Document:

Exhibit

Exhibit 10.26.2

EXECUTION VERSION

RECEIVABLES POOLING AGREEMENT
DITECH AGENCY ADVANCE DEPOSITOR LLC
(Depositor)
and
DITECH AGENCY ADVANCE TRUST
(Issuer)
Dated as of February 9, 2018, and effective as of February 12, 2018
DITECH AGENCY ADVANCE TRUST
ADVANCE RECEIVABLES BACKED NOTES, ISSUABLE IN SERIES

TABLE OF CONTENTS
    Page
Section 1.    Definitions; Incorporation by Reference....................................................................2
Section 2.    Transfer of Receivables..............................................................................................4
Section 3.    Depositor’s Acknowledgment and Consent to Assignment.......................................6
Section 4.    Representations, Warranties and Certain Covenants of Depositor.............................6
Section 5.    Remedies Upon Breach............................................................................................12
Section 6.    Termination..............................................................................................................13
Section 7.    General Covenants of Depositor..............................................................................13
Section 8.    Grant Clause.............................................................................................................15
Section 9.    Grant by Issuer.........................................................................................................15
Section 10.    Protection of Indenture Trustee’s Security Interest in Trust Estate..........................15
Section 11.    Limited Recourse.....................................................................................................16
Section 12.    Miscellaneous...........................................................................................................16

Schedule 1    Form of Assignment of Receivables

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RECEIVABLES POOLING AGREEMENT
This RECEIVABLES POOLING AGREEMENT (as it may be amended, restated, supplemented, or otherwise modified from time to time, this “Agreement”) is made as of February 9, 2018, and effective as of February 12, 2018, by and between Ditech Agency Advance Depositor LLC, a limited liability company organized under the laws of the State of Delaware (the “Depositor”), and Ditech Agency Advance Trust, a statutory trust organized under the laws of Delaware (the “Issuer”).
RECITALS
A.    The Depositor is a special purpose Delaware limited liability company wholly owned by Ditech Financial LLC (“Ditech”). The Issuer is a statutory trust organized under the laws of Delaware. Ditech acts as the servicer under one or more certain Freddie Mac Servicing Agreements incorporating the Freddie Mac Guide and one or more certain Fannie Mae Servicing Agreements incorporating the Fannie Mae Guide (each, as it may be amended, restated, supplemented, or otherwise modified from time to time, a “Servicing Agreement” and, collectively, the “Servicing Agreements”), and has the obligation to make Advances thereunder, has the right to collect the related Receivables in reimbursement of such Advances made by Ditech and the right to collect Receivables related to Advances previously made by Ditech (or any predecessor servicer).  One or more Servicing Agreements relating to a Facility Eligible Pool will be identified on the Designated Servicing Agreement Schedule (each, as may be amended, restated, supplemented, or otherwise modified from time to time, a “Designated Servicing Agreement” and, collectively, the “Designated Servicing Agreements”) and the related Facility Eligible Pools in which Ditech acts as servicer (each, a “Designated Pool” and collectively, the “Designated Pools”) will be designated for inclusion under this Agreement pursuant to a Receivables Sale Agreement, dated as of even date herewith, among Ditech, the Depositor, and Ditech Holding Corporation (formerly known as Walter Investment Management Corp.) (as may be amended, restated, supplemented, or otherwise modified from time to time, the “Receivables Sale Agreement”), the “Receivables Sale Agreement” referenced therein and the Indenture (as defined below).
B.    The Issuer, Ditech, as servicer and as Administrator (in such capacity, the “Administrator”), Wells Fargo Bank, N.A., as Indenture Trustee (the “Indenture Trustee”), as Calculation Agent, as Paying Agent and as Securities Intermediary, and Credit Suisse First Boston Mortgage Capital LLC, as administrative agent (the “Administrative Agent”), have entered into an Indenture (as it may be amended, restated, supplemented, or otherwise modified from time to time and including any indenture supplement, the “Indenture”), dated as of even date herewith,  pursuant to which the Issuer shall be permitted to issue different Series of notes (the “Notes”) from time to time, on the terms and conditions set forth in the Indenture.
C.    Upon its disbursement of an Advance with respect to a Designated Pool pursuant to a Designated Servicing Agreement, Ditech, as servicer, becomes the beneficiary of a contractual right to be reimbursed for such Advance in accordance with the terms of the related Designated Servicing Agreement.  Ditech desires to sell, assign, transfer, convey and contribute to the Depositor all its contractual rights to be reimbursed for each Advance disbursed by Ditech (or any predecessor servicer to the extent that Ditech acquires the Advances), as servicer, from the date hereof through 

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the Receivables Sale Termination Date in respect of Designated Pools, under the Designated Servicing Agreements (in any case, which Advance has not been previously reimbursed) (any right to reimbursement in respect of any such Advance, a “Receivable” and, collectively, the “Receivables”).  The Depositor, pursuant to the terms and conditions of this Agreement, will sell and/or contribute, assign, transfer and convey to the Issuer all Receivables acquired by the Depositor from Ditech, as receivables seller, immediately upon the Depositor’s acquisition of such Receivables pursuant to the Receivables Sale Agreement.
D.    The Notes issued by the Issuer pursuant to the Indenture will be collateralized by the Aggregate Receivables and related property and certain monies in respect thereof now owned and to be hereafter acquired by the Issuer.
E.    In consideration of each transfer by the Depositor to the Issuer of the Transferred Assets on the terms and subject to the conditions set forth in this Agreement, the Issuer has agreed to pay to the Depositor a purchase price equal to the fair market value thereof on the related Sale Date.  To the extent the portion of the purchase price actually paid in cash by the Issuer for the Transferred Assets is less than 100% of the fair market value thereof, the balance of the purchase price shall be paid on each Sale Date by an increase in the value of the Owner Trust Certificate of the Issuer, 100% of which is held by the Depositor, in an amount equal to the amount by which the Purchase Price of such Receivable exceeds the portion of the cash purchase price actually paid therefor.
AGREEMENT
NOW, THEREFORE, in consideration of the above premises and of the mutual promises hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:
Section 1.Definitions; Incorporation by Reference.
(a)    This Agreement is entered into in connection with the terms and conditions of the Indenture. Any capitalized term used but not defined herein shall have the meaning given to it in the Indenture. Furthermore, for any capitalized term defined herein but defined in greater detail in the Indenture, the detailed information from the Indenture shall be incorporated herein by reference. 
Additional Receivables: As defined in Section 2(a).
Administrative Agent: As defined in the Recitals.    
Administrator:  As defined in the Recitals.
Aggregate Receivables:  Collectively, all Initial Receivables and all Additional Receivables.
Agreement:  As defined in the Preamble.

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Assignment of Receivables:  Each agreement documenting an assignment by Depositor to the Issuer substantially in the form set forth on Schedule 1.
Closing Date:  February 9, 2018, and effective as of February 12, 2018.
Depositor:  As defined in the Preamble.
Depositor’s Related Documents:  As defined in Section 4(a)(iii).
Designated Pool: As defined in the Recitals.
Designated Servicing Agreement and Designated Servicing Agreements:  As defined in the Recitals.
Designation Date:  A date on which any Pool becomes a Designated Pool after the Closing Date.
Ditech:  As defined in the Recitals.
Excepted Receivable: Any Receivable arising under any Designated Servicing Agreement (i) that arises after the commencement of the Full Amortization Period and (ii) in respect of which the Issuer, the Depositor, the Indenture Trustee and the Administrative Agent shall have received a written notice from Ditech, no later than one (1) Business Day after the origination thereof, (A) identifying such Receivable in reasonable detail and (B) certifying that Ditech has concluded in its reasonable discretion (with reasonable supporting detail therefor) that Ditech will not receive reasonably equivalent value for the transfer of any such identified Receivable because the value of the equity of the Depositor was negative prior to the contribution of such Receivable after taking into account all of the following, among other relevant factors, (1) borrowings under the subordinated note contemplated by the Receivables Sale Agreement, and (2) any indemnification payments owing by Ditech to the Depositor under the Receivables Sale Agreement (giving effect to the full value of such indemnification payment obligations as an asset of the Depositor).
Full Amortization Period: As defined in the Indenture.
Indenture:  As defined in the Recitals.
Indenture Trustee:  As defined in the Recitals.
Initial Receivables: As defined in Section 2(a).
Issuer:  As defined in the Preamble. 
Notes: As defined in the Indenture.
Purchase:  Each transfer by the Issuer from the Depositor of Transferred Assets.
Purchase Price:  As defined in Section 2(b).
Receivable and Receivables:  As defined in the Recitals. 

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Receivables Sale Agreement:  As defined in the Recitals.
Receivables Sale Termination Date:  The date, after the conclusion of the Revolving Period, on which all amounts due on all Classes of Notes issued by the Issuer pursuant to the Indenture, and all other amounts payable to any party pursuant to the Indenture, shall have been paid in full.
Removed Servicing Agreement: As defined in Section 2(c).
Sale Date:  (i) With respect to the Initial Receivables, the Closing Date and (ii) with respect to any Additional Receivables, each date after the Closing Date and prior to the Receivables Sale Termination Date on which such Additional Receivable is sold and/or contributed, assigned, transferred and conveyed by the Depositor to the Issuer pursuant to the terms of this Agreement.
Series: As defined in the Indenture.
Servicing Agreement and Servicing Agreements: As defined in the Recitals.
Stop Date: As defined in Section 2(c).  
Subsidiary:  With respect to any Person (i) any corporation more than 50% of the outstanding securities having ordinary voting power of which shall at the time be owned or controlled, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, or (ii) any partnership, limited liability company, association, joint venture or similar business organization more than 50% of the ownership interests having ordinary voting power of which shall at the time be so owned or controlled.
Transferred Assets:  As defined in Section 2(a).
UCC:  As defined in Section 2(a). 
(b)    The Designated Servicing Agreement Schedule, as may be amended, restated, supplemented, or otherwise modified from time to time in accordance with the Transaction Documents, is incorporated by this reference into this Agreement.
Section 2.    Transfer of Receivables.
(a)    Transferred Assets.  On the date hereof, the Depositor will sell, contribute, assign and convey to the Issuer, and the Issuer will purchase and acquire from the Depositor without recourse, all of the Depositor’s right, title and interest, whether now owned or hereafter acquired, in, to and under (1) each Receivable in existence on the Closing Date with respect to any Pool that is subject to any Servicing Agreement that is listed on the Designated Servicing Agreement Schedule as a “Designated Servicing Agreement” (the “Initial Receivables”), (2) each Receivable in existence on any Business Day after the Closing Date and prior to the Receivables Sale Termination Date that arises with respect to any Pool that is subject to any Servicing Agreement that is listed on the Designated Servicing Agreement Schedule as a “Designated Servicing Agreement” (the “Additional Receivables”) and (3) in the case of both Initial Receivables and Additional Receivables, all monies due or to become due and all amounts received or receivable with respect thereto and all proceeds 

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(including “proceeds” as defined in the Uniform Commercial Code in effect in all applicable jurisdictions (the “UCC”)), together with all rights of the Depositor to enforce such Initial Receivables and Additional Receivables (collectively, “the “Transferred Assets”).  Until the Receivables Sale Termination Date, the Depositor shall, automatically and without any further action on its part, sell and/or contribute, assign, transfer and convey to the Issuer, on each Business Day, each Additional Receivable (other than any Excepted Receivable) not previously transferred to the Issuer and the Issuer shall purchase each such Additional Receivable together with all of the other Transferred Assets related to such Receivable.
(b)    Purchase Price.  In consideration of the sale and/or contribution, assignment, transfer and conveyance to the Issuer of the Aggregate Receivables and related Transferred Assets, on the terms and subject to the conditions set forth in this Agreement, the Issuer shall, on each Sale Date, pay and deliver to the Depositor, in immediately available funds on the related Sale Date, or otherwise promptly following such Sale Date if so agreed by the Depositor and the Issuer, a purchase price (the “Purchase Price”) equal to (i) in the case of one Receivable sold, assigned, transferred and conveyed on such Sale Date, the fair market value of such Receivable on such Sale Date or (ii) in the case more than one Receivable is sold, assigned, transferred and conveyed on such Sale Date, the aggregate of the fair market values of such Receivables on such Sale Date, payable in cash to the extent of funds available to the Issuer, plus an increase in the value of the Owner Trust Certificate of the Issuer, to the extent the Purchase Price exceeds the cash paid.
(c)    Removal of Designated Servicing Agreements and Receivables.  On any date on or after the satisfaction of all conditions specified in Section 2.1(c) of the Indenture, the Depositor may remove a Designated Servicing Agreement or a Designated Pool from the Designated Servicing Agreement Schedule for purposes of this Agreement (each such Servicing Agreement or Designated Pool so removed, a “Removed Servicing Agreement” and a “Removed Pool”, respectively). Upon the removal of a Designated Servicing Agreement from the Designated Servicing Agreement Schedule, (i) except if Ditech conducts a Permitted Refinancing, all Receivables related to Advances under such Removed Servicing Agreement previously transferred to the Issuer and Granted to the Indenture Trustee for inclusion in the Trust Estate, shall remain subject to the lien of the Indenture, in which case Ditech may not assign to another Person any Receivables arising under that Removed Servicing Agreement until all Receivables that arose under that Removed Servicing Agreement or that Pool that are included in the Trust Estate shall have been paid in full or sold in a Permitted Refinancing, and (ii) all Receivables related to such Removed Servicing Agreement or Removed Pool arising on or after the date that the related Servicing Agreement was removed from the Designated Servicing Agreement Schedule (the “Stop Date”) shall not be sold to the Issuer and shall not constitute Receivables.  
(d)    Marking of Books and Records.  The Depositor shall, at its own expense, indicate in its books and records (including its computer records) that the Receivables in respect of a Designated Pool arising under each Designated Servicing Agreement and the related Transferred Assets have been sold and/or contributed, assigned, transferred and conveyed to the Issuer in accordance with this Agreement.  The Depositor shall not alter the indication referenced in this paragraph with respect to any Receivable during the term of this Agreement, (except in accordance with Section 10(b)).  If a third party, including a potential purchaser of a Receivable, should inquire 

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as to the status of the Receivables, the Depositor shall promptly indicate to such third party that the Receivables have been sold and/or contributed, assigned, transferred and conveyed and the Depositor (except in accordance with Section 10(b)) shall not claim any right, title or interest (including, but not limited to ownership interest) therein.
Section 3.    Depositor’s Acknowledgment and Consent to Assignment.
(a)    Acknowledgment and Consent to Assignment.  The Depositor hereby acknowledges that the Issuer has Granted to the Indenture Trustee, on behalf of the Noteholders, the rights (but not the obligations) of the Issuer under this Agreement, including, without limitation, the right to enforce the obligations of the Depositor hereunder and thereunder, and the obligations of Ditech under the Receivables Sale Agreement.  The Depositor hereby consents to such Grant by the Issuer to the Indenture Trustee pursuant to the Indenture.  The Depositor acknowledges that the Indenture Trustee (on behalf of itself and the Secured Parties) shall be a third party beneficiary in respect of the representations, warranties, covenants, rights, indemnities and other benefits arising hereunder that are so Granted by the Issuer.  Moreover, the Depositor hereby authorizes and appoints as its attorney-in-fact the Issuer and the Indenture Trustee, as the Issuer’s  assignee, on behalf of the Issuer, to execute and deliver such documents or certificates as may be necessary in order to enforce its rights under this Agreement and its rights to collect the Aggregate Receivables.
Section 4.    Representations, Warranties and Certain Covenants of Depositor.
The Depositor hereby makes the following representations, warranties and covenants for the benefit of the Issuer, the Indenture Trustee and the Noteholders, on which the Issuer is relying in purchasing the Aggregate Receivables pursuant to this Agreement, and on which the Noteholders are relying in purchasing the Notes. The representations are made as of the date of this Agreement, and as of each Sale Date.  Such representations and warranties shall survive the sale and/or contribution, assignment, transfer and conveyance of any Receivables and any related Transferred Assets to the Issuer.
(a)    General Representations and Warranties.
(i)    Organization and Good Standing.  The Depositor is a limited liability company duly organized and validly existing under the laws of the State of Delaware with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and had at all relevant times, and now has and so long as any Notes are outstanding, will continue to have, power, authority and legal right to acquire, own, hold, transfer, assign and convey the Receivables.
(ii)    Due Qualification.  The Depositor is and will continue to be duly qualified to do business as a limited liability company in good standing, and has obtained and will keep in full force and effect all necessary licenses, permits and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications, licenses, permits or approvals and as to which the failure to obtain or to keep in full force and effect such licenses, permits or approvals would have an Adverse Effect.

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(iii)    Power and Authority.  The Depositor has and will continue to have all requisite limited liability company power and authority to own the Receivables, and the Depositor has and will continue to have all requisite limited liability company power and authority to execute and deliver this Agreement and each other Transaction Document to which it is a party and any and all other instruments and documents necessary to consummate the transactions contemplated hereby or thereby (collectively, the “Depositor’s Related Documents”), and to perform each of its obligations under this Agreement and under the Depositor’s Related Documents, and to consummate the transactions contemplated hereby and thereby.  The execution and delivery of this Agreement by the Depositor, and the execution and delivery of each of the Depositor’s Related Documents by the Depositor, the performance by the Depositor of its obligations hereunder and thereunder, and the consummation of the transactions contemplated hereby and thereby have each been duly authorized by the Depositor and no further limited liability company action or other actions are required to be taken by the Depositor in connection therewith.
(iv)    Valid Transfer.  This Agreement evidences a valid sale and/or contribution, transfer, assignment and conveyance of the applicable Additional Receivables as of the applicable Sale Date to the Issuer, which is enforceable against creditors of and purchasers from the Depositor, except as such enforceability may be limited by bankruptcy, insolvency or similar laws and by equitable principles.  
(v)    Binding Obligation.  This Agreement and each of the other Transaction Documents to which the Depositor is a party has been, or when delivered will have been, duly executed and delivered and constitutes the legal, valid and binding obligation of the Depositor, enforceable against the Depositor, in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency or similar laws and by equitable principles.
(vi)    Good Title.  Immediately prior to each Purchase of Receivables hereunder, the Depositor is the legal and beneficial owner of each such Receivable and the related Transferred Assets with respect thereto, free and clear of any Adverse Claims other than Permitted Liens; and immediately upon the transfer and assignment thereof, the Issuer and its assignees will have good and marketable title to, with the right to sell and encumber, each Receivable, whether now existing or hereafter arising, together with the related Transferred Assets with respect thereto, free and clear of any Adverse Claims other than Permitted Liens.
(vii)    Perfection.
(A)    This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Aggregate Receivables and the related Transferred Assets with respect thereto in favor of the Issuer, which security interest is prior to all other Adverse Claims (other than Permitted Liens of the type described in clause (ii) of the definition thereof), and is enforceable as such against creditors of and purchasers from the Depositor;

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(B)    The Depositor has caused the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under the UCC in order to perfect the security interest in the Aggregate Receivables and the related Transferred Assets granted to the Issuer hereunder; 
(C)    The Depositor has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Aggregate Receivables and the related Transferred Assets, other than under this Agreement, except pursuant to any agreement that has been terminated or lien arrangement that has otherwise been released on or prior to the sale of the related Receivables hereunder, and any rights in the Receivables that were pledged, assigned, sold, granted or otherwise conveyed pursuant to such agreement or arrangement have been released on or prior to the sale of the related Receivables hereunder, and such Receivables that were subject to such agreement or arrangement are being sold by the Depositor to the Issuer free and clear of any Adverse Claim (other than any Permitted Lien).  The Depositor has not authorized the filing of and is not aware of any financing statement filed against the Depositor covering the Aggregate Receivables and the related Transferred Assets other than those filed in connection with this Agreement and the other Transaction Documents, and those that have been terminated prior to the date hereof;
(D) The Security Interest granted pursuant to this Agreement is subject and subordinate, in each and every respect, to all rights, powers, and prerogatives of the Federal Home Loan Mortgage Corporation (“Freddie Mac”) under and in connection with (i) the terms and conditions of that certain Consent Agreement, dated as of the date hereof (as may be amended or modified from time to time in accordance with its express terms, the “Consent Agreement”), with respect to the “Reimbursement Assignments and Pledge” of the “Reimbursement Rights” (as such terms are defined in the Consent Agreement), by and among Freddie Mac, Ditech, Depositor, Issuer, Indenture Trustee and Administrative Agent, (ii) the terms and conditions of the Purchase Documents as defined in the Freddie Mac Single Family Seller/Servicer Guide, as it may be amended from time to time, other than as set forth pursuant  to  the  express  terms and provisions of the Consent Agreement, and (iii) all claims of Freddie Mac arising out of or relating to any and all breaches, defaults and outstanding obligations of debtor to Freddie Mac; and

(E) The transfer of interests in the Aggregate Receivables and the Security Interest described herein are subject and subordinate to all rights, powers, and prerogatives of Fannie Mae under and in connection with (i) the terms and conditions of that certain Acknowledgment Agreement With Respect to Servicing Advance Receivables, by and among Fannie Mae, Ditech, Depositor, Issuer, Indenture Trustee and Administrative Agent and (ii) the Mortgage Selling and Servicing Contract, the Fannie Mae Selling Administrative Agent Guide, the Fannie Mae Servicing Guide and any supplemental servicing instructions or directives provided by Fannie Mae, all applicable master agreements (including applicable MBS pool purchase contracts and variances), recourse agreements, repurchase agreements, indemnification 

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agreements, loss sharing agreements, and any other agreements between Fannie Mae and the Debtor, and all as amended, modified, restated or supplemented from time to time (collectively, the “Fannie Mae Lender Contract”), which rights, powers, and prerogatives include, without limitation, the right of Fannie Mae to terminate the Fannie Mae Lender Contract with or without cause.

(viii)    No Violation.  Neither the execution, delivery and performance of this Agreement, the other Transaction Documents or the Depositor’s Related Documents by the Depositor nor the consummation by the Depositor of the transactions contemplated hereby or thereby nor the fulfillment of or compliance with the terms and conditions of this Agreement, the Depositor’s Related Documents or the other Transaction Documents to which the Depositor is a party (A) will violate the organizational documents of the Depositor, (B) will constitute a default (or an event which, with notice or lapse of time or both, would constitute a default), or result in a breach or acceleration of, any material indenture, agreement or other material instrument to which the Depositor or any of its subsidiaries is a party or by which it or any of them is bound, or which may be applicable to the Depositor, (C) results in the creation or imposition of any Adverse Claim upon any of the property or assets of the Depositor under the terms of any of the foregoing except as contemplated hereby, or (D) violates any statute, ordinance or law or any rule, regulation, order, writ, injunction or decree of any court or of any public, governmental or regulatory body, agency or authority applicable to the Depositor or its properties.
(ix)    No Proceedings.  There is no action, suit or proceeding before or by any court or governmental agency or body, domestic or foreign, now pending, or to the Depositor’s knowledge, threatened, or against the Depositor (A) in which a third party not affiliated with the Indenture Trustee or a Noteholder asserts the invalidity of any of the Transaction Documents, (B) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by any of the Transaction Documents, (C) seeking any determination or ruling that should reasonably be expected to affect materially and adversely the performance by the Depositor or its Affiliates of their obligations under, or the validity or enforceability of, any of the Transaction Documents or (D) relating to the Depositor or its Affiliates and which should reasonably be expected to affect adversely the federal income tax attributes of the Notes.
(x)    Ownership of Issuer.  100% of the Owner Trust Certificate of the Issuer is owned by the Depositor.  No Person other than the Depositor has any rights to acquire all or any portion of the Owner Trust Certificate in the Issuer.
(xi)    Solvency.  The Depositor, both prior to and after giving effect to each sale and/or contribution of Receivables with respect to the Designated Servicing Agreements on each Sale Date, (1) is not, and will not be, “insolvent” (as such term is defined in § 101(32)(A) of the Bankruptcy Code), (2) is, and will be, able to pay its debts as they become due, and (3) does not have unreasonably small capital for the business in which it is engaged or for any business or transaction in which it is about to engage.

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(xii)    No Fraudulent Conveyance.  The Depositor is selling and/or contributing the Aggregate Receivables to the Issuer in furtherance of its ordinary business purposes, with no intent to hinder, delay or defraud any of its creditors.
(xiii)    Information.  No document, certificate or report furnished by the Depositor in writing pursuant to this Agreement, any other Transaction Document or in connection with the transactions contemplated hereby or thereby, taken together, contains or will contain when furnished any untrue statement of a material fact.  
(xiv)    Fair Consideration.  The aggregate consideration received by the Depositor pursuant to this Agreement is fair consideration having reasonably equivalent value to the value of the Aggregate Receivables and the performance of the Depositor’s obligations hereunder.
(xv)    Name.  The legal name of the Depositor is as set forth in this Agreement and the Depositor does not have any trade names, fictitious names, assumed names or “doing business” names except those identified in accordance with the terms hereof.
(xvi)    No Subsidiaries.  The Depositor has no Subsidiaries other than the Issuer.
(xvii)    Special Purpose Entity.  The Depositor is operated as an entity separate from Ditech.  In addition, the Depositor:
(A)    maintains and will continue to maintain its assets separate and distinct from those of Ditech and any Affiliates of Ditech in a manner which facilitates their identification and segregation from those of Ditech;
(B)    conducts and will continue to conduct all intercompany transactions with Ditech or any Affiliate of Ditech on an arm’s‐length basis;
(C)    has not guaranteed and will not guarantee any obligation of Ditech or any of Ditech’s Affiliates, nor has it had or will it have any of its obligations guaranteed by any such entities and has not held and will not hold itself out as responsible for debts of any such entity or for the decisions or actions with respect to the business affairs of any such entity;
(D)    has not permitted and will not permit the commingling or pooling of its funds or other assets with the assets of Ditech or any Affiliate of Ditech (other than in respect of items of payment and funds which may be commingled until deposit into the Trust Accounts);
(E)    has and will continue to have separate deposit and other bank accounts to which neither Ditech nor any of its Affiliates has any access and does not at any time pool any of its funds with those of Ditech or any of its Affiliates;
(F)    maintains and will continue to maintain financial records which are separate from those of Ditech or any of its Affiliates;

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(G)    compensates and will continue to compensate all employees, consultants and agents, if any, or reimburses Ditech from its own funds, for services provided to it by such employees, consultants and agents, and, to the extent any employee, consultant or agent of it is also an employee, consultant or agent of Ditech allocate the compensation of such employee, consultant or agent between it and Ditech as agreed to between them on an arm’s length basis;
(H)    conducts and will continue to conduct all of its business (whether in writing or orally) solely in its own name and on its own stationery and pays and will continue to pay its own expenses, makes and will make all communications to third parties (including all invoices (if any), letters, checks and other instruments) solely in its own name (and not as a division of any other Person), and requires and will require that its employees, if any, when conducting its business identify themselves as such (including, without limitation, by means of providing appropriate employees with business or identification cards identifying such employees as its employees);
(I)    adheres and will continue to adhere and comply with its organizational documents and maintains and will maintain company records and books of account separate and distinct from Ditech’s corporate records and the records of any Affiliate of Ditech;
(J)    does not and will not permit Ditech or any Affiliate of Ditech, to be involved in its daily management; provided, however, that officers of Ditech or any such Affiliate shall not be prohibited from serving as officers of it;
(K)    does not and will not act as agent for Ditech or any Affiliate of Ditech and agrees that it will not authorize Ditech or any Affiliate of Ditech to act as its agent; provided, however, that officers of Ditech or any such Affiliate shall not be prohibited from serving as officers of it;
(L)    pays and will continue to pay its own incidental administrative costs and expenses from its own funds, allocates and will continue to allocate all other shared overhead expenses (including, without limitation, telephone and other utility charges, the services of shared employees, consultants and agents, and reasonable legal and auditing expenses), and other items of cost and expense shared between it and Ditech, as agreed to between them on an arm’s length basis; and
(M)    takes and shall continue to take such actions as are necessary on its part to ensure that all procedures required by its organizational documents are duly and validly taken.
(b)    Survival.  It is understood and agreed that the representations and warranties of the Depositor set forth in Section 4(a) shall continue throughout the term of this Agreement.
(c)    It is understood and agreed that the (1) representations and warranties made by Ditech pursuant to Section 4(b) of the Receivables Sale Agreement, and the representations and warranties 

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made by the Depositor pursuant to this Agreement, on which the Issuer is relying in accepting the Receivables and executing this Agreement and on which the Noteholders are relying in purchasing the Notes, and (2) the rights and remedies of the Depositor and its assignees under the Receivables Sale Agreement against Ditech, and the rights and remedies of the Issuer and its assignees under this Agreement against the Depositor, inure to the benefit of the Issuer and the Indenture Trustee for the benefit of the Noteholders, as the assignees of the Depositor’s rights under the Receivables Sale Agreement and the Issuer’s rights hereunder. Such representations and warranties, and the rights and remedies for the breach thereof, shall survive the sale and/or contribution, assignment, transfer and conveyance of any Receivables from the Depositor to the Issuer and its assignees and the pledge thereof by the Issuer to the Indenture Trustee for the benefit of the Noteholders and shall be fully exercisable by the Indenture Trustee for the benefit of the Noteholders.
Section 5.    Remedies Upon Breach
The Depositor shall inform the Indenture Trustee, the Administrator, each Noteholder and the Administrative Agent promptly, in writing, upon the discovery of any breach of the Depositor’s representations, warranties or covenants hereunder, or Ditech’s representations, warranties or covenants under the Receivables Sale Agreement.  In the case of breach of any representation or warranty set forth in Section 4(a) by the Depositor with respect to any Receivable on the Sale Date therefor, unless such breach shall have been cured or waived within thirty (30) days after the earlier to occur of the discovery of breach or the Depositor’s receipt of written notice of such breach by the Depositor from the Administrative Agent, Ditech, the Issuer or the Indenture Trustee, such that, in the case of a representation and warranty, such representation and warranty shall be true and correct in all material respects as if made on such day, and the Depositor shall have delivered to the Indenture Trustee an officer’s certificate describing the nature of such breach and the manner in which the relevant representation and warranty became true and correct or the breach was otherwise cured, the Depositor shall either repurchase the affected Receivables or indemnify the Issuer and its assignees (including the Issuer, the Indenture Trustee and each of their respective assignees) against and hold the Issuer and its assignees (including the Issuer, the Indenture Trustee and each of their respective assignees) harmless from any cost, liability and expense, including, without limitation, reasonable attorneys’ fees and expenses, whether incurred in enforcement proceedings between the parties or otherwise, incurred as a result of, or arising from, such breach (each such repurchase or indemnification amount to be paid hereunder, an “Indemnity Payment”), the amount of which shall equal the Receivable Balance of any affected Receivable.  This Section 5 sets forth the exclusive remedy for a breach of representation, warranty or covenant pertaining to a Receivable.  Notwithstanding the foregoing, the breach of any representation, warranty or covenant by the Depositor set forth in Section 4(a) shall not be waived by the Issuer under any circumstances without the consent of the Administrative Agent, which in any case will not consent to waive such representation, warranty or covenant without the consent of the Majority Noteholders of all Outstanding Notes.
Section 6.    Termination.
This Agreement (a) may not be terminated prior to the termination of the Indenture and (b) may be terminated at any time thereafter by either party upon written notice to the other party.

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Section 7.    General Covenants of Depositor.
The Depositor covenants and agrees that from the date of this Agreement until the termination of the Indenture:
(a)    Bankruptcy.  The Depositor agrees that it shall comply with Section 12(l).  The Depositor has not engaged in and does not expect to engage in a business for which its remaining property represents an unreasonably small capitalization.  The Depositor will not transfer any of the Aggregate Receivables with an intent to hinder, delay or defraud any Person.
(b)    Legal Existence.  The Depositor shall do or cause to be done all things necessary on its part to preserve and keep in full force and effect its existence in the jurisdiction of its formation, and to maintain each of its licenses, approvals, registrations and qualifications in all jurisdictions in which its ownership or lease of property or the conduct of its business requires such licenses, approvals, registrations or qualifications, except for failures which, individually or in the aggregate, would not reasonably be expected to have a material adverse effect on the financial conditions, operations or the ability of the Depositor or the Issuer to perform its obligations hereunder or under any of the other Transaction Documents.
(c)    Compliance With Laws.  The Depositor shall comply with all laws, rules, regulations and orders of any governmental authority applicable to its operation, the noncompliance with which would reasonably be expected to have a material adverse effect on the financial condition, operations or the ability of Ditech, as receivables seller and servicer, the Depositor or the Issuer to perform their obligations hereunder or under any of the other Transaction Documents.
(d)    Taxes.  The Depositor shall pay and discharge all taxes, assessments and governmental charges or levies imposed upon the Depositor or upon its income and profits, or upon any of its property or any part thereof, before the same shall become in default; provided that the Depositor shall not be required to pay and discharge any such tax, assessment, charge or levy so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings, or so long as the failure to pay any such tax, assessment, charge or levy would not have a material adverse effect on the ability of the Depositor to perform its obligations hereunder.  The Depositor shall have set aside on its books adequate reserves with respect to any such tax, assessment, charge or levy so contested.
(e)    Keeping of Records and Books of Account.  The Depositor shall maintain accurate, complete and correct documents, books, records and other information which is reasonably necessary for the collection of all Aggregate Receivables (including, without limitation, records adequate to permit the prompt identification of each new Receivable and all collections of, and adjustments to, each existing Receivable).
(f)    Ownership.  The Depositor will take all necessary action to establish and maintain, irrevocably in the Issuer, legal and equitable title to the Aggregate Receivables and the related Transferred Assets, free and clear of any Adverse Claim (including, without limitation, the filing of all financing statements or other similar instruments or documents necessary under the UCC (or any comparable law) in all appropriate jurisdictions to perfect the Issuer’s interest in such Aggregate 

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Receivables and related Transferred Assets and such other action to perfect, protect or more fully evidence the interest of the Issuer or the Indenture Trustee (as the Depositor’s assignee) may reasonably request).
(g)    Reliance on Separateness.  The Depositor acknowledges that the Indenture Trustee and the Noteholders are entering into the transactions contemplated by the Transaction Documents in reliance upon the Depositor’s and Issuer’s identity as a legal entity that is separate from Ditech.  Therefore, from and after the date of execution and delivery of this Agreement, the Depositor will take all reasonable steps to maintain each of the Depositor’s and Issuer’s identity as a separate legal entity and to make it manifest to third parties that each of the Depositor and the Issuer is an entity with assets and liabilities distinct from those of Ditech.  Without limiting the generality of the foregoing and in addition to the other covenants set forth herein, the Depositor (i) will not hold itself out to third parties as liable for the debts of the Issuer nor purport to own the Aggregate Receivables and other related Transferred Assets and (ii) will take all other actions necessary on its part to ensure that the facts and assumptions regarding it set forth in the opinion issued by Sidley Austin LLP, dated the Closing Date, relating to substantive consolidation issues remain true and correct, in all material respects, at all times. 
(h)    Name Change, Offices and Records.  In the event the Depositor makes any change to its name (within the meaning of Section 9-507(c) of any applicable enactment of the UCC), type or jurisdiction of organization or location of its books and records the Depositor shall notify the Issuer and the Indenture Trustee thereof and (except with respect to a change of location of books and records) shall deliver to the Indenture Trustee not later than thirty (30) days after the effectiveness of such change (i) such financing statements (Forms UCC1 and UCC3) which the Indenture Trustee (acting at the direction of the Administrative Agent) may reasonably request to reflect such name change, or change in type or jurisdiction of organization, (ii) if the Indenture Trustee shall so request, an opinion of outside counsel to the Depositor, in form and substance reasonably satisfactory to the Indenture Trustee, as to the perfection and priority of the Issuer’s security interest in the Aggregate Receivables in such event, (iii) such other documents and instruments that the Indenture Trustee (acting at the direction of the Administrative Agent) on behalf of the Noteholders may reasonably request in connection therewith and shall take all other steps to ensure that the Issuer continues to have a first priority, perfected security interest in the Aggregate Receivables and the related Transferred Assets.
(i)    Location of Jurisdiction of Organization and Records.  In the case of a change in the jurisdiction of organization of the Depositor, or in the case of a change in the “location” of the Depositor for purposes of Section 9-307 of the UCC, the Depositor must take all actions necessary or reasonably requested by the Issuer, the Administrative Agent or the Indenture Trustee to amend its existing financing statements and continuation statements, and file additional financing statements and to take any other steps reasonably requested by the Issuer, the Administrative Agent or the Indenture Trustee to further perfect or evidence the rights, claims or security interests of any of the Issuer or any assignee or beneficiary of the Issuer’s rights under this Agreement, including the Indenture Trustee on behalf of the Noteholders under any of the Transaction Documents.
Section 8.    Grant Clause.

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It is the intention of the parties hereto that each transfer and assignment contemplated by this Agreement shall constitute an absolute sale or contribution, as applicable, of the related Receivables from the Depositor to the Issuer and that the Aggregate Receivables shall not be part of Depositor’s estate or otherwise be considered property of the Depositor in the event of the bankruptcy, receivership, insolvency, liquidation, conservatorship or similar proceeding relating to the Depositor or any of its Property.  However, if such conveyance is deemed to be in respect of a loan, it is intended that the rights and obligations of the parties shall be established pursuant to the terms of this Agreement.  Accordingly, the Depositor hereby grants to the Issuer a first priority security interest in all of the Depositor’s right, title and interest in, to and under, whether now owned or hereafter acquired, the Aggregate Receivables and the other Transferred Assets to secure payment of a debt equal to the purchase price for such Aggregate Receivables and other Transferred Assets.  This Agreement shall constitute a security agreement under applicable law.  The Depositor will, to the extent consistent with this Agreement, take such reasonable actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in the Aggregate Receivables and the other Transferred Assets to secure payment or performance of an obligation, such security interest would be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of this Agreement.  The Depositor has made all such initial filings.
The Depositor hereby authorizes the Issuer and its assignees, successors and designees to file one or more UCC financing statements, financing statement amendments and continuation statements to perfect the security interest described herein.
Section 9.    Grant by Issuer.
The Issuer shall have the right, upon notice to but without the consent of the Depositor, to Grant, in whole or in part, its interest under this Agreement with respect to the Receivables to the Indenture Trustee and the Indenture Trustee then shall succeed to all rights of the Issuer under this Agreement.  All references to the Issuer in this Agreement shall be deemed to include its assignee or designee, specifically including the Issuer and the Indenture Trustee.
Section 10.    Protection of Indenture Trustee’s Security Interest in Trust Estate.
(a)    The Depositor shall maintain accounts and records as to each Receivable accurately and in sufficient detail to permit the reader thereof to know at any time following reasonable prior notice delivered to the Depositor, the status of such Receivable, including payments and recoveries made and payments owing. The Schedule of Receivables has been delivered to the Indenture Trustee and shall remain in its possession or control.
(b)    The Depositor will maintain its computer records so that, from and after the Grant of the security interest under the Indenture, the Depositor’s master computer records (including any back-up archives) that refer to any Receivables indicate that the Receivables are owned by the Issuer and pledged to the Indenture Trustee on behalf of the Noteholders.  Indication of the Indenture Trustee’s interest in a Receivable shall be deleted from or modified on the Depositor’s records when, and only when, the Receivable has been paid in full or released from the lien of the Indenture pursuant to the Indenture.

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Section 11.    Limited Recourse.
No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer under this Agreement or any certificate or other writing delivered in connection herewith or therewith, against (a) any owner of a beneficial interest in the Issuer or (b) any holder of a beneficial interest in the Issuer in its individual capacity, except as any such Person may have expressly agreed. Notwithstanding any other terms of this Agreement, the Notes, any other Transaction Documents or otherwise, the obligations of the Issuer under the Notes, the Indenture, this Agreement and each other Transaction Document to which it is a party are limited recourse obligations of the Issuer, payable solely from the Trust Estate, and following realization of the Trust Estate and application of the proceeds thereof in accordance with the terms of the Indenture, none of the Noteholders, the Indenture Trustee or any of the other parties to the Transaction Documents shall be entitled to take any further steps to recover any sums due but still unpaid hereunder or thereunder, all claims in respect of which shall be extinguished and shall not thereafter revive. No recourse shall be had for the payment of any amount owing in respect of the Notes, the Indenture or this Agreement or for any action or inaction of the Issuer against any officer, director, employee, shareholder, stockholder or incorporator of the Issuer or any of their successors or assigns for any amounts payable under the Notes or this Agreement.  It is understood that the foregoing provisions of this Section 11 shall not (i) prevent recourse to the Trust Estate for the sums due or to become due under any security, instrument or agreement which is part of the Trust Estate or (ii) save as specifically provided therein, constitute a waiver, release or discharge of any indebtedness or obligation evidenced by the Notes or secured by the Indenture.  It is further understood that the foregoing provisions of this Section 11 shall not, subject to Section 12(l) hereof, limit the right of any Person, to name the Issuer as a party defendant in any proceeding or in the exercise of any other remedy under the Notes or this Agreement, so long as no judgment in the nature of a deficiency judgment or seeking personal liability shall be asked for or (if obtained) enforced against any such Person or entity.
Section 12.    Miscellaneous.
(a)    Amendment.  Except as permitted expressly by the Indenture or as otherwise set forth herein, as applicable, this Agreement may not be amended except by an instrument in writing, signed by the Depositor and the Issuer, with the written consent of the Administrative Agent and, if requested by the Administrative Agent, supported by the delivery of an Issuer Tax Opinion.  In addition, so long as the Notes are outstanding, this Agreement may not be amended without, collectively (x) (i) the consent of the Majority Noteholders of all Outstanding Notes that are not Variable Funding Notes and (ii) the consent of the Series Required Noteholders for each Series of Variable Funding Notes, or (y) (i) the amendment is for a purpose for which the Indenture could be amended without any Noteholder consent pursuant to Section 12.1 thereof and (ii) the Depositor shall have delivered to the Indenture Trustee an officer’s certificate to the effect that the Depositor reasonably believes that such amendment could not have a material Adverse Effect on any Outstanding Notes and is not reasonably expected to have a material Adverse Effect at any time in the future.  Any such amendment requested by the Depositor shall be at its own expense. Amendments shall require notice to Note Rating Agencies, if any, as described in Section 11(a) of the Receivables Sale Agreement. 

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(b)    Binding Nature; Assignment.  The covenants, agreements, rights and obligations contained in this Agreement shall be binding upon the successors and assigns of the Depositor and shall inure to the benefit of the successors and assigns of the Issuer, and all persons claiming by, through or under the Issuer. 
(c)    Entire Agreement.  This Agreement contains the entire agreement and understanding among the parties hereto with respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements, understandings, inducements and conditions, express or implied, oral or written, of any nature whatsoever with respect to the subject matter hereof.  The express terms hereof control and supersede any course of performance and/or usage of the trade inconsistent with any of the terms hereof.
(d)    RESERVED.
(e)    Severability of Provisions.  Any provision of this Agreement which is prohibited, unenforceable or not authorized in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition, unenforceability or non‐authorization without invalidating the remaining provisions hereof or affecting the validity, enforceability or legality of such provision in any other jurisdiction.
(f)    Governing Law.  THIS AGREEMENT AND ANY CLAIM CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO OR IN CONNECTION WITH THIS AGREEMENT, THE RELATIONSHIP OF THE PARTIES HERETO, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES HERETO SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).
(g)    WAIVER OF JURY TRIAL.  EACH OF THE PARTIES HERETO WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN AN LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
(h)    Counterparts.  This Agreement may be executed in several counterparts and all so executed shall constitute one agreement binding on all parties hereto, notwithstanding that all the parties have not signed the original or the same counterpart. Any counterpart hereof signed by a party against whom enforcement of this Agreement is sought shall be admissible into evidence as an original hereof to prove the contents thereof.  Delivery of an executed counterpart of a signature page to this Agreement by facsimile or other electronic means shall be effective as delivery of a manually executed counterpart of this Agreement.
(i)    Indulgences; No Waivers.  Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or future exercise of the same or of any other right, remedy, power or privilege, nor shall any waiver 

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of any right, remedy, power or privilege with respect to any other occurrence.  No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver.
(j)    Headings Not to Affect Interpretation.  The headings contained in this Agreement are for convenience of reference only, and they shall not be used in the interpretation hereof.
(k)    Benefits of Agreement.  Nothing in this Agreement, express or implied, shall give to any Person, other than the parties to this Agreement and their successors hereunder, any benefit of any legal or equitable right, power, remedy or claim under this Agreement.
(l)    No Petition.  The Depositor, by entering into this Agreement, agrees that it will not at any time prior to the date which is one year and one day, or, if longer, the applicable preference period then in effect, after the payment in full of all of the Notes, institute against the Issuer, or join in any  institution against the Issuer of, Insolvency Proceedings or other similar proceedings, or other proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to the Notes or this Agreement, or cause the Issuer to commence any reorganization, bankruptcy proceedings, or Insolvency Proceedings under any applicable state or federal law, including without limitation any readjustment of debt, or marshaling of assets or liabilities or similar proceedings.  This Section 12(l) shall survive termination of this Agreement.
(m)    Owner Trustee Limitation of Liability.  It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Wilmington Trust, National Association, not individually or personally, but solely as Owner Trustee of the Issuer under the Trust Agreement, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representation, undertaking and agreement by Wilmington Trust, National Association but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Wilmington Trust, National Association, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Wilmington Trust, National Association be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or the other Transaction Documents.
[Signature Pages Follow]

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

	 
	 

	 
	By: /s/ Cheryl A. Collins               

	 
	Name: Cheryl A. Collins

	 
	Title: Senior Vice President and Treasurer

[Signatures continue]

    

[Ditech Agency Advance Trust - Signature Page to Receivables Pooling Agreement]

	
		
	 
	DITECH AGENCY ADVANCE TRUST, as Issuer  

By: Wilmington Trust, National Association not in its individual capacity but solely as Owner Trustee

	 
	 

	 
	By: /s/ Dorri Costello                    

	 
	Name: Dorri Costello               

	 
	Title: Vice President                    

[Ditech Agency Advance Trust - Signature Page to Receivables Pooling Agreement]

Schedule 1

ASSIGNMENT OF RECEIVABLES
Dated as of __________ ___, 20___
This Assignment of Receivables (this “Assignment”) is a schedule to and is hereby incorporated by this reference into a Receivables Pooling Agreement (the “Agreement”), dated as of February 9, 2018, and effective as of February 12, 2018, by and between Ditech Agency Advance Depositor LLC, a Delaware limited liability company (the “Depositor”), and Ditech Agency Advance Trust, a statutory trust formed under the laws of the State of Delaware (the “Issuer”).  All capitalized terms used herein shall have the meanings set forth in, or referred to in, the Agreement.
By its signature to this Assignment, the Depositor hereby sells and/or contributes, assigns, transfers and conveys to the Issuer and its assignees, without recourse, but subject to the terms of the Agreement, all of the Depositor’s right, title and interest in, to and under its rights to reimbursement for Receivables arising under each Designated Servicing Agreement listed on Attachment A attached hereto, existing on the date of this Assignment and Receivables arising under each Designated Servicing Agreement listed on Attachment A, on or before the related Receivables Sale Termination Date, the other Transferred Assets related to such Receivables described in Section 2(a) of the Agreement, pursuant to the terms of the Agreement, and the Issuer hereby accepts such sale and/or contribution, assignment, transfer and conveyance and agrees to transfer to the Depositor the consideration set forth in the Agreement.  

[Signature page follows]

DITECH AGENCY ADVANCE DEPOSITOR LLC
By:                            
Name:                            
Title:                            

DITECH AGENCY ADVANCE TRUST

By: Wilmington Trust, National Association not in its individual capacity but solely as Owner Trustee 

Name:                            
Title:                            

[Ditech Agency Advance Trust - Signature Page to Schedule 1 to Receivables Pooling Agreement - Assignment of Receivables]

Attachment A to Schedule 1

DESIGNATED SERVICING AGREEMENTS AND DESIGNATED POOLS RELATED TO THE AGGREGATE RECEIVABLES

[To be inserted]

Attachment A to Schedule 1-1Exhibit

Exhibit 10.26.3

EXECUTION COPY

ACKNOWLEDGMENT AGREEMENT 
WITH RESPECT TO SERVICING ADVANCE RECEIVABLES

THIS ACKNOWLEDGMENT AGREEMENT WITH RESPECT TO SERVICING ADVANCE RECEIVABLES (this “Agreement”), made and entered into as of this 9th day of February, 2018, and effective as of February 12, 2018 (the “Effective Date”), by and among DITECH FINANCIAL LLC, a Delaware limited liability company with its principal offices at 1100 Virginia Drive, Suite 100A. Ft. Washington, PA 19034 (the “Servicer”), Ditech Agency Advance Depositor LLC, a Delaware limited liability company with its principal offices at 1100 Virginia Drive, Suite 100A. Ft. Washington, PA 19034 (the “Depositor”), Ditech Agency Advance Trust, a Delaware statutory trust, with its principal offices for purposes of the matters contemplated hereby at c/o Ditech Financial LLC, 1100 Virginia Drive, Suite 100A. Ft. Washington, PA 19034 (the “Issuer”), WELLS FARGO BANK, N.A., not in its individual capacity but solely as indenture trustee at the direction and on behalf of the Issuer, with its principal offices at 9062 Old Annapolis Road, Columbia, MD 21045‐1951, Attention:  Corporate Trust Services, Ditech Agency Advance Trust (in its capacity as Indenture Trustee under the Indenture described below and not in its individual capacity, the “Indenture Trustee”) Credit Suisse First Boston Mortgage Capital LLC, a limited liability company organized in the State of Delaware (“Credit Suisse”, in its capacity as Administrative Agent under the Indenture described below, the “Administrative Agent” and, together with the Servicer, the Depositor and the Issuer, the “Transaction Parties”) and FANNIE MAE, a corporation organized and existing under the laws of the United States of America, with an office at 3900 Wisconsin Avenue, N.W., Washington, DC 20016.
WITNESSETH
A.The Servicer, as seller, the Depositor, as purchaser, and Walter Investment Management Corp. have entered into a Receivables Sale Agreement, dated as of the date hereof and effective as of the Effective Date (as amended, restated, supplemented or otherwise modified from time to time, the “Receivables Sale Agreement”) and the Depositor, as seller, and the Issuer, as purchaser, have entered into a Receivables Pooling Agreement dated as of the date hereof and effective as of the Effective Date (as amended, restated, supplemented or otherwise modified from time to time, the “Receivables Pooling Agreement” and together with the Receivables Sale Agreement, the “Receivables Purchase Agreements”), whereby, from time to time, the Servicer shall sell and/or contribute to the Depositor and the Depositor shall sell and/or contribute to the Issuer all of the Servicer’s present and future rights, as expressly set forth in, and subject to the limitations of, the Fannie Mae Lender Contract (as hereinafter defined) to reimbursement for (i) Delinquency Advances and Servicing Advances (as each such term is defined in the Fannie Mae Servicing Guide, as such Guide is amended from time to time (the “Servicing Guide”) and (ii) advances made by the Servicer under the Servicing Guide (a) to repurchase a special servicing option delinquent MBS mortgage loan from an MBS pool or (b) to liquidate an REO property from an MBS pool, which property was acquired as a result of a foreclosure, preforeclosure or third‐party sale, deed‐in‐lieu, or assignment of a special servicing option mortgage loan formerly in such MBS pool ((a) and (b), collectively, the “Delinquent MBS Mortgage Repurchase Advances”) (the Delinquency Advances, the Servicing Advances and the Delinquent MBS Mortgage Repurchase Advances, collectively, the “Servicing Advance Receivables”), with respect to certain mortgage loans owned or held in whole or in part by Fannie Mae, serviced for Fannie Mae by the Servicer under the Fannie Mae Lender Contract and identified by Seller/Servicer Number and by MBS Pool Number on Exhibit A attached to and made a part of this Agreement, and to such additional mortgage loans made a part of this Agreement pursuant to Section 17 hereof.  The advances that constitute the Servicing Advance Receivables are sometimes commonly referred to collectively as “P&I Delinquency Advances”, “T&I Escrow Advances” and “Corporate Servicing Advances”.  

B.The Issuer, the Indenture Trustee and certain other parties have entered into an Indenture, dated as of February 9, 2018, and effective as of February 12, 2018 (as amended, restated, supplemented or otherwise modified from time to time, the “Indenture”), pursuant to which, among other things, the Issuer granted to the Indenture Trustee, on behalf of the Secured Parties, as defined in and as specified in the Indenture, a security interest in, among other things, the Servicing Advance Receivables (the “Security Interest”).
C.The Receivables Purchase Agreements, the Indenture, the related note purchase agreement, the related indenture supplements, the related trust agreement, the related administration agreement and the Notes issued pursuant to the Indenture and such indenture supplements and Pledge Agreement are collectively referred to in this Agreement as the “Transaction Documents”. Capitalized terms used herein without definition shall have the respective meanings attributed to them in the Receivables Purchase Agreements and the Indenture.
D.The Transaction Parties have requested that Fannie Mae consent, and Fannie Mae is willing to consent, subject to the terms, provisions, and conditions of this Agreement, to the Servicer’s sale/and or contribution of the Servicing Advance Receivables to the Depositor and the Depositor’s sale and/or contribution of the Servicing Advance Receivables to the Issuer, in each case, pursuant to the terms and provisions of the Receivables Purchase Agreements, and the Issuer’s grant of the Security Interest to the Indenture Trustee on behalf of the Secured Parties under the Indenture.
E.Fannie Mae has requested the Transaction Parties, and each of the Transaction Parties has agreed, to acknowledge and reaffirm the rights of Fannie Mae pursuant to the Fannie Mae Lender Contract, and to be bound by the terms, provisions, and conditions of this Agreement.
NOW THEREFORE, in accordance with the Fannie Mae Lender Contract, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Transaction Parties hereby acknowledge, and all parties hereto agree to, the following:
1.Recitals Incorporated; Consent to the Sale and/or Contribution of the Servicing Advance Receivables and Grant of Security Interest.  The foregoing recitals are incorporated as a part of this Agreement and are accepted and agreed to by all parties as though fully set forth in the body of this Agreement.
Fannie Mae hereby consents, subject to the terms, provisions and conditions of this Agreement, to (a) the Servicer’s sale and/or contribution of the Servicing Advance Receivables to the Depositor pursuant to the terms and provisions of the Receivables Sale Agreement, (b) the Depositor’s sale and/or contribution of the Servicing Advance Receivables to the Issuer, pursuant to the terms and provisions of the Receivables Pooling Agreement, and (c) the Issuer’s grant of the Security Interest to the Indenture Trustee on behalf of the Secured Parties under the Indenture (each, a “Transaction” and collectively, the “Transactions”).
Fannie Mae hereby acknowledges that its Consent (as hereinafter defined), subject to the terms, provisions and conditions of this Agreement, will remain effective until the earliest of (i) the payment in full of all outstanding Purchased Servicing Advance Receivables (as hereinafter defined) subject to reimbursement by Fannie Mae to the Servicer pursuant to the Fannie Mae Lender Contract and this Agreement, (ii) payment in full of all outstanding obligations under the Transaction Documents, including all amounts owed under the Notes issued pursuant to the Indenture and termination of the commitment to further fund such Servicing Advance Receivables under the Transaction Documents, and (iii) the provision by the Indenture Trustee, on behalf of the Secured Parties, of a notice to the other parties hereto to the effect that the transactions contemplated by the Transaction Documents have been terminated.  As used in this 

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Agreement, a “Purchased Servicing Advance Receivable” is a Servicing Advance Receivable with respect to which all of the following events have occurred pursuant to the Transaction Documents:  (i) the Servicer has sold and/or contributed the Servicing Advance Receivable to the Depositor; (ii) the Depositor has sold and/or contributed the Servicing Advance Receivable to the Issuer and (iii) the Issuer has granted a Security Interest in the Servicing Advance Receivable to the Indenture Trustee on behalf of the Secured Parties under the Indenture.
Fannie Mae’s reimbursement of any Purchased Servicing Advance Receivable prior to the liquidation of the related mortgage loan is subject to reconciliation by Fannie Mae or its designee.  The Servicer hereby agrees to reimburse Fannie Mae for the reasonable fees and out‐of‐pocket expenses of any accountant, auditor, or professional advisor retained by Fannie Mae to perform such reconciliation.
Notwithstanding anything herein to the contrary, (x) nothing in this Agreement (including, without limitation, Section 2 hereof) shall affect any of Fannie Mae’s rights or remedies with respect to the Collateral (as defined below), including the right of set-off against the Collateral as provided in the Pledge Agreement (as defined below), (y) the Indenture Trustee and the Administrative Agent have no rights in the Collateral and (z) the Security Interest does not extend to the Collateral.
2.    Waiver of Right of Set Off.  Notwithstanding anything to the contrary in the Fannie Mae Lender Contract or any other agreement between the Servicer and Fannie Mae, Fannie Mae agrees that Fannie Mae will not set off or net any claims it might have against the Servicer, or payments due from the Servicer, from reimbursements Fannie Mae owes to the Servicer pursuant to the Fannie Mae Lender Contract on account of the Purchased Servicing Advance Receivables.
3.    Subordination of Sale and/or Contribution of Servicing Advance Receivables and  Security Interest.  Subject to Section 2, each of the Transaction Parties acknowledges that the sale and/or contribution of the Servicing Advance Receivables and the grant of the Security Interest as they are described in this Agreement and the Transaction Documents are subject to and subordinate in all respects to all rights, powers, and prerogatives of Fannie Mae under and in connection with:  (i) this Agreement, and (ii) the Mortgage Selling and Servicing Contract, the Fannie Mae Selling Guide, as such Guide is amended from time to time (the “Selling Guide”), the Servicing Guide and any supplemental servicing instructions or directives provided by Fannie Mae, all applicable master agreements (including applicable MBS pool purchase contracts and variances), recourse agreements, repurchase agreements, indemnification agreements, loss‐sharing agreements, and any other agreements between Fannie Mae and the Servicer, and all as amended, modified, restated or supplemented from time to time (collectively, the “Fannie Mae Lender Contract”), which rights, powers, and prerogatives include, without limitation, the right of Fannie Mae to terminate the Fannie Mae Lender Contract with or without cause.
Each of the Indenture Trustee, the Depositor, the Issuer and Administrative Agent also acknowledges that it has no claim or entitlement as a secured creditor against Fannie Mae, and Fannie Mae has no duty or obligation to the Indenture Trustee, the Depositor, the Issuer and Administrative Agent, except as otherwise expressly provided in this Agreement.  In the event of any conflict or inconsistency between the terms and provisions of this Agreement and those of the Transaction Documents, the terms and provisions of this Agreement shall prevail.

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4.    Financing Statements.  In recognition of the foregoing, each of the Servicer, the Depositor and the Issuer agrees to insert the following language in any financing statement filed in connection with the Transaction Documents:
The sale and/or contribution of the Servicing Advance Receivables and the Security Interest described in this financing statement are subject and subordinate to all rights, powers, and prerogatives of Fannie Mae under and in connection with (i) the terms and conditions of that certain Acknowledgment Agreement With Respect to Servicing Advance Receivables, by and among Fannie Mae, Ditech Financial LLC (the “Debtor”), Ditech Agency Advance Depositor LLC (the “Depositor”), Ditech Agency Advance Trust (the “Trust”), Wells Fargo Bank, N.A. (the “Indenture Trustee”) and Credit Suisse First Boston Mortgage Capital LLC (the “Administrative Agent”), and (ii) the Mortgage Selling and Servicing Contract, the Fannie Mae Selling Guide, the Fannie Mae Servicing Guide and any supplemental servicing instructions or directives provided by Fannie Mae, all applicable master agreements (including applicable MBS pool purchase contracts and variances), recourse agreements, repurchase agreements, indemnification agreements, loss‐sharing agreements, and any other agreements between Fannie Mae and the Debtor, and all as amended, modified, restated or supplemented from time to time (collectively, the “Fannie Mae Lender Contract”), which rights, powers, and prerogatives include, without limitation, the right of Fannie Mae to terminate the Fannie Mae Lender Contract with or without cause.
5.    Payment to the Servicer.  During the term of this Agreement, all payments, if any, made by Fannie Mae relating to the Servicing Advance Receivables will be paid directly to the deposit account designated by the Servicer.  The Servicer agrees that it shall designate the deposit account described in Exhibit B hereto (the “Deposit Account”) as the account to which Fannie Mae should wire all payments, if any, made by Fannie Mae relating to the Servicing Advance Receivables.  Fannie Mae may also make payments due to the Servicer, which payments do not relate to Servicing Advance Receivables, through the Deposit Account.  Each Transaction Party will be deemed, by virtue of its execution of this Agreement, to have specifically and irrevocably consented to any such payment to the Deposit Account, and Fannie Mae shall have no further obligation or responsibility to confirm with any Transaction Party any such payment or where or how the funds are distributed after they are deposited in the Deposit Account.
6.    Fannie Mae’s Right to Withdraw Its Consent.
(a)    Events Enabling Fannie Mae to Withdraw Consent.  Fannie Mae shall have the right to withdraw its consent to the Transactions and its waiver of its right of set off (collectively, Fannie Mae’s “Consent”):
(i)    if Fannie Mae exercises its right to suspend or terminate the Servicer’s eligibility to service mortgage loans for Fannie Mae (each, a “Servicer Suspension/Termination Event”);
(ii)    if the Servicer voluntarily resigns as a Fannie Mae servicer (a “Servicer Resignation Event”);
(iii)    if the Servicer transfers the servicing of some, but not all, of the mortgage loans that the Servicer is servicing for Fannie Mae under the Fannie Mae Lender Contract using the 

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Fannie Mae Seller/Servicer Numbers specified on Exhibit A (a “Partial Transfer of Servicing Event”) but such withdrawal of Consent shall apply only to the mortgage loans that are subject to the transfer;
(iv)    on each yearly anniversary of the date of this Agreement (each, an “Anniversary Event”);
(v)    if a Financial Trigger Event (as hereinafter defined) occurs; or
(vi)    if the Servicer fails to maintain Collateral at the Required Collateral Level or to Transfer Eligible Collateral to the Custodian in the amounts and within the time frames specified in the Pledge and Security Agreement (the “Pledge Agreement”), dated December 19, 2014, between the Servicer, as grantor, and Fannie Mae, as secured party, as amended, modified, or supplemented from time to time (each, a “Collateral Termination Event”).   The terms “Collateral”, “Required Collateral Level”, “Transfer”, “Eligible Collateral”, and “Custodian” have the meanings given to them in the Pledge Agreement.
(b)    Actions Fannie Mae May Take Upon the Occurrence of a Servicer Suspension/Termination Event and Related Matters.
(i)    Fannie Mae may, at its option, exercise its right to withdraw its Consent upon the occurrence of a Servicer Suspension/Termination Event by giving written notice to the Servicer, the Depositor, the Issuer, the Indenture Trustee and the Administrative Agent of the occurrence of such Servicer Suspension/Termination Event in accordance with Section 8 of this Agreement.
(ii)    If Fannie Mae exercises its option to withdraw its Consent upon the occurrence of a Servicer Suspension/Termination Event:
(A)    Such withdrawal of Fannie Mae’s Consent shall apply to any Servicing Advance Receivable with respect to which the Servicer has made or will make a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance after the effective date of such Servicer Suspension/Termination Event; provided, that the Security Interest shall remain in full force and effect and Fannie Mae shall continue to be obligated to reimburse the Servicer pursuant to the Fannie Mae Lender Contract and this Agreement on account of any Purchased Servicing Advance Receivables as to which the Servicer has made or will make a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance in accordance with the Fannie Mae Lender Contract on or before the effective date of such Servicer Suspension/Termination Event.
(B)    After the effective date of such Servicer Suspension/Termination Event, the Servicer shall not sell and/or contribute to the Depositor any Servicing Advance Receivables with respect to which the Servicer has made or will make a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance (the “Subsequent Servicing Advance Receivables”), the Depositor shall not sell and/or contribute any such Subsequent Servicing Advance Receivables to the Issuer and the Issuer shall not grant a Security Interest with respect to such Subsequent Servicing Advance Receivables to the Indenture Trustee on behalf of the Secured Parties under the Indenture.

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(C)    Except with respect to the reimbursements by Fannie Mae to the Servicer described in Section 6(b)(ii)(A), above, related to any Purchased Servicing Advance Receivables as to which the Servicer has made a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance in accordance with the Fannie Mae Lender Contract on or before the effective date of such Servicer Suspension/Termination Event, after the effective date of such Servicer Suspension/Termination Event and the applicable Final Payment Date (defined below), Fannie Mae’s agreement in Section 2 to not set off or net any claims it might have against the Servicer, or payments due from the Servicer, from reimbursements Fannie Mae owes to the Servicer pursuant to the Fannie Mae Lender Contract on account of Purchased Servicing Advance Receivables with respect to which the Servicer has made or will make a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance after the effective date of such Servicer Suspension/Termination Event in accordance with the Fannie Mae Lender Contract shall become null and void and of no further force and effect.
The “Final Payment Date” is the date on which Fannie Mae makes its final payment into the Deposit Account for the Purchased Servicing Advance Receivables as to which Fannie Mae is obligated to reimburse the Servicer pursuant to the Fannie Mae Lender Contract and this Agreement.
(iii)    If a Servicer Suspension/Termination Event occurs and pursuant to this Section 6(b) Fannie Mae exercises its right to withdraw its Consent, it is expected that the Servicer will continue to process Loan Activity Reports (as defined in the Servicing Guide) and/or requests for expense reimbursement relating to Purchased Servicing Advance Receivables in accordance with the Servicing Guide, or that the Indenture Trustee (or its designee, which may be the Administrative Agent, as defined in the Indenture) will attempt to arrange with any third‐party successor servicer to process such Loan Activity Reports and/or requests for expense reimbursement relating to Purchased Servicing Advance Receivables made before the Servicer Suspension/Termination Event.  Fannie Mae will permit the Servicer or the Indenture Trustee (or its designee), as applicable, to submit to Fannie Mae Loan Activity Reports and/or requests for expense reimbursement relating to any Purchased Servicing Advance Receivables as to which the Servicer has made a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance in accordance with the Fannie Mae Lender Contract on or before the effective date of such Servicer Suspension/Termination Event.
Fannie Mae shall cease making payments to the Deposit Account following a Servicer Suspension/Termination Event described in this Section.  In order to have Fannie Mae process claims for reimbursement following the Servicer Suspension/Termination Event, the Indenture Trustee (or its designee, which may be the Administrative Agent) shall provide to Fannie Mae (A) a summary report detailing the outstanding advance balances by Fannie Mae loan number, broken out by P&I Delinquency Advances, T&I Escrow Advances and Corporate Servicing Advances (as such terms are described in Recital A of this Agreement) and (B) wiring instructions identifying where Fannie Mae is to make payments related to Purchased Servicing Advance Receivables following the Servicer Suspension/Termination Event (the “New Wire Instructions”).  The information described in the preceding sentence shall be sent to Fannie Mae at the notice addresses identified in Section 8, with copies to (x) Customer Account Risk Management at tracy_l_glascoe@fanniemae.com and (y) Special Assets Advance Solution at advance facilities data@fanniemae.com.  Following Fannie Mae’s receipt of the information described in the second sentence of this paragraph and its reconciliation of the information contained in the summary report and processing of the New Wire 

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Instructions, Fannie Mae shall make payments related to Purchased Servicing Advance Receivables pursuant to the New Wire Instructions.  The Servicer acknowledges and agrees that, following the occurrence of a Servicer Suspension/Termination Event and Fannie Mae’s receipt of the New Wire Instructions, Fannie Mae shall be authorized to, and shall, make payments related to Purchased Servicing Advance Receivables pursuant to the New Wire Instructions.
The Indenture Trustee (or its designee) will use its reasonable efforts to submit Loan Activity Reports and/or requests for expense reimbursement pursuant to this Section 6(b)(iii) in accordance with the requirements of the Servicing Guide.  If, despite its diligence, the Indenture Trustee (or its designee) is unable to obtain and submit the required supporting detail to Fannie Mae within 90 days following the Servicer Suspension/Termination Event, then upon the written request of the Indenture Trustee (or its designee), accompanied by an explanation in reasonable detail of the difficulties the Indenture Trustee (or its designee) is encountering, Fannie Mae will discuss with the Indenture Trustee (or its designee) and reasonably consider possible resolutions of such difficulties.  The Indenture Trustee (or its designee) and Fannie Mae will work together to arrive at a plan for the submission of supporting detail and reimbursement of the Purchased Servicing Advance Receivables that is reasonably acceptable to Fannie Mae, as quickly as reasonably practicable.
It is understood that in the absence of a mutually acceptable plan arrived at as quickly as reasonably practicable, the requirements of the Servicing Guide shall continue to govern the submission and reimbursement of the Purchased Servicing Advance Receivables.
If an Insolvency Event (defined below) with respect to the Servicer occurs following the occurrence of a Servicer Suspension/Termination Event, Fannie Mae’s obligations to pay such reimbursements shall be subject to the requirements of the bankruptcy or other court having jurisdiction over the insolvency proceeding.
For the purpose of this Section 6(b) and Section 6(c) of this Agreement, an “Insolvency Event” shall have the same meaning as set forth in the Indenture in effect as of the day of this Agreement and not as such definition may be amended, restated, supplemented, or otherwise modified from time to time without, in each such case, Fannie Mae’s prior written consent.
(iv)    Fannie Mae shall have no obligation to the Indenture Trustee or any of the other Transaction Parties relating to any successor servicer’s payment or remittance of the Purchased Servicing Advance Receivables made after the effective date of such Servicer Suspension/Termination Event to the Indenture Trustee or such other Transaction Parties.
(c)    Actions Fannie Mae May Take Upon the Occurrence of a Servicer Resignation Event or a Partial Transfer of Servicing Event and Related Matters.
(i)    Fannie Mae may, at its option, exercise its right to withdraw its Consent upon the occurrence of a Servicer Resignation Event or a Partial Transfer of Servicing Event (in which case, the Consent shall be withdrawn solely with respect to the mortgage loans subject to the partial transfer) by giving written notice to Servicer, the Depositor, the Issuer, the Indenture Trustee and the Administrative Agent in accordance with Section 8 of this Agreement.
(ii)    If Fannie Mae exercises its option to withdraw its Consent:
(A)    Such withdrawal of Fannie Mae’s Consent shall apply to any Servicing Advance Receivable with respect to which the Servicer has made or will make a 

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Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance after the effective date of the Servicer Resignation Event or the Partial Transfer of Servicing Event, as applicable; provided, the Security Interest shall remain in full force and effect and Fannie Mae shall continue to be obligated to reimburse the Servicer pursuant to the Fannie Mae Lender Contract and this Agreement on account of any Purchased Servicing Advance Receivables as to which the Servicer has made or will make a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance in accordance with the Fannie Mae Lender Contract on or before the effective date of the Servicer Resignation Event or the Partial Transfer of Servicing Event, as applicable.
(B)    After the effective date of such Servicer Resignation Event or Partial Transfer of Servicing Event, as applicable, the Servicer shall not sell and/or contribute to the Depositor any Subsequent Servicing Advance Receivables with respect to which the Servicer has made or will make a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance, the Depositor shall not sell and/or contribute any such Subsequent Servicing Advance Receivables to the Issuer and the Issuer shall not grant a Security Interest with respect to such Subsequent Servicing Advance Receivables to the Indenture Trustee on behalf of the Secured Parties under the Indenture.
(C)    Except with respect to the reimbursements by Fannie Mae to the Servicer described in Section 6(c)(ii)(A), above, related to any Purchased Servicing Advance Receivables as to which the Servicer has made a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance in accordance with the Fannie Mae Lender Contract on or before the effective date of such Servicer Resignation Event or Partial Transfer of Servicing Event, as applicable, and the applicable Final Payment Date, Fannie Mae’s agreement in Section 2 to not set off or net any claims it might have against the Servicer, or payments due from the Servicer, from reimbursements Fannie Mae owes to the Servicer pursuant to the Fannie Mae Lender Contract on account of Purchased Servicing Advance Receivables with respect to which the Servicer has made or will make a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance after the effective date of such Servicer Resignation Event or Partial Transfer of Servicing Event in accordance with the Fannie Mae Lender Contract shall become null and void and of no further force and effect.
(iii)    Fannie Mae shall have no obligation to the Indenture Trustee or any of the other Transaction Parties relating to any successor servicer’s payment or remittance of the Purchased Servicing Advance Receivables made after the effective date of such Servicer Resignation Event or Partial Transfer of Servicing Event to the Indenture Trustee or such other Transaction Parties.
(iv)    If a Servicer Resignation Event occurs and pursuant to this Section 6(c) Fannie Mae exercises its right to withdraw its Consent, it is expected that the Servicer will continue to process Loan Activity Reports (as defined in the Servicing Guide) and/or requests for expense reimbursement relating to Purchased Servicing Advance Receivables in accordance with the Servicing Guide, or that the Indenture Trustee (or its designee, which may be the Administrative Agent, as defined in the Indenture) will attempt to arrange with any third‐party successor servicer to process such Loan Activity Reports and/or requests for expense reimbursement relating to Purchased Servicing Advance Receivables made before the Servicer Resignation Event.  Fannie Mae will permit the Servicer or the Indenture Trustee (or its designee), as applicable, to submit to Fannie Mae Loan Activity Reports and/or requests for expense reimbursement relating to any 

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Purchased Servicing Advance Receivables as to which the Servicer has made a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance in accordance with the Fannie Mae Lender Contract on or before the effective date of such Servicer Resignation Event.
Fannie Mae shall cease making payments to the Deposit Account following a Servicer Resignation Event described in this Section.  In order to have Fannie Mae process claims for reimbursement following the Servicer Resignation Event, the Indenture Trustee (or its designee, which may be the Administrative Agent) shall provide to Fannie Mae (A) a summary report detailing the outstanding advance balances by Fannie Mae loan number, broken out by P&I Delinquency Advances, T&I Escrow Advances and Corporate Servicing Advances (as such terms are described in Recital A of this Agreement) and (B) wiring instructions identifying where Fannie Mae is to make payments related to Purchased Servicing Advance Receivables following the Servicer Resignation Event (the “New Wire Instructions”).  The information described in the preceding sentence shall be sent to Fannie Mae at the notice addresses identified in Section 8, with copies to (x) Customer Account Risk Management at tracy_l_glascoe@fanniemae.com and (y) Special Assets Advance Solution at advance facilities data@fanniemae.com.  Following Fannie Mae’s receipt of the information described in the second sentence of this paragraph and its reconciliation of the information contained in the summary report and processing of the New Wire Instructions, Fannie Mae shall make payments related to Purchased Servicing Advance Receivables pursuant to the New Wire Instructions.  The Servicer acknowledges and agrees that, following the occurrence of a Servicer Resignation Event and Fannie Mae’s receipt of the New Wire Instructions, Fannie Mae shall be authorized to, and shall, make payments related to Purchased Servicing Advance Receivables pursuant to the New Wire Instructions.
The Indenture Trustee (or its designee) will work diligently to submit Loan Activity Reports and/or requests for expense reimbursement pursuant to this Section 6(c)(iv) in accordance with the requirements of the Servicing Guide.  If, despite its diligence, the Indenture Trustee (or its designee) is unable to obtain and submit the required supporting detail to Fannie Mae within 90 days following the Servicer Resignation Event, then upon the written request of the Indenture Trustee (or its designee), accompanied by an explanation in reasonable detail of the difficulties the Indenture Trustee (or its designee) is encountering, Fannie Mae will discuss with the Indenture Trustee (or its designee) and reasonably consider possible resolutions of such difficulties.  The Indenture Trustee (or its designee) and Fannie Mae will work together to arrive at a plan for the submission of supporting detail and reimbursement of the Purchased Servicing Advance Receivables that is reasonably acceptable to Fannie Mae, as quickly as reasonably practicable.
It is understood that in the absence of a mutually acceptable plan arrived at as quickly as reasonably practicable, the requirements of the Servicing Guide shall continue to govern the submission and reimbursement of the Purchased Servicing Advance Receivables.
If an Insolvency Event with respect to the Servicer occurs following the occurrence of a Servicer Resignation Event, Fannie Mae’s obligations to pay such reimbursements shall be subject to the requirements of the bankruptcy or other court having jurisdiction over the insolvency proceeding.
(v)    In the case of a Partial Transfer of Servicing Event, such Consent shall not be withdrawn, the Security Interest shall remain in full force and effect, and Fannie Mae shall continue to be obligated to reimburse the Servicer pursuant to the Fannie Mae Lender Contract and this Agreement on account of Purchased Servicing Advance Receivables with respect to mortgage loans as to which servicing rights have not been transferred.

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(d)    Actions Fannie Mae May Take Upon the Occurrence of an Anniversary Event and Related Matters.
(i)    Fannie Mae may, at its option, exercise its right to withdraw its Consent upon the occurrence of an Anniversary Event by giving written notice to the Servicer, the Depositor, the Issuer, the Indenture Trustee and the Administrative Agent in accordance with Section 8 of this Agreement on or before the thirtieth day before an Anniversary Event occurs.
(ii)    If Fannie Mae exercises its option to withdraw its Consent:
(A)    Such withdrawal of Fannie Mae’s Consent shall apply to any Servicing Advance Receivable with respect to which the Servicer has made or will make a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance after the Anniversary Event Cut Off Date (defined below); provided that the Security Interest shall remain in full force and effect and Fannie Mae shall continue to be obligated to reimburse the Servicer pursuant to the Fannie Mae Lender Contract and this Agreement on account of any Purchased Servicing Advance Receivable as to which the Servicer has made or will make a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance in accordance with the Fannie Mae Lender Contract on or before the last day of the third calendar month following the calendar month in which the applicable anniversary date occurs (the “Anniversary Event Cut Off Date”).
(B)    After the Anniversary Event Cut Off Date, the Servicer shall not sell and/or contribute to the Depositor any Subsequent Servicing Advance Receivables with respect to which the Servicer has made or will make a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance, the Depositor shall not sell and/or contribute any such Subsequent Servicing Advance Receivables to the Issuer and the Issuer shall not grant a Security Interest with respect to such Subsequent Servicing Advance Receivables to the Indenture Trustee on behalf of the Secured Parties under the Indenture.
(C)    Except with respect to the reimbursements by Fannie Mae to the Servicer described in Section 6(d)(ii)(A), above, related to any Purchased Servicing Advance Receivables as to which the Servicer has made a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance in accordance with the Fannie Mae Lender Contract on or before the Anniversary Event Cut Off Date, after the Anniversary Event Cut Off Date and the applicable Final Payment Date, Fannie Mae’s agreement in Section 2 to not set off or net any claims it might have against the Servicer, or payments due from the Servicer, from reimbursements Fannie Mae owes to the Servicer pursuant to the Fannie Mae Lender Contract on account of Purchased Servicing Advance Receivables with respect to which the Servicer has made or will make a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance after the Anniversary Event Cut Off Date in accordance with the Fannie Mae Lender Contract shall become null and void and of no further force and effect.
(e)    Actions Fannie Mae May Take Upon the Occurrence of a Financial Trigger Event or a Collateral Termination Event and Related Matters.
(i)    Fannie Mae may, at its option, exercise its right to withdraw its Consent upon the occurrence of a Financial Trigger Event or a Collateral Termination Event (each, a 

10

“Termination Event”) by giving written notice to the Servicer, the Depositor, the Issuer, the Indenture Trustee and the Administrative Agent in accordance with Section 8 of this Agreement.
(ii)    If Fannie Mae exercises its option to withdraw its Consent:
(A)    Such withdrawal of Fannie Mae’s Consent shall apply to any Servicing Advance Receivable with respect to which the Servicer has made or will make a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance after the Termination Event Cut Off Date (defined below); provided that the Security Interest shall remain in full force and effect and Fannie Mae shall continue to be obligated to reimburse the Servicer pursuant to the Fannie Mae Lender Contract and this Agreement on account of any Purchased Servicing Advance Receivables as to which the Servicer has made or will make a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance in accordance with the Fannie Mae Lender Contract on or before the effective date of the Termination Event (the “Termination Event Cut Off Date”).
(B)    After the Termination Event Cut Off Date, the Servicer shall not sell and/or contribute to the Depositor any Servicing Advance Receivables with respect to which the Servicer has made or will make a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance, the Depositor shall not sell and/or contribute any such Servicing Advance Receivables to the Issuer and the Issuer shall not grant a Security Interest with respect to such Servicing Advance Receivables to the Indenture Trustee on behalf of the Secured Parties under the Indenture.
(C)    Except with respect to the reimbursements by Fannie Mae to the Servicer described in Section 6(e)(ii)(A), above, related to any Purchased Servicing Advance Receivables as to which the Servicer has made a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance in accordance with the Fannie Mae Lender Contract on or before the Termination Event Cut Off Date, after the Termination Event Cut Off Date and the applicable Final Payment Date, Fannie Mae’s agreement in Section 2 to not set off or net any claims it might have against the Servicer, or payments due from the Servicer, from reimbursements Fannie Mae owes to the Servicer pursuant to the Fannie Mae Lender Contract on account of Purchased Servicing Advance Receivables with respect to which the Servicer has made or will make a Delinquent MBS Mortgage Repurchase Advance, a Delinquency Advance or a Servicing Advance after the Termination Event Cut Off Date in accordance with the Fannie Mae Lender Contract shall become null and void and of no further force and effect.
(iii)    The occurrence of any of the following shall constitute a “Financial Trigger Event”:
(A)    the Servicer fails to maintain a Lender Adjusted Net Worth/Total Assets ratio (as defined in the Selling Guide) of at least 10%;
(B)    the Servicer fails to meet all of Fannie Mae’s requirements relating to a lender’s minimum net worth, a decline in Lender’s Adjusted Net Worth, minimum capital, liquidity, profitability, cross default, repurchase limitation, financial statements and reports, and required servicer rating described in Subpart A4‐2‐01 of the Selling Guide, as 

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amended from time to time, including the requirement that a lender has a financial condition satisfactory to Fannie Mae; or
(C)    a Material Adverse Change occurs with respect to the Servicer.  A “Material Adverse Change” means the occurrence of an event that would cause a material and adverse change in the financial condition, business, or operation of the Servicer and its parent or subsidiaries, taken as a whole, as a result of any event that disproportionately impacts the Servicer and its parent or subsidiaries relative to similarly‐sized mortgage companies.
(f)    Anniversary Event Winding Up Period.  If, during an Anniversary Event Winding Up Period (as hereinafter defined), a Termination Event occurs, Fannie Mae shall have the option to exercise its rights and remedies under this Agreement with respect to the occurrence of either the Termination Event or the Anniversary Event by giving written notice to the Servicer, the Depositor, the Issuer, the Indenture Trustee and the Administrative Agent in accordance with Section 8 of this Agreement.  The “Anniversary Event Winding Up Period” is the period commencing on the day Fannie Mae gives written notice of the occurrence of an Anniversary Event pursuant to Section 6(d)(i), of this Agreement and ending on the Anniversary Event Cut Off Date.
If Fannie Mae elects to exercise its rights and remedies under this Agreement with respect to the occurrence of the Termination Event, Section 6(e) of this Agreement shall apply with the same force and effect as if the Anniversary Event had not occurred.  If Fannie Mae elects to continue to exercise its rights and remedies under this Agreement with respect to the occurrence of the Anniversary Event, Section 6(d) of this Agreement shall continue to apply with the same force and effect as if the Termination Event had not occurred.
7.    Event of Default.  The Issuer hereby instructs the Indenture Trustee to, and the Indenture Trustee hereby accepts such instruction and agrees that it shall, upon receipt of written notice of an Event of Default under the Indenture or any other Transaction Document, immediately provide Fannie Mae with notice of the occurrence of such Event of Default.    
8.    Notices.  Any notice or other communication to Fannie Mae pursuant to this Agreement shall be in writing and delivered by hand, electronic mail (with confirmation), overnight express or similar service (fees prepaid), or first‐class United States registered or certified mail with return receipt requested (postage prepaid), to Fannie Mae at the address (which may be changed by written notice) shown below.  The Transaction Parties request that any communication from Fannie Mae to any Transaction Party, as applicable, be given in the same manner, and under the same procedures, as provided above, with the Transaction Parties’ addresses for such purpose, and related information, being as shown below.
		
	FANNIE MAE:
	Fannie Mae 
3900 Wisconsin Avenue, N.W. 
Washington, D.C.  20016 
Attention:  SVP and Chief Credit Officer for Single-Family 
Email:  carlos_t_perez@fanniemae.com

		
	With a copy to:
	Fannie Mae 
3900 Wisconsin Avenue, N.W. 
Washington, D.C.  20016 
Attention:  Mark Bickert, Vice President 
Email:  mark_s_bicker@fanniemae.com

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	SERVICER:
	Ditech Financial LLC 
1100 Virginia Drive, Suite 100A, 

Ft. Washington, PA 19034 
Attention:  Cheryl Collins, SVP & Treasurer 
Telephone:  651‐293‐3410 
Email:  cheryl.collins@gtservicing.com

		
	With a copy to:
	Ditech Financial LLC 
1100 Virginia Drive, Suite 100A, 

Ft. Washington, PA 19034 
Attention:  General Counsel
		
	DEPOSITOR:
	Ditech Agency Advance Depositor LLC 
1100 Virginia Drive, Suite 100A, 

Ft. Washington, PA 19034 
Attention:  Cheryl Collins, SVP & Treasurer 
Telephone:  651‐293‐3410 
Email:  cheryl.collins@gtservicing.com
		
	ISSUER:
	Ditech Agency Advance Trust 
c/o Wilmington Trust, National Association, as Owner Trustee 
Rodney Square North, 1100 North Market Street 
Wilmington, DE  19890

		
	With a copy to:
	Ditech Financial LLC 
1100 Virginia Drive, Suite 100A, 

Ft. Washington, PA 19034 
Telephone:  651‐293‐3410 
Email:  cheryl.collins@gtservicing.com
Ditech Financial LLC 
1100 Virginia Drive, Suite 100A, 
Ft. Washington, PA 19034 
Attention:  General Counsel
		
	INDENTURE TRUSTEE:
	Wells Fargo Bank, N.A. 
9062 Old Annapolis Road 
Columbia, MD  21045‐1951 
Attention:  Corporate Trust Services, Ditech Agency Advance Trust 
Telephone:  (410) 884‐2000 
Email:  TrustAdministrationGroup@wellsfargo.com

		
	ADMINISTRATIVE AGENT:
	Credit Suisse First Boston Mortgage Capital LLC 
c/o Credit Suisse Securities (USA) LLC 
One Madison Avenue, 9th Floor, 

New York, NY  10010 

13

9.    Reliance.  Fannie Mae shall be fully protected in acting or relying upon, and shall have no duty or obligation to verify the truth, accuracy, authenticity, validity, or legal sufficiency of any written notice, direction, request, waiver, consent, receipt, or other paper or document which Fannie Mae in good faith believes to be genuine and to have been signed or presented by the respective Transaction Party pursuant to its rights under the Transaction Documents and this Agreement.
10.    Indemnification by the Secured Parties.  
(a)    The Administrative Agent shall indemnify and hold harmless Fannie Mae against all losses, claims, actions, liabilities, damages, judgments, costs, and expenses (including attorneys’ fees and expenses) (collectively, “Losses”) arising or resulting from: (i) any present or future act or omission of Fannie Mae taken or not taken on behalf of such Transaction Party in compliance with this Agreement, (ii) any past, present, or future act, error, breach or omission of such Transaction Party with regards to this Agreement or the Transaction Documents, or (iii) any dispute regarding the payment of any Servicing Advance Receivables.
 
(b)    Notwithstanding Section 10(a), the Administrative Agent is not responsible for any Losses: (i) of the Servicer to Fannie Mae under the Fannie Mae Lender Contract except to the extent such Transaction Party assumes the Secured Obligations or (ii) arising from the gross negligence or willful misconduct of Fannie Mae.

11.    Indemnification by the Servicer.  The Servicer shall indemnify and hold harmless Fannie Mae against any and all losses, claims, lawsuits, actions, liabilities, damages, judgments, costs, and expenses arising or resulting from:  (i) any present or future act or omission of Fannie Mae with respect to the Servicer, the Depositor or the Issuer in compliance with this Agreement or (ii) any past, present, or future act, error, breach or omission of the Servicer, the Indenture Trustee or any other Transaction Party pursuant or with respect to this Agreement or the Transaction Documents.  Notwithstanding the foregoing, the Servicer is not responsible for, and is not indemnifying and holding Fannie Mae harmless against any liability, obligation, duty or responsibility of any kind whatsoever arising from the gross negligence or willful misconduct of Fannie Mae with respect to this Agreement.
12.    Representations and Warranties of the Servicer.  The Servicer hereby warrants, represents, and confirms to Fannie Mae the following:
(a)    The Security Interest is the only outstanding and existing interest that the Servicer has granted or caused to be granted to the Indenture Trustee, or any other party, in the Servicing Advance Receivables; and the Transaction Documents are the sole outstanding and existing agreements or instruments containing any grant by the Servicer of any interest in the Servicing Advance Receivables.
(b)    The execution and delivery of this Agreement will not violate any provision of law or regulation applicable to the Servicer, any order of any court or other agency of government or any agreement or other instrument to which the Servicer is bound, or be in conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under any such agreement or other instrument.
(c)    The Servicer has duly executed and delivered the Transaction Documents to which it is a party and this Agreement.  The grant of a Security Interest in the Servicing Advance 

14

Receivables to the Indenture Trustee, pursuant to the Transaction Documents, and the Servicer’s execution (and the delivery) of the Transaction Documents to which it is a party and this Agreement, has each been duly authorized and:  (i) specifically approved by the board of directors or the equivalent thereof (the “Board of Directors”) of the Servicer, and such approval is reflected in the minutes of the meetings of such Board of Directors or pursuant to an appropriate consent or other instrument evidencing approval by the Board of Directors or (ii) approved by an officer of the Servicer who was duly authorized by the Board of Directors to enter into such types of transactions and such authorization is reflected in the minutes of the Board of Directors’ meetings.  This Agreement, together with the Transaction Documents and any amendments thereto made in accordance with Section 14 of this Agreement, and any UCC financing statements, constitute the written agreement (the “Written Agreement”) governing the Servicer’s grant of a Security Interest in the Servicing Advance Receivables to the Indenture Trustee, pursuant to the Transaction Documents and the matters agreed to in this Agreement, and the Servicer shall continuously maintain all components of the Written Agreement as an official record of the Servicer (or any successor thereto).
(d)    The Servicer has taken any and all action necessary to ensure the accuracy of the representations and warranties contained in this Section 12.
13.    Representations and Warranties of the Indenture Trustee.  The Indenture Trustee hereby warrants, represents, and confirms to Fannie Mae the following:
(a)    The execution and delivery of this Agreement will not violate any provision of law or regulation applicable to the Indenture Trustee, any order of any court or other agency of government or any agreement or other instrument to which the Indenture Trustee is bound, or be in conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under any such agreement or other instrument, provided, that the representations contained in this Section 13(a) are made for the sole purpose of preventing the Indenture Trustee from raising any such violation, breach, conflict, or default as a defense to the enforceability of this Agreement.
(b)    Wells Fargo Bank, N.A., not in its individual capacity but solely as Indenture Trustee, has, at the direction and instruction of the Issuer, duly executed and delivered the Transaction Documents and this Agreement.  The Indenture Trustee is duly organized, validly existing and in good standing as a national banking association under the laws of the United States with power and authority to conduct its business as such business is currently conducted.  The Indenture Trustee has the power and authority to execute and deliver this Agreement and to carry out its terms; and the execution, delivery and performance of this Agreement have been duly authorized by the Indenture Trustee by all necessary corporate action.
14.    Representations and Warranties of Credit Suisse.  Credit Suisse hereby warrants, represents, and confirms to Fannie Mae the following:
(a)    The execution and delivery of this Agreement will not violate any provision of law or regulation applicable to Credit Suisse, in its capacity as Administrative Agent, any order of any court or other agency of government or any agreement or other instrument to which Credit Suisse, in its capacity as Administrative Agent, is bound, or be in conflict with, result in a breach 

15

of, or constitute (with due notice or lapse of time or both) a default under any such agreement or other instrument, provided, that the representations contained in this Section 14(a) are made for the sole purpose of preventing the Credit Suisse, in its capacity as Administrative Agent, from raising any such violation, breach, conflict, or default as a defense to the enforceability of this Agreement.
(b)    Credit Suisse, in its capacity as Administrative Agent, has duly executed and delivered the Transaction Documents and this Agreement.  Credit Suisse is duly organized, validly existing and in good standing as a limited liability company under the laws of the State of Delaware with power and authority to conduct its business as such business is currently conducted.  Credit Suisse, in its capacity as Administrative Agent, has the power and authority to execute and deliver this Agreement and to carry out its terms; and the execution, delivery and performance of this Agreement have been duly authorized by Credit Suisse, in its capacity as Administrative Agent, by all necessary limited liability company action.
15.    Amendments.  The Transaction Documents may be amended without the consent of Fannie Mae in accordance with the terms and conditions of the Transaction Documents, provided that the Indenture Trustee and the Servicer each hereby agree that each of the representations and warranties contained in Sections 12(b), 12(c), 13(a), 13(b), 14(a) and 14(b) of this Agreement shall be applicable to any such amendment.  Notwithstanding the foregoing, without the prior written consent of Fannie Mae, the Transaction Parties shall not make any amendment to the Transaction Documents which:
(a)    materially and adversely affects the Servicer’s ability to service (i) the mortgage loans identified by Seller/Servicer Number and by MBS Pool Number on Exhibit A attached and (ii) such additional mortgage loans as may be made a part of this Agreement pursuant to Section 16 hereof, in each case as required by the Fannie Mae Servicing Guide, including, without limitation, the requirements relating to the Servicer’s making Delinquent MBS Mortgage Repurchase Advances, Delinquency Advances and/or Servicing Advances; or
(b)    results in Fannie Mae having to change its processes relating to the reimbursement of Delinquent MBS Mortgage Repurchase Advances, Delinquency Advances and/or Servicing Advances.
16.    Secured Parties Under the Indenture.  
The Secured Parties under the Indenture, including holders of the Notes and participants in such Notes, shall benefit under the Transaction Documents and this Agreement solely through the Indenture Trustee and any such Secured Parties shall not be third party beneficiaries of this Agreement.  Fannie Mae shall have no direct liability to any such Secured Parties under the Indenture.  The Indenture Trustee hereby represents, warrants, and confirms to Fannie Mae that pursuant to the direction provided by the Issuer:  (i) the Indenture Trustee has the authority to enter into this Agreement on behalf of such Secured Parties under the Indenture, including holders of the Notes and participants in such Notes, (ii) this Agreement, the Transaction Documents, and any amendments thereto, shall be binding on such parties as if they were original signatories thereto and hereto, and (iii) the Indenture Trustee shall have the authority and duty to act exclusively for such parties with respect to Fannie Mae.

16

17.    Identification of Mortgage Loans.  This Agreement relates solely to the Servicing Advance Receivables relating to the mortgage loans identified on Exhibit A and additional mortgage loans that may be added to Exhibit A and become a part of this Agreement only upon the consent of Fannie Mae in its sole discretion.
18.    Fannie Mae’s Right to Perform Due Diligence Activities.  Until the occurrence of the Final Payment Date:
(a)    The Servicer shall make available or cause the Indenture Trustee to make available to Fannie Mae each Determination Date Administrator Report, each Interim Payment Date Report and Payment Date Report delivered pursuant to Article III of the Indenture from and after the date hereof.  The Servicer shall be responsible for any reasonable costs and expenses associated with providing Fannie Mae such reports.
(b)    Fannie Mae shall also have the right from time to time to perform due diligence activities (“Due Diligence”) relating to the Purchased Servicing Advance Receivables during business hours upon reasonable notice and request to the Servicer.  Promptly upon Fannie Mae’s (or its agent’s) advance request, the Servicer is required to provide reasonable access during business hours to its systems, personnel, books and records whether stored in tangible or electronic form.  The Servicer shall bear all reasonable costs and expenses of Fannie Mae associated with such Due Diligence, including, without limitation, third‐party vendor fees.
(c)    The Servicer acknowledges and agrees that the Due Diligence may include Fannie Mae (or its agent) making inquiries to the Depositor, the Issuer, the Indenture Trustee and/or the Administrative Agent, and the Servicer hereby authorizes each of the Depositor, the Issuer, the Indenture Trustee and/or the Administrative Agent to disclose from time to time to Fannie Mae such information that Fannie Mae may reasonably request.  The Servicer shall give, execute, and deliver, or cause or permit to be given, executed, and delivered, any instrument, document, agreement, letter of direction, consent, waiver, or other paper, as reasonably requested by Fannie Mae, that may be necessary or desirable in order to enable Fannie Mae to exercise and enforce its rights under this Section 18.
This Section 18 shall survive the termination of this Agreement if and for so long as Fannie Mae is obligated to reimburse the Indenture Trustee, the Administrative Agent, on behalf of the Secured Parties, for any Purchased Servicing Advance Receivable subject to reimbursement by Fannie Mae pursuant to the Fannie Mae Lender Contract.
19.    Choice of Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to any choice of law principles.  (other than Section 5‐1401 of the New York General Obligations Law).
20.    Counterparts.  This Agreement may be executed in counterparts, each of which is fully effective as an original and all of which together constitute one and the same instrument.
21.    Owner Trustee and Indenture Trustee.
(a)    It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Wilmington Trust, National Association, not individually 

17

or personally, but solely as Owner Trustee of the Issuer under the trust agreement for the Issuer, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representation, undertaking and agreement by Wilmington Trust, National Association but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Wilmington Trust, National Association individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Wilmington Trust, National Association be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer hereunder.
(b)    It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Wells Fargo Bank, N.A., not individually or personally, but solely as Indenture Trustee of behalf of and at the direction of the Issuer, (b) each of the Indenture Trustee’s representations, undertakings and agreements herein are made on behalf of the Secured Party (as defined in the Indenture) and are made and intended not as a personal representation, undertaking or agreement by the Indenture Trustee, and (c) under no circumstances shall the Indenture Trustee be liable for the payment of any obligation or be liable (absent the Indenture Trustee’s willful misconduct, fraud or gross negligence) for the breach or failure of any obligation or covenant made or undertaken by it under this Agreement.
  

18

IN WITNESS WHEREOF, the Servicer, the Depositor, the Issuer, the Indenture Trustee, the Administrative Agent and Fannie Mae have executed and delivered this Agreement as of the date first above written.
DITECH FINANCIAL LLC, 
as Servicer 
 
 
By: /s/ Cheryl Collins     
    Name: Cheryl Collins 
    Title: SVP & Treasurer
DITECH AGENCY ADVANCE DEPOSITOR LLC, 
as Depositor 
 
 
By: /s/ Cheryl Collins     
    Name: Cheryl Collins 
    Title: SVP & Treasurer
DITECH AGENCY ADVANCE TRUST, as Issuer 
 
By:    Wilmington Trust, National Association, not in 
    its individual capacity but solely as Owner 
    Trustee 
 
 
By: /s/ Rachel Simpson     
    Name: Rachel Simpson
    Title: Vice President
WELLS FARGO BANK, N.A., not in its individual capacity but solely as Indenture Trustee 
 
 
By: /s/ Mark DeFabio     
    Name: Mark DeFabio
    Title: Vice President

1" = "1" "ACTIVE 226523331v.4" "" ACTIVE 226523331v.4

CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC, as Administrative Agent 
  
 
By: /s/ Margaret Dellafera     
    Name: Margaret Dellafera 
    Title: Vice President

FANNIE MAE: 
 
 
By: /s/ Joseph A. Grimes III     
    Name: Joseph A. Grimes III  
    Title: V.P. Third Party Risk Management & MSR Financing

Exhibit A to Acknowledgment Agreement 
With Respect to Servicing Advance Receivables 
Dated as of February 9, 2018, and effective as of February 12, 2018, among 
Ditech Financial LLC, Ditech Agency Advance Trust, 
Ditech Agency Advance Depositor LLC, Wells Fargo Bank, N.A., Credit Suisse First Boston Mortgage Capital LLC 
and Fannie Mae
All mortgage loans serviced for Fannie Mae by Servicer under the Fannie Mae Lender Contract using the Fannie Mae Seller/Servicer numbers identified below:

	
		
	PORTFOLIO
	SELLER/SERVICER #

	FNMA BAC 154
	261840154

	FNMA Everbank 235
	261840235

	FNMA FLAGSTAR
	261840103

	FNMA FRANKLIN BANK
	261840065

	FNMA Green Tree Servicing LLC
	261840006

	FNMA NATCITY
	261840057

	FNMA OPTION ONE
	261840022

	FLAGSTAR
	261840170

	JP MORGAN CHASE BANK, NA
	261840189

	SECURITY ONE LENDING
	261840219

	FLAGSTAR BANK
	261840227

	CITI MORTGAGE, INC.
	261840278

	CITI MORTGAGE, INC.
	261840286

	CITI MORTGAGE, INC.
	261840294

	CITI MORTGAGE, INC.
	261840308

Exh. A‐1

Exhibit B to Acknowledgment Agreement 
With Respect to Servicing Advance Receivables 
Dated as of February 9, 2018, and effective as of February 12, 2018, among 
Ditech Financial LLC, Ditech Agency Advance Trust, 
Ditech Agency Advance Depositor LLC, Wells Fargo Bank, N.A., Credit Suisse First Boston Mortgage Capital LLC 
and Fannie Mae
Deposit Account:
Ditech Financial LLC (Wire Instructions)
Bank of America 
100 N. Tryon Street 
Charlotte, NC  28255 
ABA# 026009593 
Ditech Financial LLC 
345 St. Peter Street 
St. Paul, MN  55102 
Account# 1257813493
Ditech Financial LLC (ACH Instructions)
Bank of America 
100 N. Tryon Street 
Charlotte, NC  28255 
ABA# 121000358 
Ditech Financial LLC 
345 St. Peter Street 
St. Paul, MN  55102 
Account# 1257813493

Exh. B‐1

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