Document:

EX-10.150

 Exhibit 10.150 
  

 
 

 
 Advances, Pledge and Security Agreement 

Delivery 
 This Advances,
Pledge and Security Agreement (“Agreement”), effective this 16th day of June, 2014 is entered between PMT Insurance, LLC (“Member”), with principal offices at 8182 Maryland
Avenue, Suite 1500, St. Louis, MO 63105, and the Federal Home Loan Bank of Des Moines (“Bank”), with principal offices in Des Moines, Iowa. 

WHEREAS, the Bank may from time to time make available extensions of credit to the Member, including, but not limited to, advances and
standby letters of credit (“Advances”), in accordance with the Federal Home Loan Bank Act, the regulations and directives of the Federal Housing Finance Agency, the Master Transaction Agreement entered between the Bank and the Member dated
[                    ], the Confirmations issued hereunder, and the policies and procedures currently set forth in the Bank’s Member Products
Policy, as amended, superseded or replaced by the Bank’s Board of Directors from time to time, and the Bank’s Credit and Collateral Procedures, as amended, superseded or replaced by the Bank’s management from time to time
(collectively referred to herein as the “Member Policies and Procedures”); 
 WHEREAS, the Member desires, from time to
time, to obtain Advances from the Bank in accordance with the terms and conditions of this Agreement, the Confirmations issued hereunder and the Member Policies and Procedures; and 

WHEREAS, the Bank requires that all Advances, and all other indebtedness, arising from any and all obligations or liabilities of the
Member to the Bank be secured pursuant to this Agreement, and the Member agrees to provide such security; 
 NOW THEREFORE, for good
and valuable consideration, intending to be legally bound, and with respect to each and every such Advance, the Bank and the Member agree as follows: 

Section 1. Applications. The Member shall request an Advance in such form as shall be specified by the Bank. Nothing contained in this Agreement
or the Member Policies and Procedures shall be construed as an agreement or commitment by the Bank to grant any Advance hereunder. The Bank expressly reserves its right and power to either grant or deny in its sole discretion any Advance. In the
event the Member’s access to an Advance is restricted by law or regulation because of the capital or financial condition of the Member, the Bank will not be required to fund any outstanding advance commitments not provided prior to the
effective date of such restriction. 
 Section 2. Confirmation of Advance. Each Advance, and, except as otherwise provided, all other
indebtedness, shall be evidenced by a writing or electronic record, in such form or forms as may be determined by the Bank from time to time (“Confirmation”), issued by the 

 
Bank to the Member. The Member and the Bank shall be bound by the terms and conditions set forth herein, in the Confirmation and in the Member Policies and Procedures. Any inconsistencies between
the terms and conditions of a Confirmation, this Agreement, any funding agreement, if applicable, or the Member Policies and Procedures, shall be resolved in favor of this Agreement. 

Section 3. Payment to the Bank. The Member shall repay each Advance and make payments of interest thereon and any and all costs, expenses, fees
and penalties relating thereto as specified herein and in the Member Policies and Procedures and the related Confirmation. All payments shall be made at the office of the Bank in Des Moines, Iowa, or at such other place as the Bank, or its
successors or assigns, may from time to time appoint in writing. 
 The Member shall maintain in its demand deposit account(s) with the Bank (collectively,
the “Demand Deposit Account”) an amount at least equal to the amounts then currently due and payable to the Bank on outstanding Advances. The Member hereby authorizes the Bank to debit the Demand Deposit Account for all amounts due and
payable to the Bank on any Advance or other indebtedness. If the amount in the Demand Deposit Account is, at any time, insufficient to pay such due and payable amounts, the Bank may, without notice to the Member, apply any other funds or assets then
in the possession of the Bank to the payment of such amounts. 
 Past due payments of principal, interest, or other amounts payable in connection with any
Advance may, at the option of the Bank, bear interest until paid at a default rate that is 3% per annum higher than the then current rate being charged by the Bank for Advances. 

Section 4. Creation of Security Interest in Collateral. 

A. As collateral security for any and all Advances and other indebtedness, the Member hereby assigns, transfers, pledges and grants a security
interest to the Bank, its successors or assigns all of the following (collectively, the “Collateral”): 
 1. all Capital Stock of
the Bank now or hereafter owned by Member, and all deposit accounts now or hereafter maintained by the Member with the Bank; and 
 2. such
property of Member as is described on a Collateral Listing substantially in the form of Exhibit A or in such other form as may be determined by the Bank from time to time, transmitted from time to time by Member to Bank and delivered by Member to
Bank as collateral hereunder and identified as such. 
 The Member shall promptly deliver the Collateral to the Bank or its authorized
agents, in the manner specified by the Member Policies and Procedures or as otherwise specified in writing by the Bank. Subject to the provisions set forth in Sections 4.B and 14 of this Agreement, all Collateral pledged by the Member to the Bank
for Advances prior to the date hereof is hereby pledged to the Bank as Collateral hereunder. 
 B. The Member undertakes and agrees to keep
and maintain at all times Collateral (exclusive of Bank Capital Stock and Member’s deposit accounts) which has an Advance Equivalency sufficient to fully secure its Advances. Advance Equivalency is calculated by applying commercially reasonable
Collateral Maintenance Levels to the 

 
fair market value or book value of Collateral. The Member acknowledges that the Bank may increase such Collateral Maintenance Levels, in a commercially reasonable and nondiscriminatory manner as
determined by the Bank, by providing written notice of any such increase to the Member at least thirty (30) calendar days prior to implementing the same. 

C. The Bank agrees to allow the Member to withdraw any Collateral specified in a written request to the Bank, provided that the Bank reasonably
determines that the remaining Collateral (exclusive of Bank Capital Stock and Member’s deposit accounts), after giving effect to such withdrawal, has an Advance Equivalency at least equal to Member’s Advances. 

D. The Member agrees to make, execute and deliver to the Bank such assignments, endorsements, listings, powers, or other documents or
instruments, or to take any such other measures as the Bank may reasonably request in order to protect its security interest in the Collateral. The Member authorizes the Bank to file any and all financing statements and amendments thereto as the
Bank reasonably deems desirable to perfect and protect its security interest in the Collateral. 
 E. The Member agrees to provide any
information regarding the Collateral reasonably requested by the Bank and to make its books and records available to the Bank audits or verification pursuant to Section 9. 

F. Member agrees to provide any information requested by the Bank in connection with an Advance or Collateral and any information contained in
any status report, schedule, or other documents requested or required hereunder and any other information given from time to time by the Member as to each item of Collateral. 

G. Unless otherwise directed by the Member, the Bank undertakes and agrees to transfer all income received by the Bank on any Collateral to the
Member’s Demand Deposit Account. Notwithstanding the foregoing, however, in the event that a default as described in Section 6 has occurred and is continuing, the Bank shall directly apply any such income received in satisfaction of the
amount in default. 
 H. The sole duty of the Bank with respect to any Collateral delivered by the Member shall be to use reasonable care in
the custody and preservation of the Collateral. 
 Section 5. Covenants. The Member represents, warrants, and covenants to the Bank, which
representations, warranties, and covenants shall be deemed to be repeated at all times until the termination of this Agreement: 
 A. No
Event of Default, as defined in Section 6, with respect to the Member has occurred and is continuing or would occur as a result of the Member entering into or performing its obligations under this Agreement or any Advance. 

B. The Member owns and has marketable title to the Collateral free and clear of any and all liens, claims, or encumbrances of any kind, and has
the right and authority to grant a security interest in the Collateral and to subject all of the Collateral to this Agreement. 
 C. All of
the Collateral meets the standards and requirements with respect thereto established by the Member Policies and Procedures. 

 D. The Member at all times maintains and accurately reflects the terms of this Agreement,
including the Bank’s interest in Collateral, and all Advances and other indebtedness on its books and records. 
 E. The Member has the
full power and authority and has received all corporate and governmental authorizations and approvals as may be required to enter into and perform its obligations under this Agreement and any Advance. 

Section 6. Events of Default. The Bank may consider the Member in default hereunder upon the occurrence of any of the following events or
conditions (each an “Event of Default”): 
 A. Failure of the Member to pay any interest, or repay any principal or pay any other
amount due in connection with any Advance and such failure has not been cured five (5) business days after receipt of notice of such failure; 

B. Breach or failure to perform by the Member of any covenant, promise, condition, obligation or liability contained or referred to herein, or
any other agreement to which the Member and the Bank are parties and such breach or failure has not been cured five (5) business days after receipt of notice of such breach or failure; 

C. Proof that any representation, statement or warranty made or furnished in any manner to the Bank by or on behalf of the Member in connection
with all or part of any Advance was false in any material respect when made or furnished; 
 D. The issuance of any tax levy, seizure,
attachment, garnishment, levy of execution or other process with respect to the Member the amount of which is greater than five percent (5%) of the Member’s capital and surplus; 

E. Any suspension of payment by the Member to any creditor or any events which result in acceleration of the maturity of any indebtedness of
the Member to others under any indenture, agreement or other undertaking the aggregate amount of which is greater than the lesser of five percent (5%) of Member’s capital and surplus or five percent (5%) of the Bank’s capital and
surplus, as determined in accordance with the accounting principles governing the Member’s or Bank’s published financial statements, respectively; 

F. Any: (i) application for, or appointment of, a receiver for, the Member or for any part of the property of the Member;
(ii) voluntary dissolution of or adjudication of insolvency, or assignment for benefit of creditors, or general transfer of assets by the Member; (iii) takeover of the management of the Member by any supervisory authority;
(iv) liquidation, merger, or sale of a substantial portion of the Member’s assets outside of the ordinary course of the Member’s business; (v) termination of the membership of the Member in the Bank; or (vi) at any time that
in the case of Advances made under the provisions of 12 U.S.C. § 1431(g)(4) or any successor provisions are outstanding, any increase in the creditor liabilities of the Member, excepting its liabilities to the Bank, in any manner to an amount
exceeding 5% of the Member’s net assets; or 
 G. Determination by the Bank based on reasonable evidence and in good faith that a
material adverse change has occurred in the financial condition of the Member from that disclosed at the time of the making of any Advance, or from the condition of the Member as theretofore most recently disclosed to the Bank in any manner. 

 Section 7. Bank Remedies in the Event of Default. Upon the occurrence of any Event of Default
hereunder, the Bank may, at its option, declare the entire amount of any and all Advances or other indebtedness to be immediately due and payable. Without limitation of any of its rights and remedies hereunder or under other law, the Bank shall have
all of the remedies of a secured party under the Uniform Commercial Code of the State of Iowa. The Member agrees to pay all the costs and expenses of the Bank in the collection of the secured indebtedness and enforcement of the Bank’s rights
hereunder including, without limitation, reasonable attorney’s fees. The Bank may sell the Collateral or any part thereof in such manner and for such price as the Bank deems appropriate without any liability for any loss due to decrease in the
market value of the Collateral during the period held. The Bank shall have the right to purchase all or part of the Collateral at public or private sale. If any notification of intended disposition of any of the Collateral is required by law, such
notification shall be deemed reasonable and properly given if mailed, postage prepaid, at least five days before any such disposition to the address of the Member appearing on the records of the Bank. 

The proceeds of any sale shall be applied in the following order: first, to pay all costs and expenses of every kind for the enforcement of this Agreement or
the care, collection, safekeeping, sale, foreclosure, delivery or otherwise respecting the Collateral (including expenses for legal services); then to interest and fees on all indebtedness of the Member to the Bank; then to the principal amount of
any such indebtedness whether or not such indebtedness is due or accrued. The Bank, at its discretion or as assigned by law, may apply any surplus to indebtedness of Member to third parties claiming a secondary security interest in the Collateral.
Any remaining surplus shall be paid to the Member. 
 Section 8. Additional Security. Member shall assign additional or substituted Collateral
for Advances at any time the Bank shall deem it necessary for the Bank’s protection. 
 Section 9. Appointment of Bank as Attorney-in-Fact.
Member does hereby make, constitute and appoint Bank its true and lawful attorney-in-fact to deal with the Collateral in the Event of Default and, in its name and stead to release, collect, compromise, settle, and release or record any note,
mortgage or deed of trust which is a part of such Collateral as fully as the Member could do if acting for itself. The powers herein granted are coupled with an interest, and are irrevocable, and full power of substitution is granted to the Bank in
the premises. 
 Section 10. Audit and Verification of Collateral. In extension and not in limitation of all requirements of law respecting
examination of the Member by or on behalf of the Bank, the Member agrees that all Collateral pledged hereunder shall always be subject to audit and verification by or on behalf of the Bank in its corporate capacity. 

Section 11. Resolution to be Furnished by Member. The Member agrees to furnish to the Bank at the execution of this Agreement, and from time to
time hereafter, a certified copy of a resolution of its Board of Directors or other governing body authorizing such of the Member’s officers, agents, and employees as the Member shall select, to apply for Advances from the Bank. In lieu of
requiring an additional resolution upon execution of this Agreement, the Bank may rely on a previously furnished resolution of the Member’s Board of Directors or other governing body with respect to Advances made pursuant to this Agreement.

 Section 12. Applicable Law. This Agreement and all Advances and other indebtedness obtained hereunder
shall be governed by the statutory and common law of the United States and, to the extent federal law incorporates or defers to state law, the laws (exclusive of choice of law provisions) of the State of Iowa. Notwithstanding the foregoing, the
Uniform Commercial Code as in effect in the State of Iowa shall apply to the parties’ rights and obligations with respect to the Collateral. If any portion of this Agreement conflicts with applicable law, such conflict shall not affect any
other provision of this Agreement that can be given effect without the conflicting provision, and to this end the provisions of this Agreement are severable. 

Section 13. Jurisdiction. In any action or proceeding brought by the Bank or the Member in order to enforce any right or remedy under this
Agreement, Member hereby submits to the jurisdiction of the United States District Court for the Southern District of Iowa, or if such action or proceeding may not be brought in Federal Court, the jurisdiction of the Iowa District Court in Polk
County. If any action or proceeding is brought by the Member seeking to obtain relief against the Bank arising out of this Agreement and such relief is not granted by a court of competent jurisdiction, the Member will pay all attorney’s fees
and court costs incurred by the Bank in connection therewith. 
 Section 14. Effective Date; Agreement Constitutes Entire Agreement. This
Agreement shall be effective on the date of execution of this Agreement by the parties hereto (the “Effective Date”). Except as set forth in this paragraph, this Agreement, together with the Member Policies and Procedures, The Master
Transaction Agreement and any applicable Confirmations dated on or after the Effective Date, shall embody the entire agreement and understanding between the parties hereto relating to the subject matter hereof and thereof. This Agreement may not be
amended except by written amendment executed by the Bank and the Member. Each such Confirmation and the Member Policies and Procedures shall be incorporated herein. Advances made by the Bank to the Member prior to the effective date of this
Agreement, and such Confirmations related thereto, shall be governed exclusively by the terms of the prior agreements pursuant to which such Advances were made, except that (i) any default thereunder shall constitute default hereunder,
(ii) Collateral furnished as security hereunder shall also secure such prior Advances and (iii) the rights and obligations with respect to such Collateral shall be governed by the terms of this Agreement and the Member Policy and
Procedures as amended, superseded or replaced from time to time. 
 Section 15. Section Headings. Section headings are not to be considered part
of this Agreement. Section headings are solely for convenience of reference, and shall not affect the meaning or interpretation of this Agreement or any of its provisions. 

Section 16. Successors and Assigns. This Agreement shall be binding upon each of the parties, successors and permitted assigns. The Member may not
assign any obligation hereunder without the prior written consent of the Bank. The Bank may assign any or all of its rights and obligations hereunder or with respect to any Advance or other indebtedness to any other party. 

Section 17. No Waiver of Rights. A failure or delay in exercising any right, power or privilege in respect of this Agreement will not be presumed
to operate as a waiver, and a single or partial exercise of any right, power or privilege will not be presumed to preclude any subsequent or further exercise of any right, power, or privilege or the exercise of any other right, power or privilege.

 Section 18. Remedies Cumulative. The rights, powers, remedies and privileges provided in this
Agreement are cumulative and not exclusive of any rights, powers, remedies and privileges provided by law. 

 IN WITNESS WHEREOF, each of the parties has caused this Agreement to be signed in its name by its duly
authorized representatives as of the dates below. 
  

			
	 PMT Insurance, LLC

	Full Corporate Name of Customer
		
	By:	 	 /s/ Andrew Chang

	Title:	 	 President

	Date:	 	 6/16/14

	
	FEDERAL HOME LOAN BANK OF DES MOINES
		
	By:	 	 /s/ Vonda Renfrow

	Title:	 	 Vonda Renfrow
 Collateral Risk Administration
Manager

	Date:	 	 4-7-15EX-10.151

 Exhibit 10.151 
  

 
 AFFILIATE COLLATERAL PLEDGE AND SECURITY AGREEMENT 

THIS AFFILIATE COLLATERAL PLEDGE AND SECURITY AGREEMENT (“Pledge Agreement”), dated as of May 26, 2015, is made by and among
PennyMac Securities Holding, LLC, a Limited Liability Company organized and existing under the laws of the State of Delaware (“Pledgor”), PMT Insurance, LLC, a Limited Liability Company organized and
existing under the laws of the State of Missouri (“Borrower”), and the Federal Home Loan Bank of Des Moines (“Bank”). 

WHEREAS, Borrower is a member and stockholder of the Bank; 

WHEREAS, Pledgor is an Affiliate of Borrower (for purposes of this Pledge Agreement, “Affiliate” means any person or company which
controls, is controlled by, or is under common control with, Borrower, including any holding company, any subsidiary, or any service corporation of the Borrower); 

WHEREAS, Borrower and the Bank have entered into an Advances, Pledge and Security Agreement, dated as of June 16, 2014 (such agreement,
including any amendments thereto and any successor agreement that may be entered into by Borrower and the Bank in substitution therefore, hereinafter the “Borrower Advances Agreement”), pursuant to which the Bank may advance funds from
time to time to Borrower and Borrower may pledge certain collateral from time to time to the Bank; and 
 WHEREAS, at the request of
Borrower, and in order to induce the Bank to make additional Advances to Borrower, Pledgor has agreed to pledge certain of its property as collateral to and for the benefit of the Bank to secure the obligations of Borrower to the Bank; 

NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Pledgor, Borrower, and the Bank agree
as follows: 
 1. Pledgor’s Receipt of Borrower Advances Agreement; Definitions. Pledgor hereby acknowledges and agrees that it
has received a copy of the Borrower Advances Agreement (including all amendments thereto) and that it is familiar with the terms and conditions thereof. Unless otherwise defined herein or the context otherwise requires, all capitalized terms used
herein shall have the same meanings as in the Borrower Advances Agreement, except that “Borrower” as used herein shall be synonymous with “Member” as used in the Borrower Advances Agreement. 

  
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 2. Creation of Security Interest. As security for all indebtedness now or hereafter
outstanding from the Borrower to the Bank under the Borrower Advances Agreement, Pledgor hereby assigns, transfers and pledges to the Bank, and grants to the Bank a security interest in, certain property which is (i) specifically listed and
identified in Schedule A to Exhibit A hereto or any amendment or substitute thereto that may be provided by the Pledgor with the agreement of the Bank from time to time, and (ii) all of the proceeds of the foregoing (collectively, the
“Pledgor Collateral”). 
 The Pledgor Collateral shall constitute collateral for all purposes under the Borrower Advances Agreement and, in
addition to any rights or duties with respect to the Pledgor Collateral created by this Pledge Agreement, the Pledgor and the Bank shall have the same rights and duties with respect to the Pledgor Collateral as do Borrower and the Bank,
respectively, with respect to Collateral under the Borrower Advances Agreement. 
 3. Delivery. Upon the Bank’s written or oral
request, or promptly at any time that the Borrower becomes subject to any mandatory collateral delivery requirements that may be established in writing by the Bank, and in either case from time to time thereafter, the Pledgor shall deliver (or, in
the case of uncertificated securities, otherwise transfer) to the Bank, or to a custodian designated by the Bank, Pledgor Collateral in an amount determined by the Bank. Pledgor Collateral delivered to the Bank or to a custodian designated by the
Bank shall be endorsed or assigned in recordable form by the Pledgor as directed by the Bank. 
 4. Right of Bank to Proceed Against
Pledgor Collateral; Right of Bank to Require Additional Collateral or Repayment; Waivers; Borrower Acknowledgment.  
 (a) Pledgor agrees
that, upon the occurrence of an Event of Default, as set forth in the Borrower Advances Agreement and as modified by this Pledge Agreement, the Bank may proceed against the Pledgor Collateral in accordance with the terms of the Borrower Advances
Agreement as though Pledgor were the Member there under. Pledgor hereby waives and agrees not to assert: (i) any and all right to presentment, protest, demand for payment, notice of default, dishonor or nonpayment and all other notices to or
upon Borrower or Pledgor, including, without limitation, notice as to the making of any Advance or other extension of credit to Borrower or the exercise of any right by the Bank hereunder or under the Borrower Advances Agreement; and (ii) any
and all right to require the Bank to proceed against Borrower or any Collateral pledged by Borrower before enforcing the Bank’s rights against the Pledgor Collateral, and any other defense based upon an election of remedies. 

(b) By execution hereof, Borrower acknowledges its consent to the terms and conditions hereof and Borrower hereby waives and agrees not to
assert any and all right to require the Bank to proceed against Pledgor or Pledgor Collateral before enforcing the Bank’s rights against the Borrower or the Collateral and any other defense based upon an election of remedies. 

5. Representations and Agreements by Pledgor. Pledgor hereby represents, warrants to, and agrees with the Bank that: 

(a) Each item of Pledgor Collateral satisfies all the criteria for collateral set forth in the Borrower Advances Agreement, except that the
Pledgor Collateral is owned by Pledgor, rather than by Borrower, free and clear of any liens, encumbrances or other interests other than the lien and security interest granted to the Bank hereunder; 

  
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 (b) Pledgor has full power, right and authority to grant the security interest in the Pledgor
Collateral created hereby, as specified herein and has taken all corporate action necessary to authorize the execution and delivery of this Pledge Agreement; 

(c) The security interest in the Pledgor Collateral created hereby has been duly and validly granted by Pledgor and such security interest,
and this Pledge Agreement, are enforceable in accordance with the terms hereof; 
 (d) This Pledge Agreement has been authorized or ratified
and approved by Pledgor’s Board of Directors and will be maintained continuously among Pledgor’s official records; 
 (e) A
certified copy of the Board of Director’s resolution evidencing its approval hereof is attached hereto as Exhibit B, the form of which has been previously approved by the Bank or its counsel; 

(f) An opinion of Pledgor’s counsel that Pledgor has the power, right and authority to grant the security interest in the Pledgor
Collateral created hereby, that Pledgor has taken all corporate action necessary to authorize the execution and delivery of this Pledge Agreement, and that there is no impediment to the Bank enforcing its interests against the Pledgor Collateral
under this Pledge Agreement has been provided to and accepted by the Bank, a copy of which is attached hereto as Exhibit C; 
 (g) All
information contained in any report, schedule or other documentation provided from time to time by Pledgor to the Bank will be true and correct in all material respects as of the time given; and 

(h) Pledgor agrees to make, execute, record and deliver to the Bank such financing statements, notices, assignments, listings, powers and
other documents with respect to the Pledgor Collateral and the Bank’s security interest therein in such form as the Bank may require. 

6. Representation and Warranties by Borrower. Borrower hereby represents, warrants and agrees to and with the Bank that: 

(a) Borrower has full power, right and authority to enter into this Pledge Agreement and has taken all corporate action necessary to authorize
the execution and delivery of this Pledge Agreement; 
 (b) This Pledge Agreement is enforceable against Borrower in accordance with the
terms hereof; 
 (c) This Pledge Agreement has been authorized or ratified and approved by Borrower’s Board of Directors and will be
maintained continuously among Borrower’s official records; 
 (d) A certified copy of the Board of Director’s resolution
evidencing its approval hereof is attached hereto as Exhibit D, the form of which has been previously approved by the Bank or its counsel; 

  
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 (e) Borrower agrees to make, execute, record, and deliver to the Bank such financing statements,
notices, assignments, listings, powers and other documents with respect to the Pledgor Collateral and the Bank’s security interest therein in such form as the Bank may require; and 

(f) Borrower agrees that a failure by either Borrower or Pledgor to perform any of the rights, responsibilities, duties, representations,
warranties, and agreements under this Pledge Agreement shall constitute an Event of Default under the Borrower Advances Agreement. 
 7.
Governing Law. In addition to the terms and conditions specifically set forth herein, this Pledge Agreement shall be governed by the statutory and common law of the United States and, to the extent state law is applicable, by the laws of the
State of Iowa (without giving effect to choice of law principles included therein). Notwithstanding the foregoing, the Uniform Commercial Code as in effect in the State of Iowa shall be applicable to this Pledge Agreement, to the security interest
created hereby, and to the pledge of Pledgor Collateral hereunder. 
 8. Partial Exercise; Amendment; Severability. No delay on the
part of the Bank in exercising any right, power or privilege shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or privilege preclude other or further exercise thereof or the exercise of any other
right, power or privilege or be construed to be a waiver of any Event of Default under the Borrower Advances Agreement. No waiver by the Bank of any such Event of Default shall be effective unless in writing and signed by an authorized officer of
the Bank, and no such waiver shall be deemed to be a waiver of a subsequent Event of Default under the Borrower Advances Agreement or be deemed to be a continuing waiver. No course of dealing between Borrower or Pledgor, respectively, and the Bank
or its agents or employees shall be effective to change, modify or discharge any provision of this Pledge Agreement, or the Borrower Advances Agreement or to constitute a waiver of any Event of Default there under. If any provision of this Pledge
Agreement is held invalid or unenforceable to any extent or in any application, the remainder of this agreement, or application of such provision to different persons or circumstances or in different jurisdictions, shall not be affected thereby.

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.
SIGNATURE PAGE FOLLOWS.] 

  
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 IN WITNESS WHEREOF, each of Pledgor, Borrower, and the Bank has respectively caused this Pledge
Agreement to be signed in its name by its duly authorized representative as of the date first above mentioned. 
  

									
	 FEDERAL HOME LOAN BANK OF
 DES
MOINES
	 		 	 PennyMac Securities Holding, LLC

(Pledgor)

					
	By:	 	 /s/ Vonda L. Renfrow
	 		 	By:	 	 /s/ Anne D. McCallion

		 	Vonda Renfrow	 		 		 	Anne D. McCallion
	Title:	 	Collateral Risk Administration Manager	 		 	Title:	 	Chief Financial Officer
					
	By:	 	 /s/ Jodie L. Stephens
	 		 		 	
	Title:	 	VP/Director Collateral Risk	 		 		 	
				
	ACCEPTED, ACKNOWLEDGED, AND APPROVED:	 		 		 	
				
	PMT Insurance, LLC	 		 		 	
	(Borrower)	 		 		 	
					
	By:	 	 /s/ Andrew S. Chang
	 		 		 	
		 	Andrew S. Chang	 		 		 	
	Title:	 	President	 		 		 	

  
 5 

 

 
 EXHIBIT A – CONFIRMATORY ASSIGNMENT OF MORTGAGES, 

DEEDS OF TRUST OR OTHER LOANS 

Member Number:                     

The undersigned pledgors (1)                     
(“Borrower”), having signed (a) the Advances, Pledge and Security Agreement with Federal Home Loan Bank of Des Moines (the “Bank”), dated
                    , and (b) each of the Affiliate Collateral Pledge and Security Agreements listed below, among the Bank,
                    , and the respective affiliate (each, an “Affiliate Pledgor”): 

 

	 	•	 	                    , dated
                    , 

 (each, an
“Affiliate Pledge Agreement” and collectively with the Advances, Pledge and Security Agreement, and in each case including all subsequent amendments and modifications thereto, the “Agreements”) and (2) each of the Affiliate
Pledgors, having signed an Affiliate Pledge Agreement, and each pledgor having by the terms of such Agreements to which it is a party assigned to the Bank certain security for advances by the Bank, do now, in confirmation of such assignment, and at
the request of the Bank, specifically assign, set over and transfer unto the Bank, in accordance with such Agreements to which it is a party, the following Collateral until such time as a new Exhibit A, signed by Borrower and any Affiliate Pledgor
continuing to pledge its Collateral, is delivered to the Bank: 
  

	 	(1)	In the case of Borrower, all loans identified on the attached Schedule A to Exhibit A (“Schedule A”) as owned by Borrower; and 

 

	 	(2)	In the case of each Affiliate Pledgor, all loans identified on the attached Schedule A as owned by such Affiliate Pledgor; and 

  
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 each of the forgoing being pledged by each related pledgor to the extent of such pledgor’s interest therein,
and having a combined total unpaid principal balance of: 
  

					
	 Entity
	  	Number of loans
pledged	  	Total unpaid principal
balance of pledged loans
	 .
	  		  	
	 .
	  		  	
		  		  	
		  		  	
	 TOTAL
	  		  	

 Further, each of the undersigned pledgors hereby certifies, with respect to the Collateral it is assigning, that there has
been no event(s) that did or may significantly affect the value of such Collateral or the ability of the Borrower to repay advances that have not been reported to the Bank; and that such Collateral pledged to the Bank complies with applicable laws
and regulations and regulatory guidance, including but not limited to the Interagency Guidance on Nontraditional Mortgage Product Risks and Statement on Subprime Mortgage Lending, as well as the Bank’s Anti-Predatory Lending Policy, Member
Products Policy and Collateral Procedures. 
 Upon the delivery to the Bank of a new Exhibit A signed by Borrower and any Affiliate Pledgor continuing to
pledge its Collateral, this Exhibit A shall be superseded by such new Exhibit A and the Collateral described above and listed on the attached Schedule A shall be released from the pledge of the Agreements unless such Collateral is described in such
new Exhibit A. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK. SIGNATURE PAGE FOLLOWS.] 

  
 7 

 IN WITNESS WHEREOF, the undersigned Pledgors have signed this Confirmatory Assignment as of this
             day of             , 20    . 

 

					
	PLEDGOR: .	 		 	PLEDGOR:
			
	  
 Authorized
Signature
	 		 	  
 Authorized
Signature

			
	  
 Printed Name
	 		 	  
 Printed
Name

			
	  
 Title
	 		 	  

Title

  
 8 

 Exhibit B 

FORM OF RESOLUTION OF PLEDGOR REGARDING AFFILIATE COLLATERAL PLEDGE 

AND SECURITY AGREEMENT 
 WHEREAS,
                     (“Pledgor”) is an Affiliate of
                            
                                        
(“Borrower” (for purposes of this resolution, Affiliate means any person or company which controls, is controlled by, or is under common control with, Borrower, including any holding company, any subsidiary, or any service corporation of
the Borrower); 
 WHEREAS, Borrower must pledge a certain level of property (“Collateral”) to the Federal Home Loan Bank of Des Moines
(“Bank”) in order to secure loans or “advances” from the Bank to Borrower made pursuant to an Advances, Pledge and Security Agreement dated
                    ; 
 WHEREAS, Borrower has requested
that Pledgor pledge certain Collateral on behalf of Borrower to the Bank in order for Borrower to secure advances from the Bank; 
 WHEREAS, after study and
consideration and consultation with counsel, the Board of Directors of Pledgor has determined that it is in the best interests of Pledgor to pledge Collateral to the Bank on behalf of Borrower; and 

WHEREAS, an Affiliate Collateral Pledge and Security Agreement (“Pledge Agreement”), which would govern the agreement between the Bank, Pledgor, and
Borrower regarding the Collateral pledged to the Bank by Pledgor on behalf of Borrower has been presented at this meeting by management with the recommendation that it be adopted; 

NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors of Pledgor hereby approves the Pledge Agreement in substantially the form presented to the
Directors and attached hereto; 
 RESOLVED FURTHER, that the Chief Executive Officer and other appropriate officers of Pledgor be, and each of them hereby
is, authorized and directed to execute the Pledge Agreement with the Bank and to deliver Collateral to the Bank or its custodian as the Bank may direct; and 

RESOLVED FURTHER, that the Chief Executive Officer of Pledgor and such other officers of Pledgor as he/she shall designate are hereby authorized and directed
to make, execute, and deliver, or cause to be made, executed and delivered, all such agreements, schedules, documents, instruments and other papers and to pay such fees and expenses and to do or cause to be done all such acts and things, in the name
and on behalf of Pledgor, under its seal or otherwise, as may be deemed necessary, appropriate or desirable to effectuate or carry out the purposes and intent of the foregoing resolutions. 

  
 9 

 I HEREBY CERTIFY that the foregoing true and correct copies of resolutions duly adopted by the Board of Directors
of Pledgor on             ,         , and that the same have not been altered, amended, repealed or rescinded and remain in full force and effect as
of this                      day of             ,
        . 
  

	
	  
 [Name of Pledgor Corporate
Secretary]

	Secretary

  
 10 

 Exhibit C 

Date 
 Federal Home Loan Bank of Des Moines 

Skywalk Level 
 801 Walnut Street, Suite 200 

Des Moines, Iowa 50309 
 Ladies and Gentlemen: 

I have acted as counsel to                     
(“Pledgor”) in connection with the preparation of the Affiliate Collateral Pledge and Security Agreement (the “Agreement”). This opinion letter is rendered pursuant to the Agreement. 

In the capacity described above, I have considered such matters of law and of fact, including the examination of originals or copies, certified or otherwise
identified to our satisfaction, of such records and documents of the Pledgor, certificates of officers and representatives of the Pledgor, certificates of public officials and such other documents as I have deemed appropriate as a basis for the
opinions hereinafter set forth. I have assumed the genuineness of all signatures on original or certified copies and the conformity to original or certified copies of all copies of documents submitted to me. As to various questions of fact relevant
to the opinions expressed below, I have relied upon statements or certificates of public officials and of officers and representatives of the Pledgor and its affiliates. I have assumed that the Agreement is enforceable in accordance with its terms
against the parties thereto. 
 Any opinion as to enforceability is limited by applicable bankruptcy, insolvency, reorganization, moratorium or other
similar laws now or hereafter in effect relating to creditors’ rights (including, and without limitation, fraudulent conveyance and other laws of similar import) and by equitable principles and defenses affecting creditors’ rights
generally, and by the discretion of the courts in granting equitable remedies, including specific performance (regardless whether such enforceability is considered in a proceeding at law or in equity and regardless of whether such limitations are
derived from constitutions, statutes, judicial decisions or otherwise). 
 The opinions set forth herein are limited to the laws of the State of
                     and applicable federal laws. I express no opinion as to matters governed by law other than the laws of the State of
                    . 
 Based upon and subject to the
foregoing, it is my opinion that: 
  

	 	(1)	Pledgor was duly organized as a corporation, and is existing and in good standing, under the laws of the State of
                    . 

  

	 	(2)	Pledgor has the corporate power to execute and deliver the Agreement, to perform its obligations there under, to own and use its assets and to conduct its business. 

  
 11 

	 	(3)	Pledgor has duly authorized the execution and delivery of the Agreement and all performance by Pledgor there under and has duly executed and delivered the Agreement. 

 

	 	(4)	The execution and delivery by Pledgor of the Agreement do not, and if Pledgor were now to perform its obligations under the Agreement such performance would not, result in any: 

 

	 	(i)	violation of Pledgor’s articles of incorporation or bylaws; 

  

	 	(ii)	material violation of any existing federal or state constitution, statute, regulation, rule, order, or law to which Pledgor or the assets are subject; 

 

	 	(iii)	material breach of or default under any material written agreements; 

  

	 	(iv)	creation or imposition of a material contractual lien or security interest in, on or against the assets under any written agreements; or 

 

	 	(v)	violation of any judicial or administrative decree, writ, judgment or order to which, to our knowledge, Pledgor or the assets are subject. 

 

	 	(5)	No consent, approval authorization or other action by, or filling with, any governmental authority of the United States or the State of
                     is required for Pledgor’s execution and delivery of the Agreement. 

 

	 	(6)	The Agreement is enforceable against Pledgor in accordance with its terms. 

 This opinion letter is provided to
you for your exclusive use solely in connection with the Agreement, and may not be relied upon by any other person for any purpose or by you for any other purpose without my prior written consent. 

Very truly yours, 

  
 12 

 Exhibit D 

FORM OF RESOLUTION OF BORROWER REGARDING AFFILIATE COLLATERAL PLEDGE 

AND SECURITY AGREEMENT 
 WHEREAS,
                                        
(“Pledgor”) is an Affiliate of                             
                                        
(“Borrower’) (for purposes of this resolution, Affiliate means any person or company which controls, is controlled by, or is under common control with, Borrower, including any holding company, any subsidiary, or any service corporation of
the Borrower); 
 WHEREAS, Borrower is a customer and member of the Federal Home Loan Bank of Des Moines (“Bank”) and desires to obtain loans, or
“advances,” from the Bank to Borrower made pursuant to an Advances, Pledge and Security Agreement dated                     ; 

WHEREAS, Borrower must pledge a certain level of property (“Collateral”) to the Bank in order to secure advances from the Bank; 

WHEREAS, Borrower has requested that Pledgor pledge certain Collateral on behalf of Borrower to the Bank in order for Borrower to secure advances from the
Bank; 
 WHEREAS, an Affiliate Collateral Pledge and Security Agreement (“Pledge Agreement”), which would govern the agreement between the Bank,
Pledgor, and Borrower regarding the Collateral pledged by the Pledgor to the Bank on behalf of Borrower has been presented at this meeting by management with the recommendation that it be adopted; 

NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors of Borrower hereby approves the Pledge Agreement in substantially the form presented to the
Directors and attached hereto; 
 RESOLVED FURTHER, that the Chief Executive Officer and other appropriate officers of Borrower be, and each of them hereby
is, authorized and directed to accept, acknowledge and approve the Pledge Agreement with the Bank; and 
 RESOLVED FURTHER, that the Chief Executive Officer
of Borrower and such other officers of Borrower as he/she shall designate are hereby authorized and directed to make, execute and deliver, or cause to be made, executed and delivered, all such agreements schedules, documents, instruments and other
papers and to pay such fees and expenses and to do or cause to be done all such acts and things, in the name and on behalf of Borrower, under its seal or otherwise, as may be deemed necessary, appropriate or desirable to effectuate or carry out the
purposes and intent of the foregoing resolutions. 

  
 13 

 I HEREBY CERTIFY that the foregoing are true and correct copies of resolutions duly adopted by the Board of
Directors of Borrower on             ,         , and that the same have not been altered, amended, repealed or rescinded and remain in full force and
effect as of this                      day of             ,
        . 
  

	
	  
 [Name of Borrower Corporate
Secretary]

	Secretary

  
 14

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