Document:

EX-10.50

 Exhibit 10.50 

EXECUTION 
 AMENDMENT NUMBER
FIFTEEN 
 to the 
 MASTER
REPURCHASE AGREEMENT 
 Dated as of December 9, 2010, 

among 
 PENNYMAC CORP., PENNYMAC
HOLDINGS, LLC and PENNYMAC LOAN SERVICES, LLC 
 and 

CITIBANK, N.A. 
 This AMENDMENT
NUMBER FIFTEEN (this “Amendment Number Fifteen”) is made this 13th day of May, 2014 (the “Effective Date”) among PENNYMAC CORP. and PENNYMAC HOLDINGS, LLC f/k/a PENNYMAC MORTGAGE INVESTMENT TRUST HOLDINGS I, LLC (each, a
“Seller” and jointly and severally, the “Seller” or “Sellers”), PENNYMAC LOAN SERVICES, LLC (“Servicer”) and CITIBANK, N.A. (“Buyer”), to the Master Repurchase
Agreement, dated as of December 9, 2010, among Sellers, Servicer and Buyer, as such agreement may be amended from time to time (the “Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings
assigned to such terms in the Agreement. 
 RECITALS 

WHEREAS, Sellers and Buyer have agreed to modify eligibility criteria as more specifically set forth herein; and 

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

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and for the mutual covenants
herein contained, the parties hereto hereby agree as follows: 
 SECTION 1. Amendments. Effective as of the Effective Date, the
Agreement is hereby amended as follows: 
 (a) Section 2 of the Agreement is hereby amended by deleting clause (15) to the
definition of “Eligible Loan” in its entirety and replacing it as follows (stricken language for emphasis): 
 “(15) which is
secured by a Mortgaged Property located in (i) the State of Massachusetts or in any state in which Servicer is not licensed or otherwise exempt from being licensed to service mortgage loans; (ii) the State of Georgia
(solely with respect to Loans sold by PMAC Holdings) or (iii) any other state in which the applicable Seller is not licensed to own mortgage loans; or” 

SECTION 2. Fees and Expenses. Sellers agree to pay to Buyer all reasonable out of pocket costs and expenses incurred by Buyer in
connection with this Amendment Number Fifteen (including all reasonable fees and out of pocket costs and expenses of the Buyer’s legal counsel) in accordance with Sections 23 and 25 of the Agreement. 

  

 SECTION 3. Representations. Each Seller and Servicer hereby represents to Buyer that
as of the date hereof, the Seller Parties are in full compliance with all of the terms and conditions of the Agreement and each other Program Document and no Default or Event of Default has occurred and is continuing under the Agreement or any other
Program Document. 
 SECTION 4. Binding Effect; Governing Law. This Amendment Number Fifteen shall be binding and inure to the
benefit of the parties hereto and their respective successors and permitted assigns. THIS AMENDMENT NUMBER FIFTEEN SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY, THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO THE CONFLICT OF
LAWS PRINCIPLES THEREOF (EXCEPT FOR SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW WHICH SHALL GOVERN). 
 SECTION 5.
Counterparts. This Amendment Number Fifteen may be executed by each of the parties hereto on any number of separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument.

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

[Signature Page Follows] 

 IN WITNESS WHEREOF, Sellers, Servicer and Buyer have caused this Amendment Number Fifteen to be
executed and delivered by their duly authorized officers as of the date hereof. 
  

			
	PENNYMAC CORP.
	(Seller)	 	
		
	By:	 	 /s/ Pamela Marsh

	Name:	 	Pamela Marsh
	Title:	 	Executive Vice President, Treasurer
	
	PENNYMAC HOLDINGS, LLC
	(Seller)	 	
		
	By:	 	 /s/ Pamela Marsh

	Name:	 	Pamela Marsh
	Title:	 	Executive Vice President, Treasurer
	
	PENNYMAC LOAN SERVICES, LLC,
	(Servicer)	 	
		
	By:	 	 /s/ Pamela Marsh

	Name:	 	Pamela Marsh
	Title:	 	Executive Vice President, Treasurer
	
	CITIBANK, N.A.
	(Buyer and Agent, as applicable)
		
	By:	 	 /s/ Susan Mills

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

 Acknowledged: 
  

			
	PENNYMAC MORTGAGE INVESTMENT TRUST
		
	By:	 	 /s/ Pamela Marsh

	Name:	 	Pamela Marsh
	Title:	 	Managing Director, Treasurer

  
 Amendment Number Fifteen to Master
Repurchase Agreement REIT-NPLEX-10.79

 Exhibit 10.79 

EXECUTION 
 AMENDMENT NO. 12

 TO MASTER REPURCHASE AGREEMENT 

Amendment No. 12, dated as of May 22, 2014 (this “Amendment”), among Credit Suisse First Boston Mortgage Capital
LLC (the “Buyer”), PennyMac Holdings, LLC (“PennyMac Holdings”), PennyMac Operating Partnership, L.P., in its capacity as a seller (“POP” and together with PennyMac Holdings, the
“Sellers”), PennyMac Mortgage Investment Trust and PennyMac Operating Partnership, L.P., in its capacity as a guarantor (each, a “Guarantor” and collectively, the “Guarantors”). 

RECITALS 
 The Buyer, the
Sellers and the Guarantors are parties to that certain Master Repurchase Agreement, dated as of March 29, 2012 (as amended by Amendment No. 1, dated as of July 25, 2012, Amendment No. 2, dated as of September 26, 2012,
Amendment No. 3, dated as of October 29, 2012, Amendment No. 4, dated as of June 1, 2013, Amendment No. 5, dated as of August 29, 2013, Amendment No. 6, dated as of September 27, 2013, Amendment No. 7,
dated as of October 1, 2013, Amendment No. 8, dated as of December 27, 2013, Amendment No. 9, dated as of December 31, 2013, Amendment No. 10, dated as of January 10, 2014, and Amendment No. 11, dated as of
February 21, 2014, the “Existing Repurchase Agreement”; and as further amended by this Amendment, the “Repurchase Agreement”). The Guarantors are parties to that certain Guaranty (the
“Guaranty”), dated as of March 29, 2012, as the same may be further amended from time to time, by the Guarantors in favor of Buyer. Capitalized terms used but not otherwise defined herein shall have the meanings given to them
in the Existing Repurchase Agreement and Guaranty, as applicable. 
 The Buyer, the Sellers and the Guarantors have agreed, subject to the
terms and conditions of this Amendment, that the Existing Repurchase Agreement be amended to reflect certain agreed upon revisions to the terms of the Existing Repurchase Agreement. As a condition precedent to amending the Existing Repurchase
Agreement, the Buyer has required the Guarantors to ratify and affirm the Guaranty on the date hereof. 
 Accordingly, the Buyer, the
Sellers and the Guarantors hereby agree, in consideration of the mutual promises and mutual obligations set forth herein, that the Existing Repurchase Agreement is hereby amended as follows: 

SECTION 1. Definitions. Section 2 of the Existing Repurchase Agreement is hereby amended by: 

1.1 deleting the definitions of “Aged Loan” and “Aging Limit” in their entirety and replacing them with the
following: 
 “Aged Loan” means, other than with respect to Pooled Mortgage Loans, an Aged 60 Day Loan, an
Aged 90 Day Loan or an Aged 270 Day Loan. 
 “Aging Limit” means with respect to Aged Loans other than Jumbo
Mortgage Loans, 90 days, and with respect to Aged Loans that are Jumbo Mortgage Loans, 270 days. 

  
 -1- 

 1.2 deleting the definition of “Aged 180 Day Loan” in its entirety and all
references thereto. 
 1.3 adding the following definition of “Aged 270 Day Loan” in its proper alphabetical order: 

“Aged 270 Day Loan” means a Jumbo Mortgage Loan which has been subject to a Transaction hereunder for a period
greater than 90 days but not greater than 270 days. 
 SECTION 2. Conditions Precedent. This Amendment shall become effective as of
May 19, 2014 (the “Amendment Effective Date”), subject to the satisfaction of the following conditions precedent: 

2.1 Delivered Documents. On the Amendment Effective Date, the Buyer shall have received the following documents, each of which shall be
satisfactory to the Buyer in form and substance: 
 (a) this Amendment, executed and delivered by duly authorized officers of
the Buyer, the Sellers and the Guarantors; 
 (b) Amendment No. 7 to that certain Pricing Side Letter, dated as of the
date hereof, executed and delivered by duly authorized officers of the Buyer, the Sellers and the Guarantors; and 
 (c) such
other documents as the Buyer or counsel to the Buyer may reasonably request. 
 SECTION 3. Representations and Warranties. Each
Seller hereby represents and warrants to the Buyer that it is in compliance with all the terms and provisions set forth in the Repurchase Agreement on its part to be observed or performed, and that no Event of Default has occurred and is continuing,
and hereby confirms and reaffirms the representations and warranties contained in Section 13 of the Repurchase Agreement. 
 SECTION 4.
Limited Effect. Except as expressly amended and modified by this Amendment, the Existing Repurchase Agreement shall continue to be, and shall remain, in full force and effect in accordance with its terms. 

SECTION 5. Counterparts. This Amendment may be executed by each of the parties hereto on any number of separate counterparts, each of
which shall be an original and all of which taken together shall constitute one and the same instrument. 
 SECTION 6. Severability.
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. 

SECTION 7. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE

  
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STATE OF NEW YORK WITHOUT REFERENCE TO THE CHOICE OF LAW PROVISIONS THEREOF. 

SECTION 8. Reaffirmation of Guaranty. The Guarantors hereby ratify and affirm all of the terms, covenants, conditions and
obligations of the Guaranty and acknowledge and agree that the term “Obligations” as used in the Guaranty shall apply to all of the Obligations of Sellers to Buyer under the Repurchase Agreement, as amended hereby. 

[Remainder of page intentionally left blank] 

  
 -3- 

 IN WITNESS WHEREOF, the parties have caused their names to be signed hereto by their respective
officers thereunto duly authorized as of the day and year first above written. 
  

			
	 Credit Suisse First Boston Mortgage Capital LLC, as Buyer

		
	By:	 	 /s/ Adam Loskove

		 	Name: Adam Loskove
		 	Title: Vice President
	
	 PennyMac Holdings, LLC, as Seller

		
	By:	 	 /s/ Pamela Marsh

		 	Name: Pamela Marsh
		 	Title: Executive Vice President, Treasurer
	
	 PennyMac Mortgage Investment Trust, as Guarantor

		
	By:	 	 /s/ Pamela Marsh

		 	Name: Pamela Marsh
		 	Title: Executive Vice President, Treasurer
	
	 PennyMac Operating Partnership, L.P., as Seller and Guarantor

		
	By:	 	PennyMac GP OP, Inc., its General Partner
		
	By:	 	 /s/ Pamela Marsh

		 	Name: Pamela Marsh
		 	Title: Executive Vice President, Treasurer

  
 Signature Page to
Amendment No. 12 to Master Repurchase Agreement

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