Document:

Master Agreement between Homestreet Bank and Fannie Mae

 Exhibit 10.27 
 [***] Indicates confidential material that has been omitted pursuant to a Confidential Treatment Request filed with the Securities and Exchange Commission. A complete copy of this agreement has been
separately filed with the Securities and Exchange Commission. 
 CONFIDENTIAL 

MASTER AGREEMENT ML02783 First Term 
 This Master Agreement between Fannie Mae and HomeStreet Bank (the “Lender”) governs the sale by Lender, and the purchase by Fannie Mae, of eligible residential mortgage loans (the
“Mortgages”). This Master Agreement includes all of the terms and conditions described in all of the exhibits, attachments, commitments and MBS Pool Purchase Contracts (“MBS Contracts”) attached or entered into as a part of this
Master Agreement. Additionally, the “Master Agreement Terms and Conditions” section of Fannie Mae’s Selling Guide (the “Selling Guide”), which is incorporated into this Agreement by this reference, outlines in more detail
the general terms and conditions of the Master Agreement and MBS Contracts and related terms and instructions. The execution of this Master Agreement requires compliance with all provisions and sections of this Master Agreement, including all MBS
Contracts, whole loan commitments, exhibits and attachments to this Master Agreement. 
 As a condition to Lender’s sale of Mortgages under
this Master Agreement, Lender and Fannie Mae must enter into the appropriate whole loan commitments or MBS Contracts, depending on whether Lender will be delivering Mortgages under one of Fannie Mae’s whole loan purchase programs (Negotiated or
Standard) or under Fannie Mae’s MBS program. Lender agrees to sell to Fannie Mae, beginning on the Effective Date of Delivery Term and ending on the Expiration Date of Delivery Term (as those terms are defined in Exhibit 1), Mortgages with an
aggregate outstanding principal balance equal to the Agreed Amount (as defined in Exhibit 1). 
 For whole loan deliveries, any loan-level price
adjustments (“LLPAs”) that are referenced in this Master Agreement, will be available no later than 30 days after Fannie Mae receives the executed Master Agreement from Lender. 
 Fannie Mae must receive the fully executed Master Agreement within ten business days of Lender’s receipt of this Master Agreement, or Fannie Mae may, at its option, declare this Master Agreement null
and void. This Master Agreement may be executed in one or more counterparts and all such counterparts shall be deemed to be one and the same document. This Master Agreement must be executed by Lender, Fannie Mae, and any person, firm, or entity
whose joinder is required under the terms of this Master Agreement sign (including a facsimile signature) The effective date of this Master Agreement is the later of (i) the date Fannie Mae receives the fully executed Master Agreement from
Lender or (ii) the effective date specified on Exhibit 1 hereto. 

  
 Master
Agreement ML02783 
 MA - 1 
 March 15, 2010 

 Lender hereby confirms, by checking the appropriate section below, that: 

 

			
	  
	  	It is not a federally-insured institution or an affiliate or subsidiary of a federally-insured institution.
		
	X	  	It is a federally-insured institution or an affiliate or subsidiary of a federally-insured institution. If Lender has checked this section, then Lender agrees to the representations
and warranties described in the “Master Agreement Terms and Conditions” section of the Selling Guide.

 Sincerely,

 FANNIE MAE 
  

			
	By:	 	 /s/ David Battany

		 	David Battany
		 	Director/Assistant Vice President

  

			
	Agreed, acknowledged and accepted.
	
	HOMESTREET BANK
		
	By:	 	 /s/ Curt Byers

	Name:	 	 Curt Byers

	Title:	 	 V.P. HOMESTREET BANK

	Date:	 	 3/19/2010

  
 Master
Agreement ML02783 
 MA - 2 
 March 15, 2010 

 EXHIBIT 1 
 TO MASTER AGREEMENT ML02783 Second Term 
  

			
	Lender Name	    	HomeStreet Bank
		
	Lender Number	    	20722-000-0
		
	Delivery Term:	    	Second
		
	Effective Date of Delivery Term:	    	April 1, 2010
		
	Expiration Date of Delivery Term:	    	March 31, 2012
		
	Agreed Amount for Delivery Term:	    	 $2,550,000,000.00 (Optional)

  
 Master
Agreement ML02783 
 MA - Exhibit 1 - 1 
 Amendment 9 
 March 15, 2011 

 MASTER AGREEMENT – GENERAL TERMS 
 The following Uniform provisions and defined terms/acronyms apply to all sections of the Master Agreement. 
 PART 1. UNIFORM PROVISIONS. 
  

	1.	Lender represents and warrants that Mortgages delivered pursuant to a Variance, Special Requirement or nonstandard MBS Contract term contained in this Master Agreement
comply with all provisions of the applicable Variance, Special Requirement or nonstandard MBS Contract term. 

  

	2.	Lender must enter all SFC(s) required by the Selling Guide, in addition to any additional SFC(s) specified in this Master Agreement. 

 

	3.	In addition to any additional LLPA(s) specified in this Master Agreement, Lender must pay all LLPA(s) required by the Selling Guide, unless otherwise specified.

  

	4.	Mortgages may be sold to Fannie Mae as cash deliveries or as MBS pool deliveries, unless otherwise specified. 

 

	5.	For a Mortgage to be included in an MBS pool, the origination date LTV may not exceed 100%, unless otherwise specified. 

 

	6.	Mortgages originated pursuant to a Variance must be first lien, conventional Mortgages, unless otherwise specified. 

 

	7.	Lender agrees not to use Fannie Mae’s name in any advertising distribution, publication or communication to any third party of any Variance or other provision of
this Master Agreement. 

  

	8.	If a provision of this Master Agreement permits a type of loan that has additional requirements per the Selling Guide (e.g., lender approval for cooperative share
loans), then those Selling Guide requirements still apply unless otherwise stated. 

  

	9.	Variance Mortgages may not be originated in combination with any other Variances contained in this Master Agreement without Fannie Mae’s prior written approval,
unless specifically permitted in a particular Variance. 

  

	10.	Unless otherwise specified, any Variance, Special Requirement or nonstandard MBS Contract may be amended or terminated with reasonable notice to Lender, which in many
cases will be at least 90 days, in accordance with the provisions of the Selling Guide. Additionally, Fannie Mae reserves the right to rescind or modify any of the terms of any Variance, Special Requirement or nonstandard MBS Contract in connection
with the renewal or extension of this Master Agreement or upon reasonable notice to Lender, unless otherwise specified. 

  
 Master
Agreement ML02783 
 MA – General Terms - 1 
 Amendment 9 
 March 15, 2011 

	11.	If Mortgages with IO features are eligible for origination under the terms of a Variance, then such IO Mortgages are subject to the IO eligibility requirements per the
Selling Guide, if more restrictive than the Variance, unless the Variance specifically provides that the Variance eligibility requirements supersede the Selling Guide requirements for IO Mortgages. 

 

	12.	Trademarks are the property of their respective owners. Fannie Mae trademarks are identified at:
www.fanniemae.com/legal/trademarks.jhtml?p=Legal&t=Trademarks 

 PART II. DEFINED TERMS AND ACRONYMS 

The defined terms and acronyms below apply to provisions of this Master Agreement (including Variances and Special Requirements), unless a term is
otherwise defined in a specific provision. This list supplements the list in “Exhibit 1: Master Agreement Terms and Conditions” section of the Master Agreement, and to the extent there is any inconsistency, the list below shall control.

  

					
	ARM:	 	adjustable-rate mortgage loan
	 	 	Additional ARM Definitions:
	 	 	ARM Type	 	 
	 	 	6/6 ARM	 	Standard Fannie Mae ARM plans with a six-month IFRP, followed by interest rate adjustments
every 6 months
	 	 	1/1 ARM	 	Standard Fannie Mae ARM plans with a one-year IFRP, followed by interest rate adjustments
every 12 months.
	 	 	3/1 ARM	 	Standard Fannie Mae ARM plans with a three-year IFRP, followed by interest rate
adjustments every 12 months.
	 	 	3/3 ARM	 	Standard Fannie Mae ARM plans with a three-year IFRP, followed by interest rate
adjustments every 36 months.
	 	 	5/1 ARM	 	Standard Fannie Mae ARM plans with a five-year IFRP, followed by interest rate adjustments
every 12 months.
	 	 	7/1 ARM	 	Standard Fannie Mae ARM plans with a seven-year IFRP, followed by interest rate
adjustments every 12 months.
	 	 	10/1 ARM	 	Standard Fannie Mae ARM plans with a 10-year IFRP, followed by interest rate adjustments
every 12 months.
	 	 	COFI ARM	 	Standard Fannie Mae ARM plans with interest rate adjustments tied to a “cost of
funds” index, as defined in the Glossary to the Selling Guide.
	 	 	LIBOR ARM	 	Standard Fannie Mae ARM plans with interest rate adjustments tied to the London Interbank
Offered Rate index, as defined in the Glossary to the Selling Guide.
	 	 	TREASURY ARM	 	Standard Fannie Mae ARM plans with interest rate adjustments tied to the Treasury Index,
as defined in the Glossary to the Selling Guide.
	All Standard Fannie Mae ARM Plans:	 	All standard Fannie Mae MBS ARM Plans, plus all standard plans available for
whole loan sale only, per the Selling Guide
	AUS	 	automated underwriting system
	bp:	 	basis point
	CLTV:	 	combined loan-to-value ratio
	Condo:	 	Unit in a condominium project
	Coop:	 	Unit in a cooperative project
	Coop Loan:	 	Loan secured by a coop; cooperative share
loan

  
 Master
Agreement ML02783 
 MA – General Terms - 2 
 Amendment 9 
 March 15, 2011 

					
	COR:	 	cash-out refinance transaction
	DO®:	 	Desktop Originator®
	DTI ratio:	 	Total “debt-to-income” ratio
	DU®:	 	Desktop Underwriter®
	EA:	 	Fannie Mae’s “Expanded Approval®” mortgage product
	FA-ARM:	 	Fully amortizing ARM
	FA-FRM:	 	Fully amortizing FRM
	FICO:	 	credit score; the classic FICO score developed by Fair, Isaac, and Company,
Inc.
	Form 1003:	 	Uniform Residential Loan Application
	Form 1004:	 	Uniform Residential Appraisal Report
	Form 1073:	 	Individual Condominium Unit Appraisal Report
	FRM:	 	fixed-rate mortgage loan
	Guides:	 	The Selling Guide and the Servicing Guide
	HCLTV:	 	home equity combined loan-to-value ratio
	HUD-1:	 	HUD-1 uniform settlement statement
	IFRP:	 	initial fixed-interest rate period of an ARM
	IO:	 	interest-only feature
	IO-FRM:	 	FRM with IO
	IO-ARM:	 	ARM with IO
	LCOR:	 	limited cash-out refinance transaction
	LLPA:	 	loan-level price adjustment
	LPMI:	 	lender-purchased mortgage insurance
	LTV:	 	loan-to-value ratio
	MCM:	 	Fannie Mae’s MyCommunityMortgageTM products
	MI:	 	private primary mortgage insurance
	MSSC:	 	The “Mortgage Selling and Servicing Contract” executed by and
between Fannie Mae and Lender, unless otherwise specified
	OPB:	 	original principal balance
	P&I:	 	principal and interest
	PITI:	 	principal, interest, taxes, and insurance
	PIW:	 	Property Inspection Waiver, which is a fieldwork recommendation offered by
Fannie Mae through DU and the Automated Property Service (APS) that results in an offer to waive the property inspection and appraisal for certain lower risk transactions
	Selling Guide:	 	Fannie Mae’s Selling Guide, as modified, amended or supplemented from
time to time
	Servicing Guide:	 	Fannie Mae’s Servicing Guide, as modified, amended or supplemented
from time to time
	SFC:	 	Special Feature Code
	SFR:	 	Single-family residence
	Standard MI:	 	MI at the level required by the Selling Guide at the time of delivery of the
Mortgage
	TPO:	 	Third party originations: includes both Broker and Correspondent
loans
	UPB:	 	unpaid principal balance
	Variance Mortgage	 	As used in any Variance, mortgages delivered pursuant to such
Variance

  
 Master
Agreement ML02783 
 MA – General Terms - 3 
 Amendment 9 
 March 15, 2011 

 VARIANCES 
 TABLE OF CONTENTS 
  

			
	VAR #	  	Title
	 	 
	
VAR 1
	  	HomeStyle Renovation Mortgages - DISCONTINUED
	 	 
	
VAR 2
	  	Qualification of Loans with Non-Occupant Co-Borrowers
	 	 
	
VAR 3
	  	Energy Efficient Mortgages (EXPIRING) - DISCONTINUED
	 	 
	
VAR 4
	  	HomePath Mortgages - DISCONTINUED
	 	 
	
VAR 5
	  	HomePath Renovation Mortgages - DISCONTINUED
	 	 
	
VAR 6
	  	Deferred Student Loan Obligations (03/10 modified) - DISCONTINUED
	 	 
	
VAR 7
	  	HomeStyle Renovation Escrow (03/10) - DISCONTINUED
	 	 
	
VAR 8
	  	Brigham Young University Residential Leasehold Estates in Hawaii (03/10) -
DISCONTINUED
	 	 
	
VAR 9
	  	Investor Channel Bulk Transaction Delivery Variance Deal Factory No. 20917; Cash
Commitment Nos: 817025, 817026, 817027, 817028, 817029, 817030, 817031, 817032, 817033, and 817034. - DISCONTINUED
	 	 
	
VAR 10
	  	HomePath and HomePath Renovation Mortgages (EXPIRING) - DISCONTINUED
	 	 
	
VAR 11
	  	HomePath and HomePath Renovation Mortgages (EXPIRING) - DISCONTINUED
	 	 
	
VAR 12
	  	HomePath and HomePath Renovation Mortgages
	 	 
	
VAR 13
	  	HomeStyle Renovation Mortgages (04/2010)

  
 Master
Agreement ML02783 
 VAR/TOC - 1 
 Amendment 9 
 March 15, 2011 

 VAR 2 Qualification of Loans with Non-Occupant Co-Borrowers 

 

			
	  

Title (Version):
	  	  

Qualification of Loans with Non-Occupant Co-Borrowers (05/2010)

	  

Description:
	  	  
 Lender may sell Mortgages in which a non-occupying co-borrower’s income was considered as acceptable qualifying income without requiring that the occupant-borrower also qualify based solely on the
occupant borrower’s income, subject to the following:

  

									
	  

ELIGIBILITY REQUIREMENTS
  

	  

Eligibility: General
	 	  
 •
	 	  

Mortgages must meet the following eligibility requirements:

	 	 	 	  
 •
	 	  
 Standard per Selling Guide except as provided below.

	  

Maximum
 LTV/CLTV/HCLT
(%)
	 	  
 80/80/80

	  

Minimum Representative FICO Credit Score
	 	  
 720

	  
 Loan Purpose
	 	  
 •
	 	  

Purchase

	 	 	  
 •
	 	  
 LCOR

	  
 Occupancy/Number of Units
	 	  
 •
	 	  

Primary Residence

	 	 	  
 •
	 	  
 1-unit

	  
 Mortgage Products/Features (including Amortization Type and Term)
	 	  
 •
	 	  

Fully-amortizing (FA) Mortgages:

	 		 	  
 •
	 	  

FA-FRMs: Standard per Selling Guide, with terms up to 30 years.

	 		 	  
 •
	 	  

FA-ARMs: Standard per Selling Guide, with terms up to 30 years.

	 	 	 	 	 	 	  
 •
	  	  
 See eligible FA-ARM plans in the “ARM Plan Numbers” section below.

	  
 ARM Plan Numbers
	 	  
 •
	 	  

30-Year FA-ARMs (fully amortizing):

	 	 		 	  
 •
	 	  

7/1 ARMs: Plans 750, 751

	 	 	 	 	  
 •
	 	  
 10/1 ARMs: Plans 1423,1437

	  

UNDERWRITING/DOCUMENTATION
  

	  

Required Underwriting Method
	 	  
 Manual underwriting (see Conditions below)

	  

Manual Underwriting: Conditions
	 	  
 Per Selling Guide, except as modified by this Variance.

	  

Total Debt-to-Income (“DTI”) Ratio(s)
	 	  
 Maximum: 43% combined, for all borrowers.

	  
 Non-Occupant Co-Borrower
	 	  
 •
	 	  

Income allowed for qualification

	 	 	  
 •
	 	  
 Must be a member of borrower’s immediate family.

	  

DELIVERY REQUIREMENTS
  

	  

Combining with Other Variances
	 	  
 Lender may combine Variance Mortgages with other variances as long as the most conservative underwriting and eligibility

  
 Master
Agreement ML02783 
 VAR 2 - 1 
 Amendment 3 
 July 20, 2010 

									
	 	 	requirements apply.

  
 Master
Agreement ML02783 
 VAR 2 - 2 
 Amendment 3 
 July 20, 2010 

	VAR 12	HomePath and HomePath Renovation Mortgages 

  

			
	  

Title (Version):
	  	  

HomePath and HomePath Renovation Mortgages (02/2011)

	  
 Description:
	  	  
 Lender may sell Mortgages originated under Fannie Mae’s HomePath (“HomePath Mortgages”) and HomePath Initiative secured by properties that require moderate renovation (“HomePath
Renovation Mortgages”). HomePath Renovation Mortgages are not HomeStyle® Renovation mortgages. The
only HomeStyle Renovation requirements that apply to HomePath Renovation Mortgages are those relating to the actual renovation process, as described in the “HomeStyle Renovation Requirements: Limitation of Applicability”
section below. All eligibility, underwriting, mortgage origination, delivery and pricing requirements applicable to HomePath and HomePath Renovation Mortgages are per this Variance.

 
 HomePath and HomePath Renovation Mortgages are subject to the following terms and
conditions:

  

	PART A.	HomePath Mortgages 

  

							
	  
 ELIGIBILITY REQUIREMENTS
  

	  
 Eligibility: General
	  	  
 •
	  	  

Mortgages must meet the following eligibility requirements:

	  	 	  	  
 •
	 	  
 Standard per Desktop Underwriter (“DU”) except as provided below.

	  
 Maximum
 LTV/CLTV/HCLTV (%)
	  	  
 •
	  	  

Maximum LTV/CLTV/HCLTV for Mortgages with interest-only features (“IO”) is per Selling Guide.

	  	  
 •
	  	  

Maximum LTV/CLTV/HCLTV for fully amortizing Mortgages (“non-IO”) is per Selling Guide, except as follows:

	  		  	  
 •
	 	  
 90/90/90
for 1-unit investment properties.

	  		  	  
 •
	 	  
 80/80/80
for 2-unit investment properties.

	  		  	  
 •
	 	  
 75/75/75
for 2-4 unit investment properties where the borrower owns 5-10 financed properties as described in the “Eligibility Matrix” on the efanniemae.com website.

	  	  

* Max CLTV is 105% if the mortgage is part of a Community Seconds transaction.

	  	  
 •
	  	  

All high balance Mortgages (including 1-4 unit investment properties) are subject to minimum credit score and maximum LTV/CLTV/HCLTV requirements per
Selling Guide.

	  	  

•
	  	  
 MCM mortgages are not eligible.

	  
 Loan Purpose
	  	  
 Purchase only.

	  
 Mortgage
 Products/Features
 (including Amortization
	  	  

•
	  	  
 All standard FRM and ARM products per Selling Guide are eligible.

  
 Master
Agreement ML02783 
 VAR 12 - 1 
 Amendment 9 
 March 15, 2011 

							
	  
 Type and Term)
	 	  
 •
	 	  
 Unless otherwise provided in this Variance, products must meet the standard eligibility requirements for the specific mortgage type, property type or feature per Selling Guide, for example: 

	 	 		 	  
 •
	 	  
 IO
features

	 	 		 	  
 •
	 	  

Cooperative share loans

	 	 		 	  
 •
	 	  

Manufactured housing

	 	 		 	  
 •
	 	  

High-balance Mortgages

	  
 Eligible ARM
Plan Numbers
	 	  

Per Selling Guide, as applicable to the standard eligibility requirements for the specific mortgage type.

	  
 Minimum FICO
	 	  
 •
	 	  

Per Selling Guide, except as follows:

	 	 		 	  
 •
	 	  
 660 for non-IO Mortgages with LTVs over 80% (except for high-balance
Mortgages); and 

	 	 		 	  
 •
	 	  
 720 for
all IO Mortgages.

	 	 	  
 •
	 	  
 Per Selling Guide for high-balance Mortgages

	  
 Mortgaged Property
	 	  
 •
	 	  

Mortgages must be secured by properties that are acquired from Fannie Mae and designated by Fannie Mae on the www.homepath.com website as eligible
for HomePath financing.

	 	 	  
 •
	 	  
 Lender must document the file with appropriate pages printed from www.homepath.com showing that the property was eligible for HomePath financing.

	  

Subordinate Financing
	 	  
 Permitted per Selling Guide.

	  

UNDERWRITING/DOCUMENTATION
  

	  

Required Underwriting Method
	 	  
 DU. See additional provisions in the “Desktop Underwriter” section below.

	  

Interested Party Contributions (“IPC”)
	 	  
 •
	 	  

Maximum IPC:

	 		 	  
 •
	 	  

Notwithstanding the Selling Guide requirements, for principal residences with LTVs (or CLTVs if applicable) greater than 90%: 6.00% of the Contract Sales
Price (see “Determination of Property Value” section below). 

	 	 	 	  
 •
	 	  
 Investment properties and second homes: standard per Selling Guide.

	  

PROPERTY VALUATION/APPRAISAL REQUIREMENTS

 

	  
 Required Appraisal Type
	 	  
 •
	 	  

No appraisal is required. If an appraisal is obtained by Lender or any party other than the borrower, as expressly provided below, then the mortgage is
ineligible for HomePath financing.

	 	 	  
 •
	 	  
 Notwithstanding the Selling Guide, Lender is not required to represent and warrant the value or the condition of the property.

  
 Master
Agreement ML02783 
 VAR 12 - 2 
 Amendment 9 
 March 15, 2011 

							
	 	 	  
 •
	 	  
 If the borrower, at its option, chooses to obtain an appraisal, then:

	 	 		 	  
 •
	  	  
 The
borrower must order the appraisal from an appraiser selected by the borrower (and not one recommended by Lender), and the appraisal must be paid for by the borrower outside of the loan transaction.

	 	 		 	  
 •
	  	  
 Lender
must not request a copy of the appraisal, but if one is provided by the borrower then it must be included in the loan file with a note that the appraisal was ordered by the borrower outside of the loan transaction and was not reviewed or approved by
Lender.

	 	 		 	  
 •
	  	  
 The
property value shown on the appraisal will not impact the LTV calculation for purposes of this Variance.

	 	 	 	 	  
 •
	  	  
 Lender must inform the borrower that the purpose of the borrower-ordered appraisal and its contents are for the use and information of the borrower only, and will not be considered for purposes of the
loan transaction.

	  

Determination of Property Value
	 	  
 Property value for purposes of loan delivery and for determining LTV/CLTV/HCLTV is the sales price of the property as evidenced by the sales contract between Fannie Mae and the buyer/borrower
(“Contract Sales Price”).

	  

MORTGAGE INSURANCE/CREDIT ENHANCEMENT

 

	  

Mortgage Insurance Coverage (“MI”)
	 	  
 MI is not required, provided that at delivery Mortgages with LTVs over 80% will be subject to the applicable LLPAs per Attachment 1.

	  

DESKTOP UNDERWRITER
  

	  

Required Recommendation Levels
	 	  
 •
	 	  

Any of the
following:

	 		 	  
 •
	  	  

Approve

	 		 	  
 •
	  	  

EA-I

	 	  
 •
	 	  

Requires an “Eligible” recommendation. “Ineligible” recommendations are permitted if only reason for ineligibility
is:

	 		 	  
 •
	  	  
 LTV
greater than 85% for non-IO Mortgages secured by 1- unit investment properties; or

	 	 	 	  
 •
	  	  
 LTV greater than 75% for non-IO Mortgages secured by 2- unit investment properties.

	  

Documentation Levels
	 	  
 Must use documentation levels issued by DU, except for the level of fieldwork recommendation.

	  
 DU Messaging
	 	  
 •
	 	  

Lender may disregard the following DU messages, provided that the Mortgage complies with all requirements of this Variance:

	 	 	 	 	  
 •
	  	  
 Any message relating to the 1-unit investment property

  
 Master
Agreement ML02783 
 VAR 12 - 3 
 Amendment 9 
 March 15, 2011 

							
	 	 	 	 	 	 	receiving an “Ineligible” recommendation due to an LTV/CLTV/HCLTV greater than 85%, per “Required Recommendation Levels”
section above;
	 	 		 	  
 •
	 	  
 Any
message relating to the 2-unit investment property receiving an “Ineligible” recommendation due to an LTV/CLTV/HCLTV greater than 75%, per “Required Recommendation Levels” section above;

	 	 		 	  
 •
	 	  
 Any
message relating to amount of MI required;

	 	 		 	  
 •
	 	  
 Any
message that says the maximum allowable IPC has been exceeded on a principal residence with LTV or CLTV over 90%;

	 	 		 	  
 •
	 	  
 Any
message related to the level of fieldwork recommendation; and

	 	 		 	  
 •
	 	  
 Any
message that says the property value estimate appears to have an excessive rate of appreciation based on analysis on a recent sale.

	  
 Limited Waiver of Representations and Warranties
	 	  
 Mortgages receiving an “Approve” or “EA” recommendation are eligible for the limited waiver of underwriting representations and warranties provided the Mortgage complies with all
applicable terms of the limited waiver per the Selling Guide and this Variance.

	  
 DU Submission Instructions
	 	  
 HomePath Mortgages must not be submitted to DU as MyCommunityMortgages.

	  

PROJECT APPROVAL AND REQUIREMENTS
  

	  
 Project Eligibility
	 	  
 Lender is not required to warrant that the condominium, cooperative or PUD project meets Fannie Mae’s project eligibility criteria.

	  
 Project Type Code
	 	  
 •
	 	  
 Lender must utilize the following Project Type Codes at the time of delivery for all HomePath Mortgages secured by a property in a condominium project, cooperative project, or planned unit development
where no project review is performed:

	 	 		 	  
 •
	 	  
 V -
for properties in a condominium project,

	 	 		 	  
 •
	 	  
 2 -
for properties in a cooperative project, and

	 	 		 	  
 •
	 	  
 E -
for properties in a planned unit development.

	 	 	  
 •
	 	  

As a reminder, a Project Type Code of G would be used at the time of delivery for all Mortgages secured by a property that is not located in
a condominium project, cooperative project, or planned unit development.

	  
 Insurance
	 	  
 Lender must confirm that the project has adequate hazard, flood, and liability coverage in place and verify the existence of fidelity insurance coverage.

	  
 ADDITIONAL REQUIREMENTS
  

	  
 Refinance of HomePath
	 	  

HomePath Mortgages originated in accordance with
these

  
 Master
Agreement ML02783 
 VAR 12 - 4 
 Amendment 9 
 March 15, 2011 

							
	Mortgages	 	 requirements are not eligible for refinance under Fannie Mae’s Refi PlusTM.

	  

ORIGINATION CHANNEL REQUIREMENTS
  

	  
 Eligible Channel(s)
	 	  

All

	  
 PRICING
  
	 	 
	  
 MBS
	 	  
 •
	 	  

Base guaranty fee is per MBS Contract for applicable mortgage product (“Base Pricing”).

	 	  
 •
	 	  
 See applicable LLPAs in “Loan-Level Price Adjustment(s)” section below.

	  
 Whole Loans
	 	 •
	 	  

Current pricing will be provided at time Mortgages are committed for sale (“Base Pricing”).

	 	  
 •
	 	  
 See applicable LLPAs in “Loan-Level Price Adjustment(s)” section below.

	  
 Loan-Level Price Adjustment(s) (“LLPA”)
	 	  
 •
	 	  

In addition to applicable Base Pricing, HomePath Mortgages are subject to the following LLPAs:

	 	 	 	  
 •
  
 •
	 	  
 LLPAs per Attachment 1: and
  
 All LLPAs per the Selling Guide per the “Loan-Level Price Adjustment (LLPA) Matrix and Adverse Market Delivery Charge (AMDC) Information” on efanniemae.com with the exception of investment
property (see Attachment 1 for LLPAs assessed on investment properties).

	  
 Pricing Changes
	 	  
 Fannie Mae reserves the right to change any pricing related to HomePath Mortgages with 60 days prior notice to Lender.

	  
 DELIVERY REQUIREMENTS
  
	 	 
	  
 Special Feature Code(s) (“SFC”): Specific to Variance Mortgages
	 	  

057- for all HomePath Mortgages

	  
 Special Feature Code(s) (“SFC”): Other Instructions
	 	  
 •
	 	  
 All standard per Selling Guide, including:

	 		 	  
 •
	 	  
 118
(for first Mortgages originated in conjunction with Community Seconds transactions); and

	 	 	 	  
 •
	 	  
 062 (Expanded Approval Mortgages) - for all HomePath Mortgages that receive an EA-I recommendation from DU.

	  
 Mortgage Insurance (MI) Code
	 	  

MI Code 98 for Mortgages over 80% LTV.

	  
 Execution Options
	 	  

Both whole loan and MBS executions are available.

	  
 Whole Loan Deliveries
	 	  

Lender must use eCommittingTM.

	  
 Combining with Other Variances
	 	  

Lender may NOT combine HomePath Mortgages with other variances.

  
 Master
Agreement ML02783 
 VAR 12 - 5 
 Amendment 9 
 March 15, 2011 

					
	  

Housing Goals Data
	 	  
 •
	  	  
 Lender is required to report all applicable Housing Goals data. If no appraisal is obtained, then Lender should use the information from the property description on
www.homepath.com.

	 	  
 •
	  	  
 For
investment properties occupied by renters, Lender must report the current rental income at delivery, even if the rental income was not used to qualify the borrower.

	 	  
 •
	  	  
 If the
property is vacant and rental data is unavailable, Lender must deliver the loans as “missing” for the relevant housing goals fields, and subsequently contact their Account Team to submit a Housing Goals Data Waiver Request for the missing
fields.

	  
 Selling
Representations and Warranties
	 	  

Lender makes all selling representations and warranties per the Selling Guide, as modified by this Variance.

	  

Effective Date for Sale of Variance Mortgages
	 	  
 This Variance will be effective for whole loans purchased on or after February 1, 2011 and for loans delivered into MBS pools with issue dates on or after February 1,
2011.

 PART B. HomePath Renovation Mortgages 

HomePath Renovation Mortgages are subject to the terms and conditions in Part A for HomePath Mortgages above, except as follows: 

 

							
	  
 ELIGIBILITY REQUIREMENTS
  

	  
 Maximum LTV/CLTV/HCLTV (%)
	 	  
 •
	 	  

Maximum LTV/CLTV/HCLTV are the same as applicable to HomeStyle Renovation mortgages, except: 

	 		 	  
 •
	  	  
 97/97/97
for 1 -unit principal residence.*

	 		 	  
 •
	  	  
 85/85/85
for 1-unit investment properties

	 		 	  
 •
	  	  
 75/75/75
for 2-4 unit investment properties

	 	  

*Max CLTV is 105% if the mortgage is part of a Community Seconds transaction.

	  

Property Types
	 	  
 •
	 	  
 When the security property is a unit in a condominium (or cooperative) project, the project must be one for which the proposed renovation work is permissible under the bylaws of the owners’
association (or cooperative corporation) or one for which the owners’ association (or cooperative corporation) has given written approval for the renovation work. The renovation work for a condominium or cooperative unit must be limited to the
interior of the unit (including the installation of fire walls in the attic).

	 	  
 •
	 	  
 Manufactured homes are ineligible.

	  

Mortgage Products/Features
	 	  
 •
	 	  

Eligible:

	 	 	 	  
 •
	  	  
 All standard fully amortizing FRMs and 30-year ARM

  
 Master
Agreement ML02783 
 VAR 12 - 6 
 Amendment 9 
 March 15, 2011 

							
	(including Amortization Type and Term)	 	 	 	 	 	products with initial fixed rate periods of at least 3 years per Selling Guide, including
high-balance mortgages.
	 	 	  
 •
	 	  

Ineligible:

	 	 		 	  
 •
	 	  
 Mortgages
with interest-only features 

	 	 		 	  
 •
	 	  
 Mortgages
with original terms over 30 years

	 	 	 	 	  
 •
	 	  
 ARMs with initial fixed rate periods less than 3 years

	  

Eligible ARM Plan Numbers
	 	  
 Per Selling Guide (fully amortizing 30-year ARMs with initial fixed rate periods of at least 3 years), as applicable to the standard eligibility requirements for the specific mortgage
type.

	  
 Mortgaged Property
	 	  
 •
	 	  

Mortgages must be secured by properties that are acquired from Fannie Mae and designated by Fannie Mae on www.homepath.com website as eligible for
HomePath Renovation financing.

	 	 	  
 •
	 	  
 Lender must document the file with appropriate pages printed from www.homepath.com showing that the property was eligible for HomePath Renovation financing.

	  

UNDERWRITING/DOCUMENTATION
  

	  

Interested Party Contributions(“IPC”)
	 	  
 •
	 	  

Maximum IPC:

	 	 	 	  
 •
	 	  
 Notwithstanding the Selling Guide requirements, for principal residences with LTV (or CLTV if applicable) greater than 90%: 6.00% of the Contract Sales Price (see “Determination of Property
Value” section below).

	  

ADDITIONAL BORROWER ELIGIBILITY
  

	  

Eligible Borrower: Renovation
	 	  
 Borrower must be an individual (for-profit or non-profit investors and local government agencies are not eligible borrowers).

	  

PROPERTY VALUATION/APPRAISAL REQUIREMENTS

 

	  

Required Appraisal Type
	 	  
 Lender must obtain an “as-completed” full appraisal.

	  
 Determination of Property Value
	 	  
 •
	 	  

Property value for purposes of loan delivery and for determining LTV/CLTV/HCLTV shall be the lesser of:

	 	 		 	  
 •
	 	  
 the
“as completed” appraised value; or

	 	 	 	 	  
 •
	 	  
 the sum of the sales price of the property as evidenced by the sales contract between Fannie Mae and the buyer/borrower (“Contract Sales Price”) and the total renovation costs (which include the
renovation costs and all allowable fees and charges).

	  

RENOVATION REQUIREMENTS
  

	  

HomeStyle Renovation Requirements: Limitation
	 	  
 •
	 	  
 Lender is responsible for managing and monitoring the completion of the renovation work. All requirements

  
 Master
Agreement ML02783 
 VAR 12 - 7 
 Amendment 9 
 March 15, 2011 

									
	of Applicability	 	 	 	applicable to Fannie Mae’s HomeStyle Renovation mortgages relating to
the actual renovation process apply, including holdbacks, renovation escrow, disbursement, contingency reserve, change orders, sweat equity and insurance, except as otherwise specified in this Variance, the HomePath Documents or as described
below:
	 	 		 	  
 •
	 	  

Completion Date. The renovations must be completed within 6 months of the closing date.

	 	 		 	  
 •
	 	  

Total Cost. The total renovation costs may not exceed the lesser of 35% of the “as completed” appraised value or
$35,000.00.

	 	 		 	  
 •
	 	  

No Recourse. If the HomePath Renovation Mortgage becomes delinquent during the renovation period, there is no automatic recourse to Lender as there
is for HomeStyle Renovation mortgages, and Lender is not required to code the HomePath Renovation Mortgage with SFC “001.” However all of Lender’s standard selling representations and warranties apply to HomePath Renovation
Mortgages.

	 	 		 	  
 •
	 	  

Mortgage Payments During Renovation Period. Lender may not escrow for any mortgage payments that may come due during the renovation
period.

	 	 		 	  
 •
	 	  

Multiple Contractors. Borrower may use more than one contractor, provided that all HomeStyle Renovation requirements related to the
contractor apply to each contractor.

	 	 		 	  
 •
	 	  

Contingency Reserve. Contingency reserve per HomeStyle Renovation requirements is mandatory for

	 	 		 		 	  
 •
	 	  
 all
Mortgages with LTVs of 95% or more, and

	 	 		 		 	  
 •
	 	  
 all
Mortgages secured by 2-4 unit properties, regardless of LTV.

	 	 		 	  
 •
	 	  

Do-it-yourself Projects. “Do-it-yourself” borrower projects are allowed per standard HomeStyle Renovation guidelines, except the
maximum LTV/CLTV is 75%.

	 	 		 	  
 •
	 	  

Verification of Completion. Lender must provide Fannie Mae with verification of completion of the renovation upon request of Fannie
Mae.

	 	 		 	  
 •
	 	  

No Modification of Loan Amount. The Mortgage may not be modified to change the balance based on change orders or increases to the construction
contract.

	 	 	 	 	  
 •
	 	  
 SFCs. Lender should NOT use HomeStyle Renovation SFC “215” (see applicable SFCs in “Special Feature Code(s) (“SFC”): Specific to Variance Mortgages” section
below).

	  

DESKTOP UNDERWRITER
  

	  
 Required
 Recommendation Levels
	 	  
 •
	 	  

Any of the following:

	 		 	  
 •
	 	  

Approve

	 	 	 	 	  
 •
	 	  
 EA-I

  
 Master
Agreement ML02783 
 VAR 12 - 8 
 Amendment 9 
 March 15, 2011 

									
	 	 	  
 •
	 	  
 Requires “Eligible” recommendation. “Ineligible” recommendations are permitted if the only reason for ineligibility is one of the following:

	 	 		 	  
 •
	 	  

LTV/CLTV/HCLTV greater than 95% for a 1-unit principal residence.

	 	 	 	 	  
 •
	 	  
 LTV greater
than 75% for a 1-unit investment property, provided the LTV complies with the maximum LTV stated above. (CLTV and HCLTV for 1-unit investment properties currently at 85% for HomeStyle Renovation in DU.)

	  

Documentation Levels
	 	  
 Must use documentation levels issued by DU.

	  
 DU Data Entry Requirements
	 	  
 •
	 	  

For all transactions other than 2-4 unit investment properties, the renovation costs must be entered in Line b of Section VII (Details of Transaction) on
the loan application.

	 	 	  
 •
	 	  
 For 2-4 unit investment properties, Lender should not enter the renovation costs on Line b or DU will issue an Out of Scope recommendation. For these transactions, the sum of the sales price and the
renovation costs must be entered in Line a.

	  
 DU Messaging
	 	  
 •
	 	  

Lender may disregard the following DU messages, provided that the Mortgage complies with all requirements of this Variance:

	 	 		 	  
 •
	 	  

Message requiring Lender to verify the cost of improvements does not exceed 50% of the as-completed appraised value (see the “HomeStyle Renovation Requirements: Limitation of
Applicability” section above);

	 	 		 	  
 •
	 	  

Any message relating to amount of MI required; and

	 	 	 	 	  
 •
	 	  
 Any message that says the maximum allowable IPC has been exceeded on a principal residence with LTV over 90%.

	  

LOAN AND LEGAL DOCUMENTATION
  

	  
 Legal Documents: Renovation
	 	  
 •
	 	  

Lender must use the following (“HomePath Documents”):

	 	 		 	  
 •
	 	  

HomePath Maximum Mortgage Worksheet

	 	 		 	  
 •
	 	  

HomePath Renovation Loan Agreement 

	 	 		 	  
 •
	 	  

HomeStyle Completion Certificate (Form 1036) - Lender must add “HomePath Renovation” in the “Other” category in the Loan products box
of Form 1036

	 	 		 	  
 •
	 	  

Appraisal Update and/or Completion Report (Form I004D)

	 	 	  
 •
	 	  
 In addition to the mandatory HomePath Documents listed above, Lender at its option may use other model HomeStyle documents (e.g., Lien Waiver, Contractor Profile Report, Change Order Request)
provided that the types of transactions and the types of lenders making the HomePath Renovation Mortgage may be subject to a variety of laws and regulations, so it may be necessary to modify this document for use
by

  
 Master
Agreement ML02783 
 VAR 12 - 9 
 Amendment 9 
 March 15, 2011 

									
	 	 	 	 	Lender or in particular
transactions.
	  

ADDITIONAL LENDER REQUIREMENTS
  

	  

HomeStyle Approval
	 	  
 Lender must be approved to sell HomeStyle Mortgages to Fannie Mae.

	  

ADDITIONAL REQUIREMENTS
  

	  

Servicing Transfers: Renovation
	 	  
 Lender cannot transfer servicing of HomePath Renovation Mortgages until the renovation is complete.

	  

DELIVERY REQUIREMENTS
  

	  

Special Feature Code(s) (“SFC”): Specific to Variance Mortgages
	 	  
 058 - for all HomePath Renovation Mortgages

	  
 Special Feature Code(s) (“SFC”): Other Instructions
	 	  
 •
	 	  

All standard per Selling Guide, including:

	 		 	  
 •
	 	  

118 (for first Mortgages originated in conjunction with Community Seconds transactions); or

	 	 	 	 	  
 •
	 	  
 062 (Expanded Approval Mortgages) - for all HomePath Renovation Mortgages that receive an EA-I recommendation from DU.

  
 Master
Agreement ML02783 
 VAR 12 - 10 
 Amendment 9 
 March 15, 2011 

 Attachment 1 

Pricing 
  

	(1)	LLPAs applicable to HomePath Mortgages and HomePath Renovation Mortgages with no MI, in addition to all applicable LLPAs per Selling Guide and this Attachment 1:

  

			
	 LTV
	  	 LLPA

(No MI)

	80.01-85%	  	[***]%
	85.01-90%	  	[***]%
	90.01-95%	  	[***]%
	95.01-97%	  	[***]%

  

	(2)	LLPAs applicable to HomePath Mortgages and HomePath Renovation Mortgages secured by investment properties. This is in lieu of the LLPA applicable to mortgages secured
by investment properties per the Selling Guide, but is in addition to all other applicable LLPAs per Selling Guide and this Attachment 1: 

  

											
	 Representative

Credit Scores
	  	 <=70.00
	  	 70:01 — 75.00%
	  	 75.01 — 80.00%
	  	 80.01 — 90.00%
	  	 SFC

	 > = 740
	  	[***]%	  	[***]%	  	[***]%	  	[***]%	  	057 and 058
	 <740
	  	[***]%	  	[***]%	  	[***]%	  	[***]%	  	057 and 058

  
 Master
Agreement ML02783 
 VAR 12 - 11 
 Amendment 9 
 March 15, 2011 

[***] Certain information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested
with respect to the omitted portions. 

 VAR 13 HomeStyle Renovation Mortgages (04/2010) 

 

			
	Title (Version):    	  	HomeStyle
® Renovation Mortgages (04/2010)
	Description:	  	Lender is approved to sell HomeStyle Renovation Mortgages per the Selling
Guide.

  

			
	  
 DELIVERY REQUIREMENTS
  

	Special Feature Code(s) (“SFC”): Specific to
Variance Mortgages	  	
•  “215”
  

•  “001”
  

Note: Once renovation has been completed, Lender must contact its Fannie Mae Customer Account Team to remove SFC “001.”

	Special Feature Code(s) (“SFC”): Other
Instructions    	  	To have the recourse obligation (identified by SFC “001”) removed from any
Mortgage, Lender must provide its Fannie Mae Senior Account Manager or Customer Account Risk Manager with documentation showing that renovation related to such Mortgage has been completed.
	  

UNDERWRITING/DOCUMENTATION
  

	Contingency Reserve	  	Borrower shall be permitted to maintain a 10% contingency reserve held in a depository
account with the Lender, in lieu of having a renovation escrow account. However, if the reserve is held in borrower’s personal account, the Lender must place a hold on said funds until such time as the renovation is completed pursuant to the
Selling Guide.
	  
 VOLUME LIMITS
  
	  	 
	Maximum Dollar Amount    
	  	$5,000,000 aggregate UPB of Variance Mortgages outstanding at any time for which a
certificate of completion has not been submitted by Lender to Fannie Mae in accordance with the Selling Guide.

420948v3 

  
 Master
Agreement ML02783 
 VAR 13 - 1 
 Amendment 9 
 March 15, 2011 

 SPECIAL REQUIREMENTS 
 This Special Requirements Attachment is attached to and made a part of the Master Agreement. Under this Master Agreement, Lender may sell Mortgages originated in accordance with the following special
requirements. Unless otherwise specified, the following special requirements apply only to conventional, first lien Mortgages. 

  
 Master
Agreement ML02783 
 SREQ - 1 
 Amendment 1 
 May 15, 2010 

 SPECIAL REQUIREMENTS 

TABLE OF CONTENTS 
  

	
	Title
	 
	 SR 1 Lender Scheduled/Scheduled Remittances (04/10)

  
 Master
Agreement ML02783 
 SREQ/TOC – 1 
 Amendment 1 
 May 15, 2010 

 SR 1 Lender Scheduled/Scheduled Remittances (04/10) 

 

			
	Title (Version):	  	Lender Scheduled/Scheduled Remittances (04/10)
	Description:	  	Lender may remit by wire transfer “scheduled/scheduled” remittances of principal
and interest up to two days prior to the date on which Fannie Mae’s Automated Drafting System will draft all unremitted amounts, subject to the following:
	 	 
		  	
	  

REMITTANCE OBLIGATIONS
  

	General	  	
•    The Servicing Guide provides that Fannie Mae will draft scheduled/scheduled
principal and interest payments on the 18th of each
calendar month (or the preceding business day if the 18th is not a business day).
  
 •    Lender may elect to remit scheduled/scheduled remittances by wire transfer up to two business days prior to the business on which Fannie Mae will draft funds from the
applicable account through the Automated Drafting System.
  
 •    Lender shall notify Fannie Mae in advance of the amount of each such wire transfer remittance.
  

•    If Fannie Mae receives such notice, and the wire transfer to Fannie Mae is
completed by 10:00 a.m. ET on the business day prior to the 18th, Fannie Mae will reduce the automated draft amount to reflect the remittances received via such wire transfer.
  

•    As examples:

 
 •    if the
18th of the month falls on a Sunday (and the Thursday and
Friday prior are both business days), the last business day on which the Lender may wire funds pursuant to this Special Requirement is Thursday the 16th.
  

•    If the 18th falls on a Monday (and that date and the Thursday and Friday prior are all business days), the last business day on
which the Lender may wire funds pursuant to this Special Requirement is Friday the 15th.

	Termination	  	Fannie Mae may modify or terminate this Special
Requirement in its sole discretion.

 261142v2 

  
 Master
Agreement ML02783 
 SR 1 Lender Scheduled/Scheduled Remittances (04/10) - 1 

Amendment 1 
 May
5, 2010 

 FIXED-RATE PRODUCT ATTACHMENT 
 This Fixed-Rate Product Attachment for FHA/VA or conventional fixed-rate, residential mortgage loans (“Fixed-Rate Mortgages”) is attached to and made a part of the Master Agreement. 

Variances, Special Products, and Special Requirements Applicable to Fixed-Rate Mortgages 
 Please refer to the attachments under the “Variances” tab and the “Special Requirements” tab, as applicable, for eligibility for variances, special products, and special requirements.

 MBS Guaranty Fee and Buyup/Buydown Information 
 The guaranty fee due to Fannie Mae for any Mortgage sold under any MBS Contract shall be at the annual rate specified in the applicable MBS Contract, payable monthly, after giving effect to any reduction
of the guaranty fee through use of the MBS Express remittance cycle, if applicable. In addition, the guaranty fee will be set before giving effect to (i) any reduction of the guaranty fee through use of the rapid payment method of remittances,
if applicable, and (ii) any increases or decreases of the guaranty fee relating to any buyups or buydowns of such fee, if applicable. 

Lender must choose the applicable Buyup/Buydown Grid posting, “Early” or “Late,” by contacting its customer account team in its lead
regional office, prior to the “Early” grid posting. If Lender fails to notify its lead regional office of its grid selection before the “Early” grid is posted, Fannie Mae will assume that Lender has selected the “Early”
posting grid. Lender’s grid selection will apply to all MBS pools that it sells under the same MBS Contract. Ratios for products or note rates that are not included in the regular posting may be negotiated through Lender’s lead regional
office. 

  
 Master
Agreement ML02783 
 FRM - 1 
 Amendment 9 
 March 15, 2011 

 Contract No. L01030 

FIXED-RATE MORTGAGE POOL PURCHASE CONTRACT 
 MASTER AGREEMENT ML02783 Second Term 
  

 

			
	Lender: HomeStreet Bank	  	Lender Number: 20722-000-0

  

 

			
	Eligible Products:	  	10, 15, 20, 25, 30, 40 year fixed-rate mortgages
		
	Guaranty Fee:	  	[***] Basis Points (10yr, 15yr FRM)
		
		  	[***] Basis Points (20yr, 25yr, 30yr, 40yr FRM)
		
		  	[***] Basis Points (30yr, 40yr IO FRM)
		
	Maximum Amount of Pool Purchase Transactions for Delivery during Second Delivery Term:	  	$1,250,000,000.00
		
	Original First and Last Issue Date for Pools formed under this Contract:	  	April 1, 2010 - June 1, 2011
		
	First Issue Date for Pools formed under this amended Contract:	  	April 1, 2011
		
	Servicing Option:	  	Special
		
	Buyup/Buydown Grid:	  	Early (See additional terms in the MBS Guaranty Fee and Buyup/Buydown Information on the Fixed- Rate Product Attachment.)
		
	Mortgage Type:	  	Conventional
		
	Remittance Cycle:	  	Standard
		
	Seasoning Requirements:	  	Current
		
	Special Feature Codes:	  	Per the Selling Guide and applicable attachments under the “Variances” and “Special Requirements” tabs of the Master Agreement.

Additional Terms: 
  

	•	 	 The Guaranty Fee adjustment for the MBS Express or RPM remittance cycle, if applicable, may be changed by Fannie Mae from time to time and will be
effective 60 days after notice to Lender. 

  

	•	 	 Only FRMS and IO FRMS must be delivered under this MBS Contract. All other Mortgage products are ineligible. 

  
 Pool Purchase
Contract No. L01030 
 FRM - 1 
 Amendment 9 
 March 15, 2011 

[***] Certain information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested
with respect to the omitted portions. 

 ARM PRODUCT ATTACHMENT 
 This ARM Product Attachment for conventional adjustable-rate residential mortgage loans is attached to and made a part of the Master Agreement. 
 Standard Fannie Mae ARM Plans Eligible for Delivery Under MBS Contracts 
 For a complete
description of Fannie Mae’s standard ARM plans, see the Standard ARM Plan Matrix on efanniemae.com. Each ARM MBS Contract will reference ARM plans eligible for delivery under such MBS Contract. 

Variances, Special Products, and Special Requirements Applicable to Adjustable-Rate Mortgages 

Please refer to the attachments under the “Variances” tab and the “Special Requirements” tab, as applicable, for eligibility for
variances, special products, and special requirements. 
 MBS Guaranty Fee and Buyup/Buydown Information 

The guaranty fee due to Fannie Mae for any Mortgage sold under any MBS Contract shall be at the annual rate specified in the applicable MBS Contract,
payable monthly, after giving effect to any reduction of the guaranty fee through use of the MBS Express remittance cycle, if applicable. In addition, the guaranty fee will be set before giving effect to (i) any reduction of the guaranty fee
through use of the rapid payment method of remittances, if applicable, and (ii) any increases or decreases of the guaranty fee relating to any buyups or buydowns of such fee, if applicable. 

Lender must choose the applicable Buyup/Buydown Grid posting, “Early” or “Late,” by contacting its customer account team in its lead
regional office, prior to the “Early” grid posting. If Lender fails to notify its lead regional office of its grid selection before the “Early” grid is posted, Fannie Mae will assume that Lender has selected the “Early”
posting grid. Lender’s grid selection will apply to all MBS pools that it sells under the same MBS Contract. Ratios for products or note rates that are not included in the regular posting may be negotiated through Lender’s lead regional
office. 

  
 Master
Agreement ML02783 
 ARM - 1 
 Amendment 9 
 March 15, 2011 

 Contract No. L01028 

ADJUSTABLE-RATE MORTGAGE POOL PURCHASE CONTRACT 
 MASTER AGREEMENT ML02783 Second Term 
  

			
	 Lender: HomeStreet Bank
	  	Lender Number: 20722-000-0
		
	Eligible Products:	  	Adjustable-Rate Conventional Mortgages
		
	Plan Number(s):	  	03505, 00659, 00660, 00661, 02238, 02699, 02724, 02725, 02737, 03128, 03252 (only those listed above are eligible under this contract - for more details, see the Standard ARM
Plan Matrix on efanniemae.com or, if applicable, the instructions in the Additional Terms section)
		
	Guaranty Fee:	  	 [***] Basis Point (30yr, 40yr ARM)
 [***] Basis Points (30yr “IO” ARM)

		
	Maximum Amount of Pool Purchase Transactions for Delivery during Second Delivery Term:	  	 $60,000,000.00

		
	Original First and Last Issue Date for Pools formed under this Contract:	  	April 1, 2010 - June 1, 2011
		
	First Issue Date for Pools formed under this amended Contract:	  	April 1, 2011
		
	Servicing Option:	  	Special
		
	Buyup/Buydown Grid:	  	Early (See additional terms in the MBS Guaranty Fee and Buyup/Buydown Information in the Preamble section.)
		
	Mortgage Type:	  	Conventional
		
	Pooling Structure:	  	ARM Flex
		
	Remittance Cycle:	  	Standard
		
	Seasoning Requirements:	  	Current
		
	Conversion Option:	  	N/A
		
	Special Feature Codes:	  	Per the Selling Guide and applicable attachments under the “Variances” and “Special Requirements” tabs of the Master Agreement.

  
 Pool Purchase
Contract No. L01028 
 ARM - 1 
 Amendment 9 
 March 15, 2011 

[***] Certain information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested
with respect to the omitted portions. 

 Additional Terms: 
  

	•	 	 The Guaranty Fee adjustment for the MBS Express or RPM remittance cycle, if applicable, may be changed by Fannie Mae from time to time and will be
effective 60 days after notice to Lender. 

  

	•	 	 Only ARMS and IO ARMS must be delivered under this MBS Contract. All other Mortgage products are ineligible. 

  
 Pool Purchase
Contract No. L01028 
 ARM - 2 
 Amendment 9 
 March 15, 2011 

 

 

 CONFIDENTIAL 
 March 15, 2011 
 Mr. Curt Byers 
 Vice President of Secondary Marketing 
 HomeStreet Bank 

601 Union Street 
 2000 Two Union Square

 Seattle, WA 981012326 
  

							
	Subject	  	Master Agreement No:	  	ML02783	  	
		  	Delivery Term:	  	Second	  	
		  	Master Agreement Amendment No.:	  	Amendment 9	  	
		  	Lender No.:	  	20722-000-0	  	

 Dear Mr. Byers: 
 By execution of this Letter Agreement, Fannie Mae and HomeStreet Bank (the “Lender”) agree to amend the above-referenced Master Agreement and Contract (if applicable). The amended terms
and conditions are set forth in the amended pages to the Master Agreement and (if applicable) the Contract attached to this Letter Agreement. The attachments should be inserted into the Lender’s Master Agreement as described below. Capitalized
terms used but not defined in this Letter Agreement, shall have the meanings set forth in the Master Agreement. 
 The amended terms and
conditions are set forth below. If applicable, the Lender and Fannie Mae shall rely also on any attached pages for a complete description of the amended terms and conditions. 
 The amended terms and conditions: 
  

					
	1.	  	 Amended term:
  

Instructions:
	  	 Amend the agreement amount and expiration date for the Master Agreement.

 
 In your Master Agreement, replace the following titled sections:

 

•        EXHIBIT 1 TO MASTER AGREEMENT
ML02783.

  
 Master
Agreement ML02783 
 LE - 1 
 Amendment 9 
 March 15, 2011 

					
	2.	  	Amended term:	  	Amend certain provisions of certain VAR[s] in the “Variances” section of your Master Agreement.
		  	  
 Instructions:
	  	  

•        Replace the VAR/TOC (Table of Contents) with the enclosed
VAR/TOC (Table of Contents).
  

•        Replace the following VAR[s] with the enclosed
VAR[s] in the “Variances” section of your Master Agreement:
  
 •      VAR 12 - HomePath and HomePath Renovation Mortgages.

			
	3.	  	Amended term:	  	Add the ability to originate and sell certain mortgages as described in the “Variances” section of your Master Agreement.
		  	  
 Instructions:
	  	  

•        Insert the following VAR[s] into the
“Variances” section of your Master Agreement:
  
 •      VAR 13 - HomeStyle Renovation Mortgages (04/2010).

			
	4.	  	Amended term:	  	Discontinue the ability to originate and sell certain mortgages as described in the “Variances” section of your Master Agreement.
		  	  
 Instructions:
	  	  

•        Remove the following VAR[s] from the
“Variances” section of your Master Agreement:
  
 •      VAR 1 - HomeStyle Renovation Mortgages;
  

•      VAR 3 - Energy Efficient Mortgages (EXPIRING);

 

•      VAR 7 - HomeStyle Renovation Escrow (03/10);

 

•      VAR 8 - Brigham Young University Residential Leasehold Estates in
Hawaii (03/10); and
  

•      VAR 11 - HomePath and HomePath Renovation Mortgages
(EXPIRING).

			
	5.	  	Amended term:	  	Amend Pool Purchase Contract[s]: L01028 and L01030.
			
		  	Instructions:	  	 Replace Pool Purchase Contract[s] in your Master Agreement as follows:

 

•        Fixed-Rate - L01030 in the Fixed-Rate section of your
Master Agreement.
  

•        Adjustable-Rate - L01028 in the Adjustable-Rate section of
your Master Agreement.

 If you have received the “MASTER AGREEMENT GENERAL TERMS”, “SPECIAL
REQUIREMENT” Terms and/or Pool Contract “PRODUCT ATTACHMENT[S]”, please insert/replace them in their respective sections. All replaced sections, along with this letter, should be inserted under the “Amendment History” tab.

 For whole loan deliveries, any loan-level price adjustments (“LLPAs”) that are referenced in the Master Agreement, will be
available no later than 30 days after Fannie Mae receives the executed Letter Agreement from Lender. 

  
 Master
Agreement ML02783 
 LE - 2 
 Amendment 9 
 March 15, 2011 

 By execution of this Letter Agreement, Fannie Mae and the Lender agree to and accept the amended terms and
conditions as set forth in the attachments to this Letter Agreement. The effective date of the amendments is the date of Fannie Mae’s receipt of this Letter Agreement executed by the Lender (or the later of the date Fannie Mae receives the
executed Letter Agreement or the date shown on Exhibit 1, if Exhibit 1 has been revised in this Letter Agreement). The Lender shall return a duly-executed duplicate original of this Letter Agreement to Fannie Mae within ten business days of the date
this Letter Agreement is executed by Fannie Mae. If Fannie Mae does not receive an executed duplicate original (or electronic version, as provided below) of this Letter Agreement from the Lender within ten business days, Fannie Mae may, at its
option, declare this Letter Agreement null and void. You may return this Letter Agreement to Fannie Mae via facsimile or other means of electronic transmission. Please be aware that if you return only the executed signature page by electronic means
(and not the balance of the Letter Agreement) then you are warranting that you have accepted the Letter Agreement in its entirety in the form sent to you by Fannie Mae, with no strike-outs, additions or other changes. NOTE: if you see anything that
needs to be changed in this Letter Agreement, please give your Customer Account representative a call before you sign the original. 

Sincerely, 
 FANNIE MAE 

 

			
	By:	 	 /s/ Colette Porter

		 	 Colette Porter

Director/Assistant Vice President

	
	Agreed, acknowledged and accepted.
	
	HOMESTREET BANK
		
	By:	 	 /s/ Curt Byers

	Name:	 	 Curt Byers

	Title:	 	 Vice President

	Date:	 	 3/28/2011

 Email addresses for contact related communications are listed below. Please make additions or corrections as necessary. 
 curt.byers@homestreet.com 
 sharon.todhunter@homestreetbank.com 

  
 Master
Agreement ML02783 
 LE - 3 
 Amendment 9 
 March 15, 2011Cash Pledge Agreement

 Exhibit 10.29 
 [***] Indicates confidential material that has been omitted pursuant to a Confidential Treatment Request filed with the Securities and Exchange Commission. A complete copy of this agreement has been
separately filed with the Securities and Exchange Commission. 
 Execution Draft 

CASH PLEDGE AGREEMENT 

This Cash Pledge Agreement (the “Agreement”), dated as of June 1, 2010 (the “Effective Date”), is made by
HomeStreet Bank, a Washington state-chartered savings bank (“Pledgor”), in favor of the Federal Home Loan Mortgage Corporation (“Freddie Mac” or “Secured Party”) (Pledgor and Secured Party
are hereafter sometimes individually referred to as a “Party” and, collectively, as the “Parties”). 
 RECITALS 
 WHEREAS, Pledgor (Seller/Servicer #727808) and Secured Party are parties to:
(i) a Master Agreement #MA 10042083, effective as of June 1, 2010 (together with any renewals or replacements thereof, the “Master Agreement”); (ii) one or more Master Commitments related to the Master Agreement; and
(iii) certain other Purchase Documents (as defined in the Master Agreement), including (without limitation) the Secure Party’s Single-Family Seller/Servicer Guide (the “Guide”); and 

WHEREAS, pursuant to the Purchase Documents, Pledgor has sold and continues to sell to Secured Party residential mortgage loans; and 

WHEREAS Secured Party and Pledgor have agreed that Pledgor will pledge One Million U.S. Dollars ($1,000,000) in cash, to collateralize and secure the
Pledgor Obligations (as defined herein); and 
 WHEREAS, the Parties have agreed that Pledgor will pledge the Collateral to collateralize and
secure the Pledgor Obligations, and the Parties desire to agree to the terms of such pledge of Collateral to secure the Pledgor Obligations. 

NOW, THEREFORE, in consideration of the promises made herein, the direct and indirect benefits to be derived by Pledgor from pledging collateral for the
benefit of Secured Party, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged Pledgor hereby agrees with Secured Party as follows: 
 1. Incorporation of Recitals; Defined Terms. 
 (a) The foregoing recitals
are hereby incorporated herein by reference. 
 (b) Capitalized terms used but not defined in this Agreement shall have the
meanings provided in the Purchase Documents. Other terms not otherwise defined herein or therein shall have the meanings given such terms in the Uniform Commercial Code as in effect in the State of New York (the “UCC”). 

(c) “Account” means an account or accounts with the Bank (established by Secured Party in Secured Party’s name and
under its control), together with any and all (A) sub-accounts 

 
thereof, (B) replacement, substitute and successor accounts and (C) linked or related accounts or sub-accounts held by Secured Party (collectively with any such deposit account, and as
more specifically described in Exhibit A attached hereto and incorporated herein by this reference). The Account may, at Secured Party’s sole option, also include one or more designated subaccounts holding other funds of Secured Party
(and/or funds held by Secured Party on behalf of third parties). 
 (d) “Act of Insolvency” with respect to
Pledgor means: (i) the commencement by Pledgor or any and all direct or indirect parents of Pledgor (individually. a “Pledgor-Related Entity”, and collectively, the “Pledger-Related Entities”) as debtor of any
case or proceeding under any bankruptcy, insolvency, reorganization, liquidation, moratorium, dissolution, delinquency or similar law or Pledgor (or any of the Pledgor-Related Entities) seeking the appointment or election of a receiver, conservator,
trustee, custodian or similar official for Pledgor (or such Pledger-Related Entity, as applicable) or any substantial part of its property, or the convening of any meeting of creditors for purposes of commencing any such case or proceeding or
seeking such an appointment or election; (ii) the commencement of any such case or proceeding against Pledgor (or any Pledgor-Related Entity), which (A) is consented to or not timely contested by Pledgor (or such Pledgor-Related Entity, as
applicable), (B) results in the entry of an order for relief, such an appointment or election, or the entry of an order having a similar effect, or (C) is not dismissed within forty-five (45) calendar days; (iii) the making by
Pledgor (or any Pledgor-Related Entity) of a general assignment for the benefit of creditors; or (iv) the admission in writing by Pledgor (or any Pledgor-Related Entity) of its inability to pay its debts as they become due. 

(e) “Bank” means The Bank of New York Mellon, and any successor thereto or substitute therefor that is acceptable to
Secured Party in its sole discretion. 
 (f) “Cash Amount” means One Million U.S. Dollars ($1,000,000) in cash.

 (g) “Collateral” means (i) the Cash Amount, which shall be wire transferred by Pledgor to
Secured Party (pursuant to the Wire Transfer Instructions) as set forth herein and deposited in the Account; (ii) any and all interest allocated by Secured Party to such Cash Amount, as provided herein; and (iii) all proceeds of the
foregoing. The Account may include other funds, in addition to the Cash Amount, that Secured Party owns, and/or in which Secured Party has an interest, and the Collateral may be comingled with such other funds, provided that the Collateral (and any
interest allocated thereto) is identifiable by Secured Party. 
 (h) “Collateral Value” means, as of any time,
one hundred percent (100%) of the cash, held in the Account, which is attributable to the Collateral, pursuant to Secured Party’s records. 
 (i) “Eligible Collateral” means the Collateral carried in the Account, in which Secured Party has a first priority security interest perfected by control. 

(j) “Event of Default” has the meaning given to such term in Section 11 below. 

  
 2 

 (k) “Fed Effective Rate” means the daily rate set
forth in Federal Reserve Statistical Release H.15(519), opposite the caption “Federal Funds (Effective)”. If, for any reason, such rate shall be unavailable, the “Fed Effective Rate” shall be such rate as nearly equivalent to the
foregoing as Secured Party shall determine. 
 (l) “Pledgor Obligations” means: (i) all the repurchase
and/or indemnification obligations of Pledgor under the Purchase Documents, which obligations are (a) due and owing to Secured Party under the Purchase Documents, and (b) not subject to any right of appeal (or, if applicable, additional or
further right of appeal) under the Purchase Documents; and (ii) any obligations of Pledgor under Section 3 (“Collateral Maintenance”) below. 
 (m) “Required Collateral Amount” has the meaning given to such term in Section 3 below. 
 (n) “Wire Transfer instructions” means Secured Party’s wire transfer instructions as set forth in Exhibit B attached hereto and incorporated herein by this reference.

 (o) The words “hereof,” “herein” and “hereunder” and words of similar import when used in this
Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section, Annex and Exhibit references are to this Agreement unless otherwise specified. The meanings given to terms defined herein shall be
equally applicable to both the singular and plural forms of such terms. 
 2. Grant of Security Interest Securing Pledgor Obligations;
Payment of Pledgor Obligations. 
 (a) Pledgor hereby grants, pledges, and assigns to Secured Party, as collateral security
for Pledgor’s prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of any and all Pledgor Obligations, a first priority continuing security interest (perfected by control) in, lien
on, and right of set-off against any and all of Pledgor’s respective right, title and interest in, to and under the Collateral, whether now owned or hereafter acquired and wherever located. It is the intention of the Pledgor and the Secured
Party that the security interests granted by the Pledgor to the Secured Party shall be made effective and shall be perfected to the fullest extent possible by the Secured Party. 

(b) Pledgor acknowledges and agrees that (i) it shall timely pay and perform the Pledgor Obligations secured hereby as they are
incurred in accordance with the terms of the Guide and the other Purchase Documents, and (ii) Secured Party will be entitled to retain the Collateral pursuant to the terms of this Agreement and until this Agreement is terminated pursuant to
Section 13(j) below, irrespective of whether any Pledgor Obligations are due or outstanding at any particular time. 

(c) Upon the occurrence of any Event of Default hereunder, Pledgor hereby irrevocably authorizes and directs Secured Party, without
further consent from Pledgor, to satisfy, when due, any outstanding Pledgor Obligations from the Account by transferring cash and proceeds of Collateral to Secured Party for application against such Pledgor Obligations. Notwithstanding
(i) anything to the contrary in any of the other Purchase Documents, and (ii) that Pledgor no longer qualifies thereafter as a “Seller/Servicer” under the Guide, Secured Party

  
 3 

 
may determine the Collateral to be withdrawn or liquidated and the timing thereof in its sole discretion. 
 3. Collateral Maintenance. 
 (a) As of the Effective Date, to secure the
Pledgor Obligations, Pledgor agrees to wire transfer to the Account Eligible Collateral with a Collateral Value equal to the Cash Amount (the “Required Collateral Amount”). During the term of this Agreement, Pledgor covenants and
agrees to maintain, as collateral security for the Pledgor Obligations, Eligible Collateral with a Collateral Value not less than the Required Collateral Amount. If, at any time during the term of this Agreement for any reason (including, without
limitation, inadvertent release by Secured Party to Pledgor), the Eligible Collateral in the Account has a Collateral Value that is less than the Required Collateral Amount, Pledgor shall, within three (3) Business Days after the date of a
written notice from Secured Party that the Eligible Collateral has a Collateral Value that is less than the Required Collateral Amount, transfer cash pursuant to the Wire Transfer Instructions such that the aggregate Collateral Value equals or
exceeds the Required Collateral Amount. If at any time Pledgor shall fail to transfer additional cash to the Account in accordance with the preceding terms of this Section 3, such failure shall constitute an Event of Default hereunder.

 (b) Provided that (i) no Event of Default has occurred and is continuing, and (ii) the Collateral Value of Eligible
Collateral held in the Account is greater than the Required Collateral Amount, Pledgor may, not more frequently than once per calendar month, request in writing that Secured Party release Collateral from the Account, whereupon Secured Party agrees
that it shall release from the Account Collateral with a Collateral Value equal to such excess. Upon written agreement of the Parties, Secured Party may instead arrange for an automatic monthly payment of any such excess (provided that no Event of
Default has occurred and is continuing); unless otherwise agreed in writing by the Parties, any such payment of any such excess shall be made pursuant to the wire transfer instructions provided by Pledgor to Secured Party in connection with
Pledgor’s approval as a Freddie Mac Seller/Servicer. 
 (c) Any request by Secured Party or Pledgor hereunder may be made
by telephone, electronic mail or facsimile, and shall be effective immediately as of the time made; provided, however, that any telephonic or electronic mail notice shall promptly be confirmed by delivery of written notice to the other party,
pursuant to the notice provisions set forth in Annex I attached hereto and incorporated herein by reference. 
 4. Income. Unless
and until Secured Party shall exercise rights in respect of the Collateral upon an Event of Default, interest on the Collateral shall accrue at the Fed Effective Rate for the benefit of Pledgor and shall be credited to the Account (or any applicable
sub-account relating to the Collateral). Secured Party shall: (i) have the right to determine, in its sole discretion, the manner in which the Collateral is invested; (ii) only be obligated to pay interest on the Collateral at the Fed
Effective Rate, regardless of any amount actually earned from the investment or reinvestment of the Collateral, and (iii) be entitled to deduct from any such interest earned at the Fed Effective Rate any actual fees charged by the Bank for the
establishment or maintenance of 

  
 4 

 
the Account (any such deduction shall be made on a pro rata basis, taking into account the total cash in the Account, and the percentage of such total cash that is represented by the Collateral).

 5. Further Assurances. 
 (a) Pledgor covenants that, upon the request of the Secured Party, Pledgor will, at its sole expense, take all actions necessary to maintain the perfection of Secured Party’s lien on, and security
interest in, the Collateral, including promptly executing, delivering and filing or causing to be executed, delivered and filed, any agreements, documents and statements and performing such acts as may be reasonably necessary to fully perfect, by
control, or otherwise evidence Secured Party’s security interest in the Collateral. 
 (b) Pledgor covenants and agrees
that it will (i) not take any action that could void or undermine Secured Party’s security interest in the Collateral; (ii) take such further action as Secured Party may reasonably request for the purpose of obtaining or preserving
the full benefits of this Agreement any of the rights and powers herein granted; and (iii) upon request by Secured Party, pay any reasonable and customary filing fees or other costs and expenses incurred by either Party’ in connection with
establishing and maintaining the Collateral and with perfecting Secured Party’s security interest in the Collateral. 
 7. Limited Power
of Attorney. 
 (a) Pledgor hereby irrevocably constitutes and appoints Secured Party and any officer or agent thereof, with
full power of substitution, as Pledgor’s true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of Pledgor and in the name of Pledgor or in its own name, and Pledgor authorizes Secured Party, without
notice to the Pledgor from the time that Pledgor fails to perform or comply with any of its obligations contained in this Agreement and at any time thereafter as the Secured Party, in its sole discretion, may determine, (i) to execute, in
connection with any sale provided for herein, any endorsements, assignments, or other instruments of conveyance or transfer with respect to the Collateral and to file any applicable initial financing statements, amendments thereto, continuation
statements and control agreements with or without the signature of such Pledgor as authorized by applicable law as applicable to all or any part of the Collateral and (ii) to take the following actions and to execute any and all documents and
instruments which may be necessary or desirable to accomplish the purposes of this Agreement: 
 (A) in the name
of Pledgor or its own name, or otherwise, take possession of and sell or liquidate the Collateral and endorse and collect any checks, drafts, notes, acceptances or other instruments for the payment of moneys or payable on or on account of any
Collateral and to file any claim or to take any other action or proceeding in any court of law or equity or otherwise deemed appropriate by Secured Party for the purpose of collecting any and all such moneys due with respect to any Collateral
whenever payable; 
 (B) pay or discharge taxes and liens levied or placed on or threatened against the
Collateral; 

  
 5 

 (C) direct any party liable for any payment under any Collateral to make
payment of any and all moneys due or to become due thereunder directly to Secured Party or as Secured Party shall direct; 
 (D) ask or demand for, collect, receive payment of and receipt for, any and all moneys, claims and other amounts due or to become due at any time in respect of or arising out of any Collateral;

 (E) sign and endorse any invoices, assignments, verifications, notices and other documents in connection with
any of the Collateral; 
 (F) commence and prosecute any suits, actions or proceedings at law or in equity in any
court of competent jurisdiction to collect the Collateral or any portion thereof and to enforce any other right in respect of any Collateral; 
 (G) defend any suit, action or proceeding brought against such Pledgor with respect to any Collateral; 
 (H) settle, compromise or adjust any suit, action or proceeding described in clause (G) above and, in connection therewith, to give such discharges or releases as Secured Party may deem appropriate;
and 
 (I) generally, sell, transfer, pledge and make any agreement with respect to or otherwise deal with any of
the Collateral as fully and completely as though Secured Party were the absolute owner thereof for all purposes, and to do, at Secured Party’s option and Pledgor’s expense, at any time, and from time to time, all acts and things which
Secured Party deems necessary to protect, preserve or realize upon the Collateral and Secured Party’s liens and security interests thereon and to effect the intent of this Agreement, all as fully and effectively as such Pledgor might do.

 (b) Pledgor hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof. 

8. Rights and Obligations of Secured Party. 
 (a) If Pledgor fails to perform or comply with any of its obligations contained in this Agreement, Secured Party may itself perform or comply, or otherwise cause performance or compliance, with such
obligations and all reasonable out-of-pocket expenses of Secured Party incurred in connection with such performance or compliance, together with interest on any such out-of-pocket expenses at a rate per annum equal to the highest legal rate of
interest, shall be payable by Pledgor to Secured Party upon ten (10) calendar days’ notice that such amounts are due and payable, unless an Event of Default shall have occurred and is continuing, in which case such amounts shall be due and
payable on demand and, in either case, shall constitute additional Pledgor Obligations. 

  
 6 

 (b) All authorizations and agencies herein contained with respect to the Collateral,
including the limited power of attorney described in Section 7 above, are irrevocable until the later to occur of (i) the Pledgor Obligations shall have been irrevocably paid in full or (ii) Secured Party has agreed that this
Agreement shall terminate, and are powers coupled with an interest. 
 (c) Any powers conferred on Secured Party hereunder are
solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Secured Party shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights pertaining to the
Collateral. Secured Party shall be under no duty or obligation, and Pledgor waives any right to require Secured Party to, make or give any presentment, demands for performance, protests or other notices in connection with any obligations comprising
Collateral. 
 (d) This is a continuing Agreement and all rights, powers and remedies hereunder shall apply to all past, present
and future Pledgor Obligations, including those Pledgor Obligations arising under successive transactions notwithstanding any Act of Insolvency by Pledgor or any other event or proceeding affecting Pledgor. 

9. Representations and Warranties. As of the date of this Agreement and on a continuing basis throughout the term of this Agreement, Pledgor
represents, warrants, and, as applicable, covenants to Secured Party that: 
 (a) Pledgor (i) is a bank, duly organized,
validly existing and in good standing under the laws of the State of Washington; (ii) has all requisite power, and has all governmental licenses, authorizations, consents and approvals necessary to own its assets and carry on its business as
now being or as proposed to be conducted; and (iii) is qualified to do business and is in good standing in all other jurisdictions in which the nature of the business conducted by it makes such qualification necessary; 

(b) (i) Pledgor has all necessary power, authority and legal right to execute, deliver and perform its obligations under this
Agreement; (ii) the execution, delivery and performance by Pledgor of this Agreement have been duly authorized by all necessary action on its part; and (iii) this Agreement has been duly and validly executed and delivered by Pledgor and
constitutes a legal, valid and binding obligation of Pledgor, enforceable against Pledgor in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other
similar laws affecting the enforcement of creditor’s rights generally and general equitable principles (whether considered in a proceeding in equity or at law); 
 (c) No authorizations, approvals or consents of, and no filings or registrations with, any governmental authority or any securities exchange are necessary for the execution, delivery or performance by
Pledgor of this Agreement or for the legality, validity or enforceability thereof; 

  
 7 

 (d) Except as disclosed on Exhibit C attached hereto and incorporated herein by this
reference, and except for the lien and security interest granted to Secured Party pursuant to this Agreement, Pledgor owns the Collateral pledged to Secured Party free and clear of any and all liens or claims of others, and no security agreement,
financing statement or other public notice with respect to all or any part of the Collateral is on file or of record in any public office, except such as may have been filed in favor of Secured Party pursuant to this Agreement; 

(e) Pledgor acknowledges that the Account at all times will be a deposit account (as defined in Section 9-102(a)(29) of the UCC)
maintained with the Bank, acting in the capacity of a bank (as defined in Section 9-102(a)(8) of the UCC), over which deposit account Secured Party has control under Section 9-104 of the UCC; 

(f) Pledgor’s exact legal name and assigned organizational identification number, if any, are correctly set forth on the signature
page hereof, and Pledgor will notify Secured Party in writing at least thirty (30) calendar days prior to any change in Pledgor’s name or identity; 
 (g) Except as disclosed on Exhibit C to this Agreement, Secured Party has a valid, first priority security interest in the Collateral that is perfected by control under Section 9-314 of the
UCC; and 
 (h) This Agreement has been (A) either (1) specifically approved by Pledgor’s board of directors; or
(2) approved by an officer of Pledgor who was duly authorized by Pledgor’s board of directors to enter into this type of contract; and (B) such approval or authorization is reflected in the minutes of the meetings of such board of
directors. This Agreement shall constitute a “written agreement” governing Pledgor’s obligations to Secured Party with respect to the Collateral. Pledgor (and any successor thereto) will continuously maintain this “written
agreement” as an official record of Pledgor. 
 10. Additional Covenants. Pledgor hereby covenants and agrees with Secured Party
that, from and after the date of this Agreement until the Pledgor Obligations are paid in full or until the Collateral is released pursuant to Section 13(j) below: 
 (a) Without the prior written consent of Secured Party, Pledgor will not (i) sell, assign, transfer, exchange or otherwise dispose of, or grant any option with respect to, the Collateral; or
(ii) except in favor of Secured Party, create, incur or permit to exist any lien or option in favor of, or any claim of any person with respect to, any of the Collateral, or any interest therein; or (ill) enter into or suffer to exist any
agreement or undertaking restricting the right or ability of Pledgor or Secured Party to sell, assign or transfer any of the Collateral; 
 (b) Except as disclosed on Exhibit C to this Agreement, Pledgor will keep the Collateral free of all liens, claims, security interests and encumbrances of any kind or nature, whether voluntary or
involuntary, except the security interest of Secured Party; and 
 (c) Pledgor shall, at Pledgor’s expense, take all
actions necessary or advisable from time to time to maintain the first priority security interest, perfected by control, of Secured Party 

  
 8 

 
in the Collateral and shall not take any actions that would alter, impair or eliminate such priority or perfection. 
 11. Events of Default. At the option of the Secured Party, the occurrence of any of the following shall be an Event of Default hereunder (an “Event of Default”): 

(a) Pledgor’s failure to pay any Pledgor Obligation within three (3) Business Days of receipt by Pledgor of written notice sent
by Secured Party that such obligation is unpaid; 
 (b) Secured Party’s termination of Pledgor as a Seller and/or as a
Servicer, for cause, pursuant to the Purchase Documents; 
 (c) Pledgor’s failure to comply with any of the provisions,
conditions, covenants or agreements in, or the incorrectness of any representation or warranty contained in, this Agreement, including without limitation Pledgor’s failure to maintain Eligible Collateral in accordance with the requirements of
Section 3 above; 
 (d) Transfer or disposition of any of the Collateral, except as expressly permitted by this
Agreement or otherwise agreed to in writing between the Parties; 
 (e) Attachment, execution, or levy on any of the Collateral
by any party other than Secured Party without Secured Party’s prior express written consent, which consent may be withheld at the discretion of the Secured Party; 
 (f) Pledgor’s failure or the failure of any Pledger-Related Entity to comply with: (i) any applicable federal, state or local banking laws, rules, regulations, or other laws, or (ii) any
orders, judgments, decisions, or decrees of any applicable regulator, court of competent jurisdiction, or arbitrator (pursuant to mandatory arbitration) in connection with which, in Secured Party’s discretion, noncompliance with clauses (i),
(ii) or both may have any material adverse effect on the Collateral or Secured Party’s rights under this Agreement and such noncompliance, if subject to cure, continues for three (3) Business Days of receipt by Pledgor of written
notice sent by Secured Party; or 
 (g) The occurrence of an Act of Insolvency with respect to Pledgor. 

12. Remedies Upon Default. 
 (a) General. Secured Party’s rights under this Agreement are in addition to, and shall in no way be deemed to limit, the rights and remedies provided to Secured Party under the Purchase
Documents. Upon the occurrence of any Event of Default, Secured Party may pursue any remedy available at law (including, without limitation, those available under the provisions of the UCC), or in equity to collect, enforce, or satisfy any interest
in the Collateral. 
 (b) Concurrent Remedies. Upon the occurrence of an Event of Default, Secured Party shall have the
right to collect, enforce, or enforce any interest in the Collateral and to collect 

  
 9 

 
or enforce Pledgor Obligations then owing, whether by acceleration or otherwise through the pursuit of any of the following remedies separately, successively or simultaneously: 

(i) file suit and obtain judgment, and, in conjunction with any action, Secured Party may seek any ancillary remedies
provided by law, including levy of attachment and garnishment; 
 (ii) transfer all or any portion of the
Collateral pledged by Pledgor to another account in Secured Party’s name; 
 (iii) receive all or any
portion that Secured Party may designate of the distributions derived from the Collateral, including funds received by any securities intermediary upon maturity of any Collateral or any other funds so held at the time of such declaration of an Event
of Default; 
 (iv) apply any of the Collateral in the Account toward payment of the Pledgor Obligations; and

 (v) pursue any remedy available under the Purchase Documents, including (without limitation) termination of
Pledgor as a Seller/Servicer. 
 13. Miscellaneous. 
 (a) Severability. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

(b) Section Headings. The section headings used in this Agreement are for convenience of reference only and are not to affect the
construction hereof or be taken into consideration in the interpretation hereof. 
 (c) Waivers and Amendments; Successors
and Assigns. None of the terms or provisions of this Agreement may be waived, amended, supplemented or otherwise modified except by a written instrument executed by Pledgor and Secured Party, provided that any provision of this Agreement may be
waived by Secured Party in a letter or agreement executed by Secured Party or by facsimile or other electronic transmission from Secured Party. This Agreement shall be binding upon the successors and assigns of Pledgor and shall inure to the benefit
of Secured Party and its respective successors and assigns. This Agreement not intended to waive, amend, supplement or otherwise modify any terms or conditions contained in any Purchase Document. 

(d) Governing Law; Venue; Waiver of Jury Trial. This Agreement shall be governed by and construed, and the rights and obligations
of Secured Party and Pledgor hereunder determined, in accordance with the laws of the United States. Insofar as there may be no 

  
 10 

 
applicable precedent, and insofar as to do so would not frustrate any provision of this Agreement or the transactions governed thereby, the laws of the State of New York shall be deemed
reflective of the laws of the United States. For purposes of the UCC, New York shall be deemed to be the Parties’ jurisdiction. Each Party irrevocably waives any objection on the grounds of venue, forum non-conveniens or any similar grounds and
irrevocably consents to service of process by mail or in any other manner permitted by applicable law and consents to the jurisdiction of the federal courts located in the State of New York sitting in the borough of Manhattan, City of New York. The
parties further hereby waive any right to a trial by jury with respect to any lawsuit or judicial proceeding arising or relating to this Pledge Agreement. 
 (e) Purchase Documents. Pledgor and Secured Party agree that this Agreement is a Purchase Document. 
 (f) Counterparts. This Agreement may be executed by one or more of the Parties to this Agreement on any number of separate counterparts and all of such counterparts taken together shall be deemed
to constitute one and the same instrument. 
 (g) Integration. This Agreement and the other Purchase Documents contain
the entire agreement between the Parties relating to the subject matter hereof and supersede all oral statements and prior writings with respect thereto. 
 (h) Increase in Required Collateral Amount. Secured Party reserves the right, as a condition to continuing to treat Pledgor as a Freddie Mac-approved seller/servicer, to require an increase to the
Required Collateral Amount under this Agreement, in the event that Secured Party determines that either or both of: (1) the level and frequency of Pledgor Obligations hereunder, and/or (2) Secured Party’s exposure to Pledgor’s
warranty obligations to Secured Party is/are disproportionate to Pledgor’s capital and/or assets, and that such factor(s) could materially and adversely affect Freddie Mac. Secured Party shall give not less than thirty (30) days prior
written notice to Pledgor of any required increase hereunder to the Required Collateral Amount. 
 (i) Review of Required
Collateral Amount. Provided that no Event of Default shall have occurred and is continuing, Pledgor may, after the date that is one (1) calendar year after the Effective Date and no more frequently than every twelve (12) months
thereafter, request in writing that Secured Party review Secured Party’s need for Collateral hereunder to secure Pledgor Obligations, and Secured Party shall review such need, taking into consideration whatever factors Secured Party deems
relevant or appropriate in its sole but reasonable discretion; provided, however, that in the event Secured Party determines that the Collateral hereunder remains necessary to secure Pledgor Obligations, Secured Party shall, upon receipt of
Pledgor’s written request, make available an officer of Secured Party to meet with a representative of Pledgor (not more frequently than once each twelve (12) months) to provide to and review and (to the extent that Secured Party believes
that it can do so without divulging its risk models or other proprietary information) explain to Pledgor the underlying methodology, assumptions, factors and other information used in the Secured Party’s reasoning for its decisions the Required
Collateral Amount. Such other information may include (but is not necessarily limited to) an analysis of Pledgor’s: (i) loan loss reserves: (ii) recourse obligations; (iii) 

  
 11 

 
regulatory and litigation exposure; (iv) overall financial condition (including the valuation of Pledgor’s financial assets and liabilities); and (v) the results or findings of any
review conducted of Pledgor by Secured Party and/or its agents (such reviews may include, but are not necessarily limited to, reviews by Secured Party’s External Operational Risk Management department). Secured Party will also take into
consideration any other factors reasonably proposed by Pledgor. 
 (j) Termination. Notwithstanding anything herein or in
any of the other Purchase Documents to the contrary, this Agreement shall terminate and Secured Party shall release its security interest in the Collateral and cause the Collateral to be returned to Pledgor upon mutual written agreement of Secured
Party and Pledgor. In the event Secured Party determines that the Collateral hereunder is not necessary to secure Pledgor Obligations, this Agreement shall terminate and Secured Party shall release its security interest in the Collateral and cause
the Collateral to be returned to Pledgor. 
 [Signatures appear on following page] 

  
 12 

 [Signature page to that certain Cash Pledge Agreement dated as of 

June 1, 2010, by and between HomeStreet Bank and Freddie Mac, 

continued from page 12] 

IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and delivered as of the date first above written. 

 

					
	Pledgor: 
	
	HOMESTREET BANK
		
	By:	 	/s/ Darrell Van Amen
		 	Name:	 	Darrell Van Amen
		 	Title:	 	V.P. Treasurer
		 	Date:	 	6/15/10
	
	Secured Party:
	
	FEDERAL HOME LOAN MORTGAGE CORPORATION
		
	By:	 	/s/ Mike Dawson
		 	Name:	 	Mike Dawson
		 	Title:	 	VP - Deal & Contract Management
		 	Date:	 	June 16, 2010

  
 13 

 ANNEX I 
 Notice Provisions 
 Notice Provisions. All notices that are required or are
permitted under this Agreement shall be in writing and shall be: (i) hand-delivered; (ii) mailed by certified or registered U.S. Mail, return receipt requested, first class postage prepaid, (iii) sent by recognized overnight courier
service (e.g., FedEx, DHL, UPS); or (iv) telecopied to the Parties as follows: 
  

			
	if to Secured Party:	 	Freddie Mac
		 	1551 Park Run Drive
		 	McLean, VA 22102
		 	Attention: Chief Credit Officer
		 	Telecopier: (571) 382-3723
		 	Email: ray_romano@freddiemac.com*
		
	with a copy to:	 	Legal Division
		 	Freddie Mac
		 	8300 Jones Branch Drive
		 	McLean, VA 22102
		 	Attention: Vice President and Deputy General Counsel,
		 	Mortgage Law
		 	Telecopier: (703) 903-2559
		 	Email: ken_peters@freddiemac.com*
		
	if to Pledgor:	 	HomeStreet Bank
		 	601 Union Street, Suite 2000
		 	Seattle, WA 98101
		 	Attention: Executive Vice President and Chief Financial Officer
		 	Telecopier: (206) 389-7703
		 	Email: david.hooston@homestreet.com*
		
	with a copy to:	 	HomeStreet Bank
		 	Executive Vice President and General Counsel
		 	601 Union Street, Suite 200
		 	Seattle, WA 98101
		 	Attention: Executive Vice President and General Counsel
		 	Telecopier: (206) 389-7703
		 	Email: godfrey.evans@homestreet.com*
		
		 	HomeStreet Bank
		 	601 Union Street, Suite 2000
		 	Seattle, WA 98101
		 	Attention: SVP and Single-Family Operations Director
		 	Telecopier: (206) 621-2584
		 	Email: susan.greenwald@homestreet.com*

  
 14 

 or to such other address or telecopier number as any Party shall designate by written notice to the other
Party in the manner provided herein. Each notice shall be effective (i) if by hand-delivery, upon hand-delivery to the applicable Party, (ii) if given by mail or recognized overnight courier service, on the earlier of the date of actual
receipt or three (3) Business Days after being sent to the applicable address specified above or (iii) if given by telecopy during the recipient’s normal business hours, when such notice is transmitted to the telecopy number specified
above and the sender receives a confirmation of transmission from the sending telecopy machine. 
  

	*	Communications to email address are effective solely for the purposes expressly given in the Agreement. 

  
 15 

 Exhibit A 
 Mellon Trust of New England 
 DDA 108111 
 For account: [***] 

  
 16 

[***] Certain information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested
with respect to the omitted portions. 

 Exhibit B 
 Wire Transfer Instructions for Secured Party are as follows: 
 ABA 011001234 

Mellon Trust of New England 
 DDA 108111

 For account: [***] 

  
 17 

[***] Certain information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested
with respect to the omitted portions.

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