Document:

EX-10.16

 Exhibit 10.16 

EXECUTION VERSION 
 AMENDMENT
NUMBER TWO 
 to the 
 MASTER
REPURCHASE AGREEMENT 
 Dated as of May 17, 2013, 

between 
 VELOCITY COMMERCIAL
CAPITAL, LLC 
 and 
 CITIBANK,
N.A. 
 This AMENDMENT NUMBER TWO (this “Amendment Number Two”) is made this 14th day of May, 2014, between VELOCITY COMMERCIAL CAPITAL, LLC (“Seller”) and CITIBANK, N.A. (“Buyer”), to the Master Repurchase Agreement, dated as of May 17,
2013, between Seller and Buyer, as such agreement may be amended from time to time (the “Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Agreement. 

RECITALS 
 WHEREAS, Seller
has requested that Buyer agree to amend the Agreement to provide for the extension of the Termination Date under the Agreement, and the Buyer has agreed, subject to the terms and conditions set forth herein; and 

WHEREAS, as of the date hereof, Seller represents to Buyer that Seller is in full compliance with all of the terms and conditions of the
Agreement and each other Program Document and no Default or Event of Default has occurred and is continuing under the Agreement or any other Program Document. 

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and for the mutual covenants
herein contained, the parties hereto hereby agree as follows: 
 SECTION 1.    Amendment. Effective as of
May 14, 2014 (the “Amendment Effective Date”), but subject to the condition precedent set forth in Section 2 below, Section 2 of the Agreement is hereby amended by deleting the definition of “Termination
Date” in its entirety and replacing it with the following: 
 “Termination Date” shall mean
June 16, 2014, or such earlier date on which this Agreement shall terminate in accordance with the provisions hereof or by operation of law. 

SECTION 2.    Condition Precedent. As a condition precedent to the effectiveness of this Amendment Number Two,
Buyer, Seller and Ocwen Loan Servicing, LLC, as Servicer, shall have into a Servicer Instruction Letter in form and substance reasonably acceptable to Buyer. 

SECTION 3.    Fees and Expenses. Seller agrees to pay to Buyer all reasonable out of pocket costs and expenses
incurred by Buyer in connection with this Amendment Number Two (including all reasonable fees and out of pocket costs and expenses of the Buyer’s legal counsel) in accordance with Sections 23 and 25 of the Agreement. 

 SECTION 4.    Representations. Seller hereby represents to Buyer
that as of the date hereof, Seller is in full compliance with all of the terms and conditions of the Agreement and each other Program Document and no Default or Event of Default has occurred and is continuing under the Agreement or any other Program
Document. 
 SECTION 5.    Binding Effect: Governing Law. This Amendment Number Two shall be binding and inure to
the benefit of the parties hereto and their respective successors and permitted assigns. THIS AMENDMENT NUMBER TWO SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY, THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO THE CONFLICT OF
LAWS PRINCIPLES THEREOF (EXCEPT FOR SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

SECTION 6.    Counterparts. This Amendment Number Two may be executed by each of the parties hereto on any number
of separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument. 

SECTION 7.    Limited Effect. Except as amended hereby, the Agreement shall continue in full force and effect in
accordance with its terms. Reference to this Amendment Number Two need not be made in the Agreement or any other instrument or document executed in connection therewith, or in any certificate, letter or communication issued or made pursuant to, or
with respect to, the Agreement, any reference in any of such items to the Agreement being sufficient to refer to the Agreement as amended hereby. 

  
 2 

 IN WITNESS WHEREOF, Seller and Buyer have caused this Amendment Number Two to be executed
and delivered by their duly authorized officers as of the Amendment Effective Date. 
  

			
	 VELOCITY COMMERCIAL CAPITAL, LLC

(Seller)

		
	By:	 	 /s/ Jeff Taylor

	Name:	 	Jeff Taylor
	Title:	 	Executive Vice President
	
	CITIBANK, N.A.
	(Buyer)	 	
		
	By:	 	 /s/ Susan Mills

	Name:	 	Susan Mills
	Title:	 	Vice President, Citibank, N.A.

  
 Amendment Two to MRAEX-10.17

 Exhibit 10.17 

EXECUTION VERSION 

AMENDMENT NUMBER THREE 
 to the

 MASTER REPURCHASE AGREEMENT 

Dated as of May 17, 2013, 

between 
 VELOCITY COMMERCIAL
CAPITAL, LLC 
 and 
 CITIBANK,
N.A. 
 This AMENDMENT NUMBER THREE (this “Amendment Number Three”) is made this 16th day of June, 2014, between VELOCITY COMMERCIAL CAPITAL, LLC (“Seller”) and CITIBANK, N.A. (“Buyer”), to the Master Repurchase Agreement, dated as of May 17,
2013, between Seller and Buyer, as such agreement may be amended from time to time (the “Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Agreement. 

RECITALS 
 WHEREAS, Seller
has requested that Buyer agree to amend the Agreement to provide for the extension of the Termination Date under the Agreement, and the Buyer has agreed, subject to the terms and conditions set forth herein; and 

WHEREAS, as of the date hereof, Seller represents to Buyer that Seller is in full compliance with all of the terms and conditions of the
Agreement and each other Program Document and no Default or Event of Default has occurred and is continuing under the Agreement or any other Program Document. 

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and for the mutual covenants
herein contained, the parties hereto hereby agree as follows: 
 SECTION 1. Amendment. Effective as of June 16, 2014 (the
“Amendment Effective Date”), but subject to the condition precedent set forth in Section 2 below, Section 2 of the Agreement is hereby amended by deleting the definition of “Termination Date” in its entirety and
replacing it with the following: 
 “Termination Date” shall mean June 15, 2015, or such earlier date on which this
Agreement shall terminate in accordance with the provisions hereof or by operation of law. 
 SECTION 2. Condition Precedent. As a
condition precedent to the effectiveness of this Amendment Number Three, Seller shall have paid to Buyer (i) the May 2014 Extension Commitment Fee and (ii) the first installment of the June 2014 Renewal Commitment Fee (each as defined in
the Pricing Side Letter). 
 SECTION 3. Fees and Expenses. Seller agrees to pay to Buyer all reasonable out of pocket costs and
expenses incurred by Buyer in connection with this Amendment Number Three (including all reasonable fees and out of pocket costs and expenses of the Buyer’s legal counsel) in accordance with Sections 23 and 25 of the Agreement. 

SECTION 4. Representations. Seller hereby represents to Buyer that as of the date hereof, Seller is in full compliance with all of the
terms and conditions of the Agreement and each other Program Document and no Default or Event of Default has occurred and is continuing under the Agreement or any other Program Document. 

 SECTION 5. Binding Effect; Governing Law. This Amendment Number Three shall be
binding on and inure to the benefit of the parties hereto and their respective successors and permitted assigns. THIS AMENDMENT NUMBER THREE SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY, THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING
EFFECT TO THE CONFLICT OF LAWS PRINCIPLES THEREOF (EXCEPT FOR SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

SECTION 6. Counterparts. This Amendment Number Three may be executed by each of the parties hereto on any number of separate
counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument. 
 SECTION 7.
Limited Effect. Except as amended hereby, the Agreement shall continue in full force and effect in accordance with its terms. Reference to this Amendment Number Three need not be made in the Agreement or any other instrument or document
executed in connection therewith, or in any certificate, letter or communication issued or made pursuant to, or with respect to, the Agreement, any reference in any of such items to the Agreement being sufficient to refer to the Agreement as amended
hereby. 

  
 2 

 IN WITNESS WHEREOF, Seller and Buyer have caused this Amendment Number Three to be executed
and delivered by their duly authorized officers as of the Amendment Effective Date. 
  

			
	 VELOCITY COMMERCIAL CAPITAL, LLC

(Seller)

		
	By:	 	/s/ Jeff Taylor

 
			
	Name:	 	Jeff Taylor
	Title:	 	Executive Vice President

  

			
	 CITIBANK, N.A.

(Buyer)

 
			
		
	By: 	 	 

 
			
	Name:	 	
	Title:	 	

 Amendment Three to MRA 

 IN WITNESS WHEREOF, Seller and Buyer have caused this Amendment Number Three to be executed
and delivered by their duly authorized officers as of the Amendment Effective Date. 
  

			
	 VELOCITY COMMERCIAL CAPITAL, LLC

(Seller)

 
			
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	 CITIBANK, N.A.

(Buyer)

 
			
		
	By:	 	/s/ Susan Mills
	Name:	 	 Susan Mills

	Title:	 	 Vice President

Citibank, N.A.

Amendment Three to MRAEX-10.18

 Exhibit 10.18 

EXECUTION VERSION 
 AMENDMENT
NUMBER FOUR 
 TO THE 
 MASTER
REPURCHASE AGREEMENT 
 Dated as of May 17, 2013 

between 
 VELOCITY COMMERCIAL
CAPITAL, LLC 
 and 
 CITIBANK,
N.A. 
 This AMENDMENT NUMBER FOUR TO THE MASTER REPURCHASE AGREEMENT (this “Amendment”) is made this 18th day of December,
2014, between VELOCITY COMMERCIAL CAPITAL, LLC (“Seller”) and CITIBANK, N.A. (“Buyer”), to the Master Repurchase Agreement, dated as of May 17, 2013, between Seller and Buyer, as such agreement may be amended
from time to time (the “Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Agreement. 

RECITALS 
 WHEREAS, the parties
hereto desire to amend the Agreement in certain respects as provided herein. 
 NOW THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, and for the mutual covenants herein contained, the parties hereto hereby agree as follows: 

SECTION 1. Amendments. Effective as of the date hereof, the Agreement is hereby amended as follows: 

(a) Section 8(a) of the Agreement is hereby amended by deleting the first paragraph of such section in its entirety and inserting the following
in lieu thereof (solely for convenience, modified language is italicized): 
 “(a) Seller and Buyer intend that the
Transactions hereunder be sales to Buyer of the Purchased Loans (including, without limitation, the related Servicing Rights) and not loans from Buyer to Seller secured by the Purchased Loans. However, in order to preserve Buyer’s rights under
this Agreement in the event that a court or other forum recharacterizes the Transactions hereunder as other than sales, and as security for Seller’s performance of all of its Obligations, Seller hereby grants Buyer a perfected first priority
security interest in all of Seller’s rights, title and interest in and to the following property, whether now existing or hereafter acquired: (i) all Purchased Loans identified on a Purchase Notice delivered by Buyer to Seller and
Custodian from time to time, (ii) all related Loan Documents, including, without limitation, all promissory notes, (iii) any other collateral pledged or otherwise relating to such Purchased Loans, together with all files, material
documents, instruments, surveys (if available), certificates, correspondence, appraisals, computer records, computer storage media, Loan accounting records and other books and records relating thereto, (iv) the Servicing Records, and the
related Servicing Rights, (v) all rights of Seller to receive from any third party or to take delivery of any Records including, without limitation, any Servicing Records or other documents which constitute a part of the Mortgage File or
Servicing File, (vi) the Collection Account and all Income relating to such Purchased Loans, (vii) all mortgage guaranties and insurance (issued by governmental agencies or otherwise) and 

 
any document evidencing such mortgage guaranties or insurance relating to any Purchased Loans and all claims and payments thereunder and all rights of Seller to receive from any third party or to
take delivery of any of the foregoing, (viii) all interests in real property collateralizing any Purchased Loans, (ix) all other insurance policies and insurance proceeds relating to any Purchased Loans or the related Mortgaged Property
and all Insurance Proceeds and all rights of Seller to receive from any third party or to take delivery of any of the foregoing, (x) any purchase agreements or other agreements, contracts or any related takeout commitments, to the extent
relating to any Purchased Loans and all rights to receive documentation relating thereto, (xi) all Interest Rate Protection Agreements relating to any Purchased Loans, (xii) all “accounts”, “chattel
paper”, “commercial tort claims”, “deposit accounts”, “documents,” “equipment”, “general intangibles”, “goods”, “instruments”, “inventory”, “investment
property”, “letter of credit rights”, and “securities’ accounts” as each of those terms is defined in the Uniform Commercial Code to the extent they relate to the Purchased Loans and all cash and Cash Equivalents
and all products and proceeds relating thereto, and (xiii) any and all replacements, substitutions, distributions on or proceeds of any Purchased Loans (collectively the “Purchased Items”). Seller acknowledges and
agrees that its rights with respect to the Purchased Items (including without limitation, any security interest Seller may have in the Purchased Loans and any other collateral granted by Seller to Buyer pursuant to any other agreement) are and shall
continue to be at all times junior and subordinate to the rights of Buyer hereunder. 
 (b) Schedule 5 of the Agreement is deleted in its
entirety and Exhibit A hereto is inserted in lieu thereof. 
 SECTION 2. Fees and Expenses. Seller agrees to pay to Buyer all
reasonable out of pocket costs and expenses incurred by Buyer in connection with this Amendment (including all reasonable fees and out of pocket costs and expenses of the Buyer’s legal counsel) in accordance with Sections 23 and 25 of the
Agreement. 
 SECTION 3. Representations. Seller hereby represents to Buyer that as of the date hereof, Seller is in full compliance
with all of the terms and conditions of the Agreement and each other Program Document and no Default or Event of Default has occurred and is continuing under the Agreement or any other Program Document. 

SECTION 4. Binding Effect; Governing Law. This Amendment shall be binding on and inure to the benefit of the parties hereto and their
respective successors and permitted assigns. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY, THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PRINCIPLES THEREOF (EXCEPT FOR SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
 SECTION 5. Counterparts. This Amendment may be
executed by each of the parties hereto on any number of separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument. 

SECTION 6. Limited Effect. Except as amended hereby, the Agreement shall continue in full force and effect in accordance with its
terms. Reference to this Amendment need not be made in the Agreement or any other instrument or document executed in connection therewith, or in any certificate, letter or communication issued or made pursuant to, or with respect to, the Agreement,
any reference in any of such items to the Agreement being sufficient to refer to the Agreement as amended hereby. 
 [Signatures on the
following page] 

  
 2 

 IN WITNESS WHEREOF, Seller and Buyer have caused this Amendment Number Four to the Master
Repurchase Agreement to be executed and delivered by their duly authorized officers as of the date hereof. 
  

			
	 VELOCITY COMMERCIAL CAPITAL, LLC

(Seller)

 
			
		
	By:	 	/s/ Chris Farrar
	Name:	 	Chris Farrar
	Title:	 	CEO & President

  

			
	 CITIBANK, N.A.

(Buyer)

 
			
		
	By:	 	 
	Name:	 	
	Title:	 	

 [Signature Page Velocity/Citi - Amendment Number Four to the Master Repurchase Agreement] 

 IN WITNESS WHEREOF, Seller and Buyer have caused this Amendment Number Four to the Master
Repurchase Agreement to be executed and delivered by their duly authorized officers as of the date hereof. 
  

			
	 VELOCITY COMMERCIAL CAPITAL, LLC

(Seller)

 
			
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	 CITIBANK, N.A.

(Buyer)

 
			
		
	By:	 	/s/ Susan Mills
	Name:	 	 Susan Mills

	Title:	 	 Vice President

Citibank, N.A.

[Signature Page Velocity/Citi - Amendment Number Four to the Master Repurchase Agreement]

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