Document:

EX-10.44

 Exhibit 10.44 

[***] - Confidential portions of this document have been redacted and filed separately with the Commission. 

 

			
	 

  
	  	   Master Repurchase Agreement

  September 1996 Version

	  

  

			
	Dated as of	  	August 25, 2015
		
	Between:	  	BMO Harris Bank N.A. (“BUYER”)
		
	And	  	loanDepot.com, LLC (“SELLER”)

  

	1.	Applicability 

 From time to time the parties hereto may enter into transactions in which
one party (“Seller”) agrees to transfer to the other (“Buyer”) securities or other assets (“Securities”) against the transfer of funds by Buyer, with a simultaneous agreement by Buyer to transfer to
Seller such Securities at a date certain or on demand, against the transfer of funds by Seller. Each such transaction shall be referred to herein as a “Transaction” and, unless otherwise agreed in writing, shall be governed by this
Agreement, including any supplemental terms or conditions contained in Annex I hereto and in any other annexes identified herein or therein as applicable hereunder. 
  

	2.	Definitions 

  

	 	(a)	“Act of Insolvency”, with respect to any party, (i) the commencement by such party as debtor of any case or proceeding under any bankruptcy, insolvency, reorganization, liquidation, moratorium,
dissolution, delinquency or similar law, or such party seeking the appointment or election of a receiver, conservator, trustee, custodian or similar official for such party 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 such party, or another seeking such an appointment, or election, or the
filing against a party of an application for a protective decree under the provisions of the Securities Investor Protection Act of 1970, which (A) is consented to or not timely contested by such party, (B) results in the entry of an order
for relief, such an appointment, or election, the issuance of such a protective decree or the entry of an order having a similar effect, or (C) is not dismissed within 15 days, (iii) the making by such party of a general assignment for the
benefit of creditors, or (iv) the admission in writing by such party of such party’s inability to pay such party’s debts as they become due; 

  

	 	(b)	“Additional Purchased Securities”, Securities provided by Seller to Buyer pursuant to Paragraph 4(a) hereof; 

  

	 	(c)	“Buyer’s Margin Amount”, with respect to any Transaction as of any date, the amount obtained by application of Buyer’s Margin Percentage to the Repurchase Price for such Transaction as of such
date; 

  

	 	(d)	“Buyer’s Margin Percentage”, with respect to any Transaction as of any date, a percentage (which may be equal to the Seller’s Margin Percentage) agreed to by Buyer and Seller or, in the
absence of any such agreement, the percentage obtained by dividing the Market Value of the Purchased Securities on the Purchase Date by the Purchase Price on the Purchase Date for such Transaction; 

	 	(e)	“Confirmation”, the meaning specified in Paragraph 3(b) hereof; 

  

	 	(f)	“Income”, with respect to any Security at any time, any principal thereof and all interest, dividends or other distributions thereon; 

 

	 	(g)	“Margin Deficit”, the meaning specified in Paragraph 4(a) hereof; 

  

	 	(h)	“Margin Excess”, the meaning specified in Paragraph 4(b) hereof; 

  

	 	(i)	“Margin Notice Deadline”, the time agreed to by the parties in the relevant Confirmation, Annex I hereto or otherwise as the deadline for giving notice requiring same-day satisfaction of margin
maintenance obligations as provided in Paragraph 4 hereof (or, in the absence of any such agreement, the deadline for such purposes established in accordance with market practice); 

 

	 	(j)	“Market Value”, with respect to any Securities as of any date, the price for such Securities on such date obtained from a generally recognized source agreed to by the parties or the most recent closing
bid quotation from such a source, plus accrued Income to the extent not included therein (other than any Income credited or transferred to, or applied to the obligations of, Seller pursuant to Paragraph 5 hereof) as of such date (unless contrary to
market practice for such Securities); 

  

	 	(k)	“Price Differential”, with respect to any Transaction as of any date, the aggregate amount obtained by daily application of the Pricing Rate for such Transaction to the Purchase Price for such
Transaction on a 360-day-per-year basis for the actual number of days during the period commencing on (and including) the Purchase Date for such Transaction and ending on (but excluding) the date of determination (reduced by any amount of such Price
Differential previously paid by Seller to Buyer with respect to such Transaction); 

  

	 	(l)	“Pricing Rate”, the per annum percentage rate for determination of the Price Differential; 

  

	 	(m)	“Prime Rate”, the prime rate of U.S. commercial banks as published in The Wall Street Journal (or, if more than one such rate is published, the average of such rates); 

 

	 	(n)	“Purchase Date”, the date on which Purchased Securities are to be transferred by Seller to Buyer; 

  

	 	(o)	“Purchase Price”, (i) on the Purchase Date, the price at which Purchased Securities are transferred by Seller to Buyer, and (ii) thereafter, except where Buyer and Seller agree otherwise, such
price increased by the amount of any cash transferred by Buyer to Seller pursuant to Paragraph 4(b) hereof and decreased by the amount of any cash transferred by Seller to Buyer pursuant to Paragraph 4(a) hereof or applied to reduce Seller’s
obligations under clause (ii) of Paragraph 5 hereof; 

  

	 	(p)	“Purchased Securities”, the Securities transferred by Seller to Buyer in a Transaction hereunder, and any Securities substituted therefor in accordance with Paragraph 9 hereof. The term “Purchased
Securities” with respect to any Transaction at any time also shall include Additional Purchased Securities delivered pursuant to Paragraph 4(a) hereof and shall exclude Securities returned pursuant to Paragraph 4(b) hereof; 

 

	 	(q)	“Repurchase Date”, the date on which Seller is to repurchase the Purchased Securities from Buyer, including any date determined by application of the provisions of Paragraph 3(c) or 11 hereof;

  

	 	(r)	“Repurchase Price”, the price at which Purchased Securities are to be transferred from Buyer to Seller upon termination of a Transaction, which will be determined in each ease (including Transactions
terminable upon demand) as the sum of the Purchase Price and the Price Differential as of the date of such determination; 

	 	(s)	“Seller’s Margin Amount”, with respect to any Transaction as of any date, the amount obtained by application of the Seller’s Margin Percentage to the Repurchase Price for such Transaction as
of such date; 

  

	 	(t)	“Seller’s Margin Percentage”, with respect to any Transaction as of any date, a percentage (which may be equal to Buyer’s Margin Percentage) agreed to by Buyer and Seller or, in the absence of
any such agreement, the percentage obtained by dividing the Market Value of the Purchased Securities on the Purchase Date by the Purchase Price on the Purchase Date for such Transaction. 

 

	3.	Initiation; Confirmation; Termination 

  

	 	(a)	An agreement to enter into a Transaction may be made orally or in writing at the initiation of either Buyer or Seller. On the Purchase Date for the Transaction, the Purchased Securities shall be transferred to Buyer or
its agent against the transfer of the Purchase Price to an account of Seller. 

  

	 	(b)	Upon agreeing to enter into a Transaction hereunder, Buyer or Seller (or both), as shall be agreed, shall promptly deliver to the other party a written confirmation of each Transaction (a
“Confirmation”). The Confirmation shall describe the Purchased Securities (including CUSIP number, if any), identify Buyer and Seller and set forth (i) the Purchase Date, (ii) the Purchase Price, (iii) the Repurchase
Date, unless the Transaction is to be terminable on demand, (iv) the Pricing Rate or Repurchase Price applicable to the Transaction, and (v) any additional terms or conditions of the Transaction not inconsistent with this Agreement. The
Confirmation, together with this Agreement, shall constitute conclusive evidence of the terms agreed between Buyer and Seller with respect to the Transaction to which the Confirmation relates, unless with respect to the Confirmation specific
objection is made promptly after receipt thereof. In the event of any conflict between the terms of such Confirmation and this Agreement, this Agreement shall prevail. 

 

	 	(c)	In the case of Transactions terminable upon demand, such demand shall be made by Buyer or Seller, no later than such time as is customary in accordance with market practice, by telephone or otherwise on or prior to the
business day on which such termination will be effective. On the date specified in such demand, or on the date fixed for termination in the case of Transactions having a fixed term, termination of the Transaction will be effected by transfer to
Seller or its agent of the Purchased Securities and any Income in respect thereof received by Buyer (and not previously credited or transferred to, or applied to the obligations of, Seller pursuant to Paragraph 5 hereof) against the transfer of the
Repurchase Price to an account of Buyer. 

  

	4.	Margin Maintenance 

  

	 	(a)	If at any time the aggregate Market Value of all Purchased Securities subject to all Transactions in which a particular party hereto is acting as Buyer is less than the aggregate Buyer’s Margin Amount for all such
Transactions (a “Margin Deficit”), then Buyer may by notice to Seller require Seller in such Transactions, at Seller’s option, to transfer to Buyer cash or additional Securities reasonably acceptable to Buyer
(“Additional Purchased Securities”), so that the cash and aggregate Market Value of the Purchased Securities, including any such Additional Purchased Securities, will thereupon equal or exceed such aggregate Buyer’s Margin
Amount (decreased by the amount of any Margin Deficit as of such date arising from any Transactions in which such Buyer is acting as Seller). 

  

	 	(b)	If at any time the aggregate Market Value of all Purchased Securities subject to all Transactions in which a particular party hereto is acting as Seller exceeds the aggregate Seller’s Margin Amount for all such
Transactions at such time (a “Margin Excess”), then Seller may by notice to Buyer require Buyer in such Transactions, at Buyer’s option, to transfer cash or Purchased Securities to Seller, so that the aggregate Market Value of
the Purchased Securities, after deduction of any such cash or any Purchased Securities so transferred, will thereupon not exceed such aggregate Seller’s Margin Amount (increased by the amount of any Margin Excess as of such date arising from
any Transactions in which such Seller is acting as Buyer). 

  

	 	(c)	 If any notice is given by Buyer or Seller under subparagraph (a) or (b) of this Paragraph at or before the Margin Notice Deadline on any business day,
the party receiving such notice shall transfer cash 

	 	
or Additional Purchased Securities as provided in such subparagraph no later than the close of business in the relevant market on such day. If any such notice is given after the Margin Notice
Deadline, the party receiving such notice shall transfer such cash or Securities no later than the close of business in the relevant market on the next business day following such notice. 

 

	 	(d)	Any cash transferred pursuant to this Paragraph shall be attributed to such Transactions as shall be agreed upon by Buyer and Seller. 

 

	 	(e)	Seller and Buyer may agree, with respect to any or all Transactions hereunder, that the respective rights of Buyer or Seller (or both) under subparagraphs (a) and (b) of this Paragraph may be exercised only
where a Margin Deficit or Margin Excess, as the case may be, exceeds a specified dollar amount or a specified percentage of the Repurchase Prices for such Transactions (which amount or percentage shall be agreed to by Buyer and Seller prior to
entering into any such Transactions). 

  

	 	f)	Seller and Buyer may agree, with respect to any or all Transactions hereunder, that the respective rights of Buyer and Seller under subparagraphs (a) and (b) of this Paragraph to require the elimination of a
Margin Deficit or a Margin Excess, as the case may be, may be exercised whenever such a Margin Deficit or Margin Excess exists with respect to any single Transaction hereunder (calculated without regard to any other Transaction outstanding under
this Agreement). 

  

	5.	Income Payments 

 Seller shall be entitled to receive an amount equal to all Income paid
or distributed on or in respect of the Securities that is not otherwise received by Seller, to the full extent it would be so entitled if the Securities had not been sold to Buyer. Buyer shall, as the parties may agree with respect to any
Transaction (or, in the absence of any such agreement, as Buyer shall reasonably determine in its discretion), on the date such Income is paid or distributed either (i) transfer to or credit to the account of Seller such Income with respect to
any Purchased Securities subject to such Transaction or (ii) with respect to Income paid in cash, apply the Income payment or payments to reduce the amount, if any, to be transferred to Buyer by Seller upon termination of such Transaction.
Buyer shall not be obligated to take any action pursuant to the preceding sentence (A) to the extent that such action would result in the creation of a Margin Deficit, unless prior thereto or simultaneously therewith Seller transfers to Buyer
cash or Additional Purchased Securities sufficient to eliminate such Margin Deficit, or (B) if an Event of Default with respect to Seller has occurred and is then continuing at the time such Income is paid or distributed. 

 

	6.	Security Interest 

 Although the parties intend that all Transactions hereunder be sales
and purchases and not loans, in the event any such Transactions are deemed to be loans, Seller shall be deemed to have pledged to Buyer as security for the performance by Seller of its obligations under each such Transaction, and shall be deemed to
have granted to Buyer a security interest in, all of the Purchased Securities with respect to all Transactions hereunder and all Income thereon and other proceeds thereof. 
  

	7.	Payment and Transfer 

 Unless otherwise mutually agreed, all transfers of funds hereunder
shall be in immediately available funds. All Securities transferred by one party hereto to the other party (i) shall be in suitable form for transfer or shall be accompanied by duly executed instruments of transfer or assignment in blank and
such other documentation as the party receiving possession may reasonably request, (ii) shall be transferred on the book-entry system of a Federal Reserve Bank, or (iii) shall be transferred by any other method mutually acceptable to
Seller and Buyer. 
  

	8.	Segregation of Purchased Securities 

 To the extent required by applicable law, all
Purchased Securities in the possession of Seller shall be segregated from other securities in its possession and shall be identified as subject to this Agreement. Segregation may be accomplished by appropriate identification on the books and records
of the holder, including a financial or securities intermediary or a clearing corporation. All of Seller’s interest in the Purchased Securities shall pass to Buyer on the Purchase Date and, unless otherwise agreed by Buyer and Seller, nothing
in this Agreement shall preclude Buyer from engaging in repurchase transactions with the 

 
Purchased Securities or otherwise selling, transferring, pledging or hypothecating the Purchased Securities, but no such transaction shall relieve Buyer of its obligations to transfer Purchased
Securities to Seller pursuant to Paragraph 3, 4 or 11 hereof, or of Buyer’s obligation to credit or pay Income to, or apply Income to the obligations of, Seller pursuant to Paragraph 5 hereof. 

Required Disclosure for Transactions in Which the Seller Retains Custody of the Purchased Securities 

Seller is not permitted to substitute other securities for those subject to this Agreement and therefore must keep Buyer’s securities
segregated at all times, unless in this Agreement Buyer grants Seller the right to substitute other securities. If Buyer grants the right to substitute, this means that Buyer’s securities will likely be commingled with Seller’s own
securities during the trading day. Buyer is advised that, during any trading day that Buyer’s securities are commingled with Seller’s securities, they [will]* [may]** be subject to liens granted by Seller to [its clearing bank]* [third
parties]** and may be used by Seller for deliveries on other securities transactions. Whenever the securities are commingled, Seller’s ability to resegregate substitute securities for Buyer will be subject to Seller’s ability to satisfy
[the clearing]* [any]** lien or to obtain substitute securities. 
  

	*	Language to be used under 17 C.F.R. § 403.4(e) if Seller is a government securities broker or dealer other than a financial institution. 

	**	Language to be used under 17 C.F.R. § 403.5(d) if Seller is a financial institution. 

  

	9.	Substitution 

  

	 	(a)	Seller may, subject to agreement with and acceptance by Buyer, substitute other Securities for any Purchased Securities. Such substitution shall be made by transfer to Buyer of such other Securities and transfer to
Seller of such Purchased Securities. After substitution, the substituted Securities shall be deemed to be Purchased Securities. 

  

	 	(b)	In Transactions in which Seller retains custody of Purchased Securities, the parties expressly agree that Buyer shall be deemed, for purposes of subparagraph (a) of this Paragraph, to have agreed to and accepted in
this Agreement substitution by Seller of other Securities for Purchased Securities; provided, however, that such other Securities shall have a Market Value at least equal to the Market Value of the Purchased Securities for which they
are substituted. 

  

	10.	Representations 

 Each of Buyer and Seller represents and warrants to the other that
(i) it is duly authorized to execute and deliver this Agreement, to enter into Transactions contemplated hereunder and to perform its obligations hereunder and has taken all necessary action to authorize such execution, delivery and
performance, (ii) it will engage in such Transactions as principal (or, if agreed in writing, in the form of an annex hereto or otherwise, in advance of any Transaction by the other party hereto, as agent for a disclosed principal),
(iii) the person signing this Agreement on its behalf is duly authorized to do so on its behalf (or on behalf of any such disclosed principal), (iv) it has obtained all authorizations of any governmental body required in connection with
this Agreement and the Transactions hereunder and such authorizations are in full force and effect and (v) the execution, delivery and performance of this Agreement and the Transactions hereunder will not violate any law, ordinance, charter,
by-law or rule applicable to it or any agreement by which it is bound or by which any of its assets are affected. On the Purchase Date for any Transaction Buyer and Seller shall each be deemed to repeat all the foregoing representations made by it.

	11.	Events of Default 

 In the event that (i) Seller fails to transfer or Buyer fails to
purchase Purchased Securities upon the applicable Purchase Date, (ii) Seller fails to repurchase or Buyer fails to transfer Purchased Securities upon the applicable Repurchase Date, (iii) Seller or Buyer fails to comply with Paragraph 4
hereof, (iv) Buyer fails, after one business day’s notice, to comply with Paragraph 5 hereof, (v) an Act of Insolvency occurs with respect to Seller or Buyer, (vi) any representation made by Seller or Buyer shall have been
incorrect or untrue in any material respect when made or repeated or deemed to have been made or repeated, or (vii) Seller or Buyer shall admit to the other its inability to, or its intention not to, perform any of its obligations hereunder
(each an “Event of Default”): 
  

	 	(a)	The nondefaulting party may, at its option (which option shall be deemed to have been exercised immediately upon the occurrence of an Act of Insolvency), declare an Event of Default to have occurred hereunder and, upon
the exercise or deemed exercise of such option, the Repurchase Date for each Transaction hereunder shall, if it has not already occurred, be deemed immediately to occur (except that, in the event that the Purchase Date for any Transaction has not
yet occurred as of the date of such exercise or deemed exercise, such Transaction shall be deemed immediately canceled). The nondefaulting party shall (except upon the occurrence of an Act of Insolvency) give notice to the defaulting party of the
exercise of such option as promptly as practicable. 

  

	 	(b)	In all Transactions in which the defaulting party is acting as Seller, if the nondefaulting party exercises or is deemed to have exercised the option referred to in subparagraph (a) of this Paragraph, (i) the
defaulting party’s obligations in such Transactions to repurchase ail Purchased Securities, at the Repurchase Price therefor on the Repurchase Date determined in accordance with subparagraph (a) of this Paragraph, shall thereupon become
immediately due and payable, (ii) all Income paid after such exercise or deemed exercise shall be retained by the nondefaulting party and applied to the aggregate unpaid Repurchase Prices and any other amounts owing by the defaulting party
hereunder, and (iii) the defaulting party shall immediately deliver to the nondefaulting party any Purchased Securities subject to such Transactions then in the defaulting party’s possession or control. 

 

	 	(c)	In all Transactions in which the defaulting party is acting as Buyer, upon tender by the nondefaulting party of payment of the aggregate Repurchase Prices for all such Transactions, all right, title and interest in and
entitlement to all Purchased Securities subject to such Transactions shall be deemed transferred to the nondefaulting party, and the defaulting party shall deliver all such Purchased Securities to the nondefaulting party. 

 

	 	(d)	If the nondefaulting party exercises or is deemed to have exercised the option referred to in subparagraph (a) of this Paragraph, the nondefaulting party, without prior notice to the defaulting party, may:

  

	 	(i)	as to Transactions in which the defaulting party is acting as Seller, (A) immediately sell, in a recognized market (or otherwise in a commercially reasonable manner) at such price or prices as the nondefaulting
party may reasonably deem satisfactory, any or all Purchased Securities subject to such Transactions and apply the proceeds thereof to the aggregate unpaid Repurchase Prices and any other amounts owing by the defaulting party hereunder or
(B) in its sole discretion elect, in lieu of selling all or a portion of such Purchased Securities, to give the defaulting party credit for such Purchased Securities in an amount equal to the price therefor on such date, obtained from a
generally recognized source or the most recent closing bid quotation from such a source, against the aggregate unpaid Repurchase Prices and any other amounts owing by the defaulting party hereunder; and 

 

	 	(ii)	as to Transactions in which the defaulting party is acting as Buyer, (A) immediately purchase, in a recognized market (or otherwise in a commercially reasonable manner) at such price or prices as the nondefaulting
party may reasonably deem satisfactory, securities (“Replacement Securities”) of the same class and amount as any Purchased Securities that are not delivered by the defaulting party to the nondefaulting party as required hereunder or
(B) in its sole discretion elect, in lieu of purchasing Replacement Securities, to be deemed to have purchased Replacement Securities at the price therefor on such date, obtained from a generally recognized source or the most recent closing
offer quotation from such a source. 

 Unless otherwise provided in Annex I, the parties acknowledge and agree that
(1) the Securities subject to any Transaction hereunder are instruments traded in a recognized market, (2) in the absence of a generally recognized source for prices or bid or offer quotations for any Security, the nondefaulting party may
establish the source therefor in its sole discretion and (3) all prices, bids and offers shall be determined together with accrued Income (except to the extent contrary to market practice with respect to the relevant Securities). 

	 	(e)	As to Transactions in which the defaulting party is acting as Buyer, the defaulting party shall be liable to the nondefaulting party for any excess of the price paid (or deemed paid) by the nondefaulting party for
Replacement Securities over the Repurchase Price for the Purchased Securities replaced thereby and for any amounts payable by the defaulting party under Paragraph 5 hereof or otherwise hereunder. 

 

	 	(f)	For purposes of this Paragraph 11, the Repurchase Price for each Transaction hereunder in respect of which the defaulting party is acting as Buyer shall not increase above the amount of such Repurchase Price for such
Transaction determined as of the date of the exercise or deemed exercise by the nondefaulting party of the option referred to in subparagraph (a) of this Paragraph. 

 

	 	(g)	The defaulting party shall be liable to the nondefaulting party for (i) the amount of all reasonable legal or other expenses incurred by the nondefaulting party in connection with or as a result of an Event of
Default, (ii) damages in an amount equal to the cost (including all fees, expenses and commissions) of entering into replacement transactions and entering into or terminating hedge transactions in connection with or as a result of an Event of
Default, and (iii) any other loss, damage, cost or expense directly arising or resulting from the occurrence of an Event of Default in respect of a Transaction. 

 

	 	(h)	To the extent permitted by applicable law, the defaulting party shall be liable to the nondefaulting party for interest on any amounts owing by the defaulting party hereunder, from the date the defaulting party becomes
liable for such amounts hereunder until such amounts are (i) paid in full by the defaulting party or (ii) satisfied in full by the exercise of the nondefaulting party’s rights hereunder. Interest on any sum payable by the defaulting
party to the nondefaulting party under this Paragraph 11(h) shall be at a rate equal to the greater of the Pricing Rate for the relevant Transaction or the Prime Rate. 

 

	 	(i)	The nondefaulting party shall have, in addition to its rights hereunder, any rights otherwise available to it under any other agreement or applicable law. 

 

	12.	Single Agreement 

 Buyer and Seller acknowledge that, and have entered hereinto and will
enter into each Transaction hereunder in consideration of and in reliance upon the fact that, all Transactions hereunder constitute a single business and contractual relationship and have been made in consideration of each other. Accordingly, each
of Buyer and Seller agrees (i) to perform all of its obligations in respect of each Transaction hereunder, and that a default in the performance of any such obligations shall constitute a default by it in respect of all Transactions hereunder,
(ii) that each of them shall be entitled to set off claims and apply property held by them in respect of any Transaction against obligations owing to them in respect of any other Transactions hereunder and (iii) that payments, deliveries
and other transfers made by either of them in respect of any Transaction shall be deemed to have been made in consideration of payments, deliveries and other transfers in respect of any other Transactions hereunder, and the obligations to make any
such payments, deliveries and other transfers may be applied against each other and netted. 
  

	13.	Notices and Other Communications 

 Any and all notices, statements, demands or other
communications hereunder may be given by a party to the other by mail, facsimile, telegraph, messenger or otherwise to the address specified in Annex II hereto, or so sent to such party at any other place specified in a notice of change of address
hereafter received by the other. All notices, demands and requests hereunder may be made orally, to be confirmed promptly in writing, or by other communication as specified in the preceding sentence. 

 

	14.	Entire Agreement; Severability 

 This Agreement shall supersede any existing agreements
between the parties containing general terms and conditions for repurchase transactions. Each provision and agreement herein shall be treated as separate and independent from any other provision or agreement herein and shall be enforceable
notwithstanding the unenforceability of any such other provision or agreement. 

	15.	Non-assignability; Termination 

  

	 	(a)	The rights and obligations of the parties under this Agreement and under any Transaction shall not be assigned by either party without the prior written consent of the other party, and any such assignment without the
prior written consent of the other party shall be null and void. Subject to the foregoing, this Agreement and any Transactions shall be binding upon and shall inure to the benefit of the parties and their respective successors and assigns. This
Agreement may be terminated by either party upon giving written notice to the other, except that this Agreement shall, notwithstanding such notice, remain applicable to any Transactions then outstanding. 

 

	 	(b)	Subparagraph (a) of this Paragraph 15 shall not preclude a party from assigning, charging or otherwise dealing with all or any part of its interest in any sum payable to it under Paragraph 11 hereof.

  

	16.	Governing Law 

 This Agreement shall be governed by the laws of the State of New York
without giving effect to the conflict of law principles thereof. 
  

	17.	No Waivers, Etc. 

 No express or implied waiver of any Event of Default by either party
shall constitute a waiver of any other Event of Default and no exercise of any remedy hereunder by any party shall constitute a waiver of its right to exercise any other remedy hereunder. No modification or waiver of any provision of this Agreement
and no consent by any party to a departure herefrom shall be effective unless and until such shall be in writing and duly executed by both of the parties hereto. Without limitation on any of the foregoing, the failure to give a notice pursuant to
Paragraphs 4(a) or 4(b) hereof will not constitute a waiver of any right to do so at a later date. 
  

	18.	Use of Employee Plan Assets 

  

	 	(a)	If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan
Party”) in a Transaction, the Plan Party shall so notify the other party prior to the Transaction. The Plan Party shall represent in writing to the other party that the Transaction does not constitute a prohibited transaction under ERISA or is
otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required to so proceed. 

  

	 	(b)	Subject to the last sentence of subparagraph (a) of this Paragraph, any such Transaction shall proceed only if Seller furnishes or has furnished to Buyer its most recent available audited statement of its financial
condition and its most recent subsequent unaudited statement of its financial condition. 

  

	 	(c)	By entering into a Transaction pursuant to this Paragraph, Seller shall be deemed (i) to represent to Buyer that since the date of Seller’s latest such financial statements, there has been no material adverse
change in Seller’s financial condition which Seller has not disclosed to Buyer, and (ii) to agree to provide Buyer with future audited and unaudited statements of its financial condition as they are issued, so long as it is a Seller in any
outstanding Transaction involving a Plan Party. 

  

	19.	Intent 

  

	 	(a)	The parties recognize that each Transaction is a “repurchase agreement” as that term is defined in Section 101 of Title 11 of the United States Code, as amended (except insofar as the type of Securities
subject to such Transaction or the term of such Transaction would render such definition inapplicable), and a “securities contract” as that term is defined in Section 741 of Title 11 of the United States Code, as amended (except
insofar as the type of assets subject to such Transaction would render such definition inapplicable). 

	 	(b)	It is understood that either party’s right to liquidate Securities delivered to it in connection with Transactions hereunder or to exercise any other remedies pursuant to Paragraph 11 hereof, is a contractual right
to liquidate such Transaction as described in Sections 555 and 559 of Title 11 of the United States Code, as amended. 

  

	 	(c)	The parties agree and acknowledge that if a party hereto is an “insured depository institution,” as such term is defined in the Federal Deposit Insurance Act, as amended (“FDIA”), then each
Transaction hereunder is a “qualified financial contract,” as that term is defined in FDIA and any rules, orders or policy statements thereunder (except insofar as the type of assets subject to such Transaction would render such definition
inapplicable). 

  

	 	(d)	It is understood that this Agreement constitutes a “netting contract” as defined in and subject to Title IV of the Federal Deposit Insurance Corporation Improvement Act of 1991 (“FDICIA”) and
each payment entitlement and payment obligation under any Transaction hereunder shall constitute a “covered contractual payment entitlement” or “covered contractual payment obligation”, respectively, as defined in and subject to
FDICIA (except insofar as one or both of the parties is not a “financial institution” as that term is defined in FDICIA). 

  

	20.	Disclosure Relating to Certain Federal Protections 

 The parties acknowledge that they
have been advised that: 
  

	 	(a)	in the case of Transactions in which one of the parties is a broker or dealer registered with the Securities and Exchange Commission (“SEC”) under Section 15 of the Securities Exchange Act of 1934
(“1934 Act”), the Securities Investor Protection Corporation has taken the position that the provisions of the Securities Investor Protection Act of 1970 (“SIPA”) do not protect the other party with respect to any
Transaction hereunder; 

  

	 	(b)	in the case of Transactions in which one of the parties is a government securities broker or a government securities dealer registered with the SEC under Section 15C of the 1934 Act, SIPA will not provide
protection to the other party with respect to any Transaction hereunder; and 

  

	 	(c)	in the case of Transactions in which one of the parties is a financial institution, funds held by the financial institution pursuant to a Transaction hereunder are not a deposit and therefore are not insured by the
Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund, as applicable. 

  

									
	BMO HARRIS BANK N.A.	 		 	LOANDEPOT.COM, LLC
					
	By:	 	

	 		 	By:	 	

		 	  
	 		 		 	  

		 	Catherine Crossley	 		 		 	
	Title:	 	 Vice President
	 		 	Title:	 	 CFO

					
	Date:	 	  
	 		 	Date:	 	  

 Signature Page - Repo Agreement 

 Annex I 

Supplemental Terms and Conditions 
 This
Annex I is among BMO Harris Bank N.A. (“Buyer”), Jefferies Funding LLC, as administrative agent for Buyer (“Agent”) and loanDepot.com, LLC (“Seller”) and forms a part of the Master Repurchase Agreement dated as of
August 25, 2015 (as amended, supplemented or otherwise modified from time to time, the “Agreement”) between Buyer and Seller. Capitalized terms used but not defined in this Annex I shall have the meanings ascribed to them in
the Agreement (including all Annexes hereto). 
  

	1.	Other Applicable Annexes. In addition to this Annex I and Annex II, the following Annexes shall form a part of the Agreement and shall be applicable thereunder: 

None. 
  

	2.	Inconsistency. In the event of any inconsistency between the terms of the Agreement and this Annex, this Annex shall govern. 

  

	3.	Rule of Construction. Save for the amendments made in this Annex I, the parties agree that the text of the body of the Agreement is intended to conform with the Master Repurchase Agreement dated September 1996
promulgated by The Bond Market Association and shall be construed accordingly. The parties agree that for the purpose of the Program Documents, all references to “Buyer” shall mean BMO Harris Bank N.A. and all references to
“Seller” shall mean loanDepot.com, LLC. Any and all references to “Purchased Securities” in the Agreement shall be deemed to refer to “Purchased Mortgage Loans”. Any and all references to “Securities” in the
Agreement shall be deemed to refer to “Mortgage Loans”. Any and all references to “Additional Purchased Securities” in the Agreement shall be deemed to refer to “Additional Purchased Mortgage Loans”. 

 

	4.	Applicability (Paragraph 1). The first sentence of Paragraph 1 of the Agreement is amended by deleting the sentence in its entirety and replacing it with the following: 

“From time to time the parties hereto may enter into transactions in which loanDepot.com, LLC (“Seller”) agrees to
transfer to BMO Harris Bank N.A. (“Buyer”) securities or other assets (“Securities”) against the transfer of funds by Buyer, with a simultaneous agreement by Buyer to transfer to Seller such Securities at a date
certain or on demand, against the transfer of funds by Seller. Buyer shall have the right to instruct the Agent to act as its administrative agent in connection with this Agreement and the Transactions thereunder as more fully specified
herein.” 
  

	5.	Definitions (Paragraph 2). Paragraph 2 of the Agreement is hereby amended to add the following definitions and, in any case where the definition already exists in Paragraph 2, the definition is deleted in
Paragraph 2 its entirety and replaced with the following: 

  

	 	(a)	“Ability to Repay Rule” shall mean 12 CFR 1026.43(c), including all applicable official staff commentary. 

  

	 	(b)	“Accepted Servicing Practices” shall mean those accepted, customary and prudent mortgage servicing practices and procedures (including collection procedures) of prudent mortgage lending institutions
which service mortgage loans of the same type as the Mortgage Loans in the jurisdiction where the related Mortgaged Property is located, and which are in accordance with the requirements of each Agency Program, applicable law, FHA regulations and VA
regulations and the requirements of any private mortgage insurer so that the FHA insurance, VA guarantee or any other applicable insurance or guarantee in respect of any Mortgage Loan is not voided or reduced. 

 

	 	(c)	 “Affiliate” shall mean, with respect to any Person, any other Person which, directly or indirectly, controls, is controlled by, or is
under common control with, such Person. For purposes of this definition, “control” (together with the correlative meanings of “controlled 

  
 A-I-1 

	 	
by” and “under common control with”) means possession, directly or indirectly, of the power (a) to vote 10% or more of the securities (on a fully diluted basis) having
ordinary voting power for the directors or managing general partners (or their equivalent) of such Person, or (b) to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities,
by contract, or otherwise. 

  

	 	(d)	“Agency Guide” shall mean the FHLMC Guide, the FNMA Guide or the GNMA Guide, as applicable. 

  

	 	(e)	“Agency Program” shall mean the FHLMC Program, the FNMA Program or the GNMA Program, as applicable. 

  

	 	(f)	“Agent” shall mean Jefferies Funding LLC, in its capacity as administrative agent for Buyer, together with its successors and permitted assigns. 

 

	 	(g)	“Applicable Agency” shall mean GNMA, FNMA or FHLMC, as applicable. 

  

	 	(h)	“Approvals” shall mean, with respect to Seller, the approvals obtained by the Applicable Agency in designation of Seiler as a GNMA-approved issuer, a GNMA-approved servicer, a FHA-approved mortgagee, a
VA-approved lender, a FNMA approved Seller/Servicer or a FHLMC approved Seller/Servicer, as applicable, in good standing. 

  

	 	(i)	“Approved Title Insurance Company” shall mean a title insurance company that has not been disapproved by Buyer in its reasonable discretion in a written notice delivered to the Seller by Buyer.

  

	 	(j)	“Applicable Margin” shall have the meaning assigned thereto in the Pricing Side Letter. 

  

	 	(k)	“Applicable Percentage” shall have the meaning assigned thereto in the Pricing Side Letter. 

  

	 	(l)	“Assignment of Mortgage” shall mean, with respect to any Mortgage, an assignment of the Mortgage, notice of transfer or equivalent instrument in recordable form, sufficient under the laws of the
jurisdiction wherein the related Mortgaged Property is located to reflect the assignment of the Mortgage to Buyer. 

  

	 	(m)	“Bankruptcy Code” shall mean Title 11 of the United States Code, as amended from time to time. 

  

	 	(n)	“Business Day” or “business day” shall mean any day other than (i) a Saturday or Sunday, (ii) a day on which the New York Stock Exchange, the Federal Reserve Bank of New York,
or banking and savings and loan institutions in the State of New York or the City of New York are closed, or (iii) a day on which trading in securities on the New York Stock Exchange or any other major securities exchange in the United States
is not conducted. 

  

	 	(o)	“Buyer’s Margin Percentage” shall have the meaning assigned thereto in the Pricing Side Letter. 

  

	 	(p)	 “Cash Equivalents” shall mean (a) securities with maturities of 90 days or less from the date of acquisition issued or fully
guaranteed or insured by the United States Government or any agency thereof, (b) certificates of deposit and Eurodollar time deposits with maturities of 90 days or less from the date of acquisition and overnight bank deposits of any commercial bank
having capital and surplus in excess of $500,000,000, (c) repurchase obligations of any commercial bank satisfying the requirements of clause (b) of this definition, having a term of not more than seven days with respect to securities issued or
fully guaranteed or insured by the United States Government, (d) commercial 

  
 A-I-2 

	 	
paper of a domestic issuer rated at least A-1 or the equivalent thereof by Standard and Poor’s Ratings Group (“S&P”) or P-1 or the equivalent thereof by Moody’s
Investors Service, Inc. (“Moody’s”) and in either case maturing within 90 days after the day of acquisition, (e) securities with maturities of 90 days or less from the date of acquisition issued or fully guaranteed by any
state, commonwealth or territory of the United States, by any political subdivision or taxing authority of any such state, commonwealth or territory or by any foreign government, the securities of which state, commonwealth, territory, political
subdivision, taxing authority or foreign government (as the case may be) are rated at least A by S&P or A by Moody’s, (f) securities with maturities of 90 days or less from the date of acquisition backed by standby letters of credit
issued by any commercial bank satisfying the requirements of clause (b) of this definition, or (g) shares of money market mutual or similar funds which invest exclusively in assets satisfying the requirements of clauses (a) through
(f) of this definition. 

  

	 	(q)	“Change of Control” shall mean the acquisition by any Person, or two or more Persons acting in concert, of beneficial ownership (within the meaning of Rule 13d-3 of the Securities and Exchange
Commission under the Securities Exchange Act of 1934) of outstanding shares of voting stock of Seller at any time if after giving effect to such acquisition such Person or Persons owns 50% or more of such outstanding voting stock. 

 

	 	(r)	“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 

  

	 	(s)	“Collection Account” shall mean the account, if any, established pursuant to Paragraph 22(x) of this Annex at the account bank designated by Buyer into which all Income shall be deposited by Seller or
Servicer, which account shall be subject to a control agreement in favor of Buyer. 

  

	 	(t)	“Combined Loan to Value Ratio” or “CLTV” shall mean with respect to any Mortgage Loan, the ratio of (i) the original outstanding principal amount of the Mortgage Loan and any other
loan which is secured by a lien on the related Mortgaged Property to (ii) the lesser of (a) the appraised value of the Mortgaged Property at origination of such Mortgage Loan, or (b) if the Mortgaged Property was purchased within
twelve (12) months of the origination of the Mortgage Loan, the purchase price of the Mortgaged Property. 

  

	 	(u)	“Custodial Agreement” shall mean the Custodial and Disbursement Agreement dated of the date hereof among Seller, Buyer, Agent, Custodian and Disbursement Agent, as the same shall be modified and
supplemented and in effect from time to time. 

  

	 	(v)	“Custodian” shall mean Deutsche Bank National Trust Company and its permitted successors under the Custodial Agreement. 

 

	 	(w)	“Debt Yield Ratio” shall mean, with respect to any Mortgaged Property or Properties directly or indirectly securing an Asset, the quotient (expressed as a percentage) of (i) net operating income
for the trailing twelve-month period for the most recently ended fiscal quarter, divided by (ii) the total amount of indebtedness secured directly or indirectly by such Mortgaged Property or Properties that is senior to or pari passu
with such Asset. 

  

	 	(x)	“Default” shall mean an Event of Default or an event that with notice or lapse of time or both would become an Event of Default. 

 

	 	(y)	“Defective Mortgage Loan” shall mean a Mortgage Loan that is not in Strict Compliance with the Agency Program. 

  

	 	(z)	“Disbursement Account” shall mean the account established by Buyer pursuant to which funds shall be disbursed to fund any Wet Loan. 

  
 A-I-3 

 [***] - Confidential portions of this document have been redacted and filed separately with the
Commission. 
  
  
  

	 	(aa)	“Disbursement Agent” shall mean Deutsche Bank National Trust Company, or its successors and permitted assigns, or such other disbursement agent as may be mutually agreed to by Buyer and Seller.

  

	 	(bb)	“Electronic Tracking Agreement” shall mean shall mean the electronic tracking agreement dated as of the date hereof among Buyer, Seller, MERSCORP, Inc. and MERS, as the same may be amended, supplemented
or otherwise modified from time to time. 

  

	 	(cc)	“Eligible Mortgage Loan” shall mean a Mortgage Loan that satisfies each of the loan-level representations and warranties set forth on Schedule 1 hereto, and is otherwise deemed by Buyer in its sole
discretion to be eligible for purchase hereunder. No Mortgage Loan shall be an Eligible Mortgage Loan (i) if the Purchase Price of such Mortgage Loan, when added to the aggregate outstanding Purchase Price of all Purchased Mortgage Loans that
are then subject to Transactions, exceeds the Maximum Aggregate Purchase Price, (ii) as of the related Purchase Date such Mortgage Loan is more than thirty (30) calendar days aged since origination, (iii) if such Mortgage Loan is subject
to a Transaction for more than [***] days (whether or not consecutive), provided, that up to [***] percent ([***]%) of all such Mortgage Loans may, at any time, be greater than [***] days but less than [***] days (iv) if such Mortgage
Loan is a Defective Mortgage Loan, or is not otherwise eligible for sale to securitization by Fannie Mae or Freddie Mac or insurance by Ginne Mae, (v) if such Mortgage Loan is in default at any time prior to the Repurchase Date, or (vi) if
such Mortgage Loan is a Wet Loan, it has remained a Wet Loan for more than [***] Business Days after the related Purchase Date. Buyer shall have the right to mark the Market Value of any Mortgage Loan that does not satisfy the foregoing criteria to
zero or Buyer otherwise deems ineligible, unless Buyer and Seller otherwise agree. 

  

	 	(dd)	“Eligible Property” shall mean a Mortgaged Property that satisfies the requirements of subsection (h) of Schedule 1 to this Agreement or such other property type acceptable to Buyer in its sole
discretion. 

  

	 	(ee)	“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time. 

  

	 	(ff)	“ERISA Affiliate” shall mean any entity or trade or business that is a member of any group of organizations described in Section 414(b), (c), (m) of (o) of the Code of which Seller is a
member. 

  

	 	(gg)	“Escrow Instruction Letter” shall mean, with respect to any Wet Loan that becomes subject to a Transaction before the end of the applicable Rescission period, an escrow agreement or letter, which is
fully assignable to Buyer, stating that in the event of a Rescission or if for any other reason such Loan fails to fund on a given day, the party conducting the closing is holding all funds which would have been disbursed on behalf of the Mortgagor
as agent for and for the benefit of Buyer and such funds shall be redeposited in the Disbursement Account for the benefit of Buyer not later than one (1) Business Day after the date of Rescission or other failure of the Loan to fund on a given
day. 

  

	 	(hh)	“Escrow Payments” shall mean, with respect to any Mortgage Loan, the amounts constituting ground rents, taxes, assessments, water charges, sewer rents, municipal charges, mortgage insurance premiums,
fire and hazard insurance premiums, condominium charges, and any other payments required to be escrowed by the Mortgagor with the Mortgagee pursuant to the terms of any Note or Mortgage or any other document. 

 

	 	(ii)	“Expiration Date” shall have the meaning assigned thereto in the Pricing Side Letter. 

  
 A-I-4 

	 	(jj)	“FHA” shall mean the Federal Housing Administration or any successor thereto. 

  

	 	(kk)	“FHA Policy” shall mean a mortgage insurance policy administered by the FHA with respect to reverse mortgage loans in accordance with the FHA Regulations, the HUD Handbook and other HUD publications
relating to the Mortgage Loans, including, without limitation, related handbooks, circulars, notices and mortgagee letters. 

  

	 	(ll)	“FHA Regulations” shall mean the FHA Single Family/Federal Housing Administration (24 C.F.R. 200 to 299)/Subchapter B: Mortgage and Loan Insurance Programs Under National Housing Act and Other
Authorities/Part 206: Home Equity Conversion Mortgage Insurance, as amended from time to time. 

  

	 	(mm)	“FHLMC” or “Freddie Mac” shall mean Freddie Mac or any successor thereto. 

  

	 	(nn)	“FHLMC Guide” shall mean the Freddie Mac Sellers’ and Servicers’ Guide, as such Guide may hereafter from time to time be amended including modifications and variances applicable to Seller.

  

	 	(oo)	“FHLMC Mortgage Loan” shall mean a mortgage loan that is in Strict Compliance with the eligibility requirements specified for the applicable FHLMC Program described in the FHLMC Guide.

  

	 	(pp)	“FHLMC Program” shall mean the FHLMC Home Mortgage Guarantor Program or the FHLMC FHA/VA Home Mortgage Guarantor Program, as described in the FHLMC Guide. 

 

	 	(qq)	“FNMA” or “Fannie Mae” shall mean Fannie Mae or any successor thereto. 

  

	 	(rr)	“FNMA Guide” shall mean the Fannie Mae MBS Selling and Servicing Guide, as such Guide may hereafter from time to time be amended including modifications and variances applicable to Seller.

  

	 	(ss)	“FNMA Mortgage Loan” shall mean a mortgage loan that is in Strict Compliance with the eligibility requirements specified for the applicable FNMA Program described in the FNMA Guide. 

 

	 	(tt)	“FNMA Program” shall mean the Fannie Mae Guaranteed Mortgage-Backed Securities Program, as described in the Fannie Mae Guide. 

 

	 	(uu)	“GAAP” shall mean generally accepted accounting principles as in effect from time to time in the United States of America. 

 

	 	(vv)	“Governmental Authority” shall mean any nation or government, any state or other political subdivision thereof, agency or instrumentality thereof, any entity exercising executive, legislative, judicial,
regulatory or administrative functions of or pertaining to government and any court or arbitrator having jurisdiction over a Person, any of its Subsidiaries or any of its properties. 

 

	 	(ww)	“GNMA” shall mean the Government National Mortgage Association or any successor thereto. 

  

	 	(xx)	“GNMA Guide” shall mean the GNMA Mortgage-Backed Securities Guide I or II, as such Guide may hereafter from time to time be amended including modifications and variances applicable to Seller.

  

	 	(yy)	“GNMA Mortgage Loan” shall mean a mortgage loan that is in Strict Compliance with the eligibility requirements specified for the applicable GNMA Program in the applicable GNMA Guide. 

  
 A-I-5 

	 	(zz)	“GNMA Program” shall mean the Ginnie Mae Mortgage-Backed Securities Program, as described in the Fannie Mae Guide. 

  

	 	(aaa)	“HUD” shall mean the United States Department of Housing and Urban Development or any successor thereto. 

  

	 	(bbb)	“HUD Handbook” shall mean regulations promulgated by HUD under the National Housing Act, codified in 24 Code of Federal Regulations, and other HUD issuances relating to HECM Loans, including, but not
limited to, the HUD Home Equity Conversion Mortgage Handbook 4235.1 REV-1 and any subsequent revisions thereto and any other handbook or Mortgagee Letters, circulars, notices or other issuances issued by HUD applicable to the Mortgage Loans, as
amended, modified, updated or supplemented from time to time. 

  

	 	(ccc)	“Indebtedness” shall mean, for any Person, all current and long term liabilities, including without limitation: (a) all obligations for borrowed money; (b) obligations of such Person to pay
the deferred purchase or acquisition price of Property or services, other than trade accounts payable (other than for borrowed money) arising, and accrued expenses incurred, in the. ordinary course of business so long as such trade accounts payable
are payable within ninety (90) days of the date the respective goods are delivered or the respective services are rendered; (c) indebtedness of others secured by a lien on the Property of such Person, whether or not the respective
indebtedness so secured has been assumed by such Person; (d) obligations (contingent or otherwise) of such Person in respect of letters of credit or similar instruments issued for account of such Person; (e) capital lease obligations of
such Person; (f) obligations of such Person under repurchase agreements or like arrangements; (g) indebtedness of others guaranteed on a recourse basis by such Person; (h) all obligations of such Person incurred in connection with the
acquisition or carrying of fixed assets by such Person; (i) indebtedness of general partnerships of which such Person is a general partner; and (j) any other contingent liabilities of such Person. 

 

	 	(ddd)	“Instruction Letter” shall mean a letter agreement between Seller and each Servicer or interim servicer of the Purchased Mortgage Loans in a form acceptable to Buyer in its sole and absolute discretion,
in which such Persons acknowledge Buyer’s ownership interest in the Purchased Mortgage Loans, and agree to remit any collections with respect to the Purchased Mortgage Loans as Buyer may so direct from time to time, which Instruction Letter may
be delivered by Buyer to such Servicer in its sole discretion. 

  

	 	(eee)	“Insured Closing Letter” shall mean, with respect to any Wet Loan that becomes subject to a Transaction before the end of the applicable Rescission period, a letter of indemnification from an Approved
Title Insurance Company, in any jurisdiction where insured closing letters are permitted under applicable law and regulation, addressed to Seller, which is fully assignable to Buyer, with coverage that is customarily acceptable to Persons engaged in
the origination of mortgage loans identifying the Settlement Agent covered thereby, which may be in the form of a blanket letter for each relevant jurisdiction. 

  

	 	(fff)	“Interest Period” shall mean, with respect to any Transaction, the period commencing on the Purchase Date with respect to such Transaction and ending on the calendar day prior to the related Repurchase
Date. Notwithstanding the foregoing, no Interest Period may end after the Termination Date. 

  

	 	(ggg)	“Investment Company Act” shall mean the Investment Company Act of 1940, as amended, including all rules and regulations promulgated thereunder. 

 

	 	(hhh)	 “LIBOR” means the rate determined daily by Buyer on the basis of the offered rate for one-month U.S. dollar deposits, as such rate
appears on Reuters Screen LIBOR01 Page 

  
 A-I-6 

	 	
as of 11:00 a.m. (London time) on such date (rounded up to the nearest whole multiple of 1/16%); provided that if such rate does not appear on Reuters Screen LIBOR01 Page, the rate for such date
will be the rate determined by reference to such other comparable publicly available service publishing such rates as may be selected by Buyer in its sole discretion and communicated to Seller. Notwithstanding anything to the contrary herein,
(i) Buyer may re-set LIBOR on a daily basis and (ii) LIBOR shall not be less than 0.00%. 

  

	 	(iii)	“Lien” shall mean any security interest, mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), or preference, priority or other security agreement or
preferential arrangement of any kind or nature whatsoever, including, without limitation, any conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing, and the
filing of any financing statement executed by or on behalf of the debtor named therein under the UCC or comparable law of any jurisdiction. 

  

	 	(jjj)	“Liquidity” shall mean cash and Cash Equivalents of Seller, together with undrawn availability under any committed warehouse facility that is similar in nature to the facility provided under this
Agreement under which Seller is a borrower. 

  

	 	(kkk)	“Loan to Value Ratio” or “LTV” shall mean with respect to any Mortgage Loan, the ratio of the outstanding principal amount of such Mortgage Loan at the time of origination to the lesser
of (a) the appraised value of the related Mortgaged Property at origination of such Mortgage Loan and (b) if the related Mortgaged Property was purchased within twelve (12) months of the origination of such Mortgage Loan, the purchase
price of the related Mortgaged Property. 

  

	 	(lll)	“Margin Notice Deadline” shall mean 10:00 A.M. (New York time), unless otherwise agreed to between the parties with respect to any Transaction. 

 

	 	(mmm)	“Market Value” shall mean the value, determined in good faith by Agent on Buyer’s behalf, of the Purchased Mortgage Loans if sold in their entirety to a single third-party purchaser taking into
account the fact that the underlying Mortgage Loans may be sold under circumstances in which the Seller is in default under this Agreement. Buyer shall have the right to cause Agent to mark to market the Purchased Mortgage Loans on a daily basis
which Market Value with respect to one or more of the Purchased Mortgage Loans may be determined to be zero. Seller acknowledges that the determination of Market Value is for the limited purpose of determining the value of Purchased Mortgage Loans
which are subject to Transactions hereunder without the ability to perform customary purchaser’s due diligence and is not necessarily equivalent to a determination of the fair market value of the Mortgage Loans achieved by obtaining competing
bids in an orderly market in which the originator/servicer is not in default under a warehouse or mortgage repurchase debt facility and the bidders have adequate opportunity to perform customary Mortgage Loan and servicing due diligence.
Agent’s determination of Market Value shall be conclusive and binding upon the parties, absent manifest error to the extent that Agent determines Market Value hereunder in substantially the same manner as it determines market value for similar
transactions where the Agent is a buyer or is acting as agent for other buyers. Buyer and Seller acknowledge and agree that (i) any mark to market will be based on data obtained from one or more of the following: indications of interest, bids,
offers, last sale prices or other sources prevailing at approximately the close of business on the relevant date, but which do not necessarily reflect firm bids or offers or actual trade prices, (ii) such mark will not be verified or tested
independently by Agent, (iii) Agent shall have no duty to provide any updates to any such mark more frequently than once per Business Day, and (iv) such mark may differ substantially from actual values or actionable valuations, may vary
significantly from price estimates from other sources, may not necessarily reflect Agent’s internal bookkeeping or theoretical model-based prices and may be substantially affected by various factors, such as size, underlying volatility, and
costs of carry, which may not be assessed in determining such mark. The Market Value shall be deemed to be zero with respect to each Mortgage Loan that is not an Eligible Mortgage Loan. 

  
 A-I-7 

	 	(nnn)	“Maximum Aggregate Purchase Price” shall mean $100,000,000 or such other amount as may be agreed to by the parties in writing (which shall include e-mail transmission). 

 

	 	(ooo)	“Material Adverse Effect” shall mean a material adverse effect on (a) the property, business, operations or financial condition of Seller, (b) the ability of Seller to perform its obligations
under any of the Program Documents to which it is a party, (c) the validity or enforceability of any material provision of the Program Documents, (d) the rights and remedies of Buyer under any of the Program Documents, (e) the timely
repurchase of the Purchased Mortgage Loans or payment of other amounts payable in connection therewith or (f) the Purchased Items taken as a whole. 

  

	 	(ppp)	“MERS” shall mean Mortgage Electronic Registration Systems, Inc., a Delaware corporation, or any successor in interest thereto. 

 

	 	(qqq)	“MERS Identification Number” shall mean the eighteen digit number permanently assigned to each MERS Mortgage Loan. 

  

	 	(rrr)	“MERS Mortgage Loan” shall mean any Mortgage Loan as to which the related Mortgage or Assignment of Mortgage has been recorded in the name of MERS, as agent for the holder from time to time of the Note,
and which is identified as a MERS Mortgage Loan on the related Mortgage Loan Schedule. 

  

	 	(sss)	“Mortgage” shall mean with respect to a Mortgage Loan, the mortgage, deed of trust or other instrument, which creates a first lien on the fee simple estate in such real property which secures the Note.

  

	 	(ttt)	“Mortgage File” shall mean, with respect to each Mortgage Loan, the related files required to be delivered to the Custodian by the Seller pursuant to the Custodial Agreement. 

 

	 	(uuu)	“Mortgage Loan” shall mean a first Lien GNMA Mortgage Loan, FNMA Mortgage Loan, FHLMC Mortgage Loan, Wet Loan or any mortgage loan that is secured by an Eligible Property, which Custodian has been
instructed to hold for Buyer pursuant to the Custodial Agreement, and which Mortgage Loan includes, without limitation, (i) a Note, the related Mortgage and all other related loan documents, (ii) all right, title and interest of Seller in
and to the Mortgaged Property covered by such Mortgage and (iii) the related Servicing Rights. 

  

	 	(vvv)	“Mortgage Loan Documents” shall mean, with respect to each Mortgage Loan, the documents comprising the Mortgage Loan File for such Mortgage Loan, which shall include each of the documents set forth on
Schedule 2 hereto. 

  

	 	(www)	“Mortgage Loan Schedule” shall mean the list of Purchased Mortgage Loans or Mortgage Loans proposed to be purchased by Buyer that will be delivered in hard copy or electronic format to Buyer and Agent
and shall incorporate the fields delivered to the Seller by Agent or Buyer and any other information required by Agent or Buyer and any other additional information to be provided pursuant to the Custodial Agreement. 

 

	 	(xxx)	“Mortgaged Property” shall mean the real property (including all improvements, buildings, fixtures, building equipment and personal property thereon and all additions, alterations and replacements made
at any time with respect to the foregoing) and all other collateral securing repayment of the debt evidenced by a Note. 

  
 A-I-8 

	 	(yyy)	“Mortgagor” shall mean the obligor or obligors on a Note, including any person who has assumed or guaranteed the obligations of the obligor thereunder. 

 

	 	(zzz)	“Multiemployer Plan” shall mean, with respect to any Person, a “multiemployer plan” as defined in Section 4001(a)(3) of ERISA which is or was at any time during the current year or the
immediately preceding five years contributed to by Seller or any ERISA Affiliate thereof on behalf of its employees and which is covered by Title IV of ERISA. 

  

	 	(aaaa)	“Net Income” shall mean, for any period, the net income of Seller for such period as determined in accordance with GAAP. 

 

	 	(bbbb)	“Net Worth” shall mean, with respect to any Person, the excess of total assets of such Person, over total liabilities of such Person, determined in accordance with GAAP. 

 

	 	(cccc)	“Note” shall mean, with respect to any Mortgage Loan, the related promissory note together with all riders thereto and amendments thereof or other evidence of indebtedness of the related Mortgagor.

  

	 	(dddd)	“Obligations” shall mean (a) all of Seller’s obligation to pay the Repurchase Price on the Repurchase Date and other obligations and liabilities of Seller to Buyer, or Agent on Buyer’s
behalf, or any other Person arising under, or in connection with, the Program Documents or directly related to the Purchased Mortgage Loans, whether now existing or hereafter arising; (b) any and all sums paid by or on behalf of Buyer pursuant
to the Program Documents in order to preserve any Purchased Mortgage Loan or its interest therein; and, (c) in the event of any proceeding for the collection or enforcement of any of Seller’s indebtedness, obligations or liabilities
referred to in clause (a), the reasonable expenses of retaking, holding, collecting, preparing for sale, selling or otherwise disposing of or realizing on any Purchased Mortgage Loan, or of any exercise by Buyer of its rights under the Program
Documents, including without limitation, reasonable attorneys’ fees and disbursements and court costs. 

  

	 	(eeee)	“PBGC” shall mean the Pension Benefit Guaranty Corporation or any entity succeeding to any or all of its functions under ERISA. 

 

	 	(ffff)	“Person” shall mean any legal person, including any individual, corporation, partnership, association, joint-stock company, trust, limited liability company, unincorporated organization, governmental
entity (or any agency, instrumentality or political subdivision thereof) or other entity of similar nature. 

  

	 	(gggg)	“Plan” shall mean an employee benefit or other plan established or maintained by either Seller or any ERISA Affiliate and that is covered by Title IV of ERISA, other than a Multiemployer Plan.

  

	 	(hhhh)	“Post-Default Rate” shall mean, for each Transaction, the percentage set forth in the respective Confirmation. 

  

	 	(iiii)	“Pricing Rate” shall as of any date of determination, be equal to the sum of (i) LIBOR plus (ii) the Applicable Margin. The Pricing Rate is calculated on the basis of a 360-day year and the
actual number of days elapsed between the Purchase Date and the Repurchase Date. 

  

	 	(jjjj)	“Pricing Side Letter” shall mean that certain pricing side letter, dated as of August 25, 2015, by and among Buyer, Agent and Seller, as the same may be amended, supplemented or otherwise modified
from time to time. 

  

	 	(kkkk)	 “Program Documents” shall mean this Agreement and all Annexes, schedules and addendums, the Custodial Agreement, the Pricing Side
Letter, the Electronic Tracking 

  
 A-I-9 

 [***] - Confidential portions of this document have been redacted and filed separately with the
Commission. 
  
  

	 	Agreement, any Instruction Letter, any servicing agreement and any other agreement entered into by Seller, on the one hand, and Buyer and/or Agent and/or any of Buyer’s Affiliates or Subsidiaries (or custodian or
agent on its behalf) on the other, in connection herewith or therewith and designated as a Program Document. 

  

	 	(llll)	“Property” shall mean any right or interest in or to property of any kind whatsoever, whether real, personal or mixed and whether tangible or intangible. 

 

	 	(mmmm)	“Purchase Price” shall mean the price at which Purchased Mortgage Loans are transferred by Seller to Buyer in a Transaction, which shall be equal to the product of the Applicable Percentage multiplied
by the Market Value of the related Purchased Mortgage Loans. 

  

	 	(nnnn)	The term of “Purchased Securities” and its corresponding definition shall be deleted in its entirety and replaced with the term “Purchased Mortgage Loans” and the following definition:

  

	 	(oooo)	“Purchased Mortgage Loans” shall mean all Mortgage Loans, together with the related records and servicing rights, transferred by Seller to Buyer in a Transaction hereunder. The term “Purchased
Mortgage Loans” with respect to any Transaction at any time also shall include any Additional Purchased Mortgage Loans delivered pursuant to Paragraph 4(a) of the Agreement. 

 

	 	(pppp)	“QM Rule” shall mean 12 CFR 1026.43(e), including all applicable official staff commentary. 

  

	 	(qqqq)	“Qualified Mortgage” shall mean a Mortgage Loan that satisfies the criteria for a “qualified mortgage” as set forth in the QM Rule. 

 

	 	(rrrr)	“Rebuttable Presumption Qualified Mortgage” shall mean a Qualified Mortgage with an annual percentage rate that exceeds the average prime offer rate for a comparable mortgage loan as of the date the
interest rate is set by 1.5 or more percentage points for a first-lien Mortgage Loan or by 3.5 or more percentage points for a subordinate-lien Mortgage Loan. 

  

	 	(ssss)	““Repurchase Date” shall mean the date on which Seller is to repurchase the Purchased Mortgage Loans from Buyer, which date shall occur on (i) the Business Day set forth in the related
Confirmation or if no Confirmation is provided, no later than forty-five (45) days after the related Purchase Date, provided that up to [***] percent ([***]%) of the Purchased Mortgage Loans may be repurchased more than [***] days after related
Purchase Date but no more than [***] days after the related Purchase Date, (ii) the Termination Date, or (iii) at the option of Buyer, the date determined by application of Paragraph 11 hereof. 

 

	 	(tttt)	“Required Documents”: Those documents identified in Section 2(a) of the Custodial Agreement. 

  

	 	(uuuu)	“Requirement of Law” shall mean as to any Person, the certificate of incorporation and by-laws or other organizational or governing documents of such Person, and any law, treaty, rule or regulation
(including without limitation the Investment Company Act of 1940, as amended) or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which
such Person or any of its property is subject. 

  

	 	(vvvv)	“Rescission” shall mean the right of a Mortgagor to rescind the related Note and related documents pursuant to applicable law and regulation. 

  
 A-I-10 

	 	(wwww)	“Responsible Officer” means, as to any Person, the chief executive officer or, with respect to financial matters, the chief financial officer of such Person; provided, that in the event any such officer
is unavailable at any time he or she is required to take any action hereunder, Responsible Officer shall mean any officer authorized to act on such officer’s behalf as demonstrated by a certificate of corporate resolution. 

 

	 	(xxxx)	“Reuters Screen LIBOR01 Page” shall mean the display page currently so designated on the Reuters Monitor Money Rates Service (or such other page as may replace that page on that service for the purpose
of displaying comparable rates or prices). 

  

	 	(yyyy)	“Safe Harbor Qualified Mortgage” shall mean a Qualified Mortgage with an annual percentage rate that does not exceed the average prime offer rate for a comparable mortgage loan as of the date the
interest rate is set by 1.5 or more percentage points for a first-lien Mortgage Loan or by 3.5 or more percentage points for a subordinate-lien Mortgage Loan. 

  

	 	(zzzz)	“Servicer” shall mean the servicer of the Purchased Mortgage Loans specified in the relevant Confirmation, or any successor thereto. 

 

	 	(aaaaa)	“Servicing File” shall mean, with respect to each Purchased Mortgage Loan, the file retained by the Servicer consisting of (1) originals of all applicable documents in the related loan file as
described in the Custodial Agreement (if any) which are not delivered to Buyer or Agent (or any other designee of Buyer), (2) copies of any other applicable documents in such loan file for such Purchased Mortgage Loan maintained by the Servicer
and (3) all other documents and records maintained by the Servicer in respect of such Purchased Mortgage Loan pursuant to a servicing agreement, including, without limitation the Servicing Records. 

 

	 	(bbbbb)	“Servicing Records” shall mean all servicing records, including but not limited to any and all servicing agreements, files, documents, records, data bases, computer tapes, copies of computer tapes,
proof of insurance coverage, insurance policies, appraisals, other closing documentation, payment history records, and any other records relating to or evidencing the servicing of the Purchased Mortgage Loans. 

 

	 	(ccccc)	“Servicing Rights” shall mean contractual, possessory or other rights of Seller, Servicer or any other Person, whether arising under any servicing agreement, the Custodial Agreement (if any) or
otherwise to administer or service any Purchased Mortgage Loan or to possess related Servicing Files. 

  

	 	(ddddd)	“Servicing Transfer Date” shall mean such date as may be mutually agreed to by the relevant Servicer and Buyer on which servicing of the Purchased Mortgage Loans are to be transferred to a successor
servicer. 

  

	 	(eeeee)	“Settlement Agent” shall mean a title company, escrow company or attorney that is (i) bonded by an Approved Title Insurance Company and (ii) insured against errors and omissions in an amount
reasonably satisfactory to Buyer in its sole discretion, to which the proceeds of any Transaction related to a Wet Loan are to be wired prior to the occurrence of such Transaction in accordance with local law and practice in the jurisdiction where
the related Wet Loan is being originated. 

  

	 	(fffff)	“Strict Compliance” shall mean compliance of Seller and the Mortgage Loans with the requirements of the Agency Guide as amended by any agreements between Seller and the Applicable Agency, sufficient to
enable Seller to sell such Mortgage Loans to the Applicable Agency through the cash window or to issue and GNMA to guarantee or FNMA or FHLMC to issue and guarantee a mortgage-backed security; provided, that until copies of any such agreements
between Seller and the Applicable Agency have been provided to Buyer and Agent by Seller and agreed to by Buyer, such agreements shall be deemed, as between Seller and Buyer, not to amend the requirements of the Agency Guide. 

  
 A-I-11 

	 	(ggggg)	“Subsidiary” shall mean, with respect to any Person, any corporation, partnership or other entity of which at least a majority of the securities or other ownership interests having by the terms thereof
ordinary voting power to elect a majority of the board of directors or other persons performing similar functions of such corporation, partnership or other entity (irrespective of whether or not at the time securities or other ownership interests of
any other class or classes of such corporation, partnership or other entity shall have or might have voting power by reason of the happening of any contingency) is at the time directly or indirectly owned or controlled by such Person or one or more
Subsidiaries of such Person or by such Person and one or more Subsidiaries of such Person. For purposes of this Agreement, the Subsidiaries of Seller shall only include those material Subsidiaries of Seller set forth on Schedule 3 hereto.

  

	 	(hhhhh)	“Tangible Net Worth” shall mean the Net Worth of Seller, minus the sum of all intangibles, determined in accordance with GAAP (but without subtracting the value of Seller’s mortgage servicing
rights). 

  

	 	(iiiii)	“Termination Date” shall mean the earlier to occur of (i) the date on which this Agreement shall terminate in accordance with the provisions hereof or by operation of law or (ii) the
Expiration Date. 

  

	 	(jjjjj)	“Underwriting Guidelines” shall mean the underwriting guidelines of the originator of the related Mortgage Loan (which originator may be the Seller, as applicable), acceptable to Buyer in its sole
discretion and as in effect as of the date of the related Mortgage Loan was originated. 

  

	 	(kkkkk)	“UCC” shall mean the Uniform Commercial Code as in effect on the date hereof in the State of New York; provided that if by reason of mandatory provisions of law, the perfection or the effect of
perfection or non-perfection of the security interest in any Purchased Items is governed by the Uniform Commercial Code as in effect in a jurisdiction other than New York, “UCC” shall mean the Uniform Commercial Code as in effect in such
other jurisdiction for purposes of the provisions hereof relating to such perfection or effect of perfection or non-perfection. 

  

	 	(lllll)	“VA” shall mean the United States Department of Veterans Affairs or any successor thereto. 

  

	 	(mmmmm)	“Wet Loan” shall mean a wet-funded first lien Mortgage Loan which does not contain all of the Required Documents and which shall have the following additional characteristics: 

 

	 	(i)	the proceeds thereof have been funded by the Seller prior to the Purchase Date thereof; 

  

	 	(ii)	the proceeds thereof have not been returned to the Seller by the escrow or closing agent for such Wet Loan; 

  

	 	(iii)	upon recordation of the related Mortgage, such Mortgage Loan will constitute a first lien on the premises described therein; and 

  

	 	(iv)	upon delivery of all of the documents specified in Section 2(a)(z) of the Custodial Agreement, such Wet Loan will become either a FHLMC Mortgage Loan, a FNMA Mortgage Loan or a GNMA Mortgage Loan.

  
 A-I-12 

 [***] - Confidential portions of this document have been redacted and filed separately with the
Commission. 
  
  
  

	6.	Transactions (Paragraph 3). 

  

	 	(a)	Paragraph 3(a) of the Agreement is amended by deleting it in its entirety and replacing it with the following: 

“Subject to the terms and conditions of the Program Documents, Buyer may, from time to time in sole discretion, enter into Transactions
with an aggregate Purchase Price for all Purchased Mortgage Loans acquired by Buyer not to exceed the Maximum Aggregate Purchase Price. An agreement to enter into a Transaction may be made in writing at the initiation of either Buyer (or Agent on
Buyer’s behalf) or Seller. On the Purchase Date for the Transaction, the Purchased Mortgage Loan shall be transferred to Buyer against the transfer of the Purchase Price to an account of Seller. 

The Seller shall give written notice of one or more proposed Transactions to the Agent and Buyer by no later than [***] (New York City time)
on the Purchase Date, provided that no more than [***] Transactions shall occur on a single Purchase Date. By no later than [***] (New York City time) on the Purchase Date, the Buyer shall (or shall instruct the Agent to) deliver the
Confirmation in accordance with Section 3(b). 
  

	 	(b)	The last sentence of Paragraph 3(c) of the Agreement is amended by deleting it in its entirety and replacing with the following: 

“On the date specified in such demand, or on the date fixed for termination in the case of Transactions having a fixed term, termination
of the Transaction will be effected by transfer to Seller or its agent of the Purchased Mortgage Loans and any Income in respect thereof received by Buyer (and not previously credited or transferred to, or applied to the obligations of, Seller
pursuant to Paragraph 5 hereof) against the transfer of the Repurchase Price to the account of Buyer.” 
  

	 	(c)	Unless otherwise directed by Buyer, Confirmations, for the purposes of this Agreement, will be prepared by Agent on Buyer’s behalf. 

 

	 	(d)	Paragraph 3 of the Agreement is amended by adding the following new subparagraphs at the end thereof: 

“(d) Upon Seller’s request to enter into a Transaction pursuant to Paragraph 3, Buyer may, in its sole discretion, assuming all
conditions precedent set forth in this Paragraph 3 and in Paragraphs 21(a) and (b) have been met, and provided no Default shall have occurred and be continuing, purchase the Eligible Mortgage Loans included in the related Confirmation by
transferring to the Seller, via wire transfer in accordance with the written wire transfer instructions provided by Seller, the Purchase Price in immediately available funds on the related Purchase Date and not later than the related time set forth
in the Custodial Agreement (if any). With respect to each Purchased Mortgage Loan, Seller acknowledges and agrees that the Purchase Price paid in connection with such Purchased Mortgage Loan that is purchased in any Transaction includes a mutually
negotiated premium allocated to the portion of such Purchased Mortgage Loan that constitutes the related Servicing Rights. For the avoidance of doubt, this Agreement is an uncommitted repurchase facility and Buyer shall have no obligation to enter
into any Transaction hereunder. 
 (e) Seller shall repurchase the related Purchased Mortgage Loans from Buyer on each related Repurchase
Date and Buyer shall transfer the related Purchased Mortgage Loans to Seller free and clear of any claim, Lien or other encumbrance created or attached by or through Buyer. Each obligation to repurchase exists without regard to any prior or
intervening liquidation or foreclosure with respect to any Purchased Mortgage Loan. Seller is obligated to obtain the related Purchased Mortgage Loans from Buyer or its designee (including Custodian) at Seller’s expense on (or after) the
related Repurchase Date. 

  
 A-I-13 

 (f) Provided that the applicable conditions in Paragraphs 21(a) and (b) have been satisfied
and provided further no Default shall have occurred and be continuing, unless Seller is notified by Buyer to the contrary not later than 11:00 a.m. (New York City time) at least two (2) Business Days prior to any such Repurchase Date, on each
related Repurchase Date each Purchased Mortgage Loan shall automatically become subject to a new Transaction. In such event, the related Repurchase Date on which such Transaction becomes subject to a new Transaction shall become the “Purchase
Date” for such Transaction. Seller shall deliver to the Buyer and Agent an updated Confirmation with respect to such Purchased Mortgage Loans. For each new Transaction, unless otherwise agreed, (y) the accrued and unpaid Price Differential
shall be settled in cash on each related Repurchase Date, and (z) the Pricing Rate shall be as set forth in the Confirmation. 
 (g) If
Seller intends to repurchase any Mortgage Loans on any day which is not a Repurchase Date, Seller shall give prior written notice thereof to Buyer and Agent by 10:00 p.m. (New York City time) on the date of repurchase. If such notice is given, the
Repurchase Price specified in such notice shall be due and payable on the date specified therein, together with the Price Differential to such date on the amount prepaid. 

(h) If any Requirement of Law (other than with respect to any amendment made to Buyer’s certificate of incorporation and by-laws of other
organizational or governing documents) adopted after the date hereof or any change in the interpretation or application thereof or compliance by Buyer with any request or directive (whether or not having the force of law) from any central bank or
other Governmental Authority made subsequent to the date hereof: 
  

	 	i.	shall subject Buyer to any tax of any kind whatsoever with respect to this Agreement or any Mortgage Loans purchased pursuant to it (excluding net income taxes) or change the basis of taxation of payments to Buyer in
respect thereof; 

  

	 	ii.	shall impose, modify or hold applicable any reserve, special deposit, compulsory advance or similar requirement against assets held by deposits or other liabilities in or for the account of Transactions or extensions of
credit by, or any other acquisition of funds by any office of Buyer which is not otherwise included in the determination of LIBOR hereunder; 

  

	 	iii.	shall impose on Buyer any other condition; 

 and the result of any of the foregoing is to
increase the cost to Buyer, by an amount which Buyer deems to be material, of effecting or maintaining purchases hereunder, or to reduce any amount receivable hereunder in respect thereof, then, in any such case, Seller shall pay Buyer such
additional amount or amounts as will compensate Buyer for such increased cost or reduced amount receivable thereafter incurred within 30 days upon receipt of written notice from Buyer, provided that such written notice is received by Seller within
90 days of such change in Requirement of Law (except that if the change in Requirement of Law is retroactive, then the 90 day period referred to above shall be extended to include the period of retroactive effect thereof). The foregoing
notwithstanding, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, regulations, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or
directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in
each case be deemed to be a “Requirement of Law” adopted after the date hereof. 

  
 A-I-14 

 (i) Anything herein to the contrary notwithstanding, if, on or prior to the determination of
LIBOR: 
  

	 	i.	Buyer or Agent determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of “Pricing Rate” are not being provided in the
relevant amounts or for the relevant maturities for purposes of determining rates of interest for Transactions as provided herein; or 

  

	 	ii.	it becomes unlawful for Buyer to enter into Transactions with a Pricing Rate based on LIBOR. 

then Buyer or Agent shall give Seller prompt notice thereof and, so long as such condition remains in effect, Seller shall, at its option,
either repurchase such Mortgage Loans or pay a Pricing Rate at a rate per annum as reasonably determined by the Buyer taking into account the increased cost to Buyer of purchasing and holding the Mortgage Loans.” 

 

	7.	Margin Maintenance (Paragraph 4). 

  

	 	(a)	Paragraph 4(a) of the Agreement is amended by deleting it in its entirety and replacing it with the following: 

“If at any time the aggregate Market Value of all Purchased Securities subject to all Transactions in which a particular party hereto is
acting as Buyer is less than the aggregate Buyer’s Margin Amount for all such Transactions (a “Margin Deficit”), then Buyer or Agent may, by notice to Seller, require Seller in such Transactions to transfer to Buyer cash or
additional Securities reasonably acceptable to Buyer (“Additional Purchased Securities”), so that the cash and aggregate Market Value of the Purchased Securities, including any such Additional Purchased Securities, will thereupon
equal or exceed such aggregate Buyer’s Margin Amount.” 
  

	 	(b)	Paragraph 4(b) of the Agreement is amended by deleting the text in its entirety and replacing it with “Reserved”. Further, all references in the Agreement to Paragraph 4(b) and “Margin Excess” are
deleted hereby. 

  

	8.	Income Payments (Paragraph 5). Paragraph 5 of the Agreement is amended by deleting the paragraph in its entirety and replacing it with the following: 

“(a) The parties agree that in any Transaction hereunder whose term extends over an Income payment date for the Mortgage Loans subject to
such Transaction, such Income shall be the property of Buyer. Seller shall (i) segregate all Income collected by or on behalf of Seller on account of the Purchased Mortgage Loans and shall hold such Income in trust for the benefit of Buyer that
is clearly marked as such in Seller’s records and (ii) remit such Income to the Collection Account (if any) for deposit therein no later than one (1) Business Day after receipt thereof. Notwithstanding the foregoing, and provided no
Default has occurred and is continuing, Buyer agrees that Seller shall be entitled to receive an amount equal to all Income received in respect of the Purchased Mortgage Loans, whether by Buyer, Agent, Custodian or any servicer or any other Person,
which is not otherwise received by Seller, to the full extent it would be so entitled if the Purchased Mortgage Loans had not been sold to Buyer; provided that any Income received by Seller while the related Transaction is outstanding shall
be deemed to be held by Seller solely in trust for Buyer pending the repurchase on the related Repurchase Date. On each Repurchase Date, Buyer shall, or may instruct Agent to, as the parties may agree with respect to any Transaction (or, in the
absence of any such agreement, as Buyer shall reasonably determine in its sole discretion) either (i) transfer (or permit the servicer to transfer) to Seller Income received as of such date with respect to any Purchased Mortgage Loans subject
to such Transaction, or (ii) if a Margin Deficit then exists, apply the 

  
 A-I-15 

 
Income to reduce the amount, if any, to be transferred to Buyer by Seller upon termination of such Transaction. Neither Agent nor Buyer shall be obligated to take any action pursuant to the
preceding sentence (i) to the extent that such action would result in the creation of a Margin Deficit, unless prior thereto or simultaneously therewith Seller transfers to Buyer cash or Additional Purchased Mortgage Loans sufficient to
eliminate such Margin Deficit, or (ii) if a Default or Event of Default with respect to Seller has occurred and is then continuing at the time such Income is paid or distributed. 

(b) Seller shall pay to Buyer all accrued but unpaid Price Differential for each Transaction outstanding hereunder by the second Business Day
of each calendar month, provided that such Price Differential can be due on a Repurchase Date at the request of the Buyer. 
  

	9.	Security Interest (Paragraph 6). Paragraph 6 of the Agreement is amended by deleting the paragraph in its entirety and replacing it with the following: 

“(a) Seller and Buyer intend that the Transactions hereunder be sales to Buyer of the Purchased Mortgage Loans and not loans from Buyer to
Seller secured by the Purchased Mortgage 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 fully 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 Mortgage Loans identified on a Confirmation delivered by Seller to Buyer, Agent and the Custodian from time to time, (ii) any other collateral pledged or otherwise relating to such Purchased Mortgage Loans,
together with all files, material documents, instruments, surveys (if available), certificates, correspondence, appraisals, computer records, computer storage media, Mortgage Loan accounting records and other books and records relating thereto,
(iii) all rights of Seller to receive from any third party or to take delivery of any records or other documents which constitute a part of the mortgage file or servicing file, (iv) the Collection Account (if any) and all amounts on
deposit therein and all Income relating to such Purchased Mortgage Loans, (v) all interests in real property collateralizing any Purchased Mortgage Loans, (vi) all insurance policies and insurance proceeds relating to any Purchased
Mortgage Loans or the related Mortgaged Property and all rights of Seller to receive from any third party or to take delivery of any of the foregoing, (vii) any purchase agreements or other agreements, contracts or take-out commitments relating
to or constituting any or all of the foregoing and all rights to receive documentation relating thereto, (viii) 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 UCC, in each case solely to the extent relating to or constituting the foregoing, and all cash and cash equivalents and all products and proceeds in each case solely to the extent relating to
or constituting any or all of the foregoing, (ix) the Servicing Records and the related Servicing Rights, (x) all of Seller’s rights under any Escrow Instruction Letters and Insured Closing Letters with respect to the Loans that are
Wet Loans and (xi) any and all replacements, substitutions, distributions on or proceeds of any or all of the foregoing (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 Mortgage 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. 
 Seller further grants, assigns and pledges to Buyer a first priority security
interest in and to all documentation and rights to receive documentation related to all Income related to the Purchased Mortgage Loans received by Seller and all rights to receive such Income, and all products, proceeds and distributions relating to
or constituting any or all of the foregoing (collectively, the “Related Credit Enhancement”). The Related Credit Enhancement is hereby pledged as further security for Seller’s Obligations to Buyer hereunder. 

  
 A-I-16 

 (b) At any time and from time to time, upon the written request of Buyer or Agent, and at the
expense of Seller, Seller will promptly and duly execute and deliver, or will promptly cause to be executed and delivered, such further instruments and documents and take such further action as Buyer or Agent may reasonably request for the purpose
of obtaining or preserving the full benefits of this Agreement and of the rights and powers herein granted, including, without limitation, the filing of any financing or continuation statements under the UCC in effect in any jurisdiction with
respect to the Purchased Items and the liens created hereby. Seller also hereby authorizes Buyer to file any such financing or continuation statement without the signature of Seller to the extent permitted by applicable law. A carbon, photographic
or other reproduction of this Agreement shall be sufficient as a financing statement for filing in any jurisdiction. This Agreement shall constitute a security agreement under applicable law. 

(c) Seller shall not (i) change the location of its chief executive office/chief place of business from that specified in
Annex II, (ii) change its name, identity or corporate structure (or the equivalent) or change the location where it maintains its records with respect to the Purchased Items, or (iii) reincorporate or reorganize under the laws
of another jurisdiction unless, in each case, it shall have given Buyer and Agent at least thirty (30) days prior written notice thereof and shall have delivered to Agent and Buyer all UCC financing statements and amendments thereto as Buyer or
Agent shall request and taken all other actions deemed reasonably necessary by Buyer or Agent to continue its perfected status in the Purchased Items with the same or better priority. 

(d) Seller hereby irrevocably constitutes and appoints each of Buyer and Agent on Buyer’s behalf and any officer or agent thereof, with
full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of Seller and in the name of Seller or in its own name, from time to time in Buyer’s discretion, for the
purpose of carrying out the terms of this Agreement, including without limitation, protecting, preserving and realizing upon the Purchased Items, to take any and all appropriate action and to execute any and all documents and instruments which may
be necessary or desirable to accomplish the purposes of this Agreement, including without limitation, to protect, preserve and realize upon the Purchased Items, to file such financing statement or statements relating to the Purchased Items without
Seller’s signature thereon as Buyer at its option may deem appropriate, and, without limiting the generality of the foregoing, Seller hereby gives each of Buyer and Agent on Buyer’s behalf the power and right, on behalf of Seller, without
assent by, but with notice to, Seller, if a Default shall have occurred and be continuing, to do the following: 
 (i) in the name of
Seller, or in its own name, or otherwise, to take possession of and endorse and collect any checks, drafts, notes, acceptances or other instruments for the payment of moneys due with respect to any Purchased Items 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 Buyer for the purpose of collecting any and all such moneys due with respect to any Purchased Items whenever payable; 

(ii) to pay or discharge taxes and Liens levied or placed on or threatened against the Purchased Items; 

(iii) (A) to direct any party liable for any payment under any Purchased Items to make payment of any and all moneys due or to become due
thereunder directly to Buyer or as Buyer shall direct; (B) to 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
Purchased Items; (C) to sign and endorse any invoices, assignments, verifications, notices and other documents in connection with any Purchased Items; (D) to commence and prosecute any suits, actions or proceedings at law or in equity in
any court of competent jurisdiction to collect the Purchased Items or any proceeds thereof and to enforce any other right in respect of any Purchased Items; (E) to defend any suit, action or proceeding brought against Seller with respect to any
Purchased Items; (F) to settle, compromise or adjust any 

  
 A-I-17 

 
suit, action or proceeding described in clause (E) above and, in connection therewith, to give such discharges or releases as Buyer may deem appropriate; and (G) generally, to sell,
transfer, pledge and make any agreement with respect to or otherwise deal with any Purchased Items as fully and completely as though Buyer were the absolute owner thereof for all purposes, and to do, at Buyer’s option and Seller’s expense,
at any time, and from time to time, all acts and things which Buyer deems necessary to protect, preserve or realize upon the Purchased Items and Buyer’s Liens thereon and to effect the intent of this Agreement, all as fully and effectively as
Seller might do. 
 Seller hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof. This power of
attorney is a power coupled with an interest and shall be irrevocable. This power of attorney shall not revoke any prior powers of attorney granted by Seller. 

Seller also authorizes each of Buyer and Agent on Buyer’s behalf, if a Default shall have occurred and be continuing, from time to time,
to execute, in connection with any sale provided for in Paragraph 11 hereof, any endorsements, assignments or other instruments of conveyance or transfer with respect to the Purchased Items. 

(e) The powers conferred on each of Buyer and Agent hereunder are solely to protect Buyer’s interests in the Purchased Items and shall not
impose any duty upon it to exercise any such powers. Buyer shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be
responsible to Seller for any act or failure to act hereunder, except for its or their own gross negligence or willful misconduct. 
 (f) If
Seller fails to perform or comply with any of its agreements contained in the Program Documents and Buyer performs or complies, or otherwise cause performance or compliance, with such agreement, the reasonable out-of-pocket expenses of Buyer
incurred in connection with such performance or compliance, together with interest thereon at a rate per annum equal to the Post-Default Rate, shall be payable by Seller to Buyer on demand and shall constitute Obligations. 

(g) Buyer’s duty with respect to the custody, safekeeping and physical preservation of the Purchased Items in its possession, under
Section 9-207 of the UCC or otherwise, shall be to deal with it in the same manner as Buyer deals with similar property for its own account. Neither Buyer nor Agent nor any of their directors, officers or employees shall be liable for failure
to demand, collect or realize upon all or any part of the Purchased Items or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Purchased Items upon the request of Seller or otherwise. 

(h) All authorizations and agencies herein contained with respect to the Purchased Items are irrevocable and powers coupled with an
interest.” 
  

	10.	Substitution (Paragraph 9). Paragraph 9 of the Agreement is amended by deleting the paragraph in its entirety and replacing it with the following: 

“Seller shall not substitute any other Mortgage Loans for any Purchased Mortgage Loans.” 

 

	11.	Representations (Paragraph 10): Paragraph 10 of the Agreement is amended by deleting the paragraph in its entirety and replacing it with the following: 

“Seller represents and warrants to Buyer that throughout the term of this Agreement: 

(a) Existence. Seller (i) is duly organized, validly existing and in good standing as a limited liability company under the laws of the
jurisdiction in which it was formed, (ii) has all requisite corporate or other power, and has all governmental licenses, authorizations, consents and 

  
 A-I-18 

 
approvals, necessary to own its Mortgage Loans and carry on its business as now being or as proposed to be conducted, except where the lack of such licenses, authorizations, consents and
approvals would not be reasonably likely to have a Material Adverse Effect, (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, except where failure so to qualify would not be reasonably likely (either individually or in the aggregate) to have a Material Adverse Effect, and (iv) is in compliance in all material respects with all Requirements of Law. 

(b) Litigation. Except as set forth on Schedule 10(b) attached hereto, there are no actions, suits, arbitrations, investigations or
proceedings pending or, to its knowledge, threatened against Seller or any of its Subsidiaries or Affiliates or affecting any of the property thereof before any Governmental Authority, (i) as to which individually or in the aggregate there is a
reasonable likelihood of an adverse decision which would be reasonably likely to have a Material Adverse Effect, (ii) which questions the validity or enforceability of any of the Program Documents or any action to be taken in connection with
the transactions contemplated thereby or (iii) which seeks to prevent the consummation of any Transaction. 
 (c) No Breach.
Neither (i) the execution and delivery of this Agreement, nor (ii) the consummation of the transactions therein contemplated in compliance with the terms and provisions thereof will conflict with or result in a breach of the charter or
by-laws of Seller, or any applicable law, rule or regulation, or any order, writ, injunction or decree of any Governmental Authority, or other material agreement or instrument to which Seller, or any of its Subsidiaries, is a party or by which any
of them or any of their property is bound or to which any of them or their property is subject, or constitute a default under any such material agreement or instrument, or (except for the Liens created pursuant to this Agreement) result in the
creation or imposition of any Lien upon any property of Seller or any of its Subsidiaries, pursuant to the terms of any such agreement or instrument. 

(d) Action. Seller has all necessary corporate or other power, authority and legal right to execute, deliver and perform its obligations
under each of the Program Documents to which it is a party; the execution, delivery and performance by Seller of each of the Program Documents to which it is a party has been duly authorized by all necessary corporate or other action on its part;
and each Program Document has been duly and validly executed and delivered by Seller and constitutes a legal, valid and binding obligation of Seller, enforceable against Seller in accordance with its terms. 

(e) Approvals. No authorizations, approvals or consents of, and no filings or registrations with, any Governmental Authority, or any
other Person, are necessary for the execution, delivery or performance by Seller of the Program Documents to which it is a party or for the legality, validity or enforceability thereof, except for filings and recordings in respect of the Liens
created pursuant to this Agreement, or if required, such authorizations, approvals or consents have been obtained prior to the date of this Agreement, except where the lack of such authorizations, approvals or consents would not be reasonably likely
to cause a Material Adverse Effect. 
 (f) Compliance with Law. No practice, procedure or policy employed or proposed to be employed
by Seller in the conduct of its business violates any law, regulation, judgment, agreement, regulatory consent, order or decree applicable to it which, if enforced, would result in a Material Adverse Effect with respect to Seller. 

(g) True and Complete Disclosure. The information, reports, financial statements, exhibits and schedules furnished in writing by or on
behalf of Seller or any of their Subsidiaries to Buyer (or Agent on Buyer’s behalf) in connection with the negotiation, preparation or delivery of this Agreement and the other Program Documents or included herein or therein or delivered
pursuant hereto or thereto, when taken as a whole, do not contain any untrue statement of material fact or omit to state any material fact necessary to make the statements herein or therein, in light of the circumstances under which they were made,
not misleading. All written 

  
 A-I-19 

 
information furnished after the date hereof by or on behalf of Seller or any of its Subsidiaries to Buyer (or Agent on Buyer’s behalf) in connection with this Agreement and the other Program
Documents and the transactions contemplated hereby and thereby will be true, complete and accurate in every material respect, or (in the case of projections) based on reasonable estimates, on the date as of which such information is stated or
certified. There is no fact known to a Responsible Officer that, after due inquiry, could reasonably be expected to have a Material Adverse Effect that has not been disclosed herein, in the other Program Documents or in a report, financial
statement, exhibit, schedule, disclosure letter or other writing furnished to Buyer (or Agent on Buyer’s behalf) for use in connection with the transactions contemplated hereby or thereby. 

(h) Collection Practices; Loan-Level Representations and Warranties. The collection practices used by Seller and any servicer, as
applicable, with respect to the Mortgage Loans have been, in all material respects legal, proper, prudent and customary in the residential mortgage loan origination and servicing business and in accordance with the terms of each Mortgage and the
related Note. Each of the Mortgage Loans complies in all material respects with the representations and warranties listed in Schedule 1 hereto. The review and inquiries made on behalf of Seller in connection with the making of the
representations and warranties listed on Schedule 1 hereto have been made by Persons having the requisite expertise, knowledge and background to verify such representations and warranties. Seller has no knowledge of any material fact that could
reasonably lead them to expect that the Market Value of any Purchased Mortgage Loan will not be obtained or realized. Each of the Purchased Mortgage Loans is an Eligible Mortgage Loan. 

(i) ERISA. Each Plan which is not a Multiemployer Plan, and, to the knowledge of Seller, each Multiemployer Plan, is in compliance in
all material respects with, and has been administered in all material respects in compliance with, the applicable provisions of ERISA, the Code and any other Federal or State law. No event or condition has occurred and is continuing as to which
Seller would be under an obligation to furnish a report to Buyer under Paragraph 22(e)(vi) of the Agreement contained in Annex I. The present value of all accumulated benefit obligations under each Plan subject to Title IV of ERISA (based on the
assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed the fair market value of the assets of such Plan, and the
present value of all accumulated benefit obligations of all Plans (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date of the most recent financial statements reflecting such
amounts, exceed the fair market value of the assets of all such Plans. Seller and its Subsidiaries do not provide any material medical or health benefits to former employees other than as required by the Consolidated Omnibus Budget Reconciliation
Act, as amended, or similar state or local law at no cost to the employer (collectively, “COBRA”). 
 (j) Independent
Decisions. Seller has made its own independent decisions to enter into that Transaction and as to whether that Transaction is appropriate or proper for Seller based upon Seller’s own judgment and upon advice from such advisers as Seller has
deemed necessary. Seller is not relying on any advice, counsel, or representation of Buyer as investment advice or as a recommendation to enter into that Transaction; it being understood that information and explanations related to the terms and
conditions of a Transaction shall not be considered investment advice or a recommendation to enter into that Transaction. No communication (written or oral) received from Buyer shall be deemed to be an assurance or guarantee as to expected results
of that Transaction. 
 (k) Assessment and Assumption of the Risk. Seller is capable of assessing the merits of (on Seller’s own
behalf or through independent professional advice), and understands and accepts, the terms, conditions and risks (economic and otherwise) of that Transaction. Seller is also capable of assuming, and assumes, the risks of each Transaction. 

  
 A-I-20 

 (l) Agent or Buyer Not Fiduciary. Neither Agent nor Buyer is acting as a fiduciary for or
an adviser to it in respect of that Transaction. 
 (m) No Material Adverse Effect. No Material Adverse Effect in the Seller’s
financial condition has occurred since the date of the most recent financial statements furnished by Seller to Buyer and Agent, and such financial statements are complete and correct and fairly present Seller’s financial condition and results
of operations as at and for the period ended on the date thereof, all in accordance with generally accepted accounting principles and practices applied on a consistent basis. 

(n) Investment Company Act. Seller is not, and after giving effect to the Transactions contemplated by the Agreement will not be,
required to register as an “investment company” (within the meaning of the Investment Company Act). 
 (o) Agency Approvals.
Seller has all such requisite Approvals and is in good standing with the Applicable Agency, with no event having occurred or Seller having any reason whatsoever to believe or suspect will occur, including, without limitation a change in insurance
coverage, which would either make Seller unable to comply with the eligibility requirements for maintaining all such applicable approvals or require notification to the Applicable Agency. 

(p) No Adverse Actions. Seller has not received from the Applicable Agency a written notice of extinguishment or a written notice
indicating material breach, default or material noncompliance which Buyer reasonably determines may entitle the Applicable Agency to terminate, suspend, sanction or levy penalties against Seller, or a written notice from the Applicable Agency
indicating any adverse fact or circumstance in respect of Seller which Buyer reasonably determines may entitle the Applicable Agency, as the case may be, to revoke any Approval or otherwise terminate, suspend Seller as an approved issuer, seller or
servicer, as applicable, or with respect to which such adverse fact or circumstance has caused the Applicable Agency to terminate Seller. 

(q) Insured Closing Letter. As of the date hereof and as of the date of each delivery of a Wet Loan, the Settlement Agent has obtained
an Insured Closing Letter, closing protection letter or similar authorization letter from a nationally recognized title insurance company that has been approved by Buyer or Agent on behalf of Buyer in writing. Among other things, the Insured Closing
Letter shall cover any losses occurring due to the fraud, dishonesty or mistakes of the closing agent and shall insure to the benefit of, and the rights thereunder may be enforced by, the loan originator and its successors and assigns, including
Buyer. Upon request by Buyer or Agent on behalf of Buyer, all such Insured Closing Letters in possession of Seller shall be delivered to Agent on behalf of Buyer or made available for audit by Agent on behalf of Buyer, as requested by Buyer. 

(r) Escrow Agreement. As of the date of each delivery of a Wet Loan, the Settlement Agent has executed an Escrow Instruction Letter in
form and substance satisfactory to Buyer or Agent on behalf of Buyer in its sole discretion stating that in the event of a Rescission of or if for any reason the Loan fails to fund on a given day, the party conducting the closing is holding all
funds which would have been disbursed on behalf of the Mortgagor as agent for the benefit of Buyer and such funds shall be redeposited in the Disbursement Account for the benefit of Buyer not later than one (1) Business Day after the date of
Rescission or other failure of the Loan to fund on a given day. Such Escrow Instruction Letter shall inure to the benefit of, and the rights thereunder may be enforced by, the loan originator and its successors and assigns, including Buyer. Upon
request by Buyer, all such Escrow Instruction Letters in possession of Seller shall be delivered to Agent on behalf of Buyer or made available for audit by Agent on behalf of Buyer, as requested by Buyer.” 

  
 A-I-21 

	12.	Events of Default (Paragraph 11). 

  

	 	(a)	The definition of “Event of Default” in Paragraph 11 of the Agreement is deleted in its entirety and shall instead be defined as the occurrence of any of the following events: 

 

	 	i.	Seller shall fail to transfer the Purchased Mortgage Loans upon the applicable Purchase Date following delivery of funds by Buyer or Seller shall fail to repurchase the Purchased Mortgage Loans upon the applicable
Repurchase Date; 

  

	 	ii.	Seller shall default in the payment of any amount payable by it hereunder (including but not limited to Paragraphs 4, 5, 22(a) and 23 hereof) when such amount is due, or Seller shall default in the payment of any amount
payable by it under any other Program Document after notification by Buyer of such default, and such default shall have continued unremedied for one (1) Business Day; 

 

	 	iii.	Seller shall fail to comply with the requirements of Paragraph 22 of the Agreement contained in Annex I (other than Paragraph 22(a)) of the Agreement contained in Annex I and such failure to observe or perform shall
continue unremedied for a period of five (5) Business Days following the date on which Seller had knowledge of such failure; 

  

	 	iv.	Any representation made by Seller shall have been incorrect or untrue in any material respect when made or repeated or deemed to have been made or repeated; provided that to the extent any representation in Schedule I
may be cured, any such materially incorrect or untrue representations in Schedule I shall not have been remedied within 3 business days after the earlier to occur (i) the Seller having obtained knowledge thereof or (ii) receipt of notice
from Buyer; 

  

	 	v.	Seller shall admit in writing its inability to, or intention not to, perform any of Seller’s Obligations; 

  

	 	vi.	Seller or any of Seller’s Affiliates files a voluntary petition in bankruptcy, seeks relief under any provision of any bankruptcy, reorganization, moratorium, delinquency, arrangement, insolvency, readjustment of
debt, dissolution or liquidation law of any jurisdiction whether now or subsequently in effect; or consents to the filing of any petition against it under any such law; or consents to the appointment of or taking possession by a custodian, receiver,
conservator, trustee, liquidator, sequestrator or similar official for Seller or any of Seller’s Affiliates, or of all or any part of Seller’s or Seller’s Affiliates’ Property; or makes an assignment for the benefit of Seller or
Seller’s Affiliates’ creditors; 

  

	 	vii.	(A) A custodian, receiver, conservator, liquidator, trustee, sequestrator or similar official for Seller, or any of Seller’s Affiliates, or of any of Seller’s, Seller’s Affiliates or their respective
Property (as a debtor or creditor protection procedure), is appointed or takes possession of such Property; or Seller or any of Seller’s Affiliates generally fails to pay Seller’s or Seller’s Affiliates’ debts as they become due;
or Seller or any of Seller’s Affiliates is adjudicated bankrupt or insolvent; or an order for relief is entered under the Bankruptcy Code, or any successor or similar applicable statute, or any administrative insolvency scheme, against Seller
or any of Seller’s Affiliates; or any of Seller’s or Seller’s Affiliates’ Property is sequestered by court or administrative order; or (B) a petition is filed against Seller or any of Seller’s Affiliates under any
bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution, moratorium, delinquency or liquidation law of any jurisdiction, whether now or subsequently in effect and such petition is not rescinded, voided or stayed or
dismissed within forty-five (45) days; 

  

	 	viii.	 Any Governmental Authority or any person, agency or entity acting under Governmental Authority shall have taken any action to condemn, seize or
appropriate, or to assume custody or control of, all or any substantial part of the Property of Seller or 

  
 A-I-22 

 [***] - Confidential portions of this document have been redacted and filed separately with the
Commission. 
  
  

	 	any of Seller’s Affiliates, or shall have taken any action to displace the management of Seller or any of Seller’s Affiliates or to curtail its authority in the conduct of the business of Seller or any of
Seller’s Affiliates, or takes any action in the nature of enforcement to remove, limit or restrict the Seller’s Approvals or other approvals of Seller or its Affiliates as an issuer, buyer or a seller/servicer of Mortgage Loans or
securities backed thereby, and such action provided for in this subparagraph (viii) shall not have been discontinued or stayed within thirty (30) days; 

  

	 	ix.	An event of default shall have occurred and shall be continuing under any Program Document (other than this Agreement) beyond any applicable grace period or shall for whatever reason (including an event of default
thereunder) be terminated; or any of Seller’s material obligations (other than Seller’s Obligations hereunder) shall cease to be in full force and effect, or the enforceability thereof shall be contested by Seller (in each case beyond any
applicable grace period) which such failure to be in full force and effect could reasonably be expected to have a Material Adverse Effect; or any of Seller’s Obligations hereunder shall cease to be in full force and effect, or the
enforceability thereof shall be contested by Seller; 

  

	 	x.	A Change of Control of Seller shall have occurred without the prior consent of Buyer; 

  

	 	xi.	Seller shall grant, or suffer to exist, any Lien on any Purchased Items except the Liens contemplated hereby; or the Liens contemplated hereby shall cease to be first priority perfected Liens on the Purchased Items in
favor of Buyer or shall be Liens in favor of any Person other than Buyer; 

  

	 	xii.	(A) Seller or any ERISA Affiliate shall engage in any “prohibited transaction” (as defined in Section 406 of ERISA or Section 4975 of the Code) involving any Plan, (B) a determination that a
Plan is “at risk” (within the meaning of Section 303 of ERISA) or any Lien in favor of the PBGC or a Plan shall arise on the assets of Seller or any ERISA Affiliate, (C) a Reportable Event shall occur with respect to, or
proceedings shall commence to have a trustee appointed, or a trustee shall be appointed, to administer or to terminate, any Plan, which Reportable Event or commencement of proceedings or appointment of a trustee is, in the reasonable opinion of
Buyer, likely to result in the termination of such Plan for purposes of Title IV of ERISA, (D) any Plan shall terminate for purposes of Title IV of ERISA, (E) Seller or any ERISA Affiliate shall, or in the reasonable opinion of Buyer is
likely to, incur any liability in connection with a withdrawal from, or the insolvency or reorganization of, a Multiemployer Plan, (F) Seller or any ERISA Affiliate shall file an application for a minimum funding waiver under Section 302
of ERISA or Section 412 of the Code with respect to any Plan, (G) any obligation for post-retirement medical costs (other than as required by COBRA) exists, (viii) the assets of Seller shall be treated as “plan assets” within the
meaning of 29 C.F.R. 2510.3-101 (as modified by Section 3(42) of ERISA) or (H) any other event or condition shall occur or exist with respect to a Plan and in each case in clauses (A) through (H) above, such event or condition,
together with all other such events or conditions, if any, is likely to subject Seller or any of its Affiliates to any tax, penalty or other liabilities in the aggregate material in relation to the business, operations, property or financial or
other condition of Seller or any of its Affiliates or could reasonably be expected to have a Material Adverse Effect; 

  

	 	xiii.	 (A) Seller or any Affiliate of Seller shall default under (which default shall not have been waived or cured), or shall otherwise breach the terms of
any instrument, agreement or contract between Seller or such other entity, on the one hand, and Buyer or any of Buyer’s Affiliates on the other, which default entitles any party to require acceleration or prepayment of any indebtedness in
excess of [***] thereunder; or (B) Seller or any Affiliate of Seller shall default under (which default shall not have been waived or cured), the terms of any repurchase agreement, loan and security agreement or similar credit facility or agreement
for borrowed funds entered into by Seller or such other 

  
 A-I-23 

 [***] - Confidential portions of this document have been redacted and filed separately with the
Commission. 
  
  

	 	entity and any third party in each case evidencing a facility size of [***] or more, which default entitles any party to require acceleration or prepayment of any indebtedness thereunder; 

 

	 	xiv.	If any Material Adverse Effect as determined by Buyer in its reasonable discretion shall have occurred with respect to Seller; 

  

	 	xv.	Seller fails to perform any other of its obligations hereunder and does not remedy such failure within thirty (30) days after notice is given by the nondefaulting party requiring it to do so; 

 

	 	xvi.	Seller (A) defaults under a Specified Transaction and, after giving effect to any applicable notice requirement or grace period, there occurs a liquidation of, an acceleration of obligations under, or an early
termination of, that Specified Transaction, (B) defaults, after giving effect to any applicable notice requirement or grace period, in making any payment or delivery due on the last payment, delivery or exchange date of, or any payment on early
termination of, a Specified Transaction, or (C) disaffirms, disclaims, repudiates or rejects, in whole or in part, a Specified Transaction (or such action is taken by any person appointed or empowered to operate it or act on its behalf). For
the purposes hereof, “Specified Transaction” means (x) any transaction (including an agreement with respect thereto) now existing or hereafter entered into between Seller and Buyer or between Seller or Buyer and any third party which
is (i) a rate swap transaction, swap option, basis swap, forward rate transaction, commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange transaction,
cap transaction, floor transaction, collar transaction, currency swap transaction, cross-currency rate swap transaction, currency option, credit protection transaction, credit swap, credit default swap, credit default option, total return swap,
credit spread transaction, repurchase transaction, reverse repurchase transaction, buy/sell-back transaction, securities lending transaction, securities option, weather transaction, or forward purchase or sale of a security, commodity or other
financial instrument or interest (including any option with respect to any of these transactions) or (ii) a type of transaction that is similar to any transaction referred to in clause (i) that is currently, or in the future becomes,
recurrently entered into in the financial markets (including terms and conditions incorporated by reference in such agreement) and that is a forward, swap, future, option or other derivative on one or more rates, currencies, commodities, equity
securities or other equity instruments, debt securities or other debt instruments, economic indices or measures of economic risk or value, or other benchmarks against which payments or deliveries are to be made, and (y) any combination of these
transactions; 

  

	 	xvii.	Seller is suspended or expelled from membership of or participation in any national securities exchange or registered national securities association or registered clearing agency of which it is a member or any other
self-regulatory organization to whose rules it is subject, or is suspended from dealing in securities by any federal or state government or agency thereof, or any of the assets of Seller or the assets of investors held by, or to the order of, Seller
are transferred or ordered to be transferred to a trustee by a regulatory authority pursuant to any securities, banking or other regulating legislation; 

  

	 	xviii.	Seller has its license, charter, or other authorization necessary to conduct a material portion of its business withdrawn, suspended or revoked by any applicable federal or state government or agency thereof; or

  

	 	xix.	 as a result of sovereign action or inaction (directly or indirectly) or directive issued or given by any governmental or regulatory agency or
authority with competent jurisdiction, Seller becomes unable to perform any absolute or contingent obligation to 

  
 A-I-24 

	 	
make a payment or transfer or to receive a payment or transfer in respect of any Transaction under the Agreement or to comply with any other material provision of the Agreement relating to such
Transaction.” 

  

	 	(b)	The introductory paragraph of Paragraph 11(d) shall be amended by replacing the clause “without prior notice to the defaulting party” with “with such notice to the defaulting party as is reasonably
practicable under the circumstances”. 

  

	 	(c)	The following sentence shall be added to the end of Paragraph 11(g): 

 “Notwithstanding
the foregoing, neither party shall be liable to the other for any consequential, indirect or punitive damages.” 
  

	 	(d)	Paragraph 11(i) of the Agreement is amended by replacing the entire paragraph with the following: 

“(i) In addition to all the rights and remedies specifically provided herein, Buyer shall have all other rights and remedies provided by
applicable federal, state, foreign, and local laws, whether existing at law, in equity or by statute, including, without limitation, all rights and remedies available to a purchaser or a secured party, as applicable, under the UCC. Except as
otherwise expressly provided in this Agreement, Buyer shall have the right to exercise any of its rights and/or remedies without presentment, demand, protest or further notice of any kind other than as expressly set forth herein, all of which are
hereby expressly waived by Seller. Buyer may enforce its rights and remedies hereunder without prior judicial process or hearing, and Seller hereby expressly waives, to the extent permitted by law, any right Seller might otherwise have to require
Buyer to enforce its rights by judicial process. Seller also waives, to the extent permitted by law, any defense Seller might otherwise have to the Obligations, arising from use of nonjudicial process, enforcement and sale of all or any portion of
the Purchased Mortgage Loans and any other Purchased Items or from any other election of remedies. Seller recognizes that nonjudicial remedies are consistent with the usages of the trade, are responsive to commercial necessity and are the result of
a bargain at arm’s length.” 
  

	13.	Non-assignability; Termination (Paragraph 15). Paragraph 15 of the Agreement is amended by replacing the entire paragraph with the following: 

“(a) Seller shall not sell, assign or transfer any of its rights or its Obligations or delegate its duties under this Agreement or any
other Program Document without the prior written consent of Buyer, and any attempt by Seller to do so without such consent shall be null and void. Subject to the foregoing, this Agreement and any Transactions shall be binding upon and shall inure to
the benefit of the parties and their respective permitted successors and assigns. 
 (b) Buyer may, in accordance with applicable law, at
any time sell to one or more entities (“Participants”) participating interests in this Agreement, its agreement to purchase Mortgage Loans, or any other interest of Buyer hereunder and under the other Program Documents. In the event
of any such sale by Buyer of participating interests to a Participant, Buyer’s obligations under this Agreement to Seller shall remain unchanged, Buyer shall remain solely responsible for the performance thereof and Seller shall continue to
deal solely and directly with Buyer or Agent on Buyer’s behalf in connection with Buyer’s rights and obligations under this Agreement and the other Program Documents. Seller agrees that if amounts outstanding under this Agreement are due
or unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under
this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Buyer under this Agreement; provided, that such Participant shall only be entitled to such right of set-off if it shall have agreed in
the agreement pursuant to which it shall have acquired its participating interest to share with Buyer the proceeds thereof. 

  
 A-I-25 

 (c) Buyer or Agent may furnish any information concerning Seller or any of its Subsidiaries in
the possession of Buyer or Agent from time to time to assignees and Participants (including prospective assignees and Participants) only after notifying Seller in writing and securing signed confidentiality statements and only for the sole purpose
of evaluating assignments or participations and for no other purpose. 
 (d) Seller agrees to cooperate with Buyer in connection with any
such assignment and/or participation, to execute and deliver replacement notes, and to enter into such restatements of, and amendments, supplements and other modifications to, this Agreement and the other Program Documents in order to give effect to
such assignment and/or participation. Seller further agrees to furnish to any Participant identified by Buyer to Seller copies of all reports and certificates to be delivered by Seller to Buyer or Agent hereunder, as and when delivered to Buyer or
Agent.” 
  

	14.	Use of Employee Plan Assets (Paragraph 18). Paragraph 18 of the Agreement is hereby amended by deleting such paragraph in its entirety and replacing it with the following: 

“The assets of Seller are not “plan assets” (within the meaning of 29 C.F.R. 2510.3-101 (as modified by Section 3(42) of
ERISA)) of a plan subject to Title I of ERISA or a “plan” within the meaning of Section 4975 of the Code.” 
  

	15.	Intent (Paragraph 19). Paragraph 19 of the Agreement is amended by deleting the paragraph in its entirety and replacing it with the following: 

“(a) Seller and Buyer recognize that each Transaction is a “repurchase agreement” as that term is defined in
Section 101(47) of the Bankruptcy Code, a “securities contract” as that term is defined in Section 741 of the Bankruptcy Code, and a “master netting agreement” as that term is defined in Section 101(38A) of the
Bankruptcy Code. 
 (b) It is understood that Buyer’s right to liquidate the Purchased Items delivered to it in connection with the
Transactions hereunder or to accelerate or terminate the Agreement or otherwise exercise any other remedies pursuant to Paragraph 11 hereof is a contractual right to liquidate, accelerate or terminate such Transaction as described in Sections 555,
559 and 561 of the Bankruptcy Code.” 
  

	16.	Additional Provisions. The Agreement is hereby amended by added the following new Paragraphs immediately following Paragraph 20: 

 

	 	“21.	Conditions Precedent. 

  

	 	(a)	As conditions precedent to the closing of this Agreement, Buyer and Agent shall have received on or before the date hereof the following, in form and substance satisfactory to Buyer and Agent and duly executed by each
party thereto (as applicable): 

  

	 	i.	Program Documents. The Program Documents duly executed and delivered by Seller thereto and being in full force and effect. 

  

	 	ii.	Organizational Documents. A good standing certificate and certified copies of the charter and by-laws (or equivalent documents) of Seller, in each case dated as of a recent date, but in no event more than ten
(10) Business Days prior to the date hereof and copies of resolutions or consents evidencing the corporate or other authority for Seller with respect to the execution, delivery and performance of the Program Documents and each other document to
be delivered by Seller from time to time in connection herewith (and Buyer and Agent may conclusively rely on such certificate until it receives notice in writing from Seller to the contrary). 

  
 A-I-26 

	 	iii.	Incumbency Certificate. An incumbency certificate of the secretary of Seller certifying the names, true signatures and titles of Seller’s representatives duly authorized to request Transactions hereunder and
to execute the Program Documents and the other documents to be delivered thereunder. 

  

	 	iv.	Legal Opinion. An opinion of Seller’s outside counsel as to such matters as Buyer may reasonably request (including, without limitation, (a) designation of the Master Repurchase Agreement as a
“repurchase agreement”, “securities contract” and “master netting agreement” under the Bankruptcy Code, (b) perfection of security interest in the Purchased Items, (c) a corporate opinion, (d) the
enforceability of the Program Documents under New York law and (e) Seller is not an “investment company”, or a company “controlled” by an “investment company”, within the meaning of the Investment Company Act.

  

	 	v.	Fees and Expenses. Buyer shall have received all expenses required to be paid by Seller on or prior to the initial Purchase Date, which expenses may be netted out of any Purchase Price paid by Buyer hereunder.

  

	 	vi.	Filings, Registrations, Recordings. (i) Any documents (including, without limitation, financing statements) required to be filed, registered or recorded in order to create, in favor of Buyer, a perfected,
first-priority security interest in the Purchased Items, subject to no Liens other than those created hereunder, shall have been properly prepared and executed for filing (including the applicable county(ies) if Buyer determines such filings are
necessary in its reasonable discretion), registration or recording in each office in each jurisdiction in which such filings, registrations and recordations are required to perfect such first-priority security interest; and (ii) UCC lien
searches, dated as of a recent date, in no event more than 14 days prior to the date of such initial Transaction, in such jurisdictions as shall be applicable to Seller and the Purchased Items, the results of which shall be satisfactory to Buyer.

  

	 	vii.	Other Documents. Buyer shall have received such other documents as Buyer or its counsel may reasonably request, including without limitation the Custodial Agreement. 

(b) The obligation (if any) of Buyer to enter into each Transaction pursuant to this Agreement (including the initial Transaction) is subject
to the following further conditions precedent, both immediately prior to any Transaction and also after giving effect thereto and to the intended use thereof: 
  

	 	i.	No Default or Event of Default shall have occurred and be continuing. 

  

	 	ii.	The then aggregate outstanding Purchase Price for all Purchased Mortgage Loans, when added to the Purchase Price for the requested Transaction, shall not exceed the Maximum Aggregate Purchase Price. 

 

	 	iii.	Buyer and Agent shall have received on or before the day of a Transaction the Confirmation and Mortgage Loan schedule with respect to the Mortgage Loans proposed to be sold, delivered pursuant to Paragraph 3(a) of the
Agreement. 

  

	 	iv.	Seller shall have paid to Buyer all fees and expenses owed to Buyer [and Agent] in accordance with this Agreement and any other Program Document. 

  
 A-I-27 

	 	v.	No event shall have occurred and be continuing which results in a material adverse change to the Approvals of Seller since the closing date of this Agreement, and such Approvals shall be in good standing on and after
such closing date. 

  

	 	vi.	There is no Margin Deficit at the time immediately prior to entering into a new Transaction. 

  

	 	vii.	Buyer and Agent shall have received certificates or other evidence of insurance detailing insurance coverage in respect of the related Mortgaged Property or Properties of types (including but not limited to casualty,
general liability and terrorism insurance coverage), in amounts, with insurers and otherwise in compliance with the terms, provisions and conditions set forth in the Mortgage Loan Documents and otherwise reasonably satisfactory to Buyer. Such
certificates or other evidence shall indicate that Seller will be named as an additional insured as its interest may appear and shall contain a loss payee endorsement in favor of such additional insured with respect to the policies required to be
maintained under the Mortgage Loan Documents. 

  

	 	viii.	if obtained by the Seller, Buyer and Agent shall have received an appraisal of the related Mortgaged Property or Properties. 

  

	 	ix.	Buyer and Agent shall have received any other documents reasonably requested by Buyer, and such information shall be satisfactory to Buyer in its sole discretion. 

 

	 	x.	Agent shall have received a trust receipt from the Custodian, indicating Custodian’s receipt and review of the related Mortgage Loan Documents, in accordance with the terms of the Custodial Agreement (if any) with
respect to the Purchased Mortgage Loans and without exceptions (unless otherwise waived by Buyer or Agent on Buyer’s behalf). 

  

	 	xi.	With respect to each Mortgage Loan proposed to be sold that is subject to a security interest (including any precautionary security interest) immediately prior to the Purchase Date, Buyer and Agent shall have received a
security release certification for such Mortgage Loan that is duly executed by the related secured party and Seller. Such secured party shall have filed UCC termination statements in respect of any UCC filings made in respect of such Mortgage Loan,
and each such release and UCC termination statement has been delivered to Buyer and Agent prior to each Transaction and to Custodian as part of the collateral package. 

 

	 	xii.	With respect to any Mortgage Loan that is a Wet Loan, Buyer and Agent shall have received a true and complete copy of the Insured Closing Letter and Escrow Instructions, if requested by Buyer or Agent on behalf of
Buyer. 

  

	 	22.	Covenants of Seller. Seller covenants and agrees that during the term of this Agreement: 

  

	 	(a)	Margin Deficit. If at any time there exists a Margin Deficit, Seller shall cure the same in accordance with Paragraph 4(a) of the Agreement. 

 

	 	(b)	Notices. Seller shall give notice to Buyer and Agent promptly in writing of any of the following: 

  

	 	i.	Upon Seller becoming aware of, and in any event within one (1) Business Day after the occurrence of any Default, Event of Default or any event of default or default under any Program Document or other material
agreement of Seller; 

  
 A-I-28 

	 	ii.	Upon, and in any event within three (3) Business Days after, service of process on Seller or any of its Affiliates or Subsidiaries, or any agent thereof for service of process, in respect of any legal or arbitrable
proceedings affecting Seller or any of its Affiliates or Subsidiaries that questions or challenges the validity or enforceability of any of the Program Documents, or which there is a reasonable likelihood of an adverse determination which would
result in a Material Adverse Effect; 

  

	 	iii.	Upon, and in any event within five (5) Business Days after, the termination, acceleration, maturity of or reduction in the amount available for borrowing under any repurchase agreement, loan and security agreement
or similar credit facility or agreement for borrowed funds entered into by Seller and any third party; 

  

	 	iv.	Upon Seller becoming aware of any default related to any Purchased Items, any Material Adverse Effect and any event or change in circumstances which could reasonably be expected to have a Material Adverse Effect;

  

	 	v.	Any material dispute, licensing issue, litigation, investigation, proceeding or suspension between Seller or its Affiliates or Subsidiaries, on the one hand, and any Governmental Authority or any other Person; and

  

	 	vii.	Upon Seller becoming aware of any penalties, sanctions or charges levied, or threatened to be levied, against Seller or Servicer or any change or threatened change in Approval status, or the commencement of any Agency
Audit, investigation, or the institution of any action or the threat of institution of any action against Seller by the Applicable Agency or any other agency, or any supervisory or regulatory Government Authority supervising or regulating the
origination or servicing of mortgage loans by, or the issuer or seller status of, Seller or Servicer, other than routine ordinary course Agency Audits or investigations. 

Each notice pursuant to this Paragraph 22(b) shall be accompanied by a statement of a Responsible Officer of Seller, setting forth details of
the occurrence referred to therein and stating what action Seller has taken or proposes to take with respect thereto. 
  

	 	(c)	Defense of Title. Seller warrants and will defend the right, title and interest of Buyer in and to all Purchased Items against all adverse claims and demands of all Persons whomsoever. 

 

	 	(d)	Preservation of Purchased Items. Seller shall do all things necessary to preserve the Purchased Items so that such Purchased Items remain subject to a first priority perfected security interest hereunder. Without
limiting the foregoing, Seller will comply with all applicable laws, rules and regulations of any Governmental Authority applicable to Seller or relating to the Purchased Items and cause the Purchased Items to comply with all applicable laws, rules
and regulations of any such Governmental Authority. Seller will not allow any default to occur for which Seller is responsible under any Purchased Items or any Program Documents and Seller shall fully perform or cause to be performed when due all of
its obligations under any Purchased Items or the Program Documents. 

  

	 	(e)	Financial Statements. Seller shall deliver to Buyer and Agent: 

  

	 	i.	 As soon as available and in any event within thirty (30) days after the end of each calendar month, the consolidated balance sheets of Seller and
its consolidated Subsidiaries as at the end of such period and the related unaudited consolidated statements of income and retained earnings and of cash flows for Seller and its consolidated Subsidiaries for such period setting forth in each case in
comparative form the figures for the previous year, accompanied by a certificate of a Responsible Officer of Seller, which certificate shall state that said consolidated 

  
 A-I-29 

	 	
financial statements fairly present the consolidated financial condition and results of operations of Seller and its Subsidiaries in accordance with GAAP, consistently applied, as at the end of,
and for, such period (subject to normal year-end audit adjustments); 

  

	 	ii.	As soon as available and in any event within forty-five (45) days after the end of each of the first three quarterly fiscal periods of each fiscal year of Seller, the consolidated balance sheets of Seller and its
consolidated Subsidiaries as at the end of such period and the related unaudited consolidated statements of income and retained earnings and of cash flows for Seller and its consolidated Subsidiaries for such period and the portion of the fiscal
year through the end of such period, setting forth in each case in comparative form the figures for the previous year, accompanied by a certificate of a Responsible Officer of Seller, which certificate shall state that said consolidated financial
statements fairly present the consolidated financial condition and results of operations of Seller and its Subsidiaries in accordance with GAAP, consistently applied, as at the end of, and for, such period (subject to normal year-end audit
adjustments); 

  

	 	iii.	As soon as available and in any event within ninety (90) days after the end of each fiscal year of Seller, the consolidated balance sheets of Seller and its consolidated Subsidiaries as at the end of such fiscal
year and the related consolidated statements of income and retained earnings and of cash flows for Seller and its consolidated Subsidiaries for such year, setting forth in each case in comparative form the figures for the previous year, accompanied
by an unqualified opinion of a firm of independent public accountants of recognized standing, selected by the Seller and reasonably satisfactory to the Buyer, to the effect that the consolidated financial statements have been prepared in accordance
with GAAP and present fairly in accordance with GAAP the consolidated financial condition of the Buyer as of the close of such fiscal year and the results of their operations and cash flows for the fiscal year then ended and that an examination of
such accounts in connection with such financial statements has been made in accordance with generally accepted auditing standards and, accordingly, such examination included such tests of the accounting records and such other auditing procedures as
were considered necessary in the circumstances; 

  

	 	iv.	From time to time such other information regarding the financial condition, operations, or business of Seller as Buyer or Agent may reasonably request; 

 

	 	v.	As soon as reasonably possible, and in any event within thirty (30) days after a Responsible Officer Knows, or with respect to any Plan or Multiemployer Plan to which Seller or any of its Subsidiaries makes direct
contributions, has reason to believe, that any of the events or conditions specified below with respect to any Plan or Multiemployer Plan has occurred or exists, a statement signed by a senior financial officer of Seller setting forth details
respecting such event or condition and the action, if any, that Seller or its ERISA Affiliate proposes to take with respect thereto (and a copy of any report or notice required to be filed with or given to PBGC by Seller or an ERISA Affiliate with
respect to such event or condition): 

  

	 	(A)	 any reportable event, as defined in Section 4043(b) of ERISA and the regulations issued thereunder, with respect to a Plan, as to which PBGC has not
by regulation or otherwise waived the requirement of Section 4043(a) of ERISA that it be notified within thirty (30) days of the occurrence of such event (provided that a failure to meet the minimum funding standard of Section 412 of the Code or
Section 302 or 303 of ERISA, including, without limitation, the failure to make on or before its due date a required installment under Section 430(j) of the Code or Section 303(j) of

  
 A-I-30 

	 	
ERISA, shall be a reportable event regardless of the issuance of any waivers in accordance with Section 412(c) of the Code); and any request for a waiver under Section 412(d) of the
Code for any Plan; 

  

	 	(B)	the distribution under Section 4041(c) of ERISA of a notice of intent to terminate any Plan or any action taken by Seller or an ERISA Affiliate to terminate any Plan; 

 

	 	(C)	the institution by PBGC of proceedings under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan, or the receipt by Seller or any ERISA Affiliate of a notice from a
Multiemployer Plan that such action has been taken by PBGC with respect to such Multiemployer Plan; 

  

	 	(D)	the complete or partial withdrawal from a Multiemployer Plan by Seller or any ERISA Affiliate that results in liability under Section 4201 or 4204 of ERISA (including the obligation to satisfy secondary liability
as a result of a purchaser default) or the receipt by Seller or any ERISA Affiliate of notice from a Multiemployer Plan that it is in reorganization or insolvency pursuant to Section 4241 or 4245 of ERISA or that it intends to terminate or has
terminated under Section 4041A of ERISA; 

  

	 	(E)	the institution of a proceeding by a fiduciary of any Multiemployer Plan against Seller or any ERISA Affiliate to enforce Section 515 of ERISA, which proceeding is not dismissed within 30 days; and

  

	 	(F)	the adoption of an amendment to any Plan that, pursuant to Section 401(a)(29) of the Code, would result in the loss of tax-exempt status of the trust of which such Plan is a part if Seller or an ERISA Affiliate
fails to timely provide security to such Plan in accordance with the provisions of said Sections. 

  

	 	vi.	Seller shall furnish to Buyer and Agent, at the time it furnishes each set of financial statements pursuant to paragraphs (i), (ii) and (iii) above, a certificate of a Responsible Officer of Seller to the
effect that, to the best of such Responsible Officer’s knowledge, Seller during such period has observed or performed all of its covenants and other agreements, and satisfied every condition, contained in this Agreement and the other Program
Documents to be observed, performed or satisfied by it, and that such Responsible Officer has obtained no knowledge of any Default or Event of Default except as specified in such certificate (and, if any Default or Event of Default has occurred and
is continuing, describing the same in reasonable detail and describing the action Seller has taken or proposes to take with respect thereto), which such certificate shall contain calculations for the covenants set forth in Sections 22(i), 22(j) and
22(k). 

  

	 	(f)	Existence, Etc. Each of Seller and its Subsidiaries will: 

  

	 	i.	preserve and maintain its legal existence and all of its material rights, privileges, licenses and franchises; 

  

	 	ii.	comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities and other Requirements of Law (including, without limitation, truth in lending, real estate settlement
procedures, consumer protection and all environmental laws) if failure to comply with such requirements would be reasonably likely (either individually or in the aggregate) to have a Material Adverse Effect; 

  
 A-I-31 

	 	iii.	keep adequate records and books of account, in which complete entries will be made in accordance with GAAP consistently applied; 

  

	 	iv.	not move its chief executive office or chief operating office from the addresses of such offices on the date hereof unless it shall have provided Buyer and Agent thirty (30) days prior written notice of such
change; 

  

	 	v.	pay and discharge all taxes, assessments and governmental charges or levies imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such
tax, assessment, charge or levy the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; and 

 

	 	vi.	permit representatives of Buyer and/or Agent on behalf of Buyer, during normal business hours upon prior written notice at a mutually desirable time (or at any time and from time to time upon the occurrence of an Event
of Default and during the continuance thereof), to examine, copy and make extracts from its books and records, to inspect any of its Properties, and to discuss its business and affairs with its officers, all to the extent reasonably requested by
Buyer or Agent; 

  

	 	(g)	Prohibition of Fundamental Changes. Seller shall not enter into any transaction of merger or consolidation or amalgamation (other than a merger, consolidation or amalgamation where the Seller is the surviving
entity), or liquidate, wind up or dissolve itself (or suffer any liquidation, winding up or dissolution) or sell all or substantially all of its Mortgage Loans other than in connection with a whole loan sale or securitization, the proceeds of which
shall be used to repurchase Purchased Mortgage Loans and all other Obligations then due and payable hereunder (other than entering into Transactions which will continue to be secured by the Purchased Items pursuant to the terms hereof).

  

	 	(h)	Minimum Tangible Net Worth. Seller shall at all times maintain a Tangible Net Worth of $70,000,000 plus 50% of aggregate positive quarterly Net Income beginning as of the date of the Agreement. 

 

	 	(i)	Minimum Liquidity. Seller shall at all times maintain Liquidity in an amount greater than or equal to $10,000,000. 

  

	 	(j)	Maximum Leverage. Seller shall at all times maintain a ratio of its total assets to Tangible Net Worth of less than 12:1. 

  

	 	(k)	Transactions with Affiliates. Seller will not enter into any transaction, including, without limitation, any purchase, sale, lease or exchange of property or the rendering of any service, with any Affiliate
unless such transaction is (a) otherwise permitted under the Agreement, (b) in the ordinary course of Seller’s business and (c) upon fair and reasonable terms no less favorable to Seller than it would obtain in a comparable
arm’s length transaction with a Person which is not an Affiliate, or make a payment that is not otherwise permitted by this Paragraph 22(l). 

  

	 	(l)	Use of Proceeds. Seller will use the proceeds of any Purchase Price solely to originate, purchase, fund, manage and service Purchased Mortgage Loans and other Mortgage Loans, to pay expenses related to any of the
foregoing, and for general working capital purposes. 

  

	 	(m)	 Limitation on Liens. Seller will defend the Purchased Items against, and will take such other action as is necessary to remove, any Lien,
security interest or claim on or to the Purchased Items, other than the security interests created under the Agreement, and Seller will defend the right, title and interest of Buyer in and to any of the Purchased Items against the claims and demands
of all persons whomsoever. Seller shall not sell, assign, transfer 

  
 A-I-32 

	 	
or otherwise dispose of, or grant any option with respect to, or pledge, hypothecate or grant a security interest in or lien on or otherwise encumber (except pursuant to the Program Documents),
any of the Purchased Items or any interest therein, provided that this Paragraph 22(n) shall not prevent any contribution, assignment, transfer or conveyance of Purchased Items in accordance with the Program Documents. 

 

	 	(n)	Limitation on Sale of Mortgage Loans. Seller shall not convey, sell, lease, assign, transfer or otherwise dispose of (collectively, “Transfer”), all or substantially all of its Property, business
or assets (including, without limitation, receivables and leasehold interests) whether now owned or hereafter acquired or allow any Subsidiary to Transfer substantially all of its assets to any Person; provided, that Seller may after prior
written notice to Buyer and Agent allow such action with respect to any Subsidiary which is not a material part of Seller’s overall business operations or any sale of Purchased Items hereunder, including a whole loan sale or securitization, the
proceeds of which shall be used to repurchase Purchased Mortgage Loans and satisfy other Obligations as provided hereunder (other than entering into Transactions which will continue to be secured by the Purchased Items pursuant to the terms hereof).

  

	 	(o)	Solvency. Seller is solvent and shall not be rendered insolvent by the transactions contemplated by the Agreement and the other Program Documents, and, after giving effect to such transactions, shall not be left
with an unreasonably small amount of capital with which to engage in its business. Seller shall not incur debts beyond its ability to pay such debts as they mature. Seller shall not contemplate the commencement of insolvency, bankruptcy, liquidation
or consolidation proceedings or the appointment of a receiver, liquidator, conservator, trustee or similar official in respect of Seller or any of its assets. Seller shall not have a judgment entered against it returned unsatisfied. Seller shall not
pledge the Purchased Items to Buyer, as provided in the Agreement, with any intent to hinder, delay or defraud any of its creditors. 

  

	 	(p)	No Amendment or Waiver. Seller will not, nor will it permit or allow others to amend, modify, terminate or waive any provision of any Purchased Mortgage Loan to which Seller is a party in any manner which shall
reasonably be expected to materially and adversely affect the value of such Purchased Mortgage Loan. 

  

	 	(q)	Maintenance of Property; Insurance. As applicable, Seller shall keep all property useful and necessary in its business in good working order and condition. Seller shall cause any servicer of the Purchased
Mortgage Loans to maintain errors and omissions insurance and blanket bond coverage in such amounts as are in effect on the date hereof (as disclosed to Buyer and Agent in writing) and shall also maintain or cause such servicer to maintain such
other insurance with financially sound and reputable insurance companies, and with respect to property and risks of a character usually maintained by entities engaged in the same or similar business similarly situated, against loss, damage and
liability of the kinds and in the amounts customarily maintained by such entities. 

  

	 	(r)	Further Identification of Purchased Items. Seller will furnish to Buyer and Agent from time to time statements and schedules further identifying and describing the Purchased Items and such other reports in
connection with the Purchased Items as Buyer or Agent may reasonably request, all in reasonable detail. 

  

	 	(s)	Purchased Mortgage Loan Determined to be Defective. Upon discovery by Seller, Buyer or Agent of any breach of any loan level representation or warranty contained herein, the party discovering such breach shall
promptly give notice of such discovery to the others. 

  

	 	(t)	 Further Documentation. At any time and from time to time, upon the written request of Buyer and Agent, and at the sole expense of Seller,
Seller will promptly and duly execute and deliver such further instruments and documents and take such further actions as Buyer and Agent may request in order to ensure Buyer has a valid, first priority, perfected security

  
 A-I-33 

	 	
interest in the Purchased Items or for the purposes of obtaining or preserving the full benefits of the Agreement and of the rights and powers herein granted. If any amount payable under or in
connection with any of the Purchased Items shall be or become evidenced by any instrument (including any certificated security or promissory note) or chattel paper (in each case as defined in the UCC), such instrument or chattel paper shall be
immediately delivered to the custodian under the Custodial Agreement (if any), on behalf of Buyer, duly endorsed in a manner satisfactory to Buyer, to be held as Purchased Items pursuant to the Agreement. Prior to such delivery, Seller shall hold
all such instruments or chattel paper in trust as agent for Buyer and shall not commingle any of the foregoing with any Mortgage Loans of Seller. 

  

	 	(u)	Servicing Transmission. Seller shall provide to Buyer and Agent on a monthly basis no later than 11:00 a.m. New York City time two (2) Business Days prior to each Repurchase Date (or such other day requested
by Buyer or Agent) (i) a data tape, on an asset-by-asset basis and in the aggregate, summarizing (A) Seller delinquency and loss experience with respect to Mortgage Loans serviced by Seller hereunder and on a portfolio basis (including the
following categories: current, 30-59, 60-89 and 90+), (B) with respect to Purchased Mortgage Loans, any Mortgagor that is in bankruptcy and (C) with respect to Purchased Mortgage Loans, any amendments, modifications or waivers of any term
or condition of or extension of the scheduled maturity date or modification of the interest rate of any item of the Purchased Mortgage Loan or settlement or compromise of any claim in respect of any Purchased Mortgage Loan and (ii) any other
information reasonably requested by Buyer or Agent with respect to the Purchased Mortgage Loans. Each monthly servicing report described above shall separately identify Purchased Mortgage Loans subject to outstanding Transactions hereunder and the
related Purchase Date therefor. 

  

	 	(v)	Taxes, Etc. Seller shall pay and discharge or cause to be paid and discharged, when due, all taxes, assessments and governmental charges or levies imposed upon Seller or upon its income and profits or upon any of
its property, real, personal or mixed (including without limitation, the Purchased Mortgage Loans) or upon any part thereof, as well as any other lawful claims which, if unpaid, might become a Lien upon such properties or any part thereof, except
for any such taxes, assessments and governmental charges, levies or claims as are appropriately contested in good faith by appropriate proceedings diligently conducted and with respect to which adequate reserves are provided. Seller shall file on a
timely basis all federal, state and local tax and information returns, reports and any other information statements or schedules required to be filed by or in respect of it. 

 

	 	(w)	Establishment of Collection Account. Buyer may, during the continuance of an Event of Default, require Seller to establish the Collection Account for the sole and exclusive benefit of Buyer upon written notice
from Buyer to Seller. Seller shall segregate all amounts collected on account of the Purchased Mortgage Loans, to be held in trust for the benefit of Buyer, and shall remit such collections in accordance with Buyer’s written instructions (if
any). No amounts deposited into such account shall be removed without Buyer’s prior written consent. Seller shall follow the instructions of Buyer with respect to the Purchased Mortgage Loans and deliver to Buyer and Agent any information with
respect to the Purchased Mortgage Loans reasonably requested by Buyer or Agent. Upon and after the occurrence of a Default, Seller shall deposit or credit to the Collection Account all items to be deposited or credited thereto irrespective of any
right of setoff or counterclaim arising in favor of it (or any third party claiming through it) under any other agreement or arrangement. 

  

	 	(x)	Agreement to Deliver Documents. Seller agrees that upon execution and delivery of this Agreement and thereafter upon reasonable request of Buyer and Agent, it will deliver to Buyer and Agent: 

 

	 	i.	evidence of authority and specimen signatures of individuals executing this Agreement and any Confirmation hereunder; 

  
 A-I-34 

	 	ii.	a correct, complete and executed U.S. Internal Revenue Service Form W-8BEN, W-8IMY, W-8ECI, W-9 (or any successor thereto), including appropriate attachments, that eliminates U.S. federal backup withholding tax on
payments under this Agreement; and 

  

	 	iii.	a copy of its organizational documents, including ail amendments thereto, and such other documents as the other party may reasonably request in connection with its “know your customer’’ and anti-money
laundering compliance programs. 

  

	 	(y)	Agency Audit and Approval Maintenance. Seller shall (i) at all times maintain copies of relevant portions of all Agency Audits in which there are material adverse findings, including without limitation
written notices of defaults, written notices of termination of approved status, written notices of imposition of supervisory agreements or interim servicing agreements, and written notices of probation, suspension, or non-renewal, (ii) provide
Buyer and Agent with copies of such Agency Audits promptly upon Agent’s or Buyer’s request, and (iii) take all actions necessary to maintain its respective Approvals. 

 

	 	23.	Indemnity and Expenses. 

  

	 	(a)	Seller agrees to hold Buyer, Agent, and their respective Affiliates and their officers, directors, employees, agents and advisors (each an “Indemnified Party”) harmless from and indemnify each Indemnified
Party against all liabilities, losses, damages, judgments and costs and expenses relating thereto of any kind which may be imposed on, incurred by or asserted against such Indemnified Party (collectively, the “Costs”) relating to or
arising out of this Agreement, any other Program Document or any transaction contemplated hereby or thereby, or any amendment, supplement or modification of, or any waiver or consent under or in respect of, this Agreement, any other Program Document
or any transaction contemplated hereby or thereby, that, in each case, results from anything other than such Indemnified Party’s gross negligence or willful misconduct (including failure by Buyer or Agent to comply with applicable law). Without
limiting the generality of the foregoing, Seller agrees to hold each Indemnified Party harmless from and indemnify such Indemnified Party against all Costs with respect to all Mortgage Loans relating to or arising out of any violation or alleged
violation of any applicable laws, rules and regulations that, in each case, results from anything other than such Indemnified Party’s gross negligence or willful misconduct. In any suit, proceeding or action brought by an Indemnified Party in
connection with any Mortgage Loan for any sum owing thereunder, or to enforce any provisions of any Mortgage Loan, Seller will save, indemnify and hold each Indemnified Party harmless from and against all expense, loss or damage, suffered by reason
of any defense, set-off, counterclaim, recoupment or reduction of liability whatsoever of the account debtor or obligor thereunder, arising out of a breach by Seller of any obligation thereunder or arising out of any other agreement, indebtedness or
liability at any time owing to or in favor of such account debtor or obligor or its successors from Seller. Seller also agrees to reimburse an Indemnified Party as and when billed by such Indemnified Party for all such Indemnified Party’s costs
and expenses incurred in connection with the enforcement or the preservation of such Indemnified Party’s rights under this Agreement, any other Program Document or any transaction contemplated hereby or thereby, including without limitation the
reasonable fees and disbursements of its counsel. Seller hereby acknowledges that, the obligations of Seller under this Agreement are recourse obligations of Seller. 

 

	 	(b)	 Seller agrees to pay as and when billed by Buyer and/or Agent all of the reasonable out-of pocket costs and expenses incurred by Buyer, Agent and/or
Custodian in connection with the negotiation, development, preparation and execution of, any amendment, supplement or modification to, and enforcement of (including any waivers) this Agreement, any other Program Document or any other documents
prepared in connection herewith or therewith (regardless of whether a Transaction is entered into hereunder) and the taking of any action, including legal action, required or permitted to be taken by Buyer or Agent (without

  
 A-I-35 

	 	
duplication to Buyer or Agent, as applicable) and/or custodian pursuant thereto, any “due diligence” or loan agent reviews conducted by Buyer or Agent or on its behalf or by refinancing
or restructuring in the nature of a “workout”. Seller agrees to pay as and when billed by Buyer or Agent all of the reasonable out-of-pocket costs and expenses incurred in connection with the consummation and administration of the
transactions contemplated hereby and thereby including, without limitation, (i) all the reasonable fees, disbursements and expenses of counsel to Buyer and Agent and (ii) all the due diligence, inspection, testing and review costs and
expenses incurred by Buyer and Agent with respect to Purchased Items. Seller also agrees not to assert any claim against Buyer or Agent or any of their Affiliates, or any of their respective officers, directors, employees, attorneys and agents, on
any theory of liability, for special, indirect, consequential or punitive damages arising out of or otherwise relating to the Program Documents, the actual or proposed use of the proceeds of the Transactions, this Agreement or any of the
transactions contemplated hereby or thereby. THE FOREGOING INDEMNITY AND AGREEMENT NOT TO ASSERT CLAIMS EXPRESSLY APPLIES, WITHOUT LIMITATION, TO THE NEGLIGENCE (BUT NOT GROSS NEGLIGENCE OR WILLFUL MISCONDUCT) OF THE INDEMNIFIED PARTIES.

  

	 	(c)	If Seller fails to pay when due any costs, expenses or other amounts payable by it under this Agreement, including, without limitation, reasonable fees and expenses of counsel and indemnities, such amount may be paid on
behalf of Seller by Buyer or Agent, in its sole discretion and Seller shall remain liable for any such payments by Buyer or Agent. No such payment by Buyer or Agent shall be deemed a waiver of any of Buyer’s or Agent’s rights under the
Program Documents. 

  

	 	(d)	Without prejudice to the survival of any other agreement of Seller hereunder, the covenants and obligations of Seller contained in this Paragraph 23 shall survive the payment in full of the Repurchase Price and all
other amounts payable hereunder and delivery of the Purchased Mortgage Loans by Buyer against full payment therefor. 

  

	 	24.	Submission and Service of Process. Each party irrevocably and unconditionally (i) submits to the non-exclusive jurisdiction of any United States Federal or New York State court sitting in Manhattan, and any
appellate court from any such court, solely for the purpose of any suit, action or proceeding brought to enforce its obligations under the Agreement or relating in any way to the Agreement or any Transaction under the Agreement and (ii) waives,
to the fullest extent it may effectively do so, any defense of an inconvenient forum to the maintenance of such action or proceeding in any such court and any right of jurisdiction on account of its place of residence or domicile. 

 

	 	25.	Waiver of Immunity. Each party hereto hereby waives, to the fullest extent permitted by applicable law, all immunity (whether on the basis of sovereignty or otherwise) from jurisdiction, attachment (both before
and after judgment) and execution to which it might otherwise be entitled in any action or proceeding in any state or federal court or court of any other country or jurisdiction, relating in any way to this Agreement or any Transaction, and agrees
that it will not raise, claim or cause to be pleaded any such immunity at or in respect of any such action or proceeding. 

  

	 	26.	Force Majeure. Buyer, Agent and Seller shall not be responsible or liable for any failure or delay in the performance of their respective obligations under the Agreement arising out of or caused, directly or
indirectly, by circumstances beyond their reasonable control, including without limitation, acts of God; earthquakes; fires; floods; wars; civil or military disturbances; sabotage; epidemics; riots; interruptions; loss or malfunctions of utilities;
computer (hardware or software) or communications service; accidents; labor disputes; acts of civil or military authority or governmental actions; it being understood that Buyer, Agent and Seller shall use their best efforts to resume performance as
soon as practicable under the circumstances. 

  

	 	27.	 Counterparts. This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall
be an original, but all such counterparts shall 

  
 A-I-36 

	 	
together constitute but one and the same instrument. The parties agree that this Agreement, any documents to be delivered pursuant to this Agreement and any notices hereunder may be transmitted
between them by email and/or facsimile. The parties intend that faxed signatures and electronically imaged signatures such as .pdf files shall constitute original signatures and are binding on all parties. 

 

	 	28.	Hypothecation or Pledge of Purchased Mortgage Loans. Buyer shall have free and unrestricted use of all Purchased Mortgage Loans and nothing in this Agreement shall preclude Buyer from engaging in repurchase
transactions with the Purchased Mortgage Loans or otherwise pledging, repledging, transferring, hypothecating, or rehypothecating the Purchased Mortgage Loans. Nothing contained in this Agreement shall obligate Buyer to segregate any Purchased
Mortgage Loans delivered to Buyer by Seller. 

  

	 	29.	Termination. This Agreement shall remain in effect until the Termination Date. However, no such termination shall impair Seller’s outstanding Obligations to Buyer or Agent at the time of such termination.
Seller’s obligations under Paragraph 3(e) and Paragraph 23 and any other reimbursement or indemnity obligation of Seller to Buyer or Agent pursuant to this Agreement or any other Program Documents shall survive the termination hereof.

  

	 	30.	Further Assurances. Seller agrees to do such further acts and things and to execute and deliver to Buyer and Agent such additional assignments, acknowledgments, agreements, powers and instruments as are
reasonably required by Buyer or Agent to carry into effect the intent and purposes of this Agreement and the other Program Documents, to perfect the interests of Buyer in the Purchased Items or to better assure and confirm unto Buyer its rights,
powers and remedies hereunder and thereunder. 

  

	 	31.	Servicing. 

  

	 	(a)	Seller covenants to maintain or cause the servicing of the Purchased Mortgage Loans to be maintained in conformity with Accepted Servicing Practices and pursuant to the related underlying Servicing Agreement. In the
event that the preceding language is interpreted as constituting one or more servicing contracts, each such servicing contract shall terminate automatically upon the earliest, of (i) the termination thereof by Buyer pursuant to subparagraph
(d) below, (ii) thirty (30) days after the last Purchase Date of such Purchased Mortgage Loan, (iii) a Default or an Event of Default, (iv) the date on which all the Obligations have been paid in full, or (v) the
transfer of servicing to any entity approved by Buyer and Agent and the assumption thereof by such entity. Upon any such termination, Seller shall comply with the requirements set forth in Paragraph 31(f) as to the delivery of the Servicing Records
and the physical servicing of each Purchased Mortgage Loan. 

  

	 	(b)	During the period Seller is servicing the Purchased Mortgage Loans, (i) Seller agrees that Buyer is the owner of the Servicing Rights and all servicing records, including but not limited to any and all servicing
agreements, files, documents, records, data bases, computer tapes, copies of computer tapes, proof of insurance coverage, insurance policies, appraisals, other closing documentation, payment history records, and any other records relating to or
evidencing the servicing of such Mortgage Loans (the “Servicing Records”), and (ii) Seller grants Buyer a security interest in all servicing fees and rights relating to the Purchased Mortgage Loans and all Servicing Records to secure
the obligation of Seller or its designee to service in conformity with this Paragraph 31 and any other obligation of Seller to Buyer. At all times during the term of this Agreement, Seller covenants to hold such Servicing Records in trust for Buyer
and to safeguard, or cause each Subservicer to safeguard, such Servicing Records and to deliver them, or cause any such Subservicer to deliver them to the extent permitted under the related Servicing Agreement promptly to Buyer or its designee
(including Custodian) at Buyer’s request or otherwise as required by operation of Paragraph 31(f) hereof. It is understood and agreed by the parties that prior to an Event of Default, Seller, as servicer shall retain the servicing fees with
respect to the Purchased Mortgage Loans. 

  
 A-I-37 

	 	(c)	If any Mortgage Loan that is proposed to be sold on a Purchase Date is serviced by a servicer other than Seller (a “Subservicer”), or if the servicing of any Purchased Mortgage Loan is to be transferred
to a Subservicer, Seller shall provide a copy of the related servicing agreement and an Instruction Letter executed by such Subservicer (collectively, the “Servicing Agreement”) to Buyer at least three (3) Business Days prior
to such Purchase Date or transfer date, as applicable, which Servicing Agreement shall be in form and substance acceptable to Buyer and Agent. In addition, Seller shall have obtained the prior written consent of Buyer and Agent for such Subservicer
to subservice the Mortgage Loans. 

  

	 	(d)	In addition to the rights provided in Paragraph 31(a), Buyer shall have the right, exercisable at any time in its sole discretion, upon written notice, to terminate Seller or any Subservicers as servicer or subservicer,
respectively, and any related Servicing Agreement, free and clear of any obligations (including without limitation any obligation to pay or reimburse any previous servicer for outstanding servicing advances). Upon any such termination, Seller shall
transfer or shall cause Subservicer to transfer such servicing with respect to such Purchased Mortgage Loans to Buyer or its designee, at no cost or expense to Buyer. Seller agrees to cooperate with Buyer and Agent in connection with the transfer of
servicing. 

  

	 	(e)	Buyer shall have the right in its sole discretion to appoint a third party to perform due diligence with respect to Seller’s servicing facilities at any time. Seller shall cooperate with Buyer and/or its designees
to provide access to Seller’s servicing facilities upon reasonable prior written notice at a mutually convenient time including without limitation its books and records with respect to Seller’s servicing portfolio and the Purchased
Mortgage Loans. In addition to the foregoing, Seller shall permit Buyer or Agent on Buyer’s behalf to inspect upon reasonable prior written notice at a mutually convenient time, Seller’s or its Affiliate’s servicing facilities, as the
case may be, for the purpose of satisfying Buyer that Seller or its Affiliate, as the case may be, has the ability to service the Mortgage Loans as provided in this Agreement. In addition, with respect to any Subservicer which is not an Affiliate of
Seller, Seller shall use its best efforts to enable Buyer and Agent to inspect the servicing facilities of such Subservicer and to cause such Subservicer to cooperate with Buyer, Agent and/or their designees in connection with any due diligence
performed by Buyer, Agent and/or such designees in accordance with this Paragraph 31(e). Seller, Buyer and Agent further agree that all reasonable out-of-pocket costs and expenses incurred by Buyer and Agent in connection with any due diligence or
inspection performed pursuant to this Paragraph 31(e) shall be paid by Seller; provided, that in the absence of an Event of Default that has occurred and is continuing, the Seller shall not be obligated to reimburse the Buyer for any due diligence
or inspection performed more than once per fiscal year. 

  

	 	(f)	 With respect to the Servicing Rights appurtenant to each Purchased Mortgage Loan, Buyer shall own, and Seller shall deliver, such Servicing Rights to
Buyer on the related Purchase Date. Seller shall deliver (or cause the related Subservicer to deliver) the Servicing Records and the physical and contractual servicing of each Purchased Mortgage Loan, to Buyer or its designee upon the termination of
Seller or Subservicer as the servicer or subservicer, respectively, pursuant to Paragraph 31(d). In addition, with respect to the Servicing Records for each Purchased Mortgage Loan and the physical and contractual servicing of each Purchased
Mortgage Loan, the related Seller shall deliver (or cause the related Subservicer to deliver) such Servicing Records and, to the extent applicable, the servicing to Buyer or its designee within thirty (30) days of the earlier of (i) the
termination of Seller or Subservicer as the servicer or subservicer, respectively, of the Purchased Mortgage Loans and (ii) the related Purchase Date for each such Purchased Mortgage Loan (the “Servicing Delivery Requirement”).
Notwithstanding the foregoing, such Servicing Delivery Requirement will be deemed restated for each such Purchased Mortgage Loan on each Repurchase Date on which such Purchased Mortgage Loan is repurchased by Seller and becomes subject to a new
Transaction (and the immediately preceding delivery requirement will be deemed to be rescinded), and a new 30-day 

  
 A-I-38 

	 	
Servicing Delivery Requirement will be deemed to commence for such Purchased Mortgage Loans as of such Repurchase Date in the absence of directions to the contrary from Buyer. Further, the
Servicing Delivery Requirement will no longer apply to any Purchased Mortgage Loan that is repurchased in full by the related Seller in accordance with the provisions of this Agreement and is no longer subject to a Transaction. Seller’s
transfer of the Servicing Rights, Servicing Records and the physical and contractual servicing under this Paragraph shall be in accordance with customary standards in the industry and such transfer shall include the transfer of the gross amount of
all escrows held for the related Mortgagors (without reduction for unreimbursed advances or “negative escrows”). 

  

	 	32.	Set-off. In addition to any rights and remedies of Buyer provided by this Agreement and by law, Buyer shall have the right, without prior notice to Seller, any such notice being expressly waived by Seller to the
extent permitted by applicable law, upon any amount becoming due and payable by Seller hereunder (whether at the stated maturity, by acceleration or otherwise) to set-off and appropriate and apply against such amount any and all Property and
deposits (general or special, time or demand, provisional or final), in any currency, and any other credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time
held or owing by Buyer, Agent or any Affiliate thereof to or for the credit or the account of Seller. Buyer (or Agent on Buyer’s behalf) may set-off cash, the proceeds of the liquidation of any Purchased Items and all other sums or obligations
owed by Buyer or its Affiliates to Seller against all of Seller’s obligations to Buyer or its Affiliates, whether under this Agreement or under any other agreement between the parties or between Seller and any Affiliate of Buyer or Agent, or
otherwise, whether or not such obligations are then due, without prejudice to Buyer’s or its Affiliate’s right to recover any deficiency. Buyer agrees promptly to notify Seller after any such set-off and application made by Buyer or Agent
on Buyer’s behalf; provided that the failure to give such notice shall not affect the validity of such set-off and application. 

  

	 	33.	Periodic Due Diligence Reviews. Seller acknowledges that Buyer has the right to perform continuing due diligence reviews with respect to the Purchased Mortgage Loans for purposes of verifying compliance with the
representations, warranties, covenants and specifications made hereunder or under any other Program Document, or otherwise, and Seller agrees that upon reasonable (but no less than three (3) Business Days’) prior notice to Seller (provided
that upon the occurrence of a Default or an Event of Default, no such prior notice shall be required), Buyer, Agent or their authorized representatives will be permitted during normal business hours to examine, inspect, make copies of, and make
extracts of, the Mortgage Files, the Servicing Records and any and all documents, records, agreements, instruments or information relating to such Mortgage Loans in the possession, or under the control, of Seller and/or Custodian. Seller also shall
make available to Buyer or Agent, as applicable, a knowledgeable financial or accounting officer for the purpose of answering questions respecting the Mortgage Files and the Mortgage Loans. Without limiting the generality of the foregoing, Seller
acknowledges that Buyer shall purchase Mortgage Loans from Seller based solely upon the information provided by Seller to Buyer and Agent in the Mortgage Loan Schedule and the representations, warranties and covenants contained herein, and that
Buyer, at its option, has the right, at any time to conduct, or cause Agent to conduct on its behalf, a partial or complete due diligence review on some or all of the Purchased Mortgage Loans, including, without limitation, ordering new credit
reports, new appraisals on the related Mortgaged Properties and otherwise re-generating the information used to originate such Mortgage Loan. Buyer may underwrite such Mortgage Loans itself or engage a third party underwriter to perform such
underwriting. Seller agrees to cooperate with Buyer, Agent and any third party underwriter in connection with such underwriting, including, but not limited to, providing Buyer, Agent and any third party underwriter with access to any and all
documents, records, agreements, instruments or information relating to such Mortgage Loans in the possession, or under the control, of Seller. In addition, Buyer has the right to perform (or cause Agent on its behalf to perform) continuing Due
Diligence Reviews (including, without limitation, operational, legal, corporate and background due diligence) of Seller and its Affiliates, directors, and their respective Subsidiaries and the officers, employees and significant shareholders
thereof. Seller and Buyer further agree that all reasonable out-of-pocket costs and expenses incurred by Buyer and Agent in connection with Buyer’s or Agent’s activities pursuant to this Paragraph 33 shall be paid by Seller.

  
 A-I-39 

	 	34.	Delay Not Waiver; Rights Cumulative. No failure on the part of Buyer to exercise, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise by Buyer of arty right, power or remedy hereunder preclude any other or further exercise thereof or the exercise of any other right, power or remedy. All rights and remedies of Buyer provided for herein are cumulative and in
addition to any and all other rights and remedies provided by law, the Program Documents and the other instruments and agreements contemplated hereby and thereby, and are not conditional or contingent on any attempt by Buyer to exercise any of its
rights under any other related document. Buyer may exercise at any time after the occurrence of an Event of Default one or more remedies, as it so desires, and may thereafter at any time and from time to time exercise any other remedy or remedies.

  

	 	35.	WAIVER OF TRIAL BY JURY. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY PROCEEDINGS IN CONNECTION WITH THE AGREEMENT. 

 

	 	36.	Confidentiality. Each party acknowledges that Confidential Information (as defined below) may be exchanged between the parties pursuant to this Agreement. Each party shall use no less than the same means it uses
to protect its similar confidential and proprietary information, but in any event not less than reasonable means, to prevent the disclosure and to protect the confidentiality of the Confidential Information of the other party. Each party agrees that
it will not disclose or use the Confidential Information of the other party except for the purposes of this Agreement and as authorized herein. Notwithstanding the foregoing, the recipient of Confidential Information (the
“Recipient”) may use or disclose the Confidential Information to the extent that such Confidential Information is: (a) already known by the Recipient without an obligation of confidentiality, (b) publicly known or becomes
publicly known through no unauthorized act of the Recipient, (c) rightfully received from a third party without any obligation of confidentiality, (d) independently developed by the Recipient without use of the Confidential Information of
the disclosing party (the “Disclosing Party”), (e) approved by the Disclosing Party for disclosure, or (f) required to be disclosed pursuant to a requirement of a governmental agency, regulatory or self-regulatory agency
or law; provided that, to the extent permitted by the requesting body, the Recipient provides the other party with notice of such requirement prior to any such disclosure and requests that the requesting body afford confidential treatment to the
information disclosed. In the event of any unauthorized disclosure or loss of, or inability to account for, Confidential Information of the Disclosing Party, the Recipient will, to the extent permitted by applicable law, notify the Disclosing Party
immediately and will take all available steps to terminate the unauthorized use or further unauthorized disclosure of the Confidential Information of the Disclosing Party. “Confidential Information” shall mean all information disclosed to
one party to this Agreement by the other party to this Agreement in written, verbal, graphic, recorded, photographic, or any other form about such Disclosing Party and its business, including without limitation business partners and suppliers,
financial statements, intellectual property rights, products, research and development, costing, licensing and pricing, disclosed in writing, verbally or visually, designated as confidential at the time of disclosure or is of a nature that a
reasonable person would consider the information confidential. 

  

	 	37.	Appointment of Agent. Buyer appoints and authorizes Agent to act on behalf of Buyer under this Agreement and the other Program Documents and to exercise such powers hereunder and thereunder as are specifically
delegated to Agent by the terms hereof and thereof, together with such powers as may be reasonably incidental thereto, including without limitation the power to execute or authorize the execution of financing or similar statements or notices, and
other documents. Seller hereby consents to such appointment and authorization. In performing its functions and duties under this Agreement and each other Program Document, Agent shall act solely as agent of Buyer and does not assume and shall in no
event be deemed to have assumed any obligation towards, or relationship of agency or trust with, or for, the Seller or any other Person. 

  
 A-I-40 

	 	38.	Scope of Agent’s Duties. 

  

	 	a.	Agent shall have no duties or responsibilities except those expressly set forth herein, and shall not, by reason of this Agreement or otherwise, have a fiduciary relationship with Buyer (and no implied covenants or
other obligations shall be read into this Agreement against Agent). None of Agent, its Affiliates nor any of their respective directors, officers, employees or agents shall be liable to Buyer for any action taken or omitted to be taken by it or them
under this Agreement or any document executed pursuant hereto, or in connection herewith or therewith with the consent or at the request of Buyer (except for its or their own willful misconduct or gross negligence), nor be responsible for or have
any duties to ascertain, inquire into or verify (i) any recitals or warranties made by the Seller or any Affiliate of the Seller, or any officer thereof contained herein or therein, (ii) the effectiveness, enforceability, validity or due
execution of this Agreement, any other Program Document or any document executed pursuant hereto or any security thereunder, (iii) the performance by the Seller of its obligations hereunder or thereunder, or (iv) the satisfaction of any
condition hereunder or thereunder, including without limitation in connection with the making of any Transaction. Agent and its Affiliates shall be entitled to rely upon any certificate, notice, document or other communication (including any
facsimile or electronic transmission or oral or telephonic communication) believed by it to be genuine and correct and to have been sent or given by or on behalf of a proper person. Agent may employ agents and may consult with legal counsel,
independent public accountants and other experts selected by it and shall not be liable to Buyer for the negligence or misconduct of any such agent selected by it with reasonable care or for any action taken or omitted to be taken by it in good
faith in accordance with the advice of such counsel, accountants or experts. 

  

	 	b.	Except as otherwise expressly provided herein, whenever Agent is authorized and empowered hereunder on behalf of Buyer to give any approval or consent, or to make any request, or to take any other action on behalf of
Buyer (including without limitation the exercise of any right or remedy hereunder or under the other Program Documents), Agent shall be required to give such approval or consent, or to make such request or to take such other action only when so
requested in writing by Buyer hereunder. Action that may be taken by Buyer may be taken by Agent on behalf of Buyer pursuant to the written request or direction of Buyer as required hereunder. 

 

	 	c.	Except as otherwise expressly provided under this Agreement or in any of the other Program Documents and subject to the terms hereof, Agent will take such action, assert such rights and pursue such remedies under this
Agreement and the other Program Documents as Buyer shall direct; provided, however, that Agent shall not be required to act or omit to act if, in the reasonable judgment of Agent, such action or omission may expose Agent to personal liability
for which Agent has not been satisfactorily indemnified hereunder or is contrary to this Agreement, any of the Program Documents or applicable law. Except as expressly provided above or elsewhere in this Agreement or the other Program Documents,
Agent shall not be entitled to take any enforcement action of any kind under this Agreement or any of the other Program Documents. 

  

	 	d.	 Notwithstanding anything contained in Section 23 to the contrary, Agent shall charge such fees for its services under this Agreement and each
other Program Document as are set forth in a separate agreement between Buyer and Agent (the “Fee Agreement”), the payment of which fees, shall be solely the obligation of Buyer except as expressly stated in this Agreement. The Buyer shall
also pay any reasonable out-of-pocket fees and expenses of the Agent to such fees and expenses have been approved by the Buyer in advance of being incurred by the Agent (such approval not to be unreasonably withheld). The Buyer shall also pay to the
Agent any costs, expenses, or other amounts that are payable by 

  
 A-I-41 

	 	
Seller to the Agent under Section 23 including, without limitation, reasonable fees and expenses of counsel and indemnities, if Seller shall not have made such payment to Agent when due. The
foregoing obligation to pay Agent its fees and reimburse Agent for its expenses in connection with services provided by Agent hereunder and under each other Program Agreement shall survive any resignation or removal of Agent, as applicable (for all
fees and expenses incurred prior to such resignation or removal), and the termination or assignment of this Agreement. 

  

	 	39.	Limitation on Duty to Disclose. Except as expressly set forth herein, Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Seller or any
of its Subsidiaries or Affiliates that is communicated to or obtained by Agent or any of its Affiliates in any capacity. 

  

	 	40.	Agent in its Individual Capacity. Nothing contained herein shall limit or preclude the Agent or any of its Affiliates from carrying on any business with, providing banking or other financial services to, or from
participating in any capacity, including as an equity investor, in the Seller or any of its Affiliates, in each case, without having to account therefore to Buyer. 

 

	 	41.	Agent’s Discretionary Actions. In its capacity as Agent and without seeking or obtaining the consent of Buyer (although it may elect to obtain such consent before acting it if deems that desirable), Agent
may do or perform any act or thing that, in Agent’s reasonable judgment, is necessary or appropriate to enable Agent to properly discharge and perform its duties under this Agreement or the other Program Documents or that in its reasonable
judgment is necessary or appropriate to preserve or protect the validity, integrity or enforceability of the Purchased Mortgage Loans and/or the Program Documents, the Liens created by this Agreement and its priority, or to preserve and protect the
interest of Buyer in any of the foregoing. 

  

	 	42.	Buyer’s Cooperation. Buyer agrees to cooperate with Agent and from time to time upon Agent’s request, to execute and deliver such papers as may be reasonably necessary to enable Agent to effectively
administer this Agreement and the other Program Documents and the Purchased Mortgage Loans. 

  

	 	43.	Buyer’s Acknowledgment. 

  

	 	a.	Buyer hereby acknowledges that Agent has made no representations or warranties with respect to any Purchased Mortgage Loan other than as expressly set forth in this Agreement and that Agent shall have no responsibility
for: 

  

	 	i.	the funding of any Transaction; 

  

	 	ii.	the enforcement of any Margin Deficit or the determination of any occurrence of an Event of Default; 

  

	 	iii.	the marketability or collectability of the Purchased Mortgage Loans; 

  

	 	iv.	the validity, enforceability or any legal effect of any of the Program Documents or any insurance, bond or similar device purportedly protecting any obligation to Buyer or any Purchased Mortgage Loans; or

  

	 	v.	 the financial condition of the Seller or any of its Subsidiaries or Affiliates, the status, health or viability of any industry in which any of them
is involved, the prospects for repurchase of the Purchased Mortgage Loans, the genuineness, validity or enforceability of any warehousing facility or repurchase agreement between the Seller and any other lender or repurchase agreement counterparty,
the effectiveness of any of the provisions of the Program Documents (including the financial covenants, tests and hedging requirements) or any aspect of their implementation or administration at any time to reduce or control risks of any type,

  
 A-I-42 

	 	
to produce returns, profits, yields or spreads or to reduce or control losses or the accuracy of any information supplied by or to be supplied in connection with any of the Seller or any of its
Subsidiaries or Affiliates, or otherwise with respect to this Agreement, any Purchased Mortgage Loans or any source of equity or other financing for any of the Seller, any of its Affiliates or any other warehouse lender or repurchase agreement
counterparty. 

  

	 	b.	Buyer acknowledges that it has, independently of Agent and based on the financial statements of Seller and such other documents, information and investigations as it has deemed appropriate, made its own credit decision
to extend credit hereunder from time to time. Buyer also acknowledges that it will, independently of Agent and based on such other documents, information and investigations as it shall deem appropriate at any time, continue to make its own credit
decisions as to exercising or not exercising from time to time any rights and privileges available to it under this Agreement, any Program Document or any other document executed pursuant hereto. 

 

	 	44.	Agent’s Reliance. Except in the case of its own fraud, gross negligence or willful misconduct, neither Agent, nor any of its Related Parties shall be liable for any action taken or omitted to be taken by it
or them under this Agreement or any of the other Program Documents reasonably believed by it or them to be within the discretion or power conferred upon it or them by the Program Documents or be responsible for consequences of any error of judgment.
Except as otherwise specifically and expressly set forth in this Agreement, Agent shall not be responsible in any manner to anyone for the effectiveness, enforceability, genuineness, validity or due execution of this Agreement, any supplement,
amendment or restatement of it or of any other Program Documents or for any representation, warranty, document, certificate, report or statement made or furnished in, under or in connection with this Agreement or any of the other Program Documents
or be under any obligation to anyone to ascertain or to inquire as to the performance or observation of any of the terms, covenants or conditions of this Agreement or of the other Program Documents on the part of the Seller or anyone else. Without
limiting the generality of the foregoing provisions of this Section 43, Agent may seek and rely upon the advice of legal counsel in taking or refraining to take any action under any of the Program Documents or otherwise in respect of any
Purchased Mortgage Loans, this Agreement and its parties, and shall be fully protected in relying upon such advice. 

  

	 	45.	Successor Agent. Agent may resign as such at any time upon at least thirty (30) days prior notice to the Seller and Buyer. The Buyer may replace Agent at any time upon at least thirty days prior notice to
Seller and Agent. If Agent at any time shall resign, be replaced or if the office of Agent shall become vacant for any other reason, Buyer shall, by written instrument, appoint successor agent(s) (“Successor Agent”) and, so long as
no Default or Event of Default has occurred and is continuing, approved by the Seller (which approval shall not be unreasonably conditioned, withheld or delayed). Such Successor Agent shall thereupon become Agent hereunder, as applicable, and Agent
shall deliver or cause to be delivered to any successor agent such documents of transfer and assignment as such Successor Agent may reasonably request. If a Successor Agent is not so appointed or does not accept such appointment before the resigning
Agent’s resignation becomes effective, the Buyer may appoint a temporary successor to act until such initial appointment by Buyer and, if applicable, the Seller, is made and accepted, or if no such temporary successor is appointed as provided
above by the resigning Agent, Buyer shall thereafter perform all of the duties of the resigning Agent hereunder until such initial appointment by Buyer and, if applicable, the Seller, is made and accepted. Such Successor Agent shall succeed to all
of the rights and obligations of the resigning Agent as if originally named. The resigning Agent shall duly assign, transfer and deliver to such Successor Agent all moneys at the time held by the resigning Agent hereunder after deducting therefrom
its expenses for which it is entitled to be reimbursed hereunder. Upon such succession of any such Successor Agent, the resigning Agent shall be discharged from its duties and obligations, in its capacity as Agent hereunder, except for its gross
negligence or willful misconduct arising prior to its resignation hereunder, and the provisions hereof shall continue in effect for the benefit of the resigning Agent in respect of any actions taken or omitted to be taken by it while it was acting
as Agent. 

  
 A-I-43 

	 	46.	Merger of Agent. Any Person into which Agent may be merged or converted or with which it may be consolidated, or any Person surviving or resulting from any merger, conversion or consolidation to which Agent shall
be a party or any Person succeeding to the commercial business of Agent shall be the successor Agent without the execution or filing of any paper or any further act on the part of any of the parties. 

 

	 	47.	Knowledge of Default. It is expressly understood and agreed that Agent shall be entitled to assume that no Default or Event of Default has occurred and is continuing, unless the officers of Agent immediately
responsible for matters concerning this Agreement shall have received a written notice from Buyer or the Seller specifying such Default or Event of Default and stating that such notice is a “notice of default”. Upon receiving such a
notice, Agent shall promptly notify Buyer of such Default or Event of Default and provide Buyer with a copy of such notice and shall endeavor to provide such notice to Buyer within three (3) Business Days (but without any liability whatsoever
in the event of its failure to do so). Agent shall also furnish Buyer, promptly upon receipt, with copies of all other notices or other information required to be provided by the Seller hereunder. 

 

	 	48.	Conflict of Interest Waiver. Buyer hereby acknowledges and agrees that (i) Agent and Seller have entered into a separate repurchase facility and may from time to time enter into additional repurchase
facilities which shall remain separate (unless otherwise agreed in writing therein) from the repurchase facility established by this Agreement, and (ii) any conflicts of interest resulting from any such other repurchase facilities between both
Seller and Agent are hereby expressly waived in their entirety. 

 [REMAINDER OF THIS PAGE LEFT INTENTIONALLY BLANK] 

  
 A-I-44 

 Agreed and acknowledged as of the first date set forth above: 

 

									
	BMO HARRIS BANK N.A., as Buyer	 		 	LOANDEPOT.COM, LLC, as Seller
					
	By:	 	

	 		 	By:	 	

		 	  
	 		 		 	  

	Title:	 	 Catherine Crossley

Vice President
	 		 	Title:	 	 CFO

					
	Date:	 	  
	 		 	Date:	 	  

				
	JEFFERIES FUNDING LLC, as Agent	 		 		 	
					
	By:	 	

	 		 		 	
		 	  
	 		 		 	
					
	Title:	 	 Robert J. Welch, Managing Director
	 		 		 	
					
	Date:	 	  
	 		 		 	

 Signature Page - Repo Agreement - Annex A 

  
 A-I-45 

 Schedule 1 to Annex I 

Mortgage Loan-Level Representations and Warranties 
  

	 	I.	Representations and Warranties with respect to Mortgage Loans 

 (a) Mortgage Loans as
Described. The information set forth in the Mortgage Loan Schedule delivered with respect to the Mortgage Loan is complete, true and correct in all material respects. 

(b) Payments Current. The first monthly payment on the Mortgage Loan shall be made, or shall have been made, prior to the second
scheduled monthly payment on the Mortgage Loan becoming due (after giving effect to any grace period applicable thereto). 
 (c) No
Outstanding Charges. There are no defaults in complying with the terms of the Mortgage securing the Mortgage Loan, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground
rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable. Neither Seller
nor the originator from which Seller acquired the Mortgage Loan has advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required
under the Mortgage Loan, except for interest accruing from the date of the Note or date of disbursement of the proceeds of the Mortgage Loan, whichever is earlier, to the day which precedes by one month the due date of the first installment of
principal and interest thereunder. 
 (d) Original Terms Unmodified. The terms of the Note and Mortgage have not been impaired,
waived, altered or modified in any respect, from the date of origination; except by a written instrument which has been recorded, if necessary to protect the interests of Buyer, and which has been delivered to the Custodian and the terms of which
are reflected in the Mortgage Loan Schedule. The substance of any such waiver, alteration or modification has been approved by the title insurer, to the extent required by the title insurance policy, and its terms are reflected on the Mortgage Loan
Schedule. No Mortgagor in respect of the Mortgage Loan has been released, in whole or in part, except in connection with an assumption agreement approved by the title insurer, to the extent required by such policy, and which assumption agreement is
part of the Mortgage File delivered to the Custodian and the terms of which are reflected in the Mortgage Loan Schedule. 
 (e) No
Defenses. The Mortgage Loan is not subject to any right of rescission, setoff, counterclaim or defense, including without limitation the defense of usury, nor will the operation of any of the terms of the Note or the Mortgage, or the exercise of
any right thereunder, render either the Note or the Mortgage unenforceable, in whole or in part and no such right of rescission, set-off, counterclaim or defense has been asserted with respect thereto, and no Mortgagor in respect of the Mortgage
Loan was a debtor in any state or federal bankruptcy or insolvency proceeding at the time the Mortgage Loan was originated. 
 (f) Hazard
Insurance. Each Mortgaged Property is insured as required by and in accordance with the Agency Guidelines. If any portion of the Mortgaged Property is in an area identified by any federal Governmental Authority as having special flood hazards,
and flood insurance is available, a flood insurance policy meeting the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier, in an amount representing coverage not less than the least
of (1) the outstanding principal balance of the Mortgage Loan, (2) the full insurable value of the Mortgaged Property, and (3) the maximum amount of insurance available under the Flood Disaster Protection Act of 1973, as amended. All such insurance
policies (collectively, the “hazard insurance policy”) contain a standard Mortgagee clause naming Seller, its successors and assigns (including without limitation, subsequent owners of the Mortgage Loan), as Mortgagee, and may not be
reduced, terminated or canceled without thirty (30) days’ prior written notice to the Mortgagee. No such notice has been received by Seller. All premiums due and owing on such insurance policy have been paid. The related Mortgage obligates the
Mortgagor to maintain all such insurance and, at such Mortgagor’s failure to do so, authorizes the Mortgagee to maintain such insurance at the Mortgagor’s cost and expense and to seek 

  
 Sched. 2 - 1 

 
reimbursement therefor from such Mortgagor. Where required by state law or regulation, the Mortgagor has been given an opportunity to choose the carrier of the required hazard insurance, provided
the policy is not a “master” or “blanket” hazard insurance policy covering a condominium, or any hazard insurance policy covering the common facilities of a planned unit development. The hazard insurance policy is the valid and
binding obligation of the insurer and is in full force and effect. Seller has not engaged in, and has no knowledge of the Mortgagor’s having engaged in, any act or omission which would impair the coverage of any such policy, the benefits of the
endorsement provided for herein, or the validity and binding effect of either including, without limitation, no unlawful fee, commission, kickback or other unlawful compensation or value of any kind has been or will be received, retained or realized
by any attorney, firm or other Person, and no such unlawful items have been received, retained or realized by Seller. 
 (g) Location of
Property. Each Mortgaged Property is located in the state identified in the Mortgage Loan Schedule and consists of a single parcel of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, or an
individual condominium unit in a condominium project, or an individual unit in a planned unit development or a de minimis planned unit development, provided, however, that any condominium unit or planned unit development shall conform with the
applicable Fannie Mae and Freddie Mac requirements regarding such dwellings, and that no residence or dwelling is a mobile home or a manufactured dwelling. No portion of the Mortgaged Property is used for commercial purposes. 

(h) No Mechanics’ Liens. There were no mechanics’ or similar liens or claims which have been filed for work, labor or
material (and no rights are outstanding that under the law could give rise to such liens) affecting the Mortgaged Property which are or may be liens prior to, or equal or coordinate with the lien of the Mortgage. 

(i) No Satisfaction of Mortgage. The Mortgage has not been satisfied, canceled, subordinated or rescinded, in whole or in part, and the
Mortgaged Property has not been released from the lien of the Mortgage, in whole-or in part, nor has any instrument been executed that would effect any such release, cancellation, subordination or rescission other than in the case of a release of a
portion of the land comprising a Mortgaged Property or a release of a blanket Mortgage which release will not cause the Mortgage Loan to fail to satisfy the Underwriting Guidelines. Seller has not waived the performance by the Mortgagor of any
action, if the Mortgagor’s failure to perform such action would cause the Mortgage Loan to be in default, nor has Seller waived any default resulting from any action or inaction by the Mortgagor. 

(j) Compliance with Applicable Laws. Any and all requirements of any federal, state or local law including, without limitation, usury,
truth-in-lending, all applicable predatory and abusive lending, real estate settlement procedures, consumer credit protection, equal credit opportunity or disclosure laws applicable to the origination and servicing of such Mortgage Loan have been
complied with, the consummation of the transactions contemplated hereby will not involve the violation of any such laws or regulations, and Seller shall maintain or shall cause its agent to maintain in its possession, available for the inspection of
Buyer and Agent, and shall deliver to Buyer and Agent, upon two Business Days’ request, evidence of compliance with all such requirements. 

(k) No Foreclosure or Bankruptcy. The Mortgaged Property is not the subject of a foreclosure proceeding nor is the related Mortgagor be
the subject of a bankruptcy proceeding. 
 (l) Valid Assignment; Valid Lien. Each Assignment of Mortgage from the Seller constitutes
a legal, valid and binding assignment from the Seller. Each related Mortgage is freely assignable without the consent of the related Mortgagor. The Mortgage is a valid, subsisting, enforceable and perfected first lien and first priority security
interest with respect to each Mortgage Loan which is indicated by Seller to be a first lien (as reflected on the Mortgage Loan Schedule) on the real property included in the Mortgaged Property, including all buildings on the Mortgaged Property and
all installations and mechanical, electrical, plumbing, heating and air conditioning systems located in or annexed to such buildings, and all additions, alterations and replacements made at any time with respect to the. The lien of the Mortgage is
subject only to: 
 (1) the lien of current real property taxes and assessments not yet due and payable; 

  
 Annex II 

 (2) covenants, conditions and restrictions, rights of way, easements and other matters of the
public record as of the date of recording acceptable to prudent mortgage lending institutions generally and specifically referred to in the lender’s title insurance policy delivered to the originator of the Mortgage Loan and (a) referred
to or otherwise considered in the appraisal made for the originator of the Mortgage Loan or (b) which do not adversely affect the appraised value of the related Mortgaged Property set forth in such appraisal; and 

(3) other matters to which like properties are commonly subject which do not materially interfere with the benefits of the security intended
to be provided by the Mortgage or the use, enjoyment, value or marketability of the related Mortgaged Property. 
 Any security agreement,
chattel mortgage or equivalent document related to and delivered in connection with the Mortgage Loan establishes and creates a valid, subsisting and enforceable first lien and first priority security interest with respect to each Mortgage Loan
which is indicated by Seller to be a first lien (as reflected on the Mortgage Loan Schedule), on the property described therein and Seller has full right to pledge and assign the same to Buyer. The Mortgaged Property was not, as of the date of
origination of the Mortgage Loan, subject to a mortgage, deed of trust, deed to secure debt or other security instrument creating a lien subordinate to the lien of the Mortgage. 

(m) Validity of Mortgage Documents. The Note and the Mortgage and any other agreement executed and delivered by a Mortgagor or
guarantor, if applicable, in connection with a Mortgage Loan are genuine, and in full force and effect, and each is the legal, valid and binding obligation of the maker thereof enforceable in accordance with its terms, subject to no right of
rescission, set-off, counterclaim or defense. All parties to the Note, the Mortgage and any other such related agreement had legal capacity to enter into the Mortgage Loan and to execute and deliver the Note, the Mortgage and any such agreement, and
the Note, the Mortgage and any other such related agreement have been duly and properly executed by such related parties. No fraud, error, omission, misrepresentation, negligence or similar occurrence with respect to a Mortgage Loan has taken place
on the part of any Person, including, without limitation, the Mortgagor, any appraiser, any builder or developer, or any other party involved in the origination of the Mortgage Loan. Seller has reviewed all of the documents constituting the
Servicing File and has made such inquiries as it deems necessary to make and confirm the accuracy of the representations set forth herein. The related Note shall not have been extinguished under relevant state law in connection with a judgment of
foreclosure or foreclosure sale or otherwise. 
 (n) Origination and Underwriting; Servicing. The origination of each Mortgage Loan
complied in all material respects with all applicable laws and regulations. At the time of the origination of such Mortgage Loan, the origination, due diligence and underwriting performed by or on behalf of the Seller in connection with each
Mortgage Loan complied in all material respects with the terms, conditions and requirements of the Seller’s origination, due diligence, underwriting procedures, Underwriting Guidelines and standards for similar commercial and multifamily
mortgage loans intended for securitization. The Mortgage Loan has been originated by, and, if applicable, purchased by Seller from, an originator acceptable to Buyer or Agent in their sole discretion. The servicing and collection of each Purchased
Loan was in all material respects legal, proper and prudent, in accordance with customary residential mortgage servicing practices. 
 (o)
Location of Improvements; No Encroachments. All improvements which were considered in determining the Appraised Value of the Mortgaged Property lie wholly within the boundaries and building restriction lines of the Mortgaged Property, and no
improvements on adjoining properties encroach upon the Mortgaged Property. No improvement located on or being part of the Mortgaged Property is in violation of any applicable zoning and building law, ordinance or regulation. 

(p) Custodian. With respect to each Mortgage Loan, the Custodian shall be in possession of each required Mortgage Loan Document for
such Mortgage Loan, other than Mortgage Loan Documents that are released pursuant to the terms of the Custodial Agreement. With respect to each Mortgage Loan 

  
 Annex II 

 
Document that has been released from the possession of the Custodian under the terms of the Custodial Agreement to Seller or its bailee, such Mortgage Loan Document shall be returned to the
Custodian within ten (10) calendar days (or if such tenth (10th) day is not a Business Day, the next succeeding Business Day) of release thereof. With respect to each Mortgage Loan Document that has been released from the possession of the
Custodian under the terms of the Custodial Agreement under any transmittal letter such Mortgage Loan Document shall be returned to the Custodian within the time period stated in such transmittal letter. With respect to each Mortgage Loan Document
that has been released from the possession of the Custodian under the terms of the Custodial Agreement under an attorney bailee letter, such Mortgage Loan Document shall be returned to the Custodian from and after the date such attorney’s
bailee letter is terminated or ceases to be in full force and effect. 
 (q) Occupancy of the Mortgaged Property. As of the Purchase
Date the Mortgaged Property is either vacant or lawfully occupied under applicable law. All inspections, licenses and certificates required to be made or issued with respect to all occupied portions of the Mortgaged Property and, with respect to the
use and occupancy of the same, including but not limited to certificates of occupancy and fire underwriting certificates, have been made or obtained from the appropriate authorities. Seller has not received written notification from any governmental
authority that the Mortgaged Property is in material non-compliance with such laws or regulations, is being used, operated or occupied unlawfully or has failed to have or obtain such inspection, licenses or certificates, as the case may be. Seller
has not received notice of any violation or failure to conform with any such law, ordinance, regulation, standard, license or certificate. Except as otherwise set forth in the Mortgage Loan Schedule, the Mortgagor represented at the time of
origination of the Mortgage Loan that the Mortgagor would occupy the Mortgaged Property as the Mortgagor’s primary residence. 
 (r)
No Condemnation Proceedings. There is no proceeding pending or threatened for the total or partial condemnation of such Mortgaged Property that would have a material adverse effect on the value, use or operation of the Mortgaged Property.

 (s) Escrow Deposits. All escrow deposits and payments required pursuant to each Mortgage Loan (including capital improvements and
environmental remediation reserves), if any, are in the possession, or under the control, of the Seller or its servicer, and there are no deficiencies (subject to any applicable grace or cure periods) in connection therewith. Any and all
requirements under the Mortgage Loan as to completion of any material improvements and as to disbursements of any funds escrowed for such purpose, which requirements were to have been complied with on or before Purchase Date, have been complied with
in all material respects or the funds so escrowed have not been released. No other escrow amounts have been released except in accordance with the terms and conditions of the related Mortgage Loan Documents. 

(t) No Holdbacks. The principal amount of the Mortgage Loan stated on the Mortgage Loan Schedule has been fully disbursed as of the
Purchase Date and there is no requirement for future advances thereunder (except in those cases where the full amount of the Mortgage Loan has been disbursed but a portion thereof is being held in escrow or reserve accounts pending the satisfaction
of certain conditions relating to leasing, repairs or other matters with respect to the related Mortgaged Property), and any requirements or conditions to disbursements of any loan proceeds held in escrow have been satisfied with respect to any
disbursement of any such escrow fund. All costs, fees and expenses incurred in making or closing the Mortgage Loan and the recording of the Mortgage were paid, and the Mortgagor is not entitled to any refund of any amounts paid or due under the Note
or Mortgage. 
 (u) No Exception. Other than as noted by the Custodian to Buyer and Agent, no Exception (as defined in the Custodial
Agreement) exists with respect to the Mortgage Loan that has not been waived by Buyer and Agent. 
 (v) Title Insurance. The Mortgage
Loan is covered by either (i) an attorney’s opinion of title and abstract of title, the form and substance of which is acceptable to prudent mortgage lending institutions making mortgage loans in the area wherein the Mortgaged Property is
located or (ii) an American Land Title Association lender’s title insurance policy or comparable policy acceptable to Fannie Mae or Freddie 

  
 Annex II 

 
Mac and approved for use in the applicable jurisdiction and each such title insurance policy is issued by a title insurer acceptable in the industry and qualified to do business in the
jurisdiction where the Mortgaged Property is located, insuring Seller, its successors and assigns, as to the first priority Lien of the Mortgage in the original principal amount of the Mortgage Loan, subject only to the exceptions contained in
clauses (1), (2), and (3) below of paragraph (I) of this Part I of Schedule 1, and in the case of adjustable rate Mortgage Loans, against any loss by reason of the invalidity or unenforceability of the lien resulting from the provisions of
the Mortgage providing for adjustment to the mortgage interest rate and monthly payment. Where required by state law or regulation, the Mortgagor has been given the opportunity to choose the carrier of the required mortgage title insurance.
Additionally, such lender’s title insurance policy affirmatively insures ingress and egress and against encroachments by or upon the Mortgaged Property or any interest therein. The title policy does not contain any special exceptions (other
than the standard exclusions) for zoning and uses and has been marked to delete the standard survey exception or to replace the standard survey exception with a specific survey reading. Seller, its successors and assigns, are the sole insureds of
such lender’s title insurance policy, and such lender’s title insurance policy is valid and remains in full force and effect and will be in force and effect upon the consummation of the transactions contemplated by this Agreement. No
claims have been made under such lender’s title insurance policy, and no prior holder or servicer of the related Mortgage, including Seller, has done, by act or omission, anything which would impair the coverage of such lender’s title
insurance policy, including, without limitation, no unlawful fee, commission, kickback or other unlawful compensation or value of any kind has been or will be received, retained or realized by any attorney, firm or other Person, and no such unlawful
items have been received, retained or realized by Seller. 
 (w) Ownership. Seller is the sole owner and holder of the Mortgage Loan.
All Mortgage Loans acquired by Seller from third parties (including Affiliates) were acquired in a true and legal sale pursuant to which such third party sold, transferred, conveyed and assigned to Seller all of its right, title and interest in, to
and under such Mortgage Loan and retained no interest in such Mortgage Loan. In connection with such sale, such third party received reasonably equivalent value and fair consideration and, in accordance with GAAP and for federal income tax purposes,
reported the sale of such Mortgage Loan to Seller as a sale of its interests in such Mortgage Loan. The Mortgage Loan is not assigned or pledged, and Seller has good, indefeasible and marketable title thereto, and has full right to transfer, pledge
and assign the Mortgage Loan to Buyer free and clear of any encumbrance, equity, participation interest, lien, pledge, charge, claim or security interest, and has full right and authority subject to no interest or participation of, or agreement
with, any other party, to assign, transfer and pledge each Mortgage Loan pursuant to this Agreement and following the pledge of each Mortgage Loan, Buyer will hold such Mortgage Loan free and clear of any encumbrance, equity, participation interest,
lien, pledge, charge, claim or security interest except any such security interest created pursuant to the terms of this Agreement. 
 (x)
Doing Business. All parties which have had any interest in the Mortgage Loan, whether as Mortgagee, assignee, pledgee or otherwise, are (or, during the period in which they held and disposed of such interest, were) (i) in compliance with
any and all applicable licensing requirements of the laws of the state wherein the Mortgaged Property is located, and (ii) either (A) organized under the laws of such state, (B) qualified to do business in such state, (C) a
federal savings and loan association, a savings bank or a national bank having a principal office in such state or (D) not doing business in such state. 

(y) LTV. As of the date of origination of the Mortgage Loan, the LTV and CLTV (if applicable) are as identified on the Mortgage Loan
Schedule. 
 (z) No Defaults. There is no default, breach, violation or event of acceleration existing under the Mortgage or the Note
and no event has occurred which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event of acceleration, and neither Seller nor its predecessors have waived any
default, breach, violation or event of acceleration. 
 (aa) Origination; Payment Terms. The Mortgage Loan was originated by or in
conjunction with a Mortgagee approved by HUD pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar

  
 Annex II 

 
banking institution which is supervised and examined by a federal or state authority. Monthly payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed
in connection with the Mortgage Loan. The mortgage interest rate is adjusted, with respect to adjustable rate Mortgage Loans, on each interest rate adjustment date to equal the index plus the gross margin (rounded up or down to the nearest .125%),
subject to the mortgage interest rate cap. The Note is payable on the first day of each month in equal monthly installments of principal and interest, which installments of interest, with respect to an adjustable rate Mortgage Loan, are subject to
change due to the adjustments to the mortgage interest rate on each adjustment date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than
30 years from commencement of amortization. No Mortgage Loan allows for negative amortization. No Mortgage Loan is an interest-only Mortgage Loan. 

(bb) Customary Provisions. The Note has a stated maturity. The Mortgage contains customary and enforceable provisions such as to render
the rights and remedies of the holder thereof adequate for the realization against the Mortgaged Property of the benefits of the security provided thereby, including, (i) in the case of a Mortgage designated as a deed of trust, by
trustee’s sale, and (ii) otherwise by judicial foreclosure. Upon default by a Mortgagor on a Mortgage Loan and foreclosure on, or trustee’s sale of, the Mortgaged Property pursuant to the proper procedures, the holder of the Mortgage
Loan will be able to deliver good and merchantable title to the Mortgaged Property. There is no exemption available to a Mortgagor which would interfere with the right to sell the Mortgaged Property at a trustee’s sale or the right to foreclose
the Mortgage. 
 (cc) Licenses and Permits. Each Mortgagor covenants in the Mortgage Loan Documents that it shall keep all material
certifications, permits, licenses and approvals, including certificates of completion and occupancy and permits required for the legal use, occupancy and operation of the Mortgaged Property in full force and effect, and to the Seller’s
knowledge based upon any of a letter from any government authorities, a review of a zoning consultant’s report or other affirmative investigation of local law compliance consistent with the investigation conducted by the Seller for similar
residential mortgage loans intended for securitization, all such material licenses, permits, franchises, certificates of occupancy, consents, and other approvals are in effect. The Mortgage Loan requires the related Mortgagor to be qualified to do
business in the jurisdiction (if and to the extent required by such jurisdiction) in which the related Mortgaged Property is located and for the Mortgagor and the Mortgaged Property to be in compliance in all material respects with all zoning
regulations and building laws. 
 (dd) No Predatory Lending. No predatory, abusive or deceptive lending practices, including but not
limited to, the extension of credit to a Mortgagor without regard for the Mortgagor’s ability to repay the Mortgage Loan and the extension of credit to a Mortgagor which has no tangible net benefit to the Mortgagor, were employed in connection
with the origination of the Mortgage Loan. 
 (ee) [Reserved]. 

(ff) Acceptable Investment. No specific circumstances or conditions exist with respect to the Mortgage, the Mortgaged Property, the
Mortgagor or the Mortgagor’s credit standing that should reasonably be expected to (i) cause the Mortgage Loan to be more likely to become past due in comparison to similar Mortgage Loans, or (ii) adversely affect the value or
marketability of the Mortgage Loan in comparison to similar Mortgage Loans. 
 (gg) HOEPA. No Mortgage Loan is (a) subject to
the provisions of the Homeownership and Equity Protection Act of 1994 as amended (“HOEPA”), (b) a “high cost” mortgage loan, “covered” mortgage loan, “high risk home” mortgage loan, or
“predatory” mortgage loan or any other comparable term, no matter how defined under any federal, state or local law, (C) subject to any comparable federal, state or local statutes or regulations, or any other statute or
regulation providing for heightened regulatory scrutiny or assignee liability to holders of such mortgage loans, or (d) a High Cost Loan or Covered Loan, as applicable (as such terms are defined in the current Standard & Poor’s
LEVELS® Glossary Revised, Appendix E). 

  
 Annex II 

 (hh) Mortgaged Property Undamaged. The Mortgaged Property is undamaged by waste, fire,
earthquake or earth movement, windstorm, flood, tornado or other casualty so as to affect adversely the value of the Mortgaged Property as security for the Mortgage Loan or the use for which the premises were intended and each Mortgaged Property is
in good repair. There have not been any condemnation proceedings with respect to the Mortgaged Property and Seller has no knowledge of any such proceedings. 

(ii) Servicepersons’ Civil Relief Act. The Mortgagor has not notified Seller, and Seller has no knowledge, of any relief requested
or allowed to the Mortgagor under the Servicepersons’ Civil Relief Act. 
 (jj) No Additional Collateral. The Note is not and
has not been secured by any collateral except the lien of the corresponding Mortgage and the security interest of any applicable security agreement or chattel mortgage referred to in clause (j) above. 

(kk) Deeds of Trust. In the event the Mortgage constitutes a deed of trust, a trustee, authorized and duly qualified under applicable
law to serve as such, has been properly designated and currently so serves and is named in the Mortgage, and no fees or expenses are or will become payable by the Custodian, Agent or Buyer to the trustee under the deed of trust, except in connection
with a trustee’s sale after default by the Mortgagor. 
 (ll) Delivery of Mortgage Documents. The Note, the Mortgage, the
Assignment of Mortgage (other than for a MERS Mortgage Loan), the policy of title insurance or a title commitment related to a policy of title insurance, and any other documents required to be delivered under the Custodial Agreement for each
Mortgage Loan have been delivered to the Custodian. Seller or its agent is in possession of a complete, true and materially accurate Mortgage File in compliance with the Custodial Agreement, except for such documents the originals of which have been
delivered to the Custodian. 
 (mm) Transfer of Mortgage Loans. The Assignment of Mortgage is in recordable form and is acceptable
for recording under the laws of the jurisdiction in which the Mortgaged Property is located. 
 (nn) Due-On-Sale. The Mortgage
contains an enforceable provision for the acceleration of the payment of the unpaid principal balance of the Mortgage Loan in the event that the Mortgaged Property is sold or transferred without the prior written consent of the Mortgagee thereunder.

 (oo) Consolidation of Future Advances. Any future advances made to the Mortgagor prior to the origination of the Mortgage Loan
have been or will be consolidated with the outstanding principal amount secured by the Mortgage and evidenced by the Note, and the secured principal amount, as consolidated, bears a single interest rate and single repayment term. The lien of the
Mortgage securing the consolidated principal amount is expressly insured as having first lien priority with respect to each Mortgage Loan, by a title insurance policy, an endorsement to the policy insuring the Mortgagee’s consolidated interest
or by other title evidence acceptable to Fannie Mae and Freddie Mac. The consolidated principal amount does not exceed the original principal amount of the Mortgage Loan. 

(pp) Collection Practices; Escrow Deposits: Interest Rate Adjustments. The origination and collection practices used by the originator,
each servicer of the Mortgage Loan and Seller with respect to the Mortgage Loan have been in all material respects in compliance with Accepted Servicing Practices, applicable laws and regulations, and have been in all respects legal and proper. With
respect to escrow deposits and Escrow Payments, all such payments are in the possession of, or under the control of, Seller and there exist no deficiencies in connection therewith for which customary arrangements for repayment thereof have not been
made. All Escrow Payments have been collected in full compliance with state and federal law. An escrow of funds is not prohibited by applicable law and has been established in an amount sufficient to pay for every item that remains unpaid and has
been assessed but is not yet due and payable. No escrow deposits or Escrow Payments or other charges or payments due Seller have been capitalized under the Mortgage or the Note. All mortgage interest rate adjustments have been made in strict
compliance with state and federal law and the terms of the related Note. Any interest required to be paid pursuant to state, federal and local law has been properly paid and credited. 

  
 Annex II 

 (qq) Conversion to Fixed Interest Rate. With respect to adjustable rate Mortgage Loans,
the Mortgage Loan is not convertible to a fixed interest rate Mortgage Loan. 
 (rr) Appraisal. The Mortgage File contains an
appraisal of the related Mortgaged Property signed prior to the approval of the Mortgage Loan application by a qualified appraiser, duly appointed by Seller or the originator, who had no interest, direct or indirect in the Mortgaged Property or in
any loan made on the security thereof, and whose compensation is not affected by the approval or disapproval of the Mortgage Loan, and the appraisal and appraiser both satisfy the requirements of Fannie Mae or Freddie Mac and Title XI of the Federal
Institutions Reform, Recovery, and Enforcement Act of 1989 as amended and the regulations promulgated thereunder, all as in effect on the date the Mortgage Loan was originated. 

(ss) Construction or Rehabilitation of Mortgaged Property. No Mortgage Loan was made in connection with the construction or
rehabilitation of a Mortgaged Property or facilitating the trade-in or exchange of a Mortgaged Property. 
 (tt) No Defense to Insurance
Coverage. No action has been taken or failed to be taken, no event has occurred and no state of facts exists or has existed on or prior to the Purchase Date (whether or not known to Seller on or prior to such date) which has resulted or will
result in an exclusion from, denial of, or defense to coverage under any private mortgage insurance (including, without limitation, any exclusions, denials or defenses which would limit or reduce the availability of the timely payment of the full
amount of the loss otherwise due thereunder to the insured) whether arising out of actions, representations, errors, omissions, negligence, or fraud of Seller, the related Mortgagor or any party involved in the application for such coverage,
including the appraisal, plans and specifications and other exhibits or documents submitted therewith to the insurer under such insurance policy, or for any other reason under such coverage, but not including the failure of such insurer to pay by
reason of such insurer’s breach of such insurance policy or such insurer’s financial inability to pay. 
 (uu) Capitalization
of Interest. The Note does not by its terms provide for the capitalization or forbearance of interest. 
 (vv) No Equity
Participation. No Mortgage Loan has a shared appreciation feature, any other contingent interest feature or a negative amortization feature or an equity participation by Seller. 

(ww) Mortgage Submitted for Recordation. The Mortgage (other than for a MERS Mortgage Loan) has been submitted for recordation in the
appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located. 
 (xx) Disclosure Materials.
The Mortgagor has executed a statement to the effect that the Mortgagor has received all disclosure materials required by applicable law with respect to the making of adjustable rate mortgage loans, and Seller maintains such statement in the
Mortgage File. 
 (yy) Conformance with Underwriting Guidelines and Agency Standards. The Mortgage Loan was underwritten in
accordance with the Underwriting Guidelines. The Note and Mortgage are on forms similar to those used by Freddie Mac or Fannie Mae and Seller has not made any representations to a Mortgagor that are inconsistent with the mortgage instruments used.

 (zz) No Buydown Provisions; No Graduated Payments or Contingent Interests. The Mortgage Loan does not contain provisions pursuant
to which monthly payments on the Mortgage Loan are paid or partially paid with funds deposited in any separate account established by Seller, the Mortgagor, or anyone on behalf of the Mortgagor, or paid by any source other than the Mortgagor nor
does it contain any other similar provisions which may constitute a “buydown” provision. The Mortgage Loan is not a graduated payment mortgage loan and the Mortgage Loan does not have a shared appreciation or other contingent interest
feature. 
 (aaa) [Reserved]. 

  
 Annex II 

 (bbb) Ground Leases. For purposes of this paragraph, a “ground lease” shall mean
a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, to the ground lessee (who may, in certain circumstances,
own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Mortgage on a ground leasehold estate in whole or in
part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the ground lease and any estoppel or other agreement received from the ground lessor in favor of Seller,
its successors and assigns, Seller represents and warrants that: 
  

	 	a.	The ground lease or a memorandum regarding such ground lease has been duly recorded or submitted for recordation in a form that is acceptable for recording in the applicable jurisdiction. The ground lease or an estoppel
or other agreement received from the ground lessor permits the interest of the lessee to be encumbered by the related Mortgage and does not restrict the use of the related Mortgaged Property by such lessee, its successors or assigns in a manner that
would materially and adversely affect the security provided by the related Mortgage. No material change in the terms of the ground lease had occurred since its recordation, except by any written instruments which are included in the related Mortgage
Loan File; 

  

	 	b.	The lessor under such ground lease has agreed in a writing included in the related Mortgage Loan File (or in such ground lease) that the ground lease may not be amended, modified, canceled or terminated without the
prior written consent of Buyer, Agent and lender (unless in connection with an amendment to correct typographical errors or are otherwise de-minis in nature) and that any such action without such consent is not binding on Buyer, Agent or lender, its
successors or assigns; 

  

	 	c.	The ground lease has an original term (or an original term plus one or more optional renewal terms, which, under all circumstances, may be exercised, and will be enforceable, by either borrower or the Mortgagee) that
extends not less than 20 years beyond the stated maturity of the related Mortgage Loan, or 10 years past the stated maturity if such Mortgage Loan fully amortizes by the stated maturity (or with respect to a Mortgage Loan that accrues on an actual
360 basis, substantially amortizes); 

  

	 	d.	The ground lease is not subject to any interests, estates, liens or encumbrances superior to, or of equal priority with, the Mortgage, except for the related fee interest of the ground lessor and the Permitted Liens;

  

	 	e.	The ground lease does not place commercially unreasonable restrictions on the identity of the Mortgagee and the ground lease is assignable to the holder of the Mortgage Loan and its successors and assigns without the
consent of the lessor thereunder (provided that proper notice is delivered (if required) in accordance with such ground lease), and in the event it is so assigned, it is further assignable by the holder of the Mortgage Loan and its successors and
assigns without the consent of (but with prior notice to) the lessor; 

  

	 	f.	The Seller has not received any written notice of default under or notice of termination of such ground lease. To the Seller’s knowledge, there is no default under such ground lease and no condition that, but for
the passage of time or giving of notice, would result in a default under the terms of such ground lease and to the Seller’s knowledge, such ground lease is in full force and effect; 

 

	 	g.	The ground lease or ancillary agreement between the lessor and the lessee requires the lessor to give to Buyer, Agent and lender written notice of any material default, provides that no notice of default of termination
is effective unless such notice is given to Buyer, Agent and lender; 

  
 Annex II 

	 	h.	Buyer or lender is permitted a reasonable opportunity (including, where necessary, sufficient time to gain possession of the interest of the lessee under the ground lease through legal proceedings) to cure any default
under the ground lease which is curable after Buyer’s, Agent’s and lender’s receipt of notice of any default before the lessor may terminate the ground lease; 

 

	 	i.	The ground lease does not impose any restrictions on subletting that would be viewed as commercially unreasonable by a prudent residential mortgage lender; 

 

	 	j.	Under the terms of the ground lease, an estoppel or other agreement received from the ground lessor and the related Mortgage (taken together), any related insurance proceeds or the portion of the condemnation award
allocable to the ground lessee’s interest (other than in respect of a total or substantially total loss or taking as addressed in clause (k) below) will be applied either to the repair or to restoration of all or part of the related
Mortgaged Property with (so long as such proceeds are in excess of the threshold amount specified in the related Mortgage Loan Documents) Buyer, lender or a trustee duly appointed having the right to hold and disburse such proceeds if in excess of
10% of the principal amount of the related Mortgage Loans as repair or restoration progresses, or to the payment of the outstanding principal balance of the Mortgage Loan, together with any accrued interest; 

 

	 	k.	Under the terms of the ground lease and the related Mortgage (taken together), any related insurance proceeds, or portion of the condemnation award allocable to ground lessee’s interest in respect of a total or
substantially total loss or taking of all or substantially all of the related Mortgaged Property to the extent not applied to restoration, will be applied first to the payment of the outstanding principal balance of the Mortgage Loan, together with
any accrued interest; and 

  

	 	I.	Provided that Buyer or lender cures any defaults which are susceptible to being cured, the ground lessor has agreed to enter into a new lease with agent or lender upon termination of the ground lease for any reason,
including rejection of the ground lease in a bankruptcy proceeding. 

 (ccc) Other Insurance Policies. No action,
inaction or event has occurred and no state of facts exists or has existed that has resulted or will result in the exclusion from, denial of, or defense to coverage under any applicable special hazard insurance policy, PMI Policy or bankruptcy bond,
irrespective of the cause of such failure of coverage. In connection with the placement of any such insurance, no commission, fee, or other compensation has been or will be received by Seller or by any officer, director, or employee of Seller or any
designee of Seller or any corporation in which Seller or any officer, director, or employee had a financial interest at the time of placement of such insurance. 

(ddd) Environmental Matters. The Mortgaged Property is free from any and all toxic or hazardous substances and there exists no
violation of any local, state or federal environmental law, rule or regulation. 
 (eee) Withdrawn Loans. If the Mortgage Loan has
been released to Seller pursuant to terms of the Custodial Agreement, then the promissory note relating to the Mortgage Loan was returned to the Custodian within ten (10) days (or if such tenth (10th) day was not a Business Day, the next
succeeding Business Day). 
 (fff) MERS Mortgage Loan. With respect to each MERS Mortgage Loan, a MERS Identification Number has been
assigned by MERS and such MERS Identification Number is accurately provided on the Mortgage Loan Schedule. The related Assignment of Mortgage to MERS has been duly and properly recorded. With respect to each MERS Mortgage Loan, Seller has not
received any notice of liens or legal actions with respect to such Mortgage Loan and no such notices have been electronically posted by MERS. 

  
 Annex II 

 (ggg) Qualified Mortgage. Each Mortgage Loan satisfies the following criteria: 

 

	 	(i)	Such Mortgage Loan is a Qualified Mortgage; 

  

	 	(ii)	Such Mortgage Loan is accurately identified in writing to Buyer as either a Safe Harbor Qualified Mortgage or a Rebuttable Presumption Qualified Mortgage; 

 

	 	(iii)	Prior to the origination of such Mortgage Loan, the related originator made a reasonable and good faith determination that the related Mortgagor would have a reasonable ability to repay such Mortgage Loan according to
its terms, in accordance with, at a minimum, the eight underwriting factors set forth in 12 CFR 1026.43(c)(2); and 

  

	 	(iv)	Such Mortgage Loan is supported by documentation that evidences compliance with the Ability to Repay Rule and the QM Rule. 

(hhh) Ability to Repay Determination. There is no action, suit or proceeding instituted by or against or, to the Seller’s
knowledge, threatened against Seller in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any Mortgage Loan (or the related
underwriting) with the Ability to Repay Rule or the QM Rule. 
 (iii) Points and Fees. All points and fees related to the Mortgage
Loan were disclosed in writing to the Mortgagor in accordance with applicable state and federal law and regulation. The points and fees related to such Mortgage Loan did not exceed 3% of the total loan amount (or such other applicable limits for
lower balance Mortgages) as specified under 12 CFR 1026.43(e)(3), and the points and fees were calculated using the calculation required for qualified mortgages under 12 CFR 1026.32(b) to determine compliance with applicable requirements. 

  
 Annex II 

 Schedule 2 to Annex I 

Required Mortgage Loan Documents 
 With
respect to each Purchased Mortgage Loan, the following documents shall be delivered to Buyer or its designee (including Agent or Custodian), as applicable: 

(A) The original Note bearing all intervening endorsements, endorsed “Pay to the order of
                     without recourse” and signed in the name of the last endorsee (the “Last Endorsee”) by an authorized Person of
the Last Endorsee (in the event that the Mortgage Loan was acquired by the Last Endorsee in a merger, the signature must be in the following form: “[Last Endorsee], successor by merger to [name of predecessor]”; in the event that the
Mortgage Loan was acquired or originated by the Last Endorsee while doing business under another name, the signature must be in the following form: “[Last Endorsee], [formerly known] or [doing business] as [previous name]”) or a lost note
affidavit in a form reasonably approved by Buyer and Agent, with a copy of the applicable Note attached thereto. 
 (B) An original or a
copy of the loan agreement and the guarantee, if any, executed in connection with the Mortgage Loan. 
 (C) An original Mortgage with
evidence of recording thereon, or a copy thereof together with an officer’s certificate of Seller certifying that such copy represents a true and correct copy of the original and that such original has been submitted for recordation in the
appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located. 
 (D) The originals of all
assumption, modification, consolidation or extension agreements with evidence of recording thereon, or copies thereof together with an officer’s certificate of Seller certifying that such copies represent true and correct copies of the
originals and that such originals have each been submitted for recordation in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located. 

(E) The original Assignment of Mortgage in blank for each Mortgage Loan, in form and substance acceptable for recording and signed in the name
of the Last Endorsee (in the event that the Mortgage Loan was acquired by the Last Endorsee in a merger, the signature must be in the following form: “[Last Endorsee], successor by merger to [name of predecessor]”; in the event that the
Mortgage Loan was acquired or originated while doing business under another name, the signature must be in the following form: “[Last Endorsee], [formerly known] or [doing business] as [previous name]”). 

(F) The originals of all intervening assignments of mortgage (if any) with evidence of recording thereon, or copies thereof. 

(G) The original title policy or, if the original title policy has not been issued, a copy of the marked commitment to issue the same. 

(H) An original or copy of any security agreement, chattel mortgage or equivalent document executed in connection with the Mortgage Loan. 

(I) A copy of a survey of the Mortgaged Property (if any) as accepted by the title company for issuance of the title policy. 

(J) A copy of the Mortgagor’s opinions of counsel. 

(K) All additional original documents evidencing any assumption, modification, consolidation or extension of such Mortgage Loan approved in
accordance with the terms of this Agreement, and upon receipt of any such other documents 

  
 Annex II 

 Schedule 3 to Annex I 

Seller’s Material Subsidiaries 

None. 

  
 Sched. 3 - 1 

 Schedule 10(b) to Annex I 

Schedule of Litigation 
 None.

  
 Sched. 10(b) - 1

 Annex II 

Names and Addresses for Communications Between Parties 

If to Buyer: 
 BMO Harris Bank N.A. 

111 West Monroe Street, 20th Floor 

Chicago, Illinois 60603 
 Attention: Financial Institutions Group

 Telephone: (312) 461-3009 
 Email:
Catherine.crossley@bmo.com 
 If to Agent: 
 Jefferies
Funding LLC 
 c/o Jefferies & Company, Inc. 
 520
Madison Avenue, New York 10022 
 Attention: Michael Pillari 

Telephone: 203-363-8237 
 With a copy to: 

Jefferies Funding LLC 
 c/o Jefferies & Company, Inc.

 520 Madison Avenue, New York 10022 
 Attention: General
Counsel 
 Facsimile: (646) 786-5691 
 If to Seller:

 loanDepot.com, LLC 
 26642 Towne Centre Drive 

Foothill Ranch, California 92610 
 Attention: Jon Frojen, Chief
Financial Officer 
 Email: jfrojen@loandepot.com 

  
 Annex II - 1EX-10.46

 Exhibit 10.46 
  

 
  

MASTER REPURCHASE AGREEMENT 

Between: 
 UBS BANK USA, as
Buyer 
 and 

LOANDEPOT.COM, LLC, as Seller 

Dated as of June 1, 2015 
  

 
  

 TABLE OF CONTENTS 
  

							
	 	  	 	  	Page	 
			
	SECTION 1.	  	APPLICABILITY	  	 	1	  
			
	SECTION 2.	  	DEFINITIONS	  	 	1	  
			
	SECTION 3.	  	INITIATION; TERMINATION	  	 	22	  
			
	SECTION 4.	  	MARGIN AMOUNT MAINTENANCE	  	 	27	  
			
	SECTION 5.	  	COLLECTIONS; INCOME PAYMENTS	  	 	28	  
			
	SECTION 6.	  	REQUIREMENT OF LAW	  	 	29	  
			
	SECTION 7.	  	TAXES	  	 	30	  
			
	SECTION 8.	  	SECURITY INTEREST; BUYER’S APPOINTMENT AS ATTORNEY-IN-FACT	  	 	33	  
			
	SECTION 9.	  	PAYMENT, TRANSFER; ACCOUNTS	  	 	35	  
			
	SECTION 10.	  	REPRESENTATIONS	  	 	37	  
			
	SECTION 11.	  	COVENANTS	  	 	43	  
			
	SECTION 12.	  	EVENTS OF DEFAULT	  	 	49	  
			
	SECTION 13.	  	REMEDIES	  	 	52	  
			
	SECTION 14.	  	INDEMNIFICATION AND EXPENSES; RECOURSE	  	 	54	  
			
	SECTION 15.	  	SERVICING	  	 	55	  
			
	SECTION 16.	  	DUE DILIGENCE	  	 	57	  
			
	SECTION 17.	  	ASSIGNABILITY	  	 	58	  
			
	SECTION 18.	  	TRANSFER AND MAINTENANCE OF REGISTER	  	 	59	  

  
 i 

					
			
	SECTION 19.	  	HYPOTHECATION OR PLEDGE OF PURCHASED ASSETS	  	59
			
	SECTION 20.	  	TAX TREATMENT	  	59
			
	SECTION 21.	  	SET-OFF	  	59
			
	SECTION 22.	  	TERMINABILITY	  	60
			
	SECTION 23.	  	NOTICES AND OTHER COMMUNICATIONS	  	60
			
	SECTION 24.	  	USE OF THE WAREHOUSE ELECTRONIC SYSTEM AND OTHER ELECTRONIC MEDIA	  	61
			
	SECTION 25.	  	ENTIRE AGREEMENT; SEVERABILITY; SINGLE AGREEMENT	  	63
			
	SECTION 26.	  	GOVERNING LAW	  	63
			
	SECTION 27.	  	SUBMISSION TO JURISDICTION; WAIVERS	  	64
			
	SECTION 28.	  	NO WAIVERS, ETC	  	65
			
	SECTION 29.	  	NETTING	  	65
			
	SECTION 30.	  	CONFIDENTIALITY	  	65
			
	SECTION 31.	  	INTENT	  	66
			
	SECTION 32.	  	DISCLOSURE RELATING TO CERTAIN FEDERAL PROTECTIONS	  	67
			
	SECTION 33.	  	CONFLICTS	  	67
			
	SECTION 34.	  	MISCELLANEOUS	  	67
			
	SECTION 35.	  	GENERAL INTERPRETIVE PRINCIPLES	  	68

  
 ii 

 SCHEDULES AND EXHIBITS 
  

			
	SCHEDULE 1	  	Representations and Warranties
		
	SCHEDULE 2	  	Responsible Officers
		
	SCHEDULE 3	  	Scheduled Indebtedness
		
	EXHIBIT A	  	Required Opinions
		
	EXHIBIT B	  	Form of Seller Party’s Officer’s Certificate
		
	EXHIBIT C	  	Form of Servicer Notice
		
	EXHIBIT D	  	Form of Trade Assignment
		
	EXHIBIT E	  	Form of Power of Attorney
		
	EXHIBIT F	  	Form of Tax Compliance Certificate
		
	EXHIBIT G	  	Form of Temporary Increase Request

  
 iii 

 MASTER REPURCHASE AGREEMENT 

This is a MASTER REPURCHASE AGREEMENT (the “Agreement”), dated as of June 1, 2015, between LOANDEPOT.COM, LLC, a
Delaware limited liability company (the “Seller”) and UBS BANK USA, a Utah corporation (the “Buyer”). 
  

	SECTION 1.	APPLICABILITY 

 From time to time the parties hereto may enter into transactions in which
Seller agrees to transfer to Buyer Mortgage Loans on a servicing released basis against the transfer of funds by Buyer, with a simultaneous agreement by Buyer to transfer to Seller such Mortgage Loans on a servicing released basis or Agency
Securities backed by such Mortgage Loans on the Repurchase Date, against the transfer of funds by Seller. Each such transaction shall be referred to herein as a “Transaction” and shall be governed by this Agreement (including any
supplemental terms or conditions contained in any annexes identified herein, as applicable hereunder), unless otherwise agreed in writing. This Agreement is not a commitment by Buyer to enter into Transactions with Seller but rather sets forth the
procedures to be used in connection with periodic requests for Buyer to enter into Transactions with Seller. Seller hereby acknowledges that Buyer is under no obligation to agree to enter into, or to enter into, any Transaction pursuant to this
Agreement. Any commitment to enter into Transactions shall be set forth in the Pricing Letter, and shall be subject to satisfaction of all terms and conditions of this Agreement. 

The Pricing Letter is one of the Program Documents as defined below. The Pricing Letter is incorporated by reference into this Agreement and
each Seller Party agrees to adhere to all terms, conditions and requirements of the Pricing Letter as incorporated herein. In the event of a conflict or inconsistency between this Agreement and the Pricing Letter, the terms of the Pricing Letter
shall govern. 
  

	SECTION 2.	DEFINITIONS 

 As used herein, the defined terms set forth below shall have the meanings
set forth herein. Additionally, as used herein, the following terms shall have the meanings defined in the Uniform Commercial Code: accounts, chattel paper (including electronic chattel paper), goods (including inventory and equipment and any
accessions thereto), instruments (including promissory notes), documents, investment property, general intangibles (including payment intangibles and software), and supporting obligations, products and proceeds. 

“1934 Act” shall have the meaning set forth in Section 32 of the Agreement. 

“Ability to Repay Rule” shall mean 12 CFR 1026.43(c), including all applicable official staff commentary. 

“Accepted Servicing Practices” shall mean, with respect to any Mortgage Loan, those mortgage servicing practices of prudent
mortgage lending institutions which service mortgage loans of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located. 

  
 1 

 “Affiliate” shall mean with respect to any Person, any “affiliate” of
such Person, as such term is defined in the Bankruptcy Code. 
 “Agency” shall mean Freddie Mac, Fannie Mae or Ginnie Mae,
as applicable. 
 “Agency Approval” shall have the meaning set forth in Section 11(w) of the Agreement. 

“Agency Security” shall mean a security issued in exchange for Purchased Mortgage Loans and backed by such Purchased Mortgage
Loans that is (a) guaranteed by Ginnie Mae or (b) issued by Fannie Mae or Freddie Mac. 
 “Agency Security Issuance
Failure” shall mean the failure of an Agency to cause the Delivery of an Agency Security in accordance with a Takeout Commitment. 

“Aging Limit” shall have the meaning specified in the Pricing Letter. 

“Agreement” shall mean this Master Repurchase Agreement between Buyer and each Seller Party, dated as of the date hereof, as
the same may be further amended, supplemented or otherwise modified in accordance with the terms of this Agreement. 

“ALTA” shall mean American Land Title Association, or any successor thereto. 

“Annual Financial Statement Date” shall have the meaning set forth in the Pricing Letter. 

“Anti-Money Laundering Laws” shall have the meaning set forth in Section 10(x) of the Agreement. 

“Application” shall mean the application delivered by Seller to Buyer in connection with Buyer’s approval of Seller for
the program evidenced by the Agreement and any renewal thereof. 
 “Appraisal” shall mean an appraisal meeting the
requirements of the representations and warranties set forth in paragraph (oo) on Schedule 1 hereto. 
 “Appraised
Value” shall mean the value set forth in an Appraisal made in connection with the origination of the related Mortgage Loan as the value of the Mortgaged Property. 

“Appropriate Federal Banking Agency” shall have the meaning ascribed to it by Section 1813(q) of Title 12 of the United
States Code, as amended from time to time. 
 “Approved CPA” shall mean a certified public accountant approved by Buyer in
writing in its sole discretion. 

  
 2 

 “Approved Investor” shall mean any institution which has made a Takeout
Commitment and has been approved by Buyer and not subsequently disapproved by Buyer. 
 “Approved Mortgage Product” shall
mean each Mortgage Product approved by Buyer as identified in the Pricing Letter. Notwithstanding any reference to a Mortgage Product herein, such Mortgage Product shall not be an Approved Mortgage Product unless expressly identified as such in the
Pricing Letter. 
 “Approved Underwriting Guidelines” shall mean the underwriting guidelines approved by Buyer in its sole
good faith discretion. 
 “Asset Value” shall, with respect to each Eligible Mortgage Loan or Agency Security, as of any
date of determination, have the meaning specified under the heading “Asset Value” on Schedule 1 to the Pricing Letter subject to modification pursuant to the terms below. Where a Purchased Asset may qualify for two or more Asset
Values hereunder, unless otherwise expressly agreed to by the Buyer in writing, such Purchased Asset shall be assigned the lower Asset Value. Without limiting the generality of the foregoing, Seller acknowledges that: 

(a) the Asset Value of a Purchased Asset may be reduced to zero by Buyer if: 

(i) such Purchased Asset is a Purchased Mortgage Loan that ceases to be an Eligible Mortgage Loan; 

(ii) such Mortgage Note related to a Purchased Asset that is a Purchased Mortgage Loan has been released from the possession of
Buyer (other than to an Approved Investor pursuant to a Bailee Letter) for a period in excess of ten (10) calendar days; 

(iii) such Purchased Asset is a Purchased Mortgage Loan that has been released from the possession of Buyer to an Approved
Investor pursuant to a Bailee Letter for a period in excess of twenty (20) calendar days; 
 (iv) such Purchased Asset
is a Purchased Mortgage Loan that is a Wet Loan for which the related Mortgage File has not been received by Buyer on or prior to the end of the Aging Limit for such Wet Loan; or 

(v) such Purchased Asset is rejected by the related Approved Investor or there shall occur a Takeout Failure; 

(vi) such Purchased Asset that is a Purchased Mortgage Loan is not properly registered on the MERS® System in accordance with the Electronic Tracking Agreement within (x) with respect to Purchased Mortgage Loans other than Correspondent Mortgage Loans, five (5) Business Days of the
related Purchase Date and (y) with respect to Purchased Mortgage Loans that are Correspondent Mortgage Loans, fifteen (15) Business Days of the related Purchase Date; 

  
 3 

 (vii) such Purchased Asset is a Purchased Mortgage Loan that is a Delinquent
Mortgage Loan; 
 (viii) such Purchased Asset has been subject to Transactions hereunder for a period of greater than its
applicable Aging Limit; 
 (ix) such Purchased Asset is a Purchased Mortgage Loan that Buyer has determined in its sole good
faith discretion is not eligible for whole loan sale or securitization in a transaction consistent with the prevailing sale and securitization industry with respect to substantially similar Mortgage Loans; or 

(x) such Purchased Asset contains a breach of a representation warranty made by Seller in this Agreement; and 

(b) the aggregate Asset Value of each Approved Mortgage Product shall not exceed the Concentration Limit for such applicable
Approved Mortgage Product. If the aggregate Asset Value for any Approved Mortgage Product exceeds the applicable Concentration Limit, Buyer may, in its sole discretion, reduce the value of any related Purchased Assets selected by Buyer to zero until
the aggregate Asset Value for such Approved Mortgage Product is less than or equal to the applicable Concentration Limit. 

“Assignment and Acceptance” shall have the meaning set forth in Section 17 of the Agreement. 

“Assignment of Mortgage” shall mean an assignment of the Mortgage, notice of transfer or equivalent instrument in recordable
form, sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect the sale of the Mortgage. 

“Assignment of Proprietary Lease” shall mean the specific agreement creating a first lien on and pledge of the Co-op Shares
and the appurtenant Proprietary Lease securing a Co-op Loan. 
 “Bailee Letter” shall have the meaning assigned to such
term in the Custodial Agreement. 
 “Bankruptcy Code” shall mean the United States Bankruptcy Code of 1978, as amended from
time to time. 
 “Beneficial Tax Owners” shall have the meaning set forth in Section 7(e)(v) of the Agreement. 

“Business Day” shall mean a day other than (a) a Saturday or Sunday or (b) any day on which banking institutions
are authorized or required by law, executive order or governmental decree to be closed in the State of New York or the State of California. 

“Buydown Amount” shall mean amounts held in the Operating Account to the extent not applied to Obligations under this
Agreement. 

  
 4 

 “Buyer” shall mean UBS Bank USA, its successors in interest and assigns pursuant
to Section 17 and, with respect to Section 7, its participants. 
 “Capitalized Mortgage Servicing Rights” shall
have the meaning specified in the Pricing Letter. 
 “Change in Control” shall mean: 

(a) any transaction or event as a result of which (i) Parthenon Capital Partners ceases to own, directly or indirectly 50%
of the membership interests of Seller or (ii) Anthony Hsieh ceases to own, directly or indirectly, 5% of the membership interests of Seller; or 

(b) the sale, transfer, or other disposition of all or substantially all of any Seller Party’s assets (excluding any such
action 
 taken in connection with any securitization transaction); or 

(c) the consummation of a merger or consolidation of a Seller Party with or into another entity or any other corporate
reorganization (in one transaction or in a series of transactions), if more than 50% of the combined voting power of the continuing or surviving entity’s stock outstanding immediately after such merger, consolidation or such other
reorganization is owned by persons who were not stockholders of Seller Party immediately prior to such merger, consolidation or other reorganization; or 

(d) Mr. Anthony Hsieh shall (i) no longer be employed by Seller or (ii) shall no longer be involved in the day
to day operations of Seller; or 
 (e) there is a change in the majority of the board of directors of Seller during any
twelve month period. 
 “Closing Protection Letter” shall mean a letter of indemnification from a title insurer addressed
to Seller and/or Buyer or for which Buyer is a third party beneficiary, with coverage that is customarily acceptable to Persons engaged in the origination of mortgage loans, identifying the Settlement Agent covered thereby and indemnifying Seller
and/or Buyer (directly or as a third party beneficiary) against losses incurred due to malfeasance or fraud by the Settlement Agent or the failure of the Settlement Agent to follow the specific escrow instructions specified by Seller to the
Settlement Agent or otherwise by Buyer with respect to the closing of the Mortgage Loan. The Closing Protection Letter shall be either with respect to the individual Mortgage Loan being purchased pursuant hereto or a blanket Closing Protection
Letter which covers closings conducted by the Settlement Agent in the jurisdiction in which the closing of such Mortgage Loan takes place. 

“CLTA” shall mean California Land Title Association, or any successor thereto. 

“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 

“Concentration Limit” shall have the meaning specified in the Pricing Letter. 

  
 5 

 “Confidential Information” shall have the meaning set forth in
Section 11(u) of the Agreement. 
 “Confidential Terms” shall have the meaning set forth in Section 30 of the
Agreement. 
 “Confirmation” shall mean an electronic confirmation of a Transaction delivered by Buyer to Seller in
accordance with Section 3(c)(v) hereof. 
 “Conforming Mortgage Loan” shall mean a Mortgage Loan, which is secured by
a first lien, such Mortgage Loan (a) conforms to the requirements of an Agency for securitization or cash purchase and has (i) a minimum FICO score of 660, (ii) a DTI not more than 45% and (iii) a LTV not greater than 100% or
(b) is eligible to be insured by FHA, guaranteed by VA or guaranteed by RD (excluding any Mortgage Loan which exceeds Agency guidelines for maximum general conventional loan amount) and (i) has a minimum FICO score of 640; (ii) has a
DTI not more than 50% and (iii) has a LTV not greater than 100%. 
 “Co-op Corporation” shall mean, with respect to
any Co-op Loan, the cooperative apartment corporation that holds legal title to the related Co-op Project and grants occupancy rights to units therein to stockholders through Proprietary Leases or similar arrangements. 

“Co-op Loan” shall mean a Mortgage Loan secured by the pledge of stock allocated to a Co-op Unit in a Co-op Corporation and
collateral assignment of the related Proprietary Lease. 
 “Co-op Project” shall mean, with respect to any Co-op Loan, all
real property and improvements thereto and rights therein and thereto owned by a Co-op Corporation including without limitation the land, separate dwelling units and all common elements. 

“Co-op Shares” shall mean, with respect to any Co-op Loan, the shares of stock issued by a Co-op Corporation and allocated to
a Co-op Unit and represented by a Stock Certificate. 
 “Co-op Unit” shall mean, with respect to any Co-op Loan, a specific
unit in a Co-op Project. 
 “Correspondent Mortgage Loan” shall mean a Mortgage Loan originated by a third party originator
and acquired by Seller in accordance with Seller’s correspondent Mortgage Loan program. 
 “Costs” shall have the
meaning set forth in Section 14(a) of the Agreement. 
 “Credit File” shall mean with respect to each Mortgage Loan,
the documents and instruments relating to the origination and administration of such Mortgage Loan. 
 “Custodial Account”
shall have the meaning set forth in Section 5(b) of the Agreement. 

  
 6 

 “Custodial Agreement” shall mean that certain Custodial Agreement dated as of
the date hereof, among Seller, Buyer and Custodian as the same may be amended from time to time. 
 “Custodial Loan
Transmission” shall have the meaning set forth in the Custodial Agreement. 
 “Custodian” shall mean Deutsche Bank
National Trust Company, or any successor thereto under the Custodial Agreement. 
 “DE Compare Ratio” shall mean the Two
Year FHA Direct Endorsement Lender 
 Compare Ratio, excluding streamline FHA refinancings, as made publicly available by HUD. 

“Default” shall mean an Event of Default or an event that with notice or lapse of time or both would become an Event of
Default. 
 “Defaulting Party” shall have the meaning set forth in Section 29 of the Agreement. 

“Defective Mortgage Loan” shall mean a Mortgage Loan (a) which is in foreclosure, has been foreclosed upon or has been
converted to real estate owned property, (b) for which the Mortgagor is in bankruptcy, (c) that is not subject to a valid and binding Takeout Commitment, (d) that is subject to a Takeout Commitment with respect to which Seller or
Approved Investor is in default, (e) that is rejected or excluded for any reason from the related Takeout Commitment by the Approved Investor, (f) that is not purchased by the Approved Investor in compliance with the Takeout Commitment at
or prior to the expiration or termination of the Takeout Commitment for any reason, or (g) that is not repurchased by Seller in compliance with the provisions of Section 3(e). 

“Delinquent Mortgage Loan” shall mean any Mortgage Loan as to which any Monthly Payment, or part thereof, remains unpaid for
thirty (30) days or more following the original Due Date for such Monthly Payment. 
 “Delivery” shall mean
(a) with respect to any Agency Security issued by Ginnie Mae, when Buyer is registered as the registered owner of such Agency Security on Ginnie Mae’s central registry and (b) with respect to any Agency Security issued by Fannie Mae
or Freddie Mac, the later to occur of (i) the issuance of such Agency Security and (ii) the transfer of all of the right, title and ownership interest in such Agency Security to Buyer or its designee. An Agency Security shall be deemed to
be “Delivered” upon Delivery in accordance herewith. 
 “Depository” shall have the meaning set forth in
Section 9(d) of the Agreement. 
 “Dollars” and “$” shall mean lawful money of the United States of
America. 
 “DTI” shall mean with respect to any Mortgagor, the ratio of the Mortgagor’s average monthly debt
obligations to the Mortgagor’s average monthly gross income. 

  
 7 

 “Due Date” shall mean the day of the month on which the Monthly Payment is due
on a Mortgage Loan, exclusive of any days of grace. 
 “E-Sign” shall mean the federal Electronic Signatures in Global and
National Commerce Act, as amended from time to time. 
 “Effective Date” shall mean the date upon which the conditions
precedent set forth in Section 3(a) shall have been satisfied. 
 “Electronic Record” shall mean “Record”
and “Electronic Record,” both as defined in E-Sign, and shall include but not be limited to, recorded telephone conversations, fax copies or electronic transmissions, including without limitation, those involving the Warehouse Electronic
System. 
 “Electronic Signature” shall have the meaning set forth in E-Sign. 

“Electronic Tracking Agreement” shall mean an Electronic Tracking Agreement among Buyer, Seller, MERS and MERSCORP Holdings,
Inc., as the same may be amended from time to time. 
 “Electronic Transactions” shall mean transactions conducted using
Electronic Records and/or Electronic Signatures or fax copies of signatures. 
 “Eligible Mortgage Loan” shall mean a
Purchased Asset that is a Purchased Mortgage Loan which (a) is an Approved Mortgage Product (unless otherwise approved by Buyer), (b) complies with the representations and warranties set forth on Schedule 1 hereto (assuming that
they are made as of each date of determination) (unless otherwise approved by Buyer), (c) is not a Defective Mortgage Loan and (d) is not a Delinquent Mortgage Loan. 

“ERISA” shall, with respect to any Person, mean the Employee Retirement Income Security Act of 1974, as amended from time to
time and any successor thereto, and the regulations promulgated and administrative rulings issued thereunder. 
 “ERISA
Affiliate” shall, with respect to any Person, mean any Person which is treated as a single employer under Section 414(b) or (c) of the Code, or solely for purposes of Section 302 of ERISA and Section 412 of the Code is
treated as a single employer described in Section 414 of the Code. 
 “Escrow Payments” shall mean, with respect to
any Mortgage Loan, the amounts constituting ground rents, taxes, assessments, water rates, sewer rents, municipal charges, mortgage insurance premiums, fire and hazard insurance premiums, condominium charges, and any other payments required to be
escrowed by the Mortgagor with the mortgagee pursuant to the Mortgage or any other document. 
 “Event of Default” shall
have the meaning set forth in Section 12 of the Agreement. 

  
 8 

 “Excess Proceeds” shall have the meaning set forth in Section 3(e) of the
Agreement. 
 “Excluded Taxes” shall have the meaning set forth in Section 7(e) of the Agreement. 

“Expenses” shall mean all present and future expenses incurred by or on behalf of Buyer in connection with this Agreement or
any of the other Program Documents and any amendment, supplement or other modification or waiver related hereto or thereto, whether incurred heretofore or hereafter, which expenses shall include the cost of title, lien, judgment and other record
searches; attorneys’ fees; and costs of preparing and recording any UCC financing statements or other filings necessary to perfect the security interest created hereby. 

“Facility Termination Threshold” shall have the meaning specified in the Pricing Letter. 

“Fannie Mae” shall mean the Federal National Mortgage Association, or any successor thereto. 

“FATCA” shall have the meaning set forth in Section 7(a) of the Agreement. 

“FDIA” shall have the meaning set forth in Section 31(d) of the Agreement. 

“FDICIA” shall have the meaning set forth in Section 31(e) of the Agreement. 

“FHA” shall mean the Federal Housing Administration, an agency within the United States Department of Housing and Urban
Development, or any successor thereto, and including the Federal Housing Commissioner and the Secretary of Housing and Urban Development where appropriate under the FHA Regulations. 

“FHA Loan” shall mean a Mortgage Loan which is the subject of an FHA Mortgage Insurance Certificate. 

“FHA Mortgage Insurance Certificate” shall mean the certificate evidencing the contractual obligation of the FHA respecting
the insurance of a Mortgage Loan. 
 “FHA Regulations” shall mean the regulations promulgated by the Department of Housing
and Urban Development under the National Housing Act, as amended from time to time and codified in 24 Code of Federal Regulations, and other Department of Housing and Urban Development issuances relating to FHA Loans, including the related
handbooks, circulars, notices and mortgagee letters. 
 “FICO” shall mean Fair Isaac & Co., or any successor
thereto. 
 “Fidelity Insurance” shall mean insurance coverage with respect to employee errors, omissions, dishonesty,
forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Buyer. 

  
 9 

 “Financial Condition Covenants” shall mean the financial covenants of the
Financial Reporting Party as set forth in Section 4 of the Pricing Letter. 
 “Financial Reporting Party” shall have
the meaning specified in the Pricing Letter. 
 “Financial Statements” shall have the meaning set forth in
Section 11(d) of the Agreement. 
 “Freddie Mac” shall mean Federal Home Loan Mortgage Corporation, or any successor
thereto. 
 “GAAP” shall mean generally accepted accounting principles in the United States of America, applied on a
consistent basis and applied to both classification of items and amounts, and shall include, without limitation, the official interpretations thereof by the Financial Accounting Standards Board, its predecessors and successors. 

“Ginnie Mae” shall mean the Government National Mortgage Association, or any successor thereto. 

“GLB Act” shall have the meaning set forth in Section 11(u) of the Agreement. 

“Governmental Authority” shall mean any nation or government, any state, county, municipality or other political subdivision
thereof or any governmental body, agency, authority, department or commission (including, without limitation, any taxing authority) or any instrumentality or officer of any of the foregoing (including, without limitation, any court or tribunal)
exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government and any corporation, partnership or other entity directly or indirectly owned by or controlled by the foregoing and with respect to
any insured depository institution, including without limitation the Appropriate Federal Banking Agency. 
 “Guarantee”
shall mean, as to any Person, any obligation of such Person directly or indirectly guaranteeing any Indebtedness of any other Person or in any manner providing for the payment of any Indebtedness of any other Person or otherwise protecting the
holder of such Indebtedness against loss (whether by virtue of partnership arrangements, by agreement to keep-well, to purchase assets, goods, securities or services, or to take-or-pay or otherwise); provided that the term
“Guarantee” shall not include endorsements for collection or deposit in the ordinary course of business. The amount of any Guarantee of a Person shall be deemed to be an amount equal to the stated or determinable amount of the
primary obligation in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by such Person in good faith. The terms “Guarantee” and
“Guaranteed” used as verbs shall have correlative meanings. 
 “HARP Mortgage Loan” shall mean a Mortgage
Loan, which (a) is secured by a first lien, (b) conforms to the requirements of an Agency for securitization or cash purchase but does not otherwise meet all of the requirements of a Conforming Mortgage Loan as set forth in the Program
Documents and (c) is a refinance Mortgage Loan originated in accordance with and pursuant to HARP 2.0. 

  
 10 

 “HARP 2.0” shall mean the Home Affordable Refinance Program 2.0. 

“Hedge Agreement” shall mean, with respect to any or all of the Purchased Assets, any short sale of a US Treasury Security,
or futures contract, or mortgage related security, or Eurodollar futures contract, or options related contract, or interest rate swap, cap or collar agreement or Takeout Commitment, or similar arrangement providing for protection against
fluctuations in interest rates or the exchange of nominal interest obligations, either generally or under specific contingencies, entered into by Seller with a party and with terms, both acceptable to Buyer. 

“High Balance Mortgage Loan” shall mean a Mortgage Loan, which is secured by a first lien (subject to Permitted
Encumbrances), and such Mortgage Loan (a) conforms to the requirements of an Agency for securitization or cash purchase; (b) has an original Mortgage Loan principal balance in excess of general conventional loan amounts for Conforming
Mortgage Loans; (c) has an original Mortgage Loan principal balance that is less than the maximum high balance county limit for the county in which the related Mortgaged Property is located and (d) has a minimum FICO score of 660. 

“High Cost Mortgage Loan” shall mean a Mortgage Loan (a) classified as a “high cost” loan under the Home
Ownership and Equity Protection Act of 1994; (b) classified as a “high cost,” “high risk,” “high rate,” “threshold,” “covered,” or “predatory” loan under any other applicable state,
federal or local law (or a similarly classified loan using different terminology under a law, regulation or ordinance imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates,
points and/or fees) or (c) having a percentage listed under the Indicative Loss Severity Column (the column that appears in the S&P Anti-Predatory Lending Law Update Table, included in the then-current S&P’s LEVELS® Glossary of
Terms on Appendix E). 
 “HUD” shall mean the Department of Housing and Urban Development or any successor thereto. 

“Income” shall mean, with respect to any Mortgage Loan at any time, any principal thereof then payable and all interest,
dividends or other distributions payable thereon. 
 “Indebtedness” shall mean (a) all indebtedness for borrowed money
or for the deferred purchase price of property or services and all obligations under leases which are or should be under GAAP, recorded as capital leases, in respect of which a person is directly or contingently liable as borrower, guarantor,
endorser or otherwise, or in respect of which a person otherwise assures a creditor against loss, (b) all obligations for borrowed money or for the deferred purchase price of a property or services secured by (or for which the holder has an
existing right, contingent or otherwise, to be secured by) any lien upon property (including without limitation accounts receivable and contract rights) owned by a person, whether or not such person has assumed or become liable for the payment
thereof, and (c) all other liabilities and obligations which would be classified in accordance with GAAP as liabilities on a balance sheet or to which reference should be made in footnotes thereto. 

  
 11 

 “Indemnified Party” shall have the meaning set forth in Section 14(a) of
the Agreement. 
 “Insolvency Event” shall mean, for any Person: 

(A) that such Person shall discontinue or abandon operation of its business; or 

(B) that such Person shall fail generally to, or admit in writing its inability to, pay its debts as they become due; or 

(C) an involuntary proceeding shall have been instituted in a court having jurisdiction in the premises seeking a decree or
order for relief in respect of such Person in an involuntary case under any applicable bankruptcy, insolvency, liquidation, reorganization or other similar Requirement of Law now or hereafter in effect, or for the appointment of a receiver,
liquidator, assignee, trustee, custodian, sequestrator, conservator or other similar official of such Person, or for any substantial part of its property, or for the winding-up or liquidation of its affairs, and, in each case, is not released,
vacated or fully bonded within 30 calendar days after the proceeding has been instituted; or 
 (D) the commencement by such
Person of a voluntary case under any applicable bankruptcy, insolvency or other similar Requirement of Law now or hereafter in effect, or such Person’s consent to the entry of an order for relief in an involuntary case under any such
Requirement of Law, or consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator, conservator or other similar official of such Person, or for any substantial part of its property, or
any general assignment for the benefit of creditors; or 
 (E) that such Person shall become insolvent; or 

(a) if such Person is a corporation, such Person shall take any corporate action in furtherance of, or the action of which
would result in any of the actions set forth in the preceding clauses (a), (b), (c), (d) or (e). 
 “Insured Depository
Institution” shall have the meaning ascribed to such term by Section 1813(c)(2) of Title 12 of the United States Code, as amended from time to time. 

“Jumbo Mortgage Loan” shall mean a Mortgage Loan which is secured by a first lien (subject to Permitted Encumbrances)
Mortgage that (a) has an original Mortgage Loan principal balance in excess of general Conforming Mortgage Loan limits but not in excess of $3,000,000 or such other amount agreed to by Buyer in its sole discretion, (b) has an original
Mortgage Loan principal balance in excess of the maximum high balance county limit for the county that the subject property is located in but not in excess of $3,000,000 or such other amount agreed to by Buyer in its sole discretion; (c) meets
the eligibility requirements of Buyer as determined in its sole discretion and (d) has a Takeout Commitment from an Approved Investor which (i) shall include evidence of an underwriting approval, with no conditions outstanding to close the
Mortgage Loan and a Takeout Price, purchase price commitment number and purchase price commitment expiration date for the Mortgage Loan or (ii) is in form and substance acceptable to Buyer in its sole discretion. 

  
 12 

 “Lien” shall mean any lien, claim, charge, restriction, pledge, security
interest, mortgage, deed of trust or other encumbrance. 
 “Litigation Threshold” shall have the meaning specified in the
Pricing Letter. 
 “LTV” shall mean (a) with respect to any Mortgage Loan other than a HARP Mortgage Loan, the ratio
of the original outstanding principal amount of the Mortgage Loan to the Appraised Value of the Mortgaged Property at origination and (b) with respect to any Mortgage Loan that is a HARP Mortgage Loan, the ratio of the original outstanding
principal amount of the HARP Mortgage Loan to the Appraised Value of the Mortgaged Property as of the date such Mortgage Loan is funded as a refinanced Mortgage Loan under HARP 2.0. 

“Maintenance Fee Rate” shall have the meaning specified in the Pricing Letter. 

“Manufactured Home Mortgage Loans” shall have the meaning specified in paragraph (k) on Schedule 1. 

“Margin Call” shall have the meaning specified in Section 4(b) of the Agreement. 

“Margin Deficit” shall have the meaning specified in Section 4(b) of the Agreement. 

“Market Value” shall mean, as of any date with respect to any Purchased Asset, the price at which such Purchased Asset could
readily be sold as determined by Buyer in its sole discretion on a servicing released basis which price may be determined to be zero. Seller acknowledges that Buyer’s determination of Market Value is for the limited purpose of determining the
value of the Purchased Assets for the purposes hereunder without the ability to perform customary Buyer’s due diligence and is not necessarily equivalent to a determination of the fair market value of the Purchased Assets achieved by obtaining
competing bids in an orderly market in which the originator/servicer is not in default hereunder and the bidders have adequate opportunity to perform customary loan and servicing due diligence. Buyer’s good faith determination of Market Value
shall be conclusive upon the parties absent manifest error. 
 “Material Adverse Effect” shall mean a material adverse
effect on (a) the Property, business, operations, financial condition or prospects of Seller, (b) the ability of Seller to perform its obligations under any of the Program Documents to which it is a party, (c) the validity or
enforceability of any of the Program Documents, (d) the rights and remedies of Buyer or any Affiliate under any of the Program Documents, (e) the timely payment of any amounts payable under the Program Documents or (f) the Asset Value
of the Purchased Assets taken as a whole. 
 “Maximum Aggregate Purchase Price” shall have the meaning set forth in the
Pricing Letter. 
 “Maximum Available Purchase Price” shall have the meaning set forth in the Pricing Letter. 

  
 13 

 “Maximum Available Committed Purchase Price” shall have the meaning set forth in
the Pricing Letter. 
 “MERS” shall mean Mortgage Electronic Registration Systems, Inc., a corporation organized and
existing under the laws of the State of Delaware, or any successor thereto. 
 “MERS System” shall mean the system of
recording transfers of mortgages electronically maintained by MERS. 
 “Minimum Balance Requirement” shall have the meaning
set forth in the Pricing Letter. 
 “Monthly Financial Statement Date” shall have the meaning set forth in the Pricing
Letter. 
 “Monthly Payment” shall mean the scheduled monthly payment of principal and interest on a Mortgage Loan. 

“Mortgage” shall mean each mortgage, assignment of rents, security agreement and fixture filing, or deed of trust, assignment
of rents, security agreement and fixture filing, deed to secure debt, assignment of rents, security agreement and fixture filing, or similar instrument creating and evidencing a first lien (subject to Permitted Encumbrances) on real property and
other property and rights incidental thereto, unless such Mortgage is granted in connection with a Co-op Loan, in which case the first lien position (subject to Permitted Encumbrances) is in the Co-op Shares and in the Proprietary Lease relating to
such Co-op Shares. 
 “Mortgage File” shall mean, with respect to a Mortgage Loan, the documents and instruments relating
to such Mortgage Loan and set forth in the Custodial Agreement. 
 “Mortgage Interest Rate” shall mean the rate of interest
borne on a Mortgage Loan from time to time in accordance with the terms of the related Mortgage Note. 
 “Mortgage Loan”
shall mean any first lien (subject to Permitted Encumbrances), one-to-four-family residential mortgage loan evidenced by a Mortgage Note and secured by a Mortgage, which Mortgage Loan is subject to a Transaction hereunder, which in no event shall
include any mortgage loan which (a) is subject to Section 226.32 of Regulation Z or any similar state law (relating to high interest rate credit/lending transactions), (b) includes any single premium credit, life or accident and
health insurance or disability insurance, or (c) is a High Cost Mortgage Loan. 
 “Mortgage Loan Schedule” shall mean
with respect to any Transaction as of any date, a mortgage loan schedule in the form of a computer tape or other electronic medium generated by Seller and delivered to Buyer via the Warehouse Electronic System and to Custodian as specified in the
Custodial Agreement, which provides information relating to the Purchased Assets in a format required by Buyer. 

  
 14 

 “Mortgage Note” shall mean the promissory note or other evidence of the
indebtedness of a Mortgagor secured by a Mortgage. 
 “Mortgage Product” shall have the meaning set forth in the Pricing
Letter. 
 “Mortgaged Property” shall mean the real property or other Co-op Loan collateral securing repayment of the debt
evidenced by a Mortgage Note. 
 “Mortgagor” shall mean the obligor or obligors on a Mortgage Note, including any Person
who has assumed or guaranteed the obligations of the obligor thereunder. 
 “Net Income” shall mean, for any Person for any
period, the net income of such Person for such period as determined in accordance with GAAP. 
 “Netting Agreement” shall
mean that certain Master Netting and Setoff Agreement dated as of the date hereof, among Buyer, UBS Real Estate Securities Inc. and Seller as the same may be amended from time to time. 

“Non-Excluded Taxes” shall have the meaning set forth in Section 7(a) of the Agreement. 

“Non-Exempt Buyer” shall have the meaning set forth in Section 7(e) of the Agreement. 

“Nondefaulting Party” shall have the meaning set forth in Section 29 of the Agreement. 

“Obligations” shall mean (a) any amounts owed by Seller to Buyer in connection with a Transaction hereunder, together
with interest thereon (including interest which would be payable as post-petition interest in connection with any bankruptcy or similar proceeding) and all other fees or expenses which are payable hereunder or under any of the Program Documents and
(b) all other obligations or amounts owed by Seller to Buyer or an Affiliate of Buyer under any other contract or agreement, in each case, whether such amounts or obligations owed are direct or indirect, absolute or contingent, matured or
unmatured. 
 “Omnibus Account” shall mean the account established pursuant to Section 9(d) of the Agreement. 

“Operating Account” shall mean the account established pursuant to Section 9(d) of the Agreement. 

“Operating Account Rate” shall have the meaning specified in the Pricing Letter. 

“Other Conforming Mortgage Loan” shall mean a Mortgage Loan, which is secured by a first lien (subject to Permitted
Encumbrances), such Mortgage Loan either (a) conforms to the requirements of an Agency for securitization or cash purchase or (b) is eligible to be insured by FHA, guaranteed by VA or guaranteed by RD (excluding any Mortgage Loan which
exceeds Agency guidelines for maximum general conventional loan amount) but does not otherwise meet all of the requirements of a Conforming Mortgage Loan as set forth herein. 

  
 15 

 “Other Taxes” shall have the meaning set forth in Section 7(b) of the
Agreement. 
 “PBGC” shall mean the Pension Benefit Guaranty Corporation or any entity succeeding to any or all of its
functions under ERISA. 
 “Permitted Encumbrances” shall mean the items described in clauses (m)(i) through (iii) of
Schedule 1. 
 “Person” shall mean any individual, corporation, company, voluntary association, partnership, joint venture,
limited liability company, trust, unincorporated association or government (or any agency, instrumentality or political subdivision thereof). 

“Plan” shall have the meaning set forth in Section 10(s) of the Agreement. 

“PMI Policy” shall mean a policy of primary mortgage guaranty insurance issued by a Qualified Insurer, as required by this
Agreement with respect to certain Mortgage Loans. 
 “Post-Default Rate” shall have the meaning set forth in the Pricing
Letter. 
 “Power of Attorney” shall have the meaning set forth in Section 8(d) of the Agreement. 

“Price Differential” shall mean, with respect to any Transaction hereunder as of any date, the aggregate amount obtained by
daily application of the Pricing Rate (or, during the continuation of an Event of Default, by daily application of the Post-Default Rate) for such Transaction to the Purchase Price for such Transaction on a 360 day per year basis for the actual
number of days during the period commencing on (and including) the Purchase Date for such Transaction and ending on (but excluding) the Repurchase Date (reduced by any amount of such Price Differential previously paid by Seller to Buyer with respect
to such Transaction). 
 “Pricing Letter” shall mean that certain letter agreement among Buyer and each Seller Party, dated
as of the date hereof, as the same may be amended from time to time. 
 “Pricing Rate” shall have the meaning set forth in
the Pricing Letter. 
 “Program Documents” shall mean this Agreement, the Pricing Letter, the Custodial Agreement, the
Electronic Tracking Agreement, the Netting Agreement, the Application, a Servicer Notice, if any, and the Power of Attorney. 

“Property” shall mean any right or interest in or to property of any kind whatsoever, whether real, personal or mixed and
whether tangible or intangible. 
 “Proprietary Lease” shall mean the lease on a Co-op Unit evidencing the possessory
interest of the owner in the Co-op Shares in such Co-op Unit. 

  
 16 

 “Purchase Advice” shall mean a list of Purchased Assets that are requested to be
repurchased in connection with a sale to an Approved Investor which shall set forth the loan identification numbers and related Takeout Price on a loan-by-loan and aggregate basis in an electronic format agreed to by Buyer. 

“Purchase Advice Deficiency” shall have the meaning set forth in Section 3(e) of the Agreement. 

“Purchase Date” shall mean the date on which Purchased Assets are transferred by Seller to Buyer or its designee. 

“Purchase Price” shall have the meaning set forth in the Pricing Letter. 

“Purchased Agency Security” shall mean each Agency Security that is subject to a Transaction and which has not been
repurchased by Seller hereunder. 
 “Purchased Assets” shall mean the Purchased Mortgage Loans and the Purchased Agency
Securities. 
 “Purchased Mortgage Loan” shall mean each Mortgage Loan sold by Seller to Buyer in a Transaction, as
reflected in the Confirmation, and which has not been repurchased by Seller hereunder. 
 “QM Rule” shall mean 12 CFR
1026.43(e), including all applicable official staff commentary. 
 “Qualified Insurer” shall mean a mortgage guaranty
insurance company duly authorized and licensed where required by law to transact mortgage guaranty insurance business and acceptable under the Approved Underwriting Guidelines. 

“Qualified Mortgage” shall mean a Mortgage Loan that satisfies the criteria for a “qualified mortgage” as set forth
in the QM Rule. 
 “RD” shall mean the United States Department of Agriculture Rural Development and any successor thereto.

 “Recognition Agreement” shall mean, an agreement among a Co-op Corporation, a lender and a Mortgagor with respect to a
Co-op Loan whereby such parties (i) acknowledge that such lender may make, or intends to make, such Co-op Loan, and (ii) make certain agreements with respect to such Co-op Loan. 

“Records” shall mean all instruments, agreements and other books, records, and reports and data generated by other media for
the storage of information maintained by Seller or any other person or entity with respect to a Purchased Asset. Records shall include the Mortgage Notes, any Mortgages, the Mortgage Files, the credit files related to the Purchased Asset and any
other instruments necessary to document or service a Mortgage Loan. 
 “Register” shall have the meaning set forth in
Section 18(b) of the Agreement. 

  
 17 

 “Regulations T, U and X” shall mean Regulations T, U and X of the Board of
Governors of the Federal Reserve System (or any successor), as the same may be modified and supplemented and in effect from time to time. 

“Reportable Event” shall mean any of the events set forth in Section 4043(c) of ERISA, other than those events as to
which the thirty day notice period is waived under subsections .21, .22, .24, .26, .27 or .28 of PBGC Reg. § 4043. 

“Reporting Date” shall have the meaning set forth in the Pricing Letter. 

“Reporting Period” shall have the meaning provided in Section 10(s) of the Agreement. 

“Repurchase Assets” shall have the meaning provided in Section 8(a) of the Agreement. 

“Repurchase Date” shall mean the date on which Seller is to repurchase the Purchased Assets subject to a Transaction from
Buyer which shall be the earliest of (i) the Termination Date or (ii) any date determined by application of the provisions of Sections 3(e) or 13. 

“Repurchase Price” shall mean the price at which Purchased Assets are to be transferred from Buyer or its designee to Seller
upon termination of a Transaction, which will be determined in each case (including Transactions terminable upon demand) as the sum of (a) the Purchase Price; (b) any unpaid Price Differential plus (c) any Warehouse Fees or other fees
due as of the date of such determination. 
 “Requirement of Law” shall mean as to any Person, the certificate of
incorporation and bylaws or other organizational or governing documents of such Person, and any law, treaty, rule, regulation, procedure or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or
binding upon such Person or any of its property or to which such Person or any of its Property is subject. 
 “Resi
Facility” shall have the meaning set forth in the Pricing Letter. 
 “Resi Operating Account” shall mean the
“Operating Account” as defined in the RESI Facility. 
 “Responsible Officer” shall mean an officer of Seller
Party listed on Schedule 2 hereto, as such Schedule 2 may be amended from time to time. 
 “S&P” shall
mean Standard & Poor’s Ratings Services, or any successor thereto. 
 “Sanctions” shall have the meaning set
forth in Section 10(y) of the Agreement. 
 “Scheduled Indebtedness” shall have the meaning set forth in
Section 10(n) of the Agreement. 

  
 18 

 “SEC” shall have the meaning set forth in Section 32 of the Agreement. 

“Section 4402” shall have the meaning set forth in Section 29 of the Agreement. 

“Seller” shall mean loanDepot.com, LLC, or any successor in interest thereto. 

“Seller Party” shall mean each of Seller and the Guarantor, if any, and collectively, Seller Parties. 

“Servicer” shall mean Seller, its successors in interest and assigns as approved by Buyer. 

“Servicer Notice” shall mean to the extent applicable, the notice acknowledged by the third party Servicer substantially in
the form of Exhibit C hereto. 
 “Servicing Agreement” shall have the meaning set forth in Section 15(b) of the
Agreement. 
 “Servicing Rights” shall mean the rights of any Person to administer, service or subservice, the Purchased
Assets or to possess related Records. 
 “Servicing Term” shall have the meaning set forth in Section 15(a) of the
Agreement. 
 “Settlement Agent” shall mean a closing agent or a title insurance company or its agent which has not been
disapproved by Buyer in its sole discretion. 
 “SIPA” shall have the meaning set forth in Section 32 of the
Agreement. 
 “Stock Certificate” shall mean, with respect to a Co-op Loan, the certificates evidencing ownership of the
Co-op Shares issued by the Co-op Corporation. 
 “Stock Power” shall mean, with respect to a Co-op Loan, an assignment of
the Stock Certificate or an assignment of the Co-op Shares issued by the Co-op Corporation. 
 “Subservicer” shall have the
meaning set forth in Section 15(b) of the Agreement. 
 “Subsidiary” shall mean, with respect to any Person, any
corporation, partnership or other entity of which at least a majority of the securities or other ownership interests having by the terms thereof ordinary voting power to elect a majority of the board of directors or other persons performing similar
functions of such corporation, partnership or other entity (irrespective of whether or not at the time securities or other ownership interests of any other class or classes of such corporation, partnership or other entity shall have or might have
voting power by reason of the happening of any contingency) is at the time directly or indirectly owned or controlled by such Person or one or more Subsidiaries of such Person or by such Person and one or more Subsidiaries of such Person. 

  
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 “Successor Servicer” shall have the meaning set forth in Section 15(g) of
the Agreement. 
 “Takeout Commitment” shall mean (a) with respect to Purchased Assets other than Jumbo Mortgage Loans
and Purchased Agency Securities, either (i) a commitment of Seller to sell one or more such Purchased Assets to an Approved Investor (including an Agency) and the corresponding Approved Investor’s (including an Agency’s) commitment
back to Seller to effectuate the foregoing, which commitment may be in the form of a “to be allocated” (TBA) commitment for which the related Purchased Assets are allocated or (ii) a commitment of an Agency to swap one or more
Purchased Mortgage Loans for an Agency Security, which commitment may be in the form of a “to be allocated” (TBA) commitment for which the related Purchased Mortgage Loans are allocated; (b) with respect to Purchased Assets that are
Jumbo Mortgage Loans, (i) a commitment of Seller to sell one or more such Purchased Assets to an Approved Investor and the corresponding Approved Investor’s commitment back to Seller to effectuate the foregoing, or (ii) evidence that
the Seller is granted delegated authority by the Approved Investor, which in each instance meets the requirements set forth in the definition of “Jumbo Mortgage Loan”; and (c) with respect to Purchased Agency Securities, a commitment
of Seller to sell one or more Purchased Agency Securities to an Approved Investor and the corresponding Approved Investor’s commitment back to Seller to effectuate the foregoing; and in each case, the expiration date of such commitment has not
occurred. 
 “Takeout Failure” shall mean, with respect to any Takeout Commitment (a) for the purchase of a Purchased
Asset, the failure of the Approved Investor to purchase such Purchased Asset pursuant to such Takeout Commitment and (b) for the swap of a Purchased Mortgage Loan for an Agency Security backed by such Purchased Mortgage Loan, an Agency Security
Issuance Failure. 
 “Takeout Price” shall mean the price at which the Approved Investor has agreed to purchase a Purchased
Asset from the Seller. 
 “Tax Compliance Certificate” shall have the meaning set forth in Section 7(e)(ii) hereof.

 “Taxes” shall have the meaning set forth in Section 7(a) of the Agreement. 

“Temporary Increase” shall have the meaning set forth in Section 3(f) of the Agreement. 

“Temporary Increase Request” shall mean a request by a Seller Party for a Temporary Increase in the form of Exhibit G
hereto. 
 “Temporary Maximum Aggregate Purchase Price” shall have the meaning set forth in Section 3(f) of the
Agreement. 
 “Termination Date” shall have the meaning set forth in the Pricing Letter. 

“Third Party Participants” shall have the meaning set forth in Section 11(x) of the Agreement. 

  
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 “Third Party Transaction Parties” shall have the meaning set forth in
Section 16 of the Agreement. 
 “Trade Assignment” shall mean an assignment to Buyer of a forward trade between an
Approved Investor and Seller with respect to one or more Purchased Agency Securities substantially in the form of Exhibit D hereto. 

“Transaction” shall have the meaning specified in Section 1 of the Agreement. 

“Transaction Request” shall mean a request from Seller to Buyer to enter into a Transaction, which shall be submitted
electronically through the Warehouse Electronic System. 
 “Trust Receipt” shall mean the “Master Trust Receipt”
as defined in the Custodial Agreement. 
 “Uniform Commercial Code” or “UCC” shall mean the Uniform
Commercial Code as in effect from time to time in the State of New York; provided that if by reason of mandatory provisions of law, the perfection or the effect of perfection or non-perfection of the security interest in any Repurchase Assets or the
continuation, renewal or enforcement thereof is governed by the Uniform Commercial Code as in effect in a jurisdiction other than New York, “Uniform Commercial Code” shall mean the Uniform Commercial Code as in effect in such other
jurisdiction for purposes of the provisions of the Agreement relating to such perfection or effect of perfection or non-perfection. 

“U.S. Treasury Regulations” shall mean regulations promulgated by the U.S. Department of the Treasury under the Code. 

“VA” shall mean the U.S. Department of Veterans Affairs, an agency of the United States of America, or any successor thereto
including the Secretary of Veterans Affairs. 
 “Warehouse Accounts” shall have the meaning set forth in Section 9(c)
of the Agreement. 
 “Warehouse Electronic System” shall mean the system utilized by Buyer either directly, or through its
vendors, and which may be accessed by Seller in connection with delivering and obtaining information and requests in connection with the Program Documents. 

“Warehouse Fees” shall have the meaning set forth in the Pricing Letter. 

“Wet Delivery Deadline” shall have the meaning set forth in the Pricing Letter. 

“Wet Loan” shall mean a Mortgage Loan which Seller is selling to Buyer simultaneously with the origination thereof. 

“Wiring Instructions” shall mean the wiring instructions of Buyer and Seller as provided to the other party in writing, as
applicable. 

  
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	SECTION 3.	INITIATION; TERMINATION 

 (a) Conditions Precedent to Initial Transaction.
Buyer’s agreement to enter into the initial Transaction hereunder is subject to the satisfaction, immediately prior to or concurrently with the making of such Transaction, of the condition precedent that Buyer shall have received from Seller
any fees and expenses payable hereunder, and all of the following documents, each of which shall be satisfactory to Buyer and its counsel in form and substance: 

(i) Program Documents. The Program Documents duly executed and delivered by the parties thereto. 

(ii) Officer’s Certificate. An officer’s certificate of each Seller Party substantially in the form of
Exhibit B attached hereto which shall include (A) certified copies of the organizational documents of each Seller Party and (B) a certified copy of a good standing certificate from the jurisdiction of organization of each Seller Party,
dated as of no earlier than the date ten (10) Business Days prior to the Purchase Date with respect to the initial Transaction hereunder. 

(iii) Opinion of Counsel. An opinion of each Seller Party’s counsel addressing those matters as set forth on
Exhibit A attached hereto. 
 (iv) Security Interest. Evidence that all other actions necessary or, in the opinion
of Buyer, desirable to perfect and protect Buyer’s interest in the Purchased Assets and other Repurchase Assets have been taken, including, without limitation, UCC searches and duly authorized and filed Uniform Commercial Code financing
statements on Form UCC-1. 
 (v) Insurance. Evidence that Seller has added endorsements for theft of warehouse lender
money and collateral, naming Buyer as a loss payee under its Fidelity Insurance and as a direct loss payee/right of action under its errors and omissions insurance policy. 

(vi) Warehouse Fees. Payment of any Warehouse Fees and other costs and expenses due and payable to Buyer hereunder. 

(vii) Other Documents. Such other documents as Buyer may reasonably request, in form and substance reasonably acceptable
to Buyer. 
 (b) Conditions Precedent to all Transactions. Upon satisfaction of the conditions set forth in this Section 3(b),
Buyer may enter into a Transaction with Seller. Buyer’s entering into each Transaction (including the initial Transaction) is subject to the satisfaction of the following further conditions precedent, both immediately prior to entering into
such Transaction and also after giving effect thereto to the intended use thereof: 
 (i) Due Diligence Review.
Without limiting the generality of Section 16 of the Agreement, Buyer shall have completed, to its satisfaction, its preliminary due diligence review of the related Mortgage Loans and Seller Parties. 

  
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 (ii) No Default. No Default or Event of Default shall have occurred and be
continuing under the Program Documents. 
 (iii) Representations and Warranties. Both immediately prior to the
Transaction and also after giving effect thereto and to the intended use thereof, the representations and warranties made by each Seller Party in Section 10 of the Agreement, shall be true, correct and complete on and as of such Purchase Date
in all material respects with the same force and effect as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date). 

(iv) Maximum Available Purchase Price. After giving effect to the requested Transaction, the aggregate outstanding
Purchase Price for all Purchased Assets subject to then outstanding Transactions under this Agreement shall not exceed the Maximum Available Purchase Price. 

(v) No Margin Deficit. After giving effect to the requested Transaction, the Asset Value of all Purchased Assets exceeds
the aggregate Purchase Price for such Transactions. 
 (vi) Transaction Request. Seller shall have delivered to Buyer
a Mortgage Loan Schedule with respect to all Mortgage Loans subject to the requested Transaction pursuant to the timeframes set forth in Section 3(c) hereof. 

(vii) Delivery of Mortgage File. Seller shall have delivered to Custodian the Mortgage File with respect to each
Mortgage Loan (other than a Wet Loan) subject to the requested Transaction in accordance with the timeframes set forth in the Custodial Agreement. 

(viii) Delivery of Trust Receipt. Custodian shall have delivered to Buyer, in accordance with the timeframes set forth
in the Custodial Agreement, a Trust Receipt and a Custodial Loan Transmission with respect to each Mortgage Loan subject to the requested Transaction. 

(ix) Release Documentation. If requested by Buyer, Seller shall have delivered to Buyer (a) with respect to a
Correspondent Mortgage Loan, a bailee letter from the third party originator or its designee; (b) with respect to a Mortgage Loan that has been subject to a third party warehouse agreement (as approved by Buyer), a release from the related
warehouse lender and (c) with respect a Mortgage Loan that Buyer is purchasing directly from Seller (as approved by Buyer), a release from Seller, in each case in form and substance acceptable to Buyer in its sole discretion. 

(x) Fees and Expenses. Buyer shall have received all fees and expenses as contemplated by Sections 9 and 14(b) which
amounts, at Buyer’s option, may be withheld from the proceeds remitted by Buyer to Seller pursuant to any Transaction hereunder; and 

  
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 (xi) No Violation of Law. If any Requirement of Law (other than with
respect to any amendment made to Buyer’s certificate of incorporation and bylaws or other organizational or governing documents) or any change in the interpretation or application of any Requirement of Law thereof or compliance by Buyer with
any request or directive (whether or not having the force of law) from any central bank or other Governmental Authority made subsequent to the date hereof shall result in Buyer’s entering into any Transaction to be a violation of such
Requirement of Law. 
 (xii) No Material Adverse Change. None of the following shall have occurred and/or be
continuing: 
 (A) an event or events shall have occurred in the good faith determination of Buyer resulting in the effective
absence of a “repo market” or comparable “lending market” for financing debt obligations secured by mortgage loans or securities or an event or events shall have occurred resulting in Buyer not being able to finance Mortgage
Loans through the “repo market” or “lending market” with traditional counterparties at rates which would have been reasonable prior to the occurrence of such event or events; or 

(B) an event or events shall have occurred resulting in the effective absence of a “securities market” for securities
backed by mortgage loans or an event or events shall have occurred resulting in Buyer not being able to sell securities backed by mortgage loans at prices which would have been reasonable prior to such event or events; or 

(C) there shall have occurred a material adverse change in the financial condition of Buyer which affects (or can reasonably be
expected to affect) materially and adversely the ability of Buyer to fund its obligations under this Agreement; or 
 (D)
there shall have occurred (i) a material change in financial markets, an outbreak or escalation of hostilities or a material change in national or international political, financial or economic conditions; (ii) a general suspension of
trading on major stock exchanges; or (iii) a disruption in or moratorium on commercial banking activities or securities settlement services. 

(xiii) Maintenance of DE Compare Ratio. Seller’s DE Compare Ratio as of the most recent calendar quarter has not
exceeded 195%. 
 Each Transaction Request delivered by Seller hereunder shall constitute a certification by Seller that all the conditions
set forth in this Section 3(b) (other than clause (xii) hereof) have been satisfied (both as of the date of such notice or request and as of Purchase Date). 

(c) Initiation. 

(i) Throughout each Business Day, Seller may request that Buyer enter into Transactions hereunder by delivering a Mortgage Loan
Schedule with respect to all 

  
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Mortgage Loans subject to the requested Transaction on or prior to (A) with respect to Wet Loans, 4:00 p.m. (New York City time) on the requested Purchase Date and (B) with respect to
Mortgage Loans other than Wet Loans, 2:00 p.m. (New York City time) on the Business Day prior to the requested Purchase Date. 

(ii) Seller shall deliver to Custodian the Mortgage File with respect to each Mortgage Loan subject to the requested
Transaction (A) which is not a Wet Loan, in accordance with the timeframes set forth in the Custodial Agreement, and (B) with respect to each Wet Loan, on or prior to the Wet Delivery Deadline. 

(iii) Following receipt of such request, Buyer shall agree to enter into such requested Transaction so long as the conditions
set forth herein are satisfied and after giving effect to the requested Transaction the aggregate outstanding Purchase Price does not exceed the Maximum Available Committed Purchase Price, in which case Buyer shall remit the Purchase Price pursuant
to the Seller’s Wiring Instructions. 
 (iv) Buyer’s remittance of the Purchase Price in connection with the
Transaction and Seller’s acceptance thereof, will constitute the parties agreement to enter into such Transaction. Upon remittance of the Purchase Price to Seller, Seller hereby grants, assigns, conveys and transfers all rights in and to the
Purchased Assets evidenced on the related Mortgage Loan Schedule submitted through the Warehouse Electronic System. 
 (v)
Buyer shall confirm the terms of each Transaction by posting a Confirmation on the Warehouse Electronic System by the end of the day on each Purchase Date. Each Confirmation together with this Agreement, shall be conclusive evidence of the terms of
the Transaction(s) covered thereby unless objected to in writing by Seller no more than two (2) Business Days after the date such Confirmation was posted on the Warehouse Electronic System or unless a corrected Confirmation is posted by Buyer;
provided that Buyer’s failure to post a Confirmation shall not affect the obligations of Seller under any Transaction. An objection sent by Seller must state specifically that such writing which is an objection, must specify the provision(s)
being objected to by Seller, must set forth such provision(s) in the manner that Seller believes they should be stated, and must be received by Buyer no more than two (2) Business Days after the Confirmation was posted on the Warehouse
Electronic System. 
 (vi) The Repurchase Date for each Transaction shall not be later than the Termination Date. 

(d) Issuance of Agency Securities. Upon the written approval of Buyer and subject to (x) Seller’s prompt delivery to the
applicable Agency any and all documents necessary to enable such Agency to make Delivery to Buyer or its designee of an Agency Security backed by the related Purchased Mortgage Loans and (y) receipt of the applicable Trade Assignment, Seller
may cause Purchased Mortgage Loans to be pooled for the purpose of backing an Agency Security. At such time as an Agency Security backed by a pool of Purchased Mortgage Loans is delivered to Buyer by the applicable Agency, (a) such Agency
Security shall immediately and with no further action on the part of Buyer, Seller or Custodian become subject to a Transaction 

  
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hereunder and (b) the pool of Purchased Mortgage Loans backing such Agency Security shall immediately and with no further action on the part of Buyer, Seller or Custodian no longer be
subject to a Transaction hereunder and Buyer shall have been deemed to release any ownership and/or security interest it has in such pool of Purchased Mortgage Loans. 

(e) Repurchase; Purchase by an Approved Investor. 

(i) Seller may repurchase Purchased Assets without penalty or premium on any date by remitting to Buyer the applicable
Repurchase Price pursuant to the Buyer’s Wiring Instructions. 
 (ii) Any repurchase of Purchased Assets may occur
simultaneously with a sale of the Purchased Asset to an Approved Investor subject to the following procedures: 
 (A) Seller
shall instruct the Approved Investor to remit directly to Buyer pursuant to Buyer’s Wiring Instructions no later than 4:00 p.m. (New York City time) on any Business Day the Takeout Price in an amount equal to the Repurchase Price for such
Purchased Asset. 
 (B) Simultaneously, Seller shall deliver to Buyer electronically the related Purchase Advice. The Takeout
Price received by Buyer must equal the amount set forth on the Purchase Advice. 
 (C) The Takeout Price shall be applied to
reduce the Repurchase Price in respect of the Purchased Assets listed on the Purchase Advice. In the event the Takeout Price is less than the Repurchase Price, the Buyer shall withdraw funds from the Operating Account and Warehouse Accounts such
that no deficiency exists. For the avoidance of doubt, Buyer shall not release its interests in any Purchased Asset until such time as it receives the Repurchase Price in full. 

(D) In the event Buyer receives the Takeout Price on or prior to 4:00 p.m. (New York City time) and either (x) no Purchase
Advice is received or (y) the Takeout Price does not match the amount on the Purchase Advice (a “Purchase Advice Deficiency”), then Buyer shall retain the Takeout Price and the related Purchased Assets shall not be released and
the Transactions shall continue to accrue Price Differential under this Agreement until the Purchase Advice Deficiency is remedied. In the event the Takeout Price matches the amount set forth in the Purchase Advice but are in excess of the
Repurchase Price (such amount, the “Excess Proceeds”) provided that no Default or Event of Default exists, Buyer shall remit such Excess Proceeds to the Operating Account or as otherwise agreed to by Buyer and Seller. 

(E) In no event shall Buyer be liable to Seller, any Approved Investor or any other Person in connection with the procedures
set forth herein. 
 (iii) On the Repurchase Date, termination of the Transaction will be effected by reassignment to Seller
or its designee of the Purchased Assets against the simultaneous transfer of the Repurchase Price as described in this Section 3(e). Such obligation to repurchase exists without regard to any prior or intervening liquidation or foreclosure with
respect to any Purchased Asset. 

  
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 (f) Request for Temporary Increase. A Seller Party may request a temporary increase of the
Maximum Aggregate Purchase Price (a “Temporary Increase”) by submitting to Buyer an executed Temporary Increase Request, setting forth the requested increased Maximum Aggregate Purchase Price (such increased amount, the
“Temporary Maximum Aggregate Purchase Price”) and the effective date and expiration date of such Temporary Increase. Buyer may from time to time, in its sole and absolute discretion, consent to such Temporary Increase, by returning
to such Seller Party a countersigned Temporary Increase Request. At any time that a Temporary Increase is in effect, the Maximum Aggregate Purchase Price shall equal the Temporary Maximum Aggregate Purchase Price for all purposes of this Agreement
and all calculations and provisions relating to the Maximum Aggregate Purchase Price shall refer to the Temporary Maximum Aggregate Purchase Price. Upon the termination of a Temporary Increase, Seller shall repurchase Purchased Assets in order to
reduce the aggregate outstanding Purchase Price of all Transactions to the Maximum Aggregate Purchase Price (as reduced by the termination of such Temporary Increase). 
  

	SECTION 4.	MARGIN AMOUNT MAINTENANCE 

 (a) Buyer shall determine the Market Value of each Purchased
Asset at such intervals as determined by Buyer in its sole discretion. 
 (b) If at any time the aggregate Asset Values of Purchased Assets
then subject to Transactions are less than the aggregate Purchase Prices for such Purchased Assets (a “Margin Deficit”), then Buyer may by notice to Seller (as such notice is more particularly set forth below, a “Margin
Call”), require Seller to transfer to Buyer or its designee cash in the amount of the Margin Deficit. 
 (c) Notice delivered
pursuant to Section 4(b) may be given by any written or electronic means. Any notice given before 10:00 a.m. (New York City time) on a Business Day shall be met, and the related Margin Call satisfied, no later than 5:00 p.m. (New York City
time) on such Business Day; notice given after 10:00 a.m. (New York City time) on a Business Day shall be met, and the related Margin Call satisfied, no later than 5:00 p.m. (New York City time) on the following Business Day. 

(d) The failure of Buyer, on any one or more occasions, to exercise its rights hereunder, shall not change or alter the terms and conditions to
which this Agreement is subject or limit the right of Buyer to do so at a later date. Seller and Buyer each agree that a failure or delay by Buyer to exercise its rights hereunder shall not limit or waive Buyer’s rights under this Agreement or
otherwise existing by law or in any way create additional rights for Seller. 
 (e) Any cash transferred to Buyer pursuant to
Section 4(b) above shall be held as unsegregated cash margin and collateral for all Obligations under this Agreement. 

  
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	SECTION 5.	COLLECTIONS; INCOME PAYMENTS 

 (a) On each Business Day that a Transaction is
outstanding, the Pricing Rate shall be reset and, unless otherwise agreed, the accrued and unpaid Price Differential shall be settled in cash on each related Repurchase Date. To the extent a Purchased Asset is subject to a Transaction for a period
in excess of forty-five (45) calendar days, at Buyer’s sole option, Price Differential shall be settled in cash on such date and thereafter as more frequently requested by Buyer. 

(b) Upon request of Buyer, Seller shall establish and maintain a segregated time or demand deposit account for the benefit of Buyer (the
“Custodial Account”) with Buyer, UBS AG Stamford Branch or an Insured Depository Institution acceptable to Buyer in its sole discretion and shall deposit into the Custodial Account, within two (2) Business Days of receipt, all
Income received with respect to each Mortgage Loan sold hereunder. Seller shall cause all Income received with respect to the Purchased Assets by any Servicer to be remitted directly to the Custodial Account. Under no circumstances shall Seller
deposit any of its own funds into the Custodial Account or otherwise commingle its own funds with funds belonging to Buyer as owner of any Mortgage Loans. Seller shall name the Custodial Account “loanDepot.com, LLC in trust for the benefit of
UBS Bank USA.” 
 (c) All Income received with respect to a Mortgage Loan purchased hereunder, whether or not deposited in the
Custodial Account, shall be held in trust for the exclusive benefit of Buyer as the owner of such Mortgage Loan. 
 (d) Following an Event
of Default, Seller shall remit to Buyer all Income and any funds in the Custodial Account as instructed by Buyer in writing. Such remittances shall be by wire transfer in accordance with wire transfer instructions previously given to Seller by
Buyer. 
 (e) Seller authorizes Buyer to withdraw any Income otherwise due Buyer hereunder from any of the Warehouse Accounts and the
Operating Account. 
 (f) Seller shall not change the identity or location of the Custodial Account. Seller shall from time to time, at its
own cost and expense, execute such directions to Buyer, and other papers, documents or instruments as may be reasonably requested by Buyer. 

(g) If Buyer so requests, Seller shall promptly notify Buyer of each deposit in the Custodial Account, and each withdrawal from the Custodial
Account, made by it with respect to Mortgage Loans owned by Buyer and serviced by Seller. Seller shall also promptly deliver to Buyer photocopies of all periodic bank statements and other records relating to the Custodial Account as Buyer may from
time to time request. 
 (h) The amount required to be paid or remitted by Seller to Buyer, not made when due shall bear interest from the
due date until the remittance, transfer or payment is made, payable by Seller, at the lesser of the Post-Default Rate or the maximum rate of interest permitted by law. If there is no maximum rate of interest specified by applicable law, interest on
such sums shall accrue at the Post-Default Rate. 

  
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	SECTION 6.	REQUIREMENT OF LAW 

 (a) If any Requirement of Law (other than with respect to any
amendment made to Buyer’s certificate of incorporation and bylaws or other organizational or governing documents) including those regarding capital adequacy, or any change in the interpretation or application of any Requirement of Law thereof
or compliance by Buyer with any request or directive (whether or not having the force of law) from any central bank or other Governmental Authority made subsequent to the date hereof: 

(i) shall subject Buyer to any Tax or increased Tax of any kind whatsoever or change the basis of taxation of payments to
Buyer; 
 (ii) shall impose, modify or hold applicable any reserve, special deposit, compulsory loan or similar requirement
against assets held by, deposits or other liabilities in or for the account of, advances, or other extensions of credit by, or any other acquisition of funds by, any office of Buyer; 

(iii) shall impose on Buyer any other condition; 

and the result of any of the foregoing is to increase the cost to Buyer, by an amount which Buyer deems to be material, of entering, continuing or maintaining
any Transaction or to reduce any amount due or owing hereunder in respect thereof, or shall have the effect of reducing Buyer’s rate of return then, in any such case, Seller shall promptly pay Buyer such additional amount or amounts as
calculated by Buyer in good faith as will compensate Buyer for such increased cost or reduced amount receivable on an after-tax basis. 

(b) If Buyer shall have determined that the adoption of or any change in any Requirement of Law (other than with respect to any amendment made
to Buyer’s certificate of incorporation and by-laws or other organizational or governing documents) regarding capital adequacy or in the interpretation or application thereof or compliance by Buyer or any corporation controlling Buyer with any
request or directive regarding capital adequacy (whether or not having the force of law) from any Governmental Authority made subsequent to the date hereof shall have the effect of reducing the rate of return on Buyer’s or such
corporation’s capital as a consequence of its obligations hereunder to a level below that which Buyer or such corporation could have achieved but for such adoption, change or compliance (taking into consideration Buyer’s or such
corporation’s policies with respect to capital adequacy) by an amount deemed by Buyer to be material, then from time to time, Seller shall promptly pay to Buyer such additional amount or amounts as will compensate Buyer for such reduction. 

(c) If Buyer becomes entitled to claim any additional amounts pursuant to this Section 6, it shall promptly notify Seller of the event by
reason of which it has become so entitled. A certificate as to any additional amounts payable pursuant to this Section 6 submitted by Buyer to Seller shall be conclusive in the absence of manifest error. 

  
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	SECTION 7.	TAXES. 

 (a) Any and all payments by or on behalf of any Seller Party under or in respect
of this Agreement or any other Program Documents to which any Seller Party is a party shall be made free and clear of, and without deduction or withholding for or on account of, any and all present or future taxes, levies, imposts, duties,
deductions, assessments, fees, charges or withholdings (including backup withholdings), and all liabilities (including penalties, interest and additions to tax) with respect thereto, whether now or hereafter imposed, levied, collected, withheld or
assessed by any taxation authority or other Governmental Authority (collectively, “Taxes”), unless required by law. If any Person shall be required under any applicable Requirement of Law to deduct or withhold any Taxes from or in
respect of any sum payable under or in respect of this Agreement or any of the other Program Documents to Buyer (including, for purposes of Section 6 and this Section 7, any agent, assignee, successor or participant), (i) Seller Party
shall make all such deductions and withholdings in respect of Taxes, (ii) Seller Party shall timely pay the full amount deducted or withheld in respect of Taxes to the relevant taxation authority or other Governmental Authority in accordance
with any Requirement of Law, and (iii) the sum payable by Seller Party shall be increased as may be necessary so that after Seller Party has made all required deductions and withholdings (including deductions and withholdings applicable to
additional amounts payable under this Section 7) such Buyer receives an amount equal to the sum it would have received had no such deductions or withholdings been made in respect of Non-Excluded Taxes. For purposes of this Agreement the term
“Non- Excluded Taxes” are Taxes other than, in the case of a Buyer, (i) Taxes that are imposed on its overall net income (and franchise taxes imposed in lieu thereof) by the jurisdiction under the laws of which such Buyer is
organized or of its applicable lending office, or any political subdivision thereof, unless such Taxes are imposed as a result of such Buyer having executed, delivered or performed its obligations or received payments under, or enforced, this
Agreement or any of the other Program Documents (in which case such Taxes will be treated as Non- Excluded Taxes), and (ii) Taxes imposed as a result of its failure to comply with the requirements of Sections 1471 through 1474 of the Code (as
in effect on the date hereof) and any U.S. Treasury Regulations promulgated thereunder (“FATCA”). 
 (b) In addition, each
Seller Party hereby agrees to timely pay or, at the Buyer’s option, timely reimburse it for payment of, any present or future stamp, court, recording, documentary, excise, filing, intangible, property or value-added taxes, or similar taxes,
charges or levies that arise from any payment made under or in respect of this Agreement or any other Program Document or from the execution, delivery, enforcement or registration of, any performance, receipt or perfection of a security interest
under, or otherwise with respect to, this Agreement or any other Program Document (collectively, “Other Taxes”). 
 (c)
Each Seller Party hereby agrees to indemnify Buyer (including its Beneficial Tax Owners) for, and to hold it harmless against, the full amount of Non-Excluded Taxes and Other Taxes, and the full amount of Taxes of any kind imposed by any
jurisdiction on amounts payable under this Section 7 imposed on, paid, deducted or withheld by such Buyer (or any Beneficial Tax Owners thereof) and any liability (including penalties, additions to tax, interest and expenses) arising therefrom
or with respect thereto. A certificate as to the amount of such Taxes or liabilities delivered to the Seller Party by Buyer shall be conclusive absent manifest error. The indemnity by each Seller Party provided for in this Section 7(c) shall
apply and be made whether or not the Non-Excluded Taxes, Other Taxes or any other liabilities for which indemnification hereunder is sought have been correctly or legally asserted. Amounts payable by a Seller Party under the indemnity set forth in
this Section 7(c) shall be paid within ten (10) days from the date on which Buyer makes written demand therefor. 

  
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 (d) Within thirty (30) days of request of Buyer, Seller Party (or any Person making such
payment on behalf of Seller Party) shall furnish to Buyer for its own account a certified copy of the original official receipt evidencing payment thereof. 

(e) For purposes of this Section 7(e), the terms “United States” and “United States person” shall have the meanings
specified in Section 7701 of the Code. Each Buyer (including for avoidance of doubt any assignee, successor or participant) that either (i) is not organized under the laws of the United States, any State thereof, or the District of
Columbia or (ii) whose name does not include “Incorporated,” “Inc.,” “Corporation,” “Corp.,” “P.C.,” “insurance company,” or “assurance company” (a “Non-Exempt
Buyer”) shall deliver or cause to be delivered to Seller the following properly completed and duly executed documents: 

(i) in the case of a Non-Exempt Buyer that is not a United States person or is a disregarded entity for U.S. federal income tax
purposes owned by a person that is not a United States person, a complete and executed (x) U.S. Internal Revenue Service Form W-8BEN with Part II completed in which such Buyer claims the benefits of a tax treaty with the United States providing
for a zero or reduced rate of withholding (or any successor forms thereto), including all appropriate attachments or (y) a U.S. Internal Revenue Service Form W-8ECI (or any successor forms thereto); or 

(ii) in the case of a Non-Exempt Buyer that is an individual, (x) for non- United States persons, a complete and executed
U.S. Internal Revenue Service Form W-8BEN (or any successor forms thereto) and a certificate substantially in the form of Exhibit F (a “Tax Compliance Certificate”) or (y) for United States persons, a complete and
executed U.S. Internal Revenue Service Form W-9 (or any successor forms thereto); or 
 (iii) in the case of a Non-Exempt
Buyer that is organized under the laws of the United States, any State thereof, or the District of Columbia and that is not a disregarded entity for U.S. federal income tax purposes owned by a person that is not a United States person, a complete
and executed U.S. Internal Revenue Service Form W-9 (or any successor forms thereto); or 
 (iv) in the case of a Non-Exempt
Buyer that (x) is not organized under the laws of the United States, any State thereof, or the District of Columbia and (y) is treated as a corporation for U.S. federal income tax purposes, a complete and executed U.S. Internal Revenue
Service Form W-8BEN (or any successor forms thereto) and a Tax Compliance Certificate; or 
 (v) in the case of a Non-Exempt
Buyer that (A) is treated as a partnership or other non-corporate entity, and (B) is not organized under the laws of the United States, any State thereof, or the District of Columbia, (x)(i) a complete and executed U.S. Internal Revenue
Service Form W-8IMY (or any successor forms thereto) (including all required documents and attachments) and (ii) a Tax Compliance Certificate, and (y) in the case of a non-withholding foreign partnership or trust, without duplication, with
respect to each of its beneficial owners and the beneficial owners of such beneficial owners looking through chains of owners to individuals or entities that are treated as 

  
 31 

 
corporations for U.S. federal income tax purposes (all such owners, “Beneficial Tax Owners”), the documents that would be provided by each such Beneficial Tax Owner if such
Beneficial Tax Owner were Buyer; or 
 (vi) in the case of a Non-Exempt Buyer that is disregarded for U.S. federal income tax
purposes, the document that would be required by clause (i), (ii), (iii), (iv), (v), (vii) and/or this clause (vi) of this Section 7(e) with respect to its Beneficial Tax Owner if such Beneficial Tax Owner were Buyer; or 

(vii) in the case of a Non-Exempt Buyer that (A) is not a United States person and (B) is acting in the capacity of
an “intermediary” (as defined in U.S. Treasury Regulations), (x)(i) a U.S. Internal Revenue Service Form W-8IMY (or any successor form thereto) (including all required documents and attachments) and (ii) a Tax Compliance Certificate,
and (y) if the intermediary is a “non-qualified intermediary” (as defined in U.S. Treasury Regulations), from each person upon whose behalf the “non- qualified intermediary” is acting the documents that would be required by
clause (i), (ii), (iii), (iv), (v), (vi), and/or this clause (vii) with respect to each such person if each such person were Buyer; and 

(viii) if a payment made to a Buyer under this Agreement or any other Program Documents would be subject to U.S. federal
withholding Tax imposed by FATCA if such Buyer were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Buyer shall deliver to Seller
at the time or times prescribed by law and at such time or times reasonably requested by Seller such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation
reasonably requested by Seller as may be necessary for a Seller Party to comply with its obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (viii), “FATCA” shall
include any amendments made to FATCA after the date of this Agreement. 
 If Buyer provides a form pursuant to Section 7(e)(i)(x) and
the form provided by the Buyer at the time such Buyer first becomes a party to this Agreement or, with respect to a grant of a participation, the effective date thereof, indicates a United States interest withholding tax rate under the tax treaty in
excess of zero, withholding tax at such rate shall be treated as Taxes other than “Non-Excluded Taxes” (“Excluded Taxes”) and shall not qualify as Non- Excluded Taxes unless and until such Buyer provides the appropriate
form certifying that a lesser rate applies, whereupon withholding tax at such lesser rate shall be considered Excluded Taxes solely for the periods governed by such form. If, however, on the date a Person becomes an assignee, successor or
participant to this Agreement, the Buyer transferor was entitled to indemnification or additional amounts under this Section 7, then the Buyer assignee, successor or participant shall be entitled to indemnification or additional amounts to the
extent that the Buyer transferor was entitled to such indemnification or additional amounts for Non-Excluded Taxes, and the Buyer assignee, successor or participant shall be entitled to additional indemnification or additional amounts for any other
or additional Non-Excluded Taxes. 

  
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 (f) For any period with respect to which a Buyer has failed to provide Seller with the
appropriate form, certificate or other document described in Section 7(e) (other than if such failure is due to a change in any Requirement of Law, or in the interpretation or application thereof, occurring after the date on which a form,
certificate or other document originally was required to be provided), such Buyer shall not be entitled to indemnification or additional amounts under subsection (a) or (c) of this Section 7 with respect to Non-Excluded Taxes imposed
by the United States by reason of such failure; provided, however, that should a Buyer become subject to Non-Excluded Taxes because of its failure to deliver a form, certificate or other document required hereunder, Seller shall take such steps as
such Buyer shall reasonably request, to assist such Buyer in recovering such Non-Excluded Taxes. 
 (g) Without prejudice to the survival of
any other agreement of any Seller Party hereunder, the agreements and obligations of each Seller Party contained in this Section 7 shall survive the termination of this Agreement and the other Program Documents. Nothing contained in
Section 6 or this Section 7 shall require Buyer to complete, execute or make available any of its Tax returns or any other information that it deems to be confidential or proprietary, or whose completion, execution or submission would, in
Buyer’s judgment, materially prejudice Buyer’s legal or commercial position. 
  

	SECTION 8.	SECURITY INTEREST; BUYER’S APPOINTMENT AS ATTORNEY- IN-FACT 

 (a) Security
Interest. On each Purchase Date, Seller hereby sells, assigns and conveys all rights and interests in the Purchased Assets identified on the related Mortgage Loan Schedule and the Repurchase Assets related thereto. Although the parties intend
that all Transactions hereunder be sales and purchases and not loans (other than as set forth in Section 20 for U.S. tax purposes), in the event any such Transactions are deemed to be loans, and in any event Seller hereby pledges to Buyer as
security for the performance by Seller of its Obligations and hereby grants, assigns and pledges to Buyer a fully perfected first priority security interest in: 

(i) the Purchased Assets; 

(ii) the Records related to the Purchased Assets; 

(iii) the Program Documents (to the extent such Program Documents and Seller’s right thereunder relate to the Purchased
Assets); 
 (iv) any Property relating to any Purchased Asset or the related Mortgaged Property; 

(v) any Takeout Commitments relating to any Purchased Assets; 

(vi) any Closing Protection Letter, escrow letter or settlement agreement relating to any Purchased Asset; 

(vii) any Servicing Rights relating to any Purchased Asset; 

  
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 (viii) all insurance policies and insurance proceeds relating to any Purchased
Asset or the related Mortgaged Property, including but not limited to any payments or proceeds under any related primary insurance or hazard insurance; 

(ix) any Income relating to any Purchased Asset; (x) the Custodial Account; 

(xi) the Warehouse Accounts; (xii) the Operating Account; 

(xiii) any Hedge Agreements relating to any Purchased Asset; 

(xiv) any other contract rights, accounts (including any interest of Seller in escrow accounts) and any other payments, rights
to payment (including payments of interest or finance charges) and general intangibles to the extent that the foregoing relates to any Purchased Asset; 

(xv) any other assets relating to the Purchased Assets (including, without limitation, any other accounts) or any interest in
the Purchased Assets; 
 (xvi) accounts, chattel paper (including electronic chattel paper), goods (including inventory and
equipment and any accessions thereto), instruments (including promissory notes), documents, investment property, general intangibles (including payment intangibles and software) in each case related to the Purchased Assets; and 

(xvii) together with all accessions and additions thereto, substitutions and replacements therefor, and all products and
proceeds of the foregoing, in all instances, whether now owned or hereafter acquired, now existing or hereafter created and wherever located (collectively, the “Repurchase Assets”). 

(b) Servicing Rights. Seller acknowledges that it has sold the Purchased Assets to Buyer on a servicing released basis and it has no
rights to service the Purchased Assets. Without limiting the generality of the foregoing and in the event that Seller is deemed to retain any residual Servicing Rights, and for the avoidance of doubt, Seller grants, assigns and pledges to Buyer a
security interest in the Servicing Rights and proceeds related thereto and in all instances, whether now owned or hereafter acquired, now existing or hereafter created. The foregoing provision is intended to constitute a security agreement or other
arrangement or other credit enhancement related to the Agreement and Transactions hereunder as defined under Sections 101(47)(v) and 741(7)(xi) of the Bankruptcy Code. 

(c) Financing Statements. Seller hereby authorizes Buyer to file such financing statement or statements relating to the Repurchase
Assets and the Servicing Rights as Buyer, at its option, may deem appropriate. Seller shall pay the searching and filing costs for any financing statement or statements prepared or searched pursuant to this Agreement. 

  
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 (d) Buyer’s Appointment as Attorney in Fact. Seller agrees to execute a Power of
Attorney, the form of Exhibit E hereto (the “Power of Attorney”), to be delivered on the date hereof. 
  

	SECTION 9.	PAYMENT, TRANSFER; ACCOUNTS 

 (a) Payments and Transfers of Funds. Unless
otherwise mutually agreed in writing, all transfers of funds to be made by Seller hereunder shall be made in Dollars, in immediately available funds, without deduction, set off or counterclaim, to Buyer pursuant to the Wiring Instructions, on the
date on which such payment shall become due. 
 (b) Remittance of Purchase Price. On the Purchase Date for each Transaction,
ownership of the Purchased Assets shall be transferred to Buyer or its designee against the simultaneous transfer of the Purchase Price pursuant to Seller’s Wiring Instructions. With respect to the Purchased Assets being sold by Seller on a
Purchase Date, Seller hereby sells, transfers, conveys and assigns to Buyer or its designee without recourse, but subject to the terms of this Agreement, all the right, title and interest of Seller in and to the Purchased Assets together with all
right, title and interest in and to the proceeds of any related Repurchase Assets. 
 (c) Warehouse Accounts. Buyer or the
Buyer’s designee shall maintain for Seller an inbound account and a margin account (the “Warehouse Accounts”). The Warehouse Accounts shall be in the form of non-interest bearing book-entry accounts. Buyer shall have exclusive
withdrawal rights from the Warehouse Accounts. All amounts on deposit in the Warehouse Accounts shall be held as cash margin and collateral for all Obligations under this Agreement. Without limiting the generality of the foregoing, in the event that
a Margin Call or other Default exists, Buyer shall be entitled to use any or all of the amounts on deposit in any Warehouse Account to cure such circumstance or otherwise exercise remedies available to Buyer without prior notice to, or consent from,
Seller. Notwithstanding the foregoing, Seller acknowledges that (i) amounts in the Warehouse Accounts are not insured by the Federal Deposit Insurance Corporation, any governmental entity or otherwise and (ii) Buyer is not required to
segregate funds in the Warehouse Accounts from its own funds or from funds held for others. 
 (d) Operating Account. From time to
time, Seller may provide funds to Buyer for deposit to an interest bearing account (the “Operating Account”) in accordance with this Section 9. The Operating Account shall be a subaccount of an interest-bearing savings account
(the “Omnibus Account”) maintained by Buyer as agent for the benefit of Seller and other sellers of mortgage related assets with a bank determined by Buyer its sole discretion (the “Depository”). The Buyer shall
have non-exclusive withdrawal rights from the Operating Account. Seller acknowledges that Buyer acts as Seller’s agent for the limited purpose of placing funds with the Depository, and that funds held by Buyer as Seller’s agent are not a
deposit account or other liability of Buyer. Buyer shall maintain records of Seller’s interest in the funds maintained in the Omnibus Account. Withdrawals may be paid by wire transfer or any other means chosen by Buyer from time to time in its
sole discretion. In addition, Seller hereby authorizes Buyer, in its sole discretion, to withdraw funds from the Operating Account and remit such funds to the RESI Operating Account for any purpose permitted under and pursuant to the terms and
conditions of the RESI Facility; provided that (i) there are sufficient funds in the 

  
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Operating Account and a negative balance would not result therefrom; (ii) no Default or Event or Default shall have occurred or result therefrom and (ii) after such withdrawal and
unless otherwise approved by Buyer, amounts in the Operating Account are not less than the Minimum Balance Requirement. 
 (e)
Depository. Unless otherwise designated in writing by Buyer, the Depository shall be UBS AG, Stamford Branch. Funds on deposit at the UBS AG, Stamford Branch are not insured by the Federal Deposit Insurance Corporation, Securities Investor
Protection Corporation or any governmental agency of the United States, Switzerland or any other jurisdiction. The Omnibus Account and Operating Account are obligations of the UBS AG, Stamford Branch only, and are not obligations of UBS AG generally
or of any of its other affiliates. The payment of principal and interest on the Operating Account at the UBS AG, Stamford Branch is subject to the creditworthiness of UBS AG. The Operating Account is not a deposit account or other liability of
Buyer. In the unlikely event of the failure of the UBS AG, Stamford Branch, the Seller acknowledges that it will be a general unsecured creditor of UBS AG. 

(f) Buydown Amount. The Buydown Amount shall be held as unsegregated cash margin and collateral for all Obligations under this
Agreement. Without limiting the generality of the foregoing, in the event that a Margin Call or other Default exists, the Buyer shall be entitled to use any or all of the Buydown Amount and to withdraw such amount from the Operating Account in
Buyer’s sole discretion to cure such circumstance or otherwise exercise remedies available to the Buyer without prior notice to, or consent from, Seller. Regardless of whether a Margin Call or other Default exists, Buyer also may withdraw
interest paid to the Operating Account in its discretion from time to time, and without prior notice to or consent from the Seller, as a full or partial off-set to Seller’s obligation hereunder to pay the Price Differential. Within two
(2) Business Days’ receipt of written request from Seller, and provided no Margin Call or other Default exists, Buyer shall withdraw any portion of such Buydown Amount from the Operating Account and remit such amount back to Seller. 

(g) Operating Account Interest. Subject to Section 9(h), the Buydown Amount will accrue interest at the Operating Account Rate;
provided that in no event shall interest accrue on (i) the Buydown Amount if (x) on any day the Buydown Amount is less than the Minimum Balance Requirement or (y) the average balance of funds in the Operating Account during any
calendar month is less than the Minimum Balance Requirement and (ii) that portion of the Buydown Amount that is in excess of the lesser of (a) the aggregate outstanding Purchase Price of all Transactions during any calendar month or
(b) the Minimum Balance Requirement. Unless otherwise set forth in the Pricing Letter: 
 (i) The Depository calculates
interest accrual daily on the basis of funds credited to the Operating Account, but credits interest monthly. As a result, interest will not begin to compound until credited in the month following its accrual. The Depository credits interest to the
Operating Account in the month following its accrual on a schedule set by Depository from time to time, which may result in a delay in interest crediting as late as the twentieth (20th) day of the calendar month. 

  
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 (ii) The Depository accrues interest on funds deposited to the Operating Account
beginning on the day on which such funds are received in the Operating Account, and through, but not including, the day on which funds are withdrawn from the Operating Account. 

(iii) Interest paid on funds in the Operating Account at the Operating Account Rate shall be credited to the Operating Account
unless otherwise withdrawn by Buyer at the direction of Seller as provided herein. 
 (h) Maintenance of Balances. If Seller shall
fail to maintain with Buyer during any calendar month deposits in the Operating Account in the average, after charges to compensate Buyer for services rendered to Seller, equal to at least the Minimum Balance Requirement, Seller shall pay to Buyer a
fee equal to the amount of such deficit multiplied by the Maintenance Fee Rate. 
 (i) Fees. Seller shall pay in immediately
available funds to Buyer all fees, including without limitation, the Warehouse Fees, as and when required hereunder. All such payments shall be made in Dollars, in immediately available funds, without deduction, set-off or counterclaim, to Buyer at
such account designated by Buyer. Without limiting the generality of the foregoing or any other provision of this Agreement, Buyer may withdraw and retain from the Warehouse Accounts and Operating Account any Warehouse Fees due and owing to Buyer.

  

	SECTION 10.	 REPRESENTATIONS 

 Each Seller Party, jointly and severally, represents and warrants
to Buyer that as of the Purchase Date for any Purchased Assets, as of the date of this Agreement and any Transaction hereunder and at all times while the Program Documents are in full force and effect and/or any Transaction hereunder is outstanding:

 (a) Acting as Principal. Seller will engage in such Transactions as principal (or, if agreed in writing in advance of any
Transaction by the other party hereto, as agent for a disclosed principal). 
 (b) No Broker. Seller has not dealt with any broker,
investment banker, agent, or other person, except for Buyer, who may be entitled to any commission or compensation in connection with the sale of Purchased Assets pursuant to this Agreement. 

(c) Financial Statements. The Financial Reporting Party has heretofore furnished to Buyer a copy, certified by its president, chief
financial officer or other officer acceptable to Buyer, of its (a) Financial Statements for the Financial Reporting Party for the fiscal year ended the Annual Financial Statement Date, setting forth in each case in comparative form the figures
for the previous year, with an unqualified opinion thereon of an Approved CPA and (b) Financial Statements for the Financial Reporting Party for such monthly period(s), of the Financial Reporting Party up until Monthly Financial Statement Date,
setting forth in each case in comparative form the figures for the previous month and year-to-date. All such Financial Statements are complete and correct and fairly present, in all material respects, the consolidated and consolidating financial
condition of the Financial Reporting Party and the consolidated and consolidating results of its operations as at such dates and for such monthly periods, all in 

  
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accordance with GAAP. Since the Annual Financial Statement Date, there has been no material adverse change in the consolidated business, operations or financial condition of the Financial
Reporting Party taken as a whole from that set forth in said Financial Statements nor is any Seller Party aware of any state of facts which (without notice or the lapse of time) would or could result in any such material adverse change or could have
a Material Adverse Effect. The Financial Reporting Party does not have, on the Annual Financial Statement Date, any liabilities, direct or indirect, fixed or contingent, matured or unmatured, known or unknown, or liabilities for taxes, long-term
leases or unusual forward or long-term commitments not disclosed by, or reserved against in, said balance sheet and related statements, and at the present time there are no material unrealized or anticipated losses from any loans, advances or other
commitments of the Financial Reporting Party except as heretofore disclosed to Buyer in writing. 
 (d) Organization, Etc. Each
Seller Party is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization. Each Seller Party (a) has all requisite corporate or other 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, except where the lack of such licenses, authorizations, consents and approvals would not be reasonably likely to have a
Material Adverse Effect; (b) 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, except where failure so to qualify would not be
reasonably likely (either individually or in the aggregate) to have a Material Adverse Effect; and (c) has full power and authority to execute, deliver and perform its obligations under the Program Documents. 

(e) Authorization, Compliance, Approvals. The execution and delivery of, and the performance by each Seller Party of its obligations
under, the Program Documents to which it is a party (a) are within Seller Party’s powers, (b) have been duly authorized by all requisite action, (c) do not violate any provision of applicable law, rule or regulation, or any
order, writ, injunction or decree of any court or other Governmental Authority, or its organizational documents, (d) do not violate any indenture, agreement, document or instrument to which Seller Party or any of its Subsidiaries is a party, or
by which any of them or any of their properties, any of the Repurchase Assets is bound or to which any of them is subject and (e) are not in conflict with, do not result in a breach of, or constitute (with due notice or lapse of time or both) a
default under, or except as may be provided by any Program Document, result in the creation or imposition of any Lien upon any of the property or assets of Seller Party or any of its Subsidiaries pursuant to, any such indenture, agreement, document
or instrument. Seller Party is not required to obtain any consent, approval or authorization from, or to file any declaration or statement with, any Governmental Authority in connection with or as a condition to the consummation of the Transactions
contemplated herein and the execution, delivery or performance of the Program Documents to which it is a party. 
 (f) Litigation.
There are no actions, suits, arbitrations, investigations (including, without limitation, any of the foregoing which are pending or threatened) or, to the knowledge of the Seller, other legal or arbitrable proceedings affecting Seller Party or any
of its Subsidiaries or affecting any of the Repurchase Assets or any of the other properties of Seller Party before any Governmental Authority which (i) questions or challenges the validity or enforceability of the Program Documents or any
action to be taken in connection with the 

  
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transactions contemplated hereby, (ii) except as disclosed to Buyer, makes a claim or claims in an aggregate amount greater than the Litigation Threshold, (iii) individually or in the
aggregate, if adversely determined, would be reasonably likely to have a Material Adverse Effect, (iv) requires filing with the SEC in accordance with its regulations or (v) relates to any violation of the Home Ownership and Equity
Protection Act or any state, city or district high cost home mortgage or predatory lending law. 
 (g) Purchased
Assets. 
 (i) Seller has not assigned, pledged, or otherwise conveyed or encumbered any Purchased Asset to any other
Person, and immediately prior to the sale of such Purchased Asset to Buyer, Seller was the sole owner of such Purchased Asset and had good and marketable title thereto, free and clear of all Liens, in each case except for Liens to be released
simultaneously with the sale to Buyer hereunder. 
 (ii) The provisions of this Agreement are effective to either constitute
a sale of Repurchase Assets to Buyer or to create in favor of Buyer a valid first priority security interest in all right, title and interest of Seller in, to and under the Repurchase Assets. 

(h) Proper Names; Chief Executive Office/Jurisdiction of Organization. Seller does not operate in any jurisdiction under a trade name,
division name or name other than those names previously disclosed in writing by Seller to Buyer. On the Effective Date, Seller’s chief executive office is, and has been, located as specified in Section 23 hereto. Seller’s jurisdiction
of organization, type of organization and organizational identification number is as set forth in the Pricing Letter. 
 (i) Location of
Books and Records. The location where Seller keeps its books and records, including all computer tapes, computer systems and storage media and records related to the Repurchase Assets is its chief executive office. 

(j) Enforceability. This Agreement and all of the other Program Documents executed and delivered by each Seller Party in connection
herewith are legal, valid and binding obligations of Seller Party and are enforceable against Seller Party in accordance with their terms except as such enforceability may be limited by (i) the effect of any applicable bankruptcy, insolvency,
reorganization, moratorium or similar Requirement of Law affecting creditors’ rights generally and (ii) general principles of equity. 

(k) Ability to Perform. Seller Party does not believe, nor does it have any reason or cause to believe, that it cannot perform each and
every covenant contained in the Program Documents to which it is a party on its part to be performed. 
 (l) No Default. No Default
or Event of Default has occurred and is continuing. 
 (m) No Adverse Selection. Seller has not selected the Purchased Assets in a
manner so as to adversely affect Buyer’s interests. 

  
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 (n) Scheduled Indebtedness. All Indebtedness which is presently in effect and/or
outstanding that has a maximum borrowing capacity in excess of $1,000,000 listed on Schedule 3 hereto (the “Scheduled Indebtedness”) and no defaults or events of default exist thereunder. The financial covenants hereunder are
at least equal to those Seller makes under each of its Scheduled Indebtedness. 
 (o) Accurate and Complete Disclosure. The
information, reports, Financial Statements, exhibits and schedules furnished in writing by or on behalf of each Seller Party to Buyer in connection with the negotiation, preparation or delivery of this Agreement or performance hereof and the other
Program Documents or included herein or therein or delivered pursuant hereto or thereto, when taken as a whole, do not contain any untrue statement of material fact or omit to state any material fact necessary to make the statements herein or
therein, in light of the circumstances under which they were made, not misleading. All written information furnished after the date hereof by or on behalf of each Seller Party to Buyer in connection with this Agreement and the other Program
Documents and the transactions contemplated hereby and thereby including without limitation, the information set forth in the related Mortgage Loan Schedule, will be true, complete and accurate in every material respect, or (in the case of
projections) based on reasonable estimates, on the date as of which such information is stated or certified. There is no fact known to Seller, after due inquiry, that could reasonably be expected to have a Material Adverse Effect that has not been
disclosed herein, in the other Program Documents or in a report, financial statement, exhibit, schedule, disclosure letter or other writing furnished to Buyer for use in connection with the transactions contemplated hereby or thereby. 

(p) Margin Regulations. The use of all funds acquired by Seller under this Agreement will not conflict with or contravene any of
Regulations T, U or X promulgated by the Board of Governors of the Federal Reserve System as the same may from time to time be amended, supplemented or otherwise modified. 

(q) Investment Company. Neither Seller Party nor any of its Subsidiaries is an “investment company” or a company
“controlled” by an “investment company” within the meaning of the Investment Company Act of 1940, as amended. 
 (r)
Solvency. As of the date hereof and immediately after giving effect to each Transaction, the fair value of the assets of Seller is greater than the fair value of the liabilities (including, without limitation, contingent liabilities if and to
the extent required to be recorded as a liability on the Financial Statements of Seller in accordance with GAAP) of Seller and Seller is solvent and, after giving effect to the transactions contemplated by this Agreement and the other Program
Documents, will not be rendered insolvent or left with an unreasonably small amount of capital with which to conduct its business and perform its obligations. Seller does not intend to incur, nor does it believe that it has incurred, debts beyond
its ability to pay such debts as they mature. Seller Party is not contemplating the commencement of an insolvency, bankruptcy, liquidation, or consolidation proceeding or the appointment of a receiver, liquidator, conservator, trustee, or similar
official in respect of itself or any of its property. 

  
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 (s) ERISA. From the fifth fiscal year preceding the current year through the termination
of this Agreement (the “Reporting Period”), with respect to any plan within the meaning of Section 3(3) of ERISA that is sponsored or maintained by Seller Party or any ERISA Affiliate, or to which Seller Party or any ERISA
Affiliate contributes or has contributed (each, a “Plan”), the benefits under which Plan are guaranteed, in whole or in part, by the PBGC (i) Seller Party and each ERISA Affiliate has funded and will continue to fund each Plan
as required by the provisions of Section 412 of the Code; (ii) Seller Party and each ERISA Affiliate has caused and will continue to cause (directly or indirectly) each Plan to pay all benefits when due; (iii) neither Seller Party nor
any ERISA Affiliate has been or is obligated to contribute to any multiemployer plan as defined in Section 3(37) of ERISA; (iv) Seller Party (on behalf of ERISA Affiliate, if applicable) will provide to Buyer (A) no later than the
date of submission to the PBGC, a copy of any notice of a Plan’s termination (B) no later than the date of submission to the Department of Labor or to the Internal Revenue Service, as the case may be, a copy of any request for waiver from
the funding standards or extension of the amortization periods required by Section 412 of the Code and (C) notice of any Reportable Event as such term is defined in ERISA (and has, prior to the date of this Agreement, provided to Buyer a
copy of any document described in clauses (iv)(A), (B) or (C) relating to any date in the Reporting Period prior to the date of this Agreement); and (v) Seller Party and each ERISA Affiliate will subscribe from the date of this
Agreement to the termination of this Agreement to any contingent liability insurance provided by the PBGC to protect against employer liability upon termination of a guaranteed pension plan, if available to Seller Party or ERISA Affiliate, as
applicable. 
 (t) Taxes. 

(i) Seller Party and its Subsidiaries have timely filed all income, franchise and other material Tax returns that are required
to be filed by them and have timely paid all Taxes due and payable by them or imposed with respect to any of their property and all other material fees and other charges imposed on them or any of their property by any Governmental Authority, except
for any such Taxes the amount or validity of which is currently being contested in good faith by appropriate proceedings diligently conducted and with respect to which adequate reserves have been provided in accordance with GAAP. 

(ii) There are no Liens for Taxes with respect to any assets of any Seller Party or its Subsidiaries, and no claim is being
asserted with respect to Taxes of any Seller Party or its Subsidiaries, except for statutory Liens for Taxes not yet due and payable or for Taxes the amount or validity of which is currently being contested in good faith by appropriate proceedings
diligently conducted and, in each case, with respect to which adequate reserves have been provided in accordance with GAAP. 

(iii) Seller is and has always been treated as a limited liability company for U.S. federal income tax purposes. 

(u) No Reliance. Seller Party has made its own independent decisions to enter into the Program Documents and each Transaction and as to
whether such Transaction is appropriate and proper for it based upon its own judgment and upon advice from such advisors (including without limitation, legal counsel and accountants) as it has deemed necessary. Seller Party is not relying upon any
advice from Buyer as to any aspect of the Transactions, including without limitation, the legal, accounting or tax treatment of such Transactions. 

  
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 (v) Plan Assets. Seller Party is not an employee benefit plan as defined in Section 3
of Title I of ERISA, or a plan described in Section 4975(e)(1) of the Code, and the Purchased Assets are not “plan assets” within the meaning of 29 CFR §2510.3-101, as modified by Section 3(42) of ERISA, in Seller
Party’s hands and transactions by or with Seller Party are not subject to any foreign state or local statute regulating investments of, or fiduciary obligations with respect to, governmental plans within the meaning of Section 3(32) of
ERISA or church plans within the meaning of Section 3(33) of ERISA. 
 (w) Agency Approvals. To the extent previously approved,
Seller is approved by Fannie Mae as an approved lender and Freddie Mac as an approved seller/servicer, and, to the extent necessary, approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing
Act. In each such case, Seller is in good standing, with no event having occurred or Seller having any reason whatsoever to believe or suspect will occur, including, without limitation, a change in insurance coverage which would either make Seller
unable to comply with the eligibility requirements for maintaining all such applicable approvals or require notification to the relevant Agency. Seller has adequate financial standing, servicing facilities, procedures and experienced personnel
necessary for the sound servicing of mortgage loans of the same types as may from time to time constitute Mortgage Loans and in accordance with Accepted Servicing Practices. 

(x) Anti-Money Laundering Laws. Seller Party has complied with all applicable anti-money laundering laws and regulations, including
without limitation the USA Patriot Act of 2001 (collectively, the “Anti-Money Laundering Laws”); Seller Party has established an anti-money laundering compliance program as required by the Anti-Money Laundering Laws, has conducted
the requisite due diligence in connection with the origination of each Mortgage Loan for purposes of the Anti-Money Laundering Laws, including with respect to the legitimacy of the applicable Mortgagor and the origin of the assets used by the said
Mortgagor to purchase the property in question, and maintains, and will maintain, sufficient information to identify the applicable Mortgagor for purposes of the Anti-Money Laundering Laws. 

(y) No Sanctions. No Seller Party nor any of their Affiliates, officers, directors, partners or members, (i) is an entity or
person (or to the Seller’s knowledge, owned or controlled by an entity or person) that (A) is currently subject to any economic sanctions or trade embargoes administered or imposed by the Office of Foreign Assets Control of the U.S.
Department of the Treasury, the U.S. Department of State, the United Nations Security Council, the European Union, Her Majesty’s Treasury or any other relevant authority (collectively, “Sanctions”) or (B) resides, is
organized or chartered, or has a place of business in a country or territory that is currently the subject of Sanctions and (ii) will directly or indirectly use the proceeds of any Transactions contemplated hereunder, or lend, contribute or
otherwise make available such proceeds to or for the benefit of any person or entity, for the purpose of financing or supporting, directly or indirectly, the activities of any person or entity that is currently the subject of Sanctions. 

  
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 (z) Takeout Commitments. With respect to any Takeout Commitment with an Agency, if
applicable, (1) with respect to the wire transfer instructions as set forth in Freddie Mac Form 987 (Wire Transfer Authorization for a Cash Warehouse Delivery) such wire transfer instructions are identical to Buyer’s wire instructions or
the Buyer has approved such wire transfer instructions in writing in its sole discretion, or (2) the Payee Number set forth on Fannie Mae Form 1068 (Fixed-Rate, Graduated-Payment, or Growing-Equity Mortgage Loan Schedule) or Fannie Mae Form
1069 (Adjustable-Rate Mortgage Loan Schedule), as applicable, is identical to the Payee Number that has been identified by Buyer in writing as Buyer’s Payee Number or the Buyer has approved the related Payee Number in writing in its sole
discretion. With respect to any Takeout Commitment with an Agency for which the Agency is swapping the related Purchased Mortgage Loans for a mortgage backed security, the applicable Agency documents list Buyer or its designee as sole subscriber.

  

	SECTION 11.	 COVENANTS 

 Each Seller Party, jointly and severally, covenants to Buyer that as of
the Purchase Date for any Purchased Asset, as of the date of this Agreement and any Transaction hereunder and at all times while the Program Documents are in full force and effect and/or any Transaction thereunder is outstanding, as follows: 

(a) Preservation of Existence; Compliance with Law. Seller Party shall (i) preserve and maintain its legal existence and all of
its material rights, privileges, licenses and franchises necessary for the operation of its business; (ii) comply with any applicable Requirement of Law, rules, regulations and orders, whether now in effect or hereafter enacted or promulgated
by any applicable Governmental Authority (including, without limitation, all environmental laws); (iii) maintain all licenses, permits or other approvals necessary for Seller Party to conduct its business and to perform its obligations under
the Program Documents, and shall conduct its business strictly in accordance with any applicable Requirement of Law; and (iv) keep adequate records and books of account, in which complete entries will be made in accordance with GAAP
consistently applied. 
 (b) Taxes. 

(i) Seller Party and its Subsidiaries shall timely file all income, franchise and other material Tax returns that are required
to be filed by them and shall timely pay all Taxes due and payable by them or imposed with respect to any of their property and all other material fees and other charges imposed on them or any of their property by any Governmental Authority, except
for any such Taxes the amount or validity of which is currently being contested in good faith by appropriate proceedings diligently conducted and with respect to which adequate reserves have been provided in accordance with GAAP. 

(ii) Seller will be treated as a limited liability company for U.S. federal income tax purposes. 

  
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 (c) Notice of Proceedings or Adverse Change. Seller Party shall give notice to Buyer or
cause notice to be given to Buyer: 
 (i) immediately after a Responsible Officer of Seller Party has any knowledge of: 

(A) the occurrence of any Default or Event of Default; 

(B) any (a) default or event of default under any Indebtedness of Seller Party or (b) litigation, investigation,
regulatory action or proceeding that is pending or, to the knowledge of the Seller, threatened by or against Seller Party in any federal or state court or before any Governmental Authority which, if not cured or if adversely determined, would
reasonably be expected to have a Material Adverse Effect or constitute a Default or Event of Default, and (c) any Material Adverse Effect with respect to Seller Party; 

(C) any litigation or proceeding that is pending or, to the knowledge of the Seller, threatened (a) against Seller Party
in which the amount involved exceeds the Litigation Threshold and is not covered by insurance, in which injunctive or similar relief is sought, or which, would reasonably be expected to have a Material Adverse Effect, (b) in connection with any
of the Repurchase Assets, which, if adversely determined, would reasonably be expected to have a Material Adverse Effect and (c) that questions or challenges compliance of any Mortgage Loan with the Ability to Repay Rule or QM Rule; 

(D) as soon as reasonably possible, notice of any of the following events: (A) a change in the insurance coverage of
Seller Party, with a copy of evidence of same attached; (B) any material change in accounting policies or financial reporting practices of Seller Party; (C) promptly upon receipt of notice or knowledge of any Lien or security interest
(other than security interests created hereby or under any other Program Document) on, or claim asserted against, any of the Repurchase Assets; (D) the termination or nonrenewal of any debt facilities of Seller Party which have a maximum
principal amount (or equivalent) available of more than the Facility Termination Threshold; (E) any Change in Control or any change in direct or indirect ownership or controlling interest of any Seller Party’s direct or indirect owner; and
(F) any other event, circumstance or condition that has resulted, or has a possibility of resulting, in a Material Adverse Effect; and 

(ii) Promptly, but no later than two (2) Business Days after Seller receives notice of the same, (A) any Mortgage
Loan submitted for inclusion into an Agency Security and rejected by that Agency for inclusion in such Agency Security or (B) any Mortgage Loan submitted to an Approved Investor (whole loan or securitization) and rejected for purchase by such
Approved Investor; or (C) the termination or suspension of approval of Seller to sell any Mortgage Loans to any Approved Investor. 

(d) Financial Reporting. Seller Party shall maintain a system of accounting established and administered in accordance with GAAP
consistently applied, and furnish to Buyer, with a certification by the president or chief financial officer of the Financial Reporting Party (the following hereinafter referred to as the “Financial Statements”): 

  
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 (i) Within ninety (90) days after the close of each fiscal year, audited
consolidated and consolidating balance sheets and the related consolidated and consolidating statements of income and retained earnings and of cash flows as at the end of such year for the Financial Reporting Party for the fiscal year, setting forth
in each case in comparative form the figures for the previous year, with an unqualified opinion thereon of an Approved CPA; 

(ii) Reserved; 

(iii) Within thirty (30) days after the end of each month, the consolidated and consolidating balance sheets and the
related consolidated and consolidating statements of income, and as may be reasonably requested by Buyer, the statement of retained earnings and the statement of cash flows for the Financial Reporting Party for such monthly period(s), of the
Financial Reporting Party; 
 (iv) Simultaneously with the furnishing of each of the Financial Statements to be delivered
pursuant to subsections (i) and (iii) above, a certificate in the form of Exhibit A to the Pricing Letter and certified by the president or chief financial officer of the Financial Reporting Party, which includes detailed reporting
to the materials set forth therein including without limitation, any request for repurchase of or indemnification for a Mortgage Loan purchased by a third party investor and the valuation of Seller’s Capitalized Mortgage Servicing Rights by any
third-party evaluator; 
 (v) If applicable and at the request of Buyer, and provided such documents are not available on the
SEC’s EDGAR website, copies of any 10-Ks, 10-Qs, registration statements and other “corporate finance” SEC filings (other than 8-Ks) by Seller Party within five (5) Business Days of their filing with the SEC; provided,
that, Seller Party or any Affiliate will provide Buyer with a copy of the annual 10-K filed with the SEC by Seller Party or its Affiliates, no later than 90 days after the end of the year unless otherwise agreed to by Buyer in its sole discretion;
and 
 (vi) Promptly, from time to time, such other information regarding the business affairs, operations and financial
condition of Seller Party as Buyer may reasonably request or as set forth in the certificate delivered pursuant to Section 11(d)(iv) above. 

(e) Further Assurances. Seller Party shall execute and deliver to Buyer all further documents, financing statements, agreements and
instruments, and take all further actions that may be required under any applicable Requirement of Law, or that Buyer may reasonably request, in order to effectuate the transactions contemplated by this Agreement and the Program Documents or,
without limiting any of the foregoing, to grant, preserve, protect and perfect the validity and first-priority of the security interests created or intended to be created hereby. 

(f) True and Correct Information. All information, reports, exhibits, schedules, Financial Statements or certificates of Seller Party
or any of its Affiliates thereof or any of their officers furnished to Buyer hereunder and during Buyer’s diligence of Seller Party will be true and complete and will not omit to disclose any material facts necessary to make the

  
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statements herein or therein, in light of the circumstances in which they are made, not misleading. All required Financial Statements, information and reports delivered by Seller Party to Buyer
pursuant to this Agreement shall be prepared in accordance with GAAP, or as applicable, to SEC filings, the appropriate SEC accounting requirements. 

(g) ERISA Events. Seller Party shall not and shall not permit any ERISA Affiliate to be in violation of any provision of
Section 10(s) of this Agreement and Seller Party shall not be in violation of Section 10(v) of this Agreement. 
 (h) Financial
Condition Covenants. The applicable Seller Parties shall comply with the Financial Condition Covenants set forth in the Pricing Letter. 

(i) Hedging. Seller shall hedge all Purchased Assets in accordance with Seller’s hedging policies. Unless otherwise requested by
Buyer, Seller shall deliver to Buyer once per week, a hedging report, in a form reasonably satisfactory to Buyer. Seller shall (i) review the hedging policies periodically to confirm that they are being complied with in all material respects
and are adequate to meet Seller’s business objectives and (ii) in the event Seller makes any amendment or modification to the hedging policies, Seller shall within 10 days of such amendment or modification, deliver to Buyer a complete copy
of the amended or modified hedging policies. Additionally, Buyer may in its reasonable discretion request a current copy of Seller’s hedging policies at any time. 

(j) Servicer Approval. Seller shall not cause the Mortgage Loans to be serviced by any servicer other than a servicer expressly
approved in writing by Buyer, which approval shall be deemed granted by Buyer with respect to Seller with the execution of this Agreement. 

(k) Insurance. Seller shall maintain Fidelity Insurance and errors and omissions insurance in respect of its officers, employees and
agents in such amounts acceptable to Buyer, which shall include a provision that such policies cannot be terminated or materially modified without at least 30 days’ prior notice to Buyer. Seller shall notify Buyer of any material change in the
terms of any such insurance. Seller shall maintain endorsements for theft of warehouse lender money and collateral, naming Buyer as a loss payee under its Fidelity Insurance and as a direct loss payee/right of action under its errors and omissions
insurance policy. 
 (l) Books and Records. Seller shall, to the extent practicable, maintain and implement administrative and
operating procedures (including, without limitation, an ability to recreate records evidencing the Repurchase Assets in the event of the destruction of the originals thereof), and keep and maintain or obtain, as and when required, all documents,
books, records and other information reasonably necessary or advisable for the collection of all Repurchase Assets. 
 (m) Illegal
Activities. Seller Party shall not engage in any conduct or activity that could subject its assets to forfeiture or seizure. 
 (n)
Material Change in Business. Seller Party shall not make any material change in the nature of its business as carried on at the date hereof. 

  
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 (o) Limitation on Dividends and Distributions. Following the occurrence and during the
continuance of an Event of Default, Seller shall not make any payment on account of, or set apart assets for, a sinking or other analogous fund for the purchase, redemption, defeasance, retirement or other acquisition of any equity interest of
Seller, whether now or hereafter outstanding, or make any other distribution or dividend in respect of any of the foregoing or to any shareholder or equity owner of Seller, either directly or indirectly, whether in cash or property or in obligations
of Seller or any of Seller’s consolidated Subsidiaries. 
 (p) Scheduled Indebtedness. Without the prior written consent of
Buyer (which consent shall not be unreasonably withheld), Financial Reporting Party shall not incur any additional material Indebtedness (other than (i) the Scheduled Indebtedness listed under the definition thereof, (ii) usual and
customary accounts payable for a mortgage company) and (iii) a Warehouse Facility. 
 (q) Disposition of Assets; Liens. Seller
shall not create, incur, assume or suffer to exist any mortgage, pledge, Lien, charge or other encumbrance of any nature whatsoever on any of the Repurchase Assets, whether real, personal or mixed, now or hereafter owned, other than the Liens
created in connection with the transactions contemplated by this Agreement; nor shall Seller cause any of the Purchased Assets to be sold, pledged, assigned or transferred except as permitted hereunder. 

(r) Transactions with Affiliates. Seller Party shall not enter into any transaction, including, without limitation, the purchase, sale,
lease or exchange of property or assets or the rendering or accepting of any service with any Affiliate unless such transaction is (i) not otherwise prohibited in this Agreement, (ii) in the ordinary course of Seller Party’s business
and (iii) upon fair and reasonable terms no less favorable to Seller Party, as the case may be, than it would obtain in a comparable arm’s length transaction with a Person which is not an Affiliate. 

(s) Organization. Seller Party shall not (i) cause or permit any change to be made in its name, organizational identification
number, identity or corporate structure, each as described in Section 10(h) or (ii) change its jurisdiction of organization, unless it shall have provided Buyer thirty (30) days’ prior written notice of such change and shall have
first taken all action required by Buyer for the purpose of perfecting or protecting the lien and security interest of Buyer established hereunder. 

(t) Mortgage Loan Reports. Upon request of Buyer, Seller will furnish to Buyer monthly electronic Mortgage Loan performance data,
including, without limitation, a Mortgage Loan Schedule, delinquency reports, pool analytic reports and static pool reports (i.e., delinquency, foreclosure and net charge off reports) and monthly stratification reports summarizing the
characteristics of the Mortgage Loans. 
 (u) Confidentiality. Each Seller Party shall comply with all applicable local, state and
federal laws, including, without limitation, all privacy and data protection law, rules and regulations that are applicable to the Purchased Assets and/or any applicable terms of this Agreement (the “Confidential Information”).
Seller Party understands that the Confidential Information may contain “nonpublic personal information”, as that term is defined in Section 

  
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509(4) of the Gramm-Leach-Bliley Act (the “GLB Act”), and Seller Party agrees to maintain such nonpublic personal information that it receives hereunder in accordance with the
GLB Act and other applicable federal and state privacy laws. Seller Party shall implement such physical and other security measures as shall be necessary to (a) ensure the security and confidentiality of the “nonpublic personal
information” of the “customers” and “consumers” (as those terms are defined in the GLB Act) of Buyer or any Affiliate of Buyer which Buyer holds (b) protect against any threats or hazards to the security and integrity
of such nonpublic personal information, and (c) protect against any unauthorized access to or use of such nonpublic personal information. Seller Party shall, at a minimum establish and maintain such data security program as is necessary to meet
the objectives of the Interagency Guidelines Establishing Standards for Safeguarding Customer Information as set forth in the Code of Federal Regulations at 12 C.F.R. Parts 30, 208, 211, 225, 263, 308, 364, 568 and 570. Upon request, Seller Party
will provide evidence reasonably satisfactory to allow Buyer to confirm that Seller Party has satisfied its obligations as required under this Section 11. Without limitation, this may include Buyer’s review of audits, summaries of test
results, and other equivalent evaluations of Seller Party. Seller Party shall notify Buyer immediately following discovery of any breach or compromise of the security, confidentiality, or integrity of nonpublic personal information of the customers
and consumers of Buyer or any Affiliate of Buyer provided directly to Seller Party by Buyer or such Affiliate. Seller Party shall provide such notice to Buyer by personal delivery, by facsimile with confirmation of receipt, or by overnight courier
with confirmation of receipt to the applicable requesting individual. 
 (v) Approved Underwriting Guidelines. Seller shall not
submit to Buyer for purchase, and Buyer shall have no obligation to purchase, any Mortgage Loan underwritten in accordance with underwriting guidelines, including amendments to Approved Underwriting Guidelines not expressly approved by Buyer, other
than Approved Underwriting Guidelines. 
 (w) Agency Approvals; Servicing. To the extent previously approved, Seller shall maintain
its status with Fannie Mae and Ginnie Mae as an approved lender and Freddie Mac as an approved seller/servicer, in each case in good standing (each such approval, an “Agency Approval”). Should Seller, for any reason, cease to
possess all such applicable Agency Approvals to the extent necessary, should Seller experience any change in its delegated underwriting authority from any Agency, or should notification of an adverse occurrence to the relevant Agency or HUD, FHA, VA
or RD be required, Seller shall so notify Buyer immediately in writing. Notwithstanding the preceding sentence and to the extent previously approved, Seller shall take all necessary action to maintain all of its applicable Agency Approvals at all
times during the term of this Agreement and each outstanding Transaction. 
 (x) Sharing of Information. Upon prior notice to Seller
Party (provided that such prior notice shall not be required upon a Default or Event of Default), Seller Party hereby allows and consents to Buyer, subject to applicable law, exchanging information related to Seller Party, its credit, its mortgage
loan originations and the Transactions hereunder with third party lenders, facility providers and Approved Investors (collectively, “Third Party Participants”), and Seller Party shall permit each Third Party Participant to share
such similar information with Buyer; provided, in each case, such sharing shall be for the limited purpose of protecting the Buyer’s interests hereunder. 

  
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 (y) Status. Until such time Seller provides to Buyer written evidence, which shall be
satisfactory to Buyer in its sole discretion, that Seller has no similar provision as this Section 11(y) under any other Warehouse Facility, each Seller Party agrees that should any Seller Party or any Affiliate thereof enter into a Warehouse
Facility with any Person other than Buyer or an Affiliate of Buyer which by its terms provides more favorable terms to counterparty with respect to any guaranties or financial covenants, including without limitation covenants covering the same or
similar subject matter referred to in Section 11(h) hereof (a “More Favorable Agreement”), Seller shall immediately notify Buyer of such more favorable terms contained in such More Favorable Agreement, identifying such more
favorable terms with reasonable specificity. 
 (z) Takeout Payments. With respect to each Purchased Asset subject to a Takeout
Commitment, the Seller shall arrange that all payments under the related Takeout Commitment shall be paid directly to the Buyer pursuant to Section 3(e) hereof. 

(aa) Issuance of Agency Securities. If Purchased Mortgage Loans are pooled for the purpose of backing an Agency Security, Seller shall
promptly deliver to the applicable Agency any and all documents necessary to enable such Agency to make Delivery to Buyer or its designee of an Agency Security backed by the related Purchased Mortgage Loans. Seller shall not revoke such instructions
to an Agency. 
 (bb) QM/ATR Reporting. Seller shall deliver to Buyer, with reasonable promptness upon Buyer’s request, copies
of all documentation in connection with the underwriting and origination of any Purchased Mortgage Loan that evidences compliance with the Ability to Repay Rule and the QM Rule. 

(cc) Trade Assignment. Upon Custodian certifying a Purchased Mortgage Loan to an Agency for the issuance of an Agency Security backed
by such Purchased Mortgage Loan and which Buyer is purchasing such Agency Security hereunder, Seller shall deliver to Buyer a Trade Assignment executed by Seller with respect to such Agency Security. 

(dd) Use of Proceeds. Seller shall not use the proceeds of any Transaction hereunder to (i) pay any obligation of or amounts due
to any Affiliate of Buyer, (ii) purchase any assets from or any assets financed by any Affiliate of Buyer; or (iii) purchase any securities issued by any Affiliate of Buyer. 

 

	SECTION 12.	 EVENTS OF DEFAULT 

 If any of the following events (each an “Event of
Default”) occur, Buyer shall have the rights set forth in Section 13, as applicable: 
 (a) Payment Default. Seller
Party shall default in the payment of (i) any amount payable by it hereunder or under any other Program Document, (ii) Expenses (and such failure to pay Expenses shall continue for more than 30 calendar days) or (iii) any other
Obligations, when the same shall become due and payable, whether at the due date thereof, or by acceleration or otherwise; or 

  
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 (b) Representation and Warranty Breach. Any representation, warranty or certification made
or deemed made herein or in any other Program Document by a Seller Party or any certificate furnished to Buyer pursuant to the provisions hereof or thereof or any information with respect to the Mortgage Loans furnished in writing by or on behalf of
Seller Party shall prove to have been untrue or misleading in any material respect as of the time made or furnished (other than the representations and warranties set forth in Schedule 1, which shall be considered solely for the purpose of
determining the Market Value of the Purchased Assets; unless (i) Seller shall have made any such representations and warranties with actual knowledge that they were materially false or misleading at the time made; or (ii) any such
representations and warranties have been determined in good faith by Buyer in its sole discretion to be materially false or misleading on a regular basis); or 

(c) Immediate Covenant Default. The failure of a Seller Party to perform, comply with or observe any term, covenant or agreement
applicable to Seller contained in any of Sections 11(a) (Preservation of Existence; Compliance with Law); (f) (True and Correct Information); (g) (ERISA Events); (h) (Financial Condition Covenants);
(k) (Insurance); (m) (Illegal Activities.); (n) (Material Change in Business); (o) (Limitation on Dividends and Distributions); (q) (Disposition of Assets; Liens); (r) (Transactions
with Affiliates); (s) (Organization); (v) (Approved Underwriting Guidelines);(w) (Agency Approvals; Servicing); (z) (Takeout Payments) or (cc) (Trade Assignment); or 

(d) Additional Covenant Defaults. A Seller Party shall fail to observe or perform any other covenant or agreement contained in this
Agreement (and not identified in Section 12(c)) or any other Program Document, and if such default shall be capable of being remedied, and such failure to observe or perform shall continue unremedied for a period of ten (10) Business Days;
or 
 (e) Judgments. A judgment or judgments for the payment of money in excess of the Litigation Threshold in the aggregate shall be
rendered against a Seller Party or any of its Affiliates by one or more courts, administrative tribunals or other bodies having jurisdiction and the same shall not be satisfied, discharged (or provision shall not be made for such discharge) or
bonded, or a stay of execution thereof shall not be procured, within 30 days from the date of entry thereof, and Seller Party or any such Affiliate shall not, within said period of 30 days, or such longer period during which execution of the same
shall have been stayed or bonded, appeal therefrom and cause the execution thereof to be stayed during such appeal; or 
 (f) Buyer
Affiliate Cross-Default. Any “event of default” or any other default which permits a demand for, or requires, the early repayment of obligations due by a Seller Party or its Affiliates under any agreement with Buyer or its Affiliates
relating to any Indebtedness in excess of $1,000,000 of Seller Party or any Affiliate, as applicable, or any default under any obligation when due with Buyer or its Affiliates; or 

(g) Other Cross-Default. Any “event of default” or any other default which permits a demand for, or requires, the early
repayment of obligations due by a Seller Party or its Affiliates under any note, indenture, loan agreement, guaranty, swap agreement, Hedge Agreement or other Indebtedness in excess of $1,000,000 of Seller Party or any Affiliate; or 

  
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 (h) Insolvency Event. An Insolvency Event shall have occurred with respect to a Seller
Party or any Affiliate; or 
 (i) Enforceability. For any reason, this Agreement at any time shall not be in full force and effect in
all material respects or shall not be enforceable in all material respects in accordance with its terms, or any Lien granted pursuant thereto shall fail to be perfected and of first priority, or any Person (other than Buyer) shall contest the
validity, enforceability, perfection or priority of any Lien granted pursuant thereto, or any party thereto (other than Buyer) shall seek to disaffirm, terminate, limit or reduce its obligations hereunder; or 

(j) Liens. Any Seller Party shall grant, or suffer to exist, any Lien on any Repurchase Asset (except any Lien in favor of Buyer and
Permitted Encumbrances); or at least one of the following fails to be true (A) the Repurchase Assets shall have been sold to Buyer, or (B) the Liens contemplated hereby are first priority perfected Liens on any Repurchase Assets in favor
of Buyer; or 
 (k) Material Adverse Effect. A Material Adverse Effect shall occur as determined by Buyer in its sole good faith
discretion; or 
 (l) Change in Control. A Change in Control shall have occurred; or 

(m) Going Concern. Any Financial Reporting Party’s audited Financial Statements or notes thereto or other opinions or conclusions
stated therein shall be qualified or limited by reference to the status of Seller Party as a “going concern” or reference of similar import; or 

(n) Investigations. There shall occur the initiation of any investigation, audit, examination or review of a Seller Party by an Agency,
any Governmental Authority, any trade association or consumer advocacy group relating to the origination, sale or servicing of mortgage loans by such Seller Party or the business operations of such Seller Party is likely yo cause a Material Adverse
Effect, with the exception of normally scheduled audits or examinations by such Seller Party’s regulators; or 
 (o) Inability to
Perform. An officer of Seller shall admit its inability to, or its intention not to, perform any of Seller’s obligations; or 
 (p)
Governmental Action. Seller Party shall become the subject of a cease and desist order of the Appropriate Federal Banking Agency or any other Governmental Authority or enter into a memorandum of understanding or consent agreement with the
Appropriate Federal Banking Agency or other Governmental Authority, any of which, would have, or is purportedly the result of any condition which would be reasonably likely to have, a Material Adverse Effect; or 

  
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	SECTION 13.	REMEDIES 

 (a) If an Event of Default occurs, the following rights and remedies are
available to Buyer; provided, that an Event of Default shall be deemed to be continuing unless expressly waived by Buyer in writing. 

(i) At the option of Buyer, exercised by written or electronic notice to Seller (which option shall be deemed to have been
exercised, even if no notice is given, immediately upon the occurrence of an Insolvency Event of a Seller Party or any Affiliate), the Repurchase Date for each Transaction hereunder, if it has not already occurred, shall be deemed immediately to
occur. 
 (ii) If Buyer exercises or is deemed to have exercised the option referred to in subsection (a)(i) of this
Section 13, 
 (A) Seller’s obligations in such Transactions to repurchase all Purchased Assets, at the Repurchase
Price therefor on the Repurchase Date determined in accordance with subsection (a)(i) of this Section 13, (1) shall thereupon become immediately due and payable and (2) all Income paid after such exercise or deemed exercise shall be
retained by Buyer and applied to the aggregate unpaid Repurchase Price and any other Obligations; 
 (B) to the extent
permitted by any applicable Requirement of Law, the Repurchase Price with respect to each such Transaction shall be increased by the aggregate amount obtained by daily application of, on a 360 day per year basis for the actual number of days during
the period from and including the date of the exercise or deemed exercise of such option to but excluding the date of payment of the Repurchase Price as so increased, (x) the Post-Default Rate in effect following an Event of Default to
(y) the Repurchase Price for such Transaction as of the Repurchase Date as determined pursuant to subsection (a)(i) of this Section 13 (decreased as of any day by (i) any amounts applied by Buyer pursuant to clause (C) of this
subsection, and (ii) any proceeds from the sale of Purchased Assets applied to the Repurchase Price pursuant to subsection (a)(iv) of this Section 13; and 

(C) all Income actually received by Buyer pursuant to Section 5 shall be applied to the aggregate unpaid Obligations owed
by Seller Parties. 
 (iii) Upon the occurrence of one or more Events of Default, Buyer shall have the right to obtain
(A) a physical transfer of the servicing of the Purchased Assets in accordance with Section 15(c) and (B) physical possession of all files of Seller relating to the Purchased Assets and the Repurchase Assets and all documents relating
to the Purchased Assets which are then or may thereafter come in to the possession of Seller or any third party acting for Seller (including any Servicer) and Seller shall deliver to Buyer such assignments as Buyer shall request. Buyer shall be
entitled to specific performance of all agreements of Seller contained in the Program Documents. 

  
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 (iv) At any time on the Business Day following notice to Seller (which notice
need not be given if an Event of Default under Section 12(h) shall have occurred with respect to any Seller Party or any Affiliate thereof and may be the notice given under subsection (a)(i) of this Section 13), in the event Seller has not
repurchased all Purchased Assets, Buyer may (A) immediately sell, without demand or further notice of any kind, at a public or private sale, without any representations or warranties of Buyer and at such price or prices as Buyer may deem
satisfactory any or all Purchased Assets and the Repurchase Assets subject to a such Transactions hereunder and apply the proceeds thereof to the aggregate unpaid Repurchase Prices and any other amounts owing by Seller hereunder or (B) in its
sole discretion elect, in lieu of selling all or a portion of such Purchased Assets, to give Seller credit for such Purchased Assets and the Repurchase Assets in an amount equal to the Market Value of the Purchased Assets against the aggregate
unpaid Repurchase Price and any other Obligations of Seller. The proceeds of any disposition of Purchased Assets and the Repurchase Assets shall be applied to Seller’s Obligations as determined by Buyer in its sole discretion. 

(v) Seller shall be liable to Buyer for (A) the amount of all reasonable legal or other expenses (including, without
limitation, all costs and expenses of Buyer in connection with the enforcement of this Agreement or any other agreement evidencing a Transaction, whether in action, suit or litigation or bankruptcy, insolvency or other similar proceeding affecting
creditors’ rights generally, further including, without limitation, the reasonable fees and expenses of counsel (including the costs of internal counsel of Buyer) incurred in connection with or as a result of an Event of Default,
(B) damages in an amount equal to the cost (including all fees, expenses and commissions) of Buyer entering into replacement transactions and entering into or terminating hedge transactions in connection with or as a result of an Event of
Default, and (C) any other loss, damage, cost or expense directly arising or resulting from the occurrence of an Event of Default in respect of a Transaction. 

(vi) Buyer shall have, in addition to its rights hereunder, any rights otherwise available to it under any other agreement or
any applicable Requirement of Law. 
 (b) Buyer may exercise one or more of the remedies available hereunder immediately upon the occurrence
of an Event of Default and at any time thereafter without notice to Seller. All rights and remedies arising under this Agreement as amended from time to time hereunder are cumulative and not exclusive of any other rights or remedies which Buyer may
have. 
 (c) Seller recognizes that the market for the Purchased Assets may not be liquid and as a result it may not be possible for Buyer
to sell all of the Purchased Assets on a particular Business Day, or in a transaction with the same purchaser, or in the same manner. In view of the nature of the Purchased Assets, the Seller agrees that liquidation of any Purchased Asset may be
conducted in a private sale. Seller acknowledges and agrees that any such private sale may result in prices and other terms less favorable to Buyer than if such sale were a public sale, and notwithstanding such circumstances, agrees that any such
private sale shall be deemed to have been made in a commercially reasonable manner. Seller further agrees that it would not be commercially unreasonable for Buyer to dispose of any Purchased Asset by using internet sites that provide for the auction
or sale of assets similar to the Purchased Assets, or that have the reasonable capability of doing so, or that match buyers and sellers of assets. 

  
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 (d) Buyer may enforce its rights and remedies hereunder without prior judicial process or
hearing, and each Seller Party hereby expressly waives any defenses Seller Party might otherwise have to require Buyer to enforce its rights by judicial process. Seller Party also waives any defense (other than a defense of payment or performance)
Seller Party might otherwise have arising from the use of nonjudicial process, enforcement and sale of all or any portion of the Repurchase Assets, or from any other election of remedies. Seller Party recognizes that nonjudicial remedies are
consistent with the usages of the trade, are responsive to commercial necessity and are the result of a bargain at arm’s length. 
 (e)
To the extent permitted by any applicable Requirement of Law, Seller shall be liable to Buyer for interest (including post-petition interest) on any amounts owing by Seller hereunder, from the date Seller becomes liable for such amounts hereunder
until such amounts are (i) paid in full by Seller or (ii) satisfied in full by the exercise of Buyer’s rights hereunder. Interest on any sum payable by Seller to Buyer under this Section 13(e) shall be at a rate equal to the
Post-Default Rate. 
 (f) Without limiting the rights of Buyer hereto to pursue all other legal and equitable rights available to Buyer for
Seller Party’s failure to perform its obligations under this Agreement, Seller Party acknowledges and agree that the remedy at law for any failure to perform obligations hereunder would be inadequate and Buyer shall be entitled to specific
performance, injunctive relief, or other equitable remedies in the event of any such failure. The availability of these remedies shall not prohibit Buyer from pursuing any other remedies for such breach, including the recovery of monetary damages.

  

	SECTION 14.	INDEMNIFICATION AND EXPENSES; RECOURSE 

 (a) Each Seller Party agrees to hold Buyer, and
its Affiliates and their officers, directors, employees, agents and advisors (each an “Indemnified Party”) harmless from and indemnify, on an after-Tax basis, any Indemnified Party against all liabilities, losses, damages,
judgments, costs and expenses of any kind which may be imposed on, incurred by or asserted against such Indemnified Party (collectively, “Costs”), relating to or arising out of this Agreement (including, without limitation, as a
result of a breach of any representation or warranty contained on Schedule 1), any other Program Document or any transaction contemplated hereby or thereby, or any amendment, supplement or modification of, or any waiver or consent under or in
respect of, this Agreement, any other Program Document or any transaction contemplated hereby or thereby, that, in each case, results from anything other than the Indemnified Party’s gross negligence or willful misconduct. Without limiting the
generality of the foregoing, each Seller Party agrees to hold any Indemnified Party harmless from and indemnify such Indemnified Party, on an after-Tax basis, against all Costs and Taxes incurred or assessed as a result of or otherwise in connection
with the holding of the Mortgage Loans or Agency Securities or any failure by any Seller Party or Subsidiary thereof to pay when due any Taxes for which such Person is liable, that result from anything other than the Indemnified Party’s gross
negligence or willful misconduct. In any suit, proceeding or action brought by an Indemnified Party in connection with this Agreement, any Mortgage Loan or Agency Security 

  
 54 

 
for any sum owing thereunder, or to enforce any provisions of any Mortgage Loan or Agency Security, Seller Party will save, indemnify on an after-Tax basis and hold such Indemnified Party
harmless from and against all expense, loss or damage suffered by reason of any defense, set off, counterclaim, recoupment or reduction or liability whatsoever of the account debtor or obligor thereunder, arising out of a breach by Seller Party of
any obligation thereunder or arising out of any other agreement, indebtedness or liability at any time owing to or in favor of such account debtor or obligor or its successors from Seller Party. Seller Party also agrees to reimburse an Indemnified
Party as and when billed by such Indemnified Party for all the Indemnified Party’s costs and expenses incurred in connection with the enforcement or the preservation of Buyer’s rights under this Agreement, any other Program Document or any
transaction contemplated hereby or thereby, including without limitation the reasonable fees and disbursements of its counsel. 
 (b) Seller
Party agrees to pay as and when billed by Buyer all of the out-of-pocket costs and expenses incurred by Buyer in connection with the development, preparation and execution of, and any amendment, supplement or modification to, this Agreement, any
other Program Document or any other documents prepared in connection herewith or therewith. Seller Party agrees to pay as and when billed by Buyer all of the reasonable out-of-pocket costs and expenses incurred in connection with the consummation
and administration of the transactions contemplated hereby and thereby including without limitation search and filing fees and all the reasonable fees, disbursements and expenses of counsel to Buyer. Seller Party agrees to pay Buyer all the
reasonable out of pocket due diligence, inspection, testing and review costs and expenses incurred by Buyer with respect to Mortgage Loans submitted by Seller for purchase under this Agreement, including, but not limited to, those out of pocket
costs and expenses incurred by Buyer pursuant to Sections 14(a) and 16 hereof. 
 (c) The obligations of Seller Parties from time to time to
pay the Repurchase Price, the Price Differential, the Obligations and all other amounts due under this Agreement shall be full recourse obligations of each Seller Party. 
  

	SECTION 15.	SERVICING 

 (a) Seller shall service the Purchased Mortgage Loans as agent for Buyer and
in accordance with prudent mortgage loan servicing standards and procedures generally accepted in the mortgage banking industry and in accordance with all applicable requirements of the Agencies, Requirement of Law, the provisions of any applicable
servicing agreement, and the requirements of any applicable Takeout Commitment and the Approved Investor, so that the eligibility of the Mortgage Loan for purchase under such Takeout Commitment is not voided or reduced by such servicing and
administration. 
 (b) If any Mortgage Loan that is proposed to be sold on a Purchase Date is serviced by a servicer other than Seller (a
“Subservicer”), or if the servicing of any Mortgage Loan is to be transferred to a Subservicer, Seller shall provide a copy of the related servicing agreement and a Servicer Notice executed by such Subservicer (collectively, the
“Servicing Agreement”) to Buyer prior to such Purchase Date or servicing transfer date, as applicable. Each such Servicing Agreement shall be in form and substance acceptable to Buyer. In addition, Seller shall have obtained the
prior written consent of Buyer for such Subservicer to subservice 

  
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the Mortgage Loans, which consent may be withheld in Buyer’s sole discretion. In no event shall Seller’s use of a Subservicer relieve Seller of its obligations hereunder, and Seller
shall remain liable under this Agreement as if Seller were servicing such Mortgage Loans directly. 
 (c) Seller shall transfer actual
servicing of each Purchased Mortgage Loan, together with all of the related Records in its possession, to Buyer’s designee and designate Buyer’s designee as the servicer in the MERS System upon the earliest of (i) the occurrence of a
Default or Event of Default hereunder, (ii) the termination of Seller as interim servicer by Buyer pursuant to this Agreement, (iii) the expiration (and non-renewal) of the Servicing Term, or (iv) transfer of servicing to any entity
approved by Buyer and the assumption thereof by such entity. Buyer shall have the right to terminate Seller as interim servicer of any of the Purchased Mortgage Loans, which right shall be exercisable at any time in Buyer’s sole discretion,
upon written notice. Seller’s transfer of the Records and servicing under this Section 15 shall be in accordance with customary standards in the industry and such transfer shall include the transfer of the gross amount of all escrows held
for the related mortgagors (without reduction for unreimbursed advances or “negative escrows”). 
 (d) During the period Seller is
servicing the Purchased Mortgage Loans as agent for Buyer, Seller agrees that Buyer is the owner of the related Credit Files and Records and Seller shall at all times maintain and safeguard and cause the Subservicer to maintain and safeguard the
Credit File for the Purchased Mortgage Loans (including photocopies or images of the documents delivered to Buyer), and accurate and complete records of its servicing of the Purchased Mortgage Loan; Seller’s possession of the Credit Files and
Records being for the sole purpose of servicing such Purchased Mortgage Loan and such retention and possession by Seller being in a custodial capacity only. 

(e) At Buyer’s request, Seller shall promptly deliver to Buyer reports regarding the status of any Purchased Mortgage Loan being serviced
by Seller, which reports shall include, but shall not be limited to, a description of any default thereunder for more than thirty (30) days or such other circumstances that could cause a material adverse effect on such Purchased Mortgage Loan,
Buyer’s title to such Purchased Mortgage Loan or the collateral securing such Purchased Mortgage Loan; Seller may be required to deliver such reports until the repurchase of the Purchased Mortgage Loan by Seller. Seller shall immediately notify
Buyer if it becomes aware of any payment default that occurs under the Purchased Mortgage Loan or any default under any Servicing Agreement that would materially and adversely affect any Purchased Mortgage Loan subject thereto. 

(f) Seller shall release its custody of the contents of any Credit File or Mortgage File only (i) in accordance with the written
instructions of Buyer, (ii) upon the consent of Buyer when such release is required as incidental to Seller’s servicing of the Purchased Mortgage Loan, is required to complete the Takeout Commitment or comply with the Takeout Commitment
requirements, or (iii) as required by any applicable Requirement of Law. 
 (g) Buyer reserves the right to appoint a successor
servicer at any time to service any Purchased Mortgage Loan (each a “Successor Servicer”) in its sole discretion. If Buyer elects to make such an appointment due to a Default or Event of Default, Seller shall be assessed all costs
and expenses incurred by Buyer associated with transferring the servicing of 

  
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the Purchased Mortgage Loans to the Successor Servicer. In the event of such an appointment, Seller shall perform all acts and take all action so that any part of the Credit File and related
Records held by Seller, together with all funds in the Custodial Account and other receipts relating to such Purchased Mortgage Loan, are promptly delivered to Successor Servicer, and shall otherwise reasonably cooperate with Buyer in effectuating
such transfer. Seller shall have no claim for lost servicing income, lost profits or other damages if Buyer appoints a Successor Servicer hereunder and the servicing fee is reduced or eliminated. For the avoidance of doubt any termination of the
Servicer’s rights to service by the Buyer as a result of a Default or an Event of Default shall be deemed part of an exercise of the Buyer’s rights to cause the liquidation, termination or acceleration of this Agreement. 

(h) For the avoidance of doubt, Seller retains no economic rights to the servicing of the Purchased Mortgage Loans provided that Seller shall
continue to service the Purchased Mortgage Loans hereunder as part of its Obligations hereunder. As such, Seller expressly acknowledges that the Purchased Mortgage Loans are sold to Buyer on a “servicing released” basis. 

 

	SECTION 16.	DUE DILIGENCE 

 Each Seller Party acknowledges that Buyer has the right to perform
continuing due diligence reviews with respect to the Mortgage Loans, Seller Parties, Settlement Agents, Approved Investors and other parties which may be involved in or related to Transactions (collectively, “Third Party Transaction
Parties”), from time to time, for purposes of verifying compliance with the representations, warranties and specifications made hereunder, or otherwise, and the Seller Parties agree that upon reasonable prior notice to the Seller Parties,
unless an Event of Default shall have occurred, in which case no notice is required, Buyer or its authorized representatives will be permitted during normal business hours to examine, inspect, and make copies and extracts of, the Mortgage Files and
any and all documents, records, agreements, instruments or information relating to such Mortgage Loans in the possession or under the control of any Seller Party. The Seller Parties will use best efforts to cause Third Party Transaction Parties to
cooperate with any due diligence requests of Buyer. The Seller Parties shall also make available to Buyer a knowledgeable financial or accounting officer for the purpose of answering questions respecting the Mortgage Files and the Mortgage Loans.
Without limiting the generality of the foregoing, Seller acknowledges that Buyer may purchase Mortgage Loans from Seller based solely upon the information provided by Seller to Buyer in the Mortgage Loan Schedule and the representations, warranties
and covenants contained herein, and that Buyer, at its option, has the right at any time to conduct a partial or complete due diligence review on some or all of the Mortgage Loans purchased in a Transaction, including, without limitation, ordering
broker’s price opinions, new credit reports and new appraisals on the related Mortgaged Properties and otherwise re-generating the information used to originate such Mortgage Loan. Buyer may underwrite such Mortgage Loans itself or engage a
mutually agreed upon third party underwriter to perform such underwriting. Seller agrees to cooperate with Buyer and any third party underwriter in connection with such underwriting, including, but not limited to, providing Buyer and any third party
underwriter with access to any and all documents, records, agreements, instruments or information relating to such Mortgage Loans in the possession, or under the control, of Seller. Each Seller Party further agrees that it shall pay all
out-of-pocket costs and expenses incurred by Buyer in connection with Buyer’s activities pursuant to this Section 16. 

  
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	SECTION 17.	ASSIGNABILITY 

 The rights and obligations of the parties under this Agreement and under
any Transaction shall not be assigned by any Seller Party without the prior written consent of Buyer. Buyer may from time to time, without the consent of Seller, assign all or a portion of its rights and obligations under this Agreement and the
Program Documents to any party, including, without limitation, any affiliate of Buyer, pursuant to an executed assignment and acceptance by Buyer and assignee (“Assignment and Acceptance”), specifying the percentage or portion of
such rights and obligations assigned and provided that all such assignees shall be subject to the confidentiality provisions of this Agreement. Upon such assignment, (a) such assignee shall be a party hereto and to each Program Document to the
extent of the percentage or portion set forth in the Assignment and Acceptance, and shall succeed to the applicable rights and obligations of Buyer hereunder, and (b) Buyer shall, to the extent that such rights and obligations have been so
assigned by it be released from its obligations hereunder and under the Program Documents. Subject to the foregoing, this Agreement and any Transactions shall be binding upon and shall inure to the benefit of the parties and their respective
successors and assigns. Nothing in this Agreement express or implied, shall give to any Person, other than the parties to this Agreement and their successors hereunder, any benefit of any legal or equitable right, power, remedy or claim under this
Agreement. Unless otherwise stated in the Assignment and Acceptance, Seller shall continue to take directions solely from Buyer unless otherwise notified by Buyer in writing. Buyer may distribute to any prospective assignee any document or other
information delivered to Buyer by Seller. 
 Buyer may sell participations to one or more Persons in or to all or a portion of its rights
and obligations under this Agreement; provided, however, that (i) Buyer’s obligations under this Agreement shall remain unchanged, (ii) Buyer shall remain solely responsible to the other parties hereto for the performance of such
obligations; and (iii) Seller shall continue to deal solely and directly with Buyer in connection with Buyer’s rights and obligations under this Agreement and the other Program Documents except as provided in Section 7. 

Buyer may, in connection with any assignment or participation or proposed assignment or participation pursuant to this Section 17,
disclose to the assignee or participant or proposed assignee or participant, as the case may be, any information relating to Seller or any of its Subsidiaries or to any aspect of the Transactions that has been furnished to Buyer by or on behalf of
Seller or any of its Subsidiaries; provided that such assignee or participant agrees to hold such information subject to the confidentiality provisions of this Agreement. 

In the event Buyer assigns all or a portion of its rights and obligations under this Agreement, the parties hereto agree to negotiate in good
faith an amendment to this Agreement to add agency provisions similar to those included in agreements for similar syndicated repurchase facilities. 

  
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	SECTION 18.	TRANSFER AND MAINTENANCE OF REGISTER. 

 (a) Subject to acceptance and recording thereof
pursuant to Section 18(b), from and after the effective date specified in each Assignment and Acceptance the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Acceptance, have the
rights and obligations of Buyer under this Agreement. Any assignment or transfer by Buyer of rights or obligations under this Agreement that does not comply with this Section 17 and Section 18 shall be treated for purposes of this
Agreement as a sale by such Buyer of a participation in such rights and obligations in accordance with Section 17 hereof. 
 (b) Buyer
shall maintain, on Seller’s behalf, a register (the “Register”) on which it will record each Assignment and Acceptance and participation. The Register shall include the names and addresses of Buyer (including all assignees,
successors and participants) and the percentage or portion of such rights and obligations assigned. Failure to make any such recordation, or any error in such recordation shall not affect Seller’s obligations in respect of such rights. 

 

	SECTION 19.	HYPOTHECATION OR PLEDGE OF PURCHASED ASSETS 

 Title to all Purchased Assets and
Repurchase Assets shall pass to Buyer and Buyer shall have free and unrestricted use of all Purchased Assets. Nothing in this Agreement shall preclude Buyer from engaging in repurchase transactions with the Purchased Assets or otherwise pledging,
repledging, transferring, hypothecating, or rehypothecating the Purchased Assets to any Person, including without limitation, the Federal Home Loan Bank. Nothing contained in this Agreement shall obligate Buyer to segregate any Purchased Assets
delivered to Buyer by Seller. 
  

	SECTION 20.	TAX TREATMENT 

 Notwithstanding anything to the contrary in this Agreement or any other
Program Documents, each party to this Agreement acknowledges that it is its intent for U.S. federal, state and local income and franchise tax purposes to treat each Transaction as indebtedness of Seller that is secured by the Purchased Assets and
the Purchased Assets as owned by Seller in the absence of a Default by Seller. All parties to this Agreement agree to such treatment and agree to take no action inconsistent with this treatment, unless required by any Requirement of Law (in which
case such party shall promptly notify the other party of such Requirement of Law). 
  

	SECTION 21.	SET-OFF 

 In addition to any rights and remedies of Buyer hereunder and by law, Buyer
shall have the right, without prior notice to any Seller Party, any such notice being expressly waived by each Seller Party to the extent permitted by applicable law to set off and appropriate and apply against any Obligation from any Seller Party
or any Affiliate thereof to Buyer or any of its Affiliates any and all Property and deposits (general or special, time or demand, provisional or final), in any currency, and any other obligation (including to return excess margin), credits,
indebtedness or claims or cash, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by or due from Buyer or any 

  
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Affiliate thereof to or for the credit or the account of any Seller Party or any Affiliate thereof. Buyer may set-off cash, the proceeds of the liquidation of any Repurchase Assets and all other
sums or obligations owed by Buyer or its Affiliates to a Seller Party or its Affiliates against all of Seller Party’s or its Affiliate’s obligations to Buyer or its Affiliates, whether under this Agreement or under any other agreement
between the parties or between a Seller Party or its Affiliate and Buyer and any Affiliate of Buyer, or otherwise, whether or not such obligations are then due, without prejudice to Buyer’s or its Affiliate’s right to recover any
deficiency. Buyer agrees promptly to notify the Seller Parties after any such set-off and application made by Buyer; provided that the failure to give such notice shall not affect the validity of such set-off and application. 

Buyer shall at any time have the right, in each case until such time as Buyer determines otherwise, to retain, to suspend payment or
performance of, or to decline to remit, any amount or property that Buyer would otherwise be obligated to pay, remit or deliver to Seller hereunder if an Event of Default or Default has occurred. 

 

	SECTION 22.	TERMINABILITY 

 Each representation and warranty made or deemed to be made by entering
into a Transaction, herein or pursuant hereto shall survive the making of such representation and warranty, and Buyer shall not be deemed to have waived any Default that may arise because any such representation or warranty shall have proved to be
false or misleading, notwithstanding that Buyer may have had notice or knowledge or reason to believe that such representation or warranty was false or misleading at the time the Transaction was made. Notwithstanding any such termination or the
occurrence of an Event of Default, all of the representations and warranties and covenants hereunder shall continue and survive. The obligations of each Seller Party under Section 14 hereof shall survive the termination of this Agreement. 

 

	SECTION 23.	NOTICES AND OTHER COMMUNICATIONS 

 Except as otherwise expressly permitted by this
Agreement, all notices, requests and other communications provided for herein (including without limitation any modifications of, or waivers, requests or consents under, this Agreement) shall be given or made in writing (including without limitation
by electronic transmission) delivered to the intended recipient at the addresses set forth below. In all cases, to the extent that the related individual set forth in the respective “Attention” line is no longer employed by the respective
Person, such notice may be given to the attention of a Responsible Officer of the respective Person or to the attention of such individual or individuals as subsequently notified in writing by a Responsible Officer of the respective Person. Except
as otherwise provided in this Agreement and except for notices given under Section 3 (which shall be effective only on receipt), all such communications shall be deemed to have been duly given when transmitted electronically or personally
delivered or, in the case of a mailed notice, upon receipt, in each case given or addressed as aforesaid. 

  
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 If to Seller: 

loanDepot.com, LLC 
 26642 Towne
Centre Drive 
 Foothill Ranch, CA 92610 

Attention: Jon Frojen, CFO 

Telephone: (949) 465-8490 

Facsimile: (949) 465-8490 

If to Buyer: 
 UBS Bank USA 

1285 Avenue of the Americas 

New York, NY 10019 
 Attention:
Gary Timmerman 
 Telephone: (212) 649-8156 

Facsimile: (212) 713-9640 

Email: Gary.Timmerman@ubs.com 

With a copy to: 
 UBS Bank USA

 153 West 51st Street 
 New
York, NY 10019 
 Attention: Chad Eisenberger 

Telephone: (212) 821-4885 

Email: Chad.Eisenberger@ubs.com 

And: 
 OL-SMFG-Business@ubs.com

  

	SECTION 24.	 USE OF THE WAREHOUSE ELECTRONIC SYSTEM AND OTHER ELECTRONIC MEDIA 

 Seller
acknowledges and agrees that Buyer may require or permit certain transactions with Buyer be conducted electronically using Electronic Records and/or Electronic Signatures. Seller consents to the use of Electronic Records and/or Electronic Signatures
whenever expressly required or permitted by Buyer and acknowledges and agrees that Seller shall be bound by its Electronic Signature and by the terms, conditions, requirements, information and/or instructions contained in any such Electronic
Records. 
 Seller agrees to adopt as its Electronic Signature its user identification codes, passwords, personal identification numbers,
access codes, a facsimile image of a written signature and/or other symbols or processes as provided or required by Buyer from time to time (as a group, any subgroup thereof or individually, hereinafter referred to as Seller’s Electronic
Signature). Seller acknowledges that Buyer will rely on any and all Electronic Records and on Seller’s Electronic Signature transmitted or submitted to Buyer. 

  
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 Buyer shall not be liable for the failure of either its or Seller’s internet service
provider, or any other telecommunications company, telephone company, satellite company or cable company to timely, properly and accurately transmit any Electronic Record or fax copy. 

Before engaging in Electronic Transactions with Seller, Buyer may provide Seller, or require Seller to create, user identification codes,
passwords, personal identification numbers and/or access codes, as applicable, to permit access to Buyer’s computer information processing system. Each Person permitted access to the Warehouse Electronic System must have a separate
identification code and password. Seller shall be fully responsible for protecting and safeguarding any and all user identification codes, passwords, personal identification numbers and access codes provided or required by Buyer. Seller shall adopt
and maintain security measures to prevent the loss, theft or unauthorized or improper disclosure or use of any and all user identification codes, passwords, personal identification numbers and/or access codes by Persons other than the individual
Person who is authorized to use such information. Seller shall notify Buyer immediately in the event (i) of any loss, theft or unauthorized disclosure or use of any of the user identification codes, passwords, personal identification numbers
and/or access codes or (ii) Seller has any reason to believe there has been a breach of security or that its access to Warehouse Electronic System is no longer secure for any reason. 

Seller understands and agrees that it shall be fully responsible for protecting and safeguarding its computer hardware and software from any
and all (a) computer “viruses,” “time bombs,” “trojan horses” or other harmful computer information, commands, codes or programs that may cause or facilitate the destruction, corruption, malfunction or
appropriation of, or damage or change to, any of Seller’s or Buyer’s computer information processing systems, including without limitation, all hardware, software, Electronic Records, information, data and/or codes and (b) computer
“worms,” “trap doors” or other harmful computer information, commands, codes or programs that enable unauthorized access to Seller’s and/or Buyer’s computer information processing systems, including without limitation,
all hardware, software, Electronic Records, information, data and/or codes. 
 Seller agrees that Buyer may, in its sole discretion and from
time to time, without limiting Seller’s liability set forth herein, establish minimum security standards that Seller must, at a minimum, comply with in an effort to (x) protect and safeguard any and all user identification codes,
passwords, personal identification numbers and/or access codes from loss, theft or unauthorized disclosure or use; and (y) prevent the infiltration and “infection” of Seller’s hardware and/or software by any and all computer
“viruses,” “time bombs,” “trojan horses,” “worms,” “trapdoors” or other harmful computer codes or programs. 

If Buyer, from time to time, establishes minimum security standards, Seller shall comply with such minimum security standards within the time
period established by Buyer. Buyer shall have the right to confirm Seller’s compliance with any such minimum security standards. Seller’s compliance with such minimum security standards shall not relieve Seller from any of its liability
set forth herein. 
 Whether or not Buyer establishes minimum security standards, Seller shall continue to be fully responsible for adopting
and maintaining security measures that are consistent with the risks associated with conducting electronic transactions with Buyer. Seller’s 

  
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failure to adopt and maintain appropriate security measures or to comply with any minimum security standards established by Buyer may result in, among other things, termination of Seller’s
access to Buyer’s computer information processing systems. 
 Each Seller Party understands and agrees that certain elements or
components of the Warehouse Electronic System may be provided by third party vendors, and hereby holds Buyer harmless from any liabilities, losses, damages, judgments, costs and expenses of any kind which may be imposed on, incurred by or asserted
against Seller Party relating to or arising out of Seller’s use of the Warehouse Electronic System including without limitation, the use of any elements or components provided by third party vendors. 

 

	SECTION 25.	ENTIRE AGREEMENT; SEVERABILITY; SINGLE AGREEMENT 

 This Agreement, together with the
Program Documents, constitute the entire understanding between Buyer and Seller Parties with respect to the subject matter they cover and shall supersede any existing agreements between the parties containing general terms and conditions for
repurchase transactions involving Purchased Assets. By acceptance of this Agreement, Buyer and Seller Parties each acknowledge that they have not made, and are not relying upon, any statements, representations, promises or undertakings not contained
in this Agreement. Each provision and agreement herein shall be treated as separate and independent from any other provision or agreement herein and shall be enforceable notwithstanding the unenforceability of any such other provision or agreement.

 Buyer and Seller acknowledge that, and have entered hereinto and will enter into each Transaction hereunder in consideration of and in
reliance upon the fact that, all Transactions hereunder constitute a single business and contractual relationship and that each has been entered into in consideration of the other Transactions. Accordingly, each of Buyer and each Seller Party agrees
(i) to perform all of its obligations in respect of each Transaction hereunder, and that a default in the performance of any such obligations shall constitute a default by it in respect of all Transactions hereunder, (ii) that Buyer shall
be entitled to set off claims and apply property held by it in respect of any Transaction against obligations owing to it in respect of any other Transaction hereunder; (iii) that payments, deliveries, and other transfers made by either of them
in respect of any Transaction shall be deemed to have been made in consideration of payments, deliveries, and other transfers in respect of any other Transactions hereunder, and the obligations to make any such payments, deliveries, and other
transfers may be applied against each other and netted and (iv) to promptly provide notice to the other after any such set off or application. 
  

	SECTION 26.	GOVERNING LAW 

 THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR
RELATED TO THIS AGREEMENT, THE RELATIONSHIP OF THE PARTIES TO THIS AGREEMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES TO THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS
AND DECISIONS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CHOICE OF LAW RULES THEREOF. THE PARTIES 

  
 63 

 
HERETO INTEND THAT THE PROVISIONS OF SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT. NOTWITHSTANDING ANYTHING TO THE CONTRARY, THE EFFECTIVENESS, VALIDITY
AND ENFORCEABILITY OF ELECTRONIC CONTRACTS, OTHER RECORDS, ELECTRONIC RECORDS AND ELECTRONIC SIGNATURES USED IN CONNECTION WITH ANY ELECTRONIC TRANSACTION BETWEEN BUYER AND SELLER PARTY SHALL BE GOVERNED BY E-SIGN. 

 

	SECTION 27.	SUBMISSION TO JURISDICTION; WAIVERS 

 BUYER AND EACH SELLER PARTY HEREBY IRREVOCABLY
AND UNCONDITIONALLY: 
 (i) SUBMITS FOR ITSELF AND ITS PROPERTY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS
AGREEMENT AND THE OTHER PROGRAM DOCUMENTS, OR FOR RECOGNITION AND ENFORCEMENT OF ANY JUDGMENT IN RESPECT THEREOF, TO THE EXCLUSIVE GENERAL JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK, THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA FOR
THE SOUTHERN DISTRICT OF NEW YORK, AND APPELLATE COURTS FROM ANY THEREOF; 
 (ii) CONSENTS THAT ANY SUCH ACTION OR
PROCEEDING MAY BE BROUGHT IN SUCH COURTS AND, TO THE EXTENT PERMITTED BY LAW, WAIVES ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT OR THAT SUCH ACTION OR PROCEEDING WAS BROUGHT IN AN
INCONVENIENT COURT AND AGREES NOT TO PLEAD OR CLAIM THE SAME; 
 (iii) AGREES THAT SERVICE OF PROCESS IN ANY SUCH
ACTION OR PROCEEDING MAY BE EFFECTED BY MAILING A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL), POSTAGE PREPAID, TO ITS ADDRESS SET FORTH IN SECTION 23 HEREOF OR AT SUCH OTHER ADDRESS OF WHICH THE OTHER
PARTY SHALL HAVE BEEN NOTIFIED; 
 (iv) AGREES THAT NOTHING HEREIN SHALL AFFECT THE RIGHT TO EFFECT SERVICE OF PROCESS
IN ANY OTHER MANNER PERMITTED BY LAW OR SHALL LIMIT THE RIGHT TO SUE IN ANY OTHER JURISDICTION; AND 
 (v) HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER PROGRAM DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR
THEREBY. 

  
 64 

	SECTION 28.	NO WAIVERS, ETC. 

 No failure on the part of Buyer to exercise and no delay in
exercising, and no course of dealing with respect to, any right, power or privilege under any Program Document shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or privilege under any Program Document
preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The remedies provided herein are cumulative and not exclusive of any remedies provided by law. An Event of Default shall be deemed to be
continuing unless expressly waived by Buyer in writing. 
  

	SECTION 29.	NETTING 

 If Buyer and Seller are “financial institutions” as now or
hereinafter defined in Section 4402 of Title 12 of the United States Code (“Section 4402”) and any rules or regulations promulgated thereunder (a) all amounts to be paid or advanced by one party to or on behalf of the
other under this Agreement or any Transaction hereunder shall be deemed to be “payment obligations” and all amounts to be received by or on behalf of one party from the other under this Agreement or any Transaction hereunder shall be
deemed to be “payment entitlements” within the meaning of Section 4402, and this Agreement shall be deemed to be a “netting contract” as defined in Section 4402; (b) the payment obligations and the payment
entitlements of the parties hereto pursuant to this Agreement and any Transaction hereunder shall be netted as follows. In the event that either party (the “Defaulting Party”) shall fail to honor any payment obligation under this
Agreement or any Transaction hereunder, the other party (the “Nondefaulting Party”) shall be entitled to reduce the amount of any payment to be made by the Nondefaulting Party to the Defaulting Party by the amount of the payment
obligation that the Defaulting Party failed to honor. 
  

	SECTION 30.	CONFIDENTIALITY 

 Buyer and each Seller Party hereby acknowledge and agree that all
written or computer-readable information provided by one party to any other regarding the terms set forth in any of the Program Documents or the Transactions contemplated thereby (the “Confidential Terms”) shall be kept confidential
and shall not be divulged to any party without the prior written consent of such other party except to the extent that (i) it is necessary to do so in working with legal counsel, auditors, taxing authorities or other governmental agencies or
regulatory bodies or in order to comply with any applicable federal or state laws, (ii) any of the Confidential Terms are in the public domain other than due to a breach of this covenant, (iii) in the event of an Event of Default Buyer
determines such information to be necessary or desirable to disclose in connection with the marketing and sales of the Purchased Assets or otherwise to enforce or exercise Buyer’s rights hereunder or (iv) by Buyer in connection with any
marketing material undertaken by Buyer. 
 Notwithstanding the foregoing or anything to the contrary contained herein or in any other
Program Document, the parties hereto may disclose to any and all Persons, without limitation of any kind, the federal, state and local tax treatment of the Transactions, any fact relevant to understanding the federal, state and local tax treatment
of the Transactions, and all materials of any kind (including opinions or other tax analyses) relating to such federal, state and 

  
 65 

 
local tax treatment and that may be relevant to understanding such tax treatment; provided that no Seller Party or Subsidiary or Affiliate thereof may disclose the name of or identifying
information with respect to Buyer, its Affiliates or any other Indemnified Party, or any pricing terms (including, without limitation, the Pricing Rate, Warehouse Fees and, Purchase Price) or other nonpublic business or financial information
(including any sublimits and financial covenants) that is unrelated to the federal, state and local tax treatment of the Transactions and is not relevant to understanding the federal, state and local tax treatment of the Transactions, without the
prior written consent of Buyer. The provisions set forth in this Section 30 shall survive the termination of this Agreement. 
  

	SECTION 31.	INTENT 

 (a) The parties recognize that each Transaction is a “repurchase
agreement” as that term is defined in Section 101 of Title 11 of the Bankruptcy Code, as amended and a “securities contract” as that term is defined in Section 741 of Title 11 of the Bankruptcy Code, as amended and that all
payments hereunder are deemed “margin payments” or “settlement payments” as defined in Title 11 of the Bankruptcy Code and that the pledge of the Repurchase Assets constitutes “a security agreement or other arrangement or
other credit enhancement” that is “related to” the Agreement and Transactions hereunder within the meaning of Sections 101(38A)(A), 101(47)(A)(v) and 741(7)(A)(xi) of the Bankruptcy Code. The parties further recognize and intend that
this Agreement is an agreement to provide financial accommodations and is not subject to assumption pursuant to Bankruptcy Code Section 365(a). 

(b) This Agreement is intended to be a “repurchase agreement” and a “securities contract,” within the meaning of
Section 555 and Section 559 under the Bankruptcy Code. It is understood that either party’s right to liquidate Purchased Assets delivered to it in connection with Transactions hereunder or to exercise any other remedies pursuant to
Section 13 hereof is a contractual right to liquidate such Transaction as described in Sections 555 and 559 of Title 11 of the Bankruptcy Code, as amended; any payments or transfers of property made with respect to this Agreement or any
Transaction to satisfy a Margin Deficit shall be considered a “margin payment” as such term is defined in Bankruptcy Code Section 741(5). 

(c) The parties hereby agree that any provisions hereof or in any other document, agreement or instrument that is related in any way to the
servicing of the Purchased Mortgage Loans shall be deemed “related to” this Agreement within the meaning of Sections 101(38A)(A) and 101(47)(A)(v) of the Bankruptcy Code and part of the “contract” as such term is used in
Section 741 of the Bankruptcy Code. 
 (d) The parties agree and acknowledge that if a party hereto is an “insured depository
institution,” as such term is defined in the Federal Deposit Insurance Act, as amended (“FDIA”), then each Transaction hereunder is a “qualified financial contract,” a “repurchase agreement” and a
“securities contract” as such terms are defined in FDIA and any rules, orders or policy statements thereunder. 
 (e) It is
understood that this Agreement constitutes a “netting contract” as defined in and subject to Title IV of the Federal Deposit Insurance Corporation Improvement Act of 1991 (“FDICIA”) and each payment entitlement and payment
obligation under any 

  
 66 

 
Transaction hereunder shall constitute a “covered contractual payment entitlement” or “covered contractual payment obligation”, respectively, as defined in and subject to
FDICIA (except insofar as one or both of the parties is not a “financial institution” as that term is defined in FDICIA). 
 (f)
Each party intends that this Agreement constitutes and shall be construed and interpreted as a “master netting agreement” within the meaning of and as such terms are used in Section 561 of the Bankruptcy Code and each party agrees
that this Agreement is intended to create mutuality of obligations among the parties, and as such, this Agreement constitutes a contract which (i) is between all of the parties and (ii) places each party in the same right and capacity.

  

	SECTION 32.	DISCLOSURE RELATING TO CERTAIN FEDERAL PROTECTIONS 

 The parties acknowledge that they
have been advised that (a) in the case of Transactions in which one of the parties is a broker or dealer registered with the Securities and Exchange Commission (“SEC”) under Section 15 of the Securities Exchange Act of
1934 (“1934 Act”), the Securities Investor Protection Corporation has taken the position that the provisions of the Securities Investor Protection Act of 1970 (“SIPA”) do not protect the other party with respect to
any Transaction hereunder and (b) in the case of Transactions in which one of the parties is a financial institution, funds held by the financial institution pursuant to a Transaction hereunder are not a deposit and therefore are not insured by
the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund, as applicable. 
  

	SECTION 33.	CONFLICTS 

 In the event of any conflict between the terms of this Agreement, any other
Program Document and any Confirmation, the documents shall control in the following order of priority: first, the terms of the Confirmation shall prevail, then the terms of this Agreement shall prevail, and then the terms of the other Program
Document shall prevail. 
  

	SECTION 34.	MISCELLANEOUS 

 (a) Counterparts. This Agreement may be executed in any number of
counterparts, all of which taken together shall constitute one and the same instrument, and any of the parties hereto may execute this Agreement by signing any such counterpart. Delivery of an executed counterpart of a signature page of this
Agreement in Portable Document Format (PDF) or by facsimile shall be effective as delivery of a manually executed original counterpart of this Agreement. 

(b) Captions. The captions and headings appearing herein are for included solely for convenience of reference and are not intended to
affect the interpretation of any provision of this Agreement. 
 (c) Acknowledgment. Each Seller Party hereby acknowledges that
(i) it has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Program Documents; (ii) Buyer has no fiduciary relationship to Seller Party; and (iii) no joint venture exists between Buyer
and Seller Party. 

  
 67 

 (d) Documents Mutually Drafted. Seller Parties and Buyer agree that this Agreement each
other Program Document prepared in connection with the Transactions set forth herein have been mutually drafted and negotiated by each party, and consequently such documents shall not be construed against either party as the drafter thereof. 

(e) Amendments. This Agreement and each other Program Document may be amended from time to time, in writing and duly executed by the
parties hereto. 
 (f) Acknowledgement of Anti Predatory Lending Policies. Buyer has in place internal policies and procedures that
expressly prohibit its purchase of any High Cost Mortgage Loan. 
 (g) Authorizations. Any of the persons whose signatures and titles
appear on Schedule 2 are authorized, acting singly, to act for Seller Party, under this Agreement. 
  

	SECTION 35.	GENERAL INTERPRETIVE PRINCIPLES 

 For purposes of this Agreement, except as otherwise
expressly provided or unless the context otherwise requires: (a) the terms defined in this Agreement have the meanings assigned to them in this Agreement and include the plural as well as the singular, and the use of any gender herein shall be
deemed to include the other gender; (b) accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles; (c) references herein to “Articles”,
“Sections”, “Subsections”, “Paragraphs”, and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement; (d) a
reference to a Subsection without further reference to a Section is a reference to such Subsection as contained in the same Section in which the reference appears, and this rule shall also apply to Paragraphs and other subdivisions; (e) the
words “herein”, “hereof”, “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular provision; (f) the term “include” or “including” shall mean
without limitation by reason of enumeration; (g) all times specified herein or in any other Program Document (unless expressly specified otherwise) are local times in New York, New York unless otherwise stated; and (h) all references
herein or in any Program Document to “good faith” means good faith as defined in Section 1-201(19) of the UCC as in effect in the State of New York. 

[THIS SPACE INTENTIONALLY LEFT BLANK] 

  
 68 

 IN WITNESS WHEREOF, the parties have entered into this Agreement as of the date set forth above.

  

			
	BUYER:
	
	UBS BANK USA
		
	By:	 	 /s/ Gary Timmerman

	Name:	 	Gary Timmerman
	Title:	 	Managing Director
		
	By:	 	 /s/ Steve Stewart

	Name:	 	Steve Stewart
	Title:	 	Chief Credit Officer

 Signature Page to the Master Repurchase Agreement 

 
			
	SELLER:
	
	LOANDEPOT.COM, LLC
		
	By:	 	 /s/ JON FROJEN

	Name:	 	JON FROJEN
	Title:	 	CFO

 Signature Page to the Master Repurchase Agreement 

 SCHEDULE 1 

REPRESENTATIONS AND WARRANTIES 

Seller represents and warrants to Buyer, with respect to each Mortgage Loan, that as of the Purchase Date for the purchase of any Purchased
Mortgage Loans by Buyer from Seller and as of the date of this Agreement and any Transaction hereunder and at all times while the Program Documents and any Transaction hereunder is in full force and effect, that the following are true and correct.
For purposes of this Schedule 1 and the representations and warranties set forth herein, a breach of a representation or warranty shall be deemed to have been cured with respect to a Mortgage Loan if and when Seller has taken or caused to be
taken action such that the event, circumstance or condition that gave rise to such breach no longer adversely affects such Mortgage Loan. With respect to those representations and warranties which are made to the best of Seller’s knowledge, if
it is discovered by Seller or Buyer that the substance of such representation and warranty is inaccurate, notwithstanding Seller’s lack of knowledge with respect to the substance of such representation and warranty, such inaccuracy shall be
deemed a breach of the applicable representation and warranty. 
 (a) Mortgage Loans as Described. The information set forth in the
Mortgage Loan Schedule is complete, true and correct in all material respects. 
 (b) Payments Current. No payment required under the
Mortgage Loan is 30 days or more delinquent nor has any payment under the Mortgage Loan been 30 days or more delinquent at any time since the origination of the Mortgage Loan; and, if the Mortgage Loan is a Co-op Loan, no foreclosure action or
private or public sale under the Uniform Commercial Code has ever to the knowledge of Seller, been threatened or commenced with respect to the Co-op Loan. 

(c) Origination Date. Unless otherwise approved by Buyer, the initial Purchase Date is no more than (i) with respect to Mortgage
Loans other than Correspondent Mortgage Loans in non-escrow states, thirty (30) days following the origination date of the Mortgage Note; (ii) with respect to Mortgage Loans other than Correspondent Mortgage Loans in escrow states,
forty-five (45) days following the origination date of the Mortgage Note and (iii) with respect to Correspondent Mortgage Loans, sixty (60) days following the origination date of the Mortgage Note. 

(d) Approved Underwriting Guidelines. The Mortgage Loan satisfies the Approved Underwriting Guidelines. 

(e) No Outstanding Charges. There are no defaults in complying with the terms of the Mortgage, and all taxes, governmental assessments,
insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which
remains unpaid and which has been assessed but is not yet due and payable. Seller has not advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment
of any amount required under the Mortgage Loan, except for interest accruing from the date of the 

  
 Sch. 1-1 

 
Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the Due Date of the first installment of principal and interest.

 (f) Original Terms Unmodified. The terms of the Mortgage Note (and the Proprietary Lease, the Assignment of Proprietary Lease and
Stock Power with respect to each Co-op Loan) and Mortgage have not been impaired, waived, altered or modified in any respect, from the date of origination except by a written instrument which has been recorded, if necessary to protect the interests
of Buyer, and which has been delivered to the Custodian or to such other Person as Buyer shall designate in writing, and the terms of which are reflected in the Mortgage Loan Schedule. The substance of any such waiver, alteration or modification has
been approved by the issuer of any related PMI Policy and the title insurer, if any, to the extent required by the policy, and its terms are reflected on the Mortgage Loan Schedule, if applicable. No Mortgagor has been released, in whole or in part,
except in connection with an assumption agreement, approved by the issuer of any related PMI Policy and the issuer of the title insurer, to the extent required by the policy, and which assumption agreement is part of the Mortgage File delivered to
the Custodian or to such other Person as Buyer shall designate in writing and the terms of which are reflected in the Mortgage Loan Schedule. 

(g) No Defenses. The Mortgage Loan (and the Assignment of Proprietary Lease related to each Co-op Loan) is not subject to any right of
rescission, set-off, counterclaim or defense, including without limitation the defense of usury, nor will the operation of any of the terms of the Mortgage Note or the Mortgage, or the exercise of any right thereunder, render either the Mortgage
Note or the Mortgage unenforceable, in whole or in part, or subject to any right of rescission, set-off, counterclaim or defense, including without limitation the defense of usury, and no such right of rescission, set-off, counterclaim or defense
has been asserted with respect thereto, and no Mortgagor was a debtor in any state or federal bankruptcy or insolvency proceeding at, or subsequent to, the time the Mortgage Loan was originated. 

(h) Hazard Insurance. Pursuant to the terms of the Mortgage, all buildings or other improvements upon the Mortgaged Property are
insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are provided for in the Fannie Mae guides or by Freddie Mac, as well as all additional requirements set forth in the Approved
Underwriting Guidelines. If required by the National Flood Insurance Act of 1968, as amended, each Mortgage Loan is covered by a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration as in
effect which policy conforms to Fannie Mae and Freddie Mac, as well as all additional requirements set forth in the Servicing Agreement. All individual insurance policies contain a standard mortgagee clause naming Seller and its successors and
assigns as mortgagee, and all premiums thereon have been paid and such policies may not be reduced, terminated or cancelled without 30 days’ prior written notice to the mortgagee. The Mortgage obligates the Mortgagor thereunder to maintain the
hazard insurance policy at the Mortgagor’s cost and expense, and on the Mortgagor’s failure to do so, authorizes the holder of the Mortgage to obtain and maintain such insurance at such Mortgagor’s cost and expense, and to seek
reimbursement therefor from the Mortgagor. Where required by state law or regulation, the Mortgagor has been given an opportunity to choose the carrier of the required hazard insurance, provided the policy is not a “master” or
“blanket” hazard insurance policy covering a condominium, or any hazard insurance policy covering the 

  
 Sch. 1-2 

 
common facilities of a planned unit development. The hazard insurance policy is the valid and binding obligation of the insurer, is in full force and effect, and will be in full force and effect
and inure to the benefit of Buyer upon the consummation of the transactions contemplated by this Agreement. Seller has not engaged in, and has no knowledge of the Mortgagor’s or any servicer’s having engaged in, any act or omission which
would impair the coverage of any such policy, the benefits of the endorsement provided for herein, or the validity and binding effect of such policy, including, without limitation, no unlawful fee, commission, kickback or other unlawful compensation
or value of any kind has been or will be received, retained or realized by any attorney, firm or other person or entity, and no such unlawful items have been received, retained or realized by Seller. 

(i) Compliance with Applicable Laws. Any and all requirements of any federal, state or local law including, without limitation, usury,
truth-in-lending, real estate settlement procedures, consumer credit protection, anti-predatory lending laws, laws covering fair housing, fair credit reporting, community reinvestment, homeowners equity protection, equal credit opportunity, mortgage
reform and disclosure laws or unfair and deceptive practices laws applicable to the Mortgage Loan have been complied with, the consummation of the transactions contemplated hereby will not involve the violation of any such laws or regulations.
Seller shall maintain in its possession, available for Buyer’s inspection, and shall deliver to Buyer upon demand, evidence of compliance with all requirements set forth herein. 

(j) No Satisfaction of Mortgage. The Mortgage has not been satisfied, canceled, subordinated or rescinded, in whole or in part, and the
Mortgaged Property has not been released from the lien of the Mortgage, in whole or in part, nor has any instrument been executed that would affect any such release, cancellation, subordination or rescission. Seller has not waived the performance by
the Mortgagor of any action, if the Mortgagor’s failure to perform such action would cause the Mortgage Loan to be in default, nor has Seller waived any default resulting from any action or inaction by the Mortgagor. 

(k) Location and Type of Mortgaged Property. The Mortgaged Property is a fee simple property located in the state identified in the
Mortgage Loan Schedule except that with respect to real property located in jurisdictions in which the use of leasehold estates for residential properties is a widely-accepted practice, the Mortgaged Property may be a leasehold estate and consists
of a single parcel of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual residential condominium or Co-op Unit in a low-rise or high-rise condominium or Co-op Project, or an
individual unit in a planned unit development and that no residence or dwelling is (i) a mobile home or (ii) a manufactured home, provided, however, that any condominium or Co-op Unit or planned unit development shall not fall within any
of the “Ineligible Projects” of part VIII, Section 102 of the Fannie Mae Selling Guide and shall conform with the Approved Underwriting Guidelines. The Mortgaged Property is not raw land. In the case of any Mortgaged Properties that
are manufactured homes (a “Manufactured Home Mortgage Loans”), (i) such Manufactured Home Mortgage Loan conforms with the applicable Fannie Mae or Freddie Mac requirements regarding mortgage loans related to manufactured
dwellings, (ii) the related manufactured dwelling is permanently affixed to the land, (iii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and
naming Seller as mortgagee, (iv) the applicable laws of the jurisdiction in which the related 

  
 Sch. 1-3 

 
Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, and (v) such
Manufactured Home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Code and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. As of the date of
origination, no portion of the Mortgaged Property was used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a
home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner
repair, maintenance and/or household purposes. 
 (l) Located in U.S. No collateral (including, without limitation, the related real
property and the dwellings thereon and otherwise) relating to such Mortgage Loan is located in any jurisdiction other than the United States of America or the District of Columbia. 

(m) Valid First Lien. Each Mortgage is a valid and subsisting first lien of record on a single parcel of real estate constituting the
Mortgaged Property, including all buildings and improvements on the Mortgaged Property and all installations and mechanical, electrical, plumbing, heating and air conditioning systems located in or annexed to such buildings, and all additions,
alterations and replacements made at any time, subject in all cases to the exceptions to title set forth in the title insurance policy with respect to the related Mortgage Loan, which exceptions are generally acceptable to prudent mortgage lending
companies, and such other exceptions to which similar properties are commonly subject and which do not individually, or in the aggregate, materially and adversely affect the benefits of the security intended to be provided by such Mortgage. The lien
of the Mortgage is subject only to: 
 (i) the lien of current real property taxes and assessments not yet due and payable.

 (ii) covenants, conditions and restrictions, rights of way, easements and other matters of the public record as of the
date of recording acceptable to prudent mortgage lending institutions generally and specifically referred to in the lender’s title insurance policy delivered to the originator of the Mortgage Loan and (a) specifically referred to or
otherwise considered in the appraisal made for the originator of the Mortgage Loan or (b) which do not adversely affect the Appraised Value of the Mortgaged Property set forth in such appraisal; and 

(iii) other matters to which like properties are commonly subject which do not materially interfere with the benefits of the
security intended to be provided by the Mortgage or the use, enjoyment, value or marketability of the related Mortgaged Property. 
 Any security agreement,
chattel mortgage or equivalent document related to and delivered in connection with the Mortgage Loan establishes and creates a valid, subsisting, enforceable and perfected first lien and first priority security interest on the property described
therein and Seller has full right to sell and assign the same to Buyer. The Mortgaged Property was not, as of the date of origination of the Mortgage Loan, subject to a mortgage, deed of trust, deed to secure debt or other security instrument
creating a lien subordinate to the lien of the Mortgage. 

  
 Sch. 1-4 

 (n) Validity of Mortgage Documents. The Mortgage Note and the Mortgage and any other
agreement executed and delivered by a Mortgagor in connection with a Mortgage Loan are genuine, and each is the legal, valid and binding obligation of the maker thereof enforceable in accordance with its terms. All parties to the Mortgage Note, the
Mortgage and any other such related agreement had legal capacity to enter into the Mortgage Loan and to execute and deliver the Mortgage Note, the Mortgage and any such agreement, and the Mortgage Note, the Mortgage and any other such related
agreement have been duly and properly executed by other such related parties. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material
fact required to be stated therein or necessary to make the information and statements therein not misleading. No fraud, error, omission, misrepresentation, negligence or similar occurrence with respect to a Mortgage Loan has taken place on the part
of any Person, including without limitation, the Mortgagor, any appraiser, any builder or developer, or any other party involved in the origination or servicing of the Mortgage Loan or in the application or any insurance in relation to such Mortgage
Loan. Seller has reviewed all of the documents constituting the Mortgage File and has made such inquiries as it deems necessary to make and confirm the accuracy of the representations set forth herein. 

(o) Full Disbursement of Proceeds. The Mortgage Loan has been closed and the proceeds of the Mortgage Loan have been fully disbursed
and there is no requirement for future advances thereunder, and any and all requirements as to completion of any on-site or off-site improvement and as to disbursements of any escrow funds therefor have been complied with. All costs, fees and
expenses incurred in making or closing the Mortgage Loan and the recording of the Mortgage were paid, and the Mortgagor is not entitled to any refund of any amounts paid or due under the Mortgage Note or Mortgage. All points and fees related to each
Mortgage Loan were disclosed in writing to the Mortgagor in accordance with applicable state and federal law and regulation. No Mortgagor was charged “points and fees” (whether or not financed) in an amount that exceeds 3% of the total
loan amount (or such other applicable limits for lower balance Mortgages) as specified under 12 CFR 1026.43(e)(3), and the points and fees were calculated using the calculation required for qualified mortgages under 12 CFR 1026.32(b) to determine
compliance with applicable requirements. 
 (p) Ownership. Seller is the sole owner of record and holder of the Mortgage Loan and the
indebtedness evidenced by each Mortgage Note and upon the sale of the Mortgage Loans to Buyer, Seller will retain the Mortgage Files or any part thereof with respect thereto not delivered to the Custodian, Buyer or Buyer’s designee, in trust
only for the purpose of servicing and supervising the servicing of each Mortgage Loan. The Mortgage Loan is not assigned or pledged, and Seller has good, indefeasible and marketable title thereto, and has full right to transfer and sell the Mortgage
Loan to Buyer free and clear of any encumbrance, equity, participation interest, lien, pledge, charge, claim or security interest, and has full right and authority subject to no interest or participation of, or agreement with, any other party, to
sell and assign each Mortgage Loan (and with respect to any Co-op Loan, the sole owner of the related Assignment of Proprietary Lease) pursuant to this Agreement and following the sale of each Mortgage Loan, Buyer will own such Mortgage Loan free
and clear of any encumbrance, equity, participation interest, lien, pledge, charge, claim or security interest. Seller intends to relinquish all rights to possess, control and monitor the Mortgage Loan. 

  
 Sch. 1-5 

 (q) Doing Business. All parties which have had any interest in the Mortgage Loan, whether
as mortgagee, assignee, pledgee or otherwise, are (or, during the period in which they held and disposed of such interest, were) (1) in compliance with any and all applicable licensing requirements of the laws of the state wherein the Mortgaged
Property is located, and (2) either (i) organized under the laws of such state, or (ii) qualified to do business in such state, or (iii) a federal savings and loan association, a savings bank or a national bank having a principal
office in such state, or (3) not doing business in such state. 
 (r) LTV, PMI Policy. No Conforming Mortgage Loan has an LTV
greater than 100%. The LTV of the Conforming Mortgage Loan either is not more than 80% or the excess over 75% of the Appraised Value is and will be insured as to payment defaults by a PMI Policy until the LTV of such Conforming Mortgage Loan is
reduced to 80%. All provisions of such PMI Policy have been and are being complied with, such policy is in full force and effect, and all premiums due thereunder have been paid. No action, inaction, or event has occurred and no state of facts exists
that has, or will result in the exclusion from, denial of, or defense to coverage. Any Conforming Mortgage Loan subject to a PMI Policy obligates the Mortgagor thereunder to maintain the PMI Policy and to pay all premiums and charges in connection
therewith. The Mortgage Interest Rate for the Conforming Mortgage Loan as set forth on the Mortgage Loan Schedule is net of any such insurance premium. The LTV of any HARP Mortgage Loan is no greater than 105% if such Mortgage Loan is (i) a
fixed-rate Mortgage Loan with a term in excess of 30 years, or (ii) an adjustable-rate Mortgage Loan with an initial fixed period greater than or equal to five years, unless otherwise approved by Buyer in its sole discretion. 

(s) Title Insurance. The Mortgage Loan is covered by an ALTA lender’s title insurance policy, or with respect to any Mortgage Loan
for which the related Mortgaged Property is located in California a CLTA lender’s title insurance policy, or other generally acceptable form of policy or insurance acceptable to Fannie Mae or Freddie Mac and each such title insurance policy is
issued by a title insurer acceptable to Fannie Mae or Freddie Mac and qualified to do business in the jurisdiction where the Mortgaged Property is located, insuring Seller, its successors and assigns, as to the first priority lien of the Mortgage in
the original principal amount of the Mortgage Loan, subject only to the exceptions contained in clauses (i), (ii) and (iii) of paragraph (m) of this Schedule 1, and in the case of adjustable rate Mortgage Loans, against any
loss by reason of the invalidity or unenforceability of the lien resulting from the provisions of the Mortgage providing for adjustment to the Mortgage Interest Rate and Monthly Payment. Where required by state law or regulation, the Mortgagor has
been given the opportunity to choose the carrier of the required mortgage title insurance. Additionally, such lender’s title insurance policy affirmatively insures ingress and egress, and against encroachments by or upon the Mortgaged Property
or any interest therein. The title policy does not contain any special exceptions (other than the standard exclusions) for zoning and uses and has been marked to delete the standard survey exception or to replace the standard survey exception with a
specific survey reading. Seller, its successors and assigns, are the sole insureds of such lender’s title insurance policy, and such lender’s title insurance policy is valid and remains in full force and effect and will be in force and
effect upon the consummation of the 

  
 Sch. 1-6 

 
transactions contemplated by this Agreement. No claims have been made under such lender’s title insurance policy, and no prior holder of the related Mortgage, including Seller, has done, by
act or omission, anything which would impair the coverage of such lender’s title insurance policy, including without limitation, no unlawful fee, commission, kickback or other unlawful compensation or value of any kind has been or will be
received, retained or realized by any attorney, firm or other Person or entity, and no such unlawful items have been received, retained or realized by Seller. 

(t) No Defaults. Other than payments due but not yet 30 days or more delinquent, there is no default, breach, violation or event which
would permit acceleration existing under the Mortgage or the Mortgage Note and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would
permit acceleration, and neither Seller nor any of its affiliates nor any of their respective predecessors, have waived any default, breach, violation or event which would permit acceleration; and with respect to each Co-op Loan, there is no default
in complying with the terms of the Mortgage Note, the Assignment of Proprietary Lease and the Proprietary Lease and all maintenance charges and assessments (including assessments payable in the future installments, which previously became due and
owing) have been paid, and Seller has the right under the terms of the Mortgage Note, Assignment of Proprietary Lease and Recognition Agreement to pay any maintenance charges or assessments owed by the Mortgagor. 

(u) No Mechanics’ Liens. There are no mechanics’ or similar liens or claims which have been filed for work, labor or material
(and no rights are outstanding that under law could give rise to such liens) affecting the related Mortgaged Property which are or may be liens prior to, or equal or coordinate with, the lien of the related Mortgage. 

(v) Location of Improvements; No Encroachments. All improvements which were considered in determining the Appraised Value of the
Mortgaged Property lay wholly within the boundaries and building restriction lines of the Mortgaged Property, and no improvements on adjoining properties encroach upon the Mortgaged Property. No improvement located on or being part of the Mortgaged
Property is in violation of any applicable zoning law or regulation. 
 (w) Origination; Payment Terms. Except with respect to a
Correspondent Mortgage Loan, the Mortgage Loan was originated by Seller. Seller is a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a
savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority. The documents, instruments and agreements submitted for loan underwriting were not
falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. No Mortgage Loan contains terms or provisions which
would result in negative amortization. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The mortgage interest rate as well as the lifetime rate cap and the
periodic cap are as set forth on the Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to adjustable rate Mortgage Loans, are

  
 Sch. 1-7 

 
subject to change due to the adjustments to the mortgage interest rate on each interest rate adjustment date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage
Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified, the Mortgage Loan is payable on the first day of each month. There are no Mortgage Loans which
contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note. 

(x) Customary Provisions. The Mortgage contains customary and enforceable provisions such as to render the rights and remedies of the
holder thereof adequate for the realization against the Mortgaged Property of the benefits of the security provided thereby, including, (i) in the case of a Mortgage designated as a deed of trust, by trustee’s sale, and (ii) otherwise
by judicial foreclosure. Upon default by a Mortgagor on a Mortgage Loan and foreclosure on, or trustee’s sale of, the Mortgaged Property pursuant to the proper procedures, the holder of the Mortgage Loan will be able to deliver good and
merchantable title to the Mortgaged Property. There is no homestead or other exemption or other right available to the Mortgagor or any other person, or restriction on Seller or any other person, including without limitation, any federal, state or
local, law, ordinance, decree, regulation, guidance, attorney general action, or other pronouncement, whether temporary or permanent in nature, that would interfere with, restrict or delay, either (y) the ability of Seller, Buyer or any
servicer or any successor servicer to sell the related Mortgaged Property at a trustee’s sale or otherwise, or (z) the ability of Seller, Buyer or any servicer or any successor servicer to foreclose on the related Mortgage. 

(y) Conformance with Agency and Approved Underwriting Guidelines. The Mortgage Loan was underwritten in accordance with the Approved
Underwriting Guidelines (a copy of which has been delivered to Buyer). The Mortgage Note and Mortgage are on forms acceptable to Freddie Mac, Fannie Mae or FHA, as applicable, and Seller has not made any representations to a Mortgagor that are
inconsistent with the mortgage instruments used. The methodology used in underwriting the extension of credit for each Mortgage Loan employs objective quantitative principles which relate the Mortgagor’s credit characteristics, income, assets
and liabilities (as applicable to a particular underwriting program) to the proposed payment, and such underwriting methodology does not rely on the extent of the Mortgagor’s equity in the collateral as the principal determining factor in
approving such credit extension. Such underwriting methodology confirmed that at the time of origination (application/approval) the Mortgagor had a reasonable ability to make timely payments on the Mortgage Loan. 

(z) Occupancy of the Mortgaged Property. The Mortgaged Property is lawfully occupied under applicable law. All inspections, licenses
and certificates required to be made or issued with respect to all occupied portions of the Mortgaged Property and, with respect to the use and occupancy of the same, including but not limited to certificates of occupancy and fire underwriting
certificates, have been made or obtained from the appropriate authorities. 
 (aa) No Additional Collateral. The Mortgage Note is not
and has not been secured by any collateral except the lien of the corresponding Mortgage and the security interest of any applicable security agreement or chattel mortgage referred to in clause (j) above. 

  
 Sch. 1-8 

 (bb) Deeds of Trust. In the event the Mortgage constitutes a deed of trust, a trustee,
authorized and duly qualified under applicable law to serve as such, has been properly designated and currently so serves and is named in the Mortgage, and no fees or expenses are or will become payable by Buyer to the trustee under the deed of
trust, except in connection with a trustee’s sale after default by the Mortgagor. 
 (cc) Acceptable Investment. There are no
circumstances or conditions with respect to the Mortgage, the Mortgaged Property, the Mortgagor, the Mortgage File or the Mortgagor’s credit standing that can reasonably be expected to cause private institutional investors to regard the
Mortgage Loan as an unacceptable investment, cause the Mortgage Loan to become delinquent, or adversely affect the value or marketability of the Mortgage Loan, or cause the Mortgage Loans to prepay during any period materially faster or slower than
the mortgage loans originated by Seller generally. 
 (dd) Delivery of Mortgage Documents. The Mortgage Note, the Mortgage, the
Assignment of Mortgage and any other documents required to be delivered under the Custodial Agreement for each Mortgage Loan have been delivered to the Custodian. Seller is in possession of a complete, true and accurate Mortgage File, except for
such documents the originals of which have been delivered to the Custodian. 
 (ee) Condominiums/Planned Unit Developments. If the
Mortgaged Property is a condominium unit or a planned unit development (other than a de minimis planned unit development) such condominium or planned unit development project is (i) acceptable to Fannie Mae or Freddie Mac or (ii) located
in a condominium or planned unit development project which has received project approval from Fannie Mae or Freddie Mac. The representations and warranties required by Fannie Mae with respect to such condominium or planned unit development have been
satisfied and remain true and correct. 
 (ff) Transfer of Mortgage Loans. The Assignment of Mortgage with respect to each Mortgage
Loan is in recordable form and is acceptable for recording under the laws of the jurisdiction in which the Mortgaged Property is located. The transfer, assignment and conveyance of the Mortgage Notes and the Mortgages by Seller are not subject to
the bulk transfer or similar statutory provisions in effect in any applicable jurisdiction. 
 (gg) Due-On-Sale. The Mortgage
contains an enforceable provision for the acceleration of the payment of the unpaid principal balance of the Mortgage Loan in the event that the Mortgaged Property is sold or transferred without the prior written consent of the mortgagee thereunder,
and to the best of Seller’s knowledge, such provision is enforceable. 
 (hh) Assumability. No Mortgage Loan is assumable. 

(ii) No Buydown Provisions; No Graduated Payments or Contingent Interests. The Mortgage Loan does not contain provisions pursuant to
which Monthly Payments are paid or partially paid with funds deposited in any separate account established by Seller, the Mortgagor, or anyone on behalf of the Mortgagor, or paid by any source other than the Mortgagor nor does it contain any other
similar provisions which may constitute a “buydown” provision. The Mortgage Loan is not a graduated payment mortgage loan and the Mortgage Loan does not have a shared appreciation or other contingent interest feature. 

  
 Sch. 1-9 

 (jj) Consolidation of Future Advances. Any future advances made to the Mortgagor prior to
the Purchase Date have been consolidated with the outstanding principal amount secured by the Mortgage, and the secured principal amount, as consolidated, bears a single interest rate and single repayment term. The lien of the Mortgage securing the
consolidated principal amount is expressly insured as having first lien priority by a title insurance policy, an endorsement to the policy insuring the mortgagee’s consolidated interest or by other title evidence acceptable to Fannie Mae and
Freddie Mac and/or FHA, as applicable. The consolidated principal amount does not exceed the original principal amount of the Mortgage Loan. 

(kk) Mortgaged Property Undamaged; No Condemnation Proceedings. There is no proceeding pending or, to the knowledge of the Seller,
threatened for the total or partial condemnation of the Mortgaged Property. The Mortgaged Property is undamaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty so as to affect adversely the value of the
Mortgaged Property as security for the Mortgage Loan or the use for which the premises were intended and each Mortgaged Property is in good repair. 

(ll) Collection Practices; Escrow Deposits; Interest Rate Adjustments. The origination, servicing and collection practices used by
Seller with respect to the Mortgage Loan have been in all respects in compliance with Accepted Servicing Practices, applicable laws and regulations, and have been in all respects legal and proper and prudent in the mortgage origination and servicing
business. With respect to escrow deposits and Escrow Payments, all such payments are in the possession of, or under the control of, Seller and there exist no deficiencies in connection therewith for which customary arrangements for repayment thereof
have not been made. All Escrow Payments have been collected in full compliance with state and federal law and the provisions of the related Mortgage Note and Mortgage. An escrow of funds is not prohibited by applicable law and has been established
in an amount sufficient to pay for every item that remains unpaid and has been assessed but is not yet due and payable. No escrow deposits or Escrow Payments or other charges or payments due Seller have been capitalized under the Mortgage or the
Mortgage Note. All mortgage interest rate adjustments have been made in strict compliance with state and federal law and the terms of the related Mortgage and Mortgage Note on the related interest rate adjustment date. If, pursuant to the terms of
the Mortgage Note, another index was selected for determining the mortgage interest rate, the same index was used with respect to each Mortgage Note which required a new index to be selected, and such selection did not conflict with the terms of the
related Mortgage Note. Seller executed and delivered any and all notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the mortgage interest rate and the Monthly Payment adjustments. Any interest
required to be paid pursuant to state, federal and local law has been properly paid and credited. 
 (mm) No Violation of Environmental
Laws. The Mortgaged Property is free from any and all toxic or hazardous substances and there exists no violation of any local, state or federal environmental law, rule or regulation. There is no pending action or proceeding directly involving
the Mortgaged Property in which compliance with any environmental law, rule or 

  
 Sch. 1-10 

 
regulation is an issue; there is no violation of any environmental law, rule or regulation with respect to the Mortgaged Property; and nothing further remains to be done to satisfy in full all
requirements of each such law, rule or regulation constituting a prerequisite to use and enjoyment of said property. 
 (nn)
Servicemembers Civil Relief Act of 2003. The Mortgagor has not notified Seller, and Seller has no knowledge of any relief requested or allowed to the Mortgagor under the Servicemembers Civil Relief Act of 2003. 

(oo) Appraisal. The Mortgage File contains an appraisal of the related Mortgaged Property signed prior to the approval of the Mortgage
Loan application by a qualified appraiser, duly appointed by Seller, who had no interest, direct or indirect in the Mortgaged Property or in any loan made on the security thereof, and whose compensation is not affected by the approval or disapproval
of the Mortgage Loan, and the appraisal and appraiser both satisfy the requirements of Fannie Mae, Freddie Mac or FHA and Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 and the regulations promulgated
thereunder, all as in effect on the date the Mortgage Loan was originated, or with respect to a HARP Mortgage Loan, a duly executed property inspection waiver, fieldwork waiver, or other such similar document as required by the applicable Agency.

 (pp) Disclosure Materials. The Mortgagor has executed a statement to the effect that the Mortgagor has received all disclosure
materials required by, and Seller has complied with, all applicable law with respect to the making of the Mortgage Loans. Seller shall maintain such statement in the Mortgage File. 

(qq) Construction or Rehabilitation of Mortgaged Property. Unless otherwise approved by Buyer in writing and other than with respect to
FHA 203k and 203b Mortgage Loans, no Mortgage Loan was made in connection with the construction or rehabilitation of a Mortgaged Property or facilitating the trade-in or exchange of a Mortgaged Property. 

(rr) Value of Mortgaged Property. Seller has no knowledge of any circumstances existing that could reasonably be expected to adversely
affect the value or the marketability of any Mortgaged Property or Mortgage Loan or to cause the Mortgage Loans to prepay during any period materially faster or slower than similar mortgage loans held by Seller generally secured by properties in the
same geographic area as the related Mortgaged Property. 
 (ss) No Defense to Insurance Coverage. Seller has caused or will cause to
be performed any and all acts required to preserve the rights and remedies of Buyer in any insurance policies applicable to the Mortgage Loans including, without limitation, any necessary notifications of insurers, assignments of policies or
interests therein, and establishments of coinsured, joint loss payee and mortgagee rights in favor of Buyer. No action has been taken or failed to be taken, no event has occurred and no state of facts exists or has existed on or prior to the
Purchase Date (whether or not known to Seller on or prior to such date) which has resulted or will result in an exclusion from, denial of, or defense to coverage under any applicable, special hazard insurance policy, or applicable PMI Policy or
bankruptcy bond (including, without limitation, any exclusions, denials or defenses which would limit or reduce the availability of the timely payment of the full amount of the loss otherwise due thereunder to the insured) whether 

  
 Sch. 1-11 

 
arising out of actions, representations, errors, omissions, negligence, or fraud of Seller, the related Mortgagor or any party involved in the application for such coverage, including the
appraisal, plans and specifications and other exhibits or documents submitted therewith to the insurer under such insurance policy, or for any other reason under such coverage, but not including the failure of such insurer to pay by reason of such
insurer’s breach of such insurance policy or such insurer’s financial inability to pay. 
 (tt) Escrow Analysis. With
respect to each Mortgage, Seller has within the last twelve months (unless such Mortgage was originated within such twelve month period) analyzed the required Escrow Payments for each Mortgage and adjusted the amount of such payments so that,
assuming all required payments are timely made, any deficiency will be eliminated on or before the first anniversary of such analysis, or any overage will be refunded to the Mortgagor, in accordance with Real Estate Settlement Procedures Act and any
other applicable law. 
 (uu) Prior Servicing. Each Mortgage Loan has been serviced in all material respects in strict compliance
with Accepted Servicing Practices. 
 (vv) Credit Information. As to each consumer report (as defined in the Fair Credit Reporting
Act, Public Law 91-508) or other credit information furnished by Seller to Buyer, that Seller has full right and authority and is not precluded by law or contract from furnishing such information to Buyer and Buyer is not precluded from furnishing
the same to any subsequent or prospective purchaser of such Mortgage. Seller shall hold Buyer harmless from any and all damages, losses, costs and expenses (including attorney’s fees) arising from disclosure of credit information in connection
with Buyer’s secondary marketing operations and the purchase and sale of mortgages or Servicing Rights thereto. 
 (ww)
Leaseholds. If the Mortgage Loan is secured by a long-term residential lease, (1) the lessor under the lease holds a fee simple interest in the land; (2) the terms of such lease expressly permit the mortgaging of the leasehold
estate, the assignment of the lease without the lessor’s consent and the acquisition by the holder of the Mortgage of the rights of the lessee upon foreclosure or assignment in lieu of foreclosure or provide the holder of the Mortgage with
substantially similar protections; (3) the terms of such lease do not (A) allow the termination thereof upon the lessee’s default without the holder of the Mortgage being entitled to receive written notice of, and opportunity to cure,
such default, (B) allow the termination of the lease in the event of damage or destruction as long as the Mortgage is in existence, (C) prohibit the holder of the Mortgage from being insured (or receiving proceeds of insurance) under the
hazard insurance policy or policies relating to the Mortgaged Property or (D) permit any increase in rent other than pre-established increases set forth in the lease; (4) the original term of such lease is not less than 15 years;
(5) the term of such lease does not terminate earlier than five years after the maturity date of the Mortgage Note; and (6) the Mortgaged Property is located in a jurisdiction in which the use of leasehold estates in transferring ownership
in residential properties is a widely accepted practice. 
 (xx) Prepayment Penalty. No Mortgage Loan is subject to a prepayment
penalty such that an amount in excess of the unpaid principal balance is due by the Mortgagor if Mortgagor prepays the Mortgage Loan prior to the maturity date of such Mortgage Loan. 

  
 Sch. 1-12 

 (yy) Predatory Lending Regulations; High Cost Loans. No Mortgage Loan (i) is
classified as High Cost Mortgage Loans or (ii) is subject to Section 226.32 of Regulation Z or any similar state law (relating to high interest rate credit/lending transactions). No Mortgagor was encouraged or required to select a Mortgage
Loan product offered by Seller or the originator which is a higher cost product designed for less creditworthy borrowers, unless at the time of the Mortgage Loan’s origination, such Mortgagor did not qualify taking into account credit history
and debt to income ratios for a lower cost credit product then offered by Seller or originator. If, at the time of loan application, the Mortgagor qualified for a lower cost credit product then offered by Seller or the originator’s standard
mortgage channel (if applicable), Seller or the originator directed the Mortgagor towards such standard mortgage channel, or offered such lower-cost credit product to the Mortgagor. 

(zz) Ohio Stated Income Exclusion. Each Mortgage Loan with an origination date on or after January 1, 2007 which is secured by
Mortgaged Property located in Ohio was originated pursuant to a program which requires verification of the borrower’s income in accordance with “Full and Alternative Documentation” programs as described within the Approved
Underwriting Guidelines. 
 (aaa) Origination. No predatory or deceptive lending practices, including, without limitation, the
extension of credit without regard to the ability of the Mortgagor to repay and the extension of credit which has no apparent benefit to the Mortgagor, were employed in the origination of the Mortgage Loan. 

(bbb) Single-premium Credit or Life Insurance Policy. In connection with the origination of any Mortgage Loan, no proceeds from any
Mortgage Loan were used to purchase any single premium credit insurance policy (e.g., life, mortgage, disability, accident, unemployment, or health insurance product) or debt cancellation agreement as a condition of obtaining the extension of
credit. No Mortgagor obtained a prepaid single-premium credit insurance policy (e.g., life, mortgage, disability, accident, unemployment, or health insurance product) or debt cancellation agreement in connection with the origination of the Mortgage
Loan; No proceeds from any Mortgage Loan were used to purchase single premium credit insurance policies (e.g., life, mortgage, disability, accident, unemployment, or health insurance product) or debt cancellation agreements as part of the
origination of, or as a condition to closing, such Mortgage Loan. 
 (ccc) Tax Service Contract; Flood Certification Contract. Each
Mortgage Loan is covered by a paid in full, life of loan, tax service contract and a paid in full, life of loan, flood certification contract and each of these contracts is assignable to Buyer. 

(ddd) Qualified Mortgage. Each Mortgage Loan satisfies the following criteria: (i) such Mortgage Loan is a Qualified Mortgage;
(ii) prior to the origination of such Mortgage Loan, the related originator made a reasonable and good faith determination that the related Mortgagor would have a reasonable ability to repay such Mortgage Loan according to its terms, in
accordance with, at a minimum, the eight underwriting factors set forth in 12 CFR 1026.43(c)(2); and (iii) such Mortgage Loan is supported by documentation that evidences compliance with the Ability to Repay Rule and the QM Rule. 

  
 Sch. 1-13 

 (eee) Ability to Repay Determination. There is no action, suit or proceeding instituted by
or against or, to the knowledge of the Seller, threatened against Seller in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of
such Mortgage Loan (or the related underwriting) with the Ability to Repay Rule or the QM Rule. 
 (fff) Regarding the Mortgagor. The
Mortgagor is one or more natural persons and/or trustees for an Illinois land trust or a trustee under a “living trust” and such “living trust” is in compliance with Fannie Mae guidelines for such trusts. 

(ggg) Recordation. Each original Mortgage was recorded and, except for those Mortgage Loans subject to the MERS identification system,
all subsequent assignments of the original Mortgage (other than the assignment to Buyer) have been recorded in the appropriate jurisdictions wherein such recordation is necessary to perfect the lien thereof as against creditors of Seller, or is in
the process of being recorded. 
 (hhh) FICO Scores. Other than with respect to (i) FHA, VA and RD streamlined Mortgage Loans
and (ii) Mortgage Loans where the related Mortgagor is a foreign national, each Mortgage Loan has a non-zero FICO score. 
 (iii)
Georgia Mortgage Loans. There is no Mortgage Loan that was originated on or after March 7, 2003 that is a “high cost home loan” as defined under the Georgia Fair Lending Act. 

(jjj) Illinois Mortgage Loans. All Mortgage Loans originated on or after September 1, 2006 secured by property located in Cook
County, Illinois are recordable at the time of origination. 
 (kkk) Subprime Mortgage Loans. No Mortgage Loan is a “Subprime
Home Loan” as defined in New York Banking Law 6-m, effective September 1, 2008. 
 (lll)
Balloon Mortgage Loans. No Mortgage Loan is a balloon mortgage loan that has an original stated maturity of less than seven (7) years. 

(mmm) Adjustable Rate Mortgage Loans. Each Mortgage Loan that is an adjustable rate Mortgage Loan and that has a residential loan
application date on or after September 13, 2007, complies in all material respects with the Interagency Statement on Subprime Mortgage Lending, 72 FR 37569 (July 10, 2007), regardless of whether the Mortgage Loan’s originator or Seller is
subject to such statement as a matter of law. 
 (nnn) Agency Mortgage Loans. Each Mortgage Loan that is subject to a Takeout
Commitment with an Agency as the Approved Investor had a principal balance at its origination that did not exceed such Agency’s conforming loan limits as of the Purchase Date. 

(ooo) Nontraditional Mortgage Loan. Each Mortgage Loan that is a “nontraditional mortgage loan” within the meaning of the
Interagency Guidance on Nontraditional Mortgage Product Risks, 71 FR 58609 (October 4, 2006), and that has a residential loan application date on or after September 13, 2007, complies in all material respects with such guidance, regardless of
whether the Mortgage Loan’s originator or Seller is subject to such guidance as a matter of law. 

  
 Sch. 1-14 

 (ppp) Mandatory Arbitration. No Mortgage Loan is subject to mandatory arbitration. 

(qqq) Federal Home Loan Bank. No Mortgage Loan sold by Seller hereunder is expressly prohibited by the Federal Home Loan Bank of New
York’s Member Products Guide. 
 (rrr) Wet Loans. With respect to each Mortgage Loan that is a Wet Loan, (i) if requested
by Buyer, such Mortgage Loan (other than a Mortgage Loan originated in the State of New York) is covered by a duly authorized, executed, delivered and enforceable Closing Protection Letter, and (ii) the Settlement Agent has been instructed in
writing by the applicable Seller to hold the related Mortgage Loan documents as agent and bailee for Buyer or Buyer agent and to promptly forward such Mortgage Loan documents to Custodian. 

(sss) Takeout Commitment. Unless otherwise approved by Buyer, each Purchased Asset is (a) eligible for sale to at least two
(2) Approved Investors (provided that only one (1) Approved Investor shall be needed if such Approved Investor is an Agency) or (b) covered by a Takeout Commitment (i) that does not exceed the availability under such Takeout
Commitment (taking into consideration mortgage loans which have been purchased by the respective Approved Investor under the Takeout Commitment and mortgage loan which Seller has identified to Buyer as covered by such Takeout Commitment);
(ii) conforms to the requirements and the specifications set forth in such Takeout Commitment and the related regulations, rules, requirements and/or handbooks of the applicable Approved Investor and (iii) is eligible for sale to and
insurance or guaranty by, respectively the applicable Approved Investor and applicable insurer. Each Takeout Commitment is a legal, valid and binding obligation of Seller enforceable against it in accordance with its terms, subject to applicable
bankruptcy, insolvency and similar laws affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law). 

(ttt) Prior Financing. Other than with respect to a Correspondent Mortgage Loan and unless otherwise agreed to by Buyer, no Mortgage
Loan has been subject to any other repurchase agreement or credit facility prior to the initial Purchase Date of such Mortgage Loan. 

(uuu) Borrower Benefit. Each HARP Mortgage Loan, as of the date of origination, meets the borrower benefit requirements as defined by
the Agency. 
 (vvv) Co-op Loan: Valid First Lien. With respect to each Co-op Loan, the related Mortgage is a valid, enforceable and
subsisting first security interest on the related Co-op Shares securing the related Proprietary Lease, subject only to (a) liens of the Co-op Corporation for unpaid assessments representing the Mortgagor’s pro rata share of the Co-op
Corporation’s payments for its blanket mortgage, current and future real property taxes, insurance premiums, maintenance fees and other assessments to which like collateral is commonly subject and (b) other matters to which like collateral
is commonly subject which do not materially interfere with the benefits of the security intended to be provided by the security interest. There are no liens 

  
 Sch. 1-15 

 
against or security interests in the Co-op Shares relating to each Co-op Loan (except for unpaid maintenance, assessments and other amounts owed to the related cooperative which individually or
in the aggregate will not have a material adverse effect on such Co-op Loan), which have priority equal to or over Seller’s security interest in such Co-op Shares. 

(www) Co-op Loan: Compliance with Law. With respect to each Co-op Loan, the related Co-op Corporation that owns title to the related
Co-op Project is a “cooperative housing corporation” within the meaning of Section 216 of the Internal Revenue Code, and is in material compliance with applicable federal, state and local laws which, if not complied with, could have a
material adverse effect on the Mortgaged Property. 
 (xxx) Co-op Loan: No Pledge. With respect to each Co-op Loan, there is no
prohibition against pledging the Co-op Shares or assigning the Proprietary Lease. With respect to each Co-op Loan, (i) the term of the related Proprietary Lease is longer than the term of the Co-op Loan, (ii) there is no provision in any
Proprietary Lease which requires the Mortgagor to offer for sale the Co-op Shares owned by such Mortgagor first to the Co-op Corporation, (iii) there is no prohibition in any Proprietary Lease against pledging the Co-op Shares or assigning the
Proprietary Lease and (iv) the Recognition Agreement is on a form of agreement published by Aztech Document Systems, Inc. as of the date hereof or includes provisions which are no less favorable to the lender than those contained in such
agreement. 
 (yyy) Co-op Loan: Acceleration of Payment. With respect to each Co-op Loan, each Assignment of Proprietary Lease
contains enforceable provisions such as to render the rights and remedies of the holder thereof adequate for the realization of the material benefits of the security provided thereby. The Assignment of Proprietary Lease contains an enforceable
provision for the acceleration of the payment of the unpaid principal balance of the Mortgage Note in the event the Co-op Unit is transferred or sold without the consent of the holder thereof. 

  
 Sch. 1-16 

 SCHEDULE 2 

RESPONSIBLE OFFICERS 
 SELLER
AUTHORIZATIONS 
 Any of the persons whose signatures and titles appear below are authorized, acting singly, to act for Seller under this Agreement:

  

					
	 Name
	  	 Title
	 	 Signature

			
	 JON FROJEN
	  	CFO	 	/s/ JON FROJEN
			
	 Diana Harvey
	  	Corporate Controller	 	/s/ Diana Harvey
			
	 ROBERT BERNABE
	  	SVP-TREASURER	 	/s/ ROBERT BERNABE

  
 Sch. 2-1 

 BUYER AUTHORIZATIONS 

Any of the persons whose signatures and titles appear below are authorized, acting singly, to act for Buyer under this Agreement: 

AUTHORIZED REPRESENTATIVES OF UBS BANK USA 
  

					
	 Name
	  	 Title
	 	 Signature

			
	 Gary Timmerman
	  	Managing Director	 	/s/ Gary Timmerman
			
	 Chi Ma
	  	Director	 	/s/ Chi Ma
			
	 Ari Lash
	  	Executive Director	 	/s/ Ari Lash
			
	 Steve Stewart
	  	Chief Credit Officer	 	/s/ Steve Stewart

  
 Sch. 2-2 

 SCHEDULE 3 

SCHEDULED INDEBTEDNESS 
 Warehouse Lines and
Amounts: 
  

					
			
	(1)	  	Bank of America	  	$300 million
			
	(2)	  	Wells Fargo	  	$200 million
			
	(3)	  	EverBank	  	$150 million (see MSR Lines below)
			
	(4)	  	Texas Capital Bank	  	$115 million
			
	(5)	  	Citibank	  	$125 million
			
	(6)	  	UBS	  	$550 million
			
	(7)	  	Jefferies	  	$425 million

 Mortgage Servicing Right Revolving Credit Facilties (“MSR Lines”): 

 

					
	(1)	  	NexBank (Secured by FHLMC MSRs)	  	$30 million
			
	(2)	  	EverBank (Secured by FNMA MSRs)	  	$50 million
		  	(This line amount is included as a sublimit in the total Warehouse Line amount shown above)

 Subordinated Debt: 
  

					
	(1)	  	Blue Mountain/Magnetar Sub-Debt	  	$80 million

 Capital Lease Lines: 
  

					
	(1)	  	Texas Capital Bank Lease Line	  	$10 million

  
 Sch. 3-1 

 EXHIBIT A 

REQUIRED LEGAL OPINIONS 
  

	1.	“Corporate” and “due diligence” opinions 

  

	 	(a)	Opinion party(ies) entity status (due formation, existence and good standing) under constitutive laws 

  

	 	(b)	Opinion party(ies) entity general power and authority 

  

	 	(c)	Entity action (authorization, execution and delivery of transaction agreements) (d) No-conflicts with charter and by-laws or other constitutive documents 

 

	 	(e)	No conflicts with agreements 

  

	 	(f)	No conflicts with judgments, orders or decrees No litigation or proceedings challenging the opinion party(ies) execution, delivery or performance of the transaction agreements 

 

	 	(g)	Opinion party(ies) not required to register under Investment Company Act 

  

	2.	Enforceability and related opinions 

  

	 	(a)	Enforceability of transaction agreements - legal, valid and binding obligations of and enforceable against opinion part(ies) signatory thereto 

 

	 	(b)	No conflicts with applicable laws 

  

	 	(c)	No governmental approvals, filings or notices required for opinion party(ies) execution, delivery and performance of transaction agreements 

 

	3.	Perfection and other UCC opinions 

  

	 	(a)	Creation of security interest under transaction agreements in opinion party(ies) right, title and interest in UCC Article 9 collateral 

 

	 	(b)	Filing-perfection of security interest in filing collateral 

  

	 	(c)	Possession-perfection and priority of security interest in mortgage notes and certificated securities (trust certificates of beneficial interest and pledged securities) 

 

	 	(d)	Control-perfection and priority of security interest in securities account(s) and deposit account(s) (if applicable) 

  
 Exh. A-1 

 EXHIBIT B 

FORM OF SELLER’S OFFICER’S CERTIFICATE 

The undersigned,                     of
loanDepot.com, LLC, a Delaware limited liability company (the “Seller”), hereby certifies as follows: 
 1. Attached hereto
as Exhibit 1 is a copy of the formation documents of the Seller, as certified by the Secretary of State of the State of Delaware. 

2. Neither any amendment to the formation documents of the Seller nor any other charter document with respect to the Seller has been filed,
recorded or executed since                  ,     , and no authorization for the filing, recording or execution of any such amendment or other
charter document is outstanding. 
 3. Attached hereto as Exhibit 2 is a true, correct and complete copy of the Bylaws of the Seller
as in effect as of the date hereof and at all times since                  ,     . 

4. Attached hereto as Exhibit 3 is a true, correct and complete copy of resolutions adopted by the Board of Directors of the Seller by
unanimous written consent on                  , 20     (the “Resolutions”). The Resolutions have not been further amended, modified
or rescinded and are in full force and effect in the form adopted, and they are the only resolutions adopted by the Board of Directors of the Seller or by any committee of or designated by such Board of Directors relating to the execution and
delivery of, and performance of the transactions contemplated by the Master Repurchase Agreement dated as of June 1, 2015 (the “Repurchase Agreement”), between the Seller and UBS Bank USA (the “Buyer”). 

5. The Repurchase Agreement is substantially in the form approved by the Resolutions or pursuant to authority duly granted by the Resolutions.

 6. The undersigned, as a officers of the Seller or as attorney-in-fact, are authorized to and have signed manually the Repurchase
Agreement or any other document delivered in connection with the transactions contemplated thereby, were duly elected or appointed, were qualified and acting as such officer or attorney-in-fact at the respective times of the signing and delivery
thereof, and were duly authorized to sign such document on behalf of the Seller, and the signature of each such person appearing on any such document is the genuine signature of each such person. 

 

					
	 Name
	  	 Title
	  	 Signature

		  		  	
		  		  	
		  		  	
		  		  	

  
 Exh. B-1 

 IN WITNESS WHEREOF, the undersigned has hereunto executed this Certificate as of
the    day of            , 20    . 
  

			
	LOAN DEPOT.COM, LLC, as Seller
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 Exh.B-2 

 Exhibit 3 to Officer’s Certificate of the Seller 

RESOLUTIONS OF SELLER 
 Action of
the Managing Members 
 Without a Meeting Pursuant to 

Section            of          
   
 The undersigned, being the directors of loanDepot.com, LLC, a limited liability company (the “Company”), do hereby
consent to the taking of the following action without a meeting and do hereby adopt the following resolutions by written consent pursuant to
Section            of            of the State of            : 

WHEREAS, it is in the best interests of the Company to transfer from time to time to Buyer Mortgage Loans against the transfer of funds by
Buyer, with a simultaneous agreement by Buyer to transfer to Company such Mortgage Loans at a date certain or on demand, against the transfer of funds by Company pursuant to the terms of the Repurchase Agreement (as defined below). 

NOW, THEREFORE, be it 

RESOLVED, that the execution, delivery and performance by the Company of the Master Repurchase Agreement (the “Repurchase
Agreement”) to be entered into by the Company and UBS Bank USA, as Buyer, substantially in the form of the draft dated June 1, 2015, attached hereto as Exhibit A, are hereby authorized and approved and that the [President] or
any [Vice President] (collectively, the “Authorized Officers”) of the Company be and each of them hereby is authorized and directed to execute and deliver the Repurchase Agreement to the Buyer with such changes as the officer
executing the same shall approve, his execution and delivery thereof to be conclusive evidence of such approval; 
 RESOLVED, that the
Authorized Officers hereby are, and each hereby is, authorized to execute and deliver all such aforementioned agreements on behalf of the Company and to do or cause to be done, in the name and on behalf of the Company, any and all such acts and
things, and to execute, deliver and file in the name and on behalf of the Company, any and all such agreements, applications, certificates, instructions, receipts and other documents and instruments, as such Authorized Officer may deem necessary,
advisable or appropriate in order to carry out the purposes of the foregoing resolutions. 
 RESOLVED, that the proper officers, agents and
counsel of the Company are, and each of such officers, agents and counsel is, hereby authorized for and in the name and on behalf of the Company to take all such further actions and to execute and deliver all such other agreements, instruments and
documents, and to make all governmental filings, in the name and on behalf of the Company and such officers are authorized to pay such fees, taxes and expenses, as advisable in order to fully carry out the intent and accomplish the purposes of the
resolutions heretofore adopted hereby. 
 Dated as
of:            ,    20 

  
 Exh. B-3 

 EXHIBIT C 

FORM OF SERVICER NOTICE 
 [Date]

 [                    ], as Servicer 

[ADDRESS] 

Attention:                     

 

	 	Re:	Master Repurchase Agreement, dated as of June 1, 2015 (the “Agreement”), between loanDepot.com, LLC (the “Seller”) and UBS Bank USA (the “Buyer”). 

Ladies and Gentlemen: 

[                    ] (the
“Servicer”) is servicing certain mortgage loans for Seller pursuant to that certain [                    ] (the “Servicing
Agreement”) between the Servicer and Seller. Pursuant to the Agreement, the Servicer is hereby notified that Seller has pledged to Buyer certain mortgage loans which are serviced by Servicer which are subject to a security interest in favor
of Buyer. 
 Upon receipt of a notice that an Event of Default has occurred under the Repurchase Agreement (a “Notice of Event of
Default”) from Buyer in which Buyer shall identify the mortgage loans which are then pledged to Buyer under the Agreement (the “Subject Mortgage Loans”), the Servicer shall segregate all amounts collected on account of such
Subject Mortgage Loans, hold them in trust for the sole and exclusive benefit of Buyer, and remit such collections in accordance with Buyer’s written instructions. Following such Notice of Event of Default, Servicer shall follow the
instructions of Buyer with respect to the Subject Mortgage Loans, and shall deliver to Buyer any information with respect to the Subject Mortgage Loans reasonably requested by Buyer. 

Notwithstanding any contrary information which may be delivered to the Servicer by Seller, the Servicer may conclusively rely on any
information or Notice of Event of Default delivered by Buyer, and Seller shall indemnify and hold the Servicer harmless for any and all claims asserted against it for any actions taken in good faith by the Servicer in connection with the delivery of
such information or Notice of Event of Default. 
 Please acknowledge receipt of this instruction letter by signing in the signature block
below and forwarding an executed copy to Buyer promptly upon receipt. Any notices to Buyer should be delivered to the following addresses: UBS Bank USA, 1285 Avenue of the Americas, New York, NY 10019; Attention: Gary Timmerman; Telephone:
(212) 649-8156; Facsimile: (212) 713-9640. 

  
 Exh. C-1 

 
			
	Very truly yours,
	
	LOANDEPOT.COM, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	ACKNOWLEDGED AND AGREED:
	
	 [                    ],

    as Servicer

		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	 UBS Bank USA,

    as Buyer

		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	
	By:	 	  

	Name:	 	
	Title:	 	

  
 Exh. C-2 

 EXHIBIT D 

FORM OF TRADE ASSIGNMENT 

                    (“Approved Investor”)

 [Insert Address and notice info] 
 Dear Ladies and Gentlemen
: 
 Attached to this Trade Assignment is a correct and complete copy of your confirmation of commitment (the
“Commitment”), [insert trade date], to purchase [insert description of Agency MBS] mortgage-backed pass-through securities (“Agency Securities”) at a purchase price of
$         from             on [insert Settlement Date] (the “Settlement Date”). 

Pursuant to this Trade Assignment, we assign $            of this
Commitment’s full amount to UBS Securities LLC (“UBS”), which assignment shall be effective and shall be fully enforceable by UBS on the Settlement Date. 

This is to confirm that (i) the form of this assignment conforms to the SIFMA guidelines, (ii) the Commitment is in full force and effect,
(iii) the Commitment has been assigned to UBS as security for the obligations of loanDepot.com, LLC , the “Seller” under that certain Master Repurchase Agreement, dated as of June 1, 2015, between Seller and UBS, whose acceptance
of such assignment is indicated below, [and] (iv) upon delivery of this trade assignment to you by UBS you will accept Seller’s direction set forth herein to pay UBS for such Agency Securities, [(v) you will accept delivery of such Agency
Securities directly from UBS, (vi) UBS is obligated to make delivery of such Agency Securities to you in accordance with the attached Commitment and (vii) you have released Seller from its obligation to deliver the Agency Securities to you
under the Commitment.] Payment will be made “delivery versus payment (DVP)” to UBS in immediately available funds. 

  
 Exh. D-1 

 If you have any questions, please call [SELLER CONTACT] at
(        )        -         immediately or contact him by fax at
(        )        -        . 
  

			
	 Very truly yours,
  

LOANDEPOT.COM, LLC

		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	Accepted and Agreed to:
	
	UBS SECURITIES LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 Exh. D-2 

 EXHIBIT E 

FORM OF POWER OF ATTORNEY 
 KNOW
ALL MEN BY THESE PRESENTS, that loanDepot.com, LLC (“Seller”) hereby irrevocably constitutes and appoints UBS Bank USA (“Buyer”) and any officer or agent thereof, with full power of substitution, as its true and
lawful attorney-in-fact with full irrevocable power and authority in the place and stead of Seller and in the name of Seller or in its own name, from time to time in Buyer’s discretion: 

(a) in the name of Seller, or in its own name, or otherwise, to take possession of and endorse and collect any checks, drafts, notes,
acceptances or other instruments for the payment of moneys due with respect to any assets purchased by Buyer under the Master Repurchase Agreement (as amended, restated or modified) dated June 1, 2015 (the “Assets”) 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 Buyer for the purpose of collecting any and all such moneys due with respect to any other assets whenever payable; 

(b) to pay or discharge taxes and liens levied or placed on or threatened against the Assets; 

(c) (i) to direct any party liable for any payment under any Assets to make payment of any and all moneys due or to become due thereunder
directly to Buyer or as Buyer shall direct; (ii) to 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 Assets;
(iii) to sign and endorse any invoices, assignments, verifications, notices and other documents in connection with any Assets; (iv) to commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent
jurisdiction to collect the Assets or any proceeds thereof and to enforce any other right in respect of any Assets; (v) to defend any suit, action or proceeding brought against Seller with respect to any Assets; (vi) to settle, compromise
or adjust any suit, action or proceeding described in clause (v) above and, in connection therewith, to give such discharges or releases as Buyer may deem appropriate; and (vii) generally, to sell, transfer, pledge and make any agreement
with respect to or otherwise deal with any Assets as fully and completely as though Buyer were the absolute owner thereof for all purposes, and to do, at Buyer’s option and Seller’s expense, at any time, and from time to time, all acts and
things which Buyer deems necessary to protect, preserve or realize upon the Assets and Buyer’s Liens thereon and to effect the intent of this Agreement, all as fully and effectively as Seller might do; 

(d) for the purpose of carrying out the transfer of servicing with respect to the Assets from Seller to a successor servicer appointed by
Buyer in its sole discretion and to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to accomplish such transfer of servicing, and, without limiting the generality of the
foregoing, Seller hereby gives Buyer the power and right, on behalf of Seller, without assent by Seller, to, in the name of Seller or its own name, or otherwise, prepare and send or cause to be sent “good-bye” letters to all mortgagors
under the Assets, transferring the servicing of the Assets to a successor servicer appointed by Buyer in its sole discretion; 

  
 Exh. E-1 

 (e) for the purpose of delivering any notices of sale to mortgagors or other third parties,
including without limitation, those required by law. 
 Seller hereby ratifies all that said attorneys shall lawfully do or cause to be done
by virtue hereof. This power of attorney is a power coupled with an interest and shall be irrevocable. 
 Seller also authorizes Buyer, from
time to time, to execute, in connection with any sale, any endorsements, assignments or other instruments of conveyance or transfer with respect to the Assets. 

The powers conferred on Buyer hereunder are solely to protect Buyer’s interests in the Assets and shall not impose any duty upon it to
exercise any such powers. Buyer shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to Seller for any
act or failure to act hereunder, except for its or their own gross negligence or willful misconduct. 
 TO INDUCE ANY THIRD PARTY TO ACT
HEREUNDER, SELLER HEREBY AGREES THAT ANY THIRD PARTY RECEIVING A DULY EXECUTED COPY OR FACSIMILE OF THIS INSTRUMENT MAY ACT HEREUNDER, AND THAT REVOCATION OR TERMINATION HEREOF SHALL BE INEFFECTIVE AS TO SUCH THIRD PARTY UNLESS AND UNTIL ACTUAL
NOTICE OR KNOWLEDGE OF SUCH REVOCATION OR TERMINATION SHALL HAVE BEEN RECEIVED BY SUCH THIRD PARTY, AND BUYER ON ITS OWN BEHALF AND ON BEHALF OF BUYER’S ASSIGNS, HEREBY AGREES TO INDEMNIFY AND HOLD HARMLESS ANY SUCH THIRD PARTY FROM AND AGAINST
ANY AND ALL CLAIMS THAT MAY ARISE AGAINST SUCH THIRD PARTY BY REASON OF SUCH THIRD PARTY HAVING RELIED ON THE PROVISIONS OF THIS INSTRUMENT. 

[REMAINDER OF PAGE INTENTIONALLY BLANK. SIGNATURES FOLLOW.] 

  
 Exh. E-2 

 IN WITNESS WHEREOF Seller has caused this power of attorney to be executed and Seller’s seal
to be affixed this      day of             , 20     . 
  

			
	 LOANDEPOT.COM, LLC

(Seller)

		
	By:	 	  

	Name:	 	
	Title:	 	

 Signature Page to the Power of Attorney 

 Acknowledgment of Execution by Seller (Principal): 

 

					
	STATE OF	 	                    )	  	
		 	                    )	  	ss.:
	COUNTY OF	 	                    )	  	

 On the      day of
                    , 2015 before me, the undersigned, a Notary Public in and for said State, personally appeared
                    , personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to
the within instrument and acknowledged to me that he executed the same in his capacity as                      for loanDepot.com, LLC and that by his
signature on the instrument, the person upon behalf of which the individual acted, executed the instrument. 
 IN WITNESS WHEREOF, I have
hereunto set my hand affixed my office seal the day and year in this certificate first above written. 
  

			
	  

	Notary Public
		
	My Commission expires	 	  

 Signature Page to the Power of Attorney 

 EXHIBIT F 

FORM OF TAX COMPLIANCE CERTIFICATE 

Reference is hereby made to the Master Repurchase Agreement dated as of June 1, 2015 (as amended, restated, supplemented or otherwise modified
from time to time, the “Agreement”), between loanDepot.com, LLC (the “Seller”) and UBS Bank USA (the “Buyer”). Pursuant to the provisions of Section 7 of the Agreement, the undersigned hereby
certifies that: 
  

	 	1.	It is a              natural individual person,              treated as a corporation for U.S.
federal income tax purposes,              disregarded for U.S. federal income tax purposes (in which case a copy of this Tax Compliance Certificate is attached in respect of its sole
beneficial owner), or              treated as a partnership for U.S. federal income tax purposes (one must be checked). 

 

	 	2.	It is the beneficial owner of amounts received pursuant to the Agreement. 

  

	 	3.	It is not a bank, as such term is used in section 881(c)(3)(A) of the Internal Revenue Code of 1986, as amended (the “Code”), or the Agreement is not, with respect to the undersigned, a loan
agreement entered into in the ordinary course of its trade or business, within the meaning of such section. 

  

	 	4.	It is not a 10-percent shareholder of Seller within the meaning of section 871(h)(3) or 881(c)(3)(B) of the Code. 

  

	 	5.	It is not a controlled foreign corporation that is related to Seller within the meaning of section 881(c)(3)(C) of the Code. 

  

	 	6.	Amounts paid to it under the Agreement and the other Program Documents (as defined in the Agreement) are not effectively connected with its conduct of a trade or business in the United States. 

Dated: 
  

			
	[NAME OF UNDERSIGNED]
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 Exh. F-1 

 EXHIBIT G 

FORM OF TEMPORARY INCREASE REQUEST 
 UBS Bank USA

 1285 Avenue of the Americas 
 New York, NY 10019 

Attention: Gary Timmerman 
 Telephone: (212) 649-8156 

Facsimile: (212) 713-9640 
 Email: Gary.Timmerman@ubs.com

 Re: The Master Repurchase Agreement, dated as of June 1, 2015 (the “Repurchase Agreement”), between UBS Bank USA
(“Buyer”) and loanDepot.com, LLC (“Seller”) 
 Ladies and Gentlemen: 

In accordance with Section 3(f) of the Repurchase Agreement, Buyer hereby consents to a Temporary Increase of the Maximum Aggregate
Purchase Price or the Maximum Committed Purchase Price as further set forth below: 
 Amount of Temporary Increase: $
                    . 
 Temporary Maximum Aggregate
Purchase Price: $                     . 
 Temporary
Maximum Committed Purchase Price: $                     . 

Effective date: [            ] 

Expiration date: [            ] 

On and after the effective date indicated above and until the expiration date indicated above, the Maximum Aggregate Purchase Price and/or
Maximum Committed Purchase Price (if applicable) shall equal the Temporary Maximum Aggregate Purchase Price and/or Temporary Maximum Committed Purchase Price, respectively, indicated above for all purposes of the Repurchase Agreement and all
calculations and provisions relating to the Maximum Aggregate Purchase Price and/or Maximum Committed Purchase Price shall refer to the Temporary Maximum Aggregate Purchase Price and/or Temporary Maximum Committed Purchase Price, respectively,
including without limitation, Concentration Limits. 
 Unless otherwise terminated pursuant to the Repurchase Agreement, this Temporary
Increase shall terminate on the expiration date indicated above. Upon the termination of this Temporary Increase, Seller shall repurchase Purchased Assets such that (i) the aggregate outstanding Purchase Price of all Transactions does not
exceed the Maximum Aggregate Purchase Price and (ii) the applicable portion of the aggregate outstanding Purchase Price of all Transactions does not exceed any Concentration Limit. 

  
 Exh. G-1 

 All terms used herein and not otherwise defined herein shall have the respective meanings
ascribed to such terms in the Repurchase Agreement. 
  

			
	LOANDEPOT.COM, LLC, as Seller
		
	By:	 	  

	Name:	 	
	Title:	 	

 Agreed and Consented by: 
  

			
	UBS BANK USA, as Buyer
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

 Date:
                     

  
 Exh. G-2

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