Document:

Amendment Number Five to Amended and Restated Master Repurchase Agreement

 Exhibit 10.22 
  
 AMENDMENT NUMBER FIVE 
 to 
 Amended and Restated Master Repurchase Agreement 
 dated as of May 13, 2002, amended and restated to and including May 21, 2004 
 between 

NEW CENTURY FUNDING A, a Delaware statutory trust, as Seller 
 and 
 BANK OF AMERICA, N.A., as Buyer 
  
 This AMENDMENT NUMBER FIVE (this “Amendment Number Five”) is made and is effective as of this 9th day of August 2005 (the “Effective Date”) between NEW CENTURY FUNDING A, a Delaware statutory trust
(“Seller”) and BANK OF AMERICA, N.A., a national banking association (“Buyer”). 
  
 RECITALS 
  
 A. Seller and Buyer entered into that certain Amended and Restated Master Repurchase Agreement dated as of May 13, 2002, amended and restated to and including May 21, 2004 (as amended, supplemented or otherwise modified from time
to time, the “Master Repurchase Agreement”). 
  
 B.
Seller has requested that Buyer further modify the Master Repurchase Agreement to extend the term thereof and make such other modifications to the Master Repurchase Agreement set forth herein and Buyer has agreed to make such modifications to the
Master Repurchase Agreement subject to the terms of this Amendment Number Five. 
  
 C. Seller and Buyer each have agreed to execute and deliver this Amendment Number Five on the terms and conditions set forth herein. 
  
 NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein and in the Master Repurchase
Agreement, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree to the following: 
  
 1. Miscellaneous. For all purposes of this Amendment Number Five, except as otherwise expressly provided or unless the context otherwise requires,
(a) unless otherwise defined herein, all capitalized terms used herein shall have the meanings attributed to them by the Master Repurchase Agreement, (b) the capitalized terms expressly defined in this Amendment Number Five have the
meanings assigned to them in this Amendment Number Five and include (i) all genders and (ii) the plural as well as the singular, (c) all references to words such as “herein”, “hereof” and the like shall refer to
this Amendment Number Five as a whole and not to any particular article or section within this Amendment Number Five, (d) the term “include” and all variations thereon shall mean “include without limitation”, and
(e) the term “or” shall include “and/or”. 

 2. Amendments. Effective as of the Effective Date, Section 27 of the Master Repurchase
Agreement is modified by deleting the section in its entirety and replacing it with the following: 
  
 27. TERMINATION 
  
 This Agreement shall remain in effect until the earlier of (i) September 15, 2005 or (ii) at Buyer’s option upon the
occurrence of an Event of Default (such date, the “Termination Date”). However, no such termination shall affect Seller’s outstanding obligations to Buyer at the time of such termination. Seller’s obligations to indemnify Buyer
pursuant to this Agreement shall survive the termination hereof. 
  
 3. No Other Changes. Except as expressly modified or amended in this Amendment Number Five, all of the terms, covenants, provisions, agreements and conditions of the Master Repurchase Agreement are hereby ratified and confirmed in
every respect and shall remain unmodified and unchanged and shall continue in full force and effect. 
  
 4. Representations. In order to induce the Buyer to execute and deliver this Amendment Number Five, the Seller hereby represents to the Buyer that
as of the date hereof, after giving effect to this Amendment Number Five, the Seller is in full compliance with all of the terms and conditions of the Master Repurchase Agreement and no default or Event of Default has occurred and is continuing
under the Master Repurchase Agreement. 
  
 5. Counterparts.
This Amendment Number Five may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall
constitute one and the same instrument. 
  
 6. Governing Law;
Waiver of Jury Trial. This Amendment Number Five shall be governed by, and construed in accordance with, the laws of the State of New York, and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with
such laws without regard to conflicts of laws principles. The parties hereto each hereby waive the right of trial by jury in any litigation arising hereunder. 
  

7. Miscellaneous. It is expressly understood and agreed by the parties hereto that (a) this Amendment is executed and delivered by
Christiana Bank & Trust Company, not individually or personally, but solely as owner trustee of the Seller, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and
agreements herein made on the part of the Seller is made and intended not as a personal representation, undertaking and agreement by Christiana Bank & Trust Company but is made and intended for the purpose for binding only the Seller,
(c) nothing herein contained shall be construed as creating any liability on the Christiana Bank & Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if
any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall the Christiana Bank & 

 
Trust Company be personally liable for the payment of any indebtedness or expenses of the Seller or be liable for the breach or failure of any obligation,
representation, warranty or covenant made or undertaken by the Seller under this Amendment or any other related documents. 
  
 [NO FURTHER TEXT ON THIS PAGE] 

 IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute this
Amendment Number Five to Master Repurchase Agreement as of the date first above written. 
  

					
	NEW CENTURY FUNDING A
		
	By:	 	 Christiana Bank & Trust Company,
 not in its individual capacity but solely
 as owner trustee

			
	 	 	By:	 	 /s/ James M. Young

	 	 	Name:	 	James M. Young
	 	 	Title:	 	Assistant Vice President
	
	BANK OF AMERICA, N.A.
		
	By:	 	/s/ Christopher G. Young
	Name:	 	Christopher G. Young
	Title:	 	Vice President

  

			
	ACKNOWLEDGED AND AGREED:
	
	 NEW CENTURY MORTGAGE CORPORATION,
 as Guarantor

		
	By:	 	 /s/ Kevin Cloyd

	Name:	 	Kevin Cloyd
	Title:	 	Executive Vice President
	
	 NEW CENTURY FINANCIAL CORPORATION,
 as Guarantor

		
	By:	 	 /s/ Kevin Cloyd

	Name:	 	Kevin Cloyd
	Title:	 	Executive Vice PresidentAmendment Number Seven to Amended and Restated Letter Agreement

 Exhibit 10.23 
  
 AMENDMENT NUMBER SEVEN 
 to the 
 Amended and Restated Letter Agreement 
 dated as of October 1, 2004 
 by and among 
 NEW CENTURY MORTGAGE CORPORATION 
 NC CAPITAL CORPORATION 
 NEW CENTURY CREDIT CORPORATION 
 and 

CITIGROUP GLOBAL MARKETS REALTY CORP. 
  
 This AMENDMENT NUMBER SEVEN (this “Amendment Number Seven”) is made this 28th day of September, 2005, among NEW CENTURY MORTGAGE
CORPORATION, having an address at 18400 Von Karman, Suite 1000, Irvine, California 92612 (“NC Mortgage”), NC CAPITAL CORPORATION, having an address at 18400 Von Karman, Suite 1000, Irvine, California 92612 (“NC
Capital”), NEW CENTURY CREDIT CORPORATION, having an address at 18400 Von Karman, Suite 1000, Irvine, California 92612 (“NC Credit”) and CITIGROUP GLOBAL MARKETS REALTY CORP., having an address at 390 Greenwich Street, New
York, New York 10013 (“Citigroup”) to the Amended and Restated Letter Agreement, dated as of October 1, 2004, among NC Mortgage, NC Capital, NC Credit and Citigroup, as amended (the “Letter Agreement”).

  
 RECITALS 
  
 WHEREAS, NC Mortgage, NC Capital and NC Credit have requested that Citigroup
agree to extend the termination date as more expressly set forth below and Citigroup has agreed to such request. 
  
 WHEREAS, as of the date of this Amendment Number Seven, each of NC Mortgage, NC Capital and NC Credit represents to Citigroup that it is in compliance
with all of the representations and warranties and all of the affirmative and negative covenants set forth in the Letter Agreement and the Amended and Restated Purchase and Sale Agreement, dated as of October 1, 2004, among NC Capital, NC
Credit and Citigroup (the “Purchase and Sale Agreement”) and is not in default under the Letter Agreement or the Purchase and Sale Agreement. 
  
 NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and of the mutual covenants herein
contained, the parties hereto hereby agree as follows: 
  
 SECTION
1. Effective as of September 28, 2005, the first paragraph of Section 1(a) of the Letter Agreement is hereby amended by deleting the words “September 30, 2005” on the second and third lines thereof and replacing each with
“December 29, 2005”. 

 SECTION 2. Effective as of September 28, 2005, the first paragraph of Section 4(c) of the
Letter Agreement is hereby amended by deleting the words “September 30, 2005” on the second and third lines thereof and replacing each with “December 29, 2005”. 
  
 SECTION 3. Fees and Expenses. NC Capital agrees to pay to Citigroup all fees and out of pocket expenses incurred by
Citigroup in connection with this Amendment Number Seven (including all reasonable fees and out of pocket costs and expenses of Citigroup’s legal counsel incurred in connection with this Amendment Number Seven), in accordance with
Section 5(i) of the Letter Agreement. 
  
 SECTION 4.
Defined Terms. Any terms capitalized but not otherwise defined herein shall have the respective meanings set forth in the Letter Agreement. 
  
 SECTION 5. Representations. In order to induce Citigroup to execute and deliver this Amendment Number Seven, NC Capital, NC Mortgage and NC Credit
hereby represent to Citigroup that as of the date hereof, after giving effect to this Amendment Number Seven, each of NC Capital, NC Mortgage and NC Credit is in full compliance with all of the terms and conditions of the Letter Agreement and the
Purchase and Sale Agreement and no Termination Event or material adverse change has occurred under the Letter Agreement and no Seller default or Seller Event of Default has occurred under the Purchase and Sale Agreement. 
  
 SECTION 6. Limited Effect. This Amendment Number Seven shall become
effective upon the execution hereof by the parties hereto. Except as expressly amended and modified by this Amendment Number Seven, the Letter Agreement shall continue in full force and effect in accordance with its terms. Reference to this
Amendment Number Seven need not be made in the Letter Agreement or any other instrument or document executed in connection therewith, or in any certificate, letter or communication issued or made pursuant to, or with respect to, the Letter
Agreement, any reference in any of such items to the Letter Agreement being sufficient to refer to the Letter Agreement as amended hereby. 
  
 SECTION 7. GOVERNING LAW. THIS AMENDMENT NUMBER SEVEN SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND THE OBLIGATIONS,
RIGHTS, AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS WITHOUT REGARD TO CONFLICT OF LAWS DOCTRINE APPLIED IN SUCH STATE (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
  
 SECTION 8. Counterparts. This Amendment Number Seven may be executed
by each of the parties hereto on any number of separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument. 
  
 [SIGNATURE PAGE FOLLOWS] 
  

 -2- 

 IN WITNESS WHEREOF, NC Capital, NC Mortgage, NC Credit and Citigroup have caused this Amendment Number
Seven to be executed and delivered by their duly authorized officers as of the day and year first above written. 
  

			
	CITIGROUP GLOBAL MARKETS REALTY CORP.
		
	 By:
	 	 /s/ Bobbie Theivakumaran

	 Name: 
	 	 Bobbie Theivakumaran

	 Title:
	 	 Authorized Agent

	
	NC CAPITAL CORPORATION
		
	 By:
	 	 /s/ Patrick Flanagan

	 Name: 
	 	 Patrick Flanagan

	 Title:
	 	 Chief Executive Officer

	
	NEW CENTURY MORTGAGE CORPORATION
		
	 By:
	 	 /s/ Patrick Flanagan

	 Name: 
	 	 Patrick Flanagan

	 Title:
	 	 President

	
	NEW CENTURY CREDIT CORPORATION
		
	 By:
	 	 /s/ Patrick Flanagan

	 Name: 
	 	 Patrick Flanagan

	 Title:
	 	 President

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