Document:

Master Agreement, dated as of June 17, 2010

 Exhibit 10.28 
 June 17, 2010 
 Mr. Curt Byers 
 Vice President, Secondary Marketing Manager 
 HomeStreet Bank 

601 Union Street, Suite 2000 
 Seattle, WA 98101

  

	RE:	Master Agreement #: MA10042083 

	    	Master Commitment #: M10042083 

	    	Seller/Servicer #: 727808 

 Dear Mr. Byers:

 Enclosed is one original Master Agreement and Master Commitment together with any applicable attachments. 

In order to accept and confirm the terms of Freddie Mac’s offer, you must sign the original Master Agreement signature page in the space provided
and then fax or email that page by July 9, 2010 to: 
 Freddie Mac 

Attention: Ms. Cynthia Knox, Contracting Specialist 
 Fax: 571-382-4800 
 Email: contracting_department@freddiemac.com

 If the Master Agreement signature page is not executed and returned by the date specified, then Freddie Mac’s offer contained in the
Master Agreement, at Freddie Mac’s option, will be null and void. 
 If you have any questions, please contact your Account Manager,
Ms. Jennifer Kennelly at (206) 420-7134 or your Deal & Contract Manager, Ms. Linda Stone at (213) 337-4265. 
  

	
	Sincerely,
	
	/s/ Paul Mullings
	Paul Mullings
	Senior Vice President
	Single Family Sourcing

 Enclosures 

CK/727808_MAMC10042083_HomeStreet Bank/LJSE-84NNFH/JK 

 MASTER AGREEMENT 
 This Master Agreement #MA10042083 (this “Agreement”) dated as of June 17, 2010, (the “Agreement Date”) is made by and between Freddie Mac and HomeStreet Bank, Seller/Servicer
#727808 (“Seller”). 
 This Master Agreement incorporates the provisions of the Freddie Mac Single-Family Seller/Servicer Guide (the
“Guide”), and supplements the Guide. 
 Unless otherwise specified, the terms and conditions described in this Agreement shall apply
to Mortgages sold by Seller under a Master Commitment that incorporates this Agreement by reference. This Agreement does not entitle Seller to sell or obligate Freddie Mac to purchase Mortgages unless they have entered into a Master Commitment
incorporating the terms of this Agreement. 
 Master Agreement Amount: $200 million  

Effective Date for Delivery: June 22, 2010  
 Required Delivery Date: May 31, 2011  
 Overpurchase Tolerance: 10
percent 
 Discretionary Provisions: 
 During the term of this Agreement. Freddie Mac reserves the right to amend, supplement, revise or terminate, in whole or in part, any of the Discretionary Provisions identified on Exhibit 26 to the Guide.

 All Terms of This Master Agreement Are Discretionary Provisions: 
 Notwithstanding any other provision to the contrary in this Master Agreement, the Guide or any other Purchase Documents, effective for Mortgages with Settlement Dates on and after June 22, 2010,
Freddie Mac has the right to amend, supplement, revise or terminate any and all provisions of this Agreement, in whole or in part, immediately upon notice to Seller at any time during the remaining term of this Master Agreement. In particular, but
without limiting the foregoing, all provisions of this Master Agreement or any other Purchase Document that obligate Freddie Mac to provide Seller with 90 days’ (or any other number of days) prior written notice before modifying or terminating
the provision are superceded by this paragraph. 

  
 HomeStreet Bank 

Master Agreement # MA10042083 
 Page 1 —
6/17/2010 

 Special Underwriting Provisions: 
 Following is a table that identifies the waivers allowed to the Single-Family Seller/Servicer Guide (“the Guide”). Complete terms and conditions regarding these waivers may be found on the
Attachment and page referenced under the “Contract Reference” column. The waivers relate to the Sections of the Guide, which are listed in the “Guide Reference” column. 
 ALL MORTGAGE TYPES — ATTACHMENT 1 
  

							
	 Key Word
	  	 Waiver Title
	  	 Contract

Reference
	  	 Guide
Reference

	 Custodial Provisions
	  	Early Remittance for Mortgages Paid in Full	  	Page 1, #1	  	78.14
	 Documentation
	  	Special Exceptions for Living Trust Borrowers	  	Page 1, #2	  	22.l0(a), 22.10

  
 HomeStreet Bank 

Master Agreement # MA 10042083 
 Page 2 —
6/17/2010 

 Additional Provisions: 
 Following is a table identifying additional variances to provisions of the Guide or, if applicable, limitations on products or programs otherwise eligible under the Purchase Documents. Generally, the
provisions included in this Attachment will concern topics such as legal documentation, third-party originators, quality control, delivery or servicing of Mortgages sold under this Agreement. Complete terms and conditions regarding these provisions
may be found on the Attachment and page referenced under the “Contract Reference” column. The waivers relate to the Sections of the Guide, which are listed in the “Guide Reference” column. 

 

							
	 Key Word
	  	 Additional Provision Title
	  	 Contract
Reference
	  	 Guide
Reference

	 Additional Provisions
	  	Changes to Delivery Fee Terms	  	Page 1, #1, Attachment 3	  	N/A
	 Additional Provisions
	  	Special Requirements for Purchase of DU Mortgages/Collateral Documentation	  	Page 1, #2, Attachment 3	  	None

  
 HomeStreet Bank 

Master Agreement # MA10042083 
 Page 3 —
6/17/2010 

 Seller’s Execution of Master Commitments and Amendments: 

From time to time, Freddie Mac and Seller may negotiate Master Commitments incorporating the terms of this Master Agreement and/or amendments to this
Master Agreement. Freddie Mac will not require that such Master Commitments or amendments be executed and returned by Seller. Seller’s delivery of Mortgages shall be deemed Seller’s acceptance of all terms and conditions contained in such
Master Commitments and/or amendments, including, but not limited to, terms which impose any fee or require a credit enhancement related to the delivery of such Mortgages. The provisions of this paragraph shall apply also to any amendments to Master
Commitments. 
 IN WITNESS WHEREOF, the parties hereto have caused this Master Agreement to be duly executed by their respective authorized
representatives as of the date set forth above. 
  

							
	FREDDIE MAC	 		 		 	HOMESTREET BANK
				
	 /s/ Paul Mullings
	 		 	By:	 	 /s/ Curt Byers

	Paul Mullings	 		 	Name:	 	Curt Byers
	Senior Vice President	 		 	Title:	 	Vice President
	Single Family Sourcing	 		 		 	

 Reference 
 CK/727808_MAMC10042083_HomeStreet Bank/LJSE-84NNPH/JK 

  
 HomeStreet Bank 

Master Agreement # MA10042083 
 Page 4 —
6/17/2010 

 ATTACHMENT 1 
 SPECIAL UNDERWRITING PROVISIONS 
 ALL MORTGAGE TYPES 

 

	1.	Early Remittance for Mortgages Paid in Full 

 Although Seller’s financial institution no longer qualifies as an Eligible Depository as described in Guide Chapter 77, Freddie Mac will permit Seller, as Servicer, to continue to maintain Custodial
Accounts, subject to the following: 
 Notwithstanding the due dates specified in the Guide, with respect to all Mortgages
serviced for Freddie Mac, for Mortgages that are paid in full, Seller must report, deposit into the Custodial Account, and remit all funds due to us using our automated cash remittance system by 9:00 pm Eastern Time on the Business Day following the
date that the Mortgage is paid in full. The terms of Section 78.46 of the Guide shall apply should such funds not be made available to Freddie Mac on such Business Day. 
 In the event that the Servicer transfers the servicing of the Mortgages, the Transferee will not be subject to the reporting and remittance requirements above and will be required to comply with the
reporting and remittance requirements in the Guide. 
 Freddie Mac reserves the right to amend, supplement, revise or terminate
any or all of the provisions of this paragraph, in whole or in part, upon written notice to Seller during the term of this Master Agreement. 
  

	2.	Special Exceptions for Living Trust Borrowers 

 Mortgages with respect to which the Borrower is a living trust and: 
  

	 	•	 	 the Mortgage is secured by an Investment Property; and/or 

 

	 	•	 	 the loan applicant is either (i) the trustee on behalf of the living trust, provided the living trust qualifies for the loan, or (ii) the
settlor in an individual capacity, or (iii) a beneficiary of the living trust if such beneficiary is also a settlor of the living trust, are eligible for purchase, provided that: 

 

	 	(a)	such Mortgages otherwise comply with all the requirements of the Guide Section 22.10(a); and 

 

	 	(b)	the aggregate unpaid principal balance of such Mortgages which are delivered to Freddie Mac pursuant to this Agreement, must not exceed 20 percent of the aggregate
unpaid principal balance of all Mortgages purchased by Freddie Mac under this Agreement. 

  
 Special Underwriting
Provisions 
 All Mortgage Types 

MA10042083 — Attachment 1 
 Page 1 —
6/17/2010 

 ATTACHMENT 2 
 ADDITIONAL PROVISIONS/RESTRICTIONS 
  

	1.	Changes to Delivery Fee Terms 

 Although (i) other provisions of the Guide, (ii) this Master Agreement, (iii) certain Master Commitments entered into under this Master Agreement, or (iv) this Master Commitment, as
applicable, may provide or imply otherwise, Freddie Mac has the right to change: 
  

	 	(a)	the delivery fee provisions set forth in Guide Exhibit 19, Postsettlement Delivery Fees, upon prior written notice; and 

 

	 	(b)	any negotiated delivery fee rates set forth in this Master Commitment or other Master Commitments entered into under this Master Agreement, as applicable, upon prior
written notice to Seller, provided that with respect to negotiated delivery fee rate changes, the change is consistent with broad changes implemented by Freddie Mac for all Seller/Servicers with similar negotiated terms. 

 

	2.	Special Requirements for Purchase of DU Mortgages/Collateral Documentation 

 Mortgages underwritten using Fannie Mae’s Desktop Underwriter Automated Scoring System (such system, “DU”, such Mortgages “DU Mortgages”) are eligible for purchase provided that:

  

	 	(a)	each DU Mortgage must be either: 

  

	 	(i)	a 15-, 20- or 30-year fixed-rate Mortgage; or 

  

	 	(ii)	a 30-year, annually-adjusting, 3/1, 5/1, 7/1 or 10/1 fully amortizing ARM. 

 Any ARM submitted to DU must be submitted with the correct ARM plan as recommended in the Fannie Mae “Guide to Underwriting with DU” and supplements thereto (collectively, the “DU
Guide”); 
  

	 	(b)	the DU Mortgages comply with the maximum LTV/TLTV/HTLTV ratios limitations set forth in Guide Section 23.4, L33, and in the product specific sections of the Guide
or Seller’s other Purchase Documents, or in Fannie Mae’s requirements for DU Mortgages, whichever limitations are the most restrictive; 

  

	 	(c)	each DU Mortgage must comply with the following: 

  

	 	(i)	the Indicator Score must be at least 620; 

  
 Additional
Provisions/Restrictions 
 MA10042083 — Attachment 2 
 Page 1 — 6/17/2010 

	 	(ii)	the Borrower’s monthly debt payment-to-income ratio must not exceed 55 percent; 

 

	 	(d)	DU Mortgages may be super conforming Mortgages, provided that the original loan amount must not exceed $1 million and that the Mortgages must comply in all respects
with the requirements of Guide Chapter L33 and with the requirements of this paragraph, whichever are more restrictive; 

  

	 	(e)	the following DU Mortgages are ineligible for delivery under this special underwriting provision: 

 

	 	•	 	 Seasoned DU Mortgages; 

  

	 	•	 	 DU Mortgages secured by Manufactured Homes; 

  

	 	•	 	 DU Mortgages originated in accordance with a provision that is negotiated with Fannie Mae to be less restrictive than the DU Guide requirements and
modifies the DU decision in the DU Findings Report unless such Mortgages are otherwise specifically permitted under a provision in Seller’s Purchase Documents; 

 

	 	•	 	 DU Refi Plus Mortgages; 

  

	 	•	 	 Custom DU Mortgages originated with requirements less restrictive than the DU Guide requirements unless such Mortgages are otherwise specifically
permitted under a provision in Seller’s Purchase Documents; and 

  

	 	•	 	 Mortgages secured by second homes or Investment Properties where the Borrower on the second home or Investment Property Mortgage has individual and/or
joint ownership of more than four 1-4-unit properties that are financed, including the subject property; provided, however, ownership of commercial or multifamily (five or more units) real estate is not included in this limitation;

  

	 	(f)	each DU Mortgage must: 

  

	 	(i)	be evaluated using the version of DU that Fannie Mae requires for such Mortgage to be eligible for sale to Fannie Mae; 

 

	 	(ii)	be approved using accurate and complete data; 

  

	 	(iii)	except as described in (iv) below, receive a DU rating of Approve/Eligible; and 

  
 Additional
Provisions/Restrictions 
 MA10042083 — Attachment 2 
 Page 2 — 6/17/2010 

	 	(iv)	a Mortgage with a DU rating of ineligible that is an otherwise eligible super conforming Mortgage with a loan amount that is higher than the permanent loan limits
established by the Housing and Economic Recovery Act of 2008 (HERA) but complies with the higher temporary loan limits established by the American Reinvestment and Recovery Act of 2009 (ARRA) is eligible for delivery under this provision, provided
that the only reason for the ineligible rating is the higher loan amount. When DU is updated to account for Mortgages with the higher loan limits established by ARRA, Mortgages with DU ineligible ratings will no longer be eligible for delivery.
Refer to Freddie Mac Single Family Seller/Servicer Guide Bulletin 2009-9, Relief Refinance Mortgage and Super Conforming Mortgages (04/16/09) for more information on these temporary and permanent loan limits; 

 

	 	(g)	Seller must obtain and maintain in the DU Mortgage file the DU Findings Report and any supplements thereto that set forth the DU recommendation and any other
conditions; 

  

	 	(h)	each DU Mortgage must meet all applicable Fannie Mae credit requirements. In the event that Fannie Mae revises its credit requirements to be more restrictive, the DU
Mortgage must be originated in accordance with the more restrictive credit requirements. Seller may not elect to use a Freddie Mac requirement if a Fannie Mae DU Mortgage requirement is more restrictive; 

 

	 	(i)	each DU Mortgage must have mortgage insurance coverage that complies with the standard required coverage levels set forth in Guide Section 27.1(a);

  

	 	(j)	except as stated in paragraphs (i), (ii) and (iii) below, each DU Mortgage must be evaluated, processed and documented in accordance with the requirements,
whichever are more restrictive, in the DU Findings Report or the most recent DU Guide: 

  

	 	(i)	for DU Mortgages for which the DU Findings Report does not require Seller to verify and/or document the Borrower’s income and/or assets, Seller must document such
Mortgages in accordance with the Streamlined Accept Documentation requirements in Guide Section 37.22; provided, however, where DU does not require Seller to verify certain assets stated on the loan application because such stated assets are
not needed for closing, Seller is not required to document those stated assets in accordance with the Streamlined Accept Documentation requirements; 

  

	 	(ii)	 if the DU Findings Report or the most recent DU Guide requires Seller to establish the value of the Borrower’s current Primary Residence either
because such Primary Residence is on the market and the sale will not close before the Mortgage Note Date or because the Borrower is converting such Primary Residence to a second home or Investment

  
 Additional
Provisions/Restrictions 
 MA10042083 — Attachment 2 
 Page 3 — 6/17/2010 

	 	 
Property, such value must be established and must be evidenced by at least a Form 2055, Exterior-Only Inspection Residential Appraisal Report that meets the requirements of Guide Chapter 44 and a
Brokers Price Opinion is not permitted; and 

  

	 	(iii)	if the DU Mortgage is secured by a Condominium Unit, Seller must comply with both Fannie Mae’s and Freddie Mac’s requirements regarding general Condominium
Project representations and warranties; provided, however, if there is a conflict between a Fannie Mae and a Freddie Mac requirement, Seller must comply with the more restrictive requirement; 

 

	 	(k)	with respect to each DU Mortgage, Seller will be relieved of any representations and warranties relating to Borrower’s credit reputation and capacity to repay the
Mortgage; 

  

	 	(1)	Seller must obtain and maintain in the DU Mortgage file an appraisal or property inspection report that complies with the requirements of the DU Findings Report. DU
Mortgages with DU Form 2075 and Property Inspection Waivers (“PIWs”) may not be delivered to Freddie Mac; 

  

	 	(m)	Seller must deliver DU Mortgage to Freddie Mac no later than the earlier of the date permitted under Seller’s Purchase Documents or the date such Mortgage would be
eligible for delivery to Fannie Mae; 

  

	 	(n)	unless specifically permitted in the Purchase Documents, MyCommunity Mortgages and DU Flex Mortgages are not eligible for sale under this Special Underwriting
Provision; 

  

	 	(o)	notwithstanding any provision to the contrary set forth in the Guide, DU Mortgages will not be assessed CS/LTV delivery fees (also referred to as A-minus fees);
however, DU Mortgages will be assessed any other applicable delivery fees described in Guide Exhibit 19 and the Delivery Fee Matrix attached to the Master Commitment under which the DU Mortgages are delivered; 

 

	 	(p)	in connection with the delivery of each DU Mortgage, Seller must enter the special characteristic code 943, indicating DU Mortgage without CS/LTV fee, in one of the
special characteristic code fields on the Form 11 or Form 13SF, as applicable; and 

  

	 	(q)	Freddie Mac may amend, supplement, revise or terminate the provisions applicable to DU Mortgages, in whole or in part, upon written notice to Seller during the term of
this Master Agreement. 

  
 Additional
Provisions/Restrictions 
 MA10042083 — Attachment 2 
 Page 4 — 6/17/2010 

 MASTER COMMITMENT 

 

			
	Master Agreement #: MA10042083	 	
		
	Master Commitment #: M10042083	 	Date Issued: June 17, 2010

 This
Master Commitment (“Master Commitment”) #M10042083 dated as of June 17, 2010 (“Master Commitment Date”) is by and between Freddie Mac and HomeStreet Bank (“Seller”), Seller/Servicer #727808. This Master Commitment
establishes the terms and conditions under which mortgages may be eligible for purchase by Freddie Mac. 
 The provisions of Master Agreement
#MA10042083 shall apply to and be incorporated into this Master Commitment #M10042083. 
 SELLER INFORMATION 

 

					
	 Seller/Servicer Name & Address:
	  	 Seller/Servicer Number:

	 HomeStreet Bank
 601 Union
Street, Suite 2000
 Seattle, WA 98101
	  	727808
			
	 Contact Person:
	  	 Phone Number:
	  	 Fax Number:

			
	 Mr. Curt Byers
 Vice
President, Secondary Marketing Manager
	  	(206) 389-7727	  	(206) 389-6306

 TERMS OF MASTER COMMITMENT

  

					
	 Contract Commitment Amount:
	 	 Effective Date for Delivery:
	 	 Required Delivery Date:

	 $200 million
	 	June 22, 2010	 	December 31, 2010
			
	 Commitment Type:
	 	 Purchase Tolerance:
	 	 Delivery Fee Exhibit:

	 Optional
	 	10% overpurchase	 	See Guide Exhibit 19 for Related Fees

  
 HomeStreet Bank 

Master Commitment # M10042083 
 Page 1 —
6/17/2010 

 REQUIRED SPREADS AND BUYUP MAXIMUMS 
 (Effective for Settlements on or after July 1, 2010) 
  

					
	 Product
	  	 Required Spread
	  	 Maximum Buyup

	 FIXED-RATE MORTGAGES*
	  	 Eligible Mortgages shall be sold

pursuant to the terms of Attachment 1,
 titled “Noncontractual Monthly
 Required Spreads”

	 15-year Fixed-Rate Mortgages (Monthly)
	  
	 20-year Fixed-Rate Mortgages (Monthly)
	  
	 30-year Fixed-Rate Mortgages (Monthly)
	  

  

	*	Effective for Settlements on or after July 1, 2010: The Buyup Maximums in this table apply to MIDANET conversions only. For Fixed-Rate (including Initial Interest
and Balloon/Reset) Mortgages sold under this Master Commitment under the Guarantor and MultiLender Swap Contracts taken out through the Selling System, see the paragraph of this Agreement titled “Provisions relating to Loan-Level
Buyup/Buydown”. 

  
 HomeStreet Bank 

Master Commitment # M10042083 
 Page 2 —
6/17/2010 

 Special Programs and Products: 
 Following is a table that identifies the programs and products for which Seller is eligible under this Agreement. Complete terms and conditions regarding the program/product may be found in the Sections
of the Single-Family Seller/Servicer Guide (“the Guide”), which are listed in the “Guide Reference” column or in the Attachment referenced under the “Contract Reference” column. 

 

							
	 Key Word
	 	 Program/Product Title
	 	 Contract
Reference
	 	 Guide
Reference

	 Additional Provisions
	 	Noncontractual Monthly Required Spreads	 	Attachment 1	 	None

 Special Pricing Provisions: 

Following is a table identifying special provisions concerning the calculation of Required Spreads, delivery fees, buyups/buydowns, remittance programs or
other pricing related programs or processes for Mortgages sold under this Agreement. Complete terms and conditions regarding these provisions may be found in the Attachment referenced under the “Contract Reference” column. 

 

							
	 Key Word
	 	 Special Pricing Provision Title
	 	 Contract
Reference
	 	 Guide
Reference

	 Additional Provisions
	 	Provisions Relating to Loan-Level Buyup/Buydown	 	Page 1, #1,
Attachment 2	 	 ll.ll(d),
 Exhibit
19

  
 HomeStreet Bank 

Master Agreement # MA10042083 
 Page 3 —
6/17/2010 

 ATTACHMENT 1 
 Noncontractual Monthly Required Spreads 
 (Effective for Settlements on or
after July 1, 2010) 
 Seller and Freddie Mac have agreed upon the following with respect to the determination of Required Spreads for
fixed-rate Mortgages beginning with settlements in the month of July, 2010. 
  

	(a)	“Eligible Mortgages” are defined as 15-, 20- and 30-year fixed-rate Mortgages. 

 

	(b)		(i)	 The Pricing Day is the day of the month on which Freddie Mac establishes Required Spreads. The Pricing Day will be the 6th Business Day of each month. 

 

	 	(A)	By no later than 10:00 am Eastern time on the Pricing Day, Freddie Mac shall establish the monthly Required Spread(s) for Eligible Mortgages; and

  

	 	(B)	By no later than 5:00 pm Eastern time on the Pricing Day, Freddie Mac shall notify Seller by telephone, facsimile or email of the monthly Required Spread(s).

  

	 	(ii)	The Required Spread(s) determined above will be effective for Settlements occurring in the calendar month immediately following the month in which the Pricing Day
occurs. 

  

	(c)	If this Master Commitment is executed on or after the Pricing Day, then within one Business Day of Seller providing Freddie Mac with an executed copy of the Master
Commitment, Freddie Mac shall establish the monthly Required Spread for Eligible Mortgages sold during the first month of the Master Commitment and shall so notify Seller. In all such cases, Required Spreads for Mortgages sold to Freddie Mac in
subsequent months shall be determined in accordance with paragraph (b) above. 

  

	(d)	Seller may only enter into such Conversions after Seller has received notification of the monthly Required Spreads in accordance with paragraph (b) or
(c) above, as applicable. 

  

	(e)	When Seller enters into a Conversion, Seller must state the Settlement Date. 

  
 Special Programs and Products

 Noncontractual Monthly Required Spreads 
 M10042083 — Attachment 1 
 Page 1 — 6/17/2010 

 ATTACHMENT 2 
 Provisions Relating to Loan-Level Buyup/Buydown 
  

	(a)	Loan-level Buyup/Buydown. For fixed-rate (including Balloon/Reset) Mortgages sold under this Master Commitment under the Guarantor and MultiLender Swap Programs through
the Freddie Mac Selling System (Selling System) only, Seller has elected the Loan-level buyup and buydown option as described in this paragraph. 

  

	 	(i)	Seller’s election will apply to all Mortgages allocated to fixed-rate Guarantor and MultiLender Swap contracts taken out in the Selling System under this Master
Commitment. 

  

	 	(ii)	When taking out a fixed-rate Guarantor Contract or MultiLender Swap Contract in the Selling System, Seller must complete the field titled “LLBUBD Option” on
the Form 11, Mortgage Submission Schedule, indicating: 

 BU (Loan-level buyup) 

BD (Loan-level buydown) 
 NA (Neither; loan-level buydown will not apply) 
  

	 	(iii)	If Seller elects to do a Loan-level buyup, Seller must specify in the field titled “LLBUBD Amount” on the Form 11 how much, in basis points, Seller wishes to
buy up (increase) the Required Spread for each individual Mortgage allocated to that specific Guarantor or MultiLender Swap Contract. 

 If Seller elects to do a Loan-level buydown, Seller must specify in the field titled “LLBUBD Amount” on the Form 11 how much, in basis points, Seller wishes to buydown (decrease) the Required
Spread for each individual Mortgage allocated to that specific Guarantor or MultiLender Swap Contract. 
 If Seller elects to do
neither a Loan-level buyup or buydown (“NA”), then Seller may enter “0” in the LLBUBD Amount field or may leave the LLBUBD Amount field blank. 
  

	 	(iv)	The initial maximum buyup amount for fixed-rate (including Balloon/Reset) Mortgages sold under the fixed-rate Guarantor and MultiLender Swap Program under this Master
Commitment through the Selling System is the lesser of: 

  

	 	•	 	 25 basis points, or 

  

	 	•	 	 the maximum buyup amount permitted by applicable pooling rule limitations for a PC Coupon. 

  
 Special Pricing Provisions

 Provisions Relating to Loan-Level Buyup/Buydown 
 M10042083 — Attachment 2 
 Page 1 — 6/17/2010 

	 	(v)	The initial maximum buydown amount applicable to fixed-rate (including Balloon/Reset) Mortgages sold under the fixed-rate Guarantor and MultiLender Swap Program under
this Master Commitment through the Selling System is 25 basis points. 

  

	 	(vi)	Seller may update the specified loan-level buyup or buydown amount, as applicable, on the Form 11 until the contract is in settlement locked status.

  

	 	(vii)	For settlements during the term of this Master Commitment, Freddie Mac will email Seller the Loan-level buyup and buydown grids that will be applicable to Mortgages
funding during the settlement month (the month in which the Mortgages will be sold to Freddie Mac). 

  

	 	(viii)	For Mortgages sold with Loan-level buyup/buydown, the amount paid by Freddie Mac or paid by Seller will be determined on a loan-by-loan basis using the applicable buyup
or buydown grid. 

  

	 	(ix)	Seller must follow the Loan-level buyup and buydown instructions provided in the Selling System. 

 

	 	(x)	Mortgages sold under WAC ARM Contracts are not eligible for Loan-level buyup and buydown. Additionally, any provisions of the Guide to the contrary notwithstanding,
Seller may not request contract-level buyup or buydown for Mortgages sold under the WAC ARM Guarantor program through the Selling System under this Master Commitment; 

 

	(b)	Freddie Mac’s Right to Change Maximum Buyup Amount. Freddie Mac reserves the right to change the maximum buyup amount at any time during the term of this Master
Commitment upon written notice to Seller. Such written notice shall be provided in an amendment to this Master Commitment, unless the new maximum buyup amount(s) is provided pursuant to a related change to Seller’s Required Spread(s) pursuant
to another specially negotiated pricing term included in this Master Commitment, in which event such notice may be provided electronically by email or by telephone with the new Required Spread(s) pursuant to that negotiated term; and

  

	(c)	Freddie Mac’s Right to Modify this Provision. Freddie Mac may amend, supplement, revise or terminate any of the terms of this provision, in whole or in part, upon
written notice to Seller during the term of this Master Commitment. 

  
 Special Pricing Provisions

 Provisions Relating to Loan-Level Buyup/Buydown 
 M10042083 — Attachment 2 
 Page 2 — 6/17/2010Cash Pledge Agreement

 Exhibit 10.29 
 Execution Draft 
 CASH PLEDGE AGREEMENT 

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

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

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

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

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

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

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

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

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

  
 2 

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

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

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

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

  
 3 

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

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

  
 4 

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

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

  
 5 

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

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

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

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

  
 6 

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

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

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

  
 7 

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

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

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

  
 8 

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

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

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

  
 9 

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

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

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

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

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

  
 10 

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

  
 11 

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

  
 12 

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

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

continued from page 12] 

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

 

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

  
 13

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