Document:

NSMH 09.30.2013 10-Q Exhibit 10.20

Exhibit 10.20
Confidential Treatment Requested
EXECUTION VERSION

AMENDMENT NUMBER TWO
to the
Transactions Terms Letter
Dated as of January 30, 2013
between
BANK OF AMERICA, N.A.
and
NATIONSTAR MORTGAGE LLC
This AMENDMENT NUMBER TWO (this “Amendment”) is made as of this 10th day of July, 2013, by and between Bank of America, N.A. (“Buyer”) and Nationstar Mortgage LLC (“Seller”) to that certain Transaction Terms Letter, dated as of January 30, 2013 (as amended, supplemented or otherwise modified from time to time, the “Terms Letter”), between Buyer and Seller.  Reference is hereby made to that certain Amended and Restated Master Repurchase Agreement, dated as of October 21, 2010, between Seller and Buyer (as amended, supplemented or otherwise modified from time to time, the “Agreement”).

WHEREAS, Seller has requested and Buyer agrees to amend the Terms Letter as more specifically set forth herein; and 

WHEREAS, as of the date of this Amendment, Seller represents to Buyer that it is in compliance with all of the representations and warranties and all of the affirmative and negative covenants set forth in the Agreement and the Terms Letter and is not in default under the Agreement or the Terms Letter.

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

SECTION 1.Amendments. Effective as of July 10, 2013 (the “Effective Date”) the Terms Letter is hereby amended as follows:

(a)The Terms Letter is hereby amended by deleting the definition of “Committed Amount” in its entirety and replacing it with the following (modified text underlined for review purposes):

		
	Committed Amount:
	For the period of time commencing on July 10, 2013, through and including October 7, 2013 (the “Temporary Increase Period”), $1,250,000,000, and at all times thereafter, $750,000,000.

(b)    The Terms Letter is hereby amended by deleting the existing Schedule 1 and replacing it with the Schedule 1 attached to this Amendment as Exhibit A (modified text underlined for review purposes).

SECTION 2.Condition Precedent.  As a condition precedent to the effectiveness of this Amendment, Seller shall remit to Buyer a pro-rated facility fee (the “Additional Facility Fee”) equal to the result of (i) the product of (a) [***] basis points [***], (b) $500,000,000 (representing the increase in the Committed Amount during the Temporary Increase Period), and (c) 60, divided by (ii) 360.  The Additional 

Facility Fee shall be deemed due, earned and payable in full on the date hereof.  Upon early termination of the Agreement, no portion of the Additional Facility Fee will be refunded to Seller.

SECTION 3.Fees and Expenses.  Seller agrees to pay to Buyer all fees and out of pocket expenses incurred by Buyer in connection with this Amendment, including all reasonable fees and out of pocket costs and expenses of the legal counsel Buyer incurred in connection with this Amendment, in accordance with Section 12.2 of the Agreement.

SECTION 4.Defined Terms.  Any terms capitalized but not otherwise defined herein should have the respective meanings set forth in the Agreement and the Terms Letter, as applicable.

SECTION 5.Limited Effect.  Except as amended hereby, the Terms Letter shall continue in full force and effect in accordance with its terms.  Reference to this Amendment need not be made in the Terms Letter or any other instrument or document executed in connection therewith, or in any certificate, letter or communication issued or made pursuant to, or with respect to, the Terms Letter, any reference in any of such items to the Terms Letter being sufficient to refer to the Terms Letter as amended hereby.

SECTION 6.Representations.  In order to induce Buyer to execute and deliver this Amendment, Seller hereby represents to Buyer that as of the date hereof, (i) Seller is in full compliance with all of the terms and conditions of the Principal Agreements and remains bound by the terms thereof, and (ii) no Potential Default or Event of Default has occurred and is continuing under the Principal Agreements.

SECTION 7.Governing Law.  This Amendment shall be construed in accordance with the laws of the State of New York without regard to any conflicts of law provisions (except for Section 5-1401 of the New York General Obligations Law, which shall govern) and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with the laws of the State of New York, except to the extent preempted by federal law.

SECTION 8.Counterparts.  For the purpose of facilitating the execution of this Amendment, and for other purposes, this Amendment may be executed simultaneously in any number of counterparts.  Each counterpart shall be deemed to be an original, and all such counterparts shall constitute one and the same instrument.  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.

[REMAINDER OF THIS PAGE LEFT INTENTIONALLY BLANK]

IN WITNESS WHEREOF, Buyer and Seller have caused this Amendment to be executed and delivered by their duly authorized officers as of the Effective Date.
	
		
	BANK OF AMERICA, N.A., 
as Buyer
By: /s/ Rayanthi De Mel                           .
Name:  Rayanthi De Mel
Title:  Assistant Vice President
	NATIONSTAR MORTGAGE LLC,
as Seller
By: /s/ Ellen Coleman                                .
Name:  Ellen Coleman
Title: EVP, Treasurer

Exhibit A to Terms Letter

SCHEDULE 1 
ELIGIBLE ASSETS

	
						
	Type
	Type
Sublimit*
	Type Margin
	Type Purchase Price Percentage
	Maximum
Dwell Time**
	Transaction Requirements

	Type A:
Agency Eligible Mortgage Loans that are also Conventional Conforming Mortgage Loans (1st mortgages only), including Jumbo Mortgage Loans that are Agency Eligible Mortgage Loans 
	[***] during the Temporary Increase Period; [***] at all other times
	[***]
	[***]
	45 calendar days
	None

	Type A-1:
Agency Eligible Mortgage Loans only

These loans will be identified in the Asset Data Record as “Construction/OTC”
	[***] during the Temporary Increase Period; [***] at all other times.  
No new Transactions after 9/7/13 
	[***]
	[***], reducing to [***] after 10/7/2013
	60 calendar days
	None

	Type B: 
Government Mortgage Loans 
(1st mortgages only)
	[***] during the Temporary Increase Period; [***] at all other times
	[***]
	[***]
	45 calendar days
	None

	Type C:
Jumbo Mortgage Loans that are not Agency Eligible Mortgage Loans
(1st mortgages only, maximum original loan amounts up to $1,500,000) 
	[***] during the Temporary Increase Period; [***] at all other times
	[***]
	[***]
	45 calendar days
	Rate lock and prior approval

	Type D:
Government Mortgage Loans (1st mortgages only) that are: (i) secured by manufactured homes and originated in compliance with Title II under FHA 203(b); or (ii) have FICO scores between 550 and 619

These loans will be identified in the Asset Data Record as “Conf Balance Expanded”
	[***] during the Temporary Increase Period; [***] at all other times
	[***]
	[***]
	45 calendar days
	None

	Type E:  
Texas Cash-Out Refinance Mortgage Loans - Type A and Type B Mortgage Loans

These loans will be identified in the Asset Data Record as “Expanded/Alt-A”
	[***] during the Temporary Increase Period; [***] at all other times
	[***]
	[***]
	45 calendar days
	None

	
						
	Type F: 
HARP Mortgage Loans (1st mortgages only)

These loans will be identified in the Asset Data Record as “Specialty ARM”
	[***] during the Temporary Increase Period; [***] at all other times
	[***]
	[***]
	45 calendar days
	None

	Noncompliant Asset - Type A, B, C, D, E and F Mortgage Loans that have been (i) subject to one or more Transactions hereunder for a period greater than 45  days but not greater than 60 days, or (ii) rejected by the applicable Approved Investor
	[***] during the Temporary Increase Period; [***] at all other times
	The initial Type Margin
	[***] cumulative reduction in Type Purchase Price Percentage for Mortgage Loans rejected by an Approved Investor; subject to further review and reduction in Type Purchase Price Percentage at Buyer’s discretion
	 

	[***] reduction in Type Purchase Price Percentage for an additional dwell time of 1-15 days

	Wet Mortgage Loans - Type A, B, C, D, E and F Mortgage Loans, excluding loans originated under a correspondent program
	[***] from 7/10/13 to 9/23/13;
[***] from 7/24/13 - 8/7/13, 8/24/13-9/7/13, and 9/24/13 - 10/7/13;
at all other times [***], increasing to [***] for the first and last five (5) Business Days of each month 
	The initial Type Margin
	The initial Type
Purchase Price
Percentage
	7 Business Days from origination
	 

	Eligible Certified Mortgage Loans that are Portfolio Mortgage Loans  - Type A, Type A-1 and Type B Mortgage Loans
	[***]
	[***]
	[***]
	60 calendar days from the date on which the Mortgage Loan first became subject to a Transaction whether or not it was an Eligible Certified Mortgage Loan at the time
	None

	Eligible Certified Mortgage Loans that are Pooled Mortgage Loans  - Type A, Type A-1, Type B and Type D Mortgage Loans
	[***]
	[***]
	[***]
	60 calendar days from the date on which the Mortgage Loan first became subject to a Transaction whether or not it was an Eligible Certified Mortgage Loan at the time
	None

* Unless otherwise specified, all Type Sublimits are calculated as a percentage of the Aggregate Transaction Limit (as the same may be increased or decreased pursuant to the terms of the Agreement).

** All Maximum Dwell Times are calculated without regard to whether the time that such Purchased Asset is subject to the facility is consecutive.

*** Note: Confidential treatment has been requested with respect to the information contained within the [***] marking. Such portions have been omitted from this filing and have been filed separately with the Securities and Exchange Commission.NSMH 09.30.2013 10-Q Exhibit 10.21

Exhibit 10.21
Confidential Treatment Requested
EXECUTION VERSION

AMENDMENT NUMBER THREE
to the
Transactions Terms Letter
Dated as of January 30, 2013
between
BANK OF AMERICA, N.A.
and
NATIONSTAR MORTGAGE LLC
This AMENDMENT NUMBER THREE (this “Amendment”) is made as of this 8th day of August, 2013, by and between Bank of America, N.A. (“Buyer”) and Nationstar Mortgage LLC (“Seller”) to that certain Transaction Terms Letter, dated as of January 30, 2013 (as amended, supplemented or otherwise modified from time to time, the “Terms Letter”), between Buyer and Seller.  Reference is hereby made to that certain Amended and Restated Master Repurchase Agreement, dated as of October 21, 2010 between Seller and Buyer (as amended, supplemented or otherwise modified from time to time, the “Agreement”).

WHEREAS, Seller has requested and Buyer agrees to amend the Terms Letter as more specifically set forth herein; and 

WHEREAS, as of the date of this Amendment, Seller represents to Buyer that it is in compliance with all of the representations and warranties and all of the affirmative and negative covenants set forth in the Agreement and the Terms Letter and is not in default under the Agreement or the Terms Letter.

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

SECTION 1.Amendments. Effective as of August 8, 2013 (the “Effective Date”) the Terms Letter is hereby amended as follows:

(a)Schedule 1 to the Terms Letter is hereby amended by deleting the row beginning with “Noncomplian Asset” thereof in its entirety and replacing it with the following (modified text underlined for review purposes):
	
					
	Noncompliant Asset - Type A, B, C, D, E and F Mortgage Loans that have been (i) subject to one or more Transactions hereunder for a period greater than 45 days but not greater than 60 days, or (ii) rejected by the applicable Approved Investor
	[***]
	The initial Type Margin
	[***] reduction in Type Purchase Price Percentage for Mortgage Loans rejected by an Approved Investor; subject to further review and reduction in Type Purchase Price Percentage at Buyer’s discretion
	 

	[***] reduction in Type Purchase Price Percentage for an additional dwell time of 1-15 days

SECTION 2.Fees and Expenses.  Seller agrees to pay to Buyer all fees and out of pocket expenses incurred by Buyer in connection with this Amendment, including all reasonable fees and 

out of pocket costs and expenses of the legal counsel Buyer incurred in connection with this Amendment, in accordance with Section 12.2 of the Agreement.

SECTION 3.Defined Terms.  Any terms capitalized but not otherwise defined herein should have the respective meanings set forth in the Agreement and the Terms Letter, as applicable.

SECTION 4.Limited Effect.  Except as amended hereby, the Terms Letter shall continue in full force and effect in accordance with its terms.  Reference to this Amendment need not be made in the Terms Letter or any other instrument or document executed in connection therewith, or in any certificate, letter or communication issued or made pursuant to, or with respect to, the Terms Letter, any reference in any of such items to the Terms Letter being sufficient to refer to the Terms Letter as amended hereby.

SECTION 5.Representations.  In order to induce Buyer to execute and deliver this Amendment, Seller hereby represents to Buyer that as of the date hereof, (i) Seller is in full compliance with all of the terms and conditions of the Principal Agreements and remains bound by the terms thereof, and (ii) no Potential Default or Event of Default has occurred and is continuing under the Principal Agreements.

SECTION 6.Governing Law.  This Amendment shall be construed in accordance with the laws of the State of New York without regard to any conflicts of law provisions (except for Section 5-1401 of the New York General Obligations Law, which shall govern) and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with the laws of the State of New York, except to the extent preempted by federal law.

SECTION 7.Counterparts.  For the purpose of facilitating the execution of this Amendment, and for other purposes, this Amendment may be executed simultaneously in any number of counterparts.  Each counterpart shall be deemed to be an original, and all such counterparts shall constitute one and the same instrument.  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.

***Note:  Confidential treatment has been requested with respect to the information contained within the [***] marking.  Such portions have been omitted from this filing and have been filed separately with the Securities and Exchange Commission.
[REMAINDER OF THIS PAGE LEFT INTENTIONALLY BLANK]

IN WITNESS WHEREOF, Buyer and Seller have caused this Amendment to be executed and delivered by their duly authorized officers as of the Effective Date.
	
		
	BANK OF AMERICA, N.A., 
as Buyer
 By: /s/ Rayanthi De Mel                       .
Name:  Rayanthi De Mel
Title:  Assistant Vice President
	NATIONSTAR MORTGAGE LLC,
as Seller
By: /s/ Ellen Coleman                           .
Name:  Ellen Coleman
Title:  EVP, Treasurer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}]]