Document:

EX-10.22.13

 Exhibit 10.22.13 

 

Certain confidential information contained in this document, marked by brackets, has been omitted because it is both
(i) not material and (ii) would be competitively harmful if publicly disclosed 

 AMENDMENT NO. 13 TO MASTER REPURCHASE
AGREEMENT 
 This Amendment No. 13 to Master Repurchase Agreement, dated as of June 6, 2019 (this
“Amendment”), by and among Nomura Corporate Funding Americas, LLC (“Buyer”) and Finance of America Reverse LLC f/k/a Urban Financial of America, LLC (the “Seller”). 

RECITALS 
 Buyer and
Seller are parties to that certain Master Repurchase Agreement, dated as of April 2, 2015 (the “Existing Repurchase Agreement”; as amended by Amendment No. 1 to Master Repurchase Agreement, dated as of July 7, 2015,
Amendment No. 2 to Master Repurchase Agreement dated as of March 31, 2016, Amendment No. 3 to Master Repurchase Agreement dated as of January 17, 2017, Amendment No. 4 to Master Repurchase Agreement dated as of
March 30, 2017, Amendment No. 5 to Master Repurchase Agreement dated as of November 22, 2017, Amendment No. 6 to Master Repurchase Agreement dated as of December 6, 2017, Amendment No. 7 to Master Repurchase Agreement
dated as of February 28, 2018, Amendment No. 8 to Master Repurchase Agreement dated as of June 5, 2018, Amendment No. 9 to Master Repurchase Agreement dated as of August 20, 2018, Amendment No. 10 to Master Repurchase
Agreement dated as of September 26, 2018, Amendment No. 11 to Master Repurchase Agreement dated as of January 7, 2019, Amendment No. 12 to Master Repurchase Agreement dated as of February 22, 2019 and this Amendment, the
“Repurchase Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Existing Repurchase Agreement. 

Buyer and Seller 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. 
 Accordingly, Buyer and Seller 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. Existing Definitions. Section 2 of the Existing Repurchase Agreement is hereby amended by
deleting the introductory paragraph to the definition of “Asset Value” therein in its entirety and replacing it with the following: 

“Asset Value” shall mean, with respect to (x) each Eligible Mortgage Loan other than Home Safe Loan, as
of any date of determination, the product of (i) the related Purchase Price Percentage with respect to such Eligible Mortgage Loan and (ii) the lesser of (A) the Adjusted Principal Balance, (B) with respect to Pool Eligible HECM
Loans and Non-assignable Buyouts, the Market Value of such Pool Eligible HECM Loans or Non-assignable Buyouts, as applicable (expressed as a percentage of par and
subject to modification pursuant to the terms below), and (C) with respect to Assignable Buyouts, the related Maximum Claim Amount, (y) each Home Safe Loan, as of any date of determination, the lower of (I) the product of (i) the
applicable Purchase Price Percentage 
  

 for such Home Safe Loan and (ii) the Market Value of such Home Safe Loan (expressed as
a percentage of par and subject to modification pursuant to the terms below) and (II) the product of the Home Safe Percentage and the Adjusted Principal Balance of such Home Safe Loan, and (z) each related Ginnie Mae Security, the Purchase
Price of the Pooled Loans swapped for such Ginnie Mae Security, and thereafter, except where Buyer and Seller mutually agree otherwise, such Asset Value decreased by the amount without duplication, of any cash and Income received by Buyer and
applied to reduce the Purchase Price pursuant hereto. Without limiting the generality of the foregoing, Seller acknowledges that the Asset Value of a Purchased Asset may be reduced to zero by Buyer, or such other valuation as determined by Buyer in
its sole discretion, if: 
 SECTION 2. New Definitions. The Existing Repurchase Agreement is hereby amended by adding the
following definitions in proper alphabetical order: 
 “Home Safe Percentage” shall mean, with respect to
any Home Safe Loan, [***]; provided that with respect to any Home Safe Loan that is a Home Safe Select LOC Loan, such percentage shall automatically be (x) reduced by [***] on the date on which such Home Safe Loan becomes subject to a
Transaction for a period of [***] (whether or not consecutive) and (y) further reduced by an additional [***] every [***] thereafter while such Home Safe Loan remains subject to a Transaction (whether or not consecutive). 

“Home Safe Select LOC Loan” shall have the meaning set forth in the Pricing Side Letter. 

“Repurchase Price Adjustment Amount” shall mean, for each Purchased Asset that is a Home Safe Select LOC Loan,
on any Repurchase Price Adjustment Date, an amount equal to the positive difference (if any) between (i) the related Repurchase Price (excluding any amounts calculated pursuant to clause (B) of the definition thereof) for such Purchased
Asset as of such Repurchase Price Adjustment Date minus (ii) the Asset Value of such Purchased Asset calculated as of such Repurchase Price Adjustment Date. 

“Repurchase Price Adjustment Date” shall mean, with respect to any Purchased Asset that is a Home Safe Select
LOC Loan, each date (if any) on which a reduced Purchase Price Percentage and/or Home Safe Percentage is applicable to such Purchased Asset pursuant to the Pricing Side Letter or this Agreement, as applicable, as a result of an increase to the
number of days that such Purchased Asset is subject to a Transaction (whether or not consecutive). 
 SECTION 3. Repurchase Price
Adjustment. Section 3 of the Existing Repurchase Agreement is hereby amended by adding the following paragraph (i) immediately following paragraph (h) thereof: 

(i) Repurchase Price Adjustment. If, as of any date of determination, a Repurchase Price Adjustment Date occurs with
respect to any Purchased Asset that is a Home Safe Select LOC Loan, Seller shall remit the related Repurchase Price Adjustment Amount to Buyer within two (2) Business Days of such Repurchase Price Adjustment Date. 

  
 2 

 SECTION 4. Representations and Warranties. Schedule 1-A of the Existing Repurchase Agreement is hereby amended by deleting paragraph (l) thereof in its entirety and replacing it with the following: 

(l) No Construction Loans; HELOCs; Co-ops; Commercial Loans. No Mortgage Loan
(i) was made in connection with the construction or rehabilitation of a Mortgaged Property where construction loan proceeds are still being disbursed; (ii) was made in connection with facilitating the
trade-in or exchange of a Mortgaged Property; (iii) (x) is an open-ended home equity line of credit, unless such Mortgage Loan is a Home Safe Select LOC Loan or (y) second lien home equity line of
credit or (iv) is made to a private, cooperative housing corporation which owns or leases land and all or part of a building or buildings, including apartments, spaces used for commercial purposes and common areas therein and whose board of
directors authorizes the sale of stock and the issuance of a proprietary lease. No portion of any Mortgaged Property related to any Mortgage Loan is being used for commercial or mixed-use purposes. 

SECTION 5. Conditions Precedent. This Amendment shall become effective as of the date hereof, subject to the satisfaction of the
following conditions precedent: 
 (a) Buyer’s receipt of this Amendment, executed and delivered by the Seller and the
Buyer, which is reasonably satisfactory to Buyer in form and substance; and 
 (b) Buyer’s receipt of Amendment
No. 19 to Pricing Side Letter, executed and delivered by the Seller and the Buyer, which is reasonably satisfactory to Buyer in form and substance. 

SECTION 6. 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 and the execution of this Amendment. 

SECTION 7. Counterparts. This Amendment 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 Amendment by signing any such counterpart. Counterparts may be delivered electronically. 

SECTION 8. 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 9. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT
TO THE CONFLICT OF LAW PRINCIPLES THEREOF, OTHER THAN SECTION 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, WHICH SHALL GOVERN. 

[SIGNATURE PAGES FOLLOW] 

  
 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. 
  

			
	NOMURA CORPORATE FUNDING AMERICAS, LLC, as Buyer
		
	By:	 	 /s/ Sanil Patel

	Name: Sanil Patel
	Title: Managing Director

  

  
 Signature Page to
Amendment No. 13 to Master Repurchase Agreement 

 
			
	FINANCE OF AMERICA REVERSE LLC f/k/a URBAN FINANCIAL OF AMERICA, LLC
		
	By:	 	 /s/ Robert Conway

	Name: Robert Conway
	Title: Treasurer

  

  
 Signature Page to
Amendment No. 13 to Master Repurchase AgreementEX-10.22.14

 Exhibit 10.22.14 

AMENDMENT NO. 14 TO MASTER REPURCHASE AGREEMENT 

This Amendment No. 14 to Master Repurchase Agreement, dated as of March 27, 2020 (this “Amendment”), by and among
Nomura Corporate Funding Americas, LLC (“Buyer”) and Finance of America Reverse LLC f/k/a Urban Financial of America, LLC (the “Seller”). 

RECITALS 
 Buyer and
Seller are parties to that certain Master Repurchase Agreement, dated as of April 2, 2015 (the “Existing Repurchase Agreement”; as amended by Amendment No. 1 to Master Repurchase Agreement, dated as of July 7, 2015,
Amendment No. 2 to Master Repurchase Agreement dated as of March 31, 2016, Amendment No. 3 to Master Repurchase Agreement dated as of January 17, 2017, Amendment No. 4 to Master Repurchase Agreement dated as of
March 30, 2017, Amendment No. 5 to Master Repurchase Agreement dated as of November 22, 2017, Amendment No. 6 to Master Repurchase Agreement dated as of December 6, 2017, Amendment No. 7 to Master Repurchase Agreement
dated as of February 28, 2018, Amendment No. 8 to Master Repurchase Agreement dated as of June 5, 2018, Amendment No. 9 to Master Repurchase Agreement dated as of August 20, 2018, Amendment No. 10 to Master Repurchase
Agreement dated as of September 26, 2018, Amendment No. 11 to Master Repurchase Agreement dated as of January 7, 2019, Amendment No. 12 to Master Repurchase Agreement dated as of February 22, 2019, Amendment No. 13 to
Master Repurchase Agreement dated as of June 6, 2019 and this Amendment, the “Repurchase Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Existing Repurchase
Agreement. 
 Buyer and Seller 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. 
 Accordingly, Buyer and Seller 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. 

1.1 The definitions of “Facility Documents” and “Material Adverse Effect” in
Section 2 of the Existing Repurchase Agreement are hereby amended and restated in their respective entireties to read as follows: 

“Facility Documents” shall mean this Agreement, the Pricing Side Letter, the Custodial Agreement, a Servicer
Notice, if any, the Powers of Attorney, the Electronic Tracking Agreement, the Guaranty and the Collection Account Control Agreement.  

“Material Adverse Effect” shall mean a material adverse effect on (a) the Property, business, operations,
or financial condition of Seller, Guarantor or any Affiliate, (b) the ability of Seller, Guarantor or any Affiliate to perform its obligations under any of the Facility Documents to which it is a party, (c) the validity or enforceability
of any of the Facility Documents, (d) the rights and remedies of Buyer or any Affiliate under any of the Facility Documents, or (e) the timely payment of any amounts payable under the Facility Documents; in each case as determined by Buyer
in its sole discretion. 

 1.2 Section 2 of the Existing Repurchase Agreement is hereby
amended by adding the following new definitions thereto in proper alphabetical order: 
 “Guarantor” shall
mean Finance of America Holdings LLC. 
 “Guaranty” shall mean that certain Guaranty, dated as of
March 27, 2020, made by Guarantor in favor of Buyer, as the same may be amended, restated, supplemented or otherwise modified from time to time. 

SECTION 2. Hypothecation or Pledge of Purchased Assets. Section 10 of the Existing Repurchase Agreement
is hereby amended and restated in its entirety to read as follows: 
 Section 10. Hypothecation or Pledge of
Purchased Assets. 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. In furtherance, and not by limitation of, the foregoing, it is
acknowledged that each counterparty with which Buyer may engage in a transaction as contemplated hereunder is a repledgee as contemplated by Sections 9-207 and 9-623 of
the UCC (and the relevant Official Comments thereunder). Nothing contained in this Agreement shall obligate Buyer to segregate any Purchased Assets delivered to Buyer by Seller. 

SECTION 3. Events of Default. 

3.1 Section 14(h) of the Existing Repurchase Agreement is hereby amended and restated in its entirety to read as
follows: 
 (h) Insolvency Event. An Insolvency Event shall have occurred with respect to Seller or Guarantor; 

3.2 Section 14 of the Existing Repurchase Agreement is hereby further amended by replacing the “.”
appearing after paragraph (u) with “; or” and adding the following new paragraph (w) at the end thereof: 

(w) Guaranty. (i) Any representation, warranty or certification made or deemed made by Guarantor in the Guaranty or
any certificate furnished to Buyer pursuant to the provisions thereof shall prove to have been untrue or misleading in any material respect as of the time made or furnished or (ii) the failure of Guarantor to perform, comply with or observe any
term, covenant or agreement applicable to Guarantor contained in the Guaranty (including without limitation if Guarantor fails to make any payment when due, whether by acceleration, mandatory repurchase or otherwise, under the Guaranty). 

  
 2 

 SECTION 4. Indemnification and Expenses. Section 16(a)
of the Existing Repurchase Agreement is hereby amended and restated in its entirety as follows: 
 (a) Seller agrees to hold
Buyer, and its Affiliates and their officers, directors, employees, agents and advisors (each an “Indemnified Party”) harmless from and indemnify any Indemnified Party against all liabilities, losses, damages, judgments, costs and
expenses of any kind (including reasonable fees of counsel, and Taxes relating to or arising in connection with the ownership of the Purchased Assets, but excluding any Taxes otherwise addressed in Section 7 of this Agreement) which may be
imposed on, incurred by or asserted against such Indemnified Party (collectively, “Costs”), relating to or arising out of this Agreement, any other Facility 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 Facility Document or any transaction contemplated hereby or thereby (including, without limitation, any wire fraud or data or
systems intrusions), that, in each case, results from anything other than the Indemnified Party’s gross negligence or willful misconduct. For the avoidance of doubt “Costs” shall include Taxes that represent losses, damages, claims,
costs and expenses arising from any non-Tax claim. Without limiting the generality of the foregoing, Seller agrees to hold any Indemnified Party harmless from and indemnify such Indemnified Party against all
Costs with respect to all Purchased Assets, , that, in each case, results 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 any Purchased Assets for any sum owing thereunder, or to enforce any provisions of any Purchased Assets, Seller will save, indemnify 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 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
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 Facility Document or any transaction contemplated hereby or thereby, including
without limitation the reasonable fees and disbursements of its counsel. 
 SECTION 5. Due Diligence.
Section 19 of the Existing Repurchase Agreement is hereby amended and restated in its entirety as follows: 

Section 19. Due Diligence. Seller acknowledges that Buyer has the right to perform continuing due diligence reviews
with respect to the Mortgage Loans, Seller, Guarantor and Servicer, including, without limitation, financial information, organization documents, business plans, purchase agreements and underwriting purchase models for each pool of Mortgage Loans,
for purposes of verifying compliance with the representations, warranties and specifications made hereunder, or otherwise, and Seller agrees that (a) upon reasonable prior notice to Seller, 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 Asset Files and any and all documents, records, agreements, instruments
or 

  
 3 

 
information relating to such Mortgage Loans (the “Due Diligence Documents”) in the possession or under the control of Seller and/or the Custodian, or (b) upon request, Seller shall
create and deliver to Buyer within one (1) Business Day of such request, an electronic copy via email to Structuredfinancedesksecure@nomura.com, in a format acceptable to Buyer, of such Due Diligence Documents as Buyer may request. Seller also
shall make available to Buyer a knowledgeable financial or accounting officer for the purpose of answering questions respecting the Asset Files and the Mortgage Loans. Without limiting the generality of the foregoing, Seller acknowledges that
Buyer may purchase Purchased Assets from Seller and enter into additional Transactions with respect to the Mortgage Loans based solely upon the information provided by Seller to Buyer in the Asset 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 with respect to the Mortgage Loans 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. Seller further agrees that Seller shall pay all out-of-pocket costs and expenses incurred by Buyer in connection with Buyer’s activities
pursuant to this Section 19. Buyer may, based on such due diligence, require to change contractual terms and add protections it deems, in its absolute discretion, necessary to protect its rights in the Mortgage Loans

 SECTION 6. Assignability. Section 20(c) of the Existing Repurchase Agreement is hereby amended and
restated in its entirety to read as follows: 
 (c) Notwithstanding anything contained in
Section 31 hereof to the contrary, Buyer may, in connection with any assignment or participation or proposed assignment or participation pursuant to this Section 20, deliver a copy of this
Agreement and the other Facility Documents to the assignee or participant or proposed assignee or participant and 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 at least as restrictive as the confidentiality provisions of this Agreement. 
 SECTION 7.
Confidentiality. Section 31(a) of the Existing Repurchase Agreement is hereby amended by (1) deleting the “or” following clause (iii) thereof, (2) deleting the “.” following clause
(iv) thereof and replacing it with “, or” and (3) adding the following clause (v) immediately following clause (iv) thereof. 

  
 4 

 (v) Buyer determines such information is necessary or desirable to disclose
in connection with any transaction or potential transaction or any assignment, participation or potential assignment or participation described in Section 10 or Section 20 hereof. 

SECTION 8. Conditions Precedent. This Amendment shall become effective as of the date hereof, subject to the satisfaction of the
following conditions precedent: 
 (a) Buyer’s receipt of this Amendment, executed and delivered by the Seller and the
Buyer, which is reasonably satisfactory to Buyer in form and substance; 
 (b) Buyer’s receipt of Amendment No. 20
to Pricing Side Letter, executed and delivered by the Seller and the Buyer, which is reasonably satisfactory to Buyer in form and substance; and 

(c) Buyer’s receipt of a Guaranty, executed and delivered by Finance of America Holdings LLC in favor of Buyer, which is
reasonably satisfactory to Buyer in form and substance. 
 SECTION 9. 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 and the execution of this Amendment. 

SECTION 10. Counterparts. This Amendment 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 Amendment by signing any such counterpart. Counterparts may be delivered electronically. 

SECTION 11. 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 12. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT
TO THE CONFLICT OF LAW PRINCIPLES THEREOF, OTHER THAN SECTION 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, WHICH SHALL GOVERN. 

[SIGNATURE PAGES FOLLOW] 

  
 5 

 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. 
  

			
	 NOMURA CORPORATE FUNDING AMERICAS, LLC, as
Buyer

 
			
		
	By:	 	 /s/ Sanil Patel

 
			
	Name:	 	Sanil Patel
	Title:	 	Managing Director

 Signature Page to Amendment No. 14 to Master Repurchase Agreement 

 
			
	FINANCE OF AMERICA REVERSE LLC f/k/a URBAN FINANCIAL OF AMERICA, LLC

 
			
		
	By:	 	 /s/ Robert Conway

 

			
	Name:	 	Robert Conway
	Title:	 	Treasurer

 Signature Page to Amendment No. 14 to Master Repurchase Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00325-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00325-of-00352.parquet"}]]