Document:

exv10w29

Exhibit 10.29

EXCESS SPREAD REFINANCED LOAN REPLACEMENT AGREEMENT

by and between

NATIONSTAR MORTGAGE LLC

(Seller)

and

NIC MSR I LLC

(Purchaser)

Dated and effective as of December 8, 2011

 

 

Table of Contents

	 	 	 	 	 

	ARTICLE I DEFINITIONS; GENERAL INTERPRETIVE PRINCIPLES
	 	 	1	 
	Section 1.01 Definitions
	 	 	1	 
	Section 1.02 General Interpretive Principles
	 	 	3	 
	 
	 	 	 	 
	ARTICLE II REPLACEMENT OF MORTGAGE LOANS
	 	 	4	 
	Section 2.01 Refinancing and Substitution of Mortgage Loans
	 	 	4	 
	Section 2.02 Criteria for Replacement Mortgage Loans
	 	 	4	 
	Section 2.03 Refinancing Incentives
	 	 	6	 
	Section 2.04 Procedures for Replacement Mortgage Loans
	 	 	7	 
	Section 2.05 Assignment of Replacement Mortgage Loan Excess Servicing Spread
	 	 	8	 
	Section 2.06 Base Servicing Fees with respect to Replacement Mortgage Loans
	 	 	9	 
	Section 2.07 Intent and Characterization
	 	 	9	 
	 
	 	 	 	 
	ARTICLE III REPRESENTATIONS AND WARRANTIES
	 	 	10	 
	Section 3.01 Representations, Warranties and Covenants of Seller
	 	 	10	 
	Section 3.02 Representations, Warranties and Covenants of Purchaser
	 	 	11	 
	 
	 	 	 	 
	ARTICLE IV MISCELLANEOUS
	 	 	11	 
	Section 4.01 Costs and Expenses
	 	 	11	 
	Section 4.02 Confidentiality
	 	 	11	 
	Section 4.03 Survival of Representations and Warranties
	 	 	12	 
	Section 4.04 Notices
	 	 	12	 
	Section 4.05 Waivers
	 	 	12	 
	Section 4.06 Entire Agreement; Amendment
	 	 	12	 
	Section 4.07 Binding Effect
	 	 	12	 
	Section 4.08 Headings
	 	 	13	 
	Section 4.09 Applicable Law
	 	 	13	 
	Section 4.10 Incorporation of Exhibits
	 	 	13	 
	Section 4.11 Counterparts
	 	 	13	 
	Section 4.12 Severability of Provisions
	 	 	13	 
	Section 4.13 Assignment
	 	 	13	 
	Section 4.14 Third Party Beneficiaries
	 	 	13	 

EXHIBITS

Exhibit A — Form of Assignment Agreement

Exhibit B — Example of calculations of Maximum Retained Refinancing Loan Amounts

Annex A

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EXCESS SPREAD REFINANCED LOAN REPLACEMENT AGREEMENT

     This EXCESS SPREAD REFINANCED LOAN REPLACEMENT AGREEMENT (as amended, restated, or otherwise
modified and in effect from time to time, this “Agreement”), dated as of December 8, 2011, is by
and between NIC MSR I LLC, a Delaware limited liability company (together with its successors and
assigns, the “Purchaser”), and Nationstar Mortgage LLC, a Delaware limited liability company
(together with its successors and assigns, the “Seller”) (the Purchaser and the Seller will
collectively be referred to as the “Parties” and each, a “Party”).

W I T N E S S E T H:

     WHEREAS, Seller and Purchaser have entered into the Excess Servicing Spread Sale and
Assignment Agreement, dated as of the date hereof (as amended, restated, or otherwise modified and
in effect, the “Excess Servicing Spread Sale and Assignment Agreement”), pursuant to which
Purchaser will purchase and assume all right, title and interest in the excess servicing spread
with respect to a portfolio of residential mortgage loans;

     WHEREAS, Seller desires to retain the right to refinance the residential mortgage loans in the
portfolio, and Purchaser is willing to grant such right, as long as the newly-originated
residential mortgage loans or replacement residential mortgage loans are included in the portfolio
in replacement of the refinanced residential mortgage loans as described herein; and

     WHEREAS, Purchaser and Seller desire to set forth the terms and conditions pursuant to which
residential mortgage loans in the portfolio may be refinanced and replaced in the portfolio.

     NOW, THEREFORE, in consideration of the mutual promises, covenants and conditions and for
other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and upon the terms and subject to the conditions set forth herein, the Parties hereto
agree as follows:

ARTICLE I

DEFINITIONS; GENERAL INTERPRETIVE PRINCIPLES

     Section 1.01 Definitions.

     Unless otherwise defined herein, capitalized terms have the meanings given to such terms in
the Excess Servicing Spread Sale and Assignment Agreement. Whenever used herein, the following
words and phrases, unless the context otherwise requires, shall have the following meanings:

     Agreement: As defined in the introduction hereof.

     Assignment Agreement: An assignment agreement substantially in the form of
Exhibit A to this Agreement or in such other form as mutually agreed upon by the Parties.

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     Available Portfolio: As defined in Section 2.04(a) hereof.

     Base Agreement: The Excess Servicing Spread Sale and Assignment Agreement or a Third
Party Base Agreement, as applicable.

     Excess Refinancing Percentage: As defined in Section 2.03 hereof.

     Excess Servicing Spread Sale and Assignment Agreement: As defined in the recitals to
this Agreement.

     Maximum Retained Refinancing Loan Amount: As defined in Section 2.03 hereof.

     Mortgage Loan: Each of the mortgage loans described in Exhibit A to the
Excess Servicing Spread Sale and Assignment Agreement, as supplemented by the terms of this
Agreement.

     New Mortgage Loan: As defined in Section 2.02(a)(ii)(1) hereof.

     Party or Parties: As defined in the introduction hereof.

     Purchaser: As defined in the introduction hereof.

     Quarterly Collection Period: As defined in Section 2.03 hereof.

     Refinanced Mortgage Loan: A Mortgage Loan that has been refinanced in whole or in
part by Seller or an affiliate thereof.

     Refinancing Date: The date on which a Mortgage Loan (including a Mortgage Loan that
was a Replacement Mortgage Loan) is refinanced by Seller or an affiliate thereof.

     Refinancing Split Percentage: As defined in Section 2.03 hereof.

     Related Collection Period: With respect to a Replacement Date, the Collection Period
in the third calendar month prior to such Replacement Date, and with respect to a Replacement Loan
Identification Date, the second calendar month prior to such Replacement Loan Identification Date.

     Replacement Agreement Third Party: As defined in Section 2.05(a)(iv) hereof.

     Replacement Date: With respect to a Refinanced Mortgage Loan and its related
Replacement Mortgage Loan, the Distribution Date in the third calendar month following the
Refinanced Mortgage Loan’s Refinancing Date.

     Replacement Loan Identification Date: With respect to a Refinanced Mortgage Loan and
its related Replacement Mortgage Loan, the 25th day of the second calendar month following the
Refinanced Mortgage Loan’s Refinancing Date.

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     Replacement Mortgage Loan: A residential mortgage loan that satisfies the conditions
set forth in Section 2.02(a) and which is required to be designated by Seller as a Mortgage
Loan hereunder in substitution of a Refinanced Mortgage Loan.

     Replacement Mortgage Loan Excess Spread: For any Replacement Mortgage Loan and for
each applicable Collection Period, (a) 65% of the Servicing Spread Collections with respect to such
Replacement Mortgage Loan remaining after payment of the applicable Base Servicing Fee for the
Replacement Mortgage Loan, (b) 65% of all other amounts payable by the applicable Agency to Seller
with respect to the Mortgage Loans, including any termination fees payable by an Agency to Seller
for terminating the Seller as the servicer of any of the Mortgage Loans but for the avoidance of
doubt, excluding all Ancillary Income and reimbursements received for advances and other
out-of-pocket expenditures from an Agency by Seller in accordance with the Servicing Agreements and
(c) 65% of any Repurchase Price received from Bank of America, National Association, pursuant to
Section 10.03 of the Mortgage Rights Purchase and Sale Agreement.

     Replacement Portfolio: As defined in Section 2.04(a) hereof.

     Replacement Shortfall: As defined in Section 2.03 hereof.

     Retained Portfolio: As defined in Section 2.04(a) hereof.

     Retained Replacement Mortgage Loan Excess Spread: For any Replacement Mortgage Loan
and for each applicable Collection Period, (a) 35% of the Servicing Spread Collections with respect
to such Replacement Mortgage Loan remaining after payment of the applicable Base Servicing Fee for
the Replacement Mortgage Loan, (b) 35% of all other amounts payable by the applicable Agency to
Seller with respect to the Mortgage Loans, including any termination fees payable by an Agency to
Seller for terminating the Seller as the servicer of any of the Mortgage Loans but for the
avoidance of doubt, excluding all Ancillary Income and reimbursements received for advances and
other out-of-pocket expenditures from an Agency by Seller in accordance with the Servicing
Agreements and (c) 35% of any Repurchase Price received from Bank of America, National Association,
pursuant to Section 10.03 of the Mortgage Rights Purchase and Sale Agreement.

     Selection Period: As defined in Section 2.04(b) hereof.

     Seller: As defined in the introduction hereof.

     Third Party Assignment: As defined in Section 2.05(a)(iv) hereof.

     Third Party Base Agreement: As defined in Section 2.05(a)(iv) hereof.

     Third Party Spread: As defined in Section 2.05(a)(iv) hereof.

     Section 1.02 General Interpretive Principles.

     For purposes of this Agreement, except as otherwise expressly provided or unless the context
otherwise requires:

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          (a) The terms defined in or incorporated by reference into this Agreement have the meanings
assigned to them in this Agreement or the Excess Servicing Spread Sale and Assignment Agreement, as
applicable, and include the plural as well as the singular, and the use of any gender herein shall
be deemed to include the other gender;

          (b) Accounting terms not otherwise defined herein have the meanings assigned to them in
accordance with generally accepted accounting principles;

          (c) References herein to “Articles,” “Sections,” “Subsections,” “Paragraphs,” and other
subdivisions without reference to a document are to designated Articles, Sections, Subsections,
Paragraphs and other subdivisions of this Agreement;

          (d) A reference to a Subsection without further reference to a Section is a reference to such
Subsection as contained in the same Section in which the reference appears, and this rule shall
also apply to Paragraphs and other subdivisions;

          (e) The words “herein,” “hereof,” “hereunder” and other words of similar import refer to this
Agreement as a whole and not to any particular provision; and

          (f) The term “include” or “including” shall mean without limitation by reason of enumeration.

ARTICLE II

REPLACEMENT OF MORTGAGE LOANS

     Section 2.01 Refinancing and Substitution of Mortgage Loans.

     Subject to, and upon the terms and conditions of this Agreement, and, more particularly, the
conditions of this Article II, if Seller refinances any Mortgage Loan, it shall designate a
residential mortgage loan as a Replacement Mortgage Loan and assign the Replacement Mortgage Loan
Excess Spread with respect to such Replacement Mortgage Loan on the applicable Replacement Date to
Purchaser as provided in this Agreement.

     Section 2.02 Criteria for Replacement Mortgage Loans.

          (a) As of the applicable Replacement Date, unless otherwise agreed upon by Seller and
Purchaser, either:

               (i) a Replacement Mortgage Loan shall satisfy the following criteria:

	 	(1)	 	All consents, if any, required by
the applicable Agency or any other Person, if any, to assign the
related Replacement Mortgage Loan Excess Servicing Spread with
respect to such Replacement Mortgage Loan shall have been
obtained;

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	 	(2)	 	The servicing fee rate for the
Replacement Mortgage Loan is not less than 0.25% per annum; and
	 
	 	(3)	 	The Replacement Mortgage Loan is
secured by the same property as the Refinanced Mortgage Loan,
and at least one of the Mortgagors of the Replacement Mortgage
Loan was a Mortgagor of the Refinanced Mortgage Loan; or

               (ii) if Seller is unable to satisfy the conditions in Section 2.02(a)(i) after
using commercially reasonable efforts, Seller shall use its best efforts to substitute the
Refinanced Mortgage Loan with a Replacement Mortgage Loan satisfying the following criteria:

	 	(1)	 	The servicing fee rate for the
Replacement Mortgage Loan is equal to or greater than the
servicing fee rate of the residential mortgage loan whose
proceeds were used to repay the Refinanced Mortgage Loan in
whole or in part (the “New Mortgage Loan”) and, in any event,
not less than 0.25% per annum;
	 
	 	(2)	 	The interest accrual rate per
annum on the Replacement Mortgage Loan is within 12.5 basis
points per annum of the interest accrual rate on the New
Mortgage Loan;
	 
	 	(3)	 	The final maturity date of the
Replacement Mortgage Loan is within six months of the final
maturity date of the New Mortgage Loan;
	 
	 	(4)	 	The remaining credit
characteristics of the Replacement Mortgage Loan (other than as
specified in clauses (1), (2) and (3)
above) are substantially the same as the credit characteristics
of the New Mortgage Loan;
	 
	 	(5)	 	The Replacement Mortgage Loan is
current as of the applicable Replacement Date; and
	 
	 	(6)	 	The Replacement Mortgage Loan is
not subject to any foreclosure or similar proceeding as of the
applicable Replacement Date; is not in process of any
modification, workout or other loss mitigation process; and is
not involved in litigation.

     (b) If a Replacement Mortgage Loan would otherwise meet the criteria set forth in Section
2.02(a) but has not been sold to an Agency as of the Replacement Loan Identification Date, in
lieu of substituting a loan pursuant to Section 2.02(a)(ii) above, the Seller may include
such Replacement Mortgage Loan in the Available Portfolio; provided (i) the servicing fee
rate for such Replacement Mortgage Loan shall be deemed to be 0.30% per annum and (ii) if at any
time such Replacement Mortgage Loan fails to meet the criteria set forth in

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Section 2.02(a), the Seller shall be required to substitute a loan for such
Replacement Mortgage Loan pursuant to Section 2.02(a)(ii) above.

     (c) Seller shall not be in breach of Section 2.01 on any Replacement Date if, after
using best efforts to select Replacement Mortgage Loans to substitute Refinanced Mortgage Loans
pursuant to Section 2.02(a)(ii), the aggregate outstanding principal balance of the
residential mortgage loans in the Available Portfolio as of such Replacement Date is equal to or
greater than 90% of the aggregate outstanding principal balance of the Refinanced Mortgage Loans
that were refinanced during the Related Collection Period as measured on the opening of business on
their respective Refinancing Date.

     Section 2.03 Refinancing Incentives.

     For any Replacement Date beginning with the Replacement Date in June 2012, Seller shall not be
required to substitute Replacement Mortgage Loans for Refinanced Mortgage Loans in an aggregate
principal amount up to the Maximum Retained Refinancing Loan Amount. For purposes of this
Section 2.03, the following definitions shall apply:

	 	 	 	Replacement Shortfall: With respect to any Replacement Date and the Related
Collection Period, the aggregate outstanding principal balance of the New Mortgage
Loans that were originated by Seller or an affiliate thereof during the Related
Collection Period as measured on the opening of business on their respective
Refinancing Date, minus the aggregate outstanding principal balance of the
residential mortgage loans in the Available Portfolio as of such Replacement Date.
	 
	 	 	 	Excess Refinancing Percentage: With respect to any Replacement Date, a percentage
equal to the excess, if any, of (a) a fraction, expressed as a percentage, the
numerator of which is equal to the aggregate principal balance of New
Mortgage Loans that were originated by Seller or an affiliate thereof over the
Related Collection Period and the two Collection Periods prior to such Related
Collection Period (the “Quarterly Collection Period”) as measured on the opening of
business on their respective Refinancing Date, minus the aggregate
Replacement Shortfall over such Quarterly Collection Period, and the
denominator of which is the aggregate principal balance of all voluntary
prepayments received on the Mortgage Loans over the Quarterly Collection Period,
over (b) 35%.
	 
	 	 	 	Refinancing Split Percentage: With respect to any Replacement Date, the Refinancing
Split Percentage shown in the column of the table below corresponding to the Excess
Refinancing Percentage therein:

	 	 	 	 	 
	Three Month Average Recapture	 	Excess Refinancing	 	Refinancing Split
	Percentage	 	Percentage	 	Percentage
	35% or Less
	 	0%	 	0%
	> 35%, <= 40%
	 	>0.00% and <=5.00%	 	25%
	> 40%, <= 45%
	 	>5.00% and <=10.00%	 	30%

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	Three Month Average Recapture	 	Excess Refinancing	 	Refinancing Split
	Percentage	 	Percentage	 	Percentage
	> 45%, <= 50%
	 	>10.00% and <=15.00%	 	35%
	> 50%, <= 55%
	 	>15.00% and <=20.00%	 	40%
	> 55%, <= 60%
	 	>20.00% and <=25.00%	 	45%
	Greater than 60%
	 	>25.00%	 	50%

	 	 	 	Maximum Retained Refinancing Loan Amount: With respect to any Replacement Date, an
amount, not less than zero, equal to the sum of (a) the product of
(i) the Refinancing Split Percentage, if any, applicable to such Replacement Date,
(ii) the Excess Refinancing Percentage applicable to such Replacement Date and (iii)
the aggregate principal balance of New Mortgage Loans that were refinanced with
Seller or an affiliate thereof during the Related Collection Period, plus
(b) the Carryover Retained Amount, minus (c) the applicable Replacement
Shortfall.
	 
	 	 	 	Carryover Retained Amount: With respect to any Replacement Date beginning with the
Replacement Date in July 2012, the excess, if any, of the Maximum Retained
Refinancing Loan Amount for the prior Replacement Date over the aggregate
outstanding principal balance of the Mortgage Loans that were retained by Seller
pursuant to this Section 2.03 on the prior Replacement Date.

     Section 2.04 Procedures for Replacement Mortgage Loans.

          (a) Not later than the Replacement Loan Identification Date, Seller shall (i) notify Purchaser
of the identity of each Mortgage Loan that became a Refinanced Mortgage Loan during the Related
Collection Period, (ii) calculate the Excess Refinancing Percentage, the Refinancing Split
Percentage, the Maximum Retained Refinancing Loan Amount and the Carryover Retained Amount for the
following Replacement Date, and notify Purchaser of such amounts in writing, (iii) provide
Purchaser with a list of potential Replacement Mortgage Loans (the “Available Portfolio”), selected
on the basis that the Excess Refinancing Percentage is equal to zero, and (iv) provide Purchaser
with a list of residential mortgage loans selected from the Available Portfolio to be designated as
Mortgage Replacement Loans (the “Replacement Portfolio”) on the following Replacement Date and a
list of residential mortgage loans selected from the Available Portfolio to be excluded from the
pool of Replacement Mortgage Loans (the “Retained Portfolio”) on the following Replacement Date in
accordance with Section 2.03.

          (b) Purchaser may submit an objection to the proposed Available Portfolio, the proposed
Replacement Portfolio or the proposed Retained Portfolio not later than five Business Days
following receipt of the notice of the proposed portfolios pursuant to Section 2.04(a). If
Purchaser submits an objection, Seller and Buyer shall work together in good faith over the next
five Business Days (the “Selection Period”) to mutually agree on the Replacement Portfolio and the
Retained Portfolio. During the Selection Period, Seller may suggest alternative Replacement
Mortgage Loans that meet the criteria of Section 2.02(a)(ii). If Seller and Purchaser are
unable to agree on a Replacement Portfolio and a Retained Portfolio (if applicable) by close of
business on the Business Day prior to the Replacement Date, Seller and Purchaser may modify the
percentages in the definitions of Replacement Mortgage Loan Excess Spread,

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Retained Replacement Mortgage Loan Express Spread, Excess Servicing Spread, Retained Servicing
Spread and in the Priority of Payments, as applicable, to reflect the relative values that Seller
and Purchaser would have had in the Excess Servicing Spread and Retained Servicing Spread but for
the inability of Seller and Purchaser to mutually agree on such portfolios.

          (c) Unless mutually agreed upon by Seller and Purchaser, the Retained Portfolio and the
Replacement Portfolio with respect to any Replacement Date shall satisfy the following criteria:

          (i) The aggregate outstanding principal balance of the residential mortgage loans in
the Retained Portfolio shall not exceed the Maximum Retained Refinancing Loan Amount;

          (ii) The weighted average servicing fee rate for the residential mortgage loans in the
Retained Portfolio shall be substantially equal to the weighted average servicing fee rate
for the Replacement Mortgage Loans in the Replacement Portfolio;

          (iii) The weighted average interest accrual rate per annum of the residential mortgage
loans in the Retained Portfolio shall be within 12.5 basis points per annum of the weighted
average interest rate of the Replacement Mortgage Loans in the Replacement Portfolio;

          (iv) The weighted average final maturity date of the residential mortgage loans in the
Retained Portfolio shall be within six months of the weighted average final maturity date of
the Replacement Mortgage Loans in the Replacement Portfolio; and

          (v) The remaining credit characteristics of the pool of residential mortgage loans in
the Retained Portfolio (other than as specified in clauses (ii), (iii) and
(iv) above) shall be substantially the same as the credit characteristics of the
pool of Replacement Mortgage Loans in the Replacement Portfolio.

          (d) Exhibit B provides an example of the calculations to be made pursuant to this Section
2.04.

     Section 2.05 Assignment of Replacement Mortgage Loan Excess Servicing Spread.

          (a) Subject to the satisfaction of the terms and conditions in this Agreement, on each
Replacement Date, Seller shall execute and deliver an Assignment Agreement for the Replacement
Mortgage Loan Excess Servicing Spread to be assigned on such Replacement Date with respect to
Replacement Mortgage Loans; provided, however, that

          (i) Purchaser shall be entitled to all Replacement Mortgage Loan Excess Spread and
Seller shall be entitled to all Retained Replacement Mortgage Loan Excess spread arising
with respect to each such Replacement Mortgage Loan on and after the Refinancing Date with
respect to the related Refinanced Mortgage Loan,

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          (ii) Seller shall deposit all Servicing Spread Collections received with respect to
such Replacement Mortgage Loans on and after the Refinancing Date with respect to the
related Refinanced Mortgage Loans into the Third Party Controlled Collection Account (other
than amounts on deposit in the Lockbox Account, which shall be deposited into the Third
Party Controlled Collection Account in accordance with the Excess Servicing Spread Sale and
Assignment Agreement) not later than the Replacement Date,

          (iii) for each Replacement Mortgage Loan that was originated on or after the
Refinancing Date of the related Refinanced Mortgage Loan, Seller shall deposit all Servicing
Spread Collections with respect to amounts prepaid at the time of closing of such
Replacement Mortgage Loan, if applicable, into the Third Party Controlled Custodial Account
not later than the Replacement Date,

          (iv) if the Purchaser’s rights under this Agreement have been assigned to a third party
that is not a party or an assignee of the Excess Servicing Spread Sale and Assignment
Agreement (a “Third Party Assignment”), such third party (a “Replacement Agreement Third
Party”) shall have entered into a new agreement (a “Third Party Base Agreement”) with Seller
or Seller’s assignee that provides such Replacement Agreement Third Party with the same
rights with respect to any Replacement Mortgage Loan Excess Spread arising after the date of
the Third Party Assignment (“Third Party Spread”) that Purchaser would have under the Excess
Servicing Spread Sale and Assignment if the Third Party Assignment had not occurred; it
being understood that Purchaser shall not have any rights in, and the Excess Spread Sale and
Assignment Agreement shall not apply to, any Third Party Spread.

          (b) Upon delivery of an Assignment Agreement,

          (i) Each of the Replacement Mortgage Loans whose Replacement Loan Excess Servicing
Spread is assigned thereunder shall be deemed to be a “Mortgage Loan” for all purposes of
the Base Agreement, mutatis mutandis, subject to the terms and conditions thereof and
hereof; and

          (ii) Each reference in the Excess Servicing Spread Sale and Assignment Agreement to the
“Sale Date” (or such comparable definition in any other Base Agreement) shall be deemed to
refer to the Refinancing Date.

     Section 2.06 Base Servicing Fees with respect to Replacement Mortgage Loans.

     Notwithstanding any provision of the Base Agreement to the contrary, the Base Servicing Fee
with respect to Replacement Mortgage Loan shall begin to accrue as of the Collection Period prior
to the applicable Replacement Date. In no event shall Base Servicing Fees accrue concurrently on
any day for a Refinanced Mortgage Loan and for a Replacement Mortgage Loan.

     Section 2.07 Intent and Characterization.

          (a) Seller and Purchaser intend that the assignments of the Replacement Mortgage Loan Excess
Spread pursuant to this Agreement and each Assignment Agreement

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constitute valid sales of such Replacement Mortgage Loan Excess Spread from Seller to
Purchaser, conveying good title thereto free and clear of any Lien, and that the beneficial
interest in and title to such Replacement Mortgage Loan Excess Spread not be part of Seller’s
estate in the event of the bankruptcy of Seller. Seller and Purchaser intend and agree to treat
the transfer and assignment of the Replacement Mortgage Loan Excess Spread as an absolute sale for
tax purposes, and as an absolute and complete conveyance of title for property law purposes.
Except for financial accounting purposes, neither party intends the transactions contemplated
hereby to be characterized as a loan from Purchaser to Seller.

          (b) In the event (but only in the event) that the conveyance of the Replacement Mortgage Loan
Excess Spread is characterized by a court or governmental authority as security for a loan rather
than a sale, Seller will be deemed to have granted to Purchaser, and Seller hereby grants to
Purchaser, a security interest in all of its right, title and interest in, to and under the
Replacement Mortgage Loan Excess Spread and all proceeds thereof as security for a loan in an
amount equal to the product of (x) the aggregate outstanding Replacement Mortgage Loan principal
balance as of the Replacement Date, (y) the Purchase Price Percentage and (z) 0.65.

ARTICLE III

REPRESENTATIONS AND WARRANTIES

     Section 3.01 Representations, Warranties and Covenants of Seller.

          (a) As an inducement to Purchaser to enter into this Agreement, Seller affirms each of its
representations, warranties and covenants in the Excess Servicing Spread Sale and Assignment
Agreement, which representations, warranties and covenants are hereby incorporated into this
Agreement; provided, however, that the Parties acknowledge that Replacement
Mortgage Loans are not required to be owned by the Owner.

          (b) Seller shall own all Mortgage Servicing Rights with respect to each Replacement Mortgage
Loan and shall be entitled to all Servicing Spread Collections with respect to each Replacement
Mortgage Loan other than the Replacement Mortgage Loan Excess Spread assigned to the Purchaser
hereunder.

          (c) Seller shall inform each Mortgagor of a Replacement Mortgage Loan to remit its mortgage
payments to the Lockbox Account.

          (d) Seller shall remain liable for all obligations with respect to the origination of each
Replacement Mortgage Loan and, if applicable, for all obligations with respect to the sale of such
Replacement Mortgage Loan to the applicable Agency.

          (e) Each agreement or arrangement that Seller enters into to purchase Mortgage Servicing
Rights shall be entered into on an arm’s length contractual basis in the ordinary course of
business and shall have market terms applicable for the type of Mortgage Servicing Rights to be
acquired thereby. Seller shall not enter into any agreement or

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arrangement with a third party intended to encourage the refinancing of any Mortgage Loan by
any Person other than Seller.

          (f) Seller shall cooperate with and assist any Replacement Agreement Third Party in drafting
and entering into a Third Party Base Agreement as reasonably requested.

     Section 3.02 Representations, Warranties and Covenants of Purchaser. As an inducement to
Seller to enter into this Agreement, Purchaser affirms each of its representations, warranties and
covenants in the Excess Servicing Spread Sale and Assignment Agreement, which representations,
warranties and covenants are hereby incorporated into this Agreement.

ARTICLE IV

MISCELLANEOUS

     Section 4.01 Costs and Expenses.

     Except as otherwise provided herein, Purchaser and Seller shall each pay the expenses incurred
by it or its affiliates in connection with the transactions contemplated hereby.

     Section 4.02 Confidentiality.

     Each Party understands that certain information which it has been furnished and will be
furnished in connection with this transaction, including, but not limited to information concerning
business procedures, servicing fees or prices, Non Public Personal Information and/or Personally
Identifiable Financial Information (as those terms are defined in Sections 573.3(n) and (o) of the
Office of Thrift Supervision Regulations on Privacy of Consumer Information published at 12 C.F.R.
Chapter V implementing Title V of the Gramm-Leach-Bliley Act), policies or plans of the other party
or any of its affiliates, is confidential and proprietary, and each party agrees that it will
maintain the confidentiality of such information and will not disclose it to others (except for its
affiliates and its and their respective directors, managers, officers, employees, financing
sources, agents, representatives and advisors), or use it except in connection with the proposed
acquisition contemplated by this Agreement, without the prior written consent of the party
furnishing such information. Information which is generally known in the industry concerning a
Party or among such Party’s creditors generally or which has been disclosed to the other Party by
third parties who have a right to do so shall not be deemed confidential or proprietary information
for these purposes. If Purchaser, any of its affiliates or any officer, director, employee or
agent of any of the foregoing is at any time requested or required to disclose any information
supplied to it in connection with the transactions contemplated hereby, Purchaser agrees to provide
Seller with prompt notice of such request(s) so that Seller may seek an appropriate protective
order and/or waive Purchaser’s compliance with the terms of this Section 4.02. If Seller,
any of its affiliates or any officer, director, employee or agent of any of the foregoing is at any
time requested or required to disclose any information supplied to it in connection with the
transactions contemplated hereby, Seller agrees to provide Purchaser with prompt notice of such
request(s) so that Purchaser may seek an appropriate protective order and/or waive Seller’s
compliance with the terms of this Section 4.02. Notwithstanding the terms of this
Section 4.02, if, in the absence of a protective order or the

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receipt of a waiver hereunder, Purchaser or Seller is nonetheless, in the opinion of its
counsel, compelled to disclose information concerning the other party to any tribunal or else stand
liable for contempt or suffer other censure or penalty, Purchaser or Seller may disclose such
information to such tribunal without liability hereunder. If the proposed acquisition is not
consummated, each party agrees to promptly return to the other, promptly upon request, all
confidential materials, and all copies thereof, which have been furnished to it in connection with
the transactions contemplated hereby.

     Section 4.03 Survival of Representations and Warranties.

     Each party hereto covenants and agrees that the representations and warranties in this
Agreement, and in any document delivered or to be delivered pursuant hereto, shall survive each
applicable Replacement Date.

     Section 4.04 Notices.

     All notices, requests, demands and other communications which are required or permitted to be
given under this Agreement shall be in writing and shall be deemed to have been given if personally
delivered or sent by registered or certified mail, return receipt requested, postage prepaid or by
prepaid overnight delivery service to the specified in or otherwise provided in accordance with the
Excess Servicing Spread Sale and Assignment Agreement.

     Section 4.05 Waivers.

     Either Purchaser or Seller may, by written notice to the other:

          (a) Extend the time for the performance of any of the obligations or other transactions of the
other; and

          (b) Waive compliance with or performance of any of the terms, conditions, covenants or
obligations required to be complied with or performed by the other hereunder.

     The waiver by Purchaser or Seller of a breach of any provision of this Agreement shall not
operate or be construed as a waiver of any other subsequent breach.

     Section 4.06 Entire Agreement; Amendment.

     This Agreement and the related Transaction Documents constitute the entire agreement between
the parties with respect to the transactions contemplated hereby and supersede all prior agreements
with respect thereto. This Agreement may be amended only in a written instrument signed by both
Seller and Purchaser.

     Section 4.07 Binding Effect.

     This Agreement shall inure to the benefit of and be binding upon the Parties and their
successors and assigns. Nothing in this Agreement, express or implied, is intended to confer on
any Person other than the Parties and their successors and assigns, any rights, obligations,
remedies or liabilities.

12

 

     Section 4.08 Headings.

     Headings on the Articles and Sections in this Agreement are for reference purposes only and
shall not be deemed to have any substantive effect.

     Section 4.09 Applicable Law.

     This Agreement shall be construed in accordance with the laws of the State of New York and the
obligations, rights and remedies of the parties hereunder shall be determined in accordance with
the laws of the State of New York, except to the extent preempted by Federal law. The parties agree
to waive trial by jury in the event of any dispute under this Agreement.

     Section 4.10 Incorporation of Exhibits.

     The Exhibits attached hereto shall be incorporated herein and shall be understood to be a part
hereof as though included in the body of this Agreement.

     Section 4.11 Counterparts.

     This Agreement may be executed in counterparts, each of which, when so executed and delivered,
shall be deemed to be an original and all of which, taken together, shall constitute one and the
same agreement.

     Section 4.12 Severability of Provisions.

     If any one or more of the covenants, agreements, provisions or terms of this Agreement shall
be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms
shall be deemed severable from the remaining covenants, agreements, provisions or terms of this
Agreement and shall in no way affect the validity or enforceability of the other provisions of this
Agreement or of the rights of the parties hereto.

     Section 4.13 Assignment.

     Seller may not assign all or any part of this Agreement, or any interest herein, without the
prior written consent of Purchaser, provided that any successor to Seller must assume
Seller’s obligations under this Agreement. Purchaser shall have the unrestricted right to further
assign, transfer, deliver, hypothecate, pledge, subdivide or otherwise deal with its rights under
this Agreement on whatever terms Purchaser shall determine; provided that in the case of
any Third Party Assignment, the Replacement Agreement Third Party and Seller shall enter into a
Third Party Base Agreement that provides such Replacement Agreement Third Party with the same
rights with respect to the Third Party Spread that Purchaser would have had under the Excess
Servicing Spread Sale and Assignment Agreement if the Third Party Assignment had not occurred.

     Section 4.14 Third Party Beneficiaries.

     This Agreement does not and is not intended to confer any rights or remedies upon any person
or entity other than Purchaser and Seller.

13

 

     IN WITNESS WHEREOF, each of the undersigned parties to this Agreement has caused this
Agreement to be duly executed in its corporate name by one of its duly authorized officers, all as
of the date first above written.

	 	 	 	 	 	 	 

	 	 	NIC MSR I LLC

Purchaser	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	NIC MSR LLC, as Member	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Brian Sigman
 

Brian Sigman
	 	 
	 

	 	Title:
	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	NATIONSTAR MORTGAGE LLC

Seller	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Gregory Oniu
 

Gregory Oniu
	 	 
	 
	 	Title:	 	Senior Vice President	 	 

14

 

EXHIBIT A

FORM OF ASSIGNMENT AGREEMENT FOR REPLACEMENT MORTGAGE LOANS

     Subject to, and upon the terms and conditions of the Excess Servicing Spread Sale and
Assignment Agreement, dated as of December 8, 2011 (the “Agreement”), by and between Nationstar
Mortgage LLC, a Delaware limited liability company (together with its successors and assigns, the
“Seller”) and NIC MSR I LLC, a Delaware limited liability company (together with its successors
assigns, the “Purchaser”), Seller hereby assigns, transfers and delivers to Purchaser all of
Seller’s right, title and interest in and to Replacement Mortgage Loan Excess Spread for each of
the Replacement Mortgage Loans set forth in Annex A attached hereto and all proceeds thereof, and
agrees that as of the applicable Refinancing Date, the applicable Replacement Mortgage Loan shall
be deemed to be a “Mortgage Loan” for all purposes of the Agreement. Capitalized terms used in
this Assignment Agreement have the meanings given to such terms in, or incorporated by reference
into, the Agreement.

     All of the terms, covenants, conditions and obligations of the Agreement required to be
complied with and performed by Seller on or prior to the date hereof have been duly complied with
and performed in all material respects.

	 	 	 	 	 	 	 

	 	 	NATIONSTAR MORTGAGE LLC	 	 
	 	 	Seller	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 

15

 

Exhibit B

Example of calculations of Maximum Retained Refinancing Loan Amounts

	 	 	 	 	 	 	 
	Recaptured Loan Incentive	 	Range of Loans Retained as a Percentage of
	3 Month Avg	 	Retained	 	Total Recapture
	Recapture	 	Percentage(1)	 	Nationstar	 	Portfolio
	35% or Less
	 	0%	 	0.00%	 	100.00%
	> 35%, <= 40%
	 	25%	 	0.00% to 1.25%	 	100.00% to 98.75%
	> 40%, <= 45%
	 	30%	 	1.50% to 3.00%	 	98.50% to 97.00%
	> 45%, <= 50%
	 	35%	 	3.50% to 5.25%	 	96.50% to 94.75%
	> 50%, <= 55%
	 	40%	 	6.00% to 8.00%	 	94.00% to 92.00%
	> 55%, <= 60%
	 	45%	 	9.00% to 11.25%	 	91.00% to 88.75%
	> 60%, <= 65%
	 	50%	 	12.50% to 15.00%	 	87.50% to 85.00%
	> 65%, <= 70%
	 	50%	 	15.00% to 17.50%	 	85.00% to 82.50%
	> 70%, <= 75%
	 	50%	 	17.50% to 20.00%	 	82.50% to 80.00%
	Greater than 75%
	 	50%	 	20.00% to 32.50%	 	80.00% to 67.50%

 

			
	1	 	Represents the percentage of loans Nationstar retains above 35% recapture.

16

 

Annex A

[ATTACH ANNEX A, WHICH MAY BE ON COMPUTER TAPE, COMPACT DISK, OR MICROFICHE, CONTAINING THE

INFORMATION SET FORTH BELOW]

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	(e)	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Principal	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	(c)	 	 	 	 	 	Balance of	 	 	 	 	 	 	 	 	 	 	 	 	 	(j)
	 	 	 	 	(b)	 	Principal	 	(d)	 	Replacement	 	 	 	 	 	 	 	 	 	(i)	 	(65% of column
	 	 	 	 	Loan # of	 	Balance of	 	Loan # of	 	Mortgage	 	 	 	 	 	 	 	 	 	(column (g) —	 	(i))
	(a)	 	Refinanced	 	Refinanced	 	Replacement	 	Loan as of the	 	(g)	 	(h)	 	column (h))	 	Replacement
	Refinancing	 	Mortgage	 	Mortgage	 	Mortgage	 	Replacement	 	Servicing	 	Base Servicing	 	Net Servicing Fee	 	Mortgage Loan
	Date	 	Loan	 	Loan	 	Loan	 	Date	 	Fee Rate	 	Fee Rate	 	Rate	 	Excess Spread

17exv10w30

Exhibit 10.30

	 	 	 

	Fannie Mae 

Letterhead

	 	3900 Wisconsin Avenue, NW
 
Washington, DC 20016-2892

202 752 7000

As
Soon As Pooled Plus® Agreement *

			
	Dated as of	 	March 24, 2009

			
	Between:	 	Fannie Mae and

			
	Lender:	 	NationStar Mortgage, LLC

This As Soon As Pooled Plus® Agreement (this “ASAP Plus Agreement”) is entered
into between the Lender and Fannie Mae to allow the Lender to deliver closed and funded one-to-four
family residential mortgage loans, each secured by related mortgages and deeds of trust (such
mortgage loans, mortgages, and deeds of trust, collectively, the “Mortgage Loans”) to
Fannie Mae and receive funding from Fannie Mae in exchange for such Mortgage Loans before the
Lender has (i) grouped them into pools to be securitized by Fannie Mae, or (ii) delivered them to
Fannie Mae via Whole Loan Execution.

Fannie Mae and the Lender hereby agree as follows:

1. Applicability

     This ASAP Plus Agreement is made pursuant to, and shall be deemed to be a part of, the
Mortgage Selling and Servicing Contract between Fannie Mae and the Lender and, except as otherwise
provided herein, shall be subject to the Guides and applicable provisions of the other Collateral
Documents (collectively referred to herein as the “Agreement”). The Lender and Fannie Mae
may enter into transactions from time to time in accordance with the requirements set forth in this
ASAP Plus Agreement notwithstanding anything to the contrary in the Guides. Nothing in the
Agreement is intended to or shall be construed to confer upon the Lender the right to make a
delivery of Mortgage Loans to Fannie Mae or to confer upon Fannie Mae the obligation to accept a
delivery of Mortgage Loans from the Lender.

2. Definitions

     The following terms and definitions apply to each sale of Mortgage Loans made pursuant to this
ASAP Plus Agreement:

     (a) “Act of Insolvency” with respect to Lender: (i) the commencement by Lender as
debtor of any case or proceeding under any bankruptcy, insolvency, reorganization, liquidation,
dissolution or similar law, or Lender seeking the appointment of a receiver, trustee, custodian, or
similar official for Lender or any substantial part of its property, or (ii) the commencement of an
involuntary bankruptcy or insolvency proceeding against Lender, which proceeding is not dismissed
within 15 days, or (iii) the making by Lender of a general assignment for the benefit of creditors,
or (iv) the admission in writing by Lender of Lender’s inability to pay Lender’s debts as they
become due.

*  In November 2011, Nationstar Mortgage LLC received an
increase to $200 million in the total limit on its As Soon As Pooled Plus Agreement. There was no written amendment executed in conjunction with this increase.

 

 

     (b) “Additional Mortgage Loans”: Mortgage Loans which meet the eligibility
requirements of Section 6 hereof and are provided by Lender to Fannie Mae pursuant to Section 7(a)
hereof.

     (c) “Agreement”: the meaning specified in Section 1 hereof.

     (d) “ASAP Sale Agreement”: the current As Soon As Pooled Sale Agreement between Lender
and Fannie Mae.

     (e) “Business Day”: any day other than a Saturday, Sunday or other day on which Fannie
Mae or the Federal Reserve Bank of New York is closed for business.

     (f) “Collateral Documents”: the Mortgage Selling and Servicing Contract, the Guides,
the ASAP Sale Agreement, the Funding Express Agreement and any applicable provisions of any master
pool purchase agreement, MBS purchase contract, or other document governing the delivery of
mortgages, mortgage loans, deeds of trust, and other mortgage documents between the Lender and
Fannie Mae.

     (g) “Confirmation”: the meaning specified in Section 4 hereof.

     (h) “DDF Unit”: Fannie Mae’s Document Delivery Facility as defined in the Guides.

     (i) “Fannie Mae Margin Amount”: with respect to any Mortgage Loan as of any date, the
amount obtained by multiplying a percentage, agreed to by Fannie Mae and the Lender prior to
delivery of such Mortgage Loan by the Lender to Fannie Mae hereunder, to the Repurchase Price for
such Mortgage Loan as of such date.

     (j) “Funding Express”: that method, as described in the Funding Express Agreement, for
transmitting Mortgage Loan data from Lender to Fannie Mae.

     (k) “Funding Express Agreement”: the agreement between the Lender and Fannie Mae
governing Fannie Mae’s Funding Express application, which is used by Lender to transmit required
Mortgage Loan data to Fannie Mae to initiate delivery of Mortgage Loans or Additional Mortgage
Loans pursuant to this ASAP Plus Agreement.

     (l) “Guides”: the Fannie Mae Selling Guide and the Fannie Mae Servicing Guide, each as
amended from time to time.

     (m) “Income”: with respect to any Mortgage Loan at any time, any principal, interest
or other amounts paid thereon.

     (n) “Loan Number”: the unique identifier assigned by Fannie Mae to each Mortgage Loan.

     (o) “Margin Deficit”: an unpaid Fannie Mae Margin Amount.

     (p) “Market Value”: with respect to any Mortgage Loan as of any date, the most recent
price quotation for such Mortgage Loan on such date obtained from Fannie Mae.

2

 

     (q) “Mortgage Documents”: any document which the Lender is required to deliver by the
Guides to Fannie Mae or a third-party document custodian.

     (r) “Mortgage Loan”: a residential mortgage loan, secured by a mortgage or deed of
trust, which is eligible for purchase by Fannie Mae under the Guides and that is transferred by
Lender to Fannie Mae hereunder, either on a Purchase Date or as an Additional Mortgage Loan
pursuant to Section 7 hereof.

     (s) “Mortgage Selling and Servicing Contract”: that current contract between Fannie
Mae and the Lender, relating to the sale and servicing of Mortgage Loans.

     (t) “Price Differential”: with respect to any Mortgage Loan as of any date, the
aggregate amount obtained by multiplying the Pricing Rate for such Mortgage Loan times the Purchase
Price for such Mortgage Loan, as calculated on a daily basis during the period commencing on (and
including) the Purchase Date for such Mortgage Loan and ending on (but excluding) the date used to
determine such Price Differential.

     (u) “Pricing Rate”: the per annum percentage rate (as calculated on a 360-day year
basis on each Business Day and as effective until the next Business Day) for determination of the
Price Differential, as set forth in the related Confirmation.

     (v) “Prime Rate”: the rate that Citibank, N.A. or any successor thereto announces
publicly from time to time to be its base or prime rate of interest, or if at any time Citibank,
N.A. shall cease to announce its base or prime rate of interest, then the rate that is published in
the Wall Street Journal as the “prime rate.” For any particular day, the Prime Rate shall be that
rate most recently announced or published as of 8:30 a.m. (Eastern Time) on such day.

     (w) “Purchase Date”: the date agreed upon by Fannie Mae and the Lender as the date for
purchase of a Mortgage Loan in accordance with the provisions of Section 3(a) of this ASAP Plus
Agreement.

     (x) “Purchase Price”: on a Purchase Date, the price at which a Mortgage Loan is
purchased by Fannie Mae from the Lender, determined as provided in accordance with the provisions
of Section 3 and set forth in the related Confirmation.

     (y) “Repurchase Date”: for each Mortgage Loan, that day on which Lender has, pursuant
to Section 5(b) hereof, been deemed to have taken delivery of such Mortgage Loan and redelivered it
to Fannie Mae either pursuant to the ASAP Sale Agreement or via Whole Loan Execution.

     (z) “Repurchase Price”: the price at which a Mortgage Loan is to be transferred from
Fannie Mae to Lender, which Repurchase Price shall equal the sum of the Purchase Price for such
Mortgage Loan and the Price Differential with respect to such Mortgage Loan as of the date of such
determination.

     (aa) “Whole Loan Execution”: that procedure, as set forth in the Guides, for sale of
Mortgage Loans to Fannie Mae for cash.

3

 

Any capitalized terms used but not defined herein have the meanings given to such terms in the
Guides and the Mortgage Selling and Servicing Contract between Fannie Mae and the Lender.

3. Initiation of an As Soon As Pooled Plus Transaction

     (a) In order to initiate an As Soon As Pooled Plus transaction hereunder, the Lender must
deliver a Mortgage Loan via a Funding Express transmission to Fannie Mae by no later than 12:00
noon (Eastern time) at least one Business Day prior to the Purchase Date therefor. The Lender must
accurately complete each open data field provided in the Funding Express transmission for such
Mortgage Loan. The Lender must then request approval to make delivery of such Mortgage Loan under
this ASAP Plus Agreement by contacting Fannie Mae’s Capital Markets Sales Desk by telephone not
later than 2:00 p.m. (Eastern time) on the Business Day preceding the Purchase Date, in order to
establish the terms of the transaction, including the Purchase Price, the Pricing Rate, the
applicable margin percentage and the Purchase Date. Any delay by the Lender in sending the Funding
Express transmission or in agreeing to the terms of the transaction will result in a Purchase Date
not earlier than the second Business Day following the Funding Express transmission.

     (b) Not later than 9:00 a.m. (Eastern time) on the Purchase Date, the Lender will deliver a
complete and accurate Mortgage Document package consistent with the terms of the related Funding
Express transmission to the DDF Unit, in accordance with the terms of the Guides. The Lender must
either (i) attach an As Soon As Pooled® Plus label (which can be obtained from the Fannie Mae
regional office or the Capital Markets Sales Desk) to the envelope bearing such Mortgage Documents,
or (ii) write the words “As Soon As Pooled Plus” in blue ink on such envelope. Any failure by the
Lender to comply with these conditions, or any failure of the Mortgage Documents to be in a form
required by the Guides or any related MBS pool purchase contract, will result in the delay of the
Purchase Date under this Agreement and the imposition of funding costs on the Lender or
cancellation of the proposed transaction, as determined by Fannie Mae.

     (c) If Fannie Mae elects to purchase a Mortgage Loan delivered in an As Soon As Pooled Plus
transaction pursuant to Section 3 hereof, Fannie Mae will remit the Purchase Price of such Mortgage
Loan (less the amount of any unpaid Margin Deficit) to the Lender on the Purchase Date by wire
transfer in accordance with the provisions of Annex I hereto, upon the certification by the
DDF Unit that the Mortgage Document package is complete, accurate and consistent with the terms of
the related Funding Express transmission.

4. Confirmation of an As Soon As Pooled Plus Transaction

     Upon agreeing to accept the delivery of a Mortgage Loan hereunder, Fannie Mae shall promptly
transmit to the Lender a written confirmation of such acceptance (a “Confirmation”). The
Confirmation shall (i) describe such Mortgage Loan by its Loan Number, (ii) identify the Lender,
(iii) set forth the Purchase Date, the Purchase Price, and the Pricing Rate for such Mortgage Loan,
and (iv) set forth any additional terms or conditions of such transaction not inconsistent with
this ASAP Plus Agreement. The Confirmation, together with this ASAP Plus Agreement, shall
constitute conclusive evidence of the terms agreed between Fannie Mae and Lender with respect to
the acquisition of the Mortgage Loans to which the Confirmation relates,

4

 

unless, with respect to such Confirmation, specific objection is made by the Lender promptly
(and, in any case, within twenty-four hours) after receipt thereof. In the event of any conflict
between the terms of such Confirmation and this ASAP Plus Agreement, this ASAP Plus Agreement shall
prevail.

5. Completion of As Soon As Pooled Plus Transactions/Redelivery

     (a) On each Business Day, the Pricing Rate for each Mortgage Loan shall be subject to
adjustment.

     (b) The Lender shall repurchase each Mortgage Loan on a date that is not more than 60 days
after the Purchase Date related to such Mortgage Loan. Immediately after such repurchase, the
Lender shall redeliver such Mortgage Loan to Fannie Mae pursuant to the ASAP Sale Agreement or via
Whole Loan Execution. Fannie Mae will continue to act as the document custodian for the Mortgage
Documents relating to such Mortgage Loan pursuant to the Guides throughout the repurchase and
redelivery contemplated hereby.

     (c) On each Repurchase Date, Fannie Mae will calculate (i) the price Fannie Mae is to pay for
delivery of each Mortgage Loan redelivered to it on such Repurchase Date pursuant to the ASAP Sale
Agreement or via Whole Loan Execution, (ii) the Repurchase Price which the Lender is obligated to
pay to Fannie Mae to repurchase such Mortgage Loan, and (iii) any Margin Deficit payable with
respect to any Mortgage Loan that Lender has not redelivered to Fannie Mae pursuant to Section 5(b)
hereof. Fannie Mae shall pay the amount calculated in clause (i) above to Lender by wire to the
account of the Lender set forth in Annex I. Lender shall pay Fannie Mae the amounts
calculated in clause (ii) and (iii) above by wire to the account of Fannie Mae set forth in
Annex I. The parties agree that such payment obligations may be applied against each other
and netted.

6. Eligible Mortgages

     Each Mortgage Loan sold to Fannie Mae in each As Soon As Pooled Plus transaction must: (i)
meet the eligibility requirements of the Mortgage Selling and Servicing Contract, the Guides and
any applicable pool purchase contract; (ii) have been closed and funded at least one Business Day
before the date of the Funding Express transmission with respect thereto and no longer subject to
any applicable right of rescission; and (iii) be eligible for delivery into “TBA” Pools (or other
pools as approved by Fannie Mae), or have such other terms as have been approved by Fannie Mae.

7. Margin Maintenance

     (a) The Lender agrees that if at any time the aggregate Market Value of all Mortgage Loans
delivered by it to Fannie Mae pursuant to this ASAP Plus Agreement but not yet repurchased by
Lender pursuant to Section 5(b) hereof is less than the aggregate Fannie Mae Margin Amount for all
Mortgage Loans, then upon its receipt of notice from Fannie Mae delivered pursuant to Annex
I hereto, Lender shall transfer to Fannie Mae either cash or Additional Mortgage Loans (as
determined in Lender’s discretion) acceptable to Fannie Mae, so that the sum of such cash and the
aggregate Market Value of the Mortgage Loans, including any

5

 

such Additional Mortgage Loans, will thereupon equal or exceed such aggregate Fannie Mae
Margin Amount.

     (b) With respect to any Mortgage Loan delivered by the Lender to Fannie Mae hereunder, Fannie
Mae may require the Lender to cure a Margin Deficit, as provided in Section 7(a) hereof, whenever
such a Margin Deficit exists with respect to such Mortgage Loan hereunder (calculated without
regard to any other Mortgage Loan outstanding under this Agreement).

8. Income Payments on the Mortgage Loans; Servicing of the Mortgage Loans

     (a) Lender shall service each Mortgage Loan purchased by Fannie Mae pursuant to this Agreement
on behalf of Fannie Mae in accordance with the Guides. Lender shall not transfer servicing of any
of such Mortgage Loans without Fannie Mae’s prior written approval.

     (b) Lender shall hold all Income that is received during, or that is attributable to, the
period between the Purchase Date and the Repurchase Date on any Mortgage Loan in a segregated bank
account designated in the name of Fannie Mae. Lender further acknowledges and agrees that: (i) at
all times such Income is the property of Fannie Mae; (ii) it will not commingle such Income with
any other funds; (iii) it has granted Fannie Mae a security interest in all Income and other
proceeds that it receives during, or that is attributable to, the period between the Purchase Date
and the Repurchase Date on any Mortgage Loan; and (iv) it shall be obligated to provide Fannie Mae,
upon one Business Day’s written notice from Fannie Mae to Lender, with an accounting with respect
to such Mortgage Loan and all Income and other proceeds related to such Mortgage Loan.

     (c) Lender shall provide written notice to Fannie Mae of, and allow Fannie Mae to attend, any
meetings to which creditors of the Lender are invited. If the Lender is a mortgage banker, Lender
shall submit a Mortgage Bankers’ Financial Reporting Form (Form 1002) to Fannie Mae within 60 days
after the end of each calendar quarter (unless such calendar quarter ends on December 31, in which
case Lender shall submit Form 1002 within 90 days of the end of such calendar quarter).

9. Absolute Sale of Mortgage Loans

     (a) The Lender and Fannie Mae intend and agree that each delivery of a Mortgage Loan accepted
by Fannie Mae pursuant to this ASAP Plus Agreement shall constitute a true, absolute and
unconditional sale by the Lender and purchase by Fannie Mae of that Mortgage Loan. By delivering a
Mortgage Loan to Fannie Mae pursuant to this ASAP Plus Agreement, the Lender agrees, represents and
warrants that (i) all of its right, title and interest in such Mortgage Loan is sold, transferred,
set over and otherwise conveyed to Fannie Mae as of the Purchase Date for such Mortgage Loan,
including, without limitation, all right, title, and interest in the Income related thereto; and
(ii) as of such date, the Lender no longer holds any “equitable interest” in such Mortgage Loan, as
such term is used in Section 541(d) of the Bankruptcy Code of 1978, as amended. No delay in the
presentation or delivery of any document needed to complete the Mortgage Documentation package with
respect to any Mortgage Loan shall have any effect on the absolute nature of the sale of such
Mortgage Loan to Fannie Mae hereunder.

6

 

     (b) If, notwithstanding this mutual intent of the Lender and Fannie Mae, and the Lender’s
agreements, representations and warranties as provided in Section 9(a) hereof, the transfer and
sale of a Mortgage Loan is determined by a court or another appropriate forum to be a financing
rather than a sale, the Lender shall be deemed to have granted Fannie Mae a first priority
perfected security interest in and upon all of the Lender’s right, title, and interest in and to
such Mortgage Loan, including, without limitation, all right, title, and interest in the Income
related thereto, related custodial, collection and escrow accounts, related mortgage and servicing
files and documents and all products and proceeds of any of the foregoing, as security for the
payment to Fannie Mae of principal, interest, and other sums due with respect to such Mortgage
Loan, and the Lender agrees to execute all endorsements and assignments necessary in order to
reflect the ownership interests of Fannie Mae, as intended by this ASAP Plus Agreement.

10. Payment and Transfer

     Unless otherwise mutually agreed, all transfers of funds hereunder shall be in immediately
available funds. All funds remitted to Lender by Fannie Mae on the Purchase Date for each Mortgage
Loan will be made in accordance with the provisions of Annex I.

11. Substitution; Repurchase

     After the Purchase Date related to any Mortgage Loan, Lender may not substitute other Mortgage
Loans for such Mortgage Loan or repurchase such Mortgage Loan (except as required by Fannie Mae in
accordance with this ASAP Plus Agreement or the Collateral Documents).

12. Representations and Warranties of Lender

     (a) In addition to the representations and warranties of the Lender contained in the
Collateral Documents, the Lender represents and warrants, as of the date of this ASAP Plus
Agreement and is deemed to represent and warrant as of each Purchase Date under this ASAP Plus
Agreement, that: (i) it is duly authorized to execute and deliver this ASAP Plus Agreement, to
enter into the transactions contemplated hereunder and to perform its obligations hereunder; (ii)
it will engage in such transactions as principal; (iii) the person signing this ASAP Plus Agreement
is duly authorized to do so on its behalf; (iv) the execution, delivery and performance of this
ASAP Plus Agreement and the transactions hereunder will not violate any law, ordinance, charter,
by-law or rule applicable to it; (v) the Lender is not in breach of the terms, conditions or
provisions contained in, or in default under, any agreement by which it is bound or by which any of
its assets are affected; (vi) Lender has executed each Collateral Document and each Collateral
Document is in full force and effect and the Lender is not in default under any Collateral
Document; (vii) Lender does not sell to Fannie Mae all the mortgage loans that it originates; and
(viii) Lender has not, without the written consent of Fannie Mae, transferred the servicing of any
Mortgage Loans that it services on behalf of Fannie Mae pursuant to this ASAP Plus Agreement or any
other agreement between Fannie Mae and the Lender.

     (b) The Lender further represents and warrants as of each Purchase Date that: (i) each
Mortgage Loan sold by it to Fannie Mae on such Purchase Date under this ASAP Plus Agreement meets
the requirements of the Agreement; (ii) all of the Mortgage Documents relating to such Mortgage
Loans, including the mortgage notes, are complete in all material

7

 

respects and under Lender’s exclusive ownership and control; (iii) the Lender owns all rights,
title, and interest in and to each such Mortgage Loan, possesses unencumbered title to the
mortgages securing such Mortgage Loans and has full right and authority to transfer such Mortgage
Loans to Fannie Mae; (iv) there is no interest in any Mortgage Loan which has been sold, assigned,
transferred, pledged or hypothecated on such Purchase Date that is held by any party other than
Fannie Mae; (v) no servicing agreement has been entered into with respect to such Mortgage Loans,
or any such servicing agreement has been terminated, and there are no restrictions that would
impair the ability of Fannie Mae to service such Mortgage Loans; (vi) each of the Lender and Fannie
Mae is responsible for making its own determination as to the appropriate accounting treatment for
the transactions contemplated by this ASAP Plus Agreement; and (vii) it has neither made to nor
received from Fannie Mae any representation as to the appropriate accounting treatment for the
transactions contemplated by this ASAP Plus Agreement.

     (c) In addition, the Lender hereby represents and warrants by checking the appropriate box
below, that:

     ___ it is not a federally insured institution or an affiliate or subsidiary of a federally
insured institution; or

     ___ it is a federally insured institution or an affiliate or subsidiary of a federally
insured institution, and (i) the sale to Fannie Mae of the Mortgage Loans delivered pursuant to the
Agreement has been either (a) specifically approved by the Board of Directors of the Lender, as
reflected in the minutes of its meetings, or (b) approved by an officer of the Lender who was duly
authorized by the Board of Directors of the Lender to enter into such types of transactions, as
reflected in the minutes of its meetings, and (ii) this ASAP Plus Agreement, together with the
Collateral Documents and the Guides, constitutes the “written agreement” governing the Lender’s
sale to Fannie Mae of the Mortgage Loans delivered pursuant hereto and the Lender (or any successor
thereto) shall continuously maintain all components of such “written agreement” as an official
record.

13. Events of Default

     In the event that (i) the Lender fails to redeliver a Mortgage Loan within 60 days of its
related Purchase Date pursuant to the ASAP Sale Agreement or via Whole Loan Execution, (ii) Lender
materially breaches any representation or warranty made by it in the Agreement, (iii) the Lender
fails to comply (after one Business Day’s notice) with Section 7 hereof, (iv) the Lender fails to
comply with any other provision of this ASAP Plus Agreement, (v) the Lender defaults in the
payment, performance or observance of any term, condition or provision contained in any financing
agreement or other agreement for borrowed money, (vi) an Act of Insolvency occurs with respect to
the Lender, (vii) the Lender fails to maintain its status as an approved Fannie Mae
Seller/Servicer, (viii) the Lender is in default under any Collateral Document or any other
agreement between Fannie Mae and the Lender, or (ix) the Lender shall admit its inability to, or
its intention not to, perform any of its obligations hereunder or under any other financing
agreement or agreement for borrowed money (each an “Event of Default”):

8

 

     (a) Immediately upon the occurrence of any Event of Default, the Lender shall give notice to
Fannie Mae by telephone, promptly confirmed in writing, of the occurrence of an Event of Default
and specifying the details of such default.

     (b) The Lender acknowledges and agrees that an Event of Default shall constitute a breach of
each Collateral Document and shall entitle Fannie Mae to exercise all rights and remedies set forth
in such Collateral Documents.

     (c) Fannie Mae shall have, in addition to its rights hereunder and under the Collateral
Documents, any rights otherwise available to it under any agreement or applicable law, including
but not limited to the following:

          (i) At the option of Fannie Mae, exercised by written notice to the Lender (which option shall
be deemed to have been exercised, even if no notice is given, immediately upon the occurrence of an
Act of Insolvency), the Repurchase Date for each Mortgage Loan hereunder shall be deemed to have
immediately occurred on the date of the Act of Insolvency, and any pending transaction for which
Fannie Mae has not remitted payment to the Lender shall be deemed to be cancelled on the date of
the Act of Insolvency;

          (ii) If Fannie Mae exercises or is deemed to have exercised the option referred to in
subsection (i) of this Section, (A) Lender’s obligations hereunder to repurchase all Mortgage Loans
shall thereupon become immediately due and payable, (B) to the extent permitted by applicable law,
the Repurchase Price with respect to each such Mortgage Loan shall be increased by the aggregate
amount obtained by multiplying (x) the greater of the then-applicable Pricing Rate for such
Mortgage Loan or the sum of the Prime Rate and 3 percentage points (300 basis points) times (y) the
Repurchase Price for such Mortgage Loan as of the Repurchase Date as determined pursuant to
subsection (i) of this Section (decreased as of any day by either (1) any proceeds from the sale of
Mortgage Loans pursuant to subsection (iii)(A) of this Section, (2) any credit given by Fannie Mae
pursuant to subsection (iii)(B) of this Section, or (3) any Income delivered by Lender to Fannie
Mae) on a 360 day per year basis for the actual number of days during the period from and including
the date of the Event of Default giving rise to such option to but excluding the date of payment of
the Repurchase Price as so increased, and (C) Lender shall immediately deliver to Fannie Mae any
Income with respect to such Mortgage Loan then in Lender’s possession. In the event that Lender
repurchases all such Mortgage Loans, Fannie Mae, in its discretion, may elect to require the Lender
to redeliver such Mortgage Loans under the ASAP Sale Agreement, to the extent applicable;

          (iii) After one Business Day’s notice to the Lender (which notice need not be given if an Act
of Insolvency shall have occurred), Fannie Mae may (A) immediately sell, in a recognized market at
such price as Fannie Mae may reasonably deem satisfactory, any or all Mortgage Loans not then
redelivered pursuant to the ASAP Sale Agreement or via Whole Loan Execution and apply the proceeds
thereof to the aggregate unpaid Repurchase Price of such Mortgage Loans and any other amounts owing
by the Lender, or (B) in lieu of selling all or a portion of such Mortgage Loans, give the Lender
credit for such Mortgage Loans in an amount

9

 

equal to the most recent bid quotation provided by Fannie Mae as of such date, against the
aggregate unpaid Repurchase Price for such Mortgage Loans and any other amounts owing by Lender
hereunder; and

          (iv) Lender shall be liable for the amount of losses or damages suffered or incurred by Fannie
Mae in connection with or as a consequence of any Event of Default, including all reasonable legal
or other expenses, together with interest accruing daily thereon at a rate equal to the greater of
the Pricing Rate for the related Mortgage Loan on such day or the sum of the Prime Rate and 3
percentage points (300 basis points).

     (d) Lender’s obligation to pay Fannie Mae the Repurchase Price for each Mortgage Loan deter
mined as provided in this Section 13, together with any losses or damages, accrued interest, and
any other adjustments, penalties, fees or costs as a result of such Event of Default shall be
immediately due and payable.

14. Single Agreement

     Fannie Mae and the Lender acknowledge that, and have entered into and will enter into each
transaction hereunder in consideration of and in reliance upon the fact that, all deliveries of
Mortgage Loans hereunder constitute a single business and contractual relationship and have been
made in consideration of each other. Accordingly, each of Fannie Mae and the Lender agrees (i) to
perform all of its obligations hereunder in respect of each Mortgage Loan, (ii) that each of them
shall be entitled to set off mutual debts and claims hereunder, and (iii) that payments, deliveries
and other transfers made by either of them hereunder in respect of any Mortgage Loan shall be
deemed to have been made in consideration of payments, deliveries and other transfers in respect of
any other Mortgage Loans hereunder, and the obligations to make any such payments, deliveries and
other transfers hereunder may be applied against each other and netted. The Lender hereby
acknowledges and agrees that a default in the performance of any of its obligations hereunder in
respect of any Mortgage Loan shall constitute a default by it in respect of all Mortgage Loans and
all transactions between the parties under the Agreement.

15. Notices and Communications

     Unless another address is specified in writing by the party to whom any notice or other
communication is to be given, all notices or communications shall be in writing or confirmed in
writing and delivered at the respective addresses set forth in Annex I attached hereto.

16. Entire Agreement; Severability.

     This ASAP Plus Agreement (and any Collateral Documents incorporated herein) contains the
entire agreement between the Parties relating to the transactions contemplated by this ASAP Plus
Agreement and supersedes all previous understandings and agreements, whether written or oral,
between the Parties relating to these transactions. Each of the Lender and Fannie Mae acknowledge
that, in agreeing to enter into the Agreement, it has not relied on any representation, warranty,
marketing document, collateral contract or other assurance (except for those set out in this ASAP
Plus Agreement and any Collateral Documents incorporated herein) made by or on behalf of any other
party or any other person prior to the execution of this ASAP

10

 

Plus Agreement. This ASAP Plus Agreement may only be amended in writing executed by both the
Lender and Fannie Mae. In the event of any conflict between the provisions herein and the
provisions of any Collateral Document, the provisions herein shall prevail. Each provision herein
shall be treated as separate and independent from any other provision herein and shall be
enforceable notwithstanding the unenforceability of any such other provision or agreement.

17. Non-assignability; Termination; No Commitment of Funds

     (a) The rights and obligations of the parties under this ASAP Plus Agreement shall not be
assigned by either party without the prior written consent of the other party. A direct or indirect
change in control of the Lender or a merger of the Lender with another entity shall be deemed to be
an assignment of the Agreement. This ASAP Plus Agreement may be terminated by either party upon
giving written notice to the other, provided, however, that any such termination will not affect
any transaction outstanding as of the date of such termination, including the Lender’s obligation
to redeliver any Mortgage Loan to Fannie Mae pursuant to the provisions of Section 5 hereof.

     (b) Both Fannie Mae and the Lender recognize that it is neither the intent of the parties nor
of this ASAP Plus Agreement to provide a commitment of funds and that under no circumstances is
Fannie Mae obligated to accept deliveries of Mortgage Loans from the Lender hereunder. Each
transaction is subject to the approval of Fannie Mae in its absolute discretion.

18. Governing Law

     This ASAP Plus Agreement shall be governed by the laws of the District of Columbia without
giving effect to the conflict of law principles thereof.

19. Advertising and Distribution.

     Promotion, advertising, circulars, press releases, and other public statements or
representations concerning the terms of the Agreement may not be distributed or made without Fannie
Mae’s prior written consent. Any disclosure of the Agreement, in whole or in part, is also
prohibited, unless required by applicable law or regulation (in which case, prompt prior written
notice shall be given to Fannie Mae).

20. No Waivers, Etc.

     No express or implied waiver by Fannie Mae of any Event of Default or any other provision of
the Agreement shall constitute a waiver of any other Event of Default or other provision of the
Agreement and no exercise of any remedy hereunder by any party hereto shall constitute a waiver of
its right to exercise any other remedy hereunder. No modification or waiver of any provision of the
Agreement and no consent of any party to a departure herefrom shall be effective unless and until
such shall be in writing and duly executed by both of the parties hereto.

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IN WITNESS WHEREOF, the parties hereto have executed this As Soon As Pooled Plus Agreement as of
the date first written above.

FANNIE MAE

	 	 	 	 	 

	By:

	 	/s/ Renee Schultz
 

Renee Schultz

Vice President — Capital Markets Sales Desk
	 	 

NATIONSTAR MORTGAGE, LLC

	 	 	 	 	 

	By:

	 	/s/ Jay Bray
 

Jay Bray

Chief Financial Officer
	 	 

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ANNEX I

Wiring Instructions for As Soon As Pooled Plus

Wiring Instructions for transfers of funds from Lender to Fannie Mae:

	 	 	 

	          Bank

	 	FNMA NYC
	          ABA#

	 	021039500
	          Reference

	 	Early Funding Desk

Address for Lender:

	 	 	 

	                                                                      

	 	 
	                                                                      

	 	 
	                                                                      

	 	 
	          Attn:                                                    

	 	 

Address for Fannie Mae:

           4000 Wisconsin Avenue, NW

           Attn: Ms. Renee Schultz, Vice President, Capital Markets Sales Desk

           Washington, D.C. 20016-2899

FAX Number for DDF: 703-833-5559

Wire Instructions for transfers of funds to Lender:

NOTE — Pursuant to Fannie Mae internal procedures, the following Lender wire instructions
for payments from Fannie Mae should be sent separately to the Fannie Mae address listed above on
the Lender’s Letterhead.

	 	 	 	 	 

	                Bank

	 	                                                            
	 	 
	                ABA#

	 	                                                            
	 	 
	                Account #

	 	                                                            
	 	 
	                Additional Info

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