and results of operations of Seller and its consolidated Subsidiaries and as having been prepared in accordance with GAAP consistently applied,
in each case, subject to normal year-end audit adjustments;  

(iv) [Reserved]; 

(v) Promptly upon any Responsible Officer becoming aware of the commencement of, or any determination in, any material dispute,
litigation, investigation, proceeding, sanctions or suspension between Seller, on the one hand, and any Governmental Authority or any other Person, on the other (other than any investigation or proceeding conducted in the ordinary course of business
by a state licensing authority) that is reasonably likely to have a Material Adverse Effect; 
 (vi) Promptly upon becoming
available, copies of all financial statements, reports, notices and proxy statements sent by its Parent Company, Seller or any of Seller’s consolidated Subsidiaries in a general mailing to their respective stockholders and of all reports and
other material (including copies of all registration statements under the Securities Act of 1933, as amended) filed by any of them with any securities exchange or with the SEC or any governmental authority succeeding to any or all of the functions
of the SEC; 
 (vii) [Reserved]; 

(viii) Such supplements to the aforementioned documents and such other information regarding the operations, business, affairs
and financial condition of its Parent Company, Seller or any of Seller’s consolidated Subsidiaries as Purchaser or Agent may reasonably request; 

(ix) [Reserved]; 

(x) [Reserved]; 

(xi) To the extent not otherwise prohibited from disclosing, promptly upon a Responsible Officer becoming aware thereof, any
penalties, sanctions or charges levied, or reasonably threatened in writing to be levied, against Seller or any change, or 

  
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change threatened in writing, in Approval status against Seller by any Applicable Agency, or any supervisory or regulatory Governmental Authority (including, but not limited to HUD, FHA and VA)
supervising or regulating the origination or servicing of mortgage loans by, or the issuer status of, Seller (which, in the event of a Governmental Authority, could reasonably be expected to have a Material Adverse Effect). 

Seller’s obligation to deliver any report or other document under this Section 10(b) shall be
deemed to have been satisfied if, and as of the date, such report or other document is filed with the SEC pursuant to the SEC’s Electronic Data Gathering & Analysis Recovery system. 

(c) Neither Seller nor any Affiliate thereof will acquire at any time any Participation Certificate or any other economic interest in or
obligation with respect to any Related Mortgage Loan except for the subservicing rights relating thereto and record title to the Mortgage relating to any Related Mortgage Loan. 

(d) Seller shall take all commercially reasonable actions necessary or, in the reasonable opinion of Purchaser, desirable, to preserve the
Related Mortgage Loans and other Collateral so that they remain subject to a first priority perfected security interest hereunder and deliver evidence that such actions have been taken, including, without limitation, duly completed and filed Uniform
Commercial Code financing statements on Form UCC1. 
 (e) Seller will not be rendered insolvent by, any sale of a Participation Certificate
to Purchaser. 
 (f) Seller will not sell any Participation Certificate to Purchaser with any intent to hinder, delay or defraud any of
Seller’s creditors. 
 (g) Seller shall take all reasonably necessary actions to maintain its Approvals at all times during the term of
this Agreement. If, for any reason, Seller ceases to maintain any such Approval, Seller shall so notify Purchaser and Agent within two (2) Business Days. 

(h) Seller shall (i) maintain all licenses, permits or other approvals necessary for Seller to conduct its business and to perform its
obligations under the Program Documents, (ii) remain in good standing to the extent required under, and comply in all material respects with, all laws of each state in which it conducts business or any Mortgaged Property is located, and
(iii) conduct its business strictly in accordance with applicable law. 
 (i) Seller shall, upon request of Purchaser or Agent, promptly
execute and deliver to Purchaser all such other and further documents and instruments of transfer, conveyance and assignment, and shall take such other action as Purchaser or Agent may require to more effectively transfer, convey, assign to and vest
in Purchaser and to put Purchaser in possession of the property to be transferred, conveyed, assigned and delivered hereunder and otherwise to carry out more effectively the intent of the provisions under this Agreement. 

  
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 (j) The Seller is a member of MERS in good standing and current in the payment of all fees
and assessments imposed by MERS, and has complied with all rules and procedures of MERS. In connection with the assignment of any Related Mortgage Loan registered on the MERS System, the Seller agrees that it will, at the Seller’s own cost and
expense, promptly cause the MERS System to indicate that such Mortgage Loan has been transferred to the Purchaser in accordance with the terms of the Master Repurchase Agreement by including in MERS’ computer files (a) the code in the
field which identifies the specific owner of the Mortgage Loans and (b) the code in the field “Pool Field” which identifies the series in which such Mortgage Loans were sold. The Seller further agrees that it will not alter codes
referenced in this paragraph with respect to any Mortgage Loan at any time that such Mortgage Loan is subject to the Master Repurchase Agreement, and the Seller shall retain its membership in MERS at all times during the term of this Agreement. For
eMortgage Loans, Seller shall comply in all material respects with all rules and procedures in connection with the maintenance of the related eNotes on the MERS eRegistry for so long as such Related Mortgage Loans are so registered. 

(k) Seller will permit Purchaser, Agent or their respective agents or designees to perform due diligence reviews on the Related Mortgage Loans
subject to each Participation Certificate purchased hereunder up to the Due Diligence Review Amount within the thirty (30) days following the related Purchase Date. Seller shall cooperate in all respects with such diligence and shall provide
Purchaser, Agent or their respective agents or designees who are bound by confidentiality requirements with all loan files and other information (including, without limitation, Seller’s quality control procedures and results) reasonably
requested by Purchaser, Agent or their respective agents or designees and shall bear all costs and expenses associated with such due diligence. 

(l) Except as permitted herein or in the Master Repurchase Agreement, Seller shall not 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 Documents) any of the Related Mortgage Loans or any interest therein, provided that this
Section 10(l) shall not prevent any of the following: any contribution, sale, assignment, transfer or conveyance of Related Mortgage Loans in accordance with the Program Documents and any forward purchase commitment or
other type of take out commitment for the Related Mortgage Loans (without vesting rights in the related purchasers as against Purchaser). 

(m) Seller shall comply with the financial covenants set forth in Section 15(g)(ii) of the Master Repurchase
Agreement and Section 4 of the Pricing Side Letter. 
 (n) Seller shall (i) at all times maintain copies of
relevant portions of all final written Applicable Agency audits, examinations, evaluations, monitoring reviews and reports of its origination and servicing operations (including those prepared on a contract basis for any such agency) in which there
are material adverse findings, 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, and all necessary approvals from each Applicable Agency. Seller shall (x) disclose to Agent any portion of such information that is not confidential, (y) notify Agent of any material event in
a level of specificity that would not violate the confidentiality requirements and (z) promptly seek permission to disclose the information from the necessary parties and shall provide Agent such information to the extent of such permission.

  
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 (o) [Reserved]. 

(p) Seller shall timely pay to Purchaser all reasonable fees and documented out of pocket expenses required to be paid by Seller hereunder and
under any other Program Document to Purchaser in immediately available funds, and without deduction, set-off or counterclaim in accordance with Purchaser’s Wire Instructions. 

Section 11. Term. This Agreement shall continue in effect until terminated as to future transactions on the Termination Date;
provided, that no termination will affect the obligations hereunder as to any of the Participation Certificates then outstanding hereunder or any Security not yet delivered to the related Takeout Investor. Seller’s obligations to
indemnify Purchaser and Agent pursuant to this Agreement and the other Program Documents shall survive the termination hereof. 

Section 12. Set-Off. In addition to any rights and remedies of Purchaser hereunder and at
law, upon the occurrence and continuation of a default hereunder or under any of the Program Documents, Purchaser and its Affiliates shall have the right, without prior notice to Seller, any such notice being expressly waived by Seller to the extent
permitted by applicable law, upon any amount becoming due and payable (whether at the stated maturity, by acceleration or otherwise) by Seller hereunder, under the Mortgage Loan Participation Purchase and Sale Agreement or under any other warehouse,
repurchase, or mortgage servicing rights facility or related trade line entered into between Seller, on the one hand, and Purchaser or any of its Affiliates, on the other hand, to set-off and appropriate and
apply against such amount any and all Property and deposits (general or special, time or demand, provisional or final), in any currency, or any other credits, indebtedness or claims, in any currency, or any other collateral (in the case of
collateral not in the form of cash or such other marketable or negotiable form, by selling such collateral in a recognized market therefor or as otherwise permitted by law or as may be in accordance with custom, usage or trade practice), in each
case, whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by Purchaser or any Affiliate thereof to or for the credit or the account of Seller except and to the extent that any of the same are held by
Seller for the account of another Person. Upon the occurrence of a default hereunder or under any of the Program Documents, Purchaser may also set-off cash and all other sums or obligations owed by Purchaser
or its Affiliates to Seller or its Affiliates (whether under this Agreement, under the Mortgage Loan Participation Purchase and Sale Agreement or under any other warehouse, repurchase, or mortgage servicing rights facility or related trade line
entered into between Seller, on the one hand, and Purchaser or any of its Affiliates, on the other hand) against all of Seller’s obligations to Purchaser or its Affiliates (whether under this Agreement, under the Mortgage Loan Participation
Purchase and Sale Agreement or under any other warehouse, repurchase, or mortgage servicing rights facility or related trade line entered into between Seller, on the one hand, and Purchaser or any of its Affiliates, on the other hand), whether or
not such obligations are then due. The exercise of any such right of set-off shall be without prejudice to Purchaser’s or its Affiliate’s right to recover any deficiency. Purchaser agrees to promptly
notify Seller after any such set-off and application made by Purchaser; provided that the failure to give such notice shall not affect the validity of such
set-off and application. 

  
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 Section 13. Indemnification. Seller shall indemnify and hold Purchaser and Agent
harmless against any and all Losses (including, without limitation, Losses incurred by Purchaser on account of fees paid by Purchaser to the Applicable Agency to cause the Securities to be issued or any Losses in connection with any indemnification
by Purchaser of the Applicable Agency) resulting from, relating to or otherwise arising in connection with the breach by Seller of any representation, warranty or covenant in this Agreement (including, without limitation, any failure to perform
servicing obligations). Without prejudice to the survival of any other agreement of Seller hereunder, the covenants and obligations of Seller contained in this Section 13 shall survive the termination of this Agreement.

 Section 14. Exclusive Benefit of Parties; Assignment. This Agreement is for the exclusive benefit of the parties hereto and
their respective successors and assigns and shall not be deemed to give any legal or equitable right to any other person, including any Takeout Investor or the Custodian. In addition to the rights of Purchaser as provided in
Section 7, subject to the consent of the Seller (such consent not to be unreasonably withheld) and at no cost or expense to the Seller, each of Purchaser and Agent may, in its sole election, assign or participate all or a
portion of its rights and obligations under this Agreement and the Program Documents with a counterparty of Purchaser’s or Agent’s choice. Purchaser or Agent shall notify Seller of any such assignment and participation and shall maintain,
for review by Seller upon written request, a register of assignees and participants and a copy of any executed assignment and acceptance by Purchaser or Agent and assignee (“Assignment and Acceptance”), specifying the percentage or
portion of such rights and obligations assigned. The Seller agrees that, for any such permitted assignment, Seller will cooperate with the prompt execution and delivery of documents reasonably necessary for such assignment process to the extent that
Seller incurs no cost or expense that is not paid by the Purchaser or Agent, as applicable. Upon such assignment, (a) such assignee shall be a party hereto and to each Program Document 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 Purchaser or Agent hereunder, and (b) Purchaser or Agent shall, to the extent that such rights and obligations have been so assigned by it to either
(i) an Affiliate of Purchaser or Agent which assumes the obligations of Purchaser or Agent hereunder or (ii) to another Person which assumes the obligations of Purchaser or Agent hereunder, be released from their obligations hereunder
accruing thereafter and under the Program Documents. 
 Purchaser and Agent may distribute to any prospective assignee, participant or
pledgee any document or other information delivered to Purchaser by Seller subject to the confidentiality restrictions contained in Section 27 hereof; accordingly, such prospective assignee, participant or pledgee shall be
required to agree to confidentiality provisions similar to those set forth in Section 27. 
 The Program Documents
and the Seller’s rights and obligations thereunder are not assignable by Seller without the prior written consent of Purchaser and Agent. Any Person into which Seller may be merged or consolidated, or any corporation resulting from any merger,
conversion or consolidation to which Seller shall be a party, or any Person succeeding to the business of Seller, shall be the successor of Seller hereunder, without the execution or filing of any paper or any further act on the part of any of the
parties hereto, anything herein to the contrary notwithstanding. 

  
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 Section 15. Amendments; Waivers; Cumulative Rights. No amendment or waiver of
any provision of this Agreement nor any consent to any failure to comply herewith or therewith shall in any event be effective unless the same shall be in writing and signed by Seller, Purchaser and Agent, and then such amendment, waiver or consent
shall be effective only in the specific instance and for the specific purpose for which given. 
 Section 16. Execution in
Counterparts. This Agreement may be executed in any number of counterparts, all of which shall constitute one and the same instrument, and any party hereto may execute this Agreement by signing and delivering one or more counterparts. The
parties intend that faxed signatures and electronically imaged signatures such as .pdf files shall constitute original signatures and are binding on all parties. The original documents shall be promptly delivered, if requested. The parties agree
that this Agreement, any addendum, exhibit or amendment hereto or any other document necessary for the consummation of the transactions contemplated by this Agreement may be accepted, executed or agreed to through the use of an electronic signature
in accordance with E-Sign, UETA and any applicable state law. Any document accepted, executed or agreed to in conformity with such laws will be binding on all parties hereto to the same extent as if it were
physically executed and each party hereby consents to the use of any secure third party electronic signature capture service with appropriate document access tracking, electronic signature tracking and document retention as may be reasonably chosen
by a signatory hereto, including but not limited to DocuSign. 
 Section 17. Effect of Invalidity of Provisions. In case any one
or more of the provisions contained in this Agreement should be or become invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein or therein shall in no way be
affected, prejudiced or disturbed thereby. 
 Section 18. Governing Law; Waiver of Jury Trial; Consent to Jurisdiction and
Venue; Service of Process. This Agreement shall be binding and inure to the benefit of the parties hereto and their respective successors and assigns. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY, THE LAWS OF THE
STATE OF NEW YORK, WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PRINCIPLES THEREOF (EXCEPT FOR SECTION 5-1401 AND SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS
LAW). 
 EACH OF SELLER, PURCHASER AND AGENT HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL
RIGHTS TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE PROGRAM DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH OF SELLER, PURCHASER AND AGENT HEREBY IRREVOCABLY AND
UNCONDITIONALLY CONSENTS, ON BEHALF OF ITSELF AND ITS PROPERTY, TO THE NON-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, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THE PROGRAM DOCUMENTS IN ANY ACTION OR PROCEEDING. EACH OF SELLER, PURCHASER AND AGENT HEREBY SUBMITS TO, AND WAIVES ANY OBJECTION IT MAY HAVE TO,
NON-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

  
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OUT OF OR RELATING TO THE PROGRAM DOCUMENTS. EACH OF SELLER, PURCHASER AND AGENT HEREBY IRREVOCABLY CONSENTS TO THE SERVICE OF A SUMMONS AND COMPLAINT AND OTHER PROCESS IN ANY ACTION, CLAIM OR
PROCEEDING BROUGHT BY ANOTHER PARTY IN CONNECTION WITH THIS AGREEMENT OR THE OTHER PROGRAM DOCUMENTS, ANY RIGHTS OR OBLIGATIONS HEREUNDER OR THEREUNDER, OR THE PERFORMANCE OF SUCH RIGHTS AND OBLIGATIONS, ON BEHALF OF ITSELF OR ITS PROPERTY, IN THE
MANNER SPECIFIED IN THIS SECTION 31 AND TO SUCH PARTY’S REGISTERED AGENT OR SUCH OTHER ADDRESS AS SUCH PARTY SHALL HAVE PROVIDED IN WRITING TO THE OTHER PARTIES HERETO. NOTHING IN THIS SECTION 31 SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO
(I) SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW, OR (II) BRING ANY ACTION OR PROCEEDING AGAINST ANY OTHER PARTY OR ITS PROPERTIES IN THE COURTS OF ANY OTHER JURISDICTIONS. 

Section 19. Notices. Any notices, consents, elections, directions and other communications given under this Agreement shall be in
writing and shall be deemed to have been duly given when telecopied or delivered by overnight courier to, personally delivered to, or on the third day following the placing thereof in the mail, first class postage prepaid to, the parties hereto at
the related address set forth in Annex A or to such other address as either party shall give notice to the other party pursuant to this Section. Notices to any Assignee shall be given to such address as the Assignee shall provide to Seller in
writing. 
 Section 20. Entire Agreement. This Agreement, the Participation Certificates, the Custodial Agreement and the other
Program Documents contain the entire agreement between the parties hereto with respect to the subject matter hereof, and supersede all prior and contemporaneous agreements between them, oral or written, of any nature whatsoever with respect to the
subject matter hereof. 
 Section 21. Costs of Enforcement. (a) In addition to any other indemnity specified in this Agreement,
Seller agrees to pay as and when billed by Purchaser or Agent all of the reasonable out-of-pocket costs and expenses incurred by Purchaser and Agent in connection with
the development, preparation, and execution of, and any amendment, supplement or modification to, and enforcement of this Agreement, any other related document or any other documents prepared in connection herewith or therewith. 

(b) If Seller fails to pay when due any costs, expenses or other amounts payable by it under this Agreement, including, without limitation,
reasonable fees and expenses of counsel and indemnities, such amount may be paid on behalf of Seller by Purchaser or Agent, in its sole discretion and Seller shall remain liable for any such payments by Purchaser or Agent, as applicable. No such
payment by Purchaser or Agent shall be deemed a waiver of any of Purchaser’s or Agent’s respective rights under this Agreement. 

(c) In addition to any other indemnity specified in this Agreement, in the event of a breach by Seller of this Agreement, the Custodial
Agreement, a Participation Certificate or a Takeout Commitment, Seller agrees to pay the reasonable attorneys’ fees and expenses of Purchaser, Agent and/or any Assignee incurred as a consequence of such breach. 

  
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 Section 22. Securities Contract; Netting Agreement. 

(a) Seller, Purchaser and Agent recognize that each sale of a Participation Certificate (including the related servicing rights) under this
Agreement is a “securities contract” and a “master netting agreement” as those terms are defined in Section 741 and Section 101(38A)(A) of the Bankruptcy Code, respectively, and a “qualified financial
contract” as that term is defined in the FDIA. Seller and Purchaser further recognize that the beneficial interest in the Related Mortgage Loans evidenced by a Participation Certificate shall constitute an “interest in a mortgage
loan” as that term is used in Section and 741(7)(A)(i) of Bankruptcy Code. 
 (b) It is understood that the Purchaser shall have
the right to liquidate, terminate and accelerate, or exercise any other remedies permitted upon the occurrence of any Servicing Termination Event, and that such liquidation, termination and acceleration rights constitute contractual rights to
liquidate, terminate and accelerate the transactions under a “securities contract” and a “master netting agreement” as described in Section 555 and Section 561 of the Bankruptcy Code, respectively, and a
“qualified financial contract” as described Section 1821(e)(8)(A)(i) of the FDIA. 
 (c) The parties hereto agree and
acknowledge that if a party hereto is an “insured depository institution,” as such term is defined in 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). 

(d) It is understood that 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 hereunder shall constitute a “covered contractual payment entitlement” or “covered contractual
payment obligation,” respectively, as defined in and subject to FDICIA. 
 Section 23. Consent to Service. Each party
irrevocably consents to the service of process by registered or certified mail, postage prepaid, to it at its address provided pursuant to Section 19. 

Section 24. Construction. The headings in this Agreement are for convenience only and are not intended to influence its
construction. References to Sections, Exhibits and Annexes in this Agreement are to the Sections of and Exhibits and Annexes to this Agreement. The Exhibits and Annexes are part of this Agreement. In this Agreement, the singular includes the plural,
the plural the singular, and the words “and” and “or” are used in the conjunctive or disjunctive as the sense and circumstances may require. 

Section 25. Further Assurances. Seller, Purchaser and Agent each agree to execute and deliver to the other such reasonable and
appropriate additional documents, instruments or agreements as may be necessary or appropriate to effectuate the purposes of this Agreement. 

  
 - 45 - 

 Section 26. Due Diligence. Purchaser, Agent or any of their respective agents,
representatives or permitted assigns shall have the right, upon reasonable prior notice and during normal business hours, subject to Section 10(k), no more than one time during any 12-month period (unless
a Servicer Termination Event has occurred and is continuing, in which case the foregoing limitation of one examination during any 12-month period shall not be applicable), to conduct on-site inspection and perform continuing on-site due diligence reviews of (x) Seller, including, without limitation, for the purpose of verifying compliance with the
representations, warranties and covenants made under the Program Documents, (y) the Servicing File and (z) the Related Mortgage Loans. Seller agrees promptly to provide Purchaser, Agent and their respective agents with access to, copies of
and extracts from any and all documents, records, agreements, instruments or information (including, without limitation, any of the foregoing in computer data banks and computer software systems) relating to Seller’s respective business,
operations, servicing, financial condition, performance of their obligations under the Program Documents, the documents contained in the Servicing Files or the Related Mortgage Loans or assets proposed to be sold hereunder in the possession, or
under the control, of Seller. In addition, Seller shall also make available to Purchaser and/or Agent, upon reasonable prior notice and during normal business hours no more than one time during any 12-month
period (unless a Servicer Termination Event has occurred and is continuing, in which case the foregoing limitation of one examination during any 12-month period shall not be applicable), a knowledgeable
financial or accounting officer of Seller for the purpose of answering questions respecting the Related Mortgage Loans. Without limiting the generality of the foregoing, Seller acknowledges that Purchaser shall enter into transactions with Seller
based solely upon the information provided by Seller to Purchaser and/or Agent and the representations, warranties and covenants contained herein, and that Purchaser and/or Agent, at its option, shall have the right at any time to conduct itself or
through its agents, or require Seller to conduct quality reviews and underwriting compliance reviews of the individual Related Mortgage Loans at the expense of Seller. Any such diligence conducted by Purchaser and/or Agent shall not reduce or limit
the Seller’s representations, warranties and covenants set forth herein. Seller agrees to reimburse Purchaser and/or Agent for all reasonable out-of-pocket due
diligence costs and expenses incurred with one examination during any 12-month period (or in connection with any additional examinations conducted following the occurrence and continuation of Servicer
Termination Event) shall not be applicable) pursuant to this Section 26. 
 Section 27. Confidentiality. Seller, Purchaser
and Agent each hereby acknowledge and agree that all written or computer-readable information provided by one party to the other in connection with the Program Documents or the transactions contemplated thereby, including without limitation,
Seller’s Mortgagor information in the possession of Purchaser (the “Confidential Terms”) shall be kept confidential and shall not be divulged to any party without the prior written consent of such other party except for
(i) disclosure to Seller’s direct and indirect parent companies, directors, attorneys, auditors, taxing authorities, equity holders, representatives, investors, lenders, officers, employees, agents or accountants, provided that such
parties likewise agree to be bound by this covenant of confidentiality, or are otherwise subject to confidentiality restrictions, (ii) with prior (if feasible) written notice to Purchaser, disclosure required by law, rule, regulation or order
of a court or other regulatory body, (iii) with prior (if feasible) written notice to Purchaser, (iv) any disclosures or filing required under SEC or state securities’ laws; provided that in the case of clause (iv), Seller shall not
file the Pricing Side Letter. Notwithstanding any provision herein to the contrary, Seller may provide copies of the Program Documents (other than the Pricing Side Letter) and relevant excerpts (but not specific pricing information) from the Pricing
Side Letter to the Seller’s other Creditors (to the extent required by such other Creditors). Notwithstanding anything herein to the contrary, except as 

  
 - 46 - 

 
reasonably necessary to comply with applicable securities laws, each party (and each employee, representative, or other agent of each party) may disclose to any and all persons, without
limitation of any kind, the tax treatment and tax structure of the transaction and all materials of any kind (including opinions or other tax analyses) that are provided to it relating to such tax treatment and tax structure. For this purpose, tax
treatment and tax structure shall not include (i) the identity of any existing or future party (or any Affiliate of such party) to this Agreement or (ii) any specific pricing information or other commercial terms, including the amount of
any fees, expenses, rates or payments arising in connection with the transactions contemplated by this Agreement. 
 Purchaser and Agent
each agree that it will not purchase, sell or trade any class of security of the Seller on the basis of any material nonpublic information that is included in the Confidential Terms in violation of U.S. securities laws. 

Notwithstanding anything in this Agreement to the contrary, Seller, Purchaser and Agent shall comply with all applicable local, state and
federal laws, including, without limitation, all privacy and data protection law, rules and regulations that are applicable to the Related Mortgage Loans, the Participation Certificates and any applicable terms of this Agreement, including
information relating to any Mortgage Loan that is not related to a Participation Certificate purchased hereunder and information relating to any other Mortgage Loans of Seller that is delivered to Purchaser or Agent by another lender under an
intercreditor agreement or other agreement (the “Confidential Information”). Seller, Purchaser and Agent understand that the Confidential Information may contain “nonpublic personal information”, as that term is defined in
Section 509(4) of the Gramm-Leach-Bliley Act (the “GLB Act”), and each agrees to maintain such nonpublic personal information that it receives hereunder in accordance with the GLB Act and other applicable federal and state
privacy laws. Seller, Purchaser and Agent shall each implement such physical and other security measures as shall be necessary to (a) ensure the security and confidentiality of the “nonpublic personal information” of the
“customers” and “consumers” (as those terms are defined in the GLB Act) of the Mortgagors, (b) protect against any threats or hazards to the security and integrity of such nonpublic personal information, and (c) protect
against any unauthorized access to or use of such nonpublic personal information. Seller, Purchaser and Agent shall notify the other party immediately following discovery of any breach or compromise of the security, confidentiality, or integrity of
the nonpublic personal information of any Mortgagor by providing notice directly to the other party. 
 Section 28. Contractual
Recognition of Bail-In. 
 Seller acknowledges and agrees that notwithstanding any other term of this Agreement
or any other agreement, arrangement or understanding with us, any of our liabilities, as the Bank of England (or any successor resolution authority) may determine, arising under or in connection with this Agreement may be subject to Bail-In Action and Seller accepts to be bound by the effect of: 
 (a) any
Bail-In Action in relation to such liability, including (without limitation): 

  
 - 47 - 

 (i) a reduction, in full or in part, of any amount due in respect of any such liability;

 (ii) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or
conferred on, Seller; and 
 (iii) a cancellation of any such liability; and 

(b) a variation of any term of this Agreement to the extent necessary to give effect to Bail-In Action
in relation to any such liability. 
 Section 29. USA Patriot Act; OFAC and Anti-Terrorism. 

Each of Purchaser and Agent hereby notifies the Seller that pursuant to the requirements of the USA PATRIOT Improvement and Reauthorization
Act, Title III of Pub. L. 109-177 (signed into law March 9, 2009) (the “Act”), it is required to obtain, verify, and record information that identifies Seller, which information includes
the name and address of Seller and other information that will allow Purchaser and Agent, as applicable, to identify the Seller in accordance with the Act. Accordingly, the Seller hereby represents and warrants to Purchaser and Agent, and shall on
and as of the Purchase Date for any Transaction and on and as of each date thereafter through and including the related Settlement Date be deemed to represent and warrant to Purchaser and Agent that: 

(a) (i) Neither the Seller nor the Parent Company nor, to the Seller’s actual knowledge, any director, officer, or
employee of the Seller or any of its subsidiaries, or any originator of Collateral, is named on the list of Specifically Designated Nationals maintained by OFAC or any similar list issued by OFAC (collectively, the “OFAC Lists”) or
is located, organized, or resident in a country or territory that is, or whose government is, the target of sanctions imposed by OFAC; and (ii) no Person on the OFAC Lists owns, directly or indirectly, or otherwise controls, the Seller or the
Parent Company. 
 (b) (i) Seller will not knowingly conduct business with or engage in any transaction with any Obligor
that the Seller or any originator of Collateral knows, after reasonable due diligence, that, (x) is named on any of the OFAC Lists or is located, organized, or resident in a country or territory that is, or whose government currently is, the
target of countrywide sanctions imposed by OFAC; (y) is owned, directly or indirectly, or otherwise controlled, by a Person named on any OFAC List; (ii) if the Seller obtains actual knowledge, after reasonable due diligence, that any
Obligor is named on any of the OFAC Lists or that any Person named on an OFAC List owns, directly or indirectly, or otherwise controls the Obligor or the Seller, as applicable, Seller will give prompt written notice to Purchaser and Agent of such
fact or facts; and (iii) the Seller will (x) comply at all times with the requirements of the Economic and Trade Sanctions and Anti-Terrorism Laws applicable to any transactions, dealings or other actions relating to this Agreement, except
to the extent such non-compliance does not result in a violation of applicable law by any of Purchaser or Agent and (y) will, upon Purchaser’s or Agent’s reasonable request from time to time
during the term of this Agreement, deliver a certification confirming its compliance with the covenants set forth in this Section 29. 

  
 - 48 - 

 Section 30. Contractual Recognition of UK Stay In Resolution. 

(a) Where a resolution measure is taken in relation to any BRRD undertaking or any member of the same group as that BRRD undertaking and that
BRRD undertaking or any member of the same group as that BRRD undertaking is a party to this Agreement (any such party to this Agreement being an “Affected Party”), each other party to this Agreement agrees that it shall only be
entitled to exercise any termination right under this Agreement against the Affected Party to the extent that it would be entitled to do so under the Special Resolution Regime if this Agreement were governed by the laws of any part of the United
Kingdom. 
 (b) For the purpose of this Section 30 “resolution measure” means a ‘crisis prevention
measure’, ‘crisis management measure’ or ‘recognised third-country resolution action’, each with the meaning given in the “PRA Rulebook: CRR Firms and Non-Authorised Persons: Stay
in Resolution Instrument 2015”, as may be amended from time to time (the “PRA Contractual Stay Rules”), provided, however, that ‘crisis prevention measure’ shall be interpreted in the manner outlined in Rule 2.3 of
the PRA Contractual Stay Rules ; “BRRD undertaking”, “group”, “Special Resolution Regime” and “termination right” have the respective meanings given in the PRA Contractual Stay Rules. 

Section 31. Notice Regarding Client Money Rules. 

(a) The Purchaser, as a CRD credit institution (as such term is defined in the rules of the FCA), holds all money received and held by it
hereunder as banker and not as trustee. Accordingly, money that is received and held by Purchaser from Seller will not be held in accordance with the provisions of the FCA’s Client Asset Sourcebook relating to client money (the “Client
Money Rules”) and will not be subject to the statutory trust provided for under the Client Money Rules. 
 (b) In particular, the
Purchaser shall not segregate money received by it from Seller from the Purchaser money and the Purchaser shall not be liable to account to Seller for any profits made by the Purchaser use as banker of such cash and upon failure of the Purchaser,
the client money distribution rules within the Client Asset Sourcebook (the “Client Money Distribution Rules”) will not apply to these sums and so Seller will not be entitled to share in any distribution under the Client Money
Distribution Rules. 
 Section 32. Effect of Benchmark Transition Event. 

(a) Notwithstanding anything to the contrary herein or in any other Program Document, upon the occurrence of a Benchmark Transition Event or an
Early Opt-in Election, as applicable, the Agent and the Seller may amend this Agreement to replace LIBOR with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will
become effective at 5:00 p.m. on the fifth (5th) Business Day after the Agent has posted such proposed amendment to the Purchaser and the Seller. Any such amendment with respect to an Early Opt-in Election
will become effective on the date that the Purchaser has delivered to the Agent written notice that the Purchaser accepts such amendment. No replacement of LIBOR with a Benchmark Replacement pursuant to this Section titled “Effect of Benchmark
Transition Event” will occur prior to the applicable Benchmark Transition Start Date. 

  
 - 49 - 

 (b) In connection with the implementation of a Benchmark Replacement, the Agent will have
the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Program Document, any amendments implementing such Benchmark Replacement Conforming Changes will become
effective without any further action or consent of any other party to this Agreement. 
 (c) The Agent will promptly notify the Seller and
the Purchaser of (i) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date and Benchmark Transition Start Date,
(ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes and (iv) the commencement or conclusion of any Benchmark Unavailability Period. 

(d) Any determination, decision or election that may be made by the Agent or Purchaser pursuant to this Section titled “Effect of
Benchmark Transition Event,” including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or
refrain from taking any action, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party hereto, except, in each case, as expressly required pursuant to this
Section titled “Effect of Benchmark Transition Event.” 
 (e) Upon the Seller’s receipt of notice of the commencement of a
Benchmark Unavailability Period and until such Benchmark Unavailability Period ends, the Seller shall apply an alternate benchmark rate (which may be a SOFR-Based Rate) that has been mutually agreed upon by the Agent and the Seller. 

  
 - 50 - 

 IN WITNESS WHEREOF, Purchaser, Agent and Seller have duly executed this Agreement as of the
date and year set forth on the cover page hereof. 
  
  

			
	BARCLAYS BANK PLC
		
	By:	 	              

	Name:
	Title:
	
	LOANDEPOT.COM, LLC
		
	By:	 	              

	Name:
	Title:

  

			
	Acknowledged and Agreed with respect to Section 3:
	
	BARCLAYS CAPITAL INC.
		
	By:	 	              

	Name:
	Title:

 Mortgage Loan Participation Purchase and Sale Agreement Signature Page 

 

 Exhibit A 

PARTICIPATION CERTIFICATE 
 POOL NO. (or Freddie
Mac CONTRACT NO.): 
 This participation certificate evidences a one hundred percent (100%) undivided beneficial ownership interest in
(including the right to receive the payments of principal of and interest on) the Mortgage Loans (the “Participation Certificate”) identified: 

(Check Box) 
  

					
	☐	  	(a)	  	Form HUD 11706 (Schedule of Pooled Mortgages);
			
	☐	  	(b)	  	Fannie Mae Form 2005 (Schedule of Mortgages); or
			
	☐	  	(c)	  	Freddie Mac Form 1034 (Fixed-Rate Custodial Certification Schedule) or Selling System computer tape.

 This Participation Certificate has been sold to Purchaser (as defined herein) pursuant to the terms of
that certain Mortgage Loan Participation Purchase and Sale Agreement, dated August 25, 2020 (the “Agreement”) between loanDepot.com, LLC, as seller (the “Seller”), and Barclays Bank PLC, as purchaser (the
“Purchaser”) and as agent (the “Agent”). Capitalized terms used but not defined herein shall have the meanings set forth in the Agreement, the terms of which are hereby incorporated by reference and made a part of
this Participation Certificate. 
 Upon Delivery of the related Security to Purchaser or its Assignee, Purchaser’s beneficial ownership
interest in the Mortgage Loans evidenced in this Participation Certificate shall terminate in exchange for such Security, and this Participation Certificate shall be void and of no further effect. 

Purchaser and Seller confirm that the transaction contemplated herein pursuant to the Agreement is intended to be a sale of this Participation
Certificate by Seller to Purchaser rather than borrowings secured by this Participation Certificate. In the event, for any reason, this transaction is construed by any court or regulatory authority as a borrowing rather than as a sale, Seller and
Purchaser intend that Purchaser shall have a perfected first priority security interest in this Participation Certificate and all of Seller’s interest in all of the servicing rights with respect to the above-described Mortgage Loans
(“Mortgage Loan Pool”); the Custodial Account and all amounts on deposit therein; all documents, records (including Servicing Records), instruments and data evidencing the Mortgage Loan Pool and the servicing thereof; all principal and
interest collected thereon and all proceeds thereof; the Takeout Commitments related to the Participation Certificate; and the proceeds of any and all of the foregoing (all of the foregoing property, collectively, the “Collateral”), free
and clear of adverse claims. In furtherance thereof, Seller hereby grants to Purchaser a first priority security interest in and lien upon the Collateral, free and clear of adverse claims. 

  
 A-1 

 This Participation Certificate may be amended only by a written agreement between Seller,
Purchaser and Agent. 
  

			
	LOANDEPOT.COM, LLC
		
	By:	 	              

	Its:
	Date:

  
 A-2 

 AGGREGATE PRINCIPAL BALANCES OF THE MORTGAGE LOANS (GIVING EFFECT TO PAYMENTS MADE AS OF _______, ____):
$_____________________ 
  
  

									
		 	Hereby authenticated by Deutsche Bank National Trust Company pursuant to the Custodial Agreement (May not be applicable for Freddie Mac)	 		 		 	
		 		 		 	By:	 	          

	    	 		 		 	Its:	 	
		 		 		 	Date:	 	

  
 A-3 

 Exhibit B 

TRADE ASSIGNMENT 
 __________ (“Takeout
Investor”) 
 (Address) 
 Attention: 

Fax No.:                 

Ladies and Gentlemen: 
 Attached hereto is a
correct and complete copy of your confirmation of commitment (the “Commitment”), trade-dated _________ __, ____, to purchase $______ of __% ___ year, 

(Check Box) 
  

			
	☐	  	Government National Mortgage Association;
		
	☐	  	Federal National Mortgage Association; or
		
	☐	  	Federal Home Loan Mortgage Corporation.

 mortgage-backed pass-through securities (“Securities”) at a purchase price of ___________ from
_________ on (insert Settlement Date). Our intention is to assign $_____ of this Commitment’s full amount, which assignment shall be effective and shall be fully enforceable by the assignee on the Settlement Date. This is to confirm that
(i) the form of this assignment conforms to the SIFMA guidelines, (ii) the Commitment is in full force and effect, (iii) effective as of the Settlement Date, the Commitment is hereby assigned to Barclays Capital Inc.
(“BCI”), whose acceptance of such assignment is indicated below, (iv) you will accept delivery of such Securities directly from BCI, (v) you will pay BCI for such Securities, (vi) effective as of the Settlement Date
and provided the Securities have been issued, BCI is obligated to make delivery of such Securities to you in accordance with the attached Commitment and (vii) effective as of the Settlement Date and provided the Securities have been issued, you
have released Seller from its obligation to deliver the Securities to you under the Commitment. Payment will be made “delivery versus payment (DVP)” to BCI in immediately available funds. 

Please acknowledge your acceptance of the foregoing by countersigning below and delivering an executed copy of this Trade Assignment to
_______________ at fax # (___) ___-____. Notification of incorrect information or rejection of this Trade Assignment or any questions regarding this Trade Assignment should be immediately made to [_____]. 

  
 B-1 

 
			
	 Very truly yours,
  

loanDepot.com, LLC

		
	 By:
 Title:

Date:
	 	
                          
                                         
     
 
 

  

			
	Acknowledged and agreed to:
	
	BARCLAYS CAPITAL INC.
	By:	 	              

	Title:	 	              

	Date:	 	          

	

 Provided the Securities have been issued, notice of delivery and confirmation of receipt will be the obligations of Barclays.

  

			
	Acknowledged and agreed to:
	
	[TAKEOUT INVESTOR]
		
	By:	 	              

	Title:	 	              

	Date:	 	  

  
 B-2 

 Exhibit C 

RESERVED 

  
 C-1 

 Exhibit D 

WAREHOUSE LENDER’S RELEASE 
 Barclays Bank
PLC 
 745 7th Avenue, 4th Floor 
 New York, New York 10019 

Attention: 
 Ladies and Gentlemen: 

Capitalized terms used herein but not defined herein shall have the meanings ascribed to such terms in the Custodial Agreement, dated as of
August 25, 2020, among Barclays Bank PLC, loanDepot.com, LLC and Deutsche Bank National Trust Company. 
 We hereby release all right,
interest or claim of any kind, including any security interest or lien, with respect to the mortgage loans referenced in the attached schedule (Ginnie Mae/Fannie Mae/Freddie Mac Pool/Contract #__________), such release to be effective automatically
without any further action by any party, upon payment, in one or more installments, from Barclays Bank PLC, in accordance with the Wire Instructions in effect on the date of such payment, in immediately available funds, of an aggregate amount equal
to the product of A multiplied by B (such product being rounded to the nearest $0.01) multiplied by C.* 
  

	
	Very truly yours,
	
	[WAREHOUSE LENDER]

  

			
	 *A = weighted average Trade Price (expressed as a percentage of the initial aggregate principal balance of the Mortgage Loans)

B = principal amount of the Mortgage Loans
 backing the
Security
 C = 1 minus the Discount
	  	

  
 D-1 

 Exhibit E 

ASSIGNMENT 
 FOR VALUE RECEIVED the undersigned
hereby sell(s) and assign(s) and transfer(s) unto 
 (Please print or typewrite name and address, including postal zip code of assignee) 

an undivided Participation Interest Equal to    % of the beneficial interest in the Mortgage Loans relating to the within Participation
Certificate, Pool No. (Freddie Mac Contract No.)    , Pass-Through Rate    , Discount                and hereby authorize(s)
the transfer of registration of such interest to assignee. 
  

			
	[Assignor]
		
	By:	 	              

	Name:	 	
	Title:	 	

 Dated: ________________ 

  
 E-1 

 Exhibit F 

FORM OF CONFIRMATION 
  

	TO:	 loanDepot.com, LLC 

26642 Towne Centre Drive 

Foothill Ranch, California 92610 

Attention: Sheila Mayes, SVP, Treasury 

email: smayes@loandepot.com 

Attention: Patrick Flanagan, Chief Financial Officer 

email: pflanagan@loandepot.com 

Attention: Peter Macdonald, General Counsel 

email: pmacdonald@loandepot.com 
 DATE:

  

	RE:	 Confirmation of Purchase of a beneficial interest in 

Mortgage Loans relating to a Participation Certificate 

Barclays Bank PLC (“Purchaser” and “Agent”) is pleased to confirm its agreement to purchase and your
agreement to sell a 100% undivided, beneficial interest in the Mortgage Loans relating to a Participation Certificate relating to the pool number (or Freddie Mac Contract Number) referred to herein, pursuant to the Mortgage Loan Participation
Purchase and Sale Agreement, dated as of August 25, 2020 (the “Agreement”), between Purchaser, Agent and Seller, under the following terms and conditions. 

 

			
	                        	 	Pool No. (or Freddie Mac Contract No.)
		 	Applicable Agency
		 	Purchase Date
		 	Anticipated Delivery Date
		 	Settlement Date
		 	Trade Price
		 	Purchase Price:
		 	Initial Purchase Price Installment
		 	Final Purchase Price Installment
		 	Face Amount of the Security_________________________
		 	Pass Through Rate
		 	[Other information TBD]

  
 F-1 

 Capitalized terms used and not otherwise defined herein shall have the meanings ascribed in the Agreement.

  

			
	Very truly yours,
	
	BARCLAYS BANK PLC
		
	By:	 	          

	Name:	 	
	Title:	 	

  

			
	Agreed to by:
	
	LOANDEPOT.COM, LLC

			
		
	By:	 	          

	Name:	 	
	Title:	 	

  
 F-2 

 Annex A 

PURCHASER NOTICES 
  

			
	Name:	  	Barclays Bank PLC
		
	Address:	  	 745 7th Avenue, 4th Floor
 New York, New York
10019

		
	Telephone:	  	(212) 412-3266
		
	Telecopy:	  	(212) 412-6846
		
	with a copy to:	  	
		
		  	 Barclays Capital – Operations
 1301 Sixth
Ave, 8th Floor
 New York, NY 10019
 Attention: Roger
Billotto
 Email: roger.billotto@barclays.com

 AGENT NOTICES 
  

			
	Name:	  	Barclays Bank PLC
		
	Address:	  	 745 7th Avenue, 4th Floor
 New York, New York
10019

		
	Telephone:	  	(212) 412-3266
		
	Telecopy:	  	(212) 412-6846

  
 Annex A-1 

 SELLER NOTICES 

 

			
		
	Name:	  	loanDepot.com, LLC
		
	Address:	  	 26642 Towne Centre Drive
 Foothill Ranch,
California 92610
 Attention: Sheila Mayes, SVP, Treasury

Email: smayes@loandepot.com

		
	Telephone:	  	(949)575-5481
		
	with copies to:	  	
		
		  	 loanDepot.com, LLC
 26642 Towne Centre Drive

Foothill Ranch, California 92610
 Attention: Patrick Flanagan,
Chief Financial Officer
 email: pflanagan@loandepot.com
  

Attention: Peter Macdonald, General Counsel
 email:
pmacdonald@loandepot.com

		
	For purposes of service of process:	  	 National Registered Agents, Inc.
 818 West
Seventh Street, Suite 930
 Los Angeles, California 90017

  
 Annex A-2EX-10.35

 Exhibit 10.35 

MASTER REPURCHASE AGREEMENT 

Dated as of June 3, 2016 
 Between:

 LOANDEPOT.COM LLC, as Seller 
 and 

JPMORGAN CHASE BANK, N.A., as Buyer 
 1. Applicability

 From time to time before the Termination Date, the Parties may enter into transactions in which Seller agrees to transfer to JPMorgan
Chase Bank, N.A. (together with its successors and assigns, “Buyer”) Mortgage Loans (including their Servicing Rights) on a servicing released basis against the transfer of funds by Buyer, with a simultaneous agreement by Buyer to
transfer to Seller those Mortgage Loans (including the Servicing Rights to them) on a servicing released basis at a date certain or on demand, against the transfer of funds by Seller. Each such transaction shall be referred to in this Agreement as a
“Transaction” and shall be governed by this Agreement. Buyer shall have no obligation to enter into any Transaction on or after the Termination Date. 

2. Definitions; Interpretation 
 (a)
Definitions. As used in this Agreement and (unless otherwise defined differently therein) in each other Transaction Document, the following terms have these respective meanings. 

“1934 Act” is defined in Section 27(a). 

“Accounts” means, collectively, the Cash Pledge Account, the Funding Account and the Operating Account, each of which is a
deposit account held at Financial Institution, all interest accrued on, additions to and proceeds of such deposit accounts and all deposits, payment intangibles, financial assets and other obligations of Financial Institution credited to or
comprising a part of such deposit accounts, whether they are demand deposit accounts, or certificated or book entry certificates of deposit (whether negotiable or non-negotiable), investment time deposits,
savings accounts, money market accounts, transaction accounts, time deposits, negotiable order of withdrawal accounts, share draft accounts and whether they are evidenced or represented by instruments, general intangibles, payment intangibles,
chattel paper or otherwise, and all funds held in or represented by any of the foregoing, and any successor accounts howsoever styled or numbered and all deposit accounts established in renewal, extension or increase or decrease of, or replacement
or substitution for, any of the foregoing; and all promissory notes, checks, cash, certificates of deposit, passbooks, deposit receipts, instruments, certificates and other records from time to time representing or evidencing the deposit accounts
described above and any supporting obligations relating to any of the foregoing property. 

 “Act of Insolvency” means with respect to any Person (a) the
commencement by that Person as debtor of any case or proceeding under any bankruptcy, insolvency, reorganization, liquidation, dissolution or similar law, or a request by that Person for the appointment of a receiver, trustee, custodian or similar
official for that Person or any substantial part of its property; (b) the commencement of any such case or proceeding against that Person, or another’s seeking such appointment, or the filing against that Person of an application for a
protective decree that (i) is consented to or not timely contested by that Person, or (ii) results in the entry of an order for relief, such an appointment, the issuance of such a protective decree or the entry of an order having similar
effect, or (iii) is not dismissed within sixty (60) days; (c) the making by that Person of a general assignment for the benefit of creditors; (d) the admission in writing by that Person that it is unable to pay its debts as they
become due, or the nonpayment of its debts generally as they become due; or (e) the board of directors, managers, members or partners, as the case may be, of that Person taking any action in furtherance of any of the foregoing. 

“Additional Purchased Mortgage Loans” means Mortgage Loans provided by Seller to Buyer pursuant to
Section 4(a). 
 “Adjusted LIBO Rate” is defined in the Side Letter. 

“Adjusted Tangible Net Worth” means, with respect to Seller and its Subsidiaries on a consolidated basis on any day, an
amount equal to: 
  

	 	 (i) the Tangible Net Worth of Seller and its Subsidiaries on a consolidated basis on that day;

  

	plus	 (ii) the lesser of (x) one percent (1%) of the Outstanding Principal Balances of all Mortgage Loans
for which Seller and its Subsidiaries own the Servicing Rights and (y) the capitalized value of Seller’s and its Subsidiaries’ Servicing Rights on that day; 

 

	plus	 (iii) the then unpaid principal amount of all Qualified Subordinated Debt of Seller and its Subsidiaries;

  

	minus	 (iv) the book value of Mortgage Loans held by Seller and its Subsidiaries for investment purposes net of
their reserves against Mortgage Loan investment losses on that day; 

  

	plus	 (v) the lesser of (x) the amount subtracted pursuant to clause (iv) immediately above and
(y) fifty percent (50%) of the sum of the Outstanding Principal Balances of Mortgage Loans then held by Seller and its Subsidiaries for investment purposes; 

 

	minus	 (vi) fifty percent (50%) of the book value of REO Property held by Seller and its Subsidiaries net
of their reserves against REO Property losses on that day; 

  
 2 

	minus	 (vii) without duplication of the amounts deducted above or in the definition of Tangible Net Worth, fifty
percent (50%) of the book value of other illiquid investments held by Seller and its Subsidiaries net of their reserves against other illiquid investments on that day. 

“Affiliate” means, as to a specified Person, any other Person (a) that directly or indirectly through one or more
intermediaries controls, is controlled by or is under common control with the specified Person, (b) that directly or indirectly through one or more intermediaries, is the beneficial owner of ten percent (10%) or more of the voting securities of
the specified Person or (c) of which the specified Person is directly or indirectly the owner of ten percent (10%) or more of the voting securities (or equivalent voting equity interests). For the purposes of this definition,
“control” means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise and the terms “controlling”, “controlled
by” and “under common control with” have meanings correlative to the meaning of “control”. Notwithstanding the foregoing, except where the term “Affiliate” is used in this Agreement or any other Transaction
Document in reference to or in respect of Anti-Corruption Laws or Anti-Money Laundering Laws, none of the direct or indirect holders of any equity interest in Parthenon Investors III, L.P., PCap Associates or Parthenon Capital Partners Fund, L.P.
(which three companies are, as of the date of this Agreement, the owners of all of the stock of LD Investment Holdings, Inc.) or any entity “controlling” or “controlled by” or “under common control with” any direct or
indirect holders of any equity interest in any of those three named companies (other than LD Investment Holdings, Inc., Seller or Seller’s Subsidiaries), shall constitute an “Affiliate” of Seller or any of its Subsidiaries. 

“Aged Loan” means, on any day, a Purchased Mortgage Loan whose Purchase Date was more than forty-five (45) days but not
more than seventy-five (75) days before that day. 
 “Agency” (and, with respect to two or more of the following,
“Agencies”) means FHA, Fannie Mae, Ginnie Mae, Freddie Mac, RHS or VA. 
 “Agency Guidelines” means those
requirements, standards, policies, procedures and other guidance documents governing the Agencies’ respective standards and requirements for their purchase or guaranty of residential mortgage loans, as issued or adopted by the Agencies from
time to time, as modified for Seller by written modifications of which copies have been provided to Buyer. 
 “Aggregate Purchase
Price” means, at any time, the sum of the outstanding balances of the Purchase Prices paid by Buyer for all Purchased Mortgage Loans that are subject to outstanding Transactions. 

“Agreement” means this Master Repurchase Agreement (including all supplemental terms and conditions contained in its Exhibits
and Schedules and the Side Letter), as supplemented, amended or restated from time to time. 

  
 3 

 “Anti-Corruption Laws” means all laws, rules and regulations of any
jurisdiction applicable to Seller or its Affiliates from time to time concerning or relating to bribery or corruption. 

“Anti-Money Laundering Laws” means federal, state and local anti-money laundering laws, orders and regulations, including the
USA Patriot Act of 2001, the Bank Secrecy Act, OFAC regulations and applicable Executive Orders. 
 “Appraised Value
Alternative” means with respect to (i) refinanced Mortgage Loans underwritten with the use of the Fannie Mae direct underwriting system with respect to which a property inspection waiver has been issued, (ii) Fannie Mae “DU
Refi” Mortgage Loans and (iii) Freddie Mac “Open Access” Mortgage Loans, the value entered by Seller into Fannie Mae’s Desktop Underwriter or Freddie Mac’s Loan Prospector system, as applicable. In the case of FHA
streamlined Mortgage Loans, “Appraised Value Alternative” means the appraised value reported in the FHA Connection system for the Mortgagor’s previous loan that is being refinanced by the subject Loan. 

“Approved DU Jumbo Takeout Investor” means an Approved Takeout Investor that has been specifically approved in writing by
Buyer for purchases of DU Jumbo Loans. 
 “Approved Jumbo Takeout Investor” means an Approved Takeout Investor that has
been approved in writing by Buyer for purchases of Jumbo Loans. 
 “Approved Takeout Investor” means any of (i) Fannie
Mae, Freddie Mac and the other entities listed on Schedule I, as such schedule is updated from time to time by Buyer, in its reasonable discretion, with written notice to Seller and Custodian, or (ii) an entity that is acceptable to
Buyer in its reasonable discretion, as indicated by Buyer to Seller and Custodian in writing; provided that, notwithstanding the foregoing, any entity described in the foregoing clauses (i) and (ii) that
fails to perform any of its obligations under its Takeout Agreement shall cease to be an Approved Takeout Investor automatically upon such failure unless Buyer waives such disqualification in writing. 

“Asset File” is defined in the Custodial Agreement. 

“Asset Schedule” is defined in the Custodial Agreement. 

“Asset Schedule and Exception Report” is defined in the Custodial Agreement. 

“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 effect the transfer of the Mortgage to the party indicated therein. 

“Attorney Bailee Letter” is defined in the Custodial Agreement. 

  
 4 

 “Authorized Signers” means each of the officers of Seller listed on
Schedule II or otherwise designated by the officer of Seller who is Seller’s administrator with respect to Mortgage Finance Online, as such schedule may be updated by Seller from time to time with prior written notice to Buyer. 

“Available Warehouse Facilities” means, as the context requires, (i) the aggregate amount at any time of used and unused
available warehouse lines of credit, purchase facilities, repurchase facilities, early purchase program facilities and off-balance sheet funding facilities (whether committed or uncommitted) to finance
Mortgage Loans available to Seller at such time or (ii) such warehouse lines of credit, purchase facilities, repurchase facilities, early purchase program facilities and off-balance sheet funding
facilities themselves. 
 “Bailee Letter” is defined in the Custodial Agreement. 

“Bankruptcy Code” means Title 11 of the United States Code (11 U.S.C. Section 101
et seq.), as amended by the Bankruptcy Reform Act and as further amended from time to time, or any successor statute. 

“Bankruptcy Reform Act” means the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, effective as of
October 17, 2005. 
 “Blanket Bond Required Endorsement” means endorsement of Seller’s mortgage banker’s
blanket bond insurance policy to (i) provide that for any loss affecting Buyer’s interest, Buyer will be named on the loss payable draft as its interest may appear and (ii) provide Buyer access to coverage under the theft of secondary
market institution’s money or collateral clause of policy. 
 “Business Day” means a day (other than a Saturday or
Sunday) when (i) banks in Houston, Texas, Orange County, California and New York, New York are generally open for commercial banking business and (ii) federal funds wire transfers can be made. 

“Cash Equivalents” means any of the following: (a) marketable direct obligations issued by, or unconditionally
guaranteed by, the United States Government or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within ninety (90) days or less after the date of the applicable financial statement
reporting such amounts; (b) certificates of deposit, time deposits or Eurodollar time deposits having maturities of ninety (90) days or less after the date of the applicable financial statement reporting such amounts, or overnight bank
deposits, issued by any well-capitalized commercial bank organized under the laws of the United States or any state thereof having combined capital and surplus of not less than Five Hundred Million Dollars ($500,000,000) and rated at least A- by S&P or A3 by Moody’s; (c) repurchase obligations 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, 

  
 5 

 
political subdivision, taxing authority or foreign government (as the case may be) 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. 
 “Cash Pledge
Account” means the blocked Seller’s account (under the sole dominion and control of Buyer) with JPM Chase styled as follows: 

loanDepot.com 
 JPMorgan Chase
Secured Party 
 Cash Pledge Account 

Acct. no. 

“CFPB” means the Consumer Financial Protection Bureau or any successor. 

“Change in Control” means the acquisition by any Person, or two or more Persons acting in concert, of beneficial ownership
(within the meaning of Rule 13d-3 of the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended) of outstanding shares of voting stock (or equivalent equity interests) of
Seller or any Guarantor at any time if, after giving effect to such acquisition, Parthenon Investors III, L.P., PCap Associates and Parthenon Capital Partners Fund, L.P., and Anthony Hsieh and his Family Members and his Family Trusts, do not
together own and control, directly or indirectly, more than fifty percent (50%) of the outstanding equity interests of Seller. 

“Change in Law” means (a) the adoption of a Requirement of Law after the date of this Agreement, (b) any change in
a Requirement of Law after the date of this Agreement or (c) compliance by Buyer (or by any applicable lending office of Buyer) with any Requirement of Law made or issued after the date of this Agreement; provided that, notwithstanding
anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all rules, regulations, guidelines and directives thereunder, issued in connection therewith or in implementation thereof, and (ii) all
requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case
pursuant to Basel III, shall in each case be deemed to be a Change in Law regardless of the date enacted, adopted, issued or implemented. 

“CL” means JPM Chase, operating through either its unincorporated division commonly known as its Correspondent Lending group
or its unincorporated division commonly known as Chase Rural Housing. 
 “Combined Loan-to-Value Ratio” or “CLTV” means, for each Mortgage Loan as of its Purchase Date, a fraction (expressed as a percentage) having as its numerator the sum of (i) the original
principal amount of the Mortgage Note plus (ii) the original principal amount of each other Mortgage Loan that is secured by a junior Lien against the related Mortgaged Property, and as its denominator the lesser of (x) the sales price of
the related Mortgaged Property and (y) 

  
 6 

 
either (as applicable) (1) the appraised value of the related Mortgaged Property indicated in the appraisal obtained in connection with the Origination of such Mortgage Loan if an appraisal
is required by the relevant Agency Guidelines or Approved Takeout Investor or (2) the value set forth in the Appraised Value Alternative with respect to those Mortgage Loans for which an appraisal is not required under the relevant Agency
Guidelines. 
 “Completed Repurchase Advice” means with respect to any Purchased Mortgage Loan, receipt by Buyer of: 

(i) funds deposited into the Funding Account in an amount at least equal to (x) the Repurchase Price of such Purchased Mortgage Loan
minus (y) any unpaid Price Differential to be paid by Seller on the next Remittance Date, and if a lesser amount is deposited in the Funding Account, confirmation that funds in an amount at least equal to such deficiency are on deposit
in the Operating Account and available for withdrawal by Buyer after taking into account all other payments required to be made by Seller from the Operating Account; 

(ii) confirmation from the related Approved Takeout Investor (or other purchaser of such Mortgage Loan) in a form reasonably acceptable to
Buyer, that the funds so received in the Funding Account are for the purchase of that Purchased Mortgage Loan; and 
 (iii) the Asset
Schedule description of that Purchased Mortgage Loan, to enable Buyer to identify the specific Mortgage Loan to be removed from the list of Purchased Mortgage Loans subject to outstanding Transactions under this Agreement. 

“Compliance Certificate” means a compliance certificate substantially in the form of Exhibit C, completed, executed by
the chief financial officer, chief accounting officer or controller of Seller and submitted to Buyer. 
 “Confirmation”
means Seller’s written request to Buyer to enter into a Transaction, substantially in the form of Exhibit A or such other form as Buyer and Seller shall agree to use, completed as required by Section 3(c) and
submitted to Buyer as “Step 3: Validate Entry” on the “Warehouse Request” tab of Mortgage Finance Online. 

“Conventional Conforming Loan” means a Mortgage Loan that conforms to Agency Guidelines. The term Conventional Conforming
Loan does not include a Mortgage Loan that is a Government Loan or a Jumbo Loan. 
 “Co-op
Corporation”, “Co-op Loan”, “Co-op Project”, “Co-op Shares” and
“Co-op Unit” are each defined in the Custodial Agreement. 
 “Credit
File” means, with respect to a Mortgage Loan, all of the paper and documents required to be maintained pursuant to the related Takeout Commitment or the related Hedging Arrangement, as applicable, and all other papers and records of
whatever kind or description, whether developed or created by Seller or others, required to Originate, document or service the Mortgage Loan. 

“Custodial Agreement” means the Custodial Agreement of even date herewith among Buyer, Seller and Custodian. 

  
 7 

 “Custodian” means Deutsche Bank National Trust Company, the Custodian under
the Custodial Agreement, and its successors. 
 “Debt” means, with respect to any Person, on any day (a) all
indebtedness or other obligations of such Person (and, if applicable, that Person’s Subsidiaries, on a consolidated basis) that, in accordance with GAAP, should be included in determining total liabilities as shown on the liabilities side of a
balance sheet of such Person at such date, and (b) all indebtedness or other obligations of such Person (and, if applicable, that Person’s Subsidiaries, on a consolidated basis) for borrowed money or for the deferred purchase price of
property or services; provided that, for purposes of this Agreement, there shall be excluded from Debt on any day trade accounts payable, loan loss reserves, deferred taxes arising from capitalized excess service fees, operating leases and
Qualified Subordinated Debt. 
 “Default” means any condition or event that, with the giving of notice or lapse of time or
both, would constitute an Event of Default. 
 “Defaulted Loan” means a Mortgage Loan (i) as to which any principal or
interest payment, escrow payment or part thereof, remains unpaid for thirty (30) days or more from the original due date for such payment (whether or not Seller has allowed any grace period or extended the due date thereof by any means), (ii)
as to which another material default has occurred and is continuing, (iii) as to which foreclosure proceedings have commenced, (iv) as to which an Act of Insolvency has occurred with respect to its Mortgagor or any cosigner, guarantor,
endorser, surety, assumptor or grantor, or (iv) that, consistent with Seller’s collection policies, has been or should be written off as uncollectible in whole or in part. 

“Defective Mortgage Loan” means (i) a Mortgage Loan that is not an Eligible Mortgage Loan or (ii) a Purchased
Mortgage Loan in which Buyer does not have a valid and perfected first priority security interest or that is not free and clear of any other Lien. 

“Delivered Mortgage Loan” is defined in the Custodial Agreement. 

“Dormant Subsidiaries” means the following inactive Subsidiaries of the Seller, each of which was formed in connection with a
contemplated initial public offering, so long as such Subsidiaries remain inactive and respectively do not hold assets having value of more than Five Hundred Thousand Dollars ($500,000): loanDepot, Inc., LD Intermediate, LLC and loanDepot Holdings,
LLC. 
 “DTI” means the ratio of a Mortgagor’s recurring monthly debt obligations to his or her gross monthly income.

 “DU Jumbo Loan” means a Jumbo Loan underwritten by Seller pursuant to underwriting authority delegated to Seller by an
Approved DU Jumbo Takeout Investor 
 “Early Repurchase Date” is defined in Section 3(k)(ii).

 “Electronic Agent” is defined in the definition of “Electronic Tracking Agreement”. 

  
 8 

 “Electronic Signature” means an electronic sound, symbol, or process
attached to, or associated with, a contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record. 

“Electronic Tracking Agreement” means the Electronic Tracking Agreement dated on or about the date hereof by and among Buyer,
Seller, MERS and MERSCORP Holdings, Inc. (the “Electronic Agent”), as supplemented, amended or restated from time to time. 

“Eligible Mortgage Loan” means, on any date of determination, a Mortgage Loan: 

(i) for which each of the applicable representations and warranties set forth on Exhibit B is true and correct as of such date of
determination; 
 (ii) that is either a Conventional Conforming Loan, a Government Loan or a Jumbo Loan; 

(iii) whose Origination Date was no more than thirty (30) days before the Purchase Date for the initial Transaction in which that Mortgage
Loan was purchased by Buyer; 
 (iv) that is eligible for sale to an Approved Takeout Investor under its Takeout Guidelines; 

(v) that has a required Repurchase Date not later than the following number of days after the Purchase Date for the initial Transaction to
which that Mortgage Loan was subject: 
  

					
	 Type of Mortgage Loan
	  	Number of days	 
	 Aged Loan
	  	 	75	 
	 Long Aged Loan
	  	 	90	 
	 Conventional Conforming Loan
	  	 	45	 
	 Government Loan
	  	 	45	 
	 Jumbo Loan
	  	 	45	 

 (vi) that does not have a Combined
Loan-to-Value Ratio in excess of (i) one hundred five percent (105%) in the case of a Conventional Conforming Loan or a Government Loan other than an RHS Loan or a
High-CLTV Loan, (ii) one hundred two and forty-one thousandths percent (102.041%) in the case of an RHS Loan, (iii) one hundred twenty-five percent (125%) in the case of High-CLTV Loans or
(iv) in the case of a Jumbo Loan the applicable maximum CLTV specified on Schedule III (or, in each case, such higher percentage determined by Buyer in its sole discretion and specified in a written notice from Buyer to Seller from time
to time) and, if its Loan-to-Value Ratio is in excess of eighty percent (80%) (or such higher percentage as may be determined by Buyer in its sole discretion and
specified in a written notice from Buyer to Seller from time to time), it has private mortgage insurance in an amount required by the applicable Agency Guidelines, unless pursuant to Agency Guidelines in existence at the time such Mortgage Loan was
originated, private mortgage insurance is not required for such Mortgage Loan; 

  
 9 

 (vii) whose Mortgagor has a FICO Score of at least (i) 620 in the case of all Mortgage Loans
other than Low FICO Government Loans or (ii) 580 in the case of Low FICO Government Loans (or, in each case, such lower minimum FICO Score as may be determined by Buyer in its sole discretion from time to time and specified in a written notice to
Seller); 
 (viii) for which, on or before its Purchase Date, an Asset Schedule in which it is listed has been delivered to Buyer and
Custodian; 
 (ix) for which, if not a Wet Loan, a complete Asset File has been delivered to Custodian on or before its Purchase Date and
Buyer has received a Trust Receipt that includes it; 
 (x) for which, if a Wet Loan: 

(A) on or before its Purchase Date, a written fraud detection report reasonably acceptable to Buyer has been delivered to Buyer or (if Seller
has paid the Fraud Detection Fee set forth in the Side Letter) has been obtained by Buyer; 
 (B) on or before its Purchase Date, an Asset
Schedule in which it is listed has been delivered to Buyer and Custodian and Buyer has received a Trust Receipt that includes it; 
 (C) if
requested by Buyer, all applicable items listed in clauses (i) through (iii) of the definition of Loan Eligibility File have been delivered to Buyer on or before its Purchase Date; 

(D) and if it is also a Jumbo Loan, the applicable items listed in clauses (xx) and (xxi) of this definition of Eligible
Mortgage Loan have been delivered to Buyer on or before its Purchase Date; and 
 (E) at or before its Wet Delivery Deadline, a complete
Asset File has been delivered to Custodian and Buyer has received a Trust Receipt that includes it; 
 (xi) if a Wet Loan, whose Purchase
Price, when added to the sum of the Purchase Prices of all other Wet Loans that are then subject to Transactions, is less than or equal to (i) sixty percent (60%) of the Facility Amount on any day that is one of the first five (5) or last
five (5) Business Days of any month, or (ii) forty percent (40%) of the Facility Amount on any other day; provided that Buyer may specify such higher percentage or percentages as it shall determine in its sole discretion and state in a
written notice to Seller from time to time; 
 (xii) that, if subject to a Takeout Commitment, (a) is not subject to a Takeout Agreement
that has expired or been terminated or cancelled by the Approved Takeout Investor or with respect to which Seller is in default, (b) has not been rejected or excluded for any reason (other than default by Buyer) from the related Takeout
Commitment by the Approved Takeout Investor; 
 (xiii) that, if subject to a Hedging Arrangement, is not subject to a Hedging Arrangement
that has expired or been cancelled by the Hedging Arrangement counterparty or with respect to which Seller is in default or a termination event has occurred 

  
 10 

 (xiv) if an RHS Loan, whose Purchase Price, when added to the sum of the Purchase Prices of
all other RHS Loans that are then subject to Transactions, is less than or equal to twenty percent (20%) (or such higher percentage as may be determined by Buyer in its sole discretion and specified in a written notice from Buyer to Seller from time
to time) of the Facility Amount; 
 (xv) if a Second Home Loan, an Investor Loan or a Low FICO Government Loan, whose Purchase Price, when
added to the sum of the Purchase Prices of all Second Home Loans, Investor Loans and Low FICO Government Loans that are then subject to Transactions, is less than or equal to ten percent (10%) (or such higher percentage as may be determined by Buyer
in its sole discretion and specified in a written notice from Buyer to Seller from time to time) of the Facility Amount; 
 (xvi) if a
High-CLTV Loan, whose Purchase Price, when added to the sum of the Purchase Prices of all other High-CLTV Loans that are then subject to Transactions, is less than or equal to the lesser of Twenty-five Million Dollars ($25,000,000) or five percent
(5%) of the Facility Amount (or such higher maximum amount or maximum percentage of the Facility Amount as may be determined by Buyer in its sole discretion and specified in a written notice from Buyer to any Seller from time to time); 

(xvii) if an Aged Loan, whose Purchase Price, when added to the sum of the Purchase Prices of all other Aged Loans and all Long Aged Loans that
are then subject to Transactions, is less than or equal to seven percent (7%) (or such higher percentage as may be determined by Buyer in its sole discretion and specified in a written notice from Buyer to any Seller from time to time) of the
Facility Amount; 
 (xviii) if a Long Aged Loan, whose Purchase Price, when added to the sum of the Purchase Prices of all other Long Aged
Loans and all Aged Loans that are then subject to Transactions, is less than or equal to seven percent (7%) (or such higher percentage as may be determined by Buyer in its sole discretion and specified in a written notice from Buyer to any Seller
from time to time) of the Facility Amount; 
 (xix) if a Jumbo Loan, whose Purchase Price, when added to the sum of the Purchase Prices of
all other Jumbo Loans that are then subject to Transactions, is less than or equal to twenty percent (20%) (or such higher percentage as may be determined by Buyer in its sole discretion and specified in a written notice from Buyer to any Seller
from time to time) of the Facility Amount; 
 (xx) if a Jumbo Loan, evidence reasonably satisfactory to Buyer (Buyer may require that Seller
provide a copy of the related Takeout Agreement and Seller will provide it unless both (i) such Takeout Agreement expressly either prohibits Seller from doing so or conditions Seller’s ability to do so upon first obtaining the related
Approved Takeout Investor’s consent and (ii) Seller cannot obtain such consent) that it is covered by a valid and binding best efforts Takeout Commitment issued by an Approved Jumbo Takeout Investor (for the avoidance of doubt, Jumbo Loans
covered by a mandatory Takeout Commitment or by Hedging Arrangements only are ineligible for purchase); 

  
 11 

 (xxi) if a Nondelegated Jumbo Loan, evidence reasonably satisfactory to Buyer of
underwriting approval of such Nondelegated Jumbo Loan by an Approved Jumbo Takeout Investor; 
 (xxii) that is not a Mortgage Loan that
Seller has failed to repurchase when required by the terms of this Agreement; 
 (xxiii) for which the related Mortgage Note has not been out
of the possession of Buyer pursuant to a Request for Documents Release for more than fifteen (15) days after the date of that Request for Documents Release; 

(xxiv) for which neither the related Mortgage Note nor the Mortgage has been out of the possession of Custodian pursuant to a Bailee Letter for
more than the number of days specified in such Bailee Letter; and 
 (xxv) that is not a Defaulted Loan. 

“ERISA” means the Employee Retirement Income Security Act of 1974, all rules and regulations promulgated thereunder and any
successor statute, rules and regulations, as amended from time to time. 
 “ERISA Transaction” is defined in
Section 25(a). 
 “Event of Default” is defined in Section 12. 

“Existing Equity Investor” means the holders of the equity interests in Seller as of the date hereof, and in each case their
respective Family Members and Family Trusts. 
 “Facility Amount” is defined in the Side Letter. 

“Family Member” means, with respect to any individual, any other individual having a relationship by blood, marriage, or
adoption to such individual. 
 “Family Trust” means, with respect to any individual, any trust or other estate planning
vehicle established for the benefit of such individual or Family Members of such individual. 
 “Fannie Mae” means the
Federal National Mortgage Association or any successor. 
 “FATCA” means Sections 1471 through 1474 of the Code, as in
effect on the date of this Agreement (or any amended or successor version that is substantively comparable), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of
the Code. 
 “FDIA” means the Federal Deposit Insurance Act, as amended from time to time. 

“FDIC” means the Federal Deposit Insurance Corporation or any successor. 

  
 12 

 “FDICIA” means the Federal Deposit Insurance Corporation Improvement Act of
1991, as amended from time to time. 
 “FHA” means the Federal Housing Administration, a subdivision of HUD, or any
successor. The term “FHA” is used interchangeably in this Agreement with the term “HUD”. 
 “FICO
Score” means, with respect to any Mortgagor, the statistical credit score prepared by Fair Isaac Corporation, Experian Information Solutions, Inc., TransUnion LLC or such other Person as may be approved in writing by Buyer in its sole
discretion. 
 “Financial Institution” means JPM Chase in its capacity of the bank at which the Accounts are held. 

“Flood Laws” is defined in the definition of “Requirement(s) of Law”. 

“Foreign Buyer” is defined in Section 11(f)(ii). 

“Freddie Mac” means the Federal Home Loan Mortgage Corporation or any successor. 

“FTC Act” is defined in the definition of “Requirement(s) of Law”. 

“Funding Account” means the blocked Seller’s account (under the sole dominion and control of Buyer) with JPM Chase
styled as follows: 
 loanDepot.com 

JPMorgan Chase Secured Party 

Funding Account 
 Account no.
918038878 
 “GAAP” means 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 statements and pronouncements of such other entity as may be approved by a
significant segment of the accounting profession. 
 “Ginnie Mae” means the Government National Mortgage Association or any
successor. 
 “GLB Act” means the Gramm-Leach-Bliley Act of 1999 (Public Law
106-102, 113 Stat 1338), as it may be amended from time to time. 
 “Government
Loan” means a Mortgage Loan that is insured by the FHA or guaranteed by the Department of Veterans Affairs or RHS or the housing authority of a state of the United States. The term “Government Loan” does not include any Mortgage
Loan that is a Conventional Conforming Loan or a Jumbo Loan. 

  
 13 

 “Governmental Authority” means and includes the government of the United
States of America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, central bank or other entity exercising executive, legislative, judicial, taxing,
regulatory or administrative powers or functions of or pertaining to government, any governmental or quasi-governmental department, commission, board, bureau or instrumentality, any court, tribunal or
arbitration panel, and, with respect to any Person, any private body having regulatory jurisdiction over any Person or its business or assets. 

“Guarantor” means any Person who now or hereafter executes a guaranty to support the obligations of Seller under this
Agreement and the other Transaction Documents. 
 “Guaranty” means and includes each guaranty executed by a Guarantor in
favor of Buyer, in each case, as supplemented, amended or restated from time to time. 
 “Hedging Arrangement” means any
forward sales contract, forward trade contract, interest rate swap agreement, interest rate cap agreement or other contract pursuant to which Seller has protected itself from the consequences of a loss in the value of a Mortgage Loan or its
portfolio of Mortgage Loans because of changes in interest rates or in the market value of mortgage loan assets. 
 “High-CLTV
Loan” means a Conforming Conventional Loan or a Government Loan that is either insured by FHA or guaranteed by VA (but excluding Government Loans insured by RHS), whose CLTV is greater than 105% but less than or equal to 125%, whose
Mortgagor’s FICO Score is 620 or higher and that is covered by a Takeout Commitment issued by an Approved Takeout Investor. 

“HUD” means the U.S. Department of Housing and Urban Development or any successor department or agency. The term
“HUD” is used interchangeably in this Agreement with the term “FHA”. 
 “Impound Collection Account”
means the deposit account designated as an escrow or agency account held or to be established with JPM Chase, styled as follows: 
 Impound
Collection Account for loanDepot.com 
 “Income” means, with respect to any Purchased Mortgage Loan, (i) all payments
of principal, payments of interest, proceeds of Takeout Commitments, proceeds of Hedging Arrangements, cash collections, dividends, sale or insurance proceeds and other cash proceeds received, in each case relating to the Purchased Mortgage Loan or
Mortgage Assets related thereto, (ii) any other payments or proceeds received in relation to the Purchased Mortgage Loan or Mortgage Assets related thereto (including any liquidation or foreclosure proceeds with respect to the Purchased
Mortgage Loan and payments under any guarantees or other contracts relating to the Purchased Mortgage Loan) and (iii) all other “proceeds” as defined in Section 9-102(64) of the UCC related
to the Purchased Mortgage Loan or Mortgage Assets related thereto; provided that Income does not include any escrow withholds or escrow payments for Property Charges. 

“Income Collection Account” means the blocked Seller’s account (under the sole dominion and control of Buyer) with JPM
Chase styled as follows: 

  
 14 

 loanDepot.com 

JPMorgan Chase Secured Party 

Income Collection Account 

“Indemnified Party” is defined in Section 16(b). 

“Indirect” is defined in Section 11(e)(v). 

“Interim Servicing Term” is defined in Section 13(a). 

“Investor Loan” means a Conventional Conforming Loan secured by a single family residence that is not occupied by the
Mortgagor, which has been underwritten by the Approved Takeout Investor who issued a Takeout Commitment that covers it and whose underwriting, Takeout Commitment, appraisal and all related documentation that Seller elects to review are approved by
Seller. 
 “IRC” means the Internal Revenue Code of 1986, as amended from time to time and any successor statute. 

“IRS” means the United States Internal Revenue Service. 

“JPM Chase” means JPMorgan Chase Bank, N.A., a national banking association, in its individual capacity, and its successors
and assigns. 
 “Jumbo Loan” means a Mortgage Loan that conforms to (i) all of the Agency Guidelines’
requirements for a Conventional Conforming Loan except that its original principal amount exceeds the maximum allowed by Agency Guidelines and (ii) the maximum CLTV, maximum DTI and minimum FICO Score criteria specified on Schedule III.

 “Leverage Ratio” means the ratio of a Person’s Debt (including off balance sheet financings) to its Adjusted
Tangible Net Worth. 
 “Lien” means any security interest, mortgage, deed of trust, charge, pledge, hypothecation,
assignment as security for an obligation, deposit arrangement as security for an obligation, encumbrance, lien (statutory or other), preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever,
including any conditional sale or other title retention arrangement, any financing lease arrangement having substantially the same economic effect as any of the foregoing and the security interest evidenced or given notice of by the filing of any
financing statement under the UCC (other than any such financing statement filed for informational purposes only) or comparable law of any jurisdiction. 

“Liquidity” means, at any time, Seller’s unencumbered and unrestricted cash and Cash Equivalents (including the balance
on deposit in the Cash Pledge Account, the Funding Account and the Operating Account, but excluding any restricted cash or cash pledged to third parties) at such time plus, with respect to any Purchased Mortgage Loans then subject to outstanding
Transactions, the excess, if any, of (x) the sum of the maximum Purchase Prices available to Seller for such Purchased Mortgage Loans pursuant to the terms hereof over (y) the Aggregate Purchase Price at such time. 

  
 15 

 “Litigation” means, as to any Person, any material action, lawsuit,
investigation, claim, proceeding, judgment, order, decree or resolution pending or threatened against or affecting such Person or the business, operations, properties or assets of such Person before, or by, any Governmental Authority. 

“Loan Eligibility File” means, with respect to each Mortgage Loan, the following documents: 

(i) if a Government Loan, a valid eligibility certification from VA, FHA or RHS, as applicable; 

(ii) evidence reasonably satisfactory to Buyer that such Mortgage Loan is subject to a valid and effective Hedging Arrangement or to a valid
and binding Takeout Commitment (Buyer may require that Seller provide a copy of the related Takeout Agreement and Seller will provide it unless both (i) such Takeout Agreement expressly either prohibits Seller from doing so or conditions
Seller’s ability to do so upon first obtaining the related Approved Takeout Investor’s consent and (ii) Seller cannot obtain such consent); 

(iii) a copy of (1) the DU/DO/LP approval cover page, or (2) a copy of the related underwriting approval from the Approved Takeout
Investor or, (3) for a Second Home Loan, a copy of the related valid eligibility certificate issued by an Agency or, (4) for an RHS Loan, a copy of the related Conditional Commitment for Single Family Housing Loan Guarantee 1980-18 and (5) such other documents establishing the eligibility for purchase by the related Approved Takeout Investor as Buyer may reasonably require and specify in a written notice given to Seller from time
to time; 
 (iv) if a Nondelegated Jumbo Loan, evidence reasonably satisfactory to Buyer of its underwriting approval by an Approved Takeout
Investor; 
 (v) if a DU Jumbo Loan, evidence reasonably satisfactory to Buyer that the appraisal of the related Mortgaged Property has been
reviewed and accepted by an Approved DU Jumbo Takeout Investor and that its underwriting has been internally approved by Seller; 
 (vi) if,
at any point in the future, (i) Buyer determines that the Truth in Lending Act of 1968, as amended, requires Buyer, as a buyer under a residential mortgage warehousing repurchase facility, to give notice letters to Mortgagors setting forth the
information regarding Buyer as a “new creditor” and the other information specified in Section 404 of The Helping Families Save Their Homes Act of 2009, as amended, and (ii) Buyer gives at least ten (10) Business Days’
written notice to Seller of Buyer’s election that, on a going forward basis, Seller will be responsible for giving such notice letters (it being understood and agreed that unless and until Buyer gives such notice to Seller, Buyer, and not
Seller, will be responsible for giving any such notice letters to Mortgagors and such notice letters will not be included in the Asset Files), unless Buyer has subsequently given Seller another written notice that such notice letters are no longer
required, the Asset File shall include a notice letter (x) in form and substance reasonably acceptable to Buyer, delivered by Seller on behalf of Buyer to the related Mortgagor, setting forth that information and (y) acknowledged in
writing by such Mortgagor; 

  
 16 

 (vii) such additional documents, if any, as shall be reasonably required by Buyer from time
to time by written notice to Seller. 
 “Loan Level Representation” is defined in
Section 12(a)(iii). 

“Loan-to-Value Ratio” or
“LTV” means, for each Mortgage Loan as of the related Purchase Date, a fraction (expressed as a percentage) having as its numerator the original principal amount of the Mortgage Note and as its denominator the lesser of (x) the
sales price of the related Mortgaged Property and (y) either (1) the appraised value of the related Mortgaged Property indicated in the appraisal obtained in connection with the Origination of such Mortgage Loan if an appraisal is required
by the relevant Agency Guidelines or Takeout Investor or (2) the value set forth in the Appraised Value Alternative with respect to those Mortgage Loans for which an appraisal is not required under the relevant Agency Guidelines. 

“Long Aged Loan” means, on any day, a Purchased Mortgage Loan whose Purchase Date was more than seventy-five (75) days
but not more than ninety (90) days before that day. 
 “Low FICO Government Loan” means a Mortgage Loan that is
insured by the FHA or guaranteed by the Department of Veterans Affairs that has a CLTV no greater than 105%, and whose Mortgagor has a FICO Score of 580 or more but less than 620. The term “Low FICO Government Loan” does not include any
Government Loan that is guaranteed by RHS, or a Conventional Conforming Loan or Jumbo Loan. 
 “Manufactured Home” means a
single-family home constructed at a factory and shipped in one or more sections to a housing site. 
 “Margin Amount” means
at any time with respect to any Purchased Mortgage Loan, the amount equal to (a) the applicable Margin Percentage for that Purchased Mortgage Loan at that time multiplied by (b) the Market Value of that Purchased Mortgage Loan at
that time. 
 “Margin Deficit” is defined in Section 4(a). 

“Margin Percentage” is defined in the Side Letter. 

“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, at any time with respect to any Purchased Mortgage Loan,
its fair market value at such time as determined by Buyer in its sole good faith discretion. 
 “Material Adverse Effect”
means any (i) material adverse effect upon the validity, performance or enforceability of any Transaction Document, (ii) material adverse effect on the properties, business or condition, financial or otherwise, of Seller and its
Subsidiaries, on a consolidated basis, or any Guarantor, (iii) material adverse effect upon the ability of Seller to fulfill its obligations under this Agreement or the ability of any Guarantor to fulfill its obligations under its Guaranty, or
(iv) material adverse effect on the value or salability of the Purchased Mortgage Loans subject to this Agreement, taken as a whole, as determined in each case by Buyer in Buyer’s sole good faith discretion. 

  
 17 

 “Materially False Representation” is defined in
Section 12(a)(ii). 
 “MBS” means a mortgage pass-through security, collateralized mortgage
obligation, real estate mortgage investment conduit or other security that (or, as the context requires, securities each of which) is (i) either issued by Seller and fully guaranteed by Ginnie Mae or issued and fully guaranteed as to timely
payment of interest and payment of principal by Fannie Mae or Freddie Mac, (ii) provides for payment by its issuer to its holder of specified principal installments and/or a fixed or floating rate of interest on the unpaid balance and for all
prepayments to be passed through to the holder, (iii) issued in book-entry form and (iv) based on and backed by a Pool, in substantially the principal amount and with substantially the other terms as specified with respect to such MBS in
the related Takeout Commitment. 
 “MERS” means Mortgage Electronic Registration Systems, Inc. and its successors and
assigns. 
 “MERS Designated Mortgage Loan” means a Mortgage Loan that satisfies the definition of the term “MERS
Designated Mortgage Loan” contained in the Electronic Tracking Agreement. 
 “MERS® System” has the meaning given that term in the Electronic Tracking Agreement. 

“MIN” means the eighteen digit MERS Identification Number permanently assigned to each MERS Designated Mortgage Loan. 

“MOM Loan” means a MERS Designated Mortgage Loan that was registered on the
MERS® System at the time of its Origination and for which MERS appears as the record mortgagee or beneficiary on the related Mortgage. 

“Moody’s” means Moody’s Investors Service and any successor. 

“Mortgage” means a mortgage, deed of trust or other security instrument creating a Lien on Mortgaged Property. 

“Mortgage Assets” is defined in Section 6(a). 

“Mortgage Finance Online” means the website maintained by Buyer and used by Seller and Buyer to administer the Transactions,
the notices and reporting requirements contemplated by the Transaction Documents and other related arrangements. 
 “Mortgage
Loan” means a whole mortgage loan or Co-op Loan that is secured by a Mortgage on residential real estate, and includes all of its Servicing Rights. 

“Mortgage Loan Documents” means the Mortgage Note, the Mortgage (or, for Co-op Loans,
the Proprietary Lease, the Stock Certificate and the Recognition Agreement) and all other documents evidencing, securing, guaranteeing or otherwise related to a Mortgage Loan. 

  
 18 

 “Mortgage Note” means the original executed promissory note or other
primary evidence of indebtedness of a Mortgagor on a Mortgage Loan. 
 “Mortgaged Property” means the residential real
estate securing the Mortgage Note, that shall be either (i) in the case of a Mortgage Loan that is not a Co-op Loan, a fee simple estate in the real property located in any state of the United States
(including all buildings, improvements and fixtures thereon and all additions, alterations and replacements made at any time with respect to the foregoing) purchased with the proceeds of the Mortgage Loan or (ii) in the case of a Co-op Loan, the Proprietary Lease and related Co-op Shares. 

“Mortgagor” means the obligor on a Mortgage Note or the grantor or mortgagor on a Mortgage, as the context requires. 

“Nondelegated Jumbo Loan” means a Jumbo Loan for which underwriting authority has not been delegated to Seller by the related
Approved Takeout Investor. 
 “OATI” is an adjective that, when used to modify a type of Mortgage Loan, means that such
Mortgage Loan is covered by a Takeout Commitment issued by an Approved Takeout Investor other than CL (and, for OATI Jumbo Loans, whose Approved Takeout Investor has been approved by Buyer for the purchase of Jumbo Loans). 

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

“Officer’s Certificate” means a certificate signed by a Responsible Officer of Seller and delivered to Buyer. 

“Operating Account” means the blocked Seller’s account (under the sole dominion and control of Buyer) with JPM Chase
styled as follows: 
 loanDepot.com 

JPMorgan Chase Secured Party 

Operating Account 
 Account no.
“            ” 
 “Originate” or
“Origination” means a Person’s actions in taking an application for, underwriting or closing a Mortgage Loan. 

“Origination Date” means the date of the Mortgage Note and the related Mortgage. 

“Outstanding Principal Balance” of a Mortgage Loan means, at any time, the then unpaid outstanding principal balance of such
Mortgage Loan. 
 “Party” means each of Buyer and Seller. 

“Permitted Dividend” means (a) as to any taxable period of Seller for which Seller, if a corporation, makes an
S corporation election, or if a multi-member limited liability company or a partnership, does not makes an election with the Internal Revenue Service to be treated as a

  
 19 

 
corporation, an annual or quarterly distribution necessary to enable each shareholder, partner or member, as applicable, of Seller to pay income taxes attributable to such shareholder,
partner or member resulting solely from such shareholder’s, partner’s or member’s allocated share of income of Seller for such period (“Permitted Tax Distributions”), (b) any cash dividend or other cash
distribution, direct or indirect, on or on account of any shares of Seller’s stock (or equivalent equity interest) and (c) any redemption or other acquisition, direct or indirect, of any shares of Seller’s stock (or equivalent equity
interest) or of any warrants, rights or other options to purchase any shares of Seller’s stock (or equivalent equity interest). 

“Permitted Tax Distributions” is defined in the definition of “Permitted Dividend”. 

“Person” means an individual, partnership, corporation (including a business trust), joint-stock company, limited liability
company, trust, unincorporated association, joint venture, any Governmental Authority or other entity. 
 “Plans” is
defined in Section 10(a)(xviii). 
 “Post-Origination Period” means the period of time between a
Mortgage Loan’s Origination Date and its Repurchase Date. 
 “Price Differential” means: 

(i) with respect to any Purchased Mortgage Loan and for each month (or portion thereof) during which it is subject to an outstanding
Transaction, the sum of the results of the following calculation for each day during that month (or portion thereof): the Pricing Rate for that Purchased Mortgage Loan on such day multiplied by the outstanding Purchase Price for that
Purchased Mortgage Loan on such day divided by 360; and 
 (ii) with respect to any Transaction hereunder, for each month (or portion
thereof) during which that Transaction is outstanding, the sum of the results of the following calculation for each day during that month (or portion thereof): the weighted average of the applicable Pricing Rates for all Purchased Mortgage
Loans subject to that Transaction on such day multiplied by the sum of the outstanding Purchase Prices for all Purchased Mortgage Loans subject to that Transaction on such day divided by 360. 

“Pricing Rate” means, for any Purchased Mortgage Loan or Transaction, the per annum percentage rate (or rates) to be applied
to determine the Price Differential, which rate (or rates) shall be determined in accordance with the Side Letter. 
 “Prime
Rate” means the rate of interest per annum announced from time to time by Buyer as its prime rate. The Prime Rate is a variable rate and each change in the Prime Rate is effective from and including the date the change is announced as being
effective. THE PRIME RATE IS A REFERENCE RATE AND MAY NOT BE BUYER’S LOWEST RATE. 
 “Privacy Requirements” means
(a) Title V of the GLB Act, (b) any applicable federal regulations implementing such act codified at 12 CFR Parts 40, 216, 332 and 573, (c) any of the Interagency Guidelines Establishing Standards For Safeguarding Customer
Information codified at 12 CFR Parts 30, 168, 170, 208, 211, 225, 263, 308 and 364 that are applicable and (d) any other applicable federal, state and local laws, rules, regulations and orders relating to the privacy and security of
Seller’s Customer Information, as such statutes and such regulations, guidelines, laws, rules and orders (the “Safeguards Rules”) may be amended from time to time. 

  
 20 

 “Property Charges” means all taxes, fees, assessments, water, sewer and
municipal charges (general or special) and all insurance premiums, leasehold payments or ground rents. 
 “Proprietary
Lease” is defined in the Custodial Agreement. 
 “Purchase Date” means the date with respect to each Transaction
on which the Mortgage Loans subject to such Transaction are transferred by Seller to Buyer hereunder. 
 “Purchase Price”
is defined in the Side Letter. 
 “Purchased Mortgage Loans” means, with respect to any Transaction, the Mortgage Loans
sold by Seller to Buyer in such Transaction (each of which sales shall be on a servicing released basis, provided that Seller shall interim service such Mortgage Loans for Buyer as provided in Section 13(a)), including any
Additional Purchased Mortgage Loans delivered pursuant to Section 4(a) and excluding any Purchased Mortgage Loans repurchased by Seller or transferred to Seller. Except where the context requires otherwise, the term refers
to all Purchased Mortgage Loans under all outstanding Transactions. 
 “Qualified Subordinated Debt” means, with respect to
any Person, all unsecured Debt of such Person, for borrowed money, that is, by its terms or by the terms of a subordination agreement (which terms shall have been approved by Buyer), in form and substance satisfactory to Buyer, effectively
subordinated in right of payment to all other present and future obligations and all indebtedness of such Person, of every kind and character, owed to Buyer and which terms or subordination agreement, as applicable, include, among other things,
standstill and blockage provisions approved by Buyer, restrictions on amendments without the consent of Buyer, non-petition provisions and maturity date or dates for any principal thereof at least 395 days
after the date hereof. 
 “Recognition Agreement” is defined in the Custodial Agreement. 

“Remittance Date” means the 15th day of each month, or if such day is
not a Business Day, the next succeeding Business Day. 
 “REO Property” means Mortgaged Property acquired by Seller through
foreclosure or deed in lieu of foreclosure. 
 “Repurchase Date” means, with respect to each Transaction, the date on which
Seller is required to repurchase (or the earlier date, if any, on which Seller electively repurchases) from Buyer the Purchased Mortgage Loans that are subject to that Transaction. The Repurchase Date shall occur (i) for Transactions terminable
on a date certain, on the date specified in the related Confirmation, (ii) for Transactions terminable on demand, the earlier to occur of (a) the date specified in Buyer’s demand or (b) the date specified in the related
Confirmation on which Seller is required to repurchase the Purchased Mortgage Loans if no demand is sooner made, (iii) for repurchases of Defective Mortgage Loans under Section 3(k), the Early Repurchase Date or (iv)

  
 21 

 
only for Purchased Mortgage Loans that Seller notifies Buyer of Seller’s election to repurchase before Buyer, after the occurrence and during the continuance of an Event of Default, has,
pursuant to Section 12(d), either (x) given Seller credit for such Purchased Mortgage Loans or (y) elected to sell them, on the date Seller pays Buyer the Repurchase Prices for such Purchased Mortgage Loans;
provided that in any case, the Repurchase Date with respect to each Transaction shall occur no later than the earlier of (1) the Termination Date and (2) (i) for each Aged Loan, seventy-five (75) days after its Purchase Date,
(ii) for each Long Aged Loan, ninety (90) days after its Purchase Date or (iii) or for each other type of Purchased Mortgage Loan, forty-five (45) days after its Purchase Date. 

“Repurchase Price” means, for each Purchased Mortgage Loan on any day, the price for which such Purchased Mortgage Loan is to
be resold by Buyer to Seller upon termination of the Transaction in which Buyer purchased it (including a Transaction terminable on demand), which is (x) its Purchase Price minus (y) the sum of all cash, if any, theretofore paid by Seller
into the Operating Account to cure the portion of any Margin Deficit that Buyer, using any reasonable method of allocation, attributes to such Purchased Mortgage Loan plus (z) its accrued and unpaid Price Differential on that day;
provided that such accrued Price Differential may be paid on a day other than the Repurchase Date in accordance with the terms of this Agreement. 

“Required Amount” is defined in Section 5(b). 

“Requirement(s) of Law” means any law, treaty, ordinance, decree, requirement, order, judgment, rule, regulation or licensing
requirement (or interpretation of any of the foregoing) of any Governmental Authority having jurisdiction over Buyer, Seller, any Guarantor or any Approved Takeout Investor, any of their respective Subsidiaries or their respective properties or any
agreement by which any of them is bound, as the same may be supplemented, amended, recodified or replaced from time to time, including: 
  

	 	•	 	 Equal Credit Opportunity Act and Regulation B promulgated thereunder; 

 

	 	•	 	 Fair Housing Act; 

  

	 	•	 	 Gramm-Leach-Bliley Act and Regulation P promulgated thereunder; 

 

	 	•	 	 Fair Credit Reporting Act and Regulation V promulgated thereunder; 

 

	 	•	 	 Home Mortgage Disclosure Act and Regulation C promulgated thereunder; 

 

	 	•	 	 Federal Unfair, Deceptive, or Abusive Acts or Practices laws (including Section 5 of the Federal Trade
Commission Act (the “FTC Act”)); 

  

	 	•	 	 Truth In Lending Act and Regulation Z promulgated thereunder; 

 

	 	•	 	 Qualified Mortgage/Ability to Repay Rule; 

 

	 	•	 	 Real Estate Settlement Procedures Act and Regulation X promulgated thereunder; 

  
 22 

	 	•	 	 Home Ownership and Equity Protection Act and applicable portions of Regulation Z promulgated thereunder;

  

	 	•	 	 Electronic Fund Transfer Act and Regulation E promulgated thereunder; 

 

	 	•	 	 National Flood Insurance Act, Flood Disaster Protection Act of 1973, National Flood Insurance Reform Act of 1994,
Biggert-Waters Flood Insurance Act of 2012, Homeowner Flood Insurance Affordability Act (the “Flood Laws”); 

  

	 	•	 	 Servicemembers Civil Relief Act; 

 

	 	•	 	 rules, regulations and guidelines promulgated under any of such statutes; and 

 

	 	•	 	 any applicable state or local equivalent or similar laws and regulations. 

“Rescission” means the Mortgagor’s exercise of any right to rescind the related Mortgage Note and related documents
pursuant to applicable law. 
 “Request for Documents Release” is defined in the Custodial Agreement. 

“Responsible Officer” means, as to any Person, the chief executive officer or, with respect to financial matters, the chief
financial officer, chief account officer or controller of such Person; provided that in the event any such officer is unavailable at any time he or she is required to take any action hereunder, “Responsible Officer” means any
officer authorized to act on such officer’s behalf as demonstrated by a certificate of corporate resolution or similar document and an incumbency certificate. 

“RHS” means the Rural Housing Service of the Rural Development Agency of the United States Department of Agriculture or any
successor. 
 “RHS Loan” means a Government Loan guaranteed by RHS. 

“Safeguards Rules” is defined in the definition of “Privacy Requirements”. 

“Sanctions” means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by
the U.S. government, including those administered by OFAC or the U.S. Department of State. 
 “Sanctioned Country” means,
at any time, a country, region or territory that is then the subject or target of any Sanctions (at the time of this Agreement, Cuba, Iran, North Korea, Sudan, Syria and Crimea). 

“Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons
maintained by OFAC or the U.S. Department of State, (b) any Person operating, organized or resident in a Sanctioned Country or (c) another Person controlled by any such Person. 

  
 23 

 “Second Home Loan” means an Eligible Mortgage Loan that is a Conventional
Conforming Loan secured by a single family residence that is occupied by the Mortgagor but is not the Mortgagor’s principal residence and whose underwriting, Takeout Commitment, appraisal and all related documentation that Buyer elects to
review are approved by Buyer. 
 “S&P” means Standard and Poor’s Ratings Services, a division of The McGraw-Hill
Companies, Inc., and any successor. 
 “SEC” is defined in Section 27(a). 

“Seller’s Accounts” means each of the Funding Account and the Operating Account. 

“Seller’s Customer” means any natural person who has applied to Seller for a financial product or service, has obtained
any financial product or service from Seller or has a Mortgage Loan that is serviced or subserviced by Seller. 
 “Seller’s
Customer Information” means any information or records in any form (written, electronic or otherwise) containing a Seller’s Customer’s personal information or identity, including such Seller’s Customer’s name, address,
telephone number, loan number, loan payment history, delinquency status, insurance carrier or payment information, tax amount or payment information and the fact that such Seller’s Customer has a relationship with Seller. 

“Servicing File” means with respect to each Mortgage Loan, all documents relating to its servicing, which may consist of
(i) copies of the documents contained in the related Credit File and Loan Eligibility File, as applicable, (ii) the credit documentation relating to the underwriting and closing of such Mortgage Loan(s), (iii) copies of all related
documents, correspondence, notes and all other materials of any kind, in each case related to the servicing of such Mortgage Loan, (iv) copies of computer tapes, proof of insurance coverage, insurance policies, appraisals, other closing
documentation and payment history records, (v) all other information or materials necessary or required to board such Mortgage Loan onto the applicable servicing system and (vi) all other related documents required to be delivered pursuant
to any of the Transaction Documents. 
 “Servicing Records” means all servicing records created and/or maintained by Seller
in its capacity as interim servicer for Buyer with respect to a Purchased Mortgage Loan, including any and all servicing agreements, files, documents, records, databases, computer tapes, copies of computer tapes, proof of insurance coverage,
insurance policies, appraisals, other closing documentation, payment history records and any other records relating to or evidencing its servicing. 

“Servicing Rights” means all rights and interests of Seller or any other Person, whether contractual, possessory or
otherwise, to service, administer and collect Income with respect to Mortgage Loans, and all rights incidental thereto. 

  
 24 

 “Settlement Agent” means a title company, title insurance agent, escrow
company or attorney that is reasonably acceptable to Buyer and that is (i) unaffiliated with Seller, (ii) a division, subsidiary, licensed agent or an authorized officer or authorized agent of a title insurance underwriter reasonably
acceptable to Buyer and (iii) insured against errors and omissions in such amounts and covering such risks as are at all times customary for its business and with industry standards, to which the proceeds of any purchase of a Mortgage Loan are
to be wired in accordance with local law and practice in the jurisdiction where such Mortgage Loan is being Originated. 
 “Side
Letter” means the letter agreement dated as of the date hereof between Buyer and Seller, as supplemented, amended or restated from time to time. 

“SIPA” is defined in Section 27(a). 

“Subservicer” is defined in Section 13(a)(ii). 

“Subservicer Instruction Letter” means a letter agreement between Seller and each Subservicer substantially in the form of
Exhibit G-1 (or, for Cenlar FSB as Subservicer, in the form of Exhibit G-2) or such other form as shall be reasonably acceptable to Buyer. 

“Subservicing Agreement” is defined in Section 13(a)(ii). 

“Subsidiary” means, with respect to any Person, any corporation, association or other business entity in which more than
fifty percent (50%) of the total voting power or shares of stock (or equivalent equity interest) entitled to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by such Person
or one or more of the other Subsidiaries of such Person or a combination thereof. 
 “Successor Servicer” is defined in
Section 13(e). 
 “Takeout Agreement” means an agreement between an Approved Takeout Investor and
Seller, pursuant to which such Approved Takeout Investor has committed to purchase from Seller certain of the Purchased Mortgage Loans, as such agreement may be supplemented, amended or restated from time to time. If any Takeout Agreement is
supplemented, amended or restated in any material respect (other than through ordinary course changes to Takeout Guidelines), Seller shall provide Buyer notice of such supplement, amendment or restatement and Buyer shall have the right to suspend
approval of the Approved Takeout Investor with respect to Takeout Commitments after the effective date thereof until Buyer has received such supplement, amendment or restatement (or a summary thereof) and approved it in writing. 

“Takeout Commitment” means, with respect to each Approved Takeout Investor, the commitment to purchase a Purchased Mortgage
Loan from Seller pursuant to a Takeout Agreement, and that specifies (a) the type of Purchased Mortgage Loan to be purchased, (b) a purchase date or purchase deadline date and (c) a purchase price or the criteria by which the purchase
price will be determined. 
 “Takeout Guidelines” means (i) the eligibility requirements established by the Approved
Takeout Investor that must be satisfied by a Mortgage Loan originator to sell Mortgage Loans to the Approved Takeout Investor and (ii) the specifications that a Mortgage Loan must meet, and the requirements that it must satisfy, to qualify for
the Approved Takeout Investor’s program of Mortgage Loan purchases, as such requirements and specifications may be revised, supplemented or replaced from time to time. 

  
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 “Takeout Value” means, (i) with respect to any Purchased Mortgage Loan
subject to a Takeout Commitment, the price that an Approved Takeout Investor has agreed to pay Seller for such Purchased Mortgage Loan, and (ii) with respect to any Purchased Mortgage Loan subject to a Hedging Arrangement, the weighted average
price of portfolio hedges or forward trades for Mortgage Loans subject to such Hedging Arrangement. 
 “Tangible Net Worth”
means, with respect to any Person on any day, the sum of total shareholders’ or members’ equity in such Person (including capital stock or member interests, additional paid-in capital and retained
earnings, but excluding treasury stock, if any), each as determined in accordance with GAAP on a consolidated basis; provided that, for purposes of this definition, there shall be excluded from assets the following: the aggregate book value
of all intangible assets of such Person (as determined in accordance with GAAP), including goodwill, trademarks, trade names, service marks, copyrights, patents, licenses, franchises, capitalized servicing rights, excess capitalized servicing
rights, each to be determined in accordance with GAAP consistent with those applied in the preparation of such Person’s financial statements; advances or loans to shareholders or Affiliates, advances or loans to employees (unless such advances
are against future commissions), unconsolidated investments in Affiliates, deferred tax assets, assets pledged to secure any liabilities not included in the Debt of such Person and any other assets that would be deemed by any Agency to be
unacceptable in calculating tangible net worth. 
 “Termination Date” means the earliest of (i) the Business Day, if
any, that Seller designates as the Termination Date by written notice given to the Buyer at least thirty (30) days before such date, (ii) the Business Day, if any, that Buyer designates as the Termination Date by written notice given to
the Seller at least sixty (60) days before such date, (iii) the date of declaration of the Termination Date pursuant to Section 12(b)(i) and (iii) three hundred sixty-four (364) days after the date
hereof. 
 “Third Party Originator” means any Person other than an employee of Seller who solicits, procures, packages,
processes or performs any other Origination function with respect to a Mortgage Loan. 
 “TPO Loan” means a Mortgage Loan
that has been solicited, procured, packaged, processed or otherwise Originated by a Third Party Originator. 

“Transaction” is defined in Section 1. 

“Transaction Documents” means this Agreement (including all exhibits and schedules attached hereto), each Confirmation, the
Side Letter, each Guaranty, the Custodial Agreement, the Electronic Tracking Agreement, each Takeout Agreement and Takeout Commitment, each Asset Schedule and Exception Report, Trust Receipt, Bailee Letter, Attorney Bailee Letter and Request for
Documents Release, and each deposit account agreement, other agreement, document or instrument executed or delivered in connection with this Agreement or any other Transaction Document, in each case as supplemented, amended, restated or replaced
from time to time. 

  
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 “Transfer” is defined in Section 11(n). 

“Trust Receipt” is defined in the Custodial Agreement. 

“UCC” means the Uniform Commercial Code, as amended from time to time, as in effect in the relevant jurisdiction. 

“VA” means the U.S. Department of Veterans Affairs or any successor department or agency. 

“Wet Funding” means the purchase by Buyer of a Mortgage Loan that is Originated by Seller on the Purchase Date under escrow
arrangements satisfactory to Buyer pursuant to which Seller is permitted to use the Purchase Price proceeds to close the Mortgage Loan before Custodian’s receipt of the complete Asset File. 

“Wet Delivery Deadline” means, with respect to any Wet Loan, the sixth (6th) Business Day following the Origination Date for
such Wet Loan (counting the Origination Date as the first Business Day), or such later Business Day as Buyer, in its sole discretion, may specify from time to time. 

“Wet Loan” means a Mortgage Loan that Seller is selling to Buyer on its Origination Date and accordingly for which the
completed Asset File will not have been delivered to Custodian before funding of the related Purchase Price. 
 (b) Interpretation.
Headings are for convenience only and do not affect interpretation. The following rules of this Section 2(b) apply unless the context requires otherwise. The singular includes the plural and conversely. A gender includes
all genders. Where a word or phrase is defined, its other grammatical forms have a corresponding meaning. Any capitalized term used in the Side Letter and used, but not defined differently, in this Agreement has the same meaning here as there. A
reference in this Agreement to a Section, Exhibit or Schedule is, unless otherwise specified, a reference to a Section of, or an Exhibit or Schedule to, this Agreement. “Indorse” and correlative terms used in the Uniform Commercial Code
may be spelled with an initial “e” instead of “i”. A reference to a party to this Agreement or another agreement or document includes the party’s successors and permitted substitutes or assigns. A reference to an agreement
or document is to the agreement or document as supplemented, amended, novated, restated or replaced, except to the extent prohibited by any Transaction Document. A reference to legislation or to a provision of legislation includes a modification or re-enactment of it, a legislative provision substituted for it and a regulation or statutory instrument issued under it. A reference to writing includes a facsimile or electronic transmission and any other means
that permits the recipient to reproduce words in a tangible and visible form. Delivery of an executed counterpart of a signature page of this Agreement or any other Transaction Document by telecopy, emailed pdf or any other electronic means that
reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Agreement. The words “execution,” “signed,” 

  
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“signature,” “delivery,” and words of like import in or relating to any document to be signed in connection with this Agreement and the transactions contemplated hereby shall
be deemed to include Electronic Signatures, deliveries or the keeping of records in electronic form, each of which shall have the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of
a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records
Act or any other similar state laws based on the Uniform Electronic Transactions Act. A reference to conduct includes an omission, statement or undertaking, whether or not in writing. An Event of Default exists until it has been waived in writing by
the appropriate Person or Persons or has been timely cured. The words “hereof”, “herein”, “hereunder” and similar words refer to this Agreement as a whole and not to any particular provision of this Agreement. The term
“including” and correlative terms are not limiting and mean “including without limitation”, whether or not that phrase is stated. 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”. If a day for payment or performance
specified by, or determined in accordance with, the provisions of this Agreement is not a Business Day, then the payment or performance will instead be due on the Business Day next following that day. This Agreement may use several different
limitations, tests or measurements to regulate the same or similar matters; all such limitations, tests and measurements are cumulative and each shall be performed in accordance with its terms. Except as otherwise expressly provided herein, all
terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided that, if either Seller or Buyer gives notice to the other of them that it requests an amendment to any provision
hereof to eliminate the effect of any change occurring after the effective date of this Agreement in GAAP or in its application on the operation of such provision, whether any such notice is given before or after such change in GAAP or in its
application, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance
herewith. Unless otherwise specifically provided, all accounting calculations shall be made on a consolidated basis. Except where otherwise provided in this Agreement, references herein to “fiscal year” and “fiscal quarter” refer
to such fiscal periods of the Seller. Except where otherwise provided in this Agreement, any calculation by the Buyer or an authorized officer of the Buyer or any of its Affiliates provided for in this Agreement that is made in good faith and in the
manner provided for in this Agreement shall be conclusive and binding on the parties in the absence of manifest error. A reference to an agreement includes a security agreement, guarantee, agreement or legally enforceable arrangement, whether or not
in writing. A reference to a document includes an agreement (as so defined) in writing or a certificate, notice, instrument or document or any information recorded on a computer drive or other electronic media form. Where Seller is required by this
Agreement to provide any document to Buyer (other than this Agreement including its exhibits and schedules, the Side Letter, the Electronic Tracking Agreement, the Guaranty and their supporting secretary’s or company certificates, hard copies
of each of which shall be provided to Buyer), such document shall be provided in electronic form unless Buyer requests that it be provided in hard copy form, in which event Seller will provide it in hard copy form. This Agreement and the other
Transaction Documents are the result of negotiations between Buyer and Seller (and Seller’s 

  
 28 

 
related parties) and are the product of all parties. In the interpretation of this Agreement and the other Transaction Documents, no rule of construction shall apply to disadvantage one party on
the ground that such party originated, proposed, presented or was involved in the preparation of any particular provision of this Agreement or of any other Transaction, or of this Agreement or such other Transaction Document itself. Seller and Buyer
may be party to other mutual agreements and nothing in this Agreement shall be construed to restrict or limit any right or remedy under any such other agreement, and nothing in any such other agreement shall be construed to restrict or limit any
right or remedy under this Agreement, except to the extent, if any, specifically provided herein or therein. Except where otherwise expressly stated, the Buyer may (i) give or withhold, or give conditionally, approvals and consents required or
permitted to be made by Buyer pursuant to the Transaction Documents, (ii) be satisfied or unsatisfied, and (iii) form opinions and make determinations required or permitted to be made by Buyer pursuant to the Transaction Documents, in each
case in Buyer’s sole and absolute discretion. A reference to “good faith” means good faith as defined in §1-201(20) of the UCC as in effect in the State of New York. Any requirement of good
faith, reasonableness, discretion or judgment by Buyer shall not be construed to require Buyer to request or await receipt of information or documentation not immediately available from or with respect to Seller or any other Person or the Purchased
Mortgage Loans themselves. Buyer may waive, relax or strictly enforce any applicable deadline at any time and to such extent as Buyer shall elect, and no waiver or relaxation of any deadline shall be applicable to any other instance or application
of that deadline or any other deadline, and no such waiver or relaxation, no matter how often made or given, shall be evidence of or establish a custom or course of dealing different from the express provisions and requirements of this Agreement.

 3. Initiation; Confirmations; Termination 

(a) Initiation. Any agreement to enter into a Transaction shall be made in writing at the initiation of Seller through Mortgage Finance
Online before the Termination Date. If Seller desires to enter into a Transaction, Seller shall deliver to Buyer no earlier than three (3) Business Days before, and no later than 4:30 p.m. (Eastern time) on, the proposed Purchase Date, a
request for Buyer to purchase an amount of Eligible Mortgage Loans on such Purchase Date (Buyer agrees to consider entering into Transactions on the proposed Purchase Date that are requested between 4:30 p.m. and 6:00 p.m. (Eastern time), but may
elect to defer its (in all cases discretionary) decision whether to enter into them until the next Business Day). All such purchases shall be on a servicing released basis and shall include the Servicing Rights with respect to such Eligible Mortgage
Loan. Such request shall state the Purchase Price and include a completed Confirmation with an attached Asset Schedule listing the Mortgage Loans that Seller proposes to sell to Buyer, for Buyer to issue to confirm Buyer’s acceptance of the
proposed Transaction. 
 (b) Purchase by Buyer. Subject to the terms of the Side Letter and satisfaction of the conditions precedent
set forth in this Section 3 and in Section 7, on the requested Purchase Date for each Transaction, Buyer shall transfer to Seller or its designee — for a newly Originated Eligible Mortgage
Loan, by transferring funds to the designated Settlement Agent — an amount equal to the Purchase Price for purchase of each Eligible Mortgage Loan that is the subject of such Transaction on that Purchase Date, less any amounts to be netted
against such Purchase Price in accordance with the Transaction terms. The transfer of funds to the Settlement Agent to 

  
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be used to fund the Mortgage Loan, and if applicable, the netting of amounts for value, on the Purchase Date for any Transaction will constitute full payment by Buyer of the Purchase Price for
such Mortgage Loan. Within seven (7) Business Days following the Purchase Date, Seller shall (i) take such steps as are necessary and appropriate to effect the transfer to Buyer on the
MERS® System of the Purchased Mortgage Loans so purchased, and to cause Buyer to be designated as “Interim Funder” on the
MERS® System with respect to each such Purchased Mortgage Loan and (ii) in the case of a Wet Funding, deliver all remaining items of the related Asset File to Custodian.
Notwithstanding anything to the contrary in this Agreement or any other Transaction Document, Buyer shall have no obligation to enter into any Transaction either before, on or after the Termination Date. Seller may (i) initially request less
than one hundred percent (100%) of the Purchase Price for any one or more Purchased Mortgage Loans, (ii) repay part of the Purchase Price therefor to Buyer or (iii) both, and may subsequently request that Buyer fund (or re-fund) the balance of the Purchase Price to Seller, and in either case so long as both (x) no Default or Event of Default has occurred and is continuing, and (y) Buyer elects, in the exercise of its sole
discretion, to do so, Buyer will fund (or re-fund) so much of such balance as Seller shall request. 

(c) Confirmations. The Confirmation for each Transaction shall (i) include the Asset Schedule with respect to the Mortgage Loans
subject to such Transaction, (ii) identify Buyer and Seller and (iii) specify (A) the Purchase Date, (B) the Purchase Price, (C) the Repurchase Date, (D) the Pricing Rates applicable to the Transaction and (E) any
additional terms or conditions of the Transaction mutually agreeable to Buyer and Seller. In the event of any conflict between the terms of a Confirmation that has been affirmatively accepted by Buyer and this Agreement, such accepted Confirmation
shall prevail. 
 (d) Failed Fundings. Seller agrees to report to Buyer by facsimile transmission or electronic mail as soon as
practicable, but in no event later than two (2) Business Days after each Purchase Date, any Mortgage Loans that failed to be funded to the related Mortgagor, otherwise failed to close for any reason or failed to be purchased hereunder. Seller
further agrees to (i) return, or cause the Settlement Agent to return, to the Funding Account, for refunding to Buyer, the portion of the Purchase Price allocable to such Mortgage Loans as soon as practicable, but in no event later than two
(2) Business Days after the related Purchase Date, and (ii) indemnify Buyer for any loss, cost or expense incurred by Buyer as a result of the failure of such Mortgage Loans to close or to be delivered to Buyer. 

(e) Accrual and Payment of Price Differential. The Price Differential for each Transaction shall accrue during the period commencing on
(and including) the day when the Purchase Price is transferred into the Funding Account (or otherwise paid to Seller) for such Transaction and ending on (but excluding) the day when the Repurchase Price is paid to Buyer. Accrued Price Differential
for each Purchased Mortgage Loan shall be due and payable (i) on each Remittance Date and (ii) when any Event of Default has occurred and is continuing, on demand. 

  
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 (f) Repurchase Required. Seller shall repurchase from Buyer Purchased Mortgage Loans
conveyed to Buyer on or before each related scheduled Repurchase Date and may electively sooner repurchase Purchased Mortgage Loans. Subject to Buyer’s making such Purchased Mortgage Loans available to Seller, Seller is obligated to obtain the
Purchased Mortgage Loans from Custodian at Seller’s expense on the related Repurchase Date. 
 (g) Termination of Transaction by
Repurchase; Transfer of Repurchased Mortgage Loans. On the Repurchase Date, termination of the Transaction will be effected by resale by Buyer to Seller or its designee of the Purchased Mortgage Loans on a servicing released basis against
Seller’s submission to Buyer of a Completed Repurchase Advice, all in form and substance satisfactory to Buyer. After receipt of the payment of the Repurchase Price from Seller, Buyer shall transfer such Purchased Mortgage Loans to Seller or
its designee and Custodian and Buyer shall deliver to Seller or its designee all Mortgage Loan Documents, as well as all Credit Files, Asset Files and Servicing Files, if any, previously delivered to Custodian or Buyer and take such steps as are
necessary and appropriate to effect the transfer of the Purchased Mortgage Loan to Seller or its designee on the MERS® System. All such transfers to Seller or its designee are and shall
be without recourse and without any of the transfer warranties of UCC §3-417 or other warranty, express or implied. 

(h) No Obligation to Transfer Purchased Mortgage Loans after Buyer’s Section 12(d) Election. Notwithstanding the
foregoing or any other provision to the contrary in this Agreement or any other Transaction Document, Buyer shall not be obligated to transfer any Purchased Mortgage Loans to Seller or any designee of Seller if, pursuant to
Section 12(d) after an Event of Default, Buyer has elected either to sell them or to give Seller credit for them. 

(i) Completed Repurchase Advice. If Buyer receives the Completed Repurchase Advice with respect to a Purchased Mortgage Loan at or
before 4:00 p.m. (Eastern time) on any Business Day, then the Repurchase Date for that Purchased Mortgage Loan will be that same day. If Buyer receives the Completed Repurchase Advice with respect to any Purchased Mortgage Loan after 4:00 p.m.
(Eastern time) on any Business Day, then the Repurchase Date for that Purchased Mortgage Loan will be the next Business Day (Buyer agrees to consider completing a repurchase on the proposed Repurchase Date that are requested between 4:00 p.m. and
6:00 p.m. (Eastern time), but may elect to defer it to the next Business Day). In connection with any repurchase pursuant to a Completed Repurchase Advice, Buyer will debit the Funding Account and the Operating Account, if applicable, for the amount
of the Repurchase Price (less any amount of Price Differential to be paid on the next Remittance Date). Without limiting Seller’s obligations hereunder, at any time after the occurrence and during the continuance of a Default or an Event of
Default, except for repurchases of individual Mortgage Loans or pools of Mortgage Loans being sold to Approved Takeout Investors, Seller shall not be permitted to repurchase less than all of the Purchased Mortgage Loans without the prior written
consent of Buyer, which may be granted or withheld in Buyer’s sole discretion. 
 (j) Reliance. 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. 
 (k) Defective Mortgage Loans. 

  
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 (i) If, after Buyer purchases a Mortgage Loan, Buyer determines in good faith or receives
notice (whether from Seller or otherwise) that a Purchased Mortgage Loan is (or has become) a Defective Mortgage Loan, Buyer shall promptly notify Seller, and Seller shall repurchase such Purchased Mortgage Loan at the Repurchase Price on the Early
Repurchase Date (as such term is defined below). 
 (ii) If Seller becomes obligated to repurchase a Mortgage Loan pursuant to
Section 3(k)(i), Buyer shall promptly give Seller notice of such repurchase obligation and a calculation of the Repurchase Price therefor. On the next Business Day after Seller receives such notice (such day, the
“Early Repurchase Date”), Seller shall repurchase the Defective Mortgage Loan by paying Buyer the Repurchase Price therefor, and shall submit a Completed Repurchase Advice. Buyer is authorized to charge any of Seller’s Accounts
for such amount unless the Parties have agreed in writing to a different method of payment and Seller has paid such amount by such agreed method. If Seller’s Accounts do not contain sufficient funds to pay in full the amount due Buyer under
this Section 3(k)(ii), or if the amount due is not paid by any applicable alternative method of payment previously agreed to by the Parties, Seller shall promptly deposit funds in the Operating Account sufficient to pay
such amount due Buyer and notify Buyer of such deposit. After receipt of the payment of the Repurchase Price therefor from Seller, Buyer shall transfer such Purchased Mortgage Loans to Seller or its designee and deliver, or cause to be delivered, to
Seller or such designee all documents for such Mortgage Loans (including, without limitation, all Mortgage Loan Documents for such Mortgage Loans), as well as the Credit File, Asset File and Servicing File, if any, for such Mortgage Loans, that were
previously delivered to Buyer or Custodian and take such steps as are necessary and appropriate to effect the transfer of such Mortgage Loans to Seller on the MERS® System. 

4. Margin Maintenance 
 (a) Margin
Deficit. If at any time the sum of the Margin Amounts of all Purchased Mortgage Loans then subject to Transactions is less than the sum of their Repurchase Prices, a margin deficit (“Margin Deficit”) will exist. If at any time
either (i) the Margin Deficit exceeds Two Hundred Fifty Thousand Dollars ($250,000) or (ii) any Default or Event of Default has occurred and is continuing, Buyer, by notice to Seller (a “Margin Call”), may require Seller
to transfer to Buyer (x) cash, or (y) if Buyer is willing to accept them in lieu of cash, additional Eligible Mortgage Loans reasonably acceptable to Buyer (“Additional Purchased Mortgage Loans”), or (z) a
combination, to the extent (if any) acceptable to Buyer, of cash and Additional Purchased Mortgage Loans, so that immediately after such transfer(s) the sum of (i) such cash, if any, so transferred to Buyer plus (ii) the aggregate of the
Margin Amounts of all Purchased Mortgage Loans for all Transactions outstanding at that time, including any such Additional Purchased Mortgage Loans, will be at least equal to the sum of the Repurchase Prices of all Purchased Mortgage Loans then
subject to outstanding Transactions. 
 (b) Margin Maintenance. If the notice to be given by Buyer to Seller under
Section 4(a) is given at or before 11:00 a.m. (Eastern time) on a Business Day, Seller shall transfer cash and/or, if acceptable to Buyer, Additional Purchased Mortgage Loans to Buyer before 6:00 p.m. (Eastern time) on
the date of such notice, and if such notice is given after 11:00 a.m. (Eastern time), Seller shall transfer such cash and/or Additional Purchased Mortgage Loans before 10:30 a.m. (Eastern time) on the Business Day following the date of
such notice. 

  
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All cash required to be delivered to Buyer pursuant to this Section 4(b) shall be deposited by Seller into the Operating Account and, provided that no Event of Default
has occurred and is continuing, shall be held by Buyer in the Operating Account as security for the Obligations or, at Buyer’s option, applied by Buyer to reduce pro rata the Repurchase Prices of all Purchased Mortgage Loans that are then
subject to outstanding Transactions. Following the occurrence and during the continuance of any Event of Default, any such cash may be applied to reduce the Repurchase Price of such Purchased Mortgage Loans as Buyer shall select, with the amount to
be applied to the Repurchase Price of any particular Purchased Mortgage Loan to be determined by Buyer, using such reasonable method of allocation as Buyer shall elect in its sole discretion at the time. Buyer’s election, in its sole and
absolute discretion, 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 other time a Margin Deficit exists (or still exists). 

(c) Margin Excess. If on any day after Seller has transferred cash or Additional Purchased Mortgage Loans to Buyer pursuant to
Section 4(b), the sum of (i) the cash paid to Buyer and (ii) the aggregate of the Margin Amounts of all Purchased Mortgage Loans for all Transactions at that time, including any such Additional Purchased Mortgage
Loans, exceeds the sum of the Repurchase Prices of all Purchased Mortgage Loans then subject to outstanding Transactions by more than Two Hundred Fifty Thousand Dollars ($250,000), then at the request of Seller, Buyer shall return a portion of the
cash or Additional Purchased Mortgage Loans to Seller so that the remaining sum of (i) and (ii) does not exceed the sum of the Repurchase Prices of all Purchased Mortgage Loans then subject to outstanding Transactions; provided that the
sum of the cash plus the value of Additional Purchased Mortgage Loans returned shall be strictly limited to an amount, after the return of which, no Margin Deficit will exist. 

(d) Market Value Determinations. Buyer may determine the Market Value of any or all Purchased Mortgage Loans from time to time and with
such frequency (which, for the avoidance of doubt, may be daily), and taking into consideration such factors, as it may elect in its sole good faith discretion, including current market conditions and the fact that the Purchased Mortgage Loans may
be sold or otherwise disposed of under circumstances where Seller is in default under this Agreement; provided that a Market Value of zero shall be assigned to any Purchased Mortgage Loan that, at the time of determination, is not an Eligible
Mortgage Loan. Buyer’s determination of Market Value of Purchased Mortgage Loans will be made using Buyer’s customary methods for determining the price of comparable mortgage loans under the market conditions and Seller’s status
prevailing at the time of determination, will not be equivalent to a determination of the fair market value of the Purchased Mortgage Loans made by obtaining competing bids under circumstances where the bidders have adequate opportunity to perform
customary mortgage loan and servicing due diligence and, if (1) any Default or Event of Default has occurred and is continuing, (2) Buyer in good faith believes that a secondary market Mortgage Loan purchaser would materially discount the
likelihood of realization on any of Seller’s Mortgage Loan transfer warranties or (3) the market for comparable Mortgage Loans is illiquid or otherwise disorderly at the time, such determination will not be equivalent to a determination by
Buyer of the Market Value of the Purchased Mortgage Loans made when, as applicable in the circumstances, (A) the originator/servicer is not in default, (B) the likelihood of realization on Seller’s transfer warranties is not
materially discounted and/or (C) the market for comparable Mortgage Loans is not illiquid or otherwise disorderly. Buyer’s good faith determination of Market Value shall be conclusive upon the Parties. 

  
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 5. Accounts; Income Payments 

(a) Accounts. Seller agrees to establish or cause to be established (i) each of the Accounts at Financial Institution on or before
the date hereof and (ii) the Impound Collection Account and the Income Collection Account if and when required by Buyer for the purposes of Sections 12(b)(iii) and/or 12(b)(iv). Seller’s taxpayer identification number will be
designated as the taxpayer identification number for each Account, the Impound Collection Account and the Income Collection Account, and Seller shall be responsible for reporting and paying taxes on any income earned with respect to the Accounts,
the Impound Collection Account and the Income Collection Account. Each such deposit account shall be under the sole dominion and control of Buyer, and Seller agrees that (i) Seller shall have no right or authority to withdraw or otherwise give
any directions with respect to any of such deposit accounts or the disposition of any funds held in such deposit accounts; provided that Seller may cause amounts to be deposited into any such deposit account at any time, and
(ii) Financial Institution may comply with instructions originated by Buyer directing disposition of the funds in such deposit accounts without further consent of Seller. Only employees of Buyer shall be signers with respect to such deposit
accounts. Pursuant to Section 6, Seller has pledged, assigned, transferred and granted a security interest to Buyer in the Accounts in which Seller has rights or power to transfer rights and all such deposit accounts in
which Seller later acquires ownership, other rights or the power to transfer rights. Seller and Buyer hereby agree that Buyer has “control” of such deposit accounts within the meaning of
Section 9-104 of the UCC. Any provision hereof to the contrary notwithstanding and for the avoidance of doubt, Seller agrees and acknowledges that Buyer is not required to return to Seller funds on
deposit in an Account or the Income Collection Account if any amounts are owed hereunder to Buyer by Seller. 
 (b) Cash Pledge
Account. On or before the date hereof, Seller shall deposit an amount equal to twenty-five basis points (0.25%) of the Facility Amount (the “Required Amount”) into the Cash Pledge Account. Seller shall cause an amount not less
than the Required Amount to be on deposit in the Cash Pledge Account at all times. If on any Remittance Date, the amount on deposit in the Cash Pledge Account is greater than the Required Amount, provided that no Default or Event of Default has
occurred and is continuing, upon Seller’s request such excess will be disbursed to Seller on such Remittance Date after application by Buyer to the payment of any amounts owing by Seller to Buyer on such date. At any time after the occurrence
and during the continuance of an Event of Default, Buyer, in its sole discretion, may apply the amounts on deposit in the Cash Pledge Account in accordance with the provisions of Section 5(f). 

(c) Funding Account. The Funding Account shall be used for fundings of the Purchase Price and the Repurchase Price with respect to each
Purchased Mortgage Loan in accordance with Section 3. Seller and Buyer shall cause all amounts to be paid in respect of the Takeout Commitments to be remitted by the Approved Takeout Investors directly to the Funding
Account without any requirement for any notice to or consent of Seller. On each Repurchase Date that occurs pursuant to Section 3(f) with respect to any Purchased Mortgage Loan, Buyer will apply the applicable amounts on
deposit in the Funding Account to the unpaid Repurchase 

  
 34 

 
Price due to Buyer for such Purchased Mortgage Loan and, unless an Event of Default has occurred and is continuing, Buyer will transfer the remaining balance, if any, in the Funding Account to
the Operating Account. At any time after the occurrence and during the continuance of an Event of Default, Buyer, in its sole discretion, may apply the amounts on deposit in the Funding Account in accordance with the provisions of
Section 5(f). 
 (d) Operating Account. 

(i) The Operating Account shall be used for the purposes of (1) Seller’s payment of Price Differential and any other amounts owing to
Buyer under this Agreement, the Side Letter or any other Transaction Document, (2) Seller’s funding of any shortfall between (x) the proceeds of an Eligible Mortgage Loan being purchased by Buyer that are to be disbursed at its
Origination and (y) the Purchase Price to be paid by Buyer for that Eligible Mortgage Loan, (3) Seller’s payment of any shortfall between the Repurchase Price and the amount received by Buyer from the applicable Approved Takeout
Investor in connection with the repurchase of a Purchased Mortgage Loan pursuant to Section 3(i), (4) Seller’s payments made to satisfy Margin Calls pursuant to Section 4(b) and
(5) disbursements to Seller of any balances remaining after application of funds in the Funding Account to Repurchase Prices due Buyer which are transferred from the Funding Account to the Operating Account pursuant to the third sentence of
Section 5(c). 
 (ii) On or before the fourth (4th) Business Day before each Remittance Date, Buyer will notify
Seller in writing of the Price Differential and other amounts due Buyer on that Remittance Date. On or before the Business Day preceding each Remittance Date, Seller shall deposit into the Operating Account such cash, if any, as shall be required to
make the balance in the Operating Account sufficient to pay all amounts due Buyer on that Remittance Date. On each Remittance Date, Buyer shall withdraw funds from the Operating Account to effect such payment to the extent of funds then available in
the Operating Account. If the funds on deposit in the Operating Account are insufficient to pay the amounts then due Buyer in full, Seller shall pay the deficiency amount on the date such payment is due by wire transfer of such amount to the
Operating Account, and Buyer shall withdraw the funds so deposited to pay such deficiency to the extent of the funds deposited. 
 (iii)
Funds deposited by Seller in the Operating Account to cover the shortfall, if any, referred to in clause (2) of Section 5(d)(i) will be disbursed by Buyer to the Settlement Agent along with the Purchase Price of
the related Eligible Mortgage Loan being purchased by Buyer to fund the Origination of such Mortgage Loan as provided in Section 3(b). 

(iv) At any time after a Margin Call, if Seller fails to satisfy such Margin Call in accordance with the provisions of
Section 4, Buyer may withdraw funds from the Operating Account to pay such Margin Call and shall apply the funds so withdrawn for that purpose to reduce the Repurchase Prices of Purchased Mortgage Loans then subject to
outstanding Transactions as provided in Section 4(b). At any time after the occurrence and during the continuance of an Event of Default, Buyer, in its sole discretion, may apply the amounts on deposit in the Operating
Account in accordance with the provisions of Section 5(f). 

  
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 (v) Unless (1) a Default or an Event of Default has occurred and is continuing or
(2) any amounts are then owing to Buyer or any Indemnified Party under this Agreement or another Transaction Document, on Seller’s request, Buyer will transfer the Operating Account balance to an account designated by Seller. 

(e) Income Collection Account. Pursuant to Section 6, Seller has pledged, assigned and transferred the Income
Collection Account to Buyer and granted Buyer a security interest in the Income Collection Account. No funds other than Income shall be deposited in the Income Collection Account. Where a particular Transaction’s term extends over the date on
which Income is paid by the Mortgagor on any Purchased Mortgage Loan subject to that Transaction, that Income will be the property of Buyer until Seller has paid Buyer the full Repurchase Price in respect of such Transaction. Notwithstanding the
foregoing, and provided no Default or Event of Default has occurred and is continuing and no Margin Deficit then exists, Buyer agrees that Seller or its designee shall be entitled to receive and retain that Income to the full extent it would have
been so entitled if the Purchased Mortgage Loans had not been sold to Buyer; provided that any Income received by Seller while the related Transaction is outstanding shall be deemed to be held by Seller or Subservicer (as the case may be)
solely in trust for Buyer pending the payment of the Repurchase Price in respect of such Transaction and the repurchase of the related Purchased Mortgage Loans, and if a Default or an Event of Default has occurred and is continuing, or a Margin
Deficit exists that Seller has not satisfied in accordance with the provisions of Section 4, Buyer may direct Seller in writing to deposit into the Income Collection Account (or such other account as Buyer may
direct) (i) all Income then held by Seller or Subservicer in respect of Purchased Mortgage Loans subject to outstanding Transactions and (ii) all future Income in respect of Purchased Mortgage Loans subject to new or outstanding
Transactions when received by Seller or any Subservicer, and upon receipt of any such direction, Seller shall immediately cause all such Income then held to be deposited, and all such future Income to be deposited within one (1) Business Day
after its receipt by Seller or Subservicer, into the Income Collection Account or to such other account as Buyer may direct. 
 (f)
Application of Funds. After the occurrence and during the continuance of an Event of Default, at such times as Buyer may direct in its sole discretion, Buyer shall apply all Income and other amounts on deposit in all or any of the Accounts,
other than mortgagors’ actual escrow payments held in any account and required to be used for the payment of Property Charges in respect of any Purchased Mortgage Loan, in the same order and manner as is provided in
Section 12(e) for proceeds of dispositions of Purchased Mortgage Loans not repurchased by Seller. 
 (g)
Seller’s Obligations. The provisions of this Section 5 shall not relieve Seller from its obligations to pay the Repurchase Price on the applicable Repurchase Date and to satisfy any other payment obligation of
Seller hereunder or under any other Transaction Document. 

  
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 6. Security Interest; Assignment of Takeout Commitments 

(a) Security Interest. Although the Parties intend that all Transactions hereunder be absolute sales and purchases and not loans, to
secure the payment and performance by Seller of its obligations, liabilities and indebtedness under each such Transaction and Seller’s obligations, liabilities and indebtedness under this Agreement and the other Transaction Documents, Seller
hereby pledges, assigns, transfers and grants to Buyer a security interest in the Mortgage Assets in which Seller has rights or power to transfer rights and all of the Mortgage Assets in which Seller later acquires ownership, other rights or the
power to transfer rights. “Mortgage Assets” means (i) the Purchased Mortgage Loans with respect to all Transactions hereunder (including, without limitation, all Servicing Rights with respect thereto), (ii) all Servicing
Records, Loan Eligibility Files, Asset Files, Mortgage Loan Documents, including, without limitation, the Mortgage Note and Mortgage, and all of Seller’s claims, liens, rights, title and interests in and to the Mortgaged Property in each case
related to such Purchased Mortgage Loans, (iii) all Liens securing repayment of such Purchased Mortgage Loans, (iv) all Income with respect to such Purchased Mortgage Loans, (v) the Accounts, (vi) the Takeout Commitments and
Takeout Agreements to the extent Seller’s rights thereunder relate to the Purchased Mortgage Loans (excluding, however, any Takeout Commitments or Takeout Agreements that by their express terms prohibit Seller’s assigning, pledging or
granting a security interest in them if and to the extent that such prohibition is not made ineffective by UCC §§ 9-406 or 9-408)), (vii) all Hedging
Arrangements to the extent relating to the Purchased Mortgage Loans (excluding, however, any Hedging Arrangements that by their express terms prohibit Seller’s assigning, pledging or granting a security interest in them if and to the extent
that such prohibition is not made ineffective by UCC §§ 9-406 or 9-408)), (viii) the Income Collection Account, together with all interest on the Income
Collection Account, all modifications, extensions and increases of the Income Collection Account and all sums now or at any time hereafter on deposit in the Income Collection Account or represented by the Income Collection Account and (ix) all
proceeds of the foregoing including, without limitation, all MBS, and the right to have and receive such MBS when issued, that are, in whole or in part, based on, backed by or created from Purchased Mortgage Loans for which the full
Repurchase Price has not been received by Buyer. Seller hereby authorizes Buyer to file such financing statements and amendments relating to the Mortgage Assets as Buyer may deem appropriate, and irrevocably appoints Buyer as Seller’s attorney-in-fact to take such other actions as Buyer deems necessary or appropriate to perfect and continue the Lien granted hereby and to protect, preserve and, subject to
the terms of the Transaction Documents, realize on the Mortgage Assets. Seller shall pay all fees and expenses associated with perfecting such Liens including the cost of filing financing statements and amendments under the UCC, registering each
Purchased Mortgage Loan with MERS and recording assignments of the Mortgages as and when required by Buyer in its sole discretion. 
 (b)
UCC Rights and Remedies. In addition to any other rights and remedies granted to Buyer in the Transaction Documents, Buyer shall have all rights and remedies of a secured party under the New York Uniform Commercial Code or any other
applicable law. Without limiting the generality of the foregoing, at any time an Event of Default has occurred and is continuing, Buyer, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except
any notice required by law referred to below or as otherwise provided under the Transaction Documents) to or upon Seller (all and each of which demands, defenses, advertisements and notices are hereby waived), may in such circumstances
(i) collect, receive, appropriate and realize upon the Mortgage Assets, or any part thereof, (ii) consent to the use by Seller or any Mortgagor of any cash collateral arising in respect of the Mortgage Assets on such terms as Buyer deems
reasonable, and/or (iii) sell, lease, assign give an option or options to purchase or otherwise dispose of and deliver, or acquire by credit bid, the Mortgage Assets or any part thereof (or contract to do any of the foregoing), in one or more

  
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parcels at public or private sale or sales, at any exchange, broker’s board or office of Buyer or elsewhere, upon such terms and conditions as it may deem advisable and at such prices as it
may deem best, for cash or on credit or for future delivery, all without assumption of any credit risk. Buyer shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to
purchase the whole or any part of the Mortgage Assets so sold, free of any right or equity of redemption in Seller, which right or equity is hereby waived and released. Seller further agrees, at Buyer’s request at any time an Event of Default
has occurred and is continuing, to assemble the Mortgage Assets and make them available to Buyer at places which Buyer shall reasonably select, whether at Seller’s premises or elsewhere. Buyer shall apply the net proceeds of any action taken by
it pursuant to this Section 6(b) in accordance with Section 12(e). To the extent permitted by applicable law, Seller waives all claims, damages and demands it may acquire against Buyer arising out
of the exercise by them of any rights hereunder. If any notice of a proposed sale or other disposition of Mortgage Assets shall be required by law, such notice shall be deemed reasonable and proper if given at least ten (10) days before such
sale or other disposition. 
 (c) Assignment of Takeout Commitment. The sale of each Mortgage Loan to Buyer shall include
Seller’s rights (but none of the obligations) under the applicable Takeout Commitment and Takeout Agreement to deliver the Mortgage Loan or the related MBS, as applicable, to the Approved Takeout Investor and to receive the net sum therefor
specified in the Takeout Commitment from the Approved Takeout Investor (excluding, however, any Takeout Commitments or Takeout Agreements that by their express terms prohibit Seller’s assigning, pledging or granting a security interest in them
if and to the extent that such prohibition is not made ineffective by UCC §§ 9-406 or 9-408)). Effective on and after the Purchase Date for each Mortgage Loan
purchased by Buyer hereunder, Seller assigns to Buyer, free and clear of any Lien, all of Seller’s right, title and interest in any applicable Takeout Commitment and Takeout Agreement for such Mortgage Loan (excluding, however, any Takeout
Commitments or Takeout Agreements that by their express terms prohibit Seller’s assigning, pledging or granting a security interest in them if and to the extent that such prohibition is not made ineffective by UCC §§ 9-406 or 9-408)); provided that Buyer shall not assume or be deemed to have assumed any of the obligations of Seller under any Takeout Agreement or Takeout Commitment.

 7. Conditions Precedent 
 (a)
Conditions Precedent to the Effectiveness of this Agreement. The effectiveness of this Agreement shall be subject to the satisfaction of each of the following conditions precedent (any of which Buyer may electively waive, in Buyer’s sole
discretion): 
 (i) on or before the date hereof, Seller shall deliver or cause to be delivered each of the documents listed on Exhibit
D in form and substance satisfactory to Buyer and its counsel; 
 (ii) as of the date hereof, there has been no Material Adverse Effect
on the financial condition of Seller since the most recent financial statements of Seller delivered to Buyer; 

  
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 (iii) as of the date hereof, no material action, proceeding or investigation shall have been
instituted or threatened, nor shall any material order, judgment or decree have been issued or proposed to be issued by any Governmental Authority with respect to Seller; 

(iv) Seller shall have delivered to Buyer the opinions of counsel set forth in Exhibit E, in form and substance satisfactory to Buyer
and its counsel; 
 (v) Seller shall have delivered to Buyer such other documents, opinions of counsel and certificates as Buyer may
reasonably request; 
 (vi) Seller shall have established the Accounts at Financial Institution and shall have deposited the Required Amount
to the Cash Pledge Account; 
 (vii) Seller shall have acquired licenses to Originate Mortgage Loans in all states where it is required to
have a license to do so; 
 (viii) on or before the date hereof, Seller shall have paid to the extent due all fees and out-of-pocket costs and expenses reasonably incurred (including due diligence fees and expenses reasonably incurred and reasonable legal fees and expenses) required to be paid
under this Agreement or any other Transaction Document; and 
 (ix) Buyer shall have received such other documents, information, reports and
certificates as it shall have reasonably requested. 
 (b) Conditions Precedent to Transactions. Buyer’s obligation to pay the
Purchase Price for each Transaction shall be subject to the satisfaction of each of the following conditions precedent, as applicable: 
 (i)
with respect to each Purchase Date, Seller shall have delivered to Buyer a Confirmation and the Asset Schedule with respect to the Purchased Mortgage Loans subject to such Transaction; 

(ii) with respect to Wet Loans, Custodian shall have received the Asset Schedule; 

(iii) with respect to Mortgage Loans other than Wet Loans, Custodian shall have received the Asset Schedule and the Asset Files for, and Buyer
shall have received the Custodian’s Trust Receipt listing, and a Custodial Loan Transmission that includes, all Delivered Mortgage Loans subject to such Transaction; 

(iv) on or before the Pooling Date for any Pool, Seller shall have delivered to Custodian with respect to Purchased Mortgage Loans subject to
an outstanding Transaction included in such Pool the Pooling Documents in accordance with the requirements therefor set forth in the Custodial Agreement; 

(v) no Default or Event of Default shall have occurred and be continuing; 

  
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 (vi) Buyer, in the exercise of its sole and absolute discretion, shall have made an
affirmative election to fund the proposed Transaction; 
 (vii) no Margin Deficit shall exist either before or after giving effect to such
Transaction; 
 (viii) this Agreement and each of the other Transaction Documents shall be in full force and effect, and the Termination Date
shall not have occurred; 
 (ix) each Mortgage Loan subject to such Transaction shall be an Eligible Mortgage Loan; 

(x) Seller’s and each Guarantor’s representations and warranties in this Agreement and each of the other Transaction Documents to
which it is a party and in any Officer’s Certificate delivered to Buyer in connection therewith shall be true and correct in all material respects on and as of the date hereof and such Purchase Date, with the same effect as though such
representations and warranties had been made on and as of such date (except for those representations and warranties and Officer’s Certificates that are specifically made only as of a different date, which representations and warranties and
Officer’s Certificates shall be correct in all material respects on and as of the date made), and Seller and each Guarantor shall have complied with all the agreements and satisfied all the conditions under this Agreement, each of the other
Transaction Documents and the Mortgage Loan Documents to which it is a party on its part to be performed or satisfied at or before the related Purchase Date; 

(xi) no Requirement of Law shall prohibit the consummation of any transaction contemplated hereby; 

(xii) no action, proceeding or investigation shall have been instituted or threatened, nor shall any order, judgment or decree have been issued
or proposed to be issued by any Governmental Authority to set aside, restrain, enjoin or prevent the consummation of any Transaction contemplated hereby or seeking material damages against Buyer in connection with the transactions contemplated by
the Transaction Documents; 
 (xiii) Buyer shall have determined that the amounts on deposit in the Operating Account are sufficient to fund
any shortfall between (x) the amount Seller is to fund to Originate or otherwise acquire each Mortgage Loan to be purchased by Buyer in such Transaction and (y) the Purchase Price to be paid by Buyer therefor, after taking into account all
other obligations of Seller that are to be satisfied with the amounts on deposit in the Operating Account on such Transaction’s Purchase Date; 

(xiv) after giving effect to such Transaction, the Aggregate Purchase Price for all outstanding Transactions will not exceed the Facility
Amount; 

  
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 (xv) annually during the term of this Agreement, commencing in April 2017, a due diligence
review and inspection of Seller, either by Buyer or by a third party selected by Buyer, in form and substance satisfactory to Buyer, shall have been submitted to and approved by Buyer; and 

(xvi) Seller shall have deposited the amount required by Section 5 into the Cash Pledge Account. 

The acceptance by Seller, or by any Settlement Agent at the direction of Seller, of any Purchase Price proceeds shall be deemed to constitute a representation
and warranty by Seller that the foregoing conditions have been satisfied. 
 8. Change in Law 

(a) If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, liquidity or similar requirement against assets of, deposits with or for
the account of, or credit extended by, Buyer (except any such reserve requirement reflected in the Adjusted LIBO Rate); or 
 (ii) impose on
Buyer or the London interbank market any other condition affecting this Agreement or Transactions entered into by Buyer; 
 and the result of any of the
foregoing shall be to increase the cost to Buyer of making or maintaining any purchase hereunder (or of maintaining its obligation to enter into any Transaction) or to increase the cost or to reduce the amount of any sum received or receivable by
Buyer (whether of Repurchase Price, Price Differential or otherwise), then Seller will pay to Buyer such additional amount or amounts as will compensate Buyer for such additional costs incurred or reduction suffered. 

(b) If Buyer reasonably determines that any Change in Law regarding capital requirements has or would have the effect of reducing the rate of
return on Buyer’s capital or on the capital of Buyer’s holding company as a consequence of this Agreement or the purchases made by Buyer under this Agreement to a level below that which Buyer or Buyer’s holding company could have
achieved but for such Change in Law (taking into consideration Buyer’s policies with respect to capital adequacy) by an amount deemed by Buyer in good faith to be material, then from time to time Seller will pay to Buyer such additional amount
or amounts as will compensate Buyer or Buyer’s holding company for any such reduction suffered. 
 (c) A certificate of Buyer setting
forth the amount or amounts necessary to compensate Buyer or its holding company, as the case may be, as specified in Section 8(a) or 8(b) shall be delivered to Seller and shall be conclusive absent manifest error.
Seller shall pay Buyer, the amount shown as due on any such certificate within ten (10) days after receipt thereof. 
 (d) To the extent
that Buyer demands compensation for such amounts under Section 8(a) or 8(b), Seller shall have the right to designate the Termination Date by written notice given to Buyer at least thirty (30) days before such
designated Termination Date and Seller shall only be obligated to pay Buyer the amounts under Section 8(c) to the extent such amounts are necessary to compensate Buyer through the Termination Date. 

  
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 (e) Failure or delay on the part of Buyer to demand compensation pursuant to this
Section 8 shall not constitute a waiver of Buyer’s right to demand such compensation; provided that Seller shall not be required to compensate Buyer pursuant to this Section 8 for any
increased costs or reductions incurred more than two hundred seventy (270) days before the date that Buyer notifies Seller of the Change in Law giving rise to such increased costs or reductions and of Buyer’s intention to claim
compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 270-day period referred to above shall be extended to
include the period of retroactive effect thereof. 
 9. Indication on Seller’s Records of Sale of Mortgage Assets to Buyer 

Seller shall indicate on its books and records the interest of Buyer in the Mortgage Assets and shall place on its written records pertaining
to the Purchased Mortgage Loans a legend indicating that such Purchased Mortgage Loans have been sold to Buyer. All of Seller’s interest in the Purchased Mortgage Loans (including the Servicing Rights) shall pass to Buyer on the Purchase Date
and nothing in this Agreement shall preclude Buyer from engaging in repurchase transactions with the Purchased Mortgage Loans or otherwise selling, transferring, pledging or hypothecating the Purchased Mortgage Loans, but no such transaction shall
relieve Buyer of its obligations to transfer the Purchased Mortgage Loans to Seller pursuant to Section 3(f), Section 3(g), Section 3(k)(ii),
Section 4(c) or Section 21(b). 
 10. Representations and Warranties of Seller. 

(a) To induce Buyer to enter into this Agreement and the Transactions hereunder, Seller represents and warrants on the date of this Agreement
and, except where otherwise expressly provided, as of each Purchase Date, as follows: 
 (i) Representations and Warranties Concerning
Purchased Mortgage Loans. Subject to the proviso set forth in Section 12(a)(iii), by each delivery of a Confirmation, Seller shall be deemed, as of the Purchase Date of each Purchased Mortgage Loan (or, if another date
is expressly provided in such representation or warranty, as of such other date), and as of each day thereafter that such Purchased Mortgage Loan continues to be subject to an outstanding Transaction, to represent and warrant that such Purchased
Mortgage Loan is an Eligible Mortgage Loan and to make the representations and warranties regarding it that are set forth in Exhibit B. 

(ii) Organization and Good Standing; Subsidiaries. Seller is a limited liability company duly organized, validly existing and in good
standing under the laws of the jurisdiction under which it was organized, has full legal power and authority to own its property and to carry on its business as currently conducted, and is duly qualified as a foreign entity to do business and is in
good standing in each jurisdiction in which the transaction of its business makes such qualification necessary, except in jurisdictions, if any, where a failure to be in good standing has no material adverse effect on the business, operations,
assets or financial condition of Seller. For the purposes hereof, good standing shall include qualification for any and all licenses and payment of any and all taxes required in the jurisdiction of its organization and in each jurisdiction in which
Seller transacts business. Seller has no Subsidiaries except those listed in Exhibit F, as such exhibit has been most recently updated by a revision delivered by Seller to Buyer. As of the date of this Agreement, with respect to Seller and
each such Subsidiary, Exhibit F correctly states its name as it appears in its articles of formation filed in the jurisdiction of its organization, address, place of organization, each state in which it is qualified as a foreign corporation
or entity, and in the case of the Subsidiaries, the percentage ownership (direct or indirect) of Seller in such Subsidiary. 

  
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 (iii) Authority and Capacity. Seller has all requisite power, authority and capacity
to enter into this Agreement and each other Transaction Document and to perform the obligations required of it hereunder and thereunder. This Agreement constitutes a valid and legally binding agreement of Seller enforceable in accordance with its
terms, except as enforceability may be limited by bankruptcy, insolvency, moratorium, reorganization, conservatorship and similar laws, and by equitable principles. No consent, approval, authorization, license or order of or registration or filing
with, or notice to, any Governmental Authority is required under any Requirement of Law before the execution, delivery and performance of or compliance by Seller with this Agreement or any other Transaction Document or the consummation by Seller of
any transaction contemplated thereby, except for those that have already been obtained by Seller, and the filings and recordings in respect of the Liens created pursuant to this Agreement and the other Transaction Documents. If Seller is a
depository institution, this Agreement is a part of, and will be maintained in, Seller’s official records. 
 (iv) No Conflict.
Neither the execution and delivery of this Agreement, nor the consummation of the transactions contemplated by this Agreement, nor compliance with its terms and conditions, shall conflict with or result in the breach of, or constitute a default
under, or result in the creation or imposition of any Lien (other than Liens created pursuant to this Agreement and the other Transaction Documents) of any nature upon the properties or assets of Seller under, any of the terms, conditions or
provisions of Seller’s organizational documents, or any material mortgage, indenture, deed of trust, loan or credit agreement or other material agreement or material instrument to which Seller is now a party or by which it is bound (other than
this Agreement). 
 (v) Performance. Seller does not believe, nor does it have any reason or cause to believe, that it cannot perform,
and Seller intends to perform, each and every covenant that it is required to perform under this Agreement and the other Transaction Documents. 

(vi) Ordinary Course Transaction. The consummation of the transactions contemplated by this Agreement are in the ordinary course of
business of Seller, and neither the sale, transfer, assignment and conveyance of Mortgage Loans to Buyer nor the pledge, assignment, transfer and granting of a security interest to Buyer in the Mortgage Assets, by Seller pursuant to this Agreement
is subject to the bulk transfer or any similar Requirement of Law in effect in any applicable jurisdiction. 
 (vii) Litigation;
Compliance with Laws. There is no Litigation pending or, to Seller’s knowledge threatened, that could reasonably be expected to cause a Material Adverse Effect or that could reasonably be expected to materially and adversely affect the
Mortgage Loans sold or to be sold pursuant to this Agreement, taken as a whole. Seller has not violated any Requirement of Law applicable to Seller that, if violated, would materially and adversely affect the Mortgage Loans to be sold pursuant to
this Agreement, taken as a whole, or could reasonably be expected to have a Material Adverse Effect. 

  
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 (viii) Statements Made. The information, reports, financial statements, exhibits and
schedules furnished in writing by or on behalf of Seller to Buyer in connection with the negotiation, preparation or delivery of this Agreement and the other Transaction Documents or included herein or therein or delivered pursuant hereto or
thereto, when taken as a whole, do not contain any untrue statement of material fact or omit to state any material fact necessary to make the statements herein or therein, in light of the circumstances under which they were made, not misleading. All
written information furnished after the date hereof by or on behalf of Seller to Buyer in connection with this Agreement and the other Transaction Documents and the transactions contemplated hereby and thereby will be true, complete and accurate in
every material respect, or (in the case of projections) based on reasonable estimates, on the date as of which such information is stated or certified. There is no fact known to a Responsible Officer that, after due inquiry, could reasonably be
expected to have a Material Adverse Effect that has not been disclosed herein, in the other Transaction Documents or in a report, financial statement, exhibit, schedule, disclosure letter or other writing furnished to Buyer for use in connection
with the transactions contemplated hereby or thereby. 
 (ix) Approved Company. Seller currently holds all approvals, authorizations
and other licenses from the Approved Takeout Investors and the Agencies required under the Takeout Guidelines (or otherwise) to Originate, purchase, hold, service and sell Mortgage Loans of the types to be offered for sale to Buyer hereunder. 

(x) Fidelity Bonds. Seller has purchased fidelity bonds and policies of insurance, all of which are in full force and effect, insuring
Seller, Buyer and the successors and assigns of Buyer in the greatest of (a) Five Hundred Thousand Dollars ($500,000), (b) the amount required by the Approved Takeout Investor and (c) the amount required by any other Takeout Guidelines,
against loss or damage from any breach of fidelity by Seller or any officer, director, employee or agent of Seller, and against any loss or damage from loss or destruction of documents, fraud, theft or misappropriation, or errors or omissions. 

(xi) Solvency. Both as of the date hereof and immediately after giving effect to each Transaction hereunder, the fair value of
Seller’s assets is greater than the fair value of Seller’s liabilities (including contingent liabilities if and to the extent required to be recorded as liabilities on the financial statements of Seller in accordance with GAAP), and Seller
(1) is not insolvent (as defined in 11 U.S.C. § 101(32)), (2) is able to pay and intends to pay its debts as they mature and (3) does 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 transferring any Loans with any intent to hinder, delay or defraud any Person. 

(xii) Reporting. In its financial statements, Seller intends to report each sale of a Mortgage Loan hereunder as a financing in
accordance with GAAP. Seller has been advised by or confirmed with its independent public accountants that such sales can be so reported under GAAP on its financial statements. 

  
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 (xiii) Financial Condition. The consolidated balance sheets of Seller provided to
Buyer pursuant to Section 11(h) (and, if applicable, its Subsidiaries) as of the dates of such balance sheets, and the related consolidated statements of income, changes in stockholders’ equity and cash flows for the
periods ended on the dates of such balance sheets heretofore furnished to Buyer, fairly present in all material respects the financial condition of Seller and its Subsidiaries as of such dates and the results of their operations for the periods
ended on such dates. On the dates of such balance sheets, Seller had no known material liabilities, direct or indirect, fixed or contingent, matured or unmatured, or liabilities for taxes, long-term leases or unusual forward or long-term commitments
not disclosed by, or reserved against on, said balance sheets and related statements, and at the present time there are no material unrealized or anticipated losses from any loans, advances or other commitments of Seller except as heretofore
disclosed to Buyer in writing. Said financial statements were prepared in accordance with GAAP applied on a consistent basis throughout the periods involved. Since the date of the balance sheet most recently provided, there has been no Material
Adverse Effect, nor is Seller aware of any state of facts particular to Seller that (with or without notice or lapse of time or both) could reasonably be expected to result in any such Material Adverse Effect. 

(xiv) Regulation U. Seller is not engaged principally, or as one of its important activities, in the business of extending credit for
the purpose of purchasing or carrying margin stock, and no part of the proceeds of any sales made 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.

 (xv) Investment Company Act. Seller is not an “investment company” within the meaning of the Investment Company Act of
1940, as amended. 
 (xvi) Agreements. Neither Seller nor any of its Subsidiaries is a party to any agreement, instrument or
indenture, or subject to any restriction, that has, or could reasonably be expected to have, a Material Adverse Effect. None of Seller’s Subsidiaries is subject to any dividend restriction imposed by a Governmental Authority other than those
under applicable statutory law. Neither Seller nor any of its Subsidiaries is in default in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any agreement, instrument or indenture which
default could reasonably be expected to result in a Material Adverse Effect. No Act of Insolvency with respect to Seller or any Guarantor, or any of their respective properties is pending, contemplated or, to the knowledge of Seller, threatened.

 (xvii) Title to Properties. Seller has good, valid, insurable (in the case of real property) and marketable title to all of its
material properties and assets (whether real or personal, tangible or intangible) reflected on the financial statements described in Section 11(h). None of the Mortgage Assets are subject to any Lien except the Lien in
favor of Buyer. 
 (xviii) ERISA. All plans (“Plans”) of a type described in Section 3(3) of ERISA in respect of
which Seller or any Subsidiary of Seller is an “employer,” as defined in Section 3(5) of ERISA, are in substantial compliance with ERISA, and none of such Plans is insolvent or in reorganization, has an accumulated or waived funding
deficiency within the meaning of Section 412 of the IRC, and neither Seller nor any Subsidiary of Seller has incurred any material liability (including any material contingent liability) to or on account of any such Plan pursuant to Sections
4062, 4063, 4064, 4201 or 4204 of ERISA. No proceedings have been instituted to terminate any such Plan, and no condition exists that presents a material risk to Seller or a Subsidiary of Seller of incurring a liability to or on account of any such
Plan pursuant to any of the foregoing Sections of ERISA. As of the date of this Agreement, no material liability exists with respect to any Plan in which Seller, any Subsidiary of Seller or any Guarantor is an “employer”, or any trust
forming a part thereof, that has been terminated since December 1, 1974. 

  
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 (xix) Proper Names. Seller does not operate in any jurisdiction under a trade
name, division, division name or name other than those names previously disclosed in writing by Seller to Buyer, and all such names are utilized by Seller only in the jurisdiction(s) identified in such writing. As of the date of this Agreement, the
only names used by Seller in its tax returns for the last ten (10) years are set forth in Exhibit I. 
 (xx) Tax Returns and
Payments. All federal, state and local income, excise, property and other tax returns required to be filed with respect to Seller’s operations and those of its Subsidiaries in any jurisdiction have been filed on or before the due date
thereof (plus any applicable extensions); all such returns are true and correct in all material respects; all taxes, assessments, fees and other governmental charges upon Seller, and Seller’s Subsidiaries and upon their respective properties,
income or franchises, that are, or should be shown on such tax returns to be, due and payable have been paid, including all Federal Insurance Contributions Act (FICA) payments and withholding taxes, if appropriate, other than those that are being
contested in good faith by appropriate proceedings, diligently pursued and as to which Seller has established adequate reserves determined in accordance with GAAP, consistently applied. The amounts reserved, as a liability for income and other taxes
payable, in the financial statements described in Section 11(h) are sufficient for payment of all unpaid federal, state and local income, excise, property and other taxes, whether or not disputed, of Seller and its
Subsidiaries, accrued for or applicable to the period and on the dates of such financial statements and all years and periods prior thereto and for which Seller and Seller’s Subsidiaries may be liable in their own right or as transferee of the
assets of, or as successor to, any other Person. 
 (xxi) Shares Valid, Paid and
Non-assessable. The outstanding shares of capital stock (or other equity equivalent) of Seller have been duly authorized and validly issued and are fully paid and
non-assessable. 
 (xxii) Credit Information. Seller has full right and authority and is not
precluded by law or contract from furnishing to Buyer the applicable consumer report (as defined in the Fair Credit Reporting Act, Public Law 91-508) and all other credit information relating to each Purchased
Mortgage Loan sold hereunder, and Buyer will not be precluded from furnishing such materials to the related Approved Takeout Investor by such laws. 

(xxiii) No Discrimination. Seller makes credit accessible to all qualified applicants in accordance in all material respects with all
Requirements of Law. Seller has not discriminated, and will not discriminate, against credit applicants on the basis of any prohibited characteristic, including race, color, religion, national origin, sex, marital or familial status, age (provided
that the applicant has the ability to enter into a binding contract), handicap, sexual orientation or because all or part of the applicant’s income is derived from a public assistance program or because of the applicant’s good faith
exercise of rights under the Federal Consumer Protection Act. Furthermore, Seller has not discouraged, and will not discourage, the completion of any credit application based on any of the foregoing prohibited bases. In addition, Seller has complied
in all material respects with all anti-redlining provisions and equal credit opportunity laws applicable under all Requirements of Law. 

  
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 (xxiv) Home Ownership and Equity Protection Act. As of the date of this Agreement,
there is no litigation, proceeding or governmental investigation existing or pending or to the knowledge of Seller threatened, or any order, injunction or decree outstanding against or relating to Seller, relating to any violation of the Home
Ownership and Equity Protection Act or any state, city or district high cost home mortgage or predatory lending law. 
 (xxv) In
Compliance with Applicable Laws. Seller complies in all material respects with all Requirements of Law applicable to it. Without limiting the foregoing, Seller complies in all material respects with all applicable (1) Agency Guidelines,
(2) Privacy Requirements, including the GLB Act and Safeguards Rules promulgated thereunder, (3) consumer protection laws and regulations, (4) licensing and approval requirements applicable to Seller’s Origination of Mortgage
Loans and (5) other laws and regulations referenced in the definition of “Requirement(s) of Law”, in item (gg) of Exhibit B or in both of such places. 

(xxvi) Place of Business and Formation. As of the date of this Agreement, the principal place of business of Seller is located at the
address set forth for Seller in Section 15. As of the date of this Agreement, and during the four (4) months immediately preceding that date, the chief executive office of Seller and the office where it keeps its
financial books and records relating to its property and all contracts relating thereto and all accounts arising therefrom is and has been located at the address set forth for Seller in Section 15. As of the date hereof,
Seller’s jurisdiction of organization is the state specified in Section 15. 
 (xxvii) No Adverse
Selection. Seller used no selection procedures that identified the Purchased Mortgage Loans offered to Buyer for purchase hereunder as being less desirable or valuable than other comparable Mortgage Loans owned by Seller. 

(xxviii) MERS. Seller is a member of MERS in good standing. 

(xxix) Seller is Principal. Seller is engaging in the Transactions as a principal. 

(xxx) No Default. No Default or Event of Default has occurred and is continuing. 

(xxxi) Anti-Money Laundering Laws. Seller and its Affiliates each complies with all Anti-Money Laundering Laws applicable to it and its
agents. 
 (xxxii) Anti-Corruption Laws and Sanctions. Seller has implemented and maintains in effect policies and procedures designed
to ensure compliance by Seller, its Subsidiaries and their respective directors, members, managers, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and Seller, its Subsidiaries and their respective directors,
members, managers, officers, employees and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. Neither Seller, any of its Subsidiaries nor any of their respective directors, members, managers,
officers or employees or agents that will act in any capacity in connection with or benefit from the mortgage warehousing facility established hereby, is a Sanctioned Person. No use of proceeds of any Transaction nor any other transaction
contemplated by the Transaction Documents will violate Anti-Corruption Laws or applicable Sanctions. 

  
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 (b) Representations as to Additional Mortgage Loans. Subject to the proviso stated in
Section 12(a)(iii), on and as of the date of transfer of each Mortgage Loan transferred from Seller to Buyer as an Additional Purchased Mortgage Loan and on each day thereafter before it is repurchased by Seller, Seller
shall be deemed to represent to Buyer that each Additional Purchased Mortgage Loan is an Eligible Mortgage Loan and to make the representations and warranties in respect thereof that are set forth in Exhibit B. 

(c) Copies. Each time Seller delivers or causes to be delivered to Buyer a copy (instead of the original) of any document pursuant or
relating to this Agreement, any other Transaction Document or any Transaction, Seller shall be deemed to warrant, represent and certify to Buyer at the time of delivery that such copy is a true, correct and complete copy of the original of that
document unless such document is accompanied by Seller’s written statement that such document is incorrect or incomplete in the manner specified in such statement. 

(d) Survival of Representations. All the representations and warranties made by Seller to Buyer in this Agreement are binding on Seller
regardless of whether the subject matter thereof was under the control of Seller or a third party. Seller acknowledges that Buyer will rely upon all such representations and warranties with respect to each Purchased Mortgage Loan purchased by Buyer
hereunder, and Seller makes such representations and warranties in order to induce Buyer to purchase the Mortgage Loans. The representations and warranties by Seller in this Agreement with respect to a Purchased Mortgage Loan shall be unaffected by,
and shall supersede and control over, any provision in any existing or future endorsement of any Purchased Mortgage Loan or in any assignment with respect to such Purchased Mortgage Loan to the effect that such endorsement or assignment is without
recourse or without representation or warranty. All Seller representations and warranties shall survive delivery of the Loan Eligibility Files, the Asset Files and the Confirmations, purchase by Buyer of Purchased Mortgage Loans, transfer of the
servicing for the Purchased Mortgage Loans to a successor servicer, delivery of Purchased Mortgage Loans to an Approved Takeout Investor, repurchases of the Purchased Mortgage Loans by Seller and termination of this Agreement. The representations
and warranties of Seller in this Agreement shall inure to the benefit of Buyer and its successors and assigns, notwithstanding any examination by Buyer of any Mortgage Loan Documents, related files or other documents delivered to Buyer. 

11. Seller’s Covenants. 
 Seller shall
perform the following duties at all times during the term of this Agreement: 
 (a) Maintenance of Existence; Conduct of Business.
Seller shall preserve and maintain its existence in good standing and all of its rights, privileges, licenses and franchises necessary in the normal conduct of its business, including its eligibility as lender, seller/servicer and issuer described
under Section 10(a)(ix) and make no material change in the nature or character of its business or engage in any business substantially different from the loan origination and servicing business in which it is engaged on the
date of this Agreement. Seller will not make any material change in its accounting treatment and reporting practices except as required by GAAP. Seller will remain a member of MERS in good standing. 

  
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 (b) Compliance with Applicable Laws. Seller shall comply with all Requirements of
Law, a breach of which would, or could reasonably be expected to, affect, as a whole in a materially adverse manner, the Purchased Mortgage Loans or the Mortgage Loans to be sold pursuant to this Agreement, or that could reasonably be expected to
result in a Material Adverse Effect, in each case except where contested in good faith and by appropriate proceedings and with adequate book reserves determined in accordance with GAAP, consistently applied, established therefor. Seller shall comply
in all material respects with all Requirements of Law applicable to it. Without limiting the foregoing, Seller shall comply in all material respects with all applicable (1) Agency Guidelines, (2) Privacy Requirements, including the GLB Act
and Safeguards Rules promulgated thereunder, (3) consumer protection laws and regulations, (4) licensing and approval requirements applicable to Seller’s Origination of Mortgage Loans and (5) other laws and regulations referenced
in the definition of “Requirement(s) of Law”, in item (gg) of Exhibit B or in both of such places. 
 (c)
Compliance with Anti-Corruption Laws. Seller shall maintain in effect and enforce policies and procedures designed to ensure compliance by Seller and Subsidiaries and their respective directors, members, managers, officers, employees and
agents with Anti-Corruption Laws and applicable Sanctions. 
 (d) Inspection of Properties and Books. Seller shall permit authorized
representatives of Buyer to (i) discuss the business, operations, assets and financial condition of Seller and Seller’s Subsidiaries with their officers and employees and to examine their books of account, records, reports and other papers
and make copies or extracts thereof, (ii) inspect Seller’s Mortgage Assets and all related information and reports, and (iii) audit Seller’s operations to ensure compliance with the terms of the Transaction Documents, the GLB Act
and other privacy laws and regulations, all at such reasonable times as Buyer may request. Unless a Default or an Event of Default has occurred and is continuing (in which event Buyer shall have no obligation whatsoever to give Seller advance
notice), Buyer will give Seller reasonable advance notice of each such audit, inspection or visit. Seller shall reimburse Buyer for out-of-pocket expenses reasonably
incurred in connection with only one such audit, inspection or visit during any twelve (12) month period, and for out-of-pocket expenses reasonably incurred in
connection with each such audit, inspection or visit, if any, undertaken when a Default or an Event of Default exists. Seller will provide its accountants with a photocopy of this Agreement promptly after Buyer notifies Seller that Buyer wishes to
discuss the financial condition or affairs of Seller and Seller’s Subsidiaries with such accountants and will instruct its accountants to answer candidly any and all questions that the officers of Buyer or any authorized representatives of
Buyer may address to them in reference to the financial condition or affairs of Seller and Seller’s Subsidiaries. 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. 
 (e) Notices. Seller will promptly notify Buyer of the
occurrence of any of the following and shall provide such additional documentation and cooperation as Buyer may request with respect to any of the following: 

  
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 (i) any change in the business address and/or telephone number of Seller or any Guarantor;

 (ii) any merger, consolidation or reorganization of Seller or any Guarantor; 

(iii) Seller’s creation, formation or acquisition of any Subsidiary; 

(iv) for any reason, Anthony Hsieh ceases to be the chairman and chief executive officer of Seller or Bryan Sullivan ceases to be the chief
financial officer of Seller; 
 (v) any changes in the ownership of Seller or any Guarantor after the date of this Agreement by direct or
indirect means, after which (x) any Person other than Anthony Hsieh, Parthenon Investors III, L.P., Trilogy Mortgage Holdings, Inc. or LD Investment Holdings, Inc. shall own, directly or indirectly, a ten percent (10%) or greater equity
interest in Seller or any Guarantor or (y) either (i) Anthony Hsieh, his Family Members and his Family Trusts, or (ii) Parthenon Investors III, L.P., PCap Associates and Parthenon Capital Partners Fund, L.P. together, shall own, both
directly and indirectly, less than a ten percent (10%) equity interest in Seller or any Guarantor. “Indirect” means any change in ownership of a controlling interest of the relevant Person’s direct or indirect parent; 

(vi) any change of the name or jurisdiction of organization of Seller or any Guarantor; 

(vii) Seller’s incurring Debt other than the following: 

(A) Seller’s obligations under this Agreement and the other Transaction Documents; 

(B) Seller’s existing Debt, or Seller’s existing guaranties of its Subsidiaries’ or any other Persons’ indebtedness,
described on Exhibit H at current levels; 
 (C) Seller’s and its Subsidiaries’ obligations under other Available Warehouse
Facilities; 
 (D) obligations to pay taxes; 

(E) liabilities for accounts payable, non-capitalized equipment or operating leases and similar
liabilities, but only if incurred in the ordinary course of business; 
 (F) accrued expenses, deferred credits and loss contingencies that
are properly classified as liabilities under GAAP; 
 (G) non-speculative Hedging Arrangements
incurred in the ordinary course of business; 
 (H) credit or warehouse, early purchase, repurchase or similar facilities for the financing
of its Mortgage Loans; 

  
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 (I) capital lease obligations or purchase money debt of Seller or any of its Subsidiaries
for fixed or capital assets incurred in the ordinary course of business; 
 (J) other Debt not exceeding Ten Million Dollars ($10,000,000)
in the aggregate at any time outstanding; and 
 (K) guaranties of Debt incurred by a Subsidiary for credit or warehouse, early purchase,
repurchase or similar facilities to finance its investment in Mortgage Loans; 
 (viii) Seller’s guaranteeing obligations of any other
Person except Debt incurred by a Subsidiary for credit or warehouse, early purchase, repurchase or similar facilities to finance its investment in Mortgage Loans; 

(ix) any material adverse change in the financial position of Seller, Seller and its Subsidiaries taken as a whole, or any Guarantor; 

(x) receipt by Seller or any Guarantor of notice from the holder of any of its Debt of any alleged default in respect of Debt of One Million
Dollars ($1,000,000) or more; 
 (xi) entry of any court judgment or regulatory order in which Seller, any Subsidiary of Seller or any
Guarantor is or may be required to pay a claim or claims that could have a material adverse effect on the financial condition of Seller, Seller and its Subsidiaries taken as a whole or any Guarantor, on the ability of Seller or any Guarantor to
perform its obligations under any Transaction Document, or on the ability of Seller or any Guarantor to continue its operations in a manner similar to its current operations; 

(xii) the filing of any petition, claim or lawsuit against Seller, any Subsidiary of Seller or any Guarantor that could reasonably be expected
to have a material adverse effect on the financial condition of Seller, Seller and its Subsidiaries taken as a whole or any Guarantor, on the ability of Seller or any Guarantor to perform its obligations under any Transaction Document, or on the
ability of Seller or any Guarantor to continue its operations in a manner similar to its current operations; 
 (xiii) Seller, any Subsidiary
of Seller or any Guarantor admits to committing, or is found to have committed, a material violation of any Requirement of Law relating to its business operations, including its loan generation, sale or servicing operations; 

(xiv) the initiation of any investigations, audits, examinations or reviews of Seller, any Subsidiary of Seller or any Guarantor by any Agency
or Governmental Authority relating to the Origination, sale or servicing of mortgage loans by Seller, any Subsidiary of Seller or any Guarantor or the business operations of Seller, any Subsidiary of Seller or any Guarantor (with the exception of
routine and normally scheduled audits or examinations by the regulators of Seller, any Subsidiary of Seller or any Guarantor), in each case provided that Seller or such Subsidiary is not prohibited by either any Requirement of Law or any agreement
with such Agency or Governmental Authority from disclosing the fact of the investigation, audit, examination or review ; 

  
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 (xv) any disqualification or suspension of Seller, any Subsidiary of Seller or any Guarantor
by an Agency, including any notification or knowledge, from any source, of any disqualification or suspension, or any warning of any such disqualification or suspension or impending or threatened disqualification or suspension; 

(xvi) the occurrence of any actions, inactions or events upon which an Agency may, in accordance with Agency Guidelines, disqualify or suspend
Seller or any Subsidiary of Seller as a seller or servicer, including (if Seller is or becomes a Freddie Mac-approved seller or servicer) those events or reasons for disqualification or suspension enumerated
in Chapter 5 of the Freddie Mac Single Family Seller/Servicer Guide and (if Seller is or becomes a Fannie Mae-approved seller or servicer) any breach of Seller’s “Lender Contract” (as defined in
the Fannie Mae Single Family 2010 Selling Guide) with Fannie Mae including the breaches described or referred to in Section A2-3, 1-01 “Lender Breach of
Contract” of the Fannie Mae Single Family 2010 Selling Guide; 
 (xvii) the filing, recording or assessment of any federal, state or
local tax Lien in excess of Five Hundred Thousand Dollars ($500,000) against Seller or any Guarantor or any of their assets; 
 (xviii) the
occurrence of any Event of Default hereunder or the occurrence of any Default; 
 (xix) the suspension, revocation or termination of any
licenses or eligibility as described under Section 10(a)(ix) of Seller, any Subsidiary of Seller or any Guarantor; 

(xx) any other action, event or condition of any nature that could reasonably be expected to result in a Material Adverse Effect or that, with
or without notice or lapse of time or both, will constitute a default under any other material agreement, instrument or indenture to which Seller or any Guarantor is a party or to which its properties or assets may be subject; or 

(xxi) any alleged breach by Buyer of any provision of this Agreement or of any of the other Transaction Documents of which Seller has actual
knowledge; provided that the failure to give the notice required by this Section 11(e)(xxi) shall not constitute a Default or an Event of Default. 

(f) Payment of Debt, Taxes, etc. 

(i) Seller shall pay and perform all material obligations of Seller in accordance with the terms thereof, and pay and discharge or cause to be
paid and discharged all taxes, assessments and governmental charges or levies imposed upon Seller or upon its income, receipts or properties, before the same shall become past due, as well as all lawful claims for labor, materials or supplies or
otherwise that, if unpaid, might become a Lien upon such properties or any part thereof; provided that Seller shall not be required to pay obligations, taxes, assessments or governmental charges or levies or claims for labor, materials or
supplies for which Seller shall have obtained an adequate bond or adequate insurance or that are being contested in good faith and by proper proceedings that are being reasonably and diligently pursued, if such proceedings do not involve any
likelihood of the sale, forfeiture or loss of any such property or any interest therein while such proceedings are pending and if adequate book reserves determined in accordance with GAAP, consistently applied, are established therefor. 

  
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 (ii) (A) All payments made by Seller under this Agreement shall be made free and clear of,
and without deduction or withholding for or on account of, any present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities (including penalties, interest and additions to tax) with respect thereto imposed by
any Governmental Authority, excluding (i) taxes imposed on (or measured by) Buyer’s net income (however denominated) or capital, branch profits taxes, franchise taxes or any other tax imposed on Buyer’s net income by the United
States, a state or a foreign jurisdiction under the laws of which Buyer is organized or of its applicable lending office, or a state or foreign jurisdiction with respect to which Buyer has a present or former connection (other than any connection
arising from Buyer’s executing, delivering, becoming a party to, performing its obligations under, receiving payments under, receiving or perfecting a security interest under, engaging in any other transaction pursuant to or enforcing any
Transaction Document), or any political subdivision thereof, (ii) taxes imposed under FATCA and (iii) taxes attributable to Buyer’s failure to comply with Section 11(f)(ii)(D) (collectively, such non-excluded taxes are herein called “Taxes”), all of which shall be paid by Seller for its own account not later than the date when due. If Seller is required by any Requirement of Law to deduct or
withhold any Taxes from or in respect of any amount payable hereunder, it shall (a) make such deduction or withholding, (b) pay the amount so deducted or withheld to the appropriate Governmental Authority not later than the date due,
(c) deliver to Buyer, promptly, original tax receipts and other evidence satisfactory to Buyer of the payment when due of the full amount of such Taxes and (d) except as otherwise provided in Section 11(f)(ii)(D)
pay to Buyer such additional amounts as may be necessary so that such Buyer receives, free and clear of all Taxes, a net amount equal to the amount it would have received under this Agreement, as if no such deduction or withholding had been made.

 (B) In addition, Seller agrees to pay to the relevant Governmental Authority in accordance with all applicable Requirements of Law any
current or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies (including mortgage recording taxes, transfer taxes and similar fees) imposed by the United States or any taxing authority thereof or
therein that arise from any payment made hereunder or from the execution, delivery or registration of, or otherwise with respect to, this Agreement except such taxes imposed with respect to an assignment as a result of a present or former connection
between Buyer and the jurisdiction imposing such taxes (other than connections arising from Buyer’s executing, delivering, becoming a party to, performing its obligations under, receiving payments under, receiving or perfecting a security
interest under, engaging in any other transaction pursuant to or enforcing any Transaction Document, or selling or assigning any Mortgage Asset or Transaction Document) (“Other Taxes”). 

(C) Seller agrees to indemnify Buyer for the full amount of Taxes and Other Taxes (including additional amounts with respect thereto), and the
full amount of Taxes of any kind imposed by any jurisdiction on amounts payable under this Section 11(f), and any liability (including penalties, interest and expenses) arising therefrom or with respect thereto, provided
that Buyer shall have provided Seller with evidence, reasonably satisfactory to Seller, of payment of Taxes or Other Taxes, as the case may be. 

  
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 (D) Any assignee of Buyer that is not incorporated or otherwise created under the laws of
the United States, any State thereof, or the District of Columbia (a “Foreign Buyer”) shall provide Seller with properly completed and duly executed IRS Form W-8BEN or W-8ECI or any successor form prescribed by the IRS, certifying (X) that such Foreign Buyer is either (1) entitled to benefits under an income tax treaty to which the United States is a party that
eliminates United States withholding tax under Sections 1441 through 1442 of the IRC on payments to it or (2) otherwise fully exempts from United States withholding tax under Sections 1441 through 1442 of the IRC on payments to it, or
(Y) that the income receivable pursuant to this Agreement is effectively connected with the conduct of a trade or business in the United States, on or before the date upon which each such Foreign Buyer becomes a purchaser of Mortgage Loans
hereunder. Each Foreign Buyer will resubmit the appropriate form on the earliest of (x) the third anniversary of the prior submission or (y) on or before the expiration of thirty (30) days after there is a “change in
circumstances” with respect to such Foreign Buyer as defined in Treas. Reg. Section 1.1441(e)(4)(ii)(D). For any period with respect to which a Foreign Buyer has failed to provide Seller with the appropriate form or other relevant document
pursuant to this Section 11(f)(ii) (unless such failure is due to a change in any Requirement of Law occurring subsequent to the date on which a form originally was required to be provided), such Foreign Buyer shall not be
entitled to any “gross-up” of Taxes or indemnification under this Section 11(f) with respect to Taxes imposed by the United States; provided that should a Foreign
Buyer, that is otherwise exempt from a withholding tax, become subject to Taxes because of its failure to deliver a form required hereunder, Seller, at no unreimbursed cost or expense to Seller or Guarantor, shall take such steps as such Foreign
Buyer shall reasonably request to assist such Foreign Buyer to recover such Taxes. 
 (E) If a payment made to Buyer under this Agreement
would be subject to United States federal withholding tax imposed by FATCA if Buyer were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the IRC, as applicable),
Buyer shall deliver to Seller at the time or times prescribed by law, and at such other time or times as shall be reasonably requested by Seller such documentation prescribed by applicable law (including as prescribed by
Section 1471(b)(3)(C)(i) of the IRC) and such additional documentation reasonably requested by Seller as may be necessary for Seller to comply with its obligations under FATCA or to determine the amount to deduct and withhold from such payment.
Solely for purposes of this Section 11(f)(ii)(E), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 

(F) Without prejudice to the survival or any other agreement of Seller hereunder, the agreements and obligations of Seller contained in this
Section 11(f) shall survive the termination of this Agreement. Nothing contained in this Section 11(f) shall require Buyer to make available any of its tax returns or other information that it
deems to be confidential or proprietary. 
 (G) Each Party acknowledges that it is its intent, for purposes of U.S. federal, state and local
income and franchise taxes only, to treat each purchase transaction hereunder as indebtedness of Seller that is secured by the Purchased Mortgage Loans and that the Purchased Mortgage Loans are owned by Seller in the absence of an Event of Default
by Seller. 

  
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All Parties agree to such treatment and agree to take no action inconsistent with this treatment unless required by law. 

(g) Insurance. Seller shall maintain at no cost to Buyer (a) errors and omissions insurance or mortgage impairment insurance and
blanket bond coverage, with such companies and in such amounts as to satisfy the requirements of prevailing Agency Guidelines applicable to a qualified mortgage originating institution, and prior to the initial Transaction shall cause Seller’s
policy to be endorsed with the Blanket Bond Required Endorsement and (b) liability insurance and fire and other hazard insurance on its properties, with responsible insurance companies, in such amounts and against such risks as is customarily
carried by similar businesses operating in the same vicinity. Photocopies of such policies shall be furnished to Buyer at no cost to Buyer upon Seller’s obtaining such coverage or any renewal of or modification to such coverage. 

(h) Financial Statements and Other Reports. Seller shall deliver or cause to be delivered to Buyer: 

(i) as soon as available and in any event not later than thirty (30) days after the end of each calendar month, consolidated statements of
income, retained earnings and cash flow of Seller and Seller’s Subsidiaries for the immediately preceding month, and related consolidated balance sheet as of the end of the immediately preceding month, all in reasonable detail, prepared in
accordance with GAAP applied on a consistent basis, and certified as to the fairness of presentation by the chief financial officer, chief accounting officer or controller of Seller, excluding, however, normal
year-end audit adjustments; 
 (ii) as soon as available and in any event not later than ninety
(90) days after Seller’s fiscal year end, consolidated statements of income, retained earnings and cash flows of Seller and Seller’s Subsidiaries for the preceding fiscal year, the related consolidated balance sheet as of the end of
such year, all in reasonable detail, prepared in accordance with GAAP applied on a consistent basis throughout the periods involved, and accompanied by an opinion (without a “going concern” or like qualification, commentary or exception
and without any qualification or exception as to the scope of such audit) prepared by Ernst & Young, another accounting firm reasonably satisfactory to Buyer or other independent certified public accountants of nationally recognized
standing selected by Seller, each stating that said financial statements fairly present in all material respects the financial condition, cash flows and results of operations of Seller and Seller’s Subsidiaries as of the end of, and for, such
year; 
 (iii) together with each delivery of financial statements required in Sections 11(h)(i) and 11(h)(ii), a Compliance
Certificate executed by Seller’s chief financial officer, chief accounting officer or controller; 
 (iv) photocopies or electronic
copies of any Form S-1 and all regular or periodic financial and other reports, if any, that Seller or any Guarantor shall file with the SEC (other than routine corporate or organizational filings), not later
than five (5) Business Days after filing; 

  
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 (v) photocopies or electronic copies of any audits completed by any Agency of Seller, any
Subsidiary of Seller or any Guarantor, unless such disclosure is prohibited by such Agency, not later than five (5) Business Days after receiving such audit; 

(vi) with reasonable promptness following Buyer’s request for them, photocopies or electronic copies of any regular or periodic financial
and other reports (other than routine tax and corporate or organizational filings) that Seller or any Guarantor shall have filed with any Governmental Authority other than the SEC; 

(vii) once every week, a report summarizing the Hedging Arrangements, if any, then in effect with respect to all Mortgage Loans then owned by
Buyer and interim serviced by Seller (or a Successor Servicer); 
 (viii) as soon as available and in any event not later than one hundred
twenty (120) days after the fiscal year end, statements of income, retained earnings and cash flows of each Subsidiary of Seller (other than the Dormant Subsidiaries) for the preceding fiscal year and the related balance sheet as of the end of
such year, all in reasonable detail and each of which may be prepared by the Seller or such Subsidiary; and 
 (ix) from time to time, with
reasonable promptness, such further information regarding the Mortgage Assets, or the business, operations, properties or financial condition of Seller and any Guarantor as Buyer may reasonably request. 

(i) Limits on Distributions. 

(i) If any Default or Event of Default described in Subsection 12(a)(i) (payment), Section 11(v) (Financial
Covenants), Section 11(q) (Hedging Arrangements) or Subsection 12(a)(x) (other Debt of $1,000,000 or more to Buyer or Buyer’s Affiliate), shall have occurred and be continuing, Seller shall not declare, make or
pay, or incur any liability to declare, make or pay, any dividend (excluding stock dividends) or other distribution including any Permitted Tax Distribution, direct or indirect, on or on account of any shares of its stock (or equivalent equity
interest) or any redemption or other acquisition, direct or indirect, of any shares of its stock (or equivalent equity interest) or of any warrants, rights or other options to purchase any shares of its stock (or equivalent equity interest), nor
purchase, acquire, redeem or retire any stock (or equivalent equity interest) in itself, whether now or hereafter outstanding, without the prior written consent of Buyer, which consent may not be unreasonably withheld. 

(i) If any Default or Event of Default other than those referred to in Subsection 11(i)(i) shall have occurred and be continuing, Seller
shall not declare, make or pay, or incur any liability to declare, make or pay, any dividend or other distribution other than stock dividends and Permitted Tax Distributions, direct or indirect, on or on account of any shares of its stock (or
equivalent equity interest) or any redemption or other acquisition, direct or indirect, of any shares of its stock (or equivalent equity interest) or of any warrants, rights or other options to purchase any shares of its stock (or equivalent equity
interest), nor purchase, acquire, redeem or retire any stock (or equivalent equity interest) in itself, whether now or hereafter outstanding, without the prior written consent of Buyer, which consent may not be unreasonably withheld. 

  
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 (j) Use of Chase’s Name. Seller shall and shall cause its Subsidiaries to,
confine its use of Buyer’s logo and the “JPMorgan” and “Chase” names to those uses authorized by Section 28 or specifically authorized by Buyer in writing. Except where required by the federal Real
Estate Settlement Procedures Act or the CFPB’s Regulation X thereunder, or the Helping Families Save Their Homes Act of 2009, as amended from time to time, or another Requirement of Law, in no instance may Seller or any of its Subsidiaries
disclose to any prospective Mortgagor, or the agents of the Mortgagor, that such Mortgagor’s Mortgage Loan will be offered for sale to Buyer. None of Seller or its Subsidiaries may use Buyer’s name or logo to obtain any mortgage-related
services without the prior written consent of Buyer. 
 (k) Reporting. In its financial statements, Seller will report each sale of a
Mortgage Loan hereunder as a financing in accordance with GAAP. 
 (l) Transactions with Affiliates. Except for the transactions
described in footnote 18 of the audited financial statements of Seller for the fiscal year ended December 31, 2015, Seller will not enter into any transaction, including any purchase, sale, lease or exchange of property or the rendering of any
service, with any Affiliate unless such transaction is (a) not prohibited under this Agreement and (b) in the ordinary course of Seller’s business and upon fair and reasonable terms no less favorable to Seller than it would obtain in
a comparable arm’s-length transaction with a Person that is not an Affiliate; provided that this Section 11(l) shall not prohibit any Subsidiary of Seller from making any
dividend or distribution to Seller or Seller from making any dividend or distribution permitted under Section 11(i). 

(m) Defense of Title; Preservation of Mortgage Assets. Seller warrants and will defend the right, title and interest of Buyer in and to
all Mortgage Assets (excluding any Takeout Agreements, Takeout Commitments or Hedging Arrangements that by their express terms prohibit Seller’s assigning, pledging or granting a security interest in them if and to the extent that such
prohibition is not made ineffective by UCC §§ 9-406 or 9-408) against all adverse claims and demands of all Persons whomsoever. Seller shall do all things
necessary to preserve the Mortgage Assets so that such Mortgage Assets (excluding any Takeout Agreements, Takeout Commitments or Hedging Arrangements that by their express terms prohibit Seller’s assigning, pledging or granting a security
interest in them if and to the extent that such prohibition is not made ineffective by UCC §§ 9-406 or 9-408) remain subject to a first priority perfected Lien
hereunder, excluding Hedging Arrangements that cover both Purchased Mortgage Loans and Mortgage Loans that are subject to another Available Warehouse Facility, as to which Seller will do all things necessary to keep Buyer’s Lien pari
passu with the Lien of the counterparty to such other Available Warehouse Facility. 
 (n) Limitation on Sale of Assets. Seller
shall not convey, sell, lease, assign, transfer or otherwise dispose of (collectively, “Transfer”) all or substantially all of its property, business or assets (including receivables and leasehold interests) whether now owned or
hereafter acquired, other than sales of Mortgage Loans and related assets in the ordinary course of Seller’s loan origination and servicing business. 

(o) Loan Determined to be Defaulted or Defective. Upon discovery by Seller that any Purchased Mortgage Loan is a Defaulted Loan or a
Defective Mortgage Loan, Seller shall promptly give notice of such discovery to Buyer. 

  
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 (p) Further Assurances. Seller agrees to do such further acts and things and to
execute and deliver to Buyer such additional assignments, acknowledgments, agreements, powers and instruments as are reasonably required by Buyer to carry into effect the intent and purposes of this Agreement and the other Transaction Documents, to
perfect the interests of Buyer in the Mortgage Assets or to better assure and confirm unto Buyer its rights, powers and remedies hereunder and thereunder. 

(q) Hedging Arrangements. Seller shall maintain Hedging Arrangements with respect to all Mortgage Loans not the subject of Takeout
Commitments in order to mitigate, in accordance with Seller’s hedging strategy, the risk that the Market Value of any such Mortgage Loan will change as a result of a change in interest rates or the market for mortgage loan assets before the
Mortgage Loan is purchased by an Approved Takeout Investor or repurchased by Seller. 
 (r) Underwriting Guidelines. Seller will
underwrite Eligible Mortgage Loans in compliance with its underwriting guidelines. Seller will not change its underwriting guidelines in any material respect (i) except as may be required from time to time to comply with Agency Guidelines and
(ii) without giving Buyer prior written notice of such changes,. 
 (s) Mergers, Acquisitions, Subsidiaries. Without the prior
written consent of Buyer, Seller will not consolidate or merge with or into any entity (unless Seller is the surviving entity and any of Seller’s Subsidiaries may merge with or into Seller). Seller shall not create, form or acquire any
Subsidiary not listed in Exhibit F, unless (i) such Subsidiary engages only in the loan origination, loan servicing, loan escrow or settlement business or a closely related business or a business incidental to the foregoing and
(ii) Seller has given Buyer notice of such creation, formation or acquisition as and when required under Section 11(e)(iii) of this Agreement. 

(t) UCC. Seller will not change its name, organizational type or location (within the meaning of
Section 9-307 of the UCC) unless it shall have (i) given Buyer at least 10 Business Days’ prior written notice thereof and (ii) delivered to Buyer all financing statements, amendments,
instruments, legal opinions and other documents requested by Buyer in connection with such change. Seller will keep its principal place of business and chief executive office at the location specified in Section 15, and the
office where it maintains any physical records of the Purchased Mortgage Loans at a corporate facility of Seller, or, in any such case, upon ten (10) Business Days’ prior written notice to Buyer, at another location within the United
States. 
 (u) Takeout Commitments. Except to the extent superseded by this Agreement, Seller covenants that it shall continue to
perform all of its duties and obligations to the Approved Takeout Investor, under any applicable Takeout Commitment and Takeout Agreement and otherwise, with respect to a Purchased Mortgage Loan as if such Mortgage Loan were still owned by Seller
and to be sold directly by Seller to the Approved Takeout Investor pursuant to such Takeout Commitment on the date provided therein without the intervening ownership of Buyer pursuant to this Agreement. Without limiting the generality of the
foregoing, Seller shall timely assemble all records and documents concerning the Mortgage Loan required under any applicable Takeout Commitment (except that photocopies instead of originals shall be used for those documents already provided to
Custodian in the Asset File) and all other documents and information that may have been required or requested by the Approved Takeout Investor, and Seller shall make all representations and warranties required to be made to the Approved Takeout
Investor under the applicable Takeout Commitment and Takeout Agreement. 

  
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 (v) Financial Covenants. 

(i) Leverage Ratio. Seller shall not permit the Leverage Ratio of Seller (and, if applicable, its Subsidiaries, on a consolidated
basis) to exceed 15.0 to 1.0 computed as of the end of each calendar month. 
 (ii) Minimum Adjusted Tangible Net Worth. Seller shall
not permit the Adjusted Tangible Net Worth of Seller (and, if applicable, its Subsidiaries, on a consolidated basis), computed as of the end of each calendar month, to be less than One Hundred Ninety Million Dollars ($190,000,000). 

(iii) Maintenance of Liquidity. Seller shall have Liquidity of at least Twenty Million Dollars ($20,000,000) on the last Business Day of
each month. 
 (iv) Maintenance of Available Warehouse Facilities. Seller shall maintain at all times Available Warehouse Facilities
from buyers and lenders other than Buyer such that the Available Warehouse Facility under this Agreement constitutes no more than fifty percent (50%) of Seller’s aggregate Available Warehouse Facilities. 

(v) Net Income. Seller shall not permit its net income before taxes for any calendar quarter on a trailing four-quarter basis, to be
less than One Dollar ($1) and shall have no more than two (2) consecutive fiscal quarters of pre-tax net income losses. 
 (w) Use of
Proceeds. Seller (i) will not request any Transaction, and (ii) will not use, and will ensure that its Subsidiaries and its and their respective directors, members, managers, partners, officers, employees and agents do not use, the
proceeds of any Transaction, (x) in furtherance of an offer, payment, promise to pay or authorization of the payment or giving of money or anything else of value to any Person in violation of the Anti-Corruption Laws, (y) for the purpose
of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person or in any Sanctioned Country or (z) in any manner that would result in the violation of any Sanctions. 

(x) Government Regulation. Seller will not (1) be or become subject at any time to any Requirement of Law (including the U.S.
Office of Foreign Asset Control list) that prohibits or limits Buyer from entering into any Transaction, or otherwise conducting business, with Seller or (2) fail to provide documentary and other evidence of Seller’s identity as may be
requested by Buyer at any time to enable Buyer to verify Seller’s identity or to comply with any applicable Requirement of Law, including Section 326 of the USA Patriot Act of 2001, 31 U.S.C. Section 5318 and the Anti-Corruption Laws.

 12. Events of Default; Remedies. 
 (a)
Each of the following events shall, upon its occurrence and during its continuance, be an “Event of Default”: 

  
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 (i) (A) Seller fails to remit any Price Differential or Repurchase Price when due to Buyer
pursuant to the terms hereof or fails to cure any Margin Deficit as provided in Section 4; or (B) Seller fails to remit when due any Income, fees, escrow payment or any other amount due to Buyer pursuant to the terms
hereof or any other Transaction Document and such failure continues unremedied for a period of two (2) Business Days; or 
 (ii) Seller
fails to repurchase any Purchased Mortgage Loan at the time and for the amount required hereunder; or 
 (iii) (A) any representation or
warranty made by Seller or any Guarantor in this Agreement or any other Transaction Document is untrue, inaccurate or incomplete in any material respect (each such representation or warranty, a “Materially False Representation”) on
or as of the date made; provided that if any representation or warranty in Section 10(a)(i) or Section 10(b) or on Exhibit B (a “Loan Level Representation”) was when
made, or has become, a Materially False Representation, then that Materially False Representation will not constitute a Default or an Event of Default — although such Materially False Representation will cause each affected Purchased
Mortgage Loan to cease to be an Eligible Mortgage Loan and Seller shall be obligated to repurchase it from Buyer promptly after learning from any source of its ineligibility — unless both (1) such Loan Level Representation relates to five
(5) or more Purchased Mortgage Loans and (2) when such Loan Level Representation was made, a Responsible Officer of Seller had actual knowledge that it was being made and that it was untrue, inaccurate or incomplete in a material respect,
in which event such Materially False Representation will constitute an Event of Default; or 
 (B) any information contained in any
written statement, report, financial statement or certificate made or delivered by Seller or any Guarantor (either before or after the date hereof) to Buyer pursuant to the terms of this Agreement or any other Transaction Document is untrue or
incorrect in any material respect as of the date when made or deemed made; or 
 (iv) Seller shall fail to comply with any of the
requirements set forth in Section 11(d) (Inspection of Properties and Books), Section 11(o) (Loan Determined to be Defaulted or Defective) or Section 11(v) (Financial
Covenants); or 
 (v) Seller or any Guarantor, as applicable, shall fail to observe, keep or perform any material duty, responsibility or
obligation imposed or required by this Agreement or any other Transaction Document other than one of the Events of Default specified or described in another section of this Section 12(a)), and such failure continues
unremedied for a period of ten (10) Business Days; or 
 (vi) any Act of Insolvency occurs with respect to Seller, any of its
Subsidiaries or any Guarantor; or 

  
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 (vii) one or more final judgments or decrees are entered against Seller, any of its
Subsidiaries or any Guarantor for the payment of money in excess of Five Million Dollars ($5,000,000) (net of the portion thereof, if any, covered by insurance and the same shall not be vacated, discharged (or provisions satisfactory to Buyer shall
not be made for such discharge), satisfied or stayed or bonded pending appeal, within thirty (30) days from the date of entry thereof, and Seller, such Subsidiary or Guarantor, as applicable, shall not within said period of thirty
(30) days or such longer period during which execution of same shall have been stayed by court order or by written agreement with the judgment creditor, perfect appeal therefrom and cause execution thereof to be stayed during such appeal; or

 (viii) any Agency, private investor or any other Person seizes or takes control of any material portion of the servicing portfolio of its
Mortgage Loans being serviced by Seller or any of its Subsidiaries for breach of any servicing agreement applicable to such servicing portfolio or for any other reason whatsoever; or 

(ix) any Agency or Governmental Authority revokes or materially restricts the authority of Seller to Originate, purchase, sell or service
Mortgage Loans, or Seller shall fail to meet all requisite servicer eligibility qualifications promulgated by any Agency; or 
 (x) there is
a default that has continued beyond any grace or cure period under any agreement other than a Transaction Document that Seller or any Guarantor, or any of their respective Subsidiaries, has entered into with Buyer or any of its Affiliates or
Subsidiaries if the effect of such default is to cause, or to permit such counterparty (or a trustee on behalf of such counterparty) to cause, Debt of Seller in excess of One Million Dollars ($1,000,000) to become or be declared due before its
stated maturity (upon the giving or receiving of notice, lapse of time or both, if applicable, or satisfaction of any other condition to acceleration, whether or not any such condition to acceleration has been satisfied); or 

(xi) Seller fails to pay when due any repurchase price, margin amount, price differential, principal, interest or other amount due on any other
Debt (including, without limitation, under any credit or repurchase, early purchase or similar facilities for the financing of its Mortgage Loans, mortgage servicing rights or servicing advances) in excess of Ten Million Dollars ($10,000,000),
individually or in the aggregate, beyond any period of grace provided, or there occurs any breach or default (beyond any period of grace provided) with respect to any material term of any such Debt in excess of Ten Million Dollars ($10,000,000),
individually or in the aggregate, if the effect of such failure, breach or default is to cause, or to permit the holder or holders thereof (or a trustee on behalf of such holder or holders) to cause, such Debt of Seller to become or be declared due
before its stated maturity (upon the giving or receiving of notice, lapse of time or both, if applicable, or satisfaction of any other condition to acceleration, whether or not any such condition to acceleration has been satisfied); provided
that if such breach or default is waived in writing by the holder of such Debt before Buyer has exercised any of its remedies under Section 12(b), no Event of Default shall be deemed to exist under this Agreement on account
of such waived breach or default; or 
 (xii) there is a Material Adverse Effect; or 

(xiii) (A) Seller or any Guarantor shall assert that any Transaction Document is not in full force and effect or shall otherwise seek to
terminate (other than a termination of this Agreement or any Transaction Document that is expressly permitted by this Agreement), or disaffirm its obligations under, any such Transaction Document at any time following the execution thereof or
(B) any Transaction Document ceases to be in full force and effect, or any of Seller’s or any Guarantor’s material obligations under any Transaction Document shall cease to be in full force and effect (other than as a result of any
termination of this Agreement or any Transaction Document that is expressly permitted by this Agreement), or the enforceability thereof shall be contested by Seller or any Guarantor; or 

  
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 (xiv) any Governmental Authority or any trustee, receiver or conservator 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 assets of Seller, any Subsidiary of Seller or any Guarantor, or shall
have taken any action to displace the management of Seller, any Subsidiary of Seller or any Guarantor or to curtail its authority in the conduct of the business of Seller, any Subsidiary of Seller or any Guarantor, or to restrict the payment of
dividends to Seller by any Subsidiary of Seller, and such action shall not have been discontinued or stayed within thirty (30) days; or 

(xv) any Change in Control of Seller shall have occurred without Buyer’s prior written consent; or 

(xvi) any failure by Seller to deliver assignments executed in blank to Buyer or its designee for each Purchased Mortgage Loan then held by
Buyer within ten (10) Business Days following any termination of Seller’s MERS membership; or 
 (xvii) a downgrade of any of
Seller’s or any of its Subsidiaries’ servicer ratings below the ratings held by Seller or such Subsidiary as of the date of this Agreement or, for ratings initiated after the date of this Agreement, below such initial ratings; or 

(xviii) the Pension Benefit Guaranty Corp. shall file notice of a Lien pursuant to Section 4068 of ERISA with regard to any of the assets
of Seller, any Guarantor or any of their respective Subsidiaries; or 
 (xix) Seller shall become subject to registration as an
“investment company” as defined in, or subject to regulation under, the Investment Company Act of 1940, as amended; or 
 (xx)
Buyer shall fail to have a valid and perfected first priority security interest in any of the Purchased Mortgage Loans, including the Servicing Rights thereto, or any other Mortgage Assets (excluding any Takeout Agreements, Takeout Commitments or
Hedging Arrangements that by their express terms prohibit Seller’s assigning, pledging or granting a security interest in them if and to the extent that such prohibition is not made ineffective by UCC §§
9-406 or 9-408), in each case free and clear of any other Lien (excluding Hedging Arrangements that cover both Purchased Mortgage Loans and Mortgage Loans that are
subject to another Available Warehouse Facility, as to which it will be an Event of Default if Buyer’s Lien shall fail or cease to be pari passu with the Lien of the counterparty to any such other Available Warehouse Facility). 

(b) If an Event of Default occurs, Buyer, at its option, may at any time or times thereafter while such Event of Default is continuing, elect
by written notice to Seller to do any or all of the following: 

  
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 (i) accelerate the Repurchase Date of each outstanding Transaction whose Repurchase Date has
not already occurred and cancel the Purchase Date for any Transaction whose Purchase Date has not yet occurred; 
 (ii) terminate and replace
Seller as interim servicer with respect to any Mortgage Assets at the cost and expense of Seller; 
 (iii) direct Seller to cause all Income
to be transferred into the Income Collection Account and all escrow payments received to be deposited in the Impound Collection Account within one (1) Business Day after receipt by Seller or any Subservicer; 

(iv) direct or cause Seller to direct, all Mortgagors to remit all Income directly to an account specified by Buyer; and 

(v) terminate any commitment of Buyer to purchase Mortgage Loans under this Agreement or otherwise. 

(c) If Buyer has exercised its option under Section 12(b)(i), then (i) Seller’s obligations hereunder to
repurchase all Purchased Mortgage Loans then subject to outstanding Transactions shall thereupon become immediately due and payable, (ii) to the extent permitted by applicable law, the Repurchase Price with respect to each such Transaction
shall be increased by the aggregate amount obtained by daily application of (x) the greater of (i) the Pricing Rate for such Transaction and (ii) the Prime Rate plus three percent (3%) to (y) the Repurchase Price for such
Transaction as of the accelerated Repurchase Date as determined pursuant to Section 12(b) (decreased as of any day by (A) any amounts retained by Buyer with respect to such Repurchase Price pursuant to
Section 12(b)(iii) and 12(b)(iv) and (B) any proceeds from the sale of Purchased Mortgage Loans pursuant to Section 12(d), on a 360 day per year basis for the actual number of days
during the period from and including the date of the Event of Default giving rise to such option to but excluding the date of payment of the Repurchase Price as so increased, (iii) all Income paid after such exercise or deemed exercise shall be
paid over to and retained by Buyer and shall be applied to the aggregate unpaid Repurchase Prices and all other amounts owed by Seller to Buyer or any other Indemnified Party under the Transaction Documents, (iv) in accordance with
Sections 4 and 5, all amounts on deposit in the Accounts, shall be applied by Buyer to the aggregate unpaid Repurchase Prices and all other amounts owed by Seller to Buyer or any other Indemnified Party under the
Transaction Documents, (v) Seller shall, if directed by Buyer in writing, immediately deliver to Buyer any documents then in Seller’s possession relating to any Purchased Mortgage Loans subject to such Transactions and (vi) Buyer may,
by notice to Seller, declare the Termination Date to have occurred. 
 (d) Upon the exercise by Buyer of its option under
Section 12(b)(i), without prior notice to Seller, Buyer may (A) immediately sell, on a servicing released or servicing retained basis as Buyer deems desirable, in a recognized market at such price or prices as Buyer
may in its sole discretion deem satisfactory, any or all Purchased Mortgage Loans subject to such Transactions and apply the proceeds thereof to the aggregate unpaid Repurchase Prices and any other amounts owing by Seller to Buyer or any other
Indemnified Party under the Transaction Documents or (B) in its sole discretion elect, in lieu of selling all or a portion of such Purchased Mortgage Loans, to give Seller credit for such Purchased Mortgage Loans in an amount equal to the
Market Value therefor on such date against the aggregate unpaid Repurchase Prices and any other amounts owing by Seller to Buyer or any other Indemnified Party under the Transaction Documents. 

  
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 (e) The proceeds of any disposition or the amount of any credit described above shall be
applied first, to the costs and expenses reasonably incurred by Buyer in connection with or as a result of an Event of Default (including reasonable legal fees and consulting fees, accounting fees, file transfer and inventory fees,
costs and expenses reasonably incurred in respect of a transfer of the servicing of the Purchased Mortgage Loans and costs and expenses reasonably incurred in connection with a disposition of the Purchased Mortgage Loans); second, to
costs of cover and/or related hedging transactions; third, to the aggregate and accrued Price Differential owed hereunder, fourth, to the remaining aggregate Repurchase Prices owed hereunder; fifth, to any
other accrued and unpaid obligations of Seller hereunder and under the other Transaction Documents and sixth, any remaining proceeds shall be paid to Seller or other Person legally entitled thereto. 

(f) The Parties acknowledge and agree that: 

(i) Buyer has no desire or intention to hold any of the Purchased Mortgage Loans for investment under any circumstances, and if (x) Seller
fails to repurchase any Purchased Mortgage Loan when required to do so by this Agreement, whether before or after its termination, or (y) any Event of Default has occurred and is continuing, and (z) Buyer has not made an affirmative
election under the circumstances then prevailing to retain such Purchased Mortgage Loan pursuant to clause (B) of Section 12(d), Buyer will sell it (i) if practicable and if the sale can be made without
Buyer’s having to undertake representation, warranty or other obligations that Buyer, acting in its sole discretion, considers unacceptable, to the relevant Approved Takeout Investor (if any), or (ii) by private sale to another Person in
the secondary mortgage market, undertaking only such representation, warranty and other obligations, if any, to such Person as Buyer, acting in its sole discretion, considers acceptable, at the earliest reasonable opportunity and for such price as
Buyer, acting in its sole discretion, determines to be the optimal price available at the time of such sale; provided that if at any time Buyer determines that the secondary market for residential mortgage loans is illiquid, disrupted or
dysfunctional, Buyer may elect to postpone sales of Purchased Mortgage Loans for so long as Buyer determines that any such market conditions persist, and no such delay shall be construed to constitute or require a change in the classification of the
Purchased Mortgage Loans in Buyer’s hands from “held for sale” to “held for investment”, and in all cases, to the maximum extent not prohibited by applicable law, their Market Value shall be the only “reasonable
determinant of value” of Purchased Mortgage Loans for purposes of Section 562 of the Bankruptcy Code; 
 (ii) in the absence
(whether because of market disruptions or for any other reason whatsoever) of a generally recognized source for secondary mortgage market prices of, or for bid or offer quotations for, any one or more Purchased Mortgage Loans at any time, whether
before or after any termination of this Agreement, Buyer may determine the Market Values of such Purchased Mortgage Loans using such means, methods, averaging, weighting, calculations and assumptions as it shall determine in its sole good faith
discretion to be appropriate, and Buyer’s determination shall be conclusive and binding, absent manifest error, for all purposes, it being the Parties’ specific intention to include therein the purposes of Sections 559 and 562 of the
Bankruptcy Code; 

  
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 (iii) except to the extent, if any, contrary to market practice, in determining values of
Purchased Mortgage Loans, Buyer shall include all related accrued Income available either to be transferred to a secondary market purchaser or to be retained by Buyer to reduce their Repurchase Prices; and 

(iv) in determining the Market Value of any Purchased Mortgage Loans, it is reasonable for Buyer to use and rely on the Asset Schedule provided
by Seller pursuant to Section 3(c) without being required to check or verify the accuracy or completeness of such information. 

(g) The Parties further recognize that if, under the circumstances described in clause (x) or clause (y) of
Section 12(f)(i), Buyer has elected to sell Purchased Mortgage Loans, the market for Mortgage Loans may then be insufficiently liquid or dysfunctional in other respects, they agree that Buyer may elect the time and manner
of liquidating any Purchased Mortgage Loan, and nothing contained herein shall obligate Buyer (i) to liquidate any Purchased Mortgage Loan immediately after Seller’s failure to repurchase it when required by this Agreement, the occurrence
of an Event of Default or any termination of this Agreement, or (ii) to liquidate all Purchased Mortgage Loans in the same manner or on the same day, and no exercise by Buyer of any right or remedy shall constitute a waiver of any other right
or remedy. 
 (h) To the extent permitted by applicable law, Seller shall be liable to Buyer for interest on any amount owing by Seller
hereunder that Seller has failed to pay when due, from the date such amount became due and payable until such amount is (i) paid in full by or on behalf of Seller or (ii) satisfied in full by the exercise of Buyer’s rights hereunder.
Interest on any sum payable by Seller to Buyer under this Section 12(h) shall be at a rate equal to the greater of (x) the Pricing Rate for the relevant Transaction and (y) the Prime Rate plus three percent (3%).

 (i) If an Event of Default occurs and is continuing, Buyer shall have, in addition to its rights hereunder, any rights otherwise available
to it under any other agreement entered into in connection with the Transactions contemplated by this Agreement, under applicable law or in equity. 

(j) Seller hereby acknowledges, admits and agrees that Seller’s obligations under this Agreement are recourse obligations of Seller. 

13. Servicing Rights Are Owned by Buyer; Interim Servicing of the Purchased Mortgage Loans 

(a) As a condition of purchasing an Eligible Mortgage Loan, Buyer hereby engages Seller to interim service such Purchased Mortgage Loan as
agent for Buyer for a term (the “Interim Servicing Term”) commencing on the Purchase Date of such Purchased Mortgage Loan and ending on the second Remittance Date thereafter, as such term may be renewed from time to time as provided
in Section 13(a)(vi), on the following terms and conditions: 

  
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 (i) Seller shall interim service and temporarily administer the Purchased Mortgage Loan 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 all applicable requirements of the Agencies, Requirements of Law, the provisions
of any applicable servicing agreement, and the requirements of any applicable Takeout Agreement and the Approved Takeout Investor, so that the eligibility of the Purchased Mortgage Loan for purchase under such Takeout Agreement is not voided or
reduced by such interim servicing and temporary administration; 
 (ii) If any Eligible Mortgage Loan that is proposed to be sold on a
Purchase Date is serviced by a servicer other than Seller or any of its Affiliates (a “Subservicer”), or if the interim servicing of any Purchased Mortgage Loan is to be transferred to a Subservicer, Seller shall provide a copy of
the related subservicing agreement and a Subservicer Instruction Letter executed by such Subservicer (collectively, the “Subservicing Agreement”) to Buyer before such Purchase Date or interim servicing transfer date, as applicable.
Each such Subservicing Agreement shall be in form and substance reasonably acceptable to Buyer. In addition, Seller shall have obtained the prior written consent of Buyer for such Subservicer to subservice the Purchased Mortgage Loans, which consent
shall not be unreasonably withheld. The Parties acknowledge and agree that as of the date of this Agreement, Seller has engaged Cenlar FSB as Subservicer to perform Seller’s obligations to interim service a portion of the Purchased Mortgage
Loans, and Buyer consents to Cenlar FSB acting as Subservicer, provided that Cenlar FSB and Seller execute a Subservicer Instruction Letter. 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 interim servicing such Purchased Mortgage Loans directly. Any termination of Seller as interim servicer shall automatically terminate each Subservicer. If any Agency or Governmental
Authority revokes or materially restricts any Subservicer’s authority to service Mortgage Loans, or if any Subservicer shall fail to meet all requisite servicer eligibility qualifications promulgated by any Agency, Buyer may direct Seller to
immediately terminate such Subservicer as a subservicer of any or all of the Purchased Mortgage Loans and Seller shall promptly cause the termination of such Subservicer as directed by Buyer. 

(iii) Seller acknowledges that it has no right, title or interest in the Servicing Rights for any Purchased Mortgage Loan, and agrees that
Seller may not transfer or assign any rights to master service, service, interim service, subservice or administer any Purchased Mortgage Loan before Seller’s repurchase thereof from Buyer (by payment to Buyer of the Repurchase Price therefor)
other than an interim servicing transfer to a Subservicer approved by Buyer pursuant to a Subservicing Agreement approved by Buyer as described above in this Section 13. 

(iv) Seller shall deliver all physical and contractual servicing materials, files and records for the servicing of each Purchased Mortgage
Loan, together with all of the related Servicing Records that are not already in Buyer’s possession, to Buyer’s designee upon the earliest of (x) the occurrence of a Default or Event of Default hereunder unless Buyer gives written
notice to Seller that the Interim Servicing Term is renewed and specifying the renewal term, (y) the termination of Seller as interim servicer by Buyer pursuant to Section 13(a)(v) or (z) the expiration (and non-renewal) of the Interim Servicing Term. Seller’s transfer of the Servicing Records and the physical and such contractual servicing materials, files and records under this
Section 13(a)(iv) shall be in accordance with customary standards in the industry and such transfer shall include the transfer of the gross amount of all escrows held for the related mortgagors (without reduction for
unreimbursed advances or “negative escrows”). 

  
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 (v) Buyer shall have the right, exercisable by giving written notice to Seller, to terminate
Seller as interim servicer of any of the Purchased Mortgage Loans at any time Seller or Subservicer fails to perform Seller’s obligations under this Section 13. 

(vi) The Interim Servicing Term will be deemed renewed (when it would otherwise expire) on each Remittance Date following the second Remittance
Date after the related Purchase Date for a renewal term extending to the next succeeding Remittance Date unless (i) Seller has sooner been terminated as interim servicer of all of the Purchased Mortgaged Loans pursuant to
Section 13(a)(v), or (ii) an Event of Default has occurred and is continuing, in which latter event the Interim Servicing Term will expire on the earlier of (x) the termination date specified in a Buyer’s notice
to Seller terminating the Interim Servicing Term or (y) such Remittance Date unless Buyer gives written notice to Seller that the Interim Servicing Term is renewed and specifying the renewal term. 

(vii) The Interim Servicing Term will automatically terminate and Seller shall have no further obligation to interim service such Purchased
Mortgage Loan as agent for Buyer or to make the delivery of documents required under this Section 13, upon receipt by Buyer of the Repurchase Price therefor. 

(viii) Buyer has no obligation to pay Seller a fee for the interim servicing obligations Seller agrees to assume hereunder, no fee or other
compensation will ever accrue or be or become owing, due or payable for or on account of such interim servicing and such interim servicing rights have no monetary value. 

(b) During the period Seller is interim servicing the Purchased Mortgage Loans as agent for Buyer, Seller agrees that Buyer is the owner of the
related Servicing Rights, Credit Files and Servicing Records and Seller, acting as interim servicer, shall at all times maintain and safeguard, and cause any Subservicer to maintain and safeguard, the Credit File for the Purchased Mortgage Loan
(including photocopies or images of the documents delivered to Buyer), and accurate and complete records of its interim servicing of the Purchased Mortgage Loan, Seller’s possession of the Credit Files and Servicing Records being for the sole
purpose of interim servicing such Purchased Mortgage Loans and such retention and possession by Seller being in a temporary custodial capacity only. 

(c) Seller further covenants as follows: 

(i) Buyer may, at any time during Seller’s business hours on reasonable notice (provided that after the occurrence and during the
continuance of a Default or an Event of Default, no notice shall be required), examine and make copies of all such documents and records relating to interim servicing and administration of the Purchased Mortgage Loans; 

  
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 (ii) At Buyer’s request, Seller shall promptly deliver to Buyer reports regarding the
status of any Purchased Mortgage Loan being interim serviced by Seller, which reports shall include a description of any event that would cause the Purchased Mortgage Loan to become a Defaulted Loan or a Defective Mortgage Loan or any other
circumstances that could cause a material adverse effect on such Purchased Mortgage Loan, Buyer’s title to such Purchased Mortgage Loan or the collateral securing such Purchased Mortgage Loan; Seller may be required to deliver such reports
until the repurchase of the Purchased Mortgage Loan by Seller; 
 (iii) Seller shall immediately notify Buyer if it becomes aware of any
payment default that occurs under any Purchased Mortgage Loan or any default under any Subservicing Agreement that would materially and adversely affect any Purchased Mortgage Loan subject thereto; and 

(iv) If, during the Post-Origination Period, any Mortgagor contacts Seller requesting a payoff quote on the related Purchased Mortgage Loan,
Seller shall ensure that any payoff quote provided requires Mortgagor to wire payoff funds directly to the Funding Account and includes wiring instructions therefor. 

(d) Seller shall release its custody of the contents of any Credit File or any Asset File only (i) pursuant to the provisions of this
Agreement and the Custodial Agreement, (ii) in accordance with the written instructions of Buyer, (iii) to a Subservicer approved by Buyer, (iv) when such release is required as incidental to Seller’s servicing of the Purchased
Mortgage Loan, or is required to complete its sale to an Approved Takeout Investor or comply with the Takeout Guidelines or (iv) as required by any Requirement of Law. 

(e) Buyer reserves the right to appoint a successor interim servicer, or a regular servicer, to commence the servicing of the Purchased
Mortgage Loans (each a “Successor Servicer”) upon the termination of Seller’s right to interim service the Purchased Mortgage Loans pursuant to Section 13(a)(v) or the expiry or termination of the
Interim Servicing Term pursuant to Section 13(a)(vi). If Buyer elects to make such an appointment after the occurrence of a Default or an Event of Default, Seller shall be assessed all costs and expenses incurred by Buyer
associated with transferring the physical and contractual servicing materials, files and records for the servicing of each Purchased Mortgage Loan, together with all related Servicing Records, to the Successor Servicer. In the event of such an
appointment, Seller shall perform all acts and take all action so that any part of the Credit File and related Servicing Records held by Seller, together with any and all mortgagors’ escrow payments held in any account and all other receipts
relating to such Purchased Mortgage Loan, are promptly delivered to the Successor Servicer, and shall otherwise fully cooperate with Buyer in effectuating such transfer. Seller shall have no claim for lost interim servicing income, any termination
fee, lost profits or other damages if Buyer appoints a Successor Servicer hereunder. Buyer may, in its sole discretion if an Event of Default shall have occurred and be continuing, without payment of any termination fee or any other amount to Seller
or any Subservicer, sell any or all of the Purchased Mortgage Loans on a servicing released basis, at the sole cost and expense of Seller. 

  
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 (f) In the event Seller is terminated as interim servicer of any Purchased Mortgage Loan,
whether by expiry of the Interim Servicing Term or by any other means described in this Section 13, Seller shall cooperate with Buyer in effecting such termination and transferring all authority to interim service such
Purchased Mortgage Loan to the Successor Servicer. Without limiting the generality of the foregoing, Seller shall, in the manner and at such times as the Successor Servicer or Buyer shall reasonably request (i) promptly transfer all data in its
possession relating to the applicable Purchased Mortgage Loans and other Mortgage Assets to the Successor Servicer in such electronic format as the Successor Servicer may reasonably request, (ii) promptly transfer to the Successor Servicer,
Buyer or Buyer’s designee all other files, records, correspondence and documents relating to the applicable Purchased Mortgage Loans and other Mortgage Assets and (iii) fully cooperate and coordinate with the Successor Servicer and/or
Buyer to comply with any applicable so-called “goodbye” letter requirements, notices or other applicable requirements of the Real Estate Settlement Procedures Act or other applicable Requirements of
Law applicable to the transfer of the servicing of the applicable Purchased Mortgage Loans. Seller agrees that if Seller fails to cooperate with Buyer or any Successor Servicer in effecting the termination of Seller as servicer of any Purchased
Mortgage Loan or the transfer of all authority to service such Purchased Mortgage Loan to such Successor Servicer in accordance with the terms hereof, Buyer will be irreparably harmed and entitled to injunctive relief and shall not be required to
post bond. 
 (g) Notwithstanding anything to the contrary in any Transaction Document, Seller and Buyer agree that all Servicing Rights with
respect to the Purchased Mortgage Loans are being transferred hereunder to Buyer on the applicable Purchase Date, the Purchase Price for the Purchased Mortgage Loans includes full and fair consideration for such Servicing Rights and such Servicing
Rights will be conclusively deemed to be transferred by Buyer to Seller upon Seller’s payment of the Repurchase Price for such Purchased Mortgage Loans. 

14. Single Agreement 
 Buyer and Seller
acknowledge that, and have entered into this Agreement and will enter into each Transaction hereunder in consideration of and in reliance upon the fact that, all Transactions hereunder, together with the provisions of the Side Letter, 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 its obligations
under the Side Letter, 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 or any obligations under the Side Letter and (iii) that payments, deliveries and other transfers made by either of them in
respect of any Transaction or any agreement under the Side Letter shall be deemed to have been made in consideration of payments, deliveries and other transfers in respect of any other Transactions hereunder or any agreement under the Side Letter,
and the obligations to make any such payments, deliveries and other transfers may be applied against each other and netted. 

  
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 15. Notices and Other Communications 

Except as otherwise expressly provided herein, all such notices, statements, demands or other communications shall be in writing and shall be
deemed to have been duly given and received (i) if sent by facsimile, upon the sender’s receipt of confirmation of transmission of such facsimile from the sending facsimile machine or (ii) if emailed, upon confirmation of receipt by
the recipient (including by the recipient’s replying to the email or by the sender’s receiving a read receipt when the sender has chosen MS Outlook’s “request a read receipt” option, or a substantially similar option under
another email program, for the email when sent), provided that for both clauses (i) and (ii), if such transmission-confirmed facsimile is sent or such read receipt is received outside of the recipient’s normal business hours, the
faxed or emailed communication shall be deemed received at the opening of business on the next Business Day, or (iii) if hand delivered, when delivery to the address below is made, as evidenced by a confirmation from the applicable courier
service of delivery to such address, but without any need of evidence of receipt by the named individual required and (iv) if mailed by Express Mail or sent by overnight courier, on the following Business Day, in each case addressed as follows:

 if to Seller: 

loanDepot.com LLC 
 26642 Towne
Centre Drive 
 Foothill Ranch, California 92610 

Attention: Bryan Sullivan, Chief Financial Officer 

Phone: (949) 470-6206 

email: bsullivan@loandepot.com 

if to Buyer: 
 JPMorgan Chase
Bank, N.A. 
 712 Main Street, 3rd Floor North 

Houston, Texas 77002 
 Attention:
Jason Richards 
 Phone: (713) 216-3019 

Fax: (713) 216-2818 

email: jason.k.richards@jpmorgan.com 

with copies to: 
 JPMorgan Chase
Bank, N.A. 
 Mortgage Warehouse Finance Operations 

Attn: MWF Operations Team 
 TX1-0022 
 14800 Frye Road, 2nd Floor 

Fort Worth, TX 76155 
 Attention:
Veronica J. Chapple 
 Phone: (817) 399-4849 

Fax: (817) 399-6890 

email:vickie.j.chapple@jpmorgan.com 
 Either Party
may revise any information relating to it by notice in writing to the other Party given in accordance with the provisions of this Section 15. 

  
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 16. Fees and Expenses; Indemnity 

(a) Seller will pay its own legal and accounting fees and other costs incurred in respect of this Agreement, the other Transaction Documents
and this facility. Seller will promptly pay all out-of-pocket costs and expenses reasonably incurred by Buyer, including reasonable attorneys’ fees, in connection
with (i) preparation, negotiation, and documentation of this Agreement and the other Transaction Documents, (ii) administration of this Agreement and the other Transaction Documents and any amendment or waiver thereto and purchase and
resale of Mortgage Loans by Buyer hereunder, (iii) protection of the Purchased Mortgage Loans (including all costs of filing or recording any assignments, financing statements, amendments and other documents), (iv) performance of due diligence
and audits in respect of Mortgage Loans purchased or proposed for purchase hereunder and Seller’s and any Guarantor’s business and finances, by Buyer or any agent of Buyer, conducted before and after the date hereof, (v) enforcement
of Buyer’s rights hereunder and under any other Transaction Document (including costs and expenses suffered or incurred by Buyer in connection with any Act of Insolvency related to Seller or any Guarantor, appeals and any anticipated
post-judgment collection services), (vi) entering into replacement transactions and entering into or terminating hedge transactions in connection with or as a result of an Event of Default, including all fees, expenses and commissions reasonably
incurred, and (vii) any cost or expense reasonably incurred, directly or indirectly arising or resulting from the occurrence of an Event of Default. 

(b) In addition to its other rights hereunder, Seller shall indemnify Buyer and Buyer’s Affiliates and Subsidiaries and their respective
directors, officers, agents, advisors and employees (each, an “Indemnified Party” and collectively, the “Indemnified Parties”) against, and hold Buyer and each of them harmless from, any losses, liabilities,
damages, claims, costs and expenses (including reasonable attorneys’ fees and disbursements) suffered or incurred by any Indemnified Party (“Losses”) relating to or arising out of this Agreement, any other Transaction Document
or any other related document, or any transaction contemplated hereby or thereby or any use or proposed use of proceeds thereof and amendment or waiver thereof, or any breach by Seller, any Guarantor or any Subservicer engaged by Seller of any
covenant, representation or warranty contained in any of such documents, or arising out of, resulting from, or in any manner connected with, the purchase by Buyer of any Purchased Mortgage Loan or the servicing of any Purchased Mortgage Loans by
Seller or any Subservicer; provided that Seller shall not be required to indemnify any Indemnified Party to the extent such Losses result from the gross negligence or willful misconduct of such Indemnified Party. The provisions of this
Section 16 shall survive the termination of this Agreement. 
 17. Shipment to Approved Takeout Investor 

If Seller desires that Custodian send an Asset File to an Approved Takeout Investor in connection with Seller’s repurchase of the related
Purchased Mortgage Loan, then Seller shall prepare and send to Custodian written shipping instructions pursuant to Section 10 (Shipment of Documents) of the Custodial Agreement instructing Custodian when and how to send
such Asset File to such Approved Takeout Investor or its designee. If Seller instructs Custodian to send an Asset File before the Repurchase Date, Custodian will send the Asset File under a Bailee Letter as provided in the Custodial Agreement. 

  
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 18. Buyer as
Attorney-in-Fact 
 Buyer is hereby appointed the attorney-in-fact of Seller for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instruments that Buyer may, in good faith,
deem necessary or advisable to accomplish the purposes hereof, including (i) receiving, endorsing and collecting all checks made payable to the order of Seller representing any Income on any of the Purchased Mortgage Loans and giving full
discharge for the same, (ii) perfecting and continuing the Lien granted by this Agreement and (iii) protecting, preserving and realizing on the Mortgage Assets, which appointment as attorney-in-fact is irrevocable and coupled with an interest. Buyer agrees to not exercise the power granted by this Section 18 unless an Event of Default has occurred and is
continuing; provided that Buyer may add and amend endorsements in Seller’s name of Mortgage Notes either in blank or to any Approved Takeout Investor or its designee, cancel endorsements and
re-endorse Mortgage Notes in Seller’s name at any time before or after any Event of Default shall have occurred. 

19. Wire Instructions 
 (a) Unless
otherwise specified in this Agreement, any amounts to be transferred by Buyer to Seller hereunder shall be sent by wire transfer in immediately available funds to the account of Seller at: 

“            ” 

(b) Any amounts to be transferred by Seller to Buyer hereunder shall be sent by wire transfer in immediately available funds to the account of
Buyer at: 
 “            ” 

(c) Amounts received after 3:00 p.m. (Eastern time) on any Business Day shall be deemed to have been paid and received on the next
succeeding Business Day. 
  

	20.	 Entire Agreement; Severability 

This Agreement, as supplemented by the Side Letter, supersedes any existing agreements between the Parties containing terms and conditions for
Mortgage Loan repurchase transactions. Each provision and agreement of this Agreement and the other Transaction Documents shall be treated as separate and independent from any other provision or agreement of this Agreement and the other Transaction
Documents and shall be enforceable notwithstanding the unenforceability of any of such other provisions or agreements. Without limiting the generality of the foregoing, if any phrase or clause of any Transaction Document would render any provision
or agreement of this (or any other) Transaction Document unenforceable, such phrase or clause shall be disregarded and deemed deleted, and such provision shall be enforced as fully as if the offending phrase or clause had never appeared. 

  
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 21. Assignments; Termination 

(a) The rights and obligations of Seller under this Agreement and under any Transaction shall not be assigned by Seller without the prior
written consent of Buyer and any such assignment without the prior written consent of Buyer shall be null and void. 
 (b) Buyer may assign
all or any portion of its rights, obligations and interest under this Agreement and in the Mortgage Assets at any time without the consent of any Person, provided that any such assignment, other than an assignment to an Affiliate of Buyer, is
subject to the prior written consent of Seller so long as an Event of Default or Default has not occurred and is not continuing. Any such assignment shall be in a minimum amount of at least Five Million Dollars ($5,000,000) unless otherwise
consented to by Seller; provided that Seller’s consent shall not be required if an Event of Default or Default has occurred and is continuing. Resales of Purchased Mortgage Loans by Buyer (subject to (i) Seller’s right to
repurchase the Purchased Mortgage Loans before termination of this Agreement or Buyer’s liquidation of the Purchased Mortgage Loans pursuant to Section 12 and (ii) Buyer’s obligation to deliver the same to
Seller or its designee upon receipt of the Repurchase Price therefor) in accordance with applicable law, shall be permitted without restriction, provided that no such sale shall release Buyer from any of its obligations under this Agreement or
substitute any such purchaser from Buyer for Buyer as a party to this Agreement. Buyer may sell participation interests in all or any portion of its rights, obligations and interest under this Agreement and in the Mortgage Assets to any Person at
any time without the consent of any Person, provided that no such sale shall release Buyer from any of its obligations under this Agreement or substitute any such purchaser of a participation interest from Buyer for Buyer as a party to this
Agreement. In addition to, and notwithstanding any provision to the contrary in, the foregoing, Buyer may assign its rights to enforce this Agreement as to any Mortgage Loan to any Person that subsequently purchases such Mortgage Loan from Buyer or
provides financing to Buyer with respect to such Mortgage Loan, provided that no such assignment shall release Buyer from any of its obligations under this Agreement or substitute any such assignee for Buyer as a party to this Agreement. 

(c) In addition to the foregoing, Buyer may, at any time in its sole discretion, pledge or grant a Lien in all or any portion of its rights
under this Agreement (including any rights to Mortgage Assets and any rights to payment of the Repurchase Price) to secure obligations to a Federal Reserve Bank, without notice to or consent of Seller; provided that no such pledge or grant of
a security interest would release Buyer from any of its obligations under this Agreement, or substitute any such pledgee or grantee for Buyer as a party to this Agreement. 

(d) Subject to the foregoing, this Agreement and any Transactions shall bind and benefit the Parties and their respective successors and
assigns. 
 (e) Notwithstanding any of the foregoing provisions of this Section 21, Buyer shall not be precluded
from assigning, charging or otherwise dealing with all or any part of its interest in any sum payable to it under Section 12. 

  
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 (f) This Agreement and all Transactions outstanding hereunder shall terminate automatically
without any requirement for notice on the date occurring on or after the Termination Date on which all Repurchase Prices and all other obligations of Seller under the Transaction Documents have been paid in full. 

22. Counterparts; Signatures 
 (a) This
Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. 

(b) Delivery of an executed counterpart of a signature page of this Agreement or any other Transaction Document by telecopy, emailed pdf or any
other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Agreement. The words “execution”, “signed”, “signature”,
“delivery” and words of like import in or relating to any document to be signed in connection with this Agreement and the transactions contemplated hereby shall be deemed to include electronic signatures, deliveries or the keeping of
records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent
and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any other similar state laws based on the Uniform Electronic
Transactions Act; provided that nothing herein shall require Buyer to accept electronic signatures in any form or format without its prior written consent. 

23. GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL 

(a) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO THE
CONFLICT OF LAWS PRINCIPLES THEREOF (EXCEPT FOR SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

(b) SELLER HEREBY SUBMITS TO THE NONEXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND OF
ANY NEW YORK STATE COURT SITTING IN THE CITY OF NEW YORK FOR PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. SELLER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY
EFFECTIVELY DO SO, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.
NOTHING IN THIS SECTION 23 SHALL AFFECT THE RIGHT OF BUYER TO BRING ANY ACTION OR PROCEEDING AGAINST EITHER SELLER OR ITS PROPERTY IN THE COURTS OF OTHER JURISDICTIONS. EACH PARTY CONSENTS TO THE SERVICE OF ANY AND ALL
PROCESS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES OF SUCH PROCESS TO IT AT ITS ADDRESS FOR NOTICES HEREUNDER SPECIFIED IN SECTION 15. 

  
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 (c) EACH OF SELLER AND BUYER (BY ITS ACCEPTANCE HEREOF) HEREBY VOLUNTARILY, KNOWINGLY,
IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE (WHETHER BASED ON CONTRACT, TORT, OR OTHERWISE) BETWEEN SELLER AND BUYER ARISING OUT OF OR IN ANY WAY RELATED TO THIS AGREEMENT OR ANY OTHER
TRANSACTION DOCUMENT. THIS PROVISION IS A MATERIAL INDUCEMENT TO BUYER TO PROVIDE THE FACILITY PROVIDED FOR IN THIS AGREEMENT. 
 24. 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 Buyer 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 4(a) will not constitute a waiver of
any right to do so at a later date. 
 25. Use of Employee Plan Assets 

(a) If assets of an employee benefit plan subject to any provision of ERISA are intended to be used by Seller in a Transaction (each, an
“ERISA Transaction”), Seller shall so notify Buyer before such ERISA Transaction. Seller shall represent in writing to Buyer that the ERISA Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt
therefrom, and Buyer may proceed in reliance thereon but shall not be required so to proceed. 
 (b) Subject to the last sentence of
Section 25(a), any such ERISA Transaction shall proceed only if Seller furnishes or has furnished to Buyer its most recent available audited statement of its financial condition and its most recent subsequent unaudited
statement of its financial condition. 
 (c) By entering into an ERISA Transaction pursuant to this Section 25,
Seller shall be deemed (i) to represent to Buyer that since the date of Seller’s latest such financial statements, there has been no material adverse change in Seller’s financial condition that Seller has not disclosed to Buyer, and
(ii) to agree to provide Buyer with future audited and unaudited statements of its financial condition as they are issued, so long as any such ERISA Transaction is outstanding. 

  
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 26. Intent 

(a) The Parties intend and acknowledge that each Transaction is a “repurchase agreement” as that term is defined in Section 101
of the Bankruptcy Code, and a “securities contract” as that term is defined in Section 741 of the Bankruptcy Code. Seller hereby agrees that it shall not challenge the characterization of this Agreement as a “repurchase
agreement” as that term is defined in Section 101 of the Bankruptcy Code, or as a “securities contract” as that term is defined in Section 741 of the Bankruptcy Code in any dispute or proceeding. 

(b) It is understood that either Party’s right to accelerate or terminate this Agreement or to liquidate Mortgage Loans delivered to it in
connection with Transactions hereunder, or to exercise any other remedies pursuant to Section 12, is a contractual right to accelerate, terminate or liquidate this Agreement or such Transaction as described in
Sections 555 and 559 of the Bankruptcy Code. 
 (c) The Parties agree and acknowledge that if a Party hereto is an “insured
depository institution,” as such term is defined in the FDIA each Transaction hereunder is a “qualified financial contract,” as that term is defined in 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). 
 (d) It is understood that this Agreement
constitutes a “netting contract” as defined in and subject to Title IV of the 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 FDICIA (except insofar as one or both of the Parties is not a “financial institution” as that term is defined in FDICIA).

 (e) It is understood and agreed that this Agreement constitutes a “master netting agreement” as that term is defined in
Section 101 of the Bankruptcy Code, and that either Party’s right to cause the termination, liquidation, or acceleration of, or to offset net termination values, payment amounts or other transfer obligations arising under or in connection
with, this Agreement or any Transaction is a contractual right to cause the termination, liquidation, or acceleration of, or to offset net termination values, payment amounts or other transfer obligations arising under or in connection with, this
Agreement or any Transaction as described in Section 561 of the Bankruptcy Code. 
 27. Disclosure Relating to Certain Federal Protections 

The Parties acknowledge that they have been advised that: 

(a) in the case of Transactions in which one of the Parties is a broker or dealer registered with the Securities and Exchange Commission
(“SEC”) under Section 15 of the Securities Exchange Act of 1934 (“1934 Act”), the Securities Investor Protection Corporation has taken the position that the provisions of the Securities Investor Protection Act
of 1970 (“SIPA”) do not protect the other Party with respect to any Transaction hereunder; 

  
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 (b) in the case of Transactions in which one of the Parties is a government securities
broker or a government securities dealer registered with the SEC under Section 15C of the 1934 Act, SIPA will not provide protection to the other Party with respect to any Transaction hereunder; and 

(c) in the case of Transactions in which one of the Parties is a financial institution, funds held by the financial institution pursuant to a
Transaction hereunder other than funds on deposit in an Account are not a deposit and therefore are not insured by either the FDIC or the National Credit Union Share Insurance Fund. 

28. Confidentiality 
 (a) Confidential
Terms. The Parties hereby acknowledge and agree that all written or computer-readable information provided by one Party to any other regarding the terms set forth in any of the Transaction Documents or the Transactions contemplated thereby (the
“Confidential Terms”) shall be kept confidential and shall not be divulged to any Person without the prior written consent of such other Party except to the extent that (i) such Person is an Affiliate, Subsidiary, division or
parent holding company of a Party or a director, officer, employee or agent (including an accountant, legal counsel and other advisor) of a Party or such Affiliate, division or parent holding company, provided such recipients are advised of the
confidential nature of the Confidential Terms, (ii) in such Party’s opinion, it is necessary to do so in working with legal counsel or auditors (provided such recipients are advised of the confidential nature of the Confidential Terms),
taxing authorities or other governmental agencies or regulatory bodies (including any self-regulatory authority, such as the National Association of Insurance Commissioners) or in order to comply with any applicable federal or state laws or
regulations, (iii) any of the Confidential Terms are in the public domain other than due to a breach of this covenant, (iv) in the event of a Default or an Event of Default, Buyer reasonably determines such information to be necessary or
desirable to disclose in connection with the marketing and sales of the Purchased Mortgage Loans or otherwise to enforce or exercise Buyer’s rights hereunder, (v) to the extent Buyer deems it necessary or appropriate to disclose it to
Custodian or in connection with an assignment or participation under Section 21 or in connection with any hedging transaction related to Purchased Mortgage Loans, provided such recipients are advised of the confidential
nature of the Confidential Terms, or (vi) Seller may make disclosures related to this Agreement and the other Transaction Documents as required by the SEC or any federal or state securities laws and Seller may make disclosures related to this
Agreement and the other Transaction Documents to describe to its creditors the facilities provided under the Transaction Documents so long as pricing information (including Purchase Prices and Pricing Rates), fees and financial covenant terms
related to the Transaction Documents are given without linking or relating them to Buyer and in a range which describes such terms for all of Seller’s warehouse facilities generally. Notwithstanding the foregoing or anything to the contrary
contained herein or in any other Transaction Document, the Parties may disclose to any and all Persons, without limitation of any kind, the U.S. federal, state and local tax treatment of the Transactions, any fact that may be relevant to
understanding the U.S. federal, state and local tax treatment of the Transactions, and all materials of any kind (including opinions or other tax analyses) relating to such U.S. federal, state and local tax treatment and that may be relevant to
understanding such tax treatment, and the Parties may disclose information pertaining to this Agreement routinely provided by arrangers to league table providers, that serve 

  
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the financing industry; provided that Seller may not disclose (except as provided in clauses (i), (ii), (iii) or (vi) of this
Section 28(a)) the name of or identifying information with respect to Buyer or any pricing terms (including the Pricing Rate, Facility Fee or other fee, Purchase Price Percentage and Purchase Price) or other nonpublic
business or financial information (including any sublimits and financial covenants) that is unrelated to the U.S. federal, state and local tax treatment of the Transactions and is not relevant to understanding the U.S. federal, state and local tax
treatment of the Transactions, without the prior written consent of Buyer. Any Person required to maintain the confidentiality of Confidential Terms as provided in this Section 28(a) shall be considered to have complied
with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Confidential Terms as such Person would accord to its own confidential information. The provisions set forth in this
Section 28(a) shall survive the termination of this Agreement for a period of one (1) year following such termination. 

(b) Privacy of Customer Information. 

(i) Seller’s Customer Information in the possession of Buyer, other than information independently obtained by Buyer and not derived in
any manner from or using information obtained under or in connection with this Agreement, is and shall remain confidential and proprietary information of Seller. Except in accordance with this Section 28(b), Buyer shall not
use any Seller’s Customer Information for any purpose, including the marketing of products or services to, or the solicitation of business from, Customers, or disclose any Seller’s Customer Information to any Person, including any of
Buyer’s employees, agents or contractors or any third party not affiliated with Buyer. Buyer may use or disclose Seller’s Customer Information only to the extent necessary (1) for examination and audit of Buyer’s activities,
books and records by Buyer’s regulatory authorities, (2) to protect or exercise Buyer’s rights and privileges or (3) to carry out Buyer’s express obligations under this Agreement and the other Transaction Documents
(including providing Seller’s Customer Information to Approved Takeout Investors), and for no other purpose; provided that Buyer may also use and disclose Seller’s Customer Information as expressly permitted by Seller in writing, to
the extent that such express permission is in accordance with the Privacy Requirements. Buyer shall take commercially reasonable steps to ensure that each Person to which Buyer intends to disclose Seller’s Customer Information, before any such
disclosure of information, agrees to keep confidential any such Seller’s Customer Information and to use or disclose such Seller’s Customer Information only to the extent necessary to protect or exercise Buyer’s rights and privileges,
or to carry out Buyer’s express obligations, under this Agreement and the other Transaction Documents (including providing Seller’s Customer Information to Approved Takeout Investors). Buyer agrees to maintain an information security
program and to assess, manage and control risks relating to the security and confidentiality of Seller’s Customer Information pursuant to such program in the same manner as Buyer does in respect of its own customers’ information, and shall
implement the standards relating to such risks in the manner set forth in the Interagency Guidelines Establishing Standards for Safeguarding Company Customer Information set forth in 12 CFR Parts 30, 168, 170, 208, 211, 225, 263, 308 and 364.
Without limiting the scope of the foregoing sentence, Buyer shall use at least the same physical and other security measures to protect all of Seller’s Customer Information in its possession or control as it uses for its own customers’
confidential and proprietary information. 

  
 78 

 (ii) Seller shall indemnify the Indemnified Parties against, and hold each of them harmless
from, any losses, liabilities, damages, claims, costs and expenses (including reasonable attorneys’ fees and disbursements) suffered or incurred by any Indemnified Party relating to or arising out of Seller’s loss, improper disclosure or
misuse of any Seller’s Customer Information not caused by Buyer’s sole or concurrent gross negligence or willful misconduct. 
 29. Setoff

 (a) Seller Waives Setoff Rights. Except to the extent specifically permitted herein, Seller hereby irrevocably and
unconditionally waives all right to setoff that it may have under contract (including this Agreement), applicable law, in equity or otherwise with respect to any funds or monies of Buyer (or any disclosed principal for which Buyer is acting as
agent) at any time held by or in the possession of Seller. 
 (b) Buyer May Set Off. Seller agrees that Buyer, at any time an Event of
Default has occurred and is continuing, may set off any funds or monies of Seller at any time held by or in the possession of Buyer in connection with this Agreement or any other Transaction Document or otherwise, against any amounts Seller owes to
Buyer, or against any amounts Seller owes to any other Indemnified Party, pursuant to the terms of this Agreement or any other Transaction Document. Buyer shall notify Seller promptly of any such setoff and the application made by Buyer;
provided that the failure to give such notice shall not affect the validity of such setoff and application or give rise to any liability of Buyer. 

30. WAIVER OF SPECIAL DAMAGES. 
 SELLER
WAIVES, TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT SELLER MAY HAVE TO CLAIM OR RECOVER FROM BUYER IN ANY LEGAL ACTION OR PROCEEDING ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES. 

31. USA PATRIOT ACT NOTIFICATION. 
 The
following notification is provided to Seller pursuant to Section 326 of the USA Patriot Act of 2001, 31 U.S.C. Section 5318: 
 IMPORTANT
INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT. To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies
each person or entity that opens an account, including any deposit account, treasury management account, loan, other extension of credit, or other financial services product. What this means for Seller: When Seller opens an account, if Seller is an
individual, Buyer will ask for Seller’s name, taxpayer identification number, residential address, date of birth, and other information that will allow Buyer to identify Seller, and if Seller is not an individual, Buyer will ask for
Seller’s name, taxpayer identification number, business address, and other information that will allow Buyer to identify Seller. Buyer may also ask, if Seller is an individual, to see Seller’s driver’s license or other identifying
documents, and if Seller is not an individual to see Seller’s legal organizational documents or other identifying documents. 

  
 79 

 (The remainder of this page is intentionally blank; counterpart signature pages
follow) 

  
 80 

			
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	/s/ Lee Chung
		 	Lee Chung
		 	Authorized Officer
	
	LOANDEPOT.COM LLC
		
	By:	 	/s/ Bryan Sullivan
		 	 Bryan Sullivan
 Chief Financial
Officer

  
 Signature Page to
Master Repurchase Agreement between JPMorgan Chase Bank, N.A., as Buyer, and 
 loanDepot.com LLC, as Seller 

 List of Exhibits and Schedules 
  

	Exhibit A	 Form of Confirmation 

 

	Exhibit B	 Mortgage Loan Representations and Warranties 

 

	Exhibit C	 Form of Compliance Certificate 

 

	Exhibit D	 Conditions Precedent Documents 

 

	Exhibit E	 Required Opinions of Counsel 

 

	Exhibit F	 Subsidiary Information 

 

	Exhibit G-1	 Form of Subservicer Instruction Letter 

 

	Exhibit G-2	 Form of Subservicer Instruction Letter for Cenlar FSB 

 

	Exhibit H	 Certain Debt and guaranties 

 

	Exhibit I	 Seller Names from Tax Returns 

 

	Schedule I	 Approved Takeout Investors 

 

	Schedule II	 Seller’s Authorized Signers 

 

	Schedule III	 CLTV/DTI/FICO Score Criteria 

  
 (i) 

 EXHIBIT B 

MORTGAGE LOAN 
 REPRESENTATIONS AND
WARRANTIES 
 With respect to each Mortgage Loan, (i) as of the Purchase Date for the purchase of any Purchased Mortgage Loans by Buyer
from Seller and as of the date of this Agreement and any Transaction hereunder, and (ii) at all times while the Transaction Documents or any Transaction hereunder is in force and effect, Seller represents and warrants to Buyer that each of the
statements set forth as lettered items of this Exhibit B is true and correct. For purposes of this Exhibit B and the representations and warranties set forth herein, a breach of a representation or warranty shall be deemed to have been
cured with respect to a Mortgage Loan if and when Seller has taken or caused to be taken action such that the event, circumstance or condition that gave rise to such breach no longer adversely affects such Mortgage Loan. With respect to each Loan
Level Representation that is made to the best of Seller’s knowledge, if it is discovered by Seller or Buyer that the substance of such Loan Level Representation 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 that Loan Level Representation. 
 (a) Mortgage
Loans as Described. The information set forth in the related Asset Schedule is complete, true and correct. 
 (b) Valid First
Lien. The Mortgage is properly recorded (or, as to newly-Originated Mortgage Loans, is in the process of being recorded) and is a valid, existing and enforceable first Lien with respect to each Mortgage Loan that is indicated by Seller to be a
first Lien on the Mortgaged Property, including all improvements on the Mortgaged Property, free and clear of all adverse claims, and Liens having priority over the Lien of the Mortgage, subject only to (i) the Lien of current real property
taxes and assessments not yet due and payable, (ii) covenants, conditions and restrictions, rights of way, easements and other matters of the public record as of the date of recording being acceptable to mortgage lending institutions generally
and specifically referred to in the lender’s title insurance policy delivered to Seller and that do not adversely affect the purchase by, or the purchase price to be paid by, the Approved Takeout Investor, and (iii) other matters to which
like properties are commonly subject that do not individually or in the aggregate 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, existing and enforceable first lien and first priority security interest
securing the related Mortgage Loan on the property described therein and Seller has full right to sell and assign the related Mortgage Assets to Buyer. 

(c) Validity of Mortgage Documents. With respect to each Mortgage Loan, Seller or its designee has in its possession all Servicing Files
except for those Servicing Files that Seller has disclosed to Buyer are outstanding. The Mortgage Note and the related Mortgage are original and genuine and each is the legal, valid and binding obligation of the Mortgagor thereof, enforceable in all
respects in accordance with its terms except as enforceability may be limited by (i) bankruptcy, insolvency, liquidation, receivership, moratorium, reorganization or other 

  
 Exhibit B, Page 1 

 
similar laws affecting the enforcement of the rights of creditors and (ii) general principles of equity, whether enforcement is sought in a proceeding in equity or at law, and Seller has
taken all action necessary to transfer such rights of enforceability to Buyer. Neither the operation of any of the terms of any Mortgage or Mortgage Note, nor the exercise by any holder of any right thereunder, will render the Mortgage or Mortgage
Note unenforceable, in whole or in part, or subject to any right of rescission, setoff, counterclaim or defense, and no such right of rescission, setoff, counterclaim or defense has been asserted with respect thereto. All parties to the Mortgage
Note and the Mortgage had the legal capacity to enter into the Mortgage Loan and to execute and deliver the Mortgage Note and the Mortgage, and the Mortgage Note and the Mortgage have been duly and properly executed by such parties. All items
required to be delivered pursuant to this Agreement shall be delivered to Buyer, within the time frames set forth in this Agreement, and if a document is delivered in imaged format, such images must be of sufficient quality to be readable and able
to be copied. There is only one original executed Mortgage Note with respect to such Mortgage Loan. Without Buyer’s prior written consent, Seller has not amended or modified the Mortgage Loan Documents, or waived any term or condition of them,
or settled or compromised any claim in respect of any item of the Purchased Mortgage Loans, any related rights or any of the Mortgage Loan Documents, except only such amendments, modifications, waivers, settlements or compromises, if any, that
(a) do not (i) affect the amount or timing of any payment of principal or interest payable with respect to such Purchased Mortgage Loan, (ii) extend its scheduled maturity date, modify its interest rate or constitute a cancellation or
discharge of its outstanding principal balance, (iii) materially and adversely affect the liability of any maker, guarantor or insurer or the security afforded by the real property, furnishings, fixtures, or equipment securing the Purchased
Mortgage Loan or (iv) materially and adversely affect its value, or (b) have been approved by the insurer under the related private mortgage insurance policy, if any, and by the title insurer under the related lender’s title insurance
policy, to the extent required to avoid affecting or impairing the coverage of such policy or policies, and (c) are in accordance with accepted servicing practices and the Agency Guidelines. 

(d) Customary Provisions. The Mortgage and related Mortgage Note contain 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 or right available to the Mortgagor or any other person that 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 that are conforming to the Agency Guidelines and the Takeout Guidelines, as applicable. 

(e) Original Terms Unmodified. The terms of the Mortgage Note and the Mortgage have not been impaired, waived, altered or modified in
any respect, except by written instruments that (a) have been recorded in the applicable public recording office if required by law or if necessary to maintain the lien priority of the Mortgage and (b) have been delivered to

  
 Exhibit B, Page 2 

 
Buyer; the substance of any such waiver, alteration or modification has been approved by the insurer under the private mortgage insurance policy, if any, and by the title insurer, to the extent
required by the related policy provided by Seller and is reflected appropriately on any and all documentation or data and is true and accurate in all respects. No other instrument of waiver, alteration or modification has been executed, and no
Mortgagor has been released, in whole or in part, except in connection with an assumption agreement approved by the insurer under the private mortgage insurance policy, if any, and by the title insurer, to the extent required by the policy, and
which assumption agreement is a part of the Asset File. As of the Purchase Date, the full original principal amount of each Mortgage Loan has been fully disbursed as provided for in the Mortgage Loan Documents, and there is no requirement for any
future advances. 
 (f) No Defenses. The Mortgage Note and the Mortgage are not subject to any right of rescission, set off,
counterclaim or defense, including the defense of usury, nor will the operation of any of the terms of the Mortgage Note and the Mortgage, or the exercise of any right thereunder, render either the Mortgage Note or the Mortgage unenforceable, in
whole or in part, or subject to any right of rescission, set off, counterclaim or defense, including the defense of usury, and no such right of rescission, set off, counterclaim or defense has been asserted with respect thereto; and neither the
Mortgagor nor the Mortgaged Property is as of the Purchase Date or was as of the Origination Date, subject to an Act of Insolvency. 
 (g)
No Outstanding Charges. There are no defaults by Seller or any Subservicer in complying with the terms of the Mortgage, and (1) all taxes, ground rents, special assessments, governmental assessments, insurance premiums, leasehold
payments, water, sewer and municipal charges that previously became due and owing have been paid, or escrow funds have been established in an amount sufficient to pay for every such escrowed item that remains unpaid and that has been assessed but is
not yet due and payable before any “economic loss” dates or discount dates (or if payments were made after any “economic loss” date or discount date, then Seller has paid any penalty or reimbursed any discount out of
Seller’s funds) and (2) all flood and hazard insurance premiums and private mortgage insurance premiums that are due, have been paid without loss or penalty to the Mortgagor. As of the Purchase Date, no event 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 under a Mortgage Loan has occurred, including a violation of applicable law, local ordinances or city codes
resulting from a deterioration or defect existing in any Mortgaged Property, and neither Seller nor its predecessors have waived any default, breach, violation or event of acceleration. Seller has received no notice of, and has no knowledge of, any
event, including the bankruptcy filing or death of a Mortgagor, that may or could give rise to a Mortgagor default under the Mortgage Note or Mortgage. Neither Seller nor, to Seller’s best knowledge after exercise of due inquiry, Subservicer
has advanced funds, or induced, solicited or knowingly received any advance from any Person other than the Mortgagor, directly or indirectly, for the payment of any amount due under the Mortgage Loan, unless otherwise permitted in the Takeout
Guidelines. 
 (h) 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 satisfaction, cancellation, subordination, rescission or release. Neither
Seller nor, to Seller’s best knowledge after exercise of due inquiry, Subservicer has 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,
and neither Seller nor, to Seller’s best knowledge after exercise of due inquiry, Subservicer has waived any default. 

  
 Exhibit B, Page 3 

 (i) No Default. There is no default, breach, violation or event of acceleration
existing under the Mortgage or the Mortgage Note and no event 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 permitting acceleration, and neither
Seller nor, to Seller’s best knowledge after exercise of due inquiry, Subservicer has waived any default, breach, violation or event permitting acceleration. With respect to each Mortgage Loan (i) the first Lien securing the Mortgage Loan
is in full force and effect, (ii) there is no default, breach, violation or event of acceleration existing under such first Lien Mortgage or the related Mortgage Note, and (iii) no event 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 thereunder. 
 (j) Full
Disbursement of Proceeds. The Mortgage Loan has been closed and the proceeds of the Mortgage Loan have been fully disbursed to or for the account of the Mortgagor and there is no obligation for the mortgagee to advance additional funds
thereunder and any and all 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 have been paid, and the Mortgagor is not entitled to any refund of any amounts paid or due to the mortgagee pursuant to the Mortgage Note or Mortgage with exception to escrow holdbacks. 

(k) No Mechanics’ Liens. There are no mechanics’ or similar Liens or claims filed for work, labor or material (and no rights
are outstanding that under law could give rise to such a Lien) affecting the related Mortgaged Property that are or may be Liens prior to, or equal or coordinate with, the Lien of the related Mortgage. 

(l) No Additional Collateral. The Mortgage Note is not and has not been secured by any collateral except the Lien of the corresponding
Mortgage on the Mortgaged Property and the security interest of any applicable security agreement. 
 (m) Origination; Payment Terms.
The Mortgage Loan was originated by Seller, which is a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial
bank, credit union, insurance company or other similar institution that is supervised and examined by a federal or state authority or duly licensed by state licensing authority, if applicable. Seller and all other parties that 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) in compliance with any and all applicable licensing requirements of the laws of the state
wherein the Mortgaged Property is located, and either (1) organized under the laws of such state, (2) qualified to do business in such state, (3) federal savings and loan associations or national banks having principal offices in such
state or (4) not doing business in such state. Principal payments on the Mortgage Loan commenced or will commence no more than sixty (60) days after the proceeds of the Mortgage Loan were disbursed. The Mortgage Loan requires interest
payable in arrears on the first day of the month. 

  
 Exhibit B, Page 4 

 
Each Mortgage Note requires a monthly payment that is sufficient (i) during the period before the first adjustment to the Mortgage interest rate, to amortize the original principal balance
fully over the original term thereof (unless otherwise provided in the applicable Agency Guidelines) and to pay interest at the related Mortgage interest rate, and (ii) during the period following each interest rate adjustment date in the case
of each adjustable rate Mortgage Loan, to amortize the outstanding principal balance fully as of the first day of such period over the then remaining term of such Mortgage Note and to pay interest at the related Mortgage interest rate. The Mortgage
Note does not permit negative amortization. Interest on the Mortgage Note is calculated on the basis of a 360 day year consisting of twelve 30-day months. The Mortgage Loan is not a simple interest Mortgage
Loan. The Mortgage Loan does not require a balloon payment upon the maturity thereof. The Mortgage Note does not by its terms provide for the capitalization or forbearance of interest. 

(n) Ownership. Immediately before Buyer’s payment of the Purchase Price, Seller was the sole owner and holder of the Mortgage Loan
and the indebtedness evidenced by the Mortgage Note. The Mortgage Loan, including the Mortgage Note and the Mortgage, were not assigned or pledged by Seller and Seller had good and marketable title thereto, and Seller had full right to transfer and
sell the Mortgage Loan to Buyer free and clear of any Lien, participation interest, equity, pledge or claim and had full right and authority subject to no interest or participation in, or agreement with any other Person to sell or otherwise transfer
the Mortgage Loan. Following the sale of the Mortgage Loan, Buyer will own such Mortgage Loan and the other Mortgage Assets free and clear of any Lien and shall have a valid and perfected first priority security interest in such Mortgage Loan and
the other Mortgage Assets then existing and thereafter arising in each case free and clear of any Lien. After the related Purchase Date, Seller will not have any right to modify or alter the terms of the sale of the Mortgage Loan and Seller will not
have any obligation or right to repurchase the Mortgage Loan, except as provided in this Agreement or as otherwise agreed to by Seller and Buyer. Seller has full right to sell, assign and transfer the Mortgage Loan without the consent of the related
Mortgagor or any other Person. 
 (o) Transfer of Mortgage Loan. The Mortgage Loan is a MERS Designated Mortgage Loan. The original
Mortgage was recorded in the appropriate jurisdictions wherein such recordation is necessary to perfect the Lien thereof as against creditors of Seller, or is in the process of being recorded. Seller has designated Buyer as the “Interim
Funder” on the MERS® System with respect to such Mortgage Loan (or is in the process of designating Buyer and such designation shall be completed within [five (5)] Business Days
after the Purchase Date) and unless otherwise authorized by Buyer, no Person is listed as interim funder on the MERS® System with respect to such Mortgage Loan. 

(p) Hazard Insurance; Flood Insurance. All buildings or other customarily insured improvements upon the Mortgaged Property are insured
by an insurer generally acceptable under the Takeout Guidelines and to prudent mortgage lending institutions against loss by fire, hazards of extended coverage and such other hazards as are required in the Takeout Guidelines pursuant to an insurance
policy conforming to the requirements of Takeout Guidelines and providing coverage in an amount equal to the lesser of (i) the full insurable value of the Mortgaged Property or (ii) the outstanding principal balance owing on the Mortgage
Loan. All such insurance policies are in full force and effect and contain a standard mortgagee clause naming the originator of the Mortgage Loan, its successors and assigns as mortgagee and all premiums

  
 Exhibit B, Page 5 

 
thereon have been paid. Before the Origination closing of the Mortgage Loan, Seller determined whether the Mortgaged Property is or will be located in a Special Flood Hazard Area using the
Standard Flood Hazard Determination Form developed by the U.S. Department of Homeland Security Federal Emergency Management Agency and has properly recorded the basis for such determination on such form. If the Mortgaged Property is in an area
identified on a flood hazard map or flood insurance rate map issued by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available), a flood insurance policy meeting the requirements of
the Flood Laws is in effect which policy conforms to the requirements of the Takeout Guidelines. The Mortgage obligates the Mortgagor thereunder to maintain all such insurance at the Mortgagor’s cost and expense, and on the Mortgagor’s
failure to do so, authorizes the holder of the Mortgage to maintain such insurance at the Mortgagor’s cost and expense and to seek reimbursement therefor from the 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 the common facilities of a planned unit development. The hazard
insurance policy is the valid and binding obligation of the insurer, is in full force and effect, and will be in full force and effect and inure to the benefit of Buyer upon the consummation of the transactions contemplated by this Agreement. Seller
has not engaged in, and has no knowledge of the Mortgagor, any Subservicer or any prior servicer having engaged in, any act or omission that 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 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 or entity, and no
such unlawful items have been received, retained or realized by Seller. 
 (q) Title Insurance. The Mortgage Loan is covered by an
ALTA, CLTA or TLTA lender’s title insurance policy, acceptable to the applicable Agency or as mandated by applicable state law, if any, issued by a title insurer acceptable to the applicable Agency or qualified as required under applicable
state law and qualified to do business in the jurisdiction where the Mortgaged Property is located, insuring Seller, its successors and assigns the first priority of the lien of the Mortgage in the original principal amount of the Mortgage Loan and,
if such Mortgage Loan is an adjustable rate Mortgage Loan, against any loss by reason of the invalidity or unenforceability of the lien resulting from the provisions of the Mortgage providing for adjustment in the Mortgage interest rate or 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 and its successors and assigns are the sole insureds of such lender’s title insurance policy, and such lender’s title insurance
policy is in full force and effect and will be in full force and effect upon the consummation of the transactions contemplated by this Agreement and will inure to the benefit of Buyer and its assigns without any further act. No claims have been made
under such lender’s title insurance policy, and Seller has not done, by act or omission, anything that would impair the coverage of such lender’s title insurance policy. 

  
 Exhibit B, Page 6 

 (r) Escrow Letter. There is, with respect to such Mortgage Loan, a valid and
enforceable escrow letter duly executed by the Settlement Agent. 
 (s) Private Mortgage Insurance Policy. In the event that a private
mortgage insurance policy is required by Buyer, the Mortgage Loan has a valid and transferable private mortgage insurance policy. Unless the private mortgage insurance policy for a Mortgage Loan was cancelled at the request of the Mortgagor or
automatically terminated, in either case in accordance with applicable law, all premiums have been paid and all provisions of such private mortgage insurance policy have been and are being complied with. With respect to a purchase money Mortgage
Loan, both the original appraised value and the purchase price are accurately depicted as such on Seller’s (or, as applicable, Subservicer’s) servicing system. Where a Mortgage Loan was closed as a streamlined refinance and a new appraisal
was not required, the prior appraised value that was relied on in making the credit decision for the Mortgage Loan is accurately depicted on Seller’s (or, as applicable, Subservicer’s) servicing system. The Mortgage interest rate for the
Mortgage Loan is net of any private mortgage insurance policy premium. 
 (t) Optional Insurance. No single payment credit life
insurance or other optional insurance product that has been considered “predatory” by Fannie Mae or Freddie Mac has been obtained in connection with such Mortgage Loan. If such Mortgage Loan involved any type of optional insurance, such
insurance was properly serviced including by use of the proper application and collection of premiums, the maintenance of complete and accurate records, processing and payment of claims and the handling of correspondence. The Mortgage Loan does not
involve an optional insurance product that was or is being provided free of charge to the Mortgagor. 
 (u) Insurance. All policies of
required insurance, of whatever type, remain in full force and effect. Seller has not engaged in, and has no knowledge of the Mortgagors having engaged in, any act or omission that would impair the coverage validity or binding effect of any such
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, private
mortgage insurance 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 any
Subservicer or any designee of Seller or any Subservicer or any corporation in which Seller, any Subservicer or any officer, director, or employee of Seller or any Subservicer had a financial interest at the time of placement of such insurance. 

(v) Mortgaged Property Undamaged; No Condemnation Proceedings. As of the related Purchase Date, there are no uninsured casualty losses
or casualty losses where coinsurance has been, or Seller has reason to believe will be, claimed by the insurance company or where the loss, exclusive of contents, is, or will be, greater than the recovery (less actual costs and expenses incurred in
connection with such recovery) from the insurance carrier. No casualty insurance proceeds have been used to reduce Mortgage Loan balances or for any other purpose except to make repairs to the Mortgaged Property, except as allowed pursuant to
applicable law and the Mortgage Loan documents. All damage with respect to which casualty insurance proceeds have been received by or through Seller has been properly repaired or is in the process 

  
 Exhibit B, Page 7 

 
of being repaired using such proceeds. There is no damage to the Mortgaged Property from waste, fire, windstorm, flood, tornado, earthquake or earth movement, hazardous or toxic substances, other
casualty, or any other property related circumstances or conditions that would adversely affect the value or marketability of any Mortgage Loan or Mortgaged Property, and adequate insurance is in place to cover all such events. There is no
proceeding pending or, to Seller’s knowledge, threatened for the partial or total condemnation of the Mortgaged Property that would adversely affect the Mortgage Loan. 

(w) Location of Improvements; No Encroachments. All improvements subject to the Mortgage that 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 wholly within the project with respect to a condominium unit) and no improvements on adjoining properties
encroach upon the Mortgaged Property except those that are insured against by the title insurance policy referred to in section (q) above and all improvements on the Mortgaged Property comply with all applicable zoning and subdivision
laws and ordinances. 
 (x) Appraisal. The Asset File, the Loan Eligibility File or the Servicing File contains an appraisal or an
underwriting property valuation using an automated valuation model of the related Mortgaged Property, or an Appraised Value Alternative, in each case, in a form acceptable to the applicable Agency or Approved Takeout Investor and Buyer and
consistent with the applicable Agency Guidelines, and in the case of an appraisal, made and signed, before the approval of the Mortgage Loan application, 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, whose compensation is not affected by the approval or disapproval of the Mortgage Loan and who met the minimum qualifications of the applicable Agency. Each appraisal of the
Mortgage Loan was made in conformity with the Uniform Standards of Professional Appraisal Practice and Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as amended (12 U.S.C. 3331 et seq.) and the regulations
promulgated thereunder, and if such Mortgage Loan is a “higher priced mortgage loan” as defined in 12 CFR § 1026.35(a)(1), the requirements of 12 CFR § 1026.35(c)(3) and (4), including their requirements, if applicable, for a
second appraisal for higher priced mortgage loans to finance a consumer’s acquisition of his or her principal dwelling that was acquired by its seller within 90 or 180 days before consummation of such mortgage loan, for more than 110% or 120%,
respectively, of the seller’s acquisition price), all as in effect on the Date of Origination of the Mortgage Loan. 
 (y)
Construction Defects. Any home or other improvement included within the Mortgaged Property was constructed in a workmanlike manner, and was accepted by the original homeowner or Mortgagor in good and habitable condition and working order, and
conforms with all warranties, express or implied, representations, legal obligations, and local, state and federal requirements and codes concerning the condition, construction, and placement of the home or improvement. 

(z) Occupancy of the Mortgaged Property. The Mortgaged Property is lawfully 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 certificates of occupancy, have been made or obtained from the appropriate
authorities and no improvement located on or part of the Mortgaged Property is in violation of any zoning law or regulation. 

  
 Exhibit B, Page 8 

 (aa) Type of Mortgaged Property. The Mortgaged Property is located in the United
States and consists of a single parcel of real property with a detached single family residence erected thereon, a townhouse or a two to four family dwelling, or an individual condominium unit, or an individual unit in a planned unit development or
a de minimis planned unit development, or a Co-op Unit in a Co-op Project; provided that any condominium project or planned unit development generally conforms to
the applicable Agency Guidelines regarding such dwellings. As of the date of origination, no portion of the Mortgaged Property was used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used
for commercial purposes; provided that Mortgaged Properties that contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not
storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. If the Mortgaged Property is a condominium unit or a planned unit development (other than a de minimis planned unit
development) such condominium or planned unit development project is acceptable to Buyer. The Mortgaged Property is not a Manufactured Home or a mobile home. 

(bb) Environmental Matters. There is no pending action or proceeding directly involving any Mortgaged Property of which Seller is aware
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 constituting a prerequisite to use and enjoyment of said
property. The Mortgaged Property is free from any and all toxic or hazardous substances and there exists no violation of any local, state or federal environmental law, rule or regulation. 

(cc) Unacceptable Investment. Seller has no knowledge of any circumstances or condition with respect to the Mortgage, the Mortgaged
Property, the Mortgagor or the Mortgagor’s credit standing that could reasonably be expected to cause investors to regard the Mortgage Loan as an unacceptable investment, cause the Mortgage Loan to become delinquent or materially adversely
affect the value or the marketability of the Mortgage. 
 (dd) Servicemembers Civil Relief Act. The Mortgagor has not notified Seller
or any Subservicer, and Seller has no knowledge of any relief requested or allowed to the Mortgagor under the Servicemembers Civil Relief Act of 2003, as amended, or other similar state or federal law. 

(ee) No Fraud. No fraud, error, omission, misrepresentation, negligence or similar occurrence with respect to the Mortgage Loan has
taken place on the part of Seller. To Seller’s best knowledge after exercise of due inquiry, no fraud, error, omission, misrepresentation, negligence or similar occurrence with respect to the Mortgage Loan has taken place on the part of any
Subservicer or any other Person involved in taking applications for, offering, arranging, assisting a consumer in obtaining, making, underwriting or closing the Mortgage Loan or in the application for any insurance in relation to such Mortgage Loan,
including the Mortgagor, any builder or developer or any appraiser. The documents, instruments and agreements submitted for 

  
 Exhibit B, Page 9 

 
loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and
statements therein not misleading. Seller has reviewed all of the documents constituting the Asset File and the Loan Eligibility File and has made such inquiries as it deems necessary to make and confirm the accuracy of the representations set forth
herein. 
 (ff) Delinquency. All payments required to be made before the related Purchase Date for such Mortgage Loan under the terms
of the Mortgage Note have been made, the Mortgage Loan has not been dishonored or declared to be in default and no payment has ever been more than thirty (30) days past due. 

(gg) Compliance with Applicable Laws. Any and all requirements of any applicable federal, state or local law or regulation including
usury, truth in lending, ability to repay, real estate settlement procedures, consumer credit protection, consumer privacy, fair credit billing, fair credit reporting, fair debt collection practices, flood insurance, predatory and abusive lending
laws and regulations, equal credit opportunity, fair housing and home mortgage disclosure laws and regulations or unfair, deceptive and abusive practices laws applicable to the origination and servicing of the Mortgage Loan including any provisions
relating to prepayment penalties, have been complied with and the consummation of the transactions contemplated hereby will not involve the violation of any such laws or regulations. Seller maintains, and shall maintain, evidence of such compliance
as required by applicable law or regulation and shall make such evidence available for inspection at Seller’s office during normal business hours upon reasonable advance notice. Each Mortgage Loan at the time it was made complied in all
material respects with applicable local, state, and federal laws, including all applicable predatory and abusive lending laws. 
 (hh)
Disclosure and Rescission Materials. The Mortgagor has received all disclosure materials required by applicable law with respect to the making of mortgage loans of the same type as the Mortgage Loan and rescission materials required by
applicable law and has acknowledged receipt of such materials to the extent required by applicable law and such documents will remain in the Asset File or the Servicing File, as applicable. 

(ii) Texas Refinance Loans. Each Mortgage Loan originated in the State of Texas pursuant to Article XVI, Section 50(a)(6) of the
Texas Constitution (a “Texas Refinance Loan”) has been originated in compliance with the provisions of Article XVI, Section 50(a)(6) of the Texas Constitution, Texas Civil Statutes and the Texas Finance Code. With respect to
each Texas Refinance Loan that is a cash out refinancing, the related Mortgage Loan Documents state that the Mortgagor may prepay such Texas Refinance Loan in whole or in part without incurring a prepayment penalty. Seller does not collect any such
prepayment penalties in connection with any such Texas Refinance Loan. 
 (jj) Anti-Money Laundering Laws. Seller and its agents have
at all times complied with all applicable Anti-Money Laundering Laws, in respect of the origination and servicing of each Mortgage Loan; Seller has established an anti-money laundering compliance program as and to the extent required by the
Anti-Money Laundering Laws, has conducted the requisite due diligence in connection with the origination and servicing of each Mortgage Loan for purposes of the Anti-Money Laundering Laws to the extent applicable to Seller, and, to the extent
required 

  
 Exhibit B, Page 10 

 
by applicable law, maintains, and will maintain, either directly or through third parties, sufficient information to identify the applicable Mortgagor for purposes of the Anti-Money Laundering
Laws. 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. 

(kk) Predatory Lending Regulations. The Mortgage Loan is not classified as (a) a “high cost” loan under the Home
Ownership and Equity Protection Act of 1994 (“HOEPA”) or (b) a “high cost”, “threshold”, “covered” or “predatory” loan under any other applicable state, federal or local law. The Mortgage Loan
does not have an “annual percentage rate” or total “points and fees” payable by the related Mortgagor (as each such term is calculated under HOEPA) that exceed the thresholds set forth by HOEPA and its implementing regulations,
including 12 C.F.R. § 226.32(a)(1)(i). No predatory or deceptive lending practices, including the extension of credit without regard to the ability of the Mortgagor to repay and the extension of credit that has no apparent benefit to the
Mortgagor, were employed in the origination of the Mortgage Loan. No term or condition of, and no practice used in connection with the Origination of, such Mortgage Loan has been categorized as an “unfair” or “deceptive” term,
condition or practice under any applicable federal, state or local law (or regulation promulgated thereunder) and the Mortgage Loan does not have any terms that expose Buyer to regulatory action or enforcement proceedings, penalties or other
sanctions. 
 (ll) State Laws. No Mortgage Loan is a “High-Cost Home Loan” as defined in the Arkansas Home Loan Protection
Act effective July 16, 2003 (Act 1340 of 2003); no Mortgage Loan is a “High-Cost Home Loan” as defined in the Kentucky high-cost home loan statute effective June 24, 2003 (Ky. Rev. Stat. Section 360.100); no Mortgage Loan is
a “High-Cost Home Loan” as defined in the New Jersey Home Ownership Act effective November 27, 2003 (N.J.S.A. 46:10B-22 et seq.); no Mortgage Loan is a “High-Cost Home Loan” as defined
in the New Mexico Home Loan Protection Act effective January 1, 2004 (N.M. Stat. Ann. §§ 58-21A-1 et seq.); no Mortgage Loan is a “High-Risk Home
Loan” as defined in the Illinois High-Risk Home Loan Act effective January 1, 2004 (815 Ill. Comp. Stat. 137/1 et seq.); no Mortgage Loan is a “High-Cost Home Mortgage Loan” as defined in the Massachusetts Predatory Home Loan
Practices Act, effective November 7, 2004 (Mass. Ann. Laws Ch. 183C); no Mortgage Loan is a “High Cost Home Loan” as defined in the Indiana Home Loan Practices Act, effective January 1, 2005 (Ind. Code Ann. Sections 24-9-1 through 24-9-9); no Mortgage Loan that was originated on or after October 1, 2002
and on or before March 7, 2003 is secured by property located in the State of Georgia; no Mortgage Loan that was originated after March 7, 2003 is a “high cost home loan” as defined under the Georgia Fair Lending Act, as amended;
no Mortgage Loan is a “high cost home loan,” as defined in Section 6 L of the New York State Banking Law; and no Mortgage Loan is a “covered loan” as contemplated in the California Predatory Lending Act set forth in
California Finance Code Sections 4970 to 4979.8. 
 (mm) Arbitration. The Mortgagor is not subject to mandatory arbitration to resolve
any dispute arising out of or relating in any way to the mortgage loan transaction. 

  
 Exhibit B, Page 11 

 (nn) Higher Cost Products. The Mortgagor was not encouraged or required to select a
Mortgage Loan product offered by the Mortgage Loan’s originator that is a higher cost product designed for less creditworthy Mortgagors, unless at the time of the Mortgage Loan’s origination, such Mortgagor did not qualify taking into
account such facts as the Mortgage Loan’s requirements and the Mortgagor’s credit history, income, assets and liabilities and debt-to-income ratios for a
lower-cost credit product then offered by the Mortgage Loan’s originator or any affiliate of the Mortgage Loan’s originator. If, at the time of loan application, the Mortgagor may have qualified for a lower-cost credit product then offered
by any mortgage lending affiliate of the Mortgage Loan’s originator, the Mortgage Loan’s originator referred the Mortgagor’s application to such affiliate for underwriting consideration. For a Mortgagor who seeks financing through a
Mortgage Loan originator’s higher-priced nonprime lending channel, the Mortgagor was directed towards or offered the Mortgage Loan originator’s standard mortgage line if the Mortgagor was able to qualify for one of the standard products.

 (oo) Underwriting Methodology. With respect to delegated underwritten loans, the methodology used in underwriting the extension of
credit for each Mortgage Loan does not rely solely on the extent of the Mortgagor’s equity in the collateral as the principal determining factor in approving such extension of credit. The methodology employed objective criteria such as the
Mortgagor’s income, assets and liabilities, to the proposed mortgage payment and, based on such methodology, the Mortgage Loan’s originator made a reasonable determination that at the time of origination the Mortgagor had the ability to
make timely payments on the Mortgage Loan. 
 (pp) Points and Fees. No Mortgagor was charged “points and fees” as defined in
12 CFR § 1026.32(b)(1), whether or not financed, in an amount greater than (i) three percent (3%) of the total loan amount — or, for Mortgage Loans of less than $100,000 (indexed for inflation), such different amount as is specified
in 12 CFR § 1026.43(e)(3) — of any Mortgage Loan that is an “ATR Covered Loan” (i.e., a Mortgage Loan that is subject to the Truth in Lending Act of 1968, as amended, and is not exempt from the ability to repay
requirements of Regulation Z (12 CFR § 1026.43(a) or (d)), or (ii) five percent (5%) of the principal amount of any Mortgage Loan that is an “ATR Exempt Loan” (i.e., a Mortgage Loan that is either not subject to the Truth
in Lending Act of 1968, as amended, or is exempt from such ability to repay requirements in Regulation Z). All fees and charges (including finance charges), whether or not financed, assessed, collected or to be collected in connection with the
origination and servicing of each Mortgage Loan, have been disclosed in writing to the Mortgagor in accordance with applicable state and federal law and regulation. 

(qq) Prepayment Penalties. With respect to any Mortgage Loan that contains a provision permitting imposition of a penalty upon a
prepayment before maturity: (i) the Mortgage Loan provides some benefit to the Mortgagor (e.g., a rate or fee reduction) in exchange for accepting such prepayment penalty, (ii) the Mortgage Loan’s originator had a written
policy of offering the Mortgagor the option of obtaining a mortgage loan that did not require payment of such a penalty, (iii) the prepayment penalty was adequately disclosed to the Mortgagor in the mortgage loan documents pursuant to
applicable state, local and federal law, and (v) notwithstanding any state or federal law to the contrary, neither Seller nor any Subservicer shall impose such prepayment premium in any instance when the mortgage debt is accelerated as the
result of the Mortgagor’s default in making the loan payments. 

  
 Exhibit B, Page 12 

 (rr) Single Premium Credit Insurance Policies. The Mortgagor was not required to
purchase, and no proceeds of the Mortgage Loan were paid towards the purchase of, a single premium credit insurance policy (e.g., life, mortgage, disability, accident, unemployment, or health insurance product) or debt cancellation agreement
in connection with the origination of the Mortgage Loan or as a condition to the extension of credit. No proceeds from any Mortgage Loan were used to purchase single premium credit insurance policies or debt cancellation agreements as part of the
origination of, or as a condition to closing, such Mortgage Loan; any breach of this representation shall be deemed to materially and adversely affect the value of the Mortgage Loan and shall require a repurchase of the affected Mortgage Loan. 

(ss) Origination Practices; Servicing. The origination practices used by Seller and the collection and servicing practices used by
Seller and any Subservicer with respect to each Mortgage Loan have been in all respects legal and customary in the mortgage origination and servicing industry and the collection and servicing practices used by Seller and any Subservicer have been
consistent with customary servicing procedures. The Mortgage Loan satisfies, and has been originated and underwritten in accordance with, all applicable requirements of Seller’s underwriting guidelines. Seller has serviced the Mortgage Loan at
all times since its origination. 
 (tt) Escrow Payments. With respect to escrow deposits and payments that Seller is entitled to
collect, 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 and the provisions of the related Mortgage Note and Mortgage. As to any Mortgage Loan that is the subject of an escrow, escrow of funds is not prohibited by applicable law and has been
established in an amount sufficient to pay for every escrowed item that remains unpaid and has been assessed but is not yet due and payable. No escrow deposits or other charges or payments due under the Mortgage Note have been capitalized under any
Mortgage or the related Mortgage Note. 
 (uu) Interest on Escrows. As of the related Purchase Date, Seller has credited to the
account of the related Mortgagor under the Mortgage Loan all interest required to be paid by applicable law or by the terms of the related Mortgage Note on any escrow account. Evidence of such credit shall be provided to Buyer upon request. 

(vv) Escrow Analysis. Seller has properly conducted an escrow analysis for each escrowed Mortgage Loan in accordance with applicable
law. All books and records with respect to each Mortgage Loan comply with applicable law and regulations, and have been adjusted to reflect the results of the escrow analyses. Except as allowed by applicable law, no inflation factor was used in the
escrow analysis. Seller has delivered notification to the Mortgagor(s) under each Mortgage Loan of all adjustments resulting from such escrow analyses. 

(ww) Escrow Holdbacks. The Mortgage Loan is not subject to outstanding escrow holdbacks except those specifically identified by Seller
as defined in the Takeout Guidelines. 
 (xx) Credit Reporting. To the extent, if any, that Seller is required to do so by the Fair
Credit Reporting Act and its implementing regulations, Seller has caused to be fully furnished, in accordance with such Act and regulations, accurate and complete information (i.e., favorable and

  
 Exhibit B, Page 13 

 
unfavorable) on its Mortgagor loan files to Equifax, Experian, and Trans Union Credit Information Company (three of the credit repositories), on a monthly basis; any breach of this representation
shall be deemed to materially and adversely affect the value of the Mortgage Loan and shall require a repurchase of the affected Mortgage Loan. Seller has promptly corrected any discrepancies regarding consumer addresses of which Seller has received
notice. 
 (yy) Interest Rate Adjustments. If applicable, with respect to each adjustable rate Mortgage Loan, all 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 and local law has been properly paid and credited. 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. 

(zz) Regarding the Mortgagor. The Mortgagor is one or more natural persons and/or trustees for an Illinois land trust or a trustee under
a “living trust” and such “living trust” is in compliance with Agency Guidelines for such trusts. The Mortgagor is not a Guarantor, an owner, officer, director or agent of Seller or any Guarantor, or an Affiliate of Seller or any
Guarantor. The Mortgagor is not an employee of Seller or any Guarantor, or a relative of an employee of Seller unless (i) the Mortgage Loan was made in compliance with generally applied standards and requirements of Seller’s
“employee” or “friends and family” mortgage loan programs under which loans are available to all of Seller’s eligible employees and (ii) such Mortgage Loan is otherwise an Eligible Mortgage Loans. The Mortgagor is not a
government or a governmental subdivision or agency. The Mortgagor occupies the Mortgaged Property unless the Mortgaged Property secures an Investor Loan. 

(aaa) Fannie Mae Takeout Guidelines Announcement 95-19. As applicable, Seller will transmit full
file credit reporting data for each Mortgage Loan pursuant to Fannie Mae Announcement 95-19 and that for each Mortgage Loan, Seller agrees it shall report one of the following statuses each month as follows:
new origination, current, delinquent (30 or more days), foreclosed, or charged-off. 
 (bbb) Tax
Identification/Back Up Withholding. All tax identifications for individual Mortgagors, have been certified as required by law. Seller has complied with all IRS requirements regarding the obtainment and solicitation of taxpayer identification
numbers and the taxpayer identification numbers provided to Buyer as reflected on the system are correct. To the extent a Mortgage Loan is on back up withholding, Seller has substantiated both the initial reason for the back up withholding and the
amount of such back up withholding and the reason for such back up withholding in the amount currently withheld still exists. 
 (ccc) IRS
Forms. All IRS forms, including Forms 1099, 1098, 1041 and K-1, as appropriate, that are required to be filed with respect to activity occurring on or before the year in which the Purchase Date occurs and
have been filed or will be filed in accordance with applicable law. 
 (ddd) Electronic Drafting of Payments. If Seller or a
Subservicer drafts monthly payments electronically from the Mortgagor’s bank account, such drafting occurs in compliance with applicable federal, state, and local laws and regulations; and the applicable agreement with the Mortgagor; and such
applicable agreement with the Mortgagor both legally and contractually can be fully assigned to Buyer pursuant to the assignment provisions contained therein, and will be fully assigned to Buyer pursuant to this Agreement. 

  
 Exhibit B, Page 14 

 (eee) Third Party Originators and TPO Loans. The Mortgage Loan is not a TPO Loan, nor
was it originated by a Third Party Originator. 
 (fff) U.S. Loan; Mortgagor. The Mortgage Loan is denominated and payable only in
United States dollars within the United States and the related Mortgagor is a United States citizen or resident alien or, only if the Mortgagor is a trustee as described in item (zz) in this Exhibit B that is not a natural person,
Mortgagor is a corporation or other legal entity organized under the laws of the United States or any state thereof or the District of Columbia. 

(ggg) Representations and Warranties to Approved Takeout Investor. Any representations or warranties made by Seller to the Approved
Takeout Investor upon final sale of the Mortgage Loan are hereby incorporated into this Agreement, and Seller is deemed to make the same representations and warranties to Buyer, as if such representations and warranties were fully set forth herein.

 (hhh) Takeout Commitment or Hedging Arrangement. The Mortgage Loan is subject to (a) a legally valid and binding Takeout
Commitment and satisfies all of the requirements related to such Takeout Commitment or (b) a legally valid and binding Hedging Arrangement and satisfies all of the requirements related to such Hedging Arrangement. 

(iii) Agency Guidelines. The Mortgage Loan satisfies, and has been originated in accordance with, all applicable requirements of the
applicable Agency Guidelines; 
 (jjj) Whole Loan. The Mortgage Loan is a whole loan and not a participation interest. 

(kkk) UCC Characterization. The Mortgage Loan is an “account”, “chattel paper”, “promissory note” or
“payment intangible” within the meaning of Article 9 of the UCC of all applicable jurisdictions; 
 (lll) Bankruptcy Code
Characterization. The Mortgage Loan is a “mortgage loan” within the meaning of the Bankruptcy Code. 
 (mmm) No Previous
Financing. The Mortgage Loan has not been previously financed by any other Person. 
 (nnn) Ineligible Loan Types. The Mortgage
Loan is not (i) a negative amortization loan, (ii) a second lien loan, (iii) a home equity line of credit or similar loan, (iv) a reverse mortgage, (v) a subprime Mortgage Loan or
alt-A Mortgage Loan or (vi) considered an “Expanded Approval” loan or a similar loan such as is described in the applicable Agency’s eligibility certification. 

(ooo) 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 it own directly or indirectly, any equity of any form in the Mortgaged Property or the Mortgagor. 

  
 Exhibit B, Page 15 

 (ppp) Condominiums/ Planned Unit Developments. If the Mortgage Loan is a condominium
loan, the related residential dwelling is a condominium unit or a unit in a planned unit development (other than a de minimis planned unit development) and such condominium or planned unit development project meets the eligibility requirements of
Fannie Mae and Freddie Mac including Fannie Mae eligibility requirements for sale to Fannie Mae or is located in a condominium or planned unit development project that has received Fannie Mae project approval and the representations and warranties
required by Fannie Mae with respect to such condominium or planned unit development have been made and remain true and correct in all respects. 

(qqq) Downpayment. The source of the down payment with respect to such Mortgage Loan has been fully verified by Seller. 

(rrr) Due on Sale. The related 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. 

(sss) Flood Certification Contract. Seller has obtained a life of loan, transferable flood certification contract for such Mortgage Loan
and such contract is assignable without penalty, premium or cost to Buyer. 
 (ttt) No Construction Loans. The Mortgage Loan was not
made in connection with (a) the construction or rehabilitation of a Mortgaged Property or (b) facilitating the trade-in or exchange of a Mortgaged Property. 

  
 Exhibit B, Page 16

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