Document:

Amended and Restated Indenture Supplement

 Exhibit 4.6 

EXECUTION COPY 
  

 
  

NRZ SERVICER ADVANCE RECEIVABLES TRUST CS, 

as Issuer 
 and 

WELLS FARGO BANK, N.A., 
 as
Indenture Trustee, Calculation Agent, Paying Agent and Securities Intermediary 
 and 

NATIONSTAR MORTGAGE LLC, 
 as
Subservicer and as Servicer (prior to the respective MSR Transfer Dates) 
 and 

ADVANCE PURCHASER LLC, 
 as
Administrator and as Servicer (on and after the respective MSR Transfer Dates) 
 MORGAN STANLEY BANK, N.A., 

as Administrative Agent 
  

 
 SERIES 2013-VF3

 AMENDED AND RESTATED INDENTURE SUPPLEMENT 

Dated as of December 17, 2013 

to 
 AMENDED AND RESTATED
INDENTURE 
 Dated as of December 17, 2013 
  

 
 ADVANCE
RECEIVABLES BACKED NOTES, 
 SERIES 2013-VF3 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	PAGE	 
			
	SECTION 1.	 	 CREATION OF SERIES 2013-VF3 NOTES.
	  	 	2	  
			
	SECTION 2.	 	 DEFINED TERMS.
	  	 	2	  
			
	SECTION 3.	 	 FORMS OF SERIES 2013-VF3 NOTES.
	  	 	16	  
			
	SECTION 4.	 	 SERIES RESERVE ACCOUNT.
	  	 	16	  
			
	SECTION 5.	 	 COLLATERAL VALUE EXCLUSIONS.
	  	 	17	  
			
	SECTION 6.	 	 PAYMENTS; NOTE BALANCE INCREASES; EARLY
MATURITY; OTHER ADVANCE RATE REDUCTION EVENTS.
	  	 	19	  
			
	SECTION 7.	 	 EXTENSION OF EXPECTED REPAYMENT DATE.
	  	 	20	  
			
	SECTION 8.	 	 DETERMINATION OF NOTE INTEREST RATE AND
LIBOR.
	  	 	21	  
			
	SECTION 9.	 	 INCREASED COSTS.
	  	 	22	  
			
	SECTION 10.	 	 SERIES REPORTS.
	  	 	24	  
			
	SECTION 11.	 	 CONDITIONS PRECEDENT SATISFIED.
	  	 	26	  
			
	SECTION 12.	 	 REPRESENTATIONS, WARRANTIES AND COVENANTS.
	  	 	26	  
			
	SECTION 13.	 	 AMENDMENTS.
	  	 	26	  
			
	SECTION 14.	 	 COUNTERPARTS.
	  	 	27	  
			
	SECTION 15.	 	 ENTIRE AGREEMENT.
	  	 	27	  
			
	SECTION 16.	 	 LIMITED RECOURSE.
	  	 	27	  
			
	SECTION 17.	 	 OWNER TRUSTEE LIMITATION OF LIABILITY.
	  	 	27	  
			
	SECTION 18.	 	 CONSENT AND ACKNOWLEDGEMENT OF AMENDMENTS.
	  	 	28	  
			
	SECTION 19.	 	 AUTHORIZED REPRESENTATIVES AND WIRE INSTRUCTIONS
OF THE ADMINISTRATIVE AGENT.
	  	 	28	  

  
 -i- 

 THIS AMENDED AND RESTATED SERIES 2013-VF3 INDENTURE SUPPLEMENT (this “Indenture
Supplement”), dated as of December 17, 2013, is made by and among NRZ SERVICER ADVANCE RECEIVABLES TRUST CS, a statutory trust organized under the laws of the State of Delaware (the “Issuer”), WELLS FARGO BANK, N.A., a
national banking association, as trustee (the “Indenture Trustee”), as calculation agent (the “Calculation Agent”), as paying agent (the “Paying Agent”) and as securities intermediary (the
“Securities Intermediary”), ADVANCE PURCHASER LLC, a limited liability company under the laws of the State of Delaware (“Advance Purchaser”), as Administrator on behalf of the Issuer, as owner of the rights
associated with the servicing rights under the Designated Servicing Agreements, and, from and after the respective MSR Transfer Dates for each Designated Servicing Agreement, as servicer under such Designated Servicing Agreement, NATIONSTAR MORTGAGE
LLC, a limited liability company organized in the State of Delaware (“Nationstar”), as a Subservicer, and as servicer for each Designated Servicing Agreement prior to the respective MSR Transfer Dates, and MORGAN STANLEY BANK, N.A.,
a national banking association (“Morgan Stanley”), as Administrative Agent (as defined below); and consented to by 100% of the Noteholders of the Series 2013-VF3 Variable Funding Notes. This Indenture Supplement relates to and is
executed pursuant to that certain Amended and Restated Indenture (as amended, supplemented, restated or otherwise modified from time to time, the “Base Indenture”) supplemented hereby, dated as of December 17, 2013, among the
Issuer, Nationstar, Advance Purchaser, the Administrator, the Indenture Trustee, the Calculation Agent, the Paying Agent, the Securities Intermediary, Credit Suisse AG, New York Branch, as Administrative Agent, and the other “Administrative
Agents” from time to time parties thereto; and consented to by 100% of the Outstanding Noteholders all the provisions of which are incorporated herein as modified hereby and shall be a part of this Indenture Supplement as if set forth herein in
full (the Base Indenture as so supplemented by this Indenture Supplement being referred to as the “Indenture”). 

Capitalized terms used and not otherwise defined herein shall have the respective meanings given them in the Base Indenture. 

PRELIMINARY STATEMENT 

The Issuer entered into an Indenture Supplement, dated as of October 29, 2013 (as amended, restated, supplemented or otherwise modified
from time to time prior to the Effective Date, the “Original Supplement”), among the Issuer, the Indenture Trustee, Nationstar, as administrator and as servicer, and Morgan Stanley, as Administrative Agent. Under the Original
Supplement, the Issuer has duly authorized the issuance of a Series of Notes, the Series 2013-VF3 Notes (the “Series 2013-VF3 Notes”). 

Pursuant to Section 12.2 of the Base Indenture and Section 13(b) of the Original Supplement, the Issuer, Indenture Trustee,
Nationstar and the Administrative Agent, with the prior consent of 100% of the Noteholders of the Series 2013-VF3 Variable Funding Notes, with prior notice to each Note Rating Agency, the consent of any applicable Derivative Counterparty and the
consent of the Series Required Noteholders of each Series materially and adversely affected by such amendment, at any time and from time to time, upon delivery of an Issuer Tax Opinion, may amend the Original Supplement to amend any provision of the
Original Supplement. Pursuant to Section 12.3 of the Base Indenture, the Issuer shall also deliver to the 

 
Indenture Trustee an Opinion of Counsel stating that the execution of such amendment is authorized and permitted by the Indenture and that all conditions precedent thereto have been satisfied
(the “Authorization Opinion”). 
 As of the date hereof, there are no Note Rating Agencies or Derivative Counterparties.

 The Noteholders by their signature hereto waive, and instruct the Indenture Trustee to waive the Authorization Opinion and the
certificate required by Section 1.3(1) of the Base Indenture and the conditions precedent opinion required by Section 1.3(2) of the Base Indenture, including the corresponding form of documents specified in Section 1.4 of the Base
Indenture. 
 The parties are entering this Indenture Supplement to document the terms of the issuance of the Series 2013-VF3 Notes pursuant
to the Base Indenture, which provides for the issuance of Notes in multiple series from time to time. 
 Section 1.
    Creation of Series 2013-VF3 Notes. 
 The Series 2013-VF3 Notes are known as “NRZ Servicer Advance
Receivables Trust CS Advance Receivables Backed Notes, Series 2013-VF3 Notes” and were issued pursuant to the Original Supplement. The Series 2013-VF3 Notes shall not be subordinated to any other Series of Notes. The Series 2013-VF3 Notes were
issued in a single Class of Variable Funding Notes (the “Series 2013-VF3 Variable Funding Notes”), with the Maximum VFN Principal Balance, Stated Maturity Date, Revolving Period, Note Interest Rate, Expected Repayment Date and other
terms as specified in this Indenture Supplement. The Series 2013-VF3 Notes are secured by the Trust Estate Granted to the Indenture Trustee pursuant to the Base Indenture. The Indenture Trustee shall hold the Trust Estate as collateral security for
the benefit of the Noteholders of the Series 2013-VF3 Notes and all other Series of Notes issued under the Indenture as described therein. In the event that any term or provision contained herein shall conflict with or be inconsistent with any term
or provision contained in the Base Indenture, the terms and provisions of this Indenture Supplement shall govern to the extent of such conflict. 

Section 2.     Defined Terms. 

With respect to the Series 2013-VF3 Notes and in addition to or in replacement for the definitions set forth in Section 1.1 of the Base
Indenture, the following definitions shall be assigned to the defined terms set forth below: 
 “Acquisition of a Mortgage
Originator” shall mean an acquisition, merger or other business combination of Nationstar resulting in either Nationstar, for so long as Nationstar is the Servicer or the Subservicer, or a Subsidiary of Nationstar, for so long as Nationstar
is the Servicer or the Subservicer, (i) becoming affiliated with an originator or servicer of Mortgage Loans or (ii) acquiring a substantial portion of the assets of an originator or servicer of Mortgage Loans, in any case, that, with the
passage of time or otherwise (including the incurrence of indebtedness in connection with such acquisition, merger or other business combination), in the reasonable determination of the Administrator (as supported by financial projections and other
material information that the Administrative Agent may request in connection with such acquisition, merger or other business combination), would cause any of the following: (x) the Tangible Net Worth of Nationstar to be at any time less than or
equal to $400,000,000; or (y) the ratio of the Servicer’s Net Total Indebtedness to Tangible Net Worth at any time to exceed 9:1. 

  
 2 

 “Administrative Agent” means, for so long as the Series 2013-VF3 Notes have not
been paid in full: (i) with respect to the provisions of this Indenture Supplement, Morgan Stanley, or an Affiliate or successor thereto; and (ii) with respect to the provisions of the Base Indenture, and notwithstanding the terms and
provisions of any other Indenture Supplement, Credit Suisse AG, New York Branch, Natixis, Morgan Stanley and such other parties as set forth in any other Indenture Supplement, or a respective Affiliate or any respective successor thereto. For the
avoidance of doubt, reference to “it” or “its” with respect to the Administrative Agent in the Base Indenture shall mean “them” and “their,” and reference to the singular therein in relation to the
Administrative Agent shall be construed as if plural. 
 “Advance Rates” means, on any date of determination with respect
to each Receivable related to the Series 2013-VF3 Notes, the percentage amount based on the Advance Type of such Receivable, as set forth in the table below, subject to amendment by mutual agreement of the
Administrative Agent and the Administrator; provided, that 
 (i) in the event that the Servicer’s (prior to the MSR Transfer
Date) or the related Subservicer’s (on and after the MSR Transfer Date) sub-prime servicer rating is reduced below “Average” by S&P (a “Ratings Reduction”) the Advance Rates applicable to the Receivables related
to the Notes shall be equal to the Advance Rates set forth below prior to such ratings reduction minus 5.00% for so long as such subprime servicer rating is below “Average” by S&P; and 

(ii) the Advance Rate for any Receivable related to the Notes shall be zero if such Receivable is not a Facility Eligible Receivable; 

provided, further, that in no event shall the Facility Advance Rate be greater than 90% at any time and the Advance Rates applicable to Receivables other than
Non-FIFO Receivables shall be reduced pro rata to the extent necessary to ensure that the Facility Advance Rate does not exceed 90%. 
  

																	
	 Series 2013-VF3 Notes

Advance Type / Type of Advance
	  	 	 	 	 	 	 	 	 	 	 	 
	  	Non-
Higher
Margin	 	 	Loan-
Level	 	 	Non-
FIFO (1)	 	 	Non-
FIFO (2)	 
	 Non-Judicial P&I Advances
	  	 	94.00	% 	 	 	88.00	% 	 	 	79.25	% 	 	 	63.25	% 
	 Judicial P&I Advances
	  	 	92.25	% 	 	 	86.25	% 	 	 	77.25	% 	 	 	61.25	% 
	 Non-Judicial Deferred Servicing Fees
	  	 	89.50	% 	 	 	84.50	% 	 	 	74.50	% 	 	 	59.50	% 
	 Judicial Deferred Servicing Fees
	  	 	86.25	% 	 	 	79.25	% 	 	 	71.25	% 	 	 	56.25	% 
	 Non-Judicial Escrow Advances
	  	 	92.25	% 	 	 	86.25	% 	 	 	77.25	% 	 	 	62.25	% 
	 Judicial Escrow Advances
	  	 	90.25	% 	 	 	84.25	% 	 	 	75.25	% 	 	 	60.25	% 
	 Non-Judicial Corporate Advances
	  	 	91.75	% 	 	 	84.50	% 	 	 	76.75	% 	 	 	61.75	% 
	 Judicial Corporate Advances
	  	 	90.50	% 	 	 	81.25	% 	 	 	75.50	% 	 	 	60.50	% 

  
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	(1)	Advance Rate applicable for 90 days, beginning on the related Designation Date. 

	(2)	Advance Rate applicable beginning on the 91st day following the related Designation Date. 

“Advance Ratio” means, as of any date of determination with respect to any Designated Servicing Agreement, the ratio
(expressed as a percentage), calculated as of the last day of the calendar month immediately preceding the calendar month in which such date occurs, of (i) the Stressed Nonrecoverable Advance Amount of all Mortgage Loans (other than any
Mortgage Loans that generate Receivables that are Loan-Level Receivables, any Mortgage Loans that generate Receivables that are Second-Lien Receivables or any Mortgage Loans that are attributable to Small Threshold Servicing Agreements) serviced
pursuant to the related Designated Servicing Agreement on such date over (ii) the aggregate monthly scheduled principal and interest payments for the calendar month immediately preceding the calendar month in which such date occurs with respect
to all non-delinquent Mortgage Loans serviced pursuant to the related Designated Servicing Agreement. 
 “Base Indenture”
has the meaning assigned to such term in the Preamble. 
 “Capital Lease Obligations” means, for any Person, all
obligations of such Person to pay rent or other amounts under a lease of (or other agreement conveying the right to use) Property to the extent such obligations are required to be classified and accounted for as a capital lease on a balance sheet of
such Person under GAAP, and, for purposes of this Indenture Supplement, the amount of such obligations shall be the capitalized amount thereof, determined in accordance with GAAP. 

“Cash Equivalents” means (a) securities with maturities of ninety (90) days or less from the date of
acquisition issued or fully guaranteed or insured by the United States Government or any agency thereof, (b) certificates of deposit and eurodollar time deposits with maturities of ninety (90) days or less from the date of acquisition and
overnight bank deposits of any commercial bank having capital and surplus in excess of $500,000,000 unless otherwise approved by the Administrative Agent in writing in its sole discretion, (c) repurchase obligations of any commercial bank
satisfying the requirements of clause (b) of this definition, having a term of not more than seven (7) days with respect to securities issued or fully guaranteed or insured by the United States Government, (d) commercial paper
of a domestic issuer rated at least A-1 or the equivalent thereof by S&P or P-1 or the equivalent thereof by Moody’s and in either case maturing within ninety (90) days after the day of
acquisition, (e) securities with maturities of ninety (90) days or less from the date of acquisition issued or fully guaranteed by any state, commonwealth or territory of the United States, by any political subdivision or taxing authority
of any such state, commonwealth or territory or by any foreign government, the securities of which state, commonwealth, territory, political subdivision, taxing authority or foreign government (as the case may be) are rated at least A by S&P or
A2 by Moody’s, (f) securities with maturities of ninety (90) days or less from the date of acquisition backed by standby letters of credit issued by any commercial bank satisfying the requirements of clause (b) of this
definition or, (g) shares of money market mutual or similar funds which invest exclusively in assets satisfying the requirements of clauses (a) through (f) of this definition. 

  
 4 

 “Change of Control” occurs as to Advance Purchaser, if any of the following
occur: (x) New Residential Investment Corp. (or any Affiliate thereof) or funds under management of Fortress Investment Group Inc. or an Affiliate thereof shall cease to beneficially own and control, directly or indirectly through one or more
other intermediate entities, more than 20%, on a fully diluted basis, of the economic and voting interest in the equity interests of Advance Purchaser; (y) New Residential Investment Corp., Fortress Investment Group Inc. or an Affiliate thereof
shall cease to be the managing member of Advance Purchaser; or (z) Fortress Investment Group Inc. or an Affiliate thereof is no longer the manager of New Residential Investment Corp. 

“Coefficient” means, for the Series 2013-VF3 Notes, 0.08%. 

“Constant” means, for the Series 2013-VF3 Notes, 1.00%. 

“Corporate Trust Office” means the principal corporate trust offices of the Indenture Trustee at which at any particular time
its corporate trust business with respect to the Issuer shall be administered, which offices at the Closing Date are located at (i) for Note transfer purposes, Wells Fargo Center, Sixth and Marquette Avenue, Minneapolis, Minnesota 55479-0113,
Attention: Corporate Trust Services, NRZ Servicer Advance Receivables Trust CS, and (ii) for all other purposes, 9062 Old Annapolis Road, Columbia, Maryland 21045-1951, Attention: Corporate Trust Services, NRZ Servicer Advance Receivables Trust
CS. 
 “Default Rate” means, with respect to any Interest Accrual Period, for the Series 2013-VF3 Notes, the then
applicable Note Interest Rate (without regard to the proviso in the definition of “Note Interest Rate” in the Base Indenture) plus 3.00% per annum. 

“Effective Date” means December 17, 2013. 

“Expected Repayment Date” means, for the Series 2013-VF3 Notes, September 26, 2014, as such date may be extended from
time to time pursuant to Section 7 hereof. 
 “Expense Rate” means, as of any date of determination, with
respect to the Series 2013-VF3 Notes, the percentage equivalent of a fraction, (i) the numerator of which equals the sum of (1) the product of the Series Allocation Percentage for such Series multiplied by the aggregate amount of
Fees due and payable by the Issuer on the next succeeding Payment Date plus (2) the product of the Series Allocation Percentage for such Series multiplied by any expenses payable or reimbursable by the Issuer on the next
succeeding Payment Date, up to the applicable Expense Limit, if any, prior to any payments to the Noteholders of the Series 2013-VF3 Notes, pursuant to the terms and provisions of this Indenture Supplement, the Base Indenture or any other
Transaction Document that have been invoiced to the Indenture Trustee and the Administrator, plus (3) the aggregate amount of related Series Fees payable by the Issuer on the next succeeding Payment Date and (ii) the denominator of
which equals the sum of the outstanding Note Balances of all Series 2013-VF3 Notes at the close of business on such date. 

  
 5 

 “Facility Advance Rate” means the aggregate Collateral Value of all Facility
Eligible Receivables not including Non-FIFO Receivables, divided by the aggregate Receivable Balances of all Facility Eligible Receivables not including Non-FIFO Receivables. 

“Federal Funds Rate” means, for any period, a fluctuating interest rate per annum equal for each day during such
period to the weighted average of the federal funds rates as quoted by the Administrative Agent and confirmed in Federal Reserve Board Statistical Release H. 15 (519) or any successor or substitute publication selected by the Administrative
Agent (or, if such day is not a Business Day, for the next preceding Business Day), or if, for any reason, such rate is not available on any day, the rate determined, in the sole opinion of the Administrative Agent, to be the rate at which federal
funds are being offered for sale in the national federal funds market at 9:00 a.m. (New York City time). 
 “Fee Letter”
means that certain Fee Letter Agreement, dated the Effective Date, among the Administrative Agent, as the sole lead arranger with respect to the Series 2013-VF3 Notes, the Administrator, the Servicer and the Issuer. 

“Governmental Authority” means the United States of America, the European Union and France, any state or other political
subdivision thereof and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government and having jurisdiction over the applicable Person. 

“Higher Margin Portion” means, on any day, a dollar amount equal to the product of (i) the VFN Principal Balance and
(ii) the percentage obtained by dividing the aggregate Higher Margin Receivable Balances by the aggregate Receivable Balances of all Facility Eligible Receivables. 

“Higher Margin Receivable Balance” means the sum of (1) the aggregate Receivable Balance of all Eligible Non-FIFO
Receivables plus (2) the amount by which the aggregate Receivable Balance of all Loan-Level Receivables exceeds 10% of the aggregate Receivable Balance of all Facility Eligible Receivables. 

“Increased Costs Limit” means for each Noteholder of a Series 2013-VF3 Variable Funding Note, such Noteholder’s pro rata
percentage (based on the Note Balance of such Noteholder’s Series 2013-VF3 Variable Funding Notes) of 0.10% of the average aggregate Note Balance for the Series 2013-VF3 Variable Funding Notes Outstanding for any twelve-month period. 

“Indebtedness” means, for any Person: (a) obligations created, issued or incurred by such Person for borrowed money
(whether by loan, the issuance and sale of debt securities or the sale of Property to another Person subject to an understanding or agreement, contingent or otherwise, to repurchase such Property from such Person); (b) obligations of such
Person to pay the deferred purchase or acquisition price of Property or services, other than trade accounts payable (other than for borrowed money) arising, and accrued expenses incurred, in the ordinary course of business so long as such trade
accounts payable are payable within ninety (90) days of the date the respective goods are delivered or the respective services are rendered; (c) indebtedness of others secured by an Adverse Claim on the Property of such person, whether or
not the 

  
 6 

 
respective indebtedness so secured has been assumed by such Person; (d) obligations (contingent or otherwise) of such Person in respect of letters of credit or similar instruments issued or
accepted by banks and other financial institutions for account of such person; (e) obligations of such Person under Capital Lease Obligations; (f) obligations of such Person under repurchase agreements or like arrangements;
(g) indebtedness of others guaranteed by such Person; (h) all obligations of such Person incurred in connection with the acquisition or carrying of fixed assets by such Person; (i) indebtedness of general partnerships of which such
Person is a general partner; and (j) any other indebtedness of such Person by a note, bond, debenture or similar instrument. 

“Initial Payment Date” means November 20, 2013. 

“Interest Accrual Period” means, for the Series 2013-VF3 Notes and any Payment Date, the period beginning on the immediately
preceding Payment Date (or, in the case of the first Payment Date with respect to the Series 2013-VF3 Notes, the Issuance Date) and ending on the day immediately preceding the current Payment Date. The Interest Payment Amount for the Series 2013-VF3
Notes on any Payment Date shall be determined based on the actual number of days in the Interest Accrual Period. 
 “Interest Day
Count Convention” means with respect the Series 2013-VF3 Notes, the actual number of days in the related Interest Accrual Period divided by 360. 

“Interim Payment Date” means, with respect to the Series 2013-VF3 Notes, up to six (6) dates each calendar month
provided that the Issuer provides the Noteholders of the Series 2013-VF3 Notes and the Indenture Trustee at least two (2) Business Days’ prior notice, or if any such date is not a Business Day, the next succeeding Business Day to
the extent any such day occurs during the Revolving Period, and any other date otherwise agreed to between the Issuer and the Noteholders of the Series 2013-VF3 Notes. 

“Issuance Date” means October 29, 2013. 

“LIBOR” has the meaning assigned such term in Section 8 of this Indenture Supplement. 

“LIBOR Determination Date” means for each Interest Accrual Period, the second London Banking Day prior to the commencement of
such Interest Accrual Period. 
 “Limited Funding Date” means any Business Day that is not a Payment Date or Interim
Payment Date, at a time when no Facility Early Amortization Event shall have occurred and shall be continuing, which date is designated by the Administrator on behalf of the Issuer to the Indenture Trustee and the Administrative Agent in writing no
later than 9:00 a.m. Eastern Time two (2) Business Days prior to such date; provided, that the Administrator shall have delivered a Funding Certification in accordance with Section 4.3(a) of the Indenture for such date, and provided,
further that no fundings may be made under a Variable Funding Note on such date and no payments on any Notes shall be made on such date; provided, further, that no more than five (5) Limited Funding Dates may be designated by the Administrator
on behalf of the Issuer in any calendar month. 

  
 7 

 “Liquidity” means, as to any entity, as of the last day of any calendar month,
the sum of (a) such entity’s Unrestricted Cash and (b) the aggregate amount of unused committed capacity available to such entity (taking into account applicable haircuts) under mortgage loan warehouse and servicer advance facilities
for which such entity has unencumbered collateral eligible to be pledged thereunder. 
 “London Banking Day” means any day
on which commercial banks and foreign exchange markets settle payment in both London and New York City. 
 “Low Threshold Servicing
Agreement” means a Designated Servicing Agreement that is not a Small Threshold Servicing Agreement and (i) for which the underlying Mortgage Loans have an unpaid principal balance greater than or equal to $1,000,000 but less than
$10,000,000, or (ii) that relates to at least 15 but fewer than 50 Mortgage Loans, as of the end of the most recently concluded calendar month. 

“Margin” means, for the Series 2013-VF3 Notes, 2.00% per annum. 

“Market Value” means, with respect to the Mortgaged Property securing a Mortgage Loan or any REO Property, the market value
of such property (determined by the Servicer in its reasonable good faith discretion, which shall be by reference to the most recent value received by the related Subservicer (or by Nationstar as Servicer prior to the related MSR Transfer Date) with
respect to such Mortgaged Property or REO Property in accordance with its servicing policies, if available) or the appraised value of the Mortgaged Property obtained in connection with the origination of the related Mortgage Loan, if no updated
valuation has been required under the Servicer’s or Subservicer’s, as the case may be, servicing policies; provided, that: 

(i) the Market Value for any Mortgaged Property or REO Property shall be equal to $0 for any Mortgage Loan that is related to a Designated
Servicing Agreement for which ninety (90) days have passed since the related Designation Date without a valuation of the related Mortgaged Property that is less than six (6) months old; 

(ii) at any time after the 90th day following the related Designation Date, the Market
Value for any Mortgaged Property or REO Property shall be equal to $0 for any Mortgage Loan that is 60 or more days delinquent and the related valuation is more than six (6) months old; and 

(iii) the Market Value for any Mortgaged Property or REO Property shall be deemed equal to
662/3% of the outstanding principal balance of the related Mortgage Loan if (x) fifteen (15) Business Days or less have passed since the Designation Date for the Designated Servicing
Agreement for such Mortgage Loan and (y) the servicer does not otherwise determined the market value of such property in accordance with this definition. 

Any valuation for purposes of this definition shall be established by the lesser of either an appraisal, broker’s price opinion, the
Subservicer’s (or Nationstar as Servicer prior to the MSR Transfer Date) automated valuation model or any other internal valuation methodology (including but not limited to HPI indexing utilized by the Subservicer (or Nationstar as Servicer
prior to the MSR Transfer Date), which is consistent with the Servicer’s or Subservicer’s, as the case may be, servicing policies with respect to such Mortgaged Property or REO Property. 

  
 8 

 “Market Value Ratio” means, as of any date of determination with respect to a
Designated Servicing Agreement, the ratio (expressed as a percentage) of (i) the lesser of (A) the Funded Advance Receivable Balance for such Designated Servicing Agreement on such date and (B) the aggregate of the Receivable Balances
of all Facility Eligible Receivables under such Designated Servicing Agreement on such date over (ii) the aggregate Market Value of the Mortgaged Properties and REO Properties for the Mortgage Loans serviced under such Designated Servicing
Agreement on such date. 
 “Maximum VFN Principal Balance” means, for the Series 2013-VF3 Notes, $500,000,000 or, on any
date, a lesser amount calculated pursuant to a written agreement between the Servicer, the Administrator and the Administrative Agent. 

“Middle Threshold Servicing Agreement” means a Designated Servicing Agreement that is not a Small Threshold Servicing
Agreement or a Low Threshold Servicing Agreement and (i) for which the underlying Mortgage Loans have an unpaid principal balance greater than or equal to $10,000,000 but less than $25,000,000, or (ii) that relates to at least 50 but fewer
than 125 Mortgage Loans, as of the end of the most recently concluded calendar month. 
 “Monthly Reimbursement Rate”
means, as of any date of determination, the arithmetic average of the fractions (expressed as percentages), determined for each of the three (3) most recently concluded calendar months (or the number of months since the Closing Date, if less
than three (3)), obtained by dividing (i) the aggregate Advance Reimbursement Amounts collected by the Servicer and deposited into the Trust Accounts during such calendar month by (ii) the Funded Advance Receivable Balance as of the close
of business on the last day of such calendar month. 
 “Mortgage Loan-Level Market Value Ratio” means, as of any date of
determination with respect to a Mortgage Loan or REO Property that is secured by a first lien on the related Mortgaged Property or REO Property, the ratio (expressed as a percentage) of (x) (i) with respect to Section 5(vii)(a)
hereof, the aggregate Receivable Balance of all Loan-Level Receivables outstanding with respect to such Mortgage Loan or REO Property on such date or (ii) with respect to Section 5(vii)(b) hereof, the aggregate Receivable Balance of
all Receivables outstanding with respect to such Mortgage Loan or REO Property on such date over (y) the Market Value of such Mortgaged Property or REO Property on such date. 

“Natixis” means, Natixis, New York Branch. 

“Net Proceeds Coverage Percentage” means, for any Payment Date, the percentage equivalent of a fraction, (i) the
numerator of which equals the amount of Collections on Receivables deposited into the Collection and Funding Account during the related Monthly Advance Collection Period, and (ii) the denominator of which equals the aggregate average
outstanding Note Balances of all Outstanding Notes during such Monthly Advance Collection Period. 
 “Net Total
Indebtedness” means, with respect to any Person, for any period, (i) the aggregate Indebtedness of such Person and its Subsidiaries during such period minus (ii) the amount of any non-recourse debt (including any securitization
debt). 

  
 9 

 “Net Worth” means, with respect to any Person, such Person’s assets
minus such Person’s liabilities, each determined in accordance with GAAP. 
 “Note Interest Rate” means, for the
Series 2013-VF3 Notes, in any Interest Accrual Period, (i) for the Higher Margin Portion of the VFN Principal Balance on such day, the applicable One-Month LIBOR for such Interest Accrual Period plus 3.25% per annum, and
(ii) for the VFN Principal Balance other than the Higher Margin Portion on such day, the applicable One-Month LIBOR plus the applicable Margin; provided that, from and after the Expected Repayment Date, if the Series 2013-VF3 Notes have
not been refinanced, the “Note Interest Rate” shall be the interest rate applicable to such Notes, plus 0.50%. 
 For the
avoidance of doubt, the “Note Interest Rate” for each of the Series 2013-VF3 Notes is subject to the definition of “Note Interest Rate” in the Base Indenture. 

“One-Month LIBOR” has the meaning assigned such term in Section 8 of this Indenture Supplement. 

“Optional Extension Date” means the date that is six (6) months after the Closing Date (or, if such day is not a
Business Day, the next succeeding Business Day). 
 “Prime Rate” means the rate announced by the Administrative Agent from
time to time as its prime rate in the United States, such rate to change as and when such designated rate changes. The Prime Rate is not intended to be the lowest rate of interest charged by the Administrative Agent in connection with extensions of
credit to debtors. 
 “Property” means any right or interest in or to property of any kind whatsoever, whether real,
personal or mixed and whether tangible or intangible. 
 “Purchaser” means Morgan Stanley and its successors and permitted
assigns under the VF3 Note Purchase Agreement. 
 “Ratings Reduction” has the meaning given to such term in the definition
of “Advance Rates.” 
 “Redemption Percentage” means, for the Series 2013-VF3 Notes, 10%. 

“Reference Banks” has the meaning assigned to such term in Section 8(b) of this Indenture Supplement. 

“Regulatory Change” means (a) the adoption of any law, rule or regulation after the date hereof, (b) any change in
any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the date hereof or (c) compliance by any Noteholder (or, for purposes of Section 9(a)(3), by any lending office of such
Noteholder or by such Noteholder’s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the date hereof. 

“Reserve Interest Rate” has the meaning assigned to such term in Section 8 of this Indenture Supplement. 

  
 10 

 “Second-Lien Receivable” means a Receivable that arises under a Designated
Servicing Agreement for which the related Advance or Deferred Servicing Fee relates to a Mortgage Loan or REO Property secured by a second lien. 

“Series 2013-VF3 Note Balance” means the aggregate Note Balance of the Series 2013-VF3 Notes. 

“Series Reserve Required Amount” means with respect to any Payment Date or Interim Payment Date, as the case may be, for the
Series 2013-VF3 Notes, an amount equal to on any Payment Date or Interim Payment Date four months’ interest calculated at the applicable Note Interest Rate on the Note Balance of the Series 2013-VF3 Notes as of such Payment Date or Interim
Payment Date, as the case may be. 
 “Small Threshold Servicing Agreement” means a Designated Servicing Agreement
(i) for which the underlying Mortgage Loans have an unpaid principal balance of less than $1,000,000, or (ii) that relates to fewer than 15 Mortgage Loans, as of the end of the most recently concluded calendar month. 

“Stated Maturity Date” means, for the Series 2013-VF3 Notes, the Expected Repayment Date. 

“Stressed Interest Rate” means, for the Series 2013-VF3 Notes, as of any date, the sum of (i) the sum of (x) the
per annum index on the basis of which the Series 2013-VF3 Notes’ Note Interest Rate is determined for the current Interest Accrual Period, and (y) such Notes’ Constant and (z) the product of (I) such Notes’
Coefficient and (II) Stressed Time, plus (ii) the per annum Margin of all Outstanding Series 2013-VF3 Notes that is added to the index to determine the Note Interest Rate for such Notes. 

“Stressed Nonrecoverable Advance Amount” means, as of any date of determination, the sum of any of the following, each
without duplication: 
 (i) for all Mortgage Loans that are current as of such date, the greater of (A) zero and (B) the excess of
(1) Total Advances related to such Mortgage Loans on such date over (2) the product of 50% and the sum of all of the Market Values for the related Mortgaged Property; and 

(ii) for all Mortgage Loans that are delinquent as of such date, but not related to property in foreclosure or REO Property, the greater of
(A) zero and (B) the excess of (1) Total Advances related to such Mortgage Loans on such date over (2) the product of 50% and the sum of all of the Market Values for the related Mortgaged Property; and 

(iii) for all Mortgage Loans that are related to properties in foreclosure, the greater of (A) zero and (B) the excess of
(1) Total Advances related to such Mortgage Loans on such date over (2) the product of 50% and the sum of all of the Market Values for the related Mortgaged Property; and 

  
 11 

 (iv) for all REO Properties, the greater of (A) zero and (B) the excess of
(1) Total Advances related to such REO Properties on such date over (2) the product of 50% and the sum of all of the Market Values for the related REO Properties. 

For the avoidance of doubt, this definition of “Stressed Nonrecoverable Advance Amount” shall not be applicable to Mortgage Loans
attributable to Small Threshold Servicing Agreements, any Mortgage Loans that generate Receivables that are Loan-Level Receivables or any Mortgage Loans that generate Second-Lien Receivables. 

“Stressed Time” means, as of any date of determination for the Series 2013-VF3 Notes, the percentage equivalent of a
fraction, the numerator of which is one (1), and the denominator of which equals the Stressed Time Percentage for the Series 2013-VF3 Notes times the Monthly Reimbursement Rate on such date. 

“Stressed Time Percentage” means 82.1%. 

“Tangible Net Worth” means, with respect to any Person at any date of determination, (i) the Net Worth of such Person
and its consolidated Subsidiaries, determined in accordance with GAAP, minus (ii) all intangibles determined in accordance with GAAP (including, without limitation, goodwill, capitalized financing costs and capitalized administration costs but
excluding originated and purchased mortgage servicing rights and retained residual securities) and any and all advances to, investments in and receivables held from Affiliates; provided, however, that the non-cash effect (gain or loss)
or any mark-to-market adjustments made directly to stockholders’ equity for fluctuation of the value of financial instruments as mandated under the Statement of Financial Accounting Standards No. 133 (or any successor statement) shall be
excluded from the calculation of Tangible Net Worth. 
 “Target Amortization Amounts” means, for the Series 2013-VF3 Notes,
(i) if a Target Amortization Event occurs that is described in the definition thereof in clauses (B)(i), (B)(ii), (B)(xi)(b) (if notwithstanding the fact that the obligation to pay has not yet matured, the payment of such judgment would not, in
the discretion of the Administrative Agent, likely cause a Target Amortization Event described in clause (vi) of the definition thereof) or (B)(xv) (if such Target Amortization Event is as a result of a Target Amortization Event that is the
same as the Target Amortization Event described in clause (B)(i), (B)(ii) or (B)(xi)(b) (if notwithstanding the fact that the obligation to pay has not yet matured, the payment of such judgment would not, in the discretion of the Administrative
Agent, likely cause a Target Amortization Event described in clause (vi) of the definition thereof) and if the definition of “Target Amortization Amounts” under such Series of Variable Funding Notes provides that such Target
Amortization Amount for such Target Amortization Event is one-twelfth (1/12) of the Notes Balance of such Notes at the close of business on the last day of its Revolving Period), one-twelfth (1/12) of the Note Balance of the Series
2013-VF3 Notes at the close of business on the last day of its Revolving Period; (ii) if a Target Amortization Event described in clause (B)(xii) or (B)(xv) (if such Target Amortization Event is as a result of a Target Amortization Event that
is the same as the Target Amortization Event described in clause (B)(xii) of the definition thereof and if the definition of “Target Amortization Amounts” under such Series of Variable Funding Notes provides that such Target Amortization
Amount for such Target Amortization Event is one-third (1/3) of the Note Balance of such Notes at the close of business on the last day of its Revolving Period) in the 

  
 12 

 
definition thereof occurs, one-third (1/3) of the Note Balance of the Series 2013-VF3 Notes at the close of business on the last day of its Revolving Period and (iii) if any other
Target Amortization Event described in the definition thereof occurs (including B(xi)(b) or B(xv), except as covered above), 100% of the Note Balance of the Series 2013-VF3 Notes at the close of business on the last day of its Revolving Period. 

“Target Amortization Event” for the Series 2013-VF3 Notes, means the earlier of (A) the related Expected Repayment Date
or (B) the occurrence of any of the following conditions or events, which is not waived by 100% of the Noteholders of the Series 2013-VF3 Notes: 

(i) on any Payment Date, the arithmetic average of the Net Proceeds Coverage Percentage determined for such Payment Date and
the two preceding Payment Dates (or no preceding Payment Dates in the case of the determination on the first Payment Date, or the one preceding Payment Date, in the case of the determination on the second Payment Date) is less than five
(5) times the percentage equivalent of a fraction (A) the numerator of which equals the sum of the accrued Interest Payment Amounts for each Class of Outstanding Notes on such date and (B) the denominator of which equals the aggregate
average Note Balances of each Class of all Outstanding Notes during the related Monthly Advance Collection Period; 
 (ii)
the occurrence of one or more Servicer Termination Events with respect to Designated Servicing Agreements representing 15% or more (by Mortgage Loan balance as of the date of termination) of all the Designated Servicing Agreements then included in
the Trust Estate, but not including any Servicer Termination Events that are solely due to the breach of one or more Collateral Performance Tests or a Servicer Ratings Downgrade or the transfer of subservicing of any Designated Servicing Agreement
without the prior written consent of the Administrative Agent; 
 (iii) the Monthly Reimbursement Rate is less than 3.00%;

 (iv) for so long as Nationstar is the Servicer or the Subservicer, (A) from the consummation of an Acquisition of a
Mortgage Originator until and including the 270th day following the consummation thereof, the Tangible Net Worth of Nationstar is less than or equal to $350,000,000 as of the last day of any quarter or (B) at any other time, the Tangible Net
Worth of Nationstar is less than or equal to $400,000,000 as of the last day of any quarter and the continuation of such condition for thirty (30) days after the end of such quarter; 

(v) for so long as Nationstar is the Servicer or the Subservicer, (A) from the consummation of an Acquisition of a
Mortgage Originator until and including the 270th day following the consummation thereof, the ratio of Nationstar’s Net Total Indebtedness to Tangible Net Worth exceeds 12:1 as of the last day of any quarter, or (B) at any time other than
the time described in clause (A), Nationstar’s Net Total Indebtedness to Tangible Net Worth at any time exceeds 9:1 as of the last day of any quarter and the continuation of such condition for thirty (30) days after the end of such
quarter; 

  
 13 

 (vi) for so long as Nationstar is the Servicer or the Subservicer, as of the
close of business on the last Business Day of December 2013 and of each calendar month thereafter, Nationstar’s Liquidity is less than $80,000,000; 

(vii) the occurrence of a Change of Control; 

(viii) any failure by the Servicer to deliver any Determination Date Servicer Report pursuant to Section 3.2 of the Base
Indenture which continues unremedied for a period of five (5) Business Days after a Responsible Officer of the Servicer shall have obtained actual knowledge of such failure, or shall have received written or electronic notice from the Indenture
Trustee or any Noteholder of such failure; 
 (ix) the Issuer, the Receivables Seller, the Servicer, the Subservicer, the
Depositor or the Administrator shall breach or default in the due observance or performance of any of its covenants or agreements in this Indenture Supplement, the Base Indenture, or any other Transaction Document in any material respect (subject to
any cure period provided therein), other than an obligation of the Receivables Seller to make an Indemnity Payment following a breach of a representation or warranty with respect to such Receivable pursuant to Section 4(b) of the Receivables
Sale Agreement or any payment default described in Section 8.1 of the Base Indenture, and any such default shall continue for a period of thirty (30) days after the earlier to occur of (a) actual discovery by a Responsible Officer of
the Issuer, the Receivables Seller, the Servicer, the Subservicer, the Depositor or the Administrator, as applicable, or (b) the date on which written or electronic notice of such failure, requiring the same to be remedied, shall have been
given from the Indenture Trustee or any Noteholder to a Responsible Officer of the Issuer, the Receivables Seller, the Servicer, the Subservicer, the Depositor or the Administrator; provided, that a breach of Section 6(b) of the
Receivables Sale Agreement, or Section 7(b) of the Receivables Pooling Agreement (prohibiting the Receivables Seller, the Servicer, the Subservicer or the Depositor, as applicable, from causing or permitting Insolvency Proceedings with respect
to the Depositor or the Issuer, as applicable) shall constitute an automatic Target Amortization Event; 
 (x) if any
representation or warranty of the Issuer, the Receivables Seller, the Servicer, the Subservicer, the Depositor or the Administrator made in this Indenture Supplement, the Base Indenture, or any other Transaction Document (other than under
Section 4(b) of the Receivables Sale Agreement) shall prove to have been breached in any material respect as of the time when the same shall have been made or deemed made, and continues uncured and unremedied for a period of thirty
(30) days after the earlier to occur of (a) actual discovery by a Responsible Officer of the Issuer, the Receivables Seller, the Servicer, the Subservicer, the Depositor or the Administrator, as applicable, or (b) the date on which
written notice of such failure, requiring the same to be remedied, shall have been given to a Responsible Officer of the Issuer, the Receivables Seller, the Servicer, the Subservicer, the Depositor or the Administrator, as applicable, and would have
a material adverse effect on the rights or interests of the Noteholders; 
 (xi) (a) a final judgment or judgments for the
payment of money in excess of $50,000 in the aggregate shall be rendered against the Depositor or the Issuer by one or 

  
 14 

 
more courts, administrative tribunals or other bodies having jurisdiction over them, or (b) a final judgment or judgments for the payment of money in excess of $35,000,000 in the aggregate
shall be rendered against Advance Purchaser by one or more courts, administrative tribunals or other bodies having jurisdiction over them that, in the sole determination of the Administrative Agent, shall have a material adverse effect on Advance
Purchaser’s business or operations, and the same shall not be discharged (or provision shall not be made for such discharge) or bonded, or a stay of execution thereof shall not be procured, within sixty (60) days from the date of entry
thereof and Advance Purchaser, shall not, within said period of sixty (60) days, or such longer period during which execution of the same shall have been stayed or bonded, appeal therefrom and cause the execution thereof to be stayed during
such appeal; 
 (xii) any person shall be appointed as Independent Manager of the Depositor without prior notice having been
given to and without the written acknowledgement by the Administrative Agent that such person conforms, to the satisfaction of the Administrative Agent in its reasonable discretion, to the criteria set forth herein in the definition of
“Independent Manager”; 
 (xiii) Advance Purchaser shall fail to make any payment (whether of principal or interest
or otherwise) in respect of any other indebtedness with an amount in excess of $15,000,000, when and as the same shall become due and payable (including the passage of any applicable grace period); 

(xiv) any event or condition occurs and, while continuing, results in any indebtedness of Advance Purchaser with an amount in
excess of $15,000,000 becoming due prior to its scheduled maturity or that enables or permits (including the passage of any applicable grace period) the holder or holders of any such indebtedness or any trustee or agent on its or their behalf to
cause any such indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; 

(xv) any Series or Class of Variable Funding Notes other than the Series 2013-VF3 Notes enters into a Target Amortization
Period; 
 (xvi) Advance Purchaser shall have Tangible Net Worth less than the greater of (a) 3% of the aggregate
Receivables Balances of all servicer advance receivables and deferred servicing fee receivables held by Advance Purchaser or a Subsidiary of Advance Purchaser as of the last day of any fiscal quarter of Advance Purchaser or (b) $75,000,000; or

 (xvii) Advance Purchaser shall fail to have Liquidity of at least $25,000,000 as of the last day of any calendar month.

 “Transaction Documents” means, in addition to the documents set forth in the definition thereof in the Base Indenture,
this Indenture Supplement and the VF3 Note Purchase Agreement, each as amended, supplemented, restated or otherwise modified from time to time. 

  
 15 

 “Trigger Advance Rate” means, for the Series 2013-VF3 Notes, as of any date, the
rate equal to the greater of (x) zero and (y) (1) 100% minus (2) the product of (a) one twelfth of the Stressed Interest Rate for the Series 2013-VF3 Notes, plus the related Expense Rate as of such date, multiplied
by (b) the Stressed Time for the Series 2013-VF3 Notes as of such date. 
 “Undrawn Fee Rate” means, with respect
to the Series 2013-VF3 Variable Funding Notes held by the Purchaser and for each Interest Accrual Period, 0.50% per annum; provided, however, that in case of the first Payment Date, the Undrawn Fee Rate shall accrue from
the period beginning on October 29, 2013, and ending on the day immediately preceding the current Payment Date. For the avoidance of doubt, only the Purchasers shall be paid Undrawn Fee Amounts as set forth in the Base Indenture. 

“Unrestricted Cash” means, as of any date of determination, the sum of (i) the Receivables Seller’s cash,
(ii) the Receivables Seller’s Cash Equivalents that are not, in either case, subject to an Adverse Claim in favor of any Person or that are not required to be reserved by the Receivables Seller in a restricted escrow arrangement or other
similarly restricted arrangement pursuant to a contractual agreement or requirement of law. 
 “Variable Funding Notes”
means, the Series 2013-VF3 Variable Funding Notes issued hereunder by the Issuer, having an aggregate VFN Principal Balance of no greater than the applicable Maximum VFN Principal Balance. 

“VF3 Note Purchase Agreement” means that certain Note Purchase Agreement, dated as of the date hereof, by and among the
Issuer, Morgan Stanley, as the Administrative Agent, and Morgan Stanley, as the Purchaser, that relates to the purchase of the Series 2013-VF3 Notes. 

There are no “Other Advance Rate Reduction Events” or “Other Advance Rate Reduction Event Cure Periods” in respect of the
Series 2013-VF3 Notes. 
 Section 3.    Forms of Series 2013-VF3 Notes. 

The form of the Rule 144A Definitive Note and of the Regulation S Definitive Notes that may be used to evidence the Series 2013-VF3 Variable
Funding Notes in the circumstances described in Section 5.4(c) of the Base Indenture are attached to the Base Indenture as Exhibits A-2 and A-4, respectively. 

In addition to any provisions set forth in Section 6.5 of the Base Indenture, with respect to the Series 2013-VF3 Notes, the Noteholder
of such Notes shall only transfer its beneficial interest therein to another potential investor in accordance with the applicable Note Purchase Agreement. The Indenture Trustee (in all of its capacities) shall not be responsible to monitor, and
shall not have any liability, for any such transfers of beneficial interests of participation interests. 

Section 4.    Series Reserve Account. 

In accordance with the terms and provisions of this Section 4 and Section 4.6 of the Base Indenture, the Indenture Trustee
shall establish and maintain a Series Reserve Account with respect to the Series 2013-VF3 Notes, which shall be an Eligible Account, for the benefit of the Series 2013-VF3 Noteholders. The Series Reserve Account with respect to the Series 2013-VF3
Notes is listed on Schedule 1 attached hereto. 

  
 16 

 Section 5.    Collateral Value Exclusions. 

For purposes of calculating “Collateral Value” in respect of the Series 2013-VF3 Notes, the Collateral Value shall be zero
for any Receivable that: 
 (i) is attributable to any Designated Servicing Agreement to the extent that the Receivable
Balance of such Receivable, when added to the aggregate Receivable Balances already outstanding with respect to such Designated Servicing Agreement, would cause the related Advance Ratio to be equal to or greater than 100.0%; provided, that
this clause (i) shall not apply to any Receivable that is (a) attributable to a Designated Servicing Agreement that is a Small Threshold Servicing Agreement or (b) a Loan-Level Receivable; 

(ii) is attributable to any Designated Servicing Agreement to the extent that the Receivable Balance of such Receivable, when
added to the aggregate Receivable Balances already outstanding with respect to such Designated Servicing Agreement, would cause the related Market Value Ratio to exceed 25.0%; 

(iii) is a Facility Eligible Receivable that is attributable to a Small Threshold Servicing Agreement to the extent that the
Receivable Balance of such Receivable, when added to the aggregate Receivable Balances of all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements, would cause the total Receivable Balances attributable to
all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements to exceed 2.5% of the total Receivable Balances of all Facility Eligible Receivables included in the Trust Estate; 

(iv) is a Facility Eligible Receivable that is attributable to a Small Threshold Servicing Agreement or a Low Threshold
Servicing Agreement, to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances of all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements and Low
Threshold Servicing Agreements, would cause the total Receivable Balances attributable to all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements and Low Threshold Servicing Agreements to exceed 7.5% of the
total Receivable Balances of all Facility Eligible Receivables included in the Trust Estate; 
 (v) is a Facility Eligible
Receivable that is attributable to a Small Threshold Servicing Agreement, a Low Threshold Servicing Agreement, or a Middle Threshold Servicing Agreement, to the extent that the Receivable Balance of such Receivable, when added to the aggregate
Receivable Balances of all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements, Low Threshold Servicing Agreements and Middle Threshold Servicing Agreements would cause the total Receivable Balances
attributable to all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements, Low Threshold Servicing Agreements and Middle Threshold Servicing Agreements to exceed 15.0% of the total Receivable Balances of all
Facility Eligible Receivables included in the Trust Estate; 

  
 17 

 (vi) is attributable to a Designated Servicing Agreement, to the extent that the
Receivable Balance of such Receivable, when added to the aggregate Receivable Balances outstanding with respect to that same Designated Servicing Agreement, would cause the total Receivable Balances attributable to such Designated Servicing
Agreement to exceed 15.0% of the aggregate of the Receivable Balances of the Aggregate Receivables; 
 (vii) (a) if it is a
Loan-Level Receivable, its Receivable Balance, when added to the aggregate Receivable Balances of all Receivables with respect to the related Mortgage Loan or REO Property, would cause the related Mortgage Loan-Level Market Value Ratio to exceed
50.0% or (b) if it is a Receivable related to a Mortgage Loan or REO Property that is attributable to a Designated Servicing Agreement that is a Small Threshold Servicing Agreement, its Receivable Balance, when added to the aggregate Receivable
Balances of all Receivables related to the Mortgage Loan or REO Property that is attributable to a Designated Servicing Agreement that is a Small Threshold Servicing Agreement, would cause the related Mortgage Loan-Level Market Value Ratio to exceed
50.0%; 
 (viii) is a Second-Lien Receivable; 

(ix) has a zero Advance Rate; 

(x) is a Loan-Level Receivable or a Non-FIFO Receivable, to the extent that the related Receivable Balance of such Receivable,
when added to the aggregate Receivable Balances of Loan-Level Receivables and Non-FIFO Receivables already outstanding with respect to all Mortgage Loans or REO Properties, causes the aggregate Receivable Balances of all Loan-Level Receivables and
Non-FIFO Receivables to exceed 22.5% of the aggregate Receivables Balances of all Facility Eligible Receivables; 
 (xi) is a
Facility Eligible Receivable that is a Loan-Level Receivable, to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances of all Facility Eligible Receivables outstanding with respect to all
Loan-Level Receivables, would cause the total Receivable Balances attributable to all Facility Eligible Receivables outstanding with respect to all Loan-Level Receivables to exceed 20.0% of the total Receivable Balances of all Facility Eligible
Receivables included in the Trust Estate; 
 (xii) is a Facility Eligible Receivable that is attributable to a Non-FIFO
Receivable, to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances of all Facility Eligible Receivables outstanding with respect to Non-FIFO Receivables, would cause the total Receivable
Balances attributable to all Facility Eligible Receivables outstanding with respect to Non-FIFO Receivables to exceed (i) from and including the Closing Date through April 1, 2014, $100,000,000, and (ii) on and after April 1, 2014,
the lesser of $25,000,000 or 1.0% of the aggregate Receivable Balances of all Facility Eligible Receivables included in the Trust Estate; 

  
 18 

 (xiii) if more than ninety (90) days have passed since the Designation Date
in respect of the related Designated Servicing Agreement, relates to an Advance that has not been reimbursed in full or a Deferred Servicing Fee that has not been paid in full within forty-five (45) days following the date of a permanent
modification of the related Mortgage Loan that becomes effective subsequent to the creation of such Receivable (for purposes of this clause, a modification becomes “permanent” following any trial period or satisfaction of conditions
precedent or subsequent); or 
 (xiv) is a Receivable related to the Designated Servicing Agreements related to the
securitization trusts identified on Schedule 4 to the Base Indenture (as the same may be updated from time to time pursuant to Section 2.2(c) of the Base Indenture) and the aggregate of the outstanding principal balance of
the Mortgage Loans and each REO Property remaining in such securitization trust is less than the percentage indicated on such Schedule 4 of such securitization trust’s cut-off date balance. 

For purposes of each of the foregoing, (i) if any Facility Eligible Receivable has a Collateral Value equal to zero pursuant to any
Collateral Value exclusion test, the portion of the Receivables Balance thereof with a Collateral Value of zero shall be disregarded for all other purposes of this Section 5, in each case as determined by the Administrator in a manner
that maximizes the Collateral Value and (ii) if any Facility Eligible Receivable has an Advance Rate of zero or is a Second-Lien Receivable, such Facility Eligible Receivable shall be disregarded for all other purposes of this
Section 5. 
 Section 6.    Payments; Note Balance Increases; Early Maturity; Other Advance Rate
Reduction Events. 
 The Paying Agent shall make payments of interest on the Series 2013-VF3 Notes on each Payment Date in accordance
with Section 4.5 of the Base Indenture and any payments of interest (including unrated interest amounts), Cumulative Interest Shortfall Amounts, Fees or Increased Costs allocated to the Series 2013-VF3 Notes shall be paid to the Series 2013-VF3
Notes. The Paying Agent shall make payments of principal on the Series 2013-VF3 Variable Funding Notes on each Interim Payment Date and each Payment Date in accordance with Sections 4.4 and 4.5, respectively, of the Base Indenture (at the
option of the Issuer in the case of requests during the Revolving Period for the Series 2013-VF3 Variable Funding Notes). The Note Balance of the Series 2013-VF3 Variable Funding Notes may be increased from time to time on certain Funding Dates in
accordance with the terms and provisions of Section 4.3 of the Base Indenture, but not in excess of the related Maximum VFN Principal Balance. The Paying Agent shall make payments of principal on the Series 2013-VF3 Variable Funding Notes on
each Payment Date in accordance with Section 4 of the Base Indenture during any Target Amortization Period or any Full Amortization Period. 

The parties hereto agree that the failure to pay any portion of any related Undrawn Fee Amount on any Payment Date shall constitute an Event
of Default under Section 8.1(a)(i) of the Base Indenture. 

  
 19 

 Notwithstanding anything to the contrary contained herein or in the Base Indenture, the Issuer
may, upon at least five (5) Business Days’ prior written notice to the Administrative Agent, redeem in whole or in part, and/or terminate and cause retirement of any of the Series 2013-VF3 Variable Funding Notes at any time using proceeds
of issuance of new Notes or in connection with the repayment of all Notes. 
 The Series 2013-VF3 Notes are also subject to optional
redemption in accordance with the terms of Section 13.1 of the Base Indenture. 
 Any payments of principal allocated to the Series
2013-VF3 Notes during a Full Amortization Period shall be applied to the Series 2013-VF3 Notes until their Note Balance has been reduced to zero. 

The Administrative Agent further confirms that the Series 2013-VF3 Notes issued on the Issuance Date pursuant to this Indenture Supplement
shall be issued in the name of “Morgan Stanley Bank, N.A.,” and the Administrative Agent hereby directs the Indenture Trustee to issue the Series 2013-VF3 Notes in the name of “Morgan Stanley Bank, N.A.” 

For the avoidance of doubt, the failure pay any Target Amortization Amount when due, as described in the definition thereof, shall constitute
an Event of Default. 
 There are no “Other Advance Rate Reduction Events” in respect of the Series 2013-VF3 Notes. If any Other
Advance Rate Reduction Event in respect of any other Series of Notes is the same as any reduction event specified in clause (iv) of the definition of “Facility Early Amortization Event,” and the related Other Advance Rate Reduction
Event Cure Period is shorter than the applicable grace period for the same event specified in clause (iv) of the definition of “Facility Early Amortization Event”, then solely for purposes of the Series 2013-VF3 Notes, the applicable
grace period specified in clause (iv) of the definition of “Facility Early Amortization Event” shall be reduced to the Other Advance Rate Reduction Event Cure Period. 

For the avoidance of doubt, the Issuer may reduce the Maximum VFN Principal Balance at any time to an amount not less than the current VFN
Principal Balance. 
 On the initial Funding Date, the initial funding in respect of the Series 2013-VF3 Notes will be made on a non-pro
rata basis with the other Series of Notes and the proceeds of such initial funding may be used to repay, in part, the then outstanding balance of the Series 2013-VF1 Notes and the Series 2013-VF2 Notes. 

Section 7.    Extension of Expected Repayment Date. 

The Administrator, on behalf of the Issuer, may request one (1) extension of the Expected Repayment Date for any of the Series 2013-VF3
Variable Funding Notes at least fifteen (15) days prior to the Optional Extension Date. The Administrative Agent shall provide written notice of whether the Administrative Agent agrees to extend the Expected Repayment Date on such Optional
Extension Date at least five (5) days prior to such Optional Extension Date. If the Administrative Agent provides written notice of its agreement to extend the Expected Repayment Date, the Expected Repayment Date will be extended on such
Optional Extension Date such that, after giving effect to any such extension, the Expected Repayment Date will be 

  
 20 

 
180 days after the existing Expected Repayment Date. The Expected Repayment Date of the Series 2013-VF3 Variable Funding Notes cannot be extended past the Expected Repayment Date for any other
Outstanding Series of Variable Funding Notes. For the avoidance of doubt, the Expected Repayment Date of the Series 2013-VF3 Variable Funding Notes shall be extended only by written notice from the Administrative Agent in accordance with this
Section 7. 
 Section 8.    Determination of Note Interest Rate and LIBOR. 

(a) At least one (1) Business Day prior to each Determination Date, the Administrator shall calculate the Note Interest Rate for the
related Interest Accrual Period (in the case of the Series 2013-VF3 Variable Funding Notes using One Month LIBOR as determined by the Administrative Agent in accordance with Section 8(b) below) and the Interest Payment Amount for the
Series 2013-VF3 Notes for the upcoming Payment Date, and include a report of such amount in the related Payment Date Report. 
 (b) On each
LIBOR Determination Date, the Administrative Agent will determine the arithmetic mean of the London Interbank Offered Rate (“LIBOR”) quotations for one-month Eurodollar deposits (“One-Month LIBOR”) for the
succeeding Interest Accrual Period for the Series 2013-VF3 Notes on the basis of the Reference Banks’ offered LIBOR quotations provided to the Calculation Agent as of 11:00 a.m. (London time) on such LIBOR Determination Date. As used herein
with respect to a LIBOR Determination Date, “Reference Banks” means leading banks engaged in transactions in Eurodollar deposits in the international Eurocurrency market (i) with an established place of business in London,
(ii) whose quotations appear on the Bloomberg Screen US0001M Index Page for the LIBOR Determination Date in question and (iii) which have been designated as such by the Calculation Agent (after consultation with the Administrative Agent)
and are able and willing to provide such quotations to the Calculation Agent for each LIBOR Determination Date; and “Bloomberg Screen US0001M Index Page” means the display designated as page US0001M Index Page on the Bloomberg
Financial Markets Commodities News (or such other pages as may replace such page on that service for the purpose of displaying LIBOR quotations of major banks). If any Reference Bank should be removed from the Bloomberg Screen US0001M Index Page or
in any other way fails to meet the qualifications of a Reference Bank, the Administrative Agent may, in its sole discretion, designate an alternative Reference Bank. 

If, for any LIBOR Determination Date, two or more of the Reference Banks provide offered One-Month LIBOR quotations on the Bloomberg Screen
US0001M Index Page, One-Month LIBOR for the next succeeding Interest Accrual Period for the Series 2013-VF3 Variable Funding Notes will be the arithmetic mean of such offered quotations (rounding such arithmetic mean if necessary to the nearest five
decimal places). 
 If, for any LIBOR Determination Date, only one or none of the Reference Banks provides such offered One-Month LIBOR
quotations for the next applicable Interest Accrual Period, One-Month LIBOR for the next Interest Accrual Period for the Series 2013-VF3 Notes will be the higher of (x) One-Month LIBOR as determined for the previous LIBOR Determination Date and
(y) the Reserve Interest Rate. The “Reserve Interest Rate” on any date of determination will be the rate per annum that the Administrative Agent determines to be either (A) the arithmetic mean (rounding such
arithmetic mean if necessary to the nearest five decimal places) of the one-month 

  
 21 

 
Eurodollar lending rate that New York City banks selected by the Administrative Agent are quoting, on the relevant LIBOR Determination Date, to the principal London offices of at least two
leading banks in the London Interbank market or (B) in the event that the Administrative Agent is unable to determine such arithmetic mean, the lowest one-month Eurodollar lending rate that the New York City banks so selected by the
Administrative Agent are quoting on such LIBOR Determination Date to leading European banks. 
 If, on any LIBOR Determination Date, the
Administrative Agent is required but is unable to determine the Reserve Interest Rate in the manner provided in the preceding paragraph, One-Month LIBOR for the next applicable Interest Accrual Period will be One-Month LIBOR as determined for the
previous LIBOR Determination Date. 
 Notwithstanding the foregoing, One-Month LIBOR for an Interest Accrual Period shall not be based on
One-Month LIBOR for the previous Interest Accrual Period on the Series 2013-VF3 Notes for two consecutive LIBOR Determination Dates. If, under the priorities described above, One-Month LIBOR for an Interest Accrual Period on the Series 2013-VF3
Notes would be based on One-Month LIBOR for the previous LIBOR Determination Date for the second consecutive LIBOR Determination Date, the Administrative Agent shall select an alternative index (over which the Administrative Agent has no control)
used for determining one-month Eurodollar lending rates that is calculated and published (or otherwise made available) by an independent third party, and this alternative index shall constitute One-Month LIBOR for all purposes under this Indenture
Supplement in that event. 
 (c) The establishment of One-Month LIBOR by the Administrative Agent and the Administrator’s subsequent
calculation of the Note Interest Rate on the Series 2013-VF3 Notes for the relevant Interest Accrual Period, in the absence of manifest error, will be final and binding. 

Section 9.    Increased Costs. 

(a) If any Regulatory Change or other requirement of any law, rule, regulation or order applicable to a Noteholder of a Series 2013-VF3
Variable Funding Note (a “Requirement of Law”) or any change in the interpretation or application thereof or compliance by such Noteholder with any request or directive (whether or not having the force of law) from any central bank
or other Governmental Authority made subsequent to the date hereof: 
 (1) shall subject such Noteholder to any tax of any
kind whatsoever with respect to its Series 2013-VF2 Variable Funding Note (excluding income taxes, branch profits taxes, franchise taxes or similar taxes imposed on such Noteholder as a result of any present or former connection between such
Noteholder and the United States, other than any such connection arising solely from such Noteholder having executed, delivered or performed its obligations or received a payment under, or enforced, this Indenture Supplement or any U.S. federal
withholding taxes imposed under Code sections 1471 through 1474 as of the date of this Indenture Supplement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any regulations or
official interpretations thereunder and any agreements entered into 

  
 22 

 
under section 1471(b) of the Code) or change the basis of taxation of payments to such Noteholder in respect thereof; shall impose, modify or hold applicable any reserve, special deposit,
compulsory loan or similar requirement against assets held by, deposits or other liabilities in or for the account of, advances, or other extensions of credit by, or any other acquisition of funds by, any office of such Noteholder which is not
otherwise included in the determination of the Note Interest Rate hereunder; or 
 (2) shall impose, modify or hold
applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets held by, deposits or other liabilities in or for the account of, advances, or credit extended or participated by, or any other
acquisition of funds by, any office of such Noteholder which is not otherwise included in the determination of the Note Interest Rate hereunder; or 

(3) shall have the effect of reducing the rate of return on such Noteholder’s capital or on the capital of such
Noteholder’s holding company, if any, as a consequence of this Indenture Supplement, in the case of the Series 2013-VF3 Variable Funding Notes, the VF3 Note Purchase Agreement, or the Series 2013-VF3 Variable Funding Notes to a level below that
which such Noteholder or such Noteholder’s holding company could have achieved but for such Requirements of Law (other than any Regulatory Change, Requirement of Law, interpretation or application thereof, request or directive with respect to
taxes) (taking into consideration such Noteholder’s policies and the policies of such Noteholder’s holding company with respect to capital adequacy); or 

(4) shall impose on such Noteholder or the London interbank market any other condition, cost or expense (other than with
respect to taxes) affecting this Indenture Supplement, in the case of the Series 2013-VF3 Variable Funding Notes, the VF3 Note Purchase Agreement or the Series 2013-VF3 Variable Funding Notes or any participation therein; or 

(5) shall impose on such Noteholder any other condition; 

and the result of any of the foregoing is to increase the cost to such Noteholder, by an amount which such Noteholder deems to be material, of continuing to
hold its Series 2013-VF3 Variable Funding Note, of maintaining its obligations with respect thereto, or to reduce any amount due or owing hereunder in respect thereof, or to reduce the amount of any sum received or receivable by such Noteholder
(whether of principal, interest or any other amount) or (in the case of any change in a Requirement of Law regarding capital adequacy or liquidity requirements or in the interpretation or application thereof or compliance by such Noteholder or any
Person controlling such Noteholder with any request or directive regarding capital adequacy or liquidity requirements (whether or not having the force of law) from any Governmental Authority or quasi-Governmental Authority made subsequent to the
date hereof) shall have the effect of reducing the rate of return on such Noteholder’s or such controlling Person’s capital as a consequence of its obligations as a Noteholder of a Variable Funding Note to a level below that which such
Noteholder or such controlling Person could have achieved but for such adoption, 

  
 23 

 
change or compliance (taking into consideration such Noteholder’s or such controlling Person’s policies with respect to capital adequacy) by an amount deemed by such Noteholder to be
material, then, in any such case, such Noteholder shall invoice the Administrator for such additional amount or amounts as calculated by such Noteholder in good faith as will compensate such Noteholder for such increased cost or reduced amount, and
such invoiced amount shall be payable to such Noteholder on the Payment Date following the next Determination Date following such invoice, in accordance with Section 4.5(a)(1)(ii) or Section 4.5(a)(2)(ii) of the Base Indenture, as
applicable; provided, however, that any amount of Increased Costs in excess of the Increased Costs Limit shall be payable to such Noteholder in accordance with Section 4.5(a)(1)(ix) or Section 4.5(a)(2)(iv) of the Base
Indenture, as applicable. 
 (b) Reserved. 

(c) Increased Costs payable under this Section 9 shall be payable on a Payment Date only to the extent invoiced to the Indenture
Trustee prior to the related Determination Date. 
 Section 10.    Series Reports. 

(a) Series Calculation Agent Report. The Calculation Agent shall deliver a report of the following items together with each Calculation
Agent Report pursuant to Section 3.1 of the Base Indenture to the extent received from the Servicer, with respect to the Series 2013-VF3 Notes: 

(i) the unpaid principal balance of the Mortgage Loans subject to any Small Threshold Servicing Agreement, Low Threshold
Servicing Agreement and Middle Threshold Servicing Agreement; 
 (ii) the Advance Ratio for each Designated Servicing
Agreement, and whether the Advance Ratio for such Designated Servicing Agreement exceeds 100.0%; 
 (iii) the Market Value
Ratio for each Designated Servicing Agreement, and whether the Market Value Ratio for such Designated Servicing Agreement exceeds 25.0%; 

(iv) for each Small Threshold Servicing Agreement, as of the end of the most recently concluded calendar month, the aggregate
of the Funded Advance Receivable Balances of all Receivables attributable to such Designated Servicing Agreement as a percentage of the aggregate of the Funded Advance Receivable Balances of all Receivables included in the Trust Estate; 

(v) for each Middle Threshold Servicing Agreement, as of the end of the most recently concluded calendar month, the aggregate
of the Funded Advance Receivable Balances of all Receivables attributable to such Designated Servicing Agreement as a percentage of the aggregate of the Funded Advance Receivable Balances of all Receivables included in the Trust Estate; 

(vi) for each Low Threshold Servicing Agreement, as of the end of the most recently concluded calendar month, the aggregate of
the Funded Advance Receivable 

  
 24 

 
Balances of all Receivables attributable to such Designated Servicing Agreement as a percentage of the aggregate of the Funded Advance Receivable Balances of all Receivables included in the Trust
Estate; 
 (vii) a list of each Target Amortization Event for the Series 2013-VF3 Notes and presenting a yes or no answer
beside each indicating whether each such Target Amortization Event has occurred as of the end of the Monthly Advance Collection Period preceding the upcoming Payment Date or the Advance Collection Period preceding the upcoming Interim Payment Date;

 (viii) the Mortgage Loan-Level Market Value Ratio for each Mortgage Loan related to a Loan-Level Receivable or a
Receivable related to a Mortgage Loan or REO Property that is attributable to a Designated Servicing Agreement that is a Small Threshold Servicing Agreement, and if such Mortgage Loan-Level Market Value Ratio exceeds 50%; 

(ix) whether any Receivable, or any portion of the Receivables, attributable to a Designated Servicing Agreement, has a
Collateral Value of zero by virtue of the definition of “Collateral Value” or Section 5 of this Indenture Supplement; 

(x) a calculation of the Net Proceeds Coverage Percentage in respect of each of the three preceding Monthly Advance Collection
Periods (or each that has occurred since the date of this Indenture Supplement, if less than three), and the arithmetic average of the three; 

(xi) the Monthly Reimbursement Rate for the upcoming Payment Date or Interim Payment Date; 

(xii) whether any Target Amortization Amount that has become due and payable has been paid; 

(xiii) the Stressed Nonrecoverable Advance Amount for the upcoming Payment Date or Interim Payment Date; and 

(xiv) the Trigger Advance Rate for the Notes. 

(b) Series Payment Date Report. In conjunction with each Payment Date Report, the Indenture Trustee shall also report the Stressed Time
Percentage. 
 (c) Limitation on Indenture Trustee Duties. The Indenture Trustee shall have no independent duty to verify:
(1) Tangible Net Worth, (2) the occurrence of any of the events described in clauses (ii), (iii), (iv), (v), (vi), (vii), (viii), (ix), (x) or (xi) of the definition of “Target Amortization Event,” or
(3) compliance with clause (vi) of the definition of “Facility Eligible Servicing Agreement.” 

  
 25 

 Section 11.    Conditions Precedent Satisfied. 

The Issuer hereby represents and warrants to the Noteholders of the Series 2013-VF3 Notes and the Indenture Trustee that, as of the related
Issuance Date, each of the conditions precedent set forth in the Base Indenture, including but not limited to those conditions precedent set forth in Section 6.10(b) and Article XII thereof and Section 12 hereof, as applicable, have
been satisfied. 
 Section 12.    Representations, Warranties and Covenants. 

(a) The Issuer, the Administrator, the Servicer and the Indenture Trustee hereby restate as of the related Issuance Date, or as of such other
date as is specifically referenced in the body of such representation and warranty, all of the representations and warranties set forth in Sections 9.1, 10.1 and 11.14, respectively, of the Base Indenture. 

(b) Neither the Administrator nor or any of its Subsidiaries shall make any material change in the nature of its business as carried on at the
date hereof. 
 Section 13.    Amendments. 

(a) Notwithstanding any provisions to the contrary in Article XII of the Base Indenture, and in addition to and otherwise subject to the
provisions set forth in Sections 12.1 and 12.3 of the Base Indenture, without the consent of the Noteholders of any Notes or any other Person but with the consent of the Issuer (evidenced by its execution of such amendment), the Indenture Trustee,
the Administrator, the Servicer (solely in the case of any amendment that adversely affects the rights or obligations of the Servicer or adds new obligations or increases existing obligations of the Servicer), and the Administrative Agent, at any
time and from time to time, upon delivery of an Issuer Tax Opinion and upon delivery by the Issuer to the Indenture Trustee of an Officer’s Certificate to the effect that the Issuer reasonably believes that such amendment will not have an
Adverse Effect, may amend this Indenture Supplement for any of the following purposes: (i) to correct any mistake or typographical error or cure any ambiguity, or to cure, correct or supplement any defective or inconsistent provision herein or
any other Transaction Document; or (ii) to amend any other provision of this Indenture Supplement. For the avoidance of doubt, the consent of the Servicer is not required for (i) the waiver of any Event of Default, Target Amortization
Event or Facility Early Amortization Event or (ii) any other modification or amendment to any Event of Default, Target Amortization Event or Facility Early Amortization Event except those related to the actions and omissions of the Servicer.

 (b) Notwithstanding any provisions to the contrary in Section 6.10 or Article XII of the Base Indenture, no supplement, amendment or
indenture supplement entered into with respect to the issuance of a new Series of Notes or pursuant to the terms and provisions of Section 12.2 of the Base Indenture may, without the consent of 100% of the Noteholders of the Series 2013-VF3
Variable Funding Notes, supplement, amend or revise any term or provision of this Indenture Supplement. 

  
 26 

 Section 14.    Counterparts. 

This Indenture Supplement may be executed in any number of counterparts, by manual or facsimile signature, each of which so executed shall be
deemed to be an original, but all of such counterparts shall together constitute but one and the same instrument. 

Section 15.    Entire Agreement. 

This Indenture Supplement, together with the Base Indenture incorporated herein by reference, constitutes the entire agreement among the
parties hereto with respect to the subject matter hereof, and fully supersedes any prior or contemporaneous agreements relating to such subject matter. 

Section 16.    Limited Recourse. 

Notwithstanding any other terms of this Indenture Supplement, the Series 2013-VF3 Notes, any other Transaction Documents or otherwise, the
obligations of the Issuer under the Series 2013-VF3 Notes, this Indenture Supplement and each other Transaction Document to which it is a party are limited recourse obligations of the Issuer, payable solely from the Trust Estate, and following
realization of the Trust Estate and application of the proceeds thereof in accordance with the terms of this Indenture Supplement, none of the Noteholders of Series 2013-VF3 Notes, the Indenture Trustee or any of the other parties to the Transaction
Documents shall be entitled to take any further steps to recover any sums due but still unpaid hereunder or thereunder, all claims in respect of which shall be extinguished and shall not thereafter revive. No recourse shall be had for the payment of
any amount owing in respect of the Series 2013-VF3 Notes or this Indenture Supplement or for any action or inaction of the Issuer against any officer, director, employee, shareholder, stockholder or incorporator of the Issuer or any of their
successors or assigns for any amounts payable under the Series 2013-VF3 Notes or this Indenture Supplement. It is understood that the foregoing provisions of this Section 16 shall not (a) prevent recourse to the Trust Estate for the
sums due or to become due under any security, instrument or agreement which is part of the Trust Estate or (b) save as specifically provided therein, constitute a waiver, release or discharge of any indebtedness or obligation evidenced by the
Series 2013-VF3 Notes or secured by this Indenture Supplement. It is further understood that the foregoing provisions of this Section 16 shall not limit the right of any Person to name the Issuer as a party defendant in any proceeding or
in the exercise of any other remedy under the Series 2013-VF3 Notes or this Indenture Supplement, so long as no judgment in the nature of a deficiency judgment or seeking personal liability shall be asked for or (if obtained) enforced against any
such Person or entity. By its signature to this Agreement, each of the parties hereto (other than the Indenture Trustee), hereby waives and directs the Indenture Trustee to waive, the delivery of an Authorization Opinion in connection with the
execution and delivery of this Series Supplement. 
 Section 17.    Owner Trustee Limitation of Liability.

 It is expressly understood and agreed by the parties hereto that (a) this Indenture Supplement is executed and delivered by
Wilmington Trust, National Association, not individually or personally, but solely as Owner Trustee of the Issuer under the Trust Agreement, 

  
 27 

 
in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and
intended not as a personal representation, undertaking and agreement by Wilmington Trust, National Association, but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any
liability on Wilmington Trust, National Association, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person
claiming by, through or under the parties hereto and (d) under no circumstances shall Wilmington Trust, National Association, be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or
failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Indenture Supplement or the other Transaction Documents. 

Section 18.    Consent and Acknowledgement of Amendments. 

Morgan Stanley, in its capacity as Purchaser (together with its successors and permitted assigns, the “Purchaser”) has
consented to this Indenture Supplement and confirms that (i) it is the sole Noteholder of all the Outstanding Notes related to this Series with the right to instruct the Indenture Trustee, (ii) it is authorized to deliver this Indenture
Supplement, such power has not been granted or assigned to any other person and the Indenture Trustee may rely upon such certification, and (iii) it acknowledges and agrees that the amendments effected by this Indenture Supplement shall become
effective on the Effective Date. 
 Section 19.    Authorized Representatives and Wire Instructions of the
Administrative Agent. 
 Each individual designated as an authorized representative of the Administrative Agent (each, an
“Authorized Representative”), is authorized to give and receive notices, requests and instructions and to deliver certificates and documents in connection with this Agreement on behalf of each of the Administrative Agent, and the
specimen signature for each such Authorized Representative of the Administrative Agent initially authorized hereunder is set forth on Schedule 2 hereto. 

The payment instructions for the Administrative Agent are set forth on Schedule 3 hereto. 

From time to time, the Administrative Agent may, by delivering to the other parties hereto a revised schedule, change the information
previously given pursuant to this Section 19, but each of the parties hereto shall be entitled to rely conclusively on the then current schedule until receipt of a superseding schedule. 

[SIGNATURE PAGES FOLLOW.] 

  
 28 

 IN WITNESS WHEREOF, NRZ Servicer Advance Receivables Trust CS, as Issuer, Advance
Purchaser LLC, as Administrator and as Servicer (on and after the respective MSR Transfer Dates), Nationstar Mortgage LLC, as Administrator (prior to the Effective Date) and as Servicer (prior to the respective MSR Transfer Dates), Wells Fargo Bank,
N.A., as Indenture Trustee, Calculation Agent, Paying Agent and Securities Intermediary, Morgan Stanley Bank, N.A., as Administrative Agent, and Morgan Stanley Bank, N.A. as Purchaser have caused this Indenture Supplement relating to the Series
2013-VF3 Notes, to be duly executed by their respective officers thereunto duly authorized and their respective signatures duly attested all as of the day and year first above written. 

 

			
	 NRZ SERVICER ADVANCE

RECEIVABLES TRUST CS, as Issuer

	
	By: Wilmington Trust, National Association, not in its individual capacity but solely as Owner Trustee

					
			
		 	 By:
	 	/s/ Erwin M. Soriano

					
			
		 	 Name:
	 	Erwin M. Soriano
			
		 	Title:	 	Assistant Vice President

 [NRZ Servicer Advance Receivables Trust CS Series 2013-V3 Amended and Restated Indenture Supplement]

			
	NATIONSTAR MORTGAGE LLC

					
			
		 	 By:
	 	/s/ Ellen Coleman

					
			
		 	 Name:
	 	Ellen Coleman
			
		 	Title:	 	Executive Vice President

 [NRZ Servicer Advance Receivables Trust CS Series 2013-V3 Amended and Restated Indenture Supplement]

			
	  
 WELLS FARGO BANK, N.A., as Indenture Trustee,
Calculation Agent, Paying Agent and Securities Intermediary and not in its individual capacity

					
			
		 	 By:
	 	/s/ Mark DeFabio

					
			
		 	 Name:
	 	Mark DeFabio 
			
		 	Title:	 	Vice President

 [NRZ Servicer Advance Receivables Trust CS Series 2013-V3 Amended and Restated Indenture Supplement]

			
	  
 MORGAN STANLEY BANK, N.A.,

as Administrative Agent

					
			
		 	 By:
	 	/s/ Geoffrey Kott

					
			
		 	 Name:
	 	Geoffrey Kott
			
		 	Title:	 	Authorized Signatory

 [NRZ Servicer Advance Receivables Trust CS Series 2013-V3 Amended and Restated Indenture Supplement]

			
	  
 ADVANCE PURCHASER LLC

			
		
	 By:
	 	/s/ Cameron MacDougall

			
		
	 Name:
	 	Cameron MacDougall
		
	Title:	 	Secretary

 [NRZ Servicer Advance Receivables Trust CS Series 2013-V3 Amended and Restated Indenture Supplement]

			
	CONSENTED TO BY:
	
	MORGAN STANLEY BANK, N.A., as Administrative Agent of the Series 2013-VF3 Notes

					
			
		 	 By:
	 	/s/ Geoffrey Kott

					
			
		 	 Name:
	 	Geoffrey Kott
			
		 	Title:	 	Authorized Signatory

 [NRZ Servicer Advance Receivables Trust CS Series 2013-V3 Amended and Restated Indenture Supplement]

			
	CONSENTED TO BY:
	
	 MORGAN STANLEY BANK, N.A.,

as Purchaser of the Series 2013-VF3 Notes

					
			
		 	 By:
	 	/s/ Geoffrey Kott

					
			
		 	 Name:
	 	Geoffrey Kott
			
		 	Title:	 	Authorized Signatory

 [NRZ Servicer Advance Receivables Trust CS Series 2013-V3 Amended and Restated Indenture Supplement]

 SCHEDULE 1 

SERIES 2013-VF3 RESERVE ACCOUNT 
  

			
	Name of Bank:	  	Wells Fargo Bank, N.A.
	ABA Number of Bank:	  	
	Name of Account:	  	Corporate Trust Clearing
	Account Number at Bank:	  	
	For Further Credit To:	  	

  
 Schedule 1-1 

 SCHEDULE 2 

AUTHORIZED REPRESENTATIVES OF 

MORGAN STANLEY BANK, N.A. 
  

					
	 Name:
	  	 Title:
	  	 Signature:

	 Geoffrey Kott
	  	Managing Director	  	 /s/ Geoffrey Kott 

	 Christopher Schmidt
	  	Executive Director	  	/s/ Christopher Schmidt
	 Zachary Phelps
	  	Vice President	  	/s/ Zachary Phelps
	 Gene Nagotko
	  	Executive Director	  	/s/ Gene Nagotko
	 Darragh Dempsey
	  	Executive Director	  	/s/ Darragh Dempsey

  
 Schedule 2-1 

 SCHEDULE 3 

CITIBANK NA NEW YORK 
 ABA #: 

Morgan Stanley Bank 
 Account #: 

  
 Schedule 3-1Amended and Restated Receivables Sale Agreement

 Exhibit 10.1 

EXECUTION COPY 
 AMENDED AND
RESTATED RECEIVABLES SALE AGREEMENT 
 NATIONSTAR MORTGAGE LLC, 

as Servicer (prior to the respective MSR Transfer Dates) 

and 
 ADVANCE PURCHASER LLC, 

as Receivables Seller and as Servicer (on and after the respective MSR Transfer Dates) 

and 
 NRZ SERVICER ADVANCE
FACILITY TRANSFEROR BC, LLC, 
 as Depositor 

and consented to by 
 BARCLAYS
BANK PLC 
 and 
 SHEFFIELD
RECEIVABLES CORPORATION 
 Dated as of December 17, 2013 

NRZ SERVICER ADVANCE RECEIVABLES TRUST BC 

ADVANCE RECEIVABLES BACKED NOTES, ISSUABLE IN SERIES 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	Section 1.	 	 Definitions; Incorporation by Reference.
	  	 	4	  
	Section 2.	 	 Transfer of Receivables.
	  	 	7	  
	Section 3.	 	 Nationstar’s and Advance Purchaser’s Acknowledgment and Consent to Assignment.
	  	 	10	  
	Section 4.	 	 Representations, Warranties and Certain Covenants of Nationstar, as Servicer (prior to the respective MSR Transfer Dates) and as
Initial Receivables Seller.
	  	 	11	  
	Section 5.	 	 Representations, Warranties and Certain Covenants of Advance Purchaser, as Servicer (on and after the respective MSR Transfer Dates)
and as Receivables Seller.
	  	 	20	  
	Section 6.	 	 Termination.
	  	 	28	  
	Section 7.	 	 General Covenants of Nationstar, as Initial Receivables Seller (for certain Designated Servicing Agreements prior to the final MSR
Transfer Date) and Servicer (for certain Designated Servicing Agreements prior to the final MSR Transfer Date).
	  	 	28	  
	Section 8.	 	 General Covenants of Advance Purchaser, as Receivables Seller and Servicer (on and after the respective MSR Transfer
Dates).
	  	 	32	  
	Section 9.	 	 Grant Clause.
	  	 	35	  
	Section 10.	 	 Conveyance by Depositor; Grant by Issuer.
	  	 	36	  
	Section 11.	 	 Protection of Indenture Trustee’s Security Interest in Trust Estate.
	  	 	37	  
	Section 12.	 	 Indemnification by Nationstar.
	  	 	37	  
	Section 13.	 	 Indemnification by Advance Purchaser.
	  	 	39	  
	Section 14.	 	 Miscellaneous.
	  	 	41	  
	Section 15.	 	 Consent and Acknowledgement of the Amendments.
	  	 	43	  
			
	Schedule 1-A	 	 Form of Assignment of Advance Receivables
	  			
	Schedule 1-B	 	 Form of Assignment of Receivables
	  			
	Exhibit A	 	 Form of Subordinated Note
	  			

  
 i 

 RECEIVABLES SALE AGREEMENT 

This AMENDED AND RESTATED RECEIVABLES SALE AGREEMENT (as it may be amended, supplemented, restated or otherwise modified from time to
time, this “Agreement”) is made as of December 17, 2013 (the “Effective Date”), by and among Nationstar Mortgage LLC, a limited liability company organized under the laws of the State of Delaware
(“Nationstar”), as initial receivables seller and as servicer (prior to the respective MSR Transfer Dates), Advance Purchaser LLC, a limited liability company organized under the laws of the State of Delaware
(“Advance Purchaser”), as receivables seller and as servicer (on and after the respective MSR Transfer Dates), and NRZ Servicer Advance Facility Transferor BC, LLC, a limited liability company organized under the laws of the
State of Delaware, as depositor (the “Depositor”), and is consented to by 100% of the Noteholders and the Administrative Agent. 

RECITALS 
 A. The
Depositor is a special purpose Delaware limited liability company. The Depositor and Nationstar are parties to that certain Receivables Sale Agreement (the “Original Receivables Sale Agreement”), dated as of
September 19, 2013 (the “Closing Date”). Pursuant to Section 11(a) of the Original Receivables Sale Agreement, Nationstar and the Depositor may amend the Original Receivables Sale Agreement by written instrument
upon delivery of an Issuer Tax Opinion and, so long as the Notes are outstanding, the Administrative Agent and Noteholders of more than the Series Required Noteholders of each Series shall have consented thereto. The Depositor, Advance Purchaser and
Nationstar wish to amend and restate in its entirety the Original Receivables Sale Agreement in accordance with Section 11(a) of the Original Receivables Sale Agreement, pursuant to the terms set forth in this Agreement. 

B. Nationstar acts as the servicer under one or more servicing agreements (each, as it may be amended, supplemented, restated, or
otherwise modified from time to time, a “Servicing Agreement” and, collectively, the “Servicing Agreements”). Certain Servicing Agreements (each, as may be amended, supplemented, restated or otherwise
modified from time to time, a “Designated Servicing Agreement” and, collectively, the “Designated Servicing Agreements”) will be designated as described herein for inclusion under this Agreement, the
Receivables Pooling Agreement (defined below) and the Indenture (defined below). 
 C. Nationstar is selling the servicing rights
under the Designated Servicing Agreements to Advance Purchaser. Prior to the MSR Transfer Date with respect to any Designated Servicing Agreement, Nationstar shall continue to (i) be the “Servicer” under such Designated Servicing
Agreement, (ii) have the obligation to make the required Advances under such Designated Servicing Agreement, (iii) have the right to collect the related Receivables in reimbursement of such Advances, and (iv) have the right to collect
Receivables in existence on the Effective Date related to Advances. Prior to the related MSR Transfer Date, upon its disbursement of an Advance pursuant to a Designated Servicing Agreement, Nationstar, as servicer, becomes the beneficiary of a
contractual right to be reimbursed for such Advance in accordance with the terms of the related Designated Servicing Agreement and, immediately upon their creation, Nationstar shall sell the related Receivables to Advance Purchaser for cash purchase
prices equal to 100% of their respective Receivable Balances pursuant to this Agreement and the Purchase Agreement (defined below), and Advance Purchaser shall sell and/or contribute the Receivables it purchases from Nationstar, to the Depositor as
described in Paragraph G. below. 

 D. When all required consents and ratings agency letters required for a formal change of the
named servicer under a Designated Servicing Agreement from Nationstar to Advance Purchaser shall have been obtained, Nationstar shall transfer to Advance Purchaser all of the servicing rights and obligations under such Designated Servicing Agreement
(such date, the related “MSR Transfer Date”) pursuant to the Master Servicing Rights Purchase Agreement, dated as of the date hereof, and any related Sale Supplement executed from time to time, by and between Nationstar and
Advance Purchaser (each as amended, restated, supplemented or otherwise modified from time to time, collectively, the “Purchase Agreement”). On and after the MSR Transfer Date for any Designated Servicing Agreement, Advance
Purchaser shall (i) be the “Servicer” under such Designated Servicing Agreement, (ii) have the obligation to make the required Advances under such Designated Servicing Agreement, (iii) have the right to collect the related
Receivables in reimbursement of such Advances, and (iv) have the right to collect Receivables in existence on the MSR Transfer Date related to Advances. Upon its disbursement of an Advance pursuant to a Designated Servicing Agreement, Advance
Purchaser, as servicer (on and after the related MSR Transfer Date), becomes the beneficiary of a contractual right to be reimbursed for such Advance in accordance with the terms of the related Designated Servicing Agreement. Nationstar will
initially be engaged by Advance Purchaser as subservicer for all of the Designated Servicing Agreements as to which the related MSR Transfer Date has occurred under a subservicing agreement (a “Subservicing Agreement”). Other
subservicers may be appointed for some or all of the Designated Servicing Agreements or for other servicing rights acquired by Advance Purchaser from time to time in compliance with Section 5(a)(xxxiii) hereof. 

E. NRZ Servicer Advance Receivables Trust BC (the “Issuer”), Advance Purchaser, as servicer (on and after the
respective MSR Transfer Dates) and as Administrator (in such capacity, the “Administrator”), Nationstar, as servicer (prior to the respective MSR Transfer Dates) and as subservicer, Wells Fargo Bank, N.A., as Indenture
Trustee (the “Indenture Trustee”), as Calculation Agent, as Paying Agent and as Securities Intermediary, Barclays Bank PLC (“Barclays”), as administrative agent (the “Administrative
Agent”) and Sheffield Receivables Corporation propose to enter into an Amended and Restated Indenture (as it may be amended, supplemented, restated, or otherwise modified from time to time and including any indenture supplement, the
“Indenture”), dated as of even date herewith, amending and restating that certain Indenture, dated as of September 19, 2013 (the “Original Indenture”). 

F. Pursuant to the Series 2013-VF1 Indenture Supplement, dated as of September 19, 2013, among the Issuer, the Indenture Trustee,
Nationstar and Barclays (the “Series 2013-VF1 Indenture Supplement”), the Issuer issued four (4) Classes of Series 2013-VF1 Notes (Class A-VF1, Class B-VF1, Class C-VF1 and Class D-VF1) (the “Series 2013-VF1
Variable Funding Notes”). The Series 2013-VF1 Variable Funding Notes issued by the Issuer pursuant to the Series 2013-VF1 Indenture Supplement are collateralized by the Aggregate Receivables and related property and certain monies in
respect thereof now owned and to be hereafter acquired by the Issuer. 

  
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 G. Advance Purchaser desires to sell and/or contribute, assign, transfer and convey to the
Depositor all of its contractual rights (A) to reimbursement pursuant to the terms of a Designated Servicing Agreement for an Advance that it either acquires from Nationstar (before the related MSR Transfer Date) or creates as a result of
making Advances (on and after the related MSR Transfer Date) (any right to reimbursement in respect of any such Advance, an “Advance Receivable”), and (B) to payment pursuant to the terms of a Designated Servicing Agreement
listed on the Designated Servicing Agreement Schedule for a Deferred Servicing Fee which has been accrued by Nationstar (before the related MSR Transfer Date) and sold by Nationstar to Advance Purchaser pursuant to the Purchase Agreement or accrued
by Advance Purchaser (on and after the related MSR Transfer Date) but not paid, and including in either case all rights of Nationstar or Advance Purchaser, as the case may be, to enforce payment of such obligation under the related Designated
Servicing Agreement (any right to payment in respect of such Deferred Servicing Fee, a “Deferred Servicing Fee Receivable”) from the date hereof through the Receivables Sale Termination Date under the Designated Servicing
Agreements, pursuant to the terms of this Agreement. The Depositor will contemporaneously enter into an Amended and Restated Receivables Pooling Agreement, dated as of even date herewith (as may be amended, supplemented, restated or otherwise
modified from time to time, the “Receivables Pooling Agreement”), amending and restating that certain Receivables Pooling Agreement, dated as of September 19, 2013 (the “Original Receivables Pooling
Agreement”), with the Issuer pursuant to which the Depositor will sell and/or contribute, assign, transfer and convey to the Issuer immediately upon the Depositor’s acquisition thereof, all Receivables acquired by the Depositor
from Advance Purchaser pursuant to this Agreement; provided, however, that all Receivables in existence on the Effective Date shall have been transferred from Nationstar to the Depositor under the Original Receivables Sale Agreement
and from the Depositor to the Issuer under the Original Receivables Pooling Agreement prior to the Effective Date. 
 H. In consideration of
each transfer by Advance Purchaser to the Depositor of the Transferred Assets on and after the Effective Date on the terms and subject to the conditions set forth in this Agreement, the Depositor has agreed to pay to Advance Purchaser a purchase
price equal to 100% of the fair market value thereof on the related Sale Date. To the extent the portion of the purchase price actually paid in cash by the Depositor for the Transferred Assets is less than 100% of the fair market value thereof, the
balance of the purchase price shall be paid by the Depositor to Advance Purchaser on the Effective Date and on each subsequent Sale Date, by keeping the proceeds of a borrowing under a Subordinated Note issued by the Depositor to Advance Purchaser
in an amount equal to the amount by which the Purchase Price of such Receivable exceeds the portion of the cash purchase price actually paid therefor. 

  
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 AGREEMENT 

NOW, THEREFORE, in consideration of the above premises and of the mutual promises hereinafter set forth, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

Section 1. Definitions; Incorporation by Reference. 

(a) This Agreement is entered into in connection with the terms and conditions of the Indenture. Any capitalized term used but not defined
herein shall have the meaning given to it in the Indenture. Furthermore, for any capitalized term defined herein but defined in greater detail in the Indenture, the detailed information from the Indenture shall be incorporated herein by reference.

 Additional Receivables: As defined in Section 2(a)(iii). 

Administrative Agent: As defined in the Recitals. 

Administrator: As defined in the Recitals. 
 Advance
Purchaser: As defined in the Preamble. 
 Advance Purchaser Purchase Price: As defined in Section 2(c). 

Advance Purchaser Related Documents: As defined in Section 5(a)(iii). 

Advance Receivables: As defined in the Recitals. 

Aggregate Receivables: (i) All Initial Receivables under a Designated Servicing Agreement sold and/or contributed by Nationstar to the Depositor
under the Original Receivables Sale Agreement, (ii) any Nationstar Additional Advance Receivables acquired by Advance Purchaser from Nationstar prior to the related MSR Transfer Date, (iii) any Deferred Servicing Fee Receivables arising
under a Designated Servicing Agreement from and after the Effective Date and (iv) any Advance Receivables arising under each Designated Servicing Agreement from and after the related MSR Transfer Date. 

Agreement: As defined in the Preamble. 
 Assignment of
Advance Receivables: Each agreement documenting an assignment by Nationstar to Advance Purchaser substantially in the form set forth on Schedule 1-A. 

Assignment of Receivables: Each agreement documenting an assignment by Advance Purchaser to the Depositor substantially in the form set forth on
Schedule 1-B. 
 Barclays: As defined in the Recitals. 

Closing Date: As defined in the Recitals. 
 Deferred
Servicing Fee Receivables: As defined in the Recitals. 
 Depositor: As defined in the Preamble. 

Designated Servicing Agreement and Designated Servicing Agreements: As defined in the Recitals. 

  
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 Effective Date: As defined in the Preamble. 

Indemnification Amounts: As defined in Section 13(c). 

Indemnified Party: As defined in Section 13(c). 

Indemnity Payment: As defined in Section 4(d). 

Indenture: As defined in the Recitals. 
 Indenture
Trustee: As defined in the Recitals. 
 Initial Receivables: As defined in Section 2(a). 

Issuer: As defined in the Recitals. 
 MSR Transfer
Date: As defined in the Recitals. 
 Nationstar: As defined in the Preamble. 

Nationstar Additional Advance Receivables: As defined in Section 2(a)(ii). 

Nationstar Additional Deferred Servicing Fee Receivables: As defined in Section 2(a)(ii). 

Nationstar Additional Receivables: As defined in Section 2(a)(ii). 

Nationstar Advance Receivable Transferred Assets: As defined in Section 2(a)(ii). 

Nationstar Deferred Servicing Fee Receivable Transferred Assets: As defined in Section 2(a)(ii). 

Nationstar Indemnification Amounts: As defined in Section 12(c). 

Nationstar Indemnified Party: As defined in Section 12(c). 

Nationstar Receivables: Together, the Initial Receivables and the Nationstar Additional Receivables. 

Nationstar Related Documents: As defined in Section 4(a)(iii). 

Nationstar Transferred Assets: As defined in Section 2(a)(ii). 

Original Indenture: As defined in the Recitals. 

Original Receivables Pooling Agreement: As defined in the Recitals. 

Original Receivables Sale Agreement: As defined in the Recitals. 

Original Transferred Assets: As defined in Section 2(a)(i). 

  
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 Purchase: Each purchase by the Depositor from Advance Purchaser, as receivables seller, of Transferred
Assets. 
 Purchase Agreement: As defined in the Recitals. 

Purchase Price: As defined in Section 2(d). 

Receivable: Each Advance Receivable and each Deferred Servicing Fee Receivable. 

Receivables Pooling Agreement: As defined in the Recitals. 

Receivables Sale Termination Date: The date, after the conclusion of the Revolving Period, on which all amounts due on all Classes of Notes issued by
the Issuer pursuant to the Indenture, and all other amounts payable to any party pursuant to the Indenture, shall have been paid in full. 
 Removed
Servicing Agreement: As defined in Section 2(d). 
 Sale Date: (i) With respect to the Initial Receivables, each date from and
including the Closing Date to the Effective Date on which such Initial Receivable was sold and/or contributed, assigned, transferred and conveyed by Nationstar to the Depositor pursuant to the terms of the Original Receivables Sale Agreement and
(ii) with respect to any Additional Receivables, each date from and including the Effective Date to the Receivables Sale Termination Date on which such Additional Receivable is sold and/or contributed, assigned, transferred and conveyed by
Advance Purchaser to the Depositor pursuant to the terms of this Agreement. 
 Series: As defined in the Indenture. 

Series Required Noteholders: As defined in the Indenture. 

Series 2013-VF1 Variable Funding Notes: As defined in the Recitals. 

Servicing Agreement and Servicing Agreements: As defined in the Recitals. 

Stop Date: As defined in Section 2(e). 

Subordinated Note: The promissory note in substantially the form of Exhibit A hereto as more fully described in Section 2(d), as the
same may be amended, restated, supplemented or otherwise modified from time to time. 
 Subservicer: Nationstar or other subservicers that may be
engaged by Advance Purchaser as subservicer for all of the Designated Servicing Agreements or for other servicing rights acquired by Advance Purchaser from time to time. 

Subservicing Agreement: As defined in the Recitals. 

Transferred Assets: As defined in Section 2(a)(iii). 

UCC: The Uniform Commercial Code in effect in all applicable jurisdictions. 

  
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 (b) The Designated Servicing Agreement Schedule, as may be amended, supplemented, restated, or
otherwise modified from time to time in accordance with the Transaction Documents, is incorporated by this reference into this Agreement. 

Section 2. Transfer of Receivables. 

(a) Transferred Assets. 

(i) From the Closing Date to the Effective Date, Nationstar sold and/or contributed, assigned, transferred, and conveyed to the
Depositor, and the Depositor acquired from Nationstar, without recourse except as provided under the Original Receivables Sale Agreement, all of Nationstar’s right, title and interest, whether now owned or hereafter acquired, in, to and under
each Receivable (1) in existence on the Closing Date and in existence on any Business Day after the Closing Date and prior to the Effective Date that arose under any Servicing Agreement that was listed as a “Designated Servicing
Agreement” on the Designated Servicing Agreement Schedule as of the date such Receivable was created (the “Initial Receivables”), and (2) all monies due or to become due and all amounts received or receivable with
respect thereto and all proceeds (including “proceeds” as defined in the UCC), together with all rights of Nationstar to enforce such Initial Receivables (collectively, the “Original Transferred Assets”). 

(ii) Commencing on the Effective Date, and until the opening of business on the MSR Transfer Date for each Designated Servicing
Agreement, Nationstar shall sell, assign, transfer and convey to Advance Purchaser, for a cash purchase price equal to 100% of the Receivable Balance thereof, (1) each Advance Receivable in existence on any Business Day on and after the
Effective Date and until the opening of business on the related MSR Transfer Date and which arises under any Servicing Agreement that is listed as a “Designated Servicing Agreement” on the Designated Servicing Agreement Schedule as of the
date such Receivable is created (“Nationstar Additional Advance Receivables”), and (2) all monies due or to become due and all amounts received or receivable with respect thereto and all proceeds (including
“proceeds” as defined in the UCC), together with all rights of Advance Purchaser to enforce such Nationstar Additional Advance Receivables (collectively, the “Nationstar Advance Receivable Transferred Assets”).
Nationstar affirms that it has sold, assigned, transferred and conveyed to Advance Purchaser pursuant to the Purchase Agreement each Deferred Servicing Fee Receivable in existence on any Business Day on and after the Effective Date and until the
opening of business on the related MSR Transfer Date and which arises under any Servicing Agreement that is listed as a “Designated Servicing Agreement” on the Designated Servicing Agreement Schedule as of the date such Receivable is
created (“Nationstar Additional Deferred Servicing Fee Receivables” and together with the Nationstar Additional Advance Receivables, the “Nationstar Additional Receivables”), and (2) all monies
due or to become due and all amounts received or receivable with respect thereto and all proceeds (including “proceeds” as defined in the UCC), together with all rights of Advance Purchaser to enforce such Nationstar Additional Deferred
Servicing Fee Receivables (collectively, the “Nationstar Deferred Servicing Fee Receivable Transferred Assets” and together with the Nationstar Advance Receivable Transferred Assets, the “Nationstar Transferred
Assets”). 

  
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 (iii) Commencing on the Effective Date, and until the close of business on the
Receivables Sale Termination Date, subject to the provisions of this Agreement, Advance Purchaser hereby sells and/or contributes, assigns, transfers and conveys to the Depositor, and the Depositor purchases and acquires from Advance Purchaser
without recourse except as provided herein, all of Advance Purchaser’s right, title and interest, whether now owned or hereafter acquired, in, to and under (1) each Receivable in existence on any Business Day on and after the Effective
Date and prior to the Receivables Sale Termination Date (including the Nationstar Additional Receivables) that arises under any Servicing Agreement that is listed as a “Designated Servicing Agreement” on the Designated Servicing Agreement
Schedule as of the date such Receivable is created (“Additional Receivables”), and (2) all monies due or to become due and all amounts received or receivable with respect thereto and all proceeds (including
“proceeds” as defined in the UCC) (including the Nationstar Transferred Assets), together with all rights of Advance Purchaser to enforce such Additional Receivables (including the Nationstar Transferred Assets) (collectively, the
“Transferred Assets”). Nationstar and Advance Purchaser hereby affirm that Deferred Servicing Fee Receivables that are ineligible for financing under the Indenture will not be sold or transferred under the Purchase Agreement
or hereunder and shall not otherwise constitute “Receivables” for purposes hereof or any other Transaction Document. Until the Receivables Sale Termination Date, Advance Purchaser shall, automatically and without any further action on its
part, sell and/or contribute, assign, transfer and convey to the Depositor, on each Business Day, each Additional Receivable not previously transferred to the Depositor and the Depositor shall purchase each such Additional Receivable together with
all of the other Transferred Assets related to such Receivable. 
 (b) Nationstar and the Depositor hereby agree that no further transfers
will be made pursuant to any Assignment of Receivables dated prior to the Effective Date. 
 (c) Advance Purchaser’s Purchase Price
to Nationstar. In consideration of the sale to Advance Purchaser of the Nationstar Additional Advance Receivables and related Nationstar Advance Receivable Transferred Assets, on the terms and subject to the conditions set forth in this
Agreement, Advance Purchaser shall, on each Sale Date, or otherwise promptly following such Sale Date if so agreed by Nationstar and Advance Purchaser, pay and deliver to Nationstar, in immediately available funds, a purchase price (the
“Advance Purchaser Purchase Price”) equal to 100% of the sum of the Receivable Balances of all Advance Receivables sold by Nationstar to Advance Purchaser on such Sale Date. For convenience purposes, Advance Purchaser may pay
the cash purchase price for Nationstar Additional Advance Receivables periodically rather than daily, but notwithstanding any delay in or failure of payment, Nationstar sells, assigns, transfers and conveys each Nationstar Additional Advance
Receivable to Advance Purchaser when it is created in consideration of the transactions contemplated under the Purchase Agreement and Advance Purchaser’s promise to pay the related Advance Purchaser Purchase Price pursuant to this section. 

  
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 (d) Depositor’s Purchase Price. In consideration of the sale, assignment, transfer
and conveyance to the Depositor of the Aggregate Receivables and related Transferred Assets, on the terms and subject to the conditions set forth in this Agreement, the Depositor shall, on each Sale Date, or otherwise promptly following such Sale
Date if so agreed by Advance Purchaser and the Depositor, pay and deliver to Advance Purchaser, in immediately available funds, a purchase price (the “Purchase Price”) equal to the fair market value of the Receivables sold by
Advance Purchaser to the Depositor on such Sale Date. To the extent that the Purchase Price of the Additional Receivables is greater than the cash portion of the Purchase Price, then the Depositor shall (i) first, pay such portion of the
Purchase Price in the form of a borrowing under the Promissory Note in the form attached hereto as Exhibit A; provided however, that the Depositor may not make any borrowing under the Subordinated Note unless at the time of (and immediately
after) each borrowing thereunder, both before and after the sale transaction (1) the Depositor’s total assets exceed its total liabilities, (2) the Depositor’s cash on hand is sufficient to satisfy all of its current obligations
(other than its obligations under the Subordinated Note and the obligation to pay the Purchase Price), (3) the Depositor is adequately capitalized at a commercially reasonable level and (4) the Depositor has determined that its financial
capacity to meet its financial commitment under the Subordinated Note is adequate and (ii) second, to the extent the Depositor cannot make a borrowing under the Subordinated Note, accept a contribution to its capital from Advance Purchaser in
an amount equal to the remaining unpaid portion of the Purchase Price. Advance Purchaser is hereby authorized by the Depositor to endorse on the schedule attached to the Subordinated Note an appropriate notation evidencing the date and amount
of each advance thereunder, as well as the date of each payment with respect thereto, provided that the failure to make such notation shall not affect any obligation of the Depositor thereunder. Advance Purchaser shall record in its books
and records all increases in and payments in reduction of the outstanding principal amount of the Subordinated Note. 
 (e) Removal of
Designated Servicing Agreements or Receivables. On any date on and/or after the satisfaction of all conditions specified in Section 2.1(c)(ii) of the Indenture, Advance Purchaser may remove a Designated Servicing Agreement from the
Designated Servicing Agreement Schedule (each such Servicing Agreement so removed, a “Removed Servicing Agreement”). Upon the removal of a Designated Servicing Agreement from the Designated Servicing Agreement Schedule,
(i) except if Advance Purchaser conducts a Permitted Refinancing, all Receivables related to Advances made by or Deferred Servicing Fees accrued by the Servicer under such Removed Servicing Agreement previously transferred to the Depositor and
Granted to the Indenture Trustee for inclusion in the Trust Estate, shall remain subject to the lien of the Indenture, in which case the Receivables Seller may not assign to another Person any Receivables arising under that Removed Servicing
Agreement until all Receivables that arose under that Removed Servicing Agreement that are included in the Trust Estate shall have been paid in full or sold in a Permitted Refinancing, and (ii) all Receivables related to such Removed Servicing
Agreement arising on or after the date that the related Servicing Agreement was removed from the Designated Servicing Agreement Schedule (the “Stop Date”) shall not be sold to the Depositor and shall not constitute Additional
Receivables. 
 (f) Nationstar Marking of Books and Records. Nationstar shall, at its own expense, on or prior to the applicable Sale
Date, in the case of Nationstar Additional Receivables, indicate in its books and records (including its computer records) that the Receivables arising under each Designated Servicing Agreement and the related Nationstar Transferred Assets have been
sold, 

  
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assigned, transferred and conveyed to Advance Purchaser in accordance with this Agreement and the Purchase Agreement. Nationstar shall not alter the indication referenced in this paragraph with
respect to any Receivable during the term of this Agreement (except in accordance with Section 9(a)). If a third party, including a potential purchaser of a Receivable, should inquire as to the status of the Receivables, Nationstar shall
promptly indicate to such third party that the Receivables have been sold, assigned, transferred and conveyed and Nationstar (except in accordance with Section 9(a)) shall not claim any right, title or interest (including, but not
limited to ownership interest) therein. 
 (g) Advance Purchaser Marking of Books and Records. Advance Purchaser shall, at its own
expense, on or prior to the applicable Sale Date, in the case of Additional Receivables, indicate in its books and records (including its computer records) that the Receivables arising under each Designated Servicing Agreement and the related
Transferred Assets have been sold, assigned, transferred and conveyed to the Depositor in accordance with this Agreement. Advance Purchaser shall not alter the indication referenced in this paragraph with respect to any Receivable during the term of
this Agreement (except in accordance with Section 9(b)). If a third party, including a potential purchaser of a Receivable, should inquire as to the status of the Receivables, Advance Purchaser shall promptly indicate to such third party
that the Receivables have been sold, assigned, transferred and conveyed and Advance Purchaser (except in accordance with Section 9(b)) shall not claim any right, title or interest (including, but not limited to ownership interest)
therein. 
 Section 3. Nationstar’s and Advance Purchaser’s Acknowledgment and Consent to Assignment. 

(a) Acknowledgment and Consent to Assignment. Each of Nationstar and Advance Purchaser hereby acknowledges that the Depositor has sold
and/or contributed, assigned, transferred and conveyed to the Issuer, and that the Issuer has Granted to the Indenture Trustee, on behalf of the Noteholders, the rights (but not the obligations) of the Depositor under this Agreement, including,
without limitation, the right to enforce the obligations of each of Nationstar and Advance Purchaser hereunder. Each of Nationstar and Advance Purchaser hereby consents to such Grant by the Issuer to the Indenture Trustee pursuant to the Indenture
and acknowledges that each of the Issuer and the Indenture Trustee (on behalf of itself, the Noteholders, any Supplemental Credit Enhancement Provider and any Liquidity Provider) shall be a third party beneficiary in respect of the representations,
warranties, covenants, rights, indemnities and other benefits arising hereunder that are so Granted by the Issuer. Moreover, each of Nationstar and Advance Purchaser hereby authorizes and appoints as its attorney-in-fact the Depositor, the Issuer
and the Indenture Trustee, as the Issuer’s assignee, on behalf of the Depositor, to execute and deliver such documents or certificates as may be necessary in order to enforce its rights under this Agreement and its rights to collect the
Aggregate Receivables. 
 (b) Access to Records. In connection with the conveyances hereunder and under the Purchase Agreement, each
Nationstar and Advance Purchaser hereby grants to the Depositor (and its assigns) an irrevocable license to access all records relating to the Aggregate Receivables, without the need for any further documentation in connection with any conveyance
hereunder; provided, however, that the Depositor (and its assigns) may not exercise any right under such license until an Event of Default has occurred and is continuing; and provided further

  
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that such license is for the limited purpose of administering and accounting for the Aggregate Receivables. In connection with such license, and subject to the foregoing provisos, each of
Nationstar and Advance Purchaser hereby grants to the Depositor (and its assigns) an irrevocable, non-exclusive license (subject to the restrictions contained in any license with respect thereto) to use, without royalty or payment of any kind, all
software used by Nationstar or Advance Purchaser, as receivables seller or as servicer as the case may be, to account for the Aggregate Receivables, to the extent necessary to administer the Aggregate Receivables and such software is owned by
Nationstar or Advance Purchaser, as the case may be. With respect to software owned by others and used by Nationstar or Advance Purchaser, as the case may be, under license agreements, Nationstar or Advance Purchaser, as the case may be, shall
cooperate with the Depositor (and its assigns) to identify such software and the applicable licensors thereof and provide such other information available to it and reasonably necessary in order for the Depositor to obtain its own licenses with
respect to such software. The licenses granted by Nationstar or Advance Purchaser, as the case may be, pursuant to this Section 3 with respect to software owned by it shall be irrevocable and shall terminate, with respect to Nationstar,
on the last MSR Transfer Date, and with respect to Advance Purchaser, on the Receivables Sale Termination Date. 
 Section 4.
Representations, Warranties and Certain Covenants of Nationstar, as Servicer (prior to the respective MSR Transfer Dates) and as Initial Receivables Seller.  

Nationstar, as initial receivables seller and as servicer (prior to the respective MSR Transfer Dates), hereby makes the following
representations, warranties and covenants for the benefit of Advance Purchaser, on which Advance Purchaser is relying in purchasing its residual interest in the entities that hold the Initial Receivables, subject to the Indenture, and the Nationstar
Additional Receivables and executing this Agreement. The representations are made as of the date of this Agreement and the Purchase Agreement and as of each Sale Date prior to the related MSR Transfer Date, except as set forth herein with respect to
the representations of Nationstar in its capacity as Subservicer. Such representations and warranties shall survive the sale and/or contribution, assignment, transfer and conveyance of any Initial Receivables to the Depositor prior to the Effective
Date, or the sale, assignment, transfer and conveyance of any Nationstar Additional Receivables and any other related Nationstar Transferred Assets to Advance Purchaser. Nationstar affirms all representations and warranties and covenants that it has
heretofore made under the Original Receivables Sale Agreement. Additionally, Nationstar affirms all representations and warranties and covenants that it has made under the Purchase Agreement. 

(a) General Representations, Warranties and Covenants. 

(i) Organization and Good Standing. Nationstar is a limited liability company duly organized and validly existing under
the laws of the State of Delaware, with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and had at all relevant times, and now has and until the
final MSR Transfer Date, will continue to have, power, authority and legal right to acquire, own, hold, transfer, assign and convey the Nationstar Additional Receivables. 

  
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 (ii) Due Qualification. Nationstar is and will continue to be duly
qualified to do business as a limited liability company in good standing, and has obtained and will keep in full force and effect all necessary licenses, permits and approvals, in all jurisdictions in which the ownership or lease of property or the
conduct of its business shall require such qualifications, licenses, permits or approvals and as to which the failure to obtain or to keep in full force and effect such licenses, permits or approvals would have a material and adverse impact upon the
value or collectability of the Nationstar Additional Receivables and such failure cannot be subsequently cured for the purposes of enforcing contracts. 

(iii) Power and Authority. From the Effective Date and until the final MSR Transfer Date, Nationstar has and will
continue to have all requisite limited liability company power and authority to own the Nationstar Additional Receivables, and Nationstar has and will continue to have all requisite limited liability company power and authority to execute and
deliver this Agreement, the Purchase Agreement, each other Transaction Document to which it is a party and any and all other instruments and documents necessary to consummate the transactions contemplated hereby or thereby (collectively, the
“Nationstar Related Documents”), and to perform each of its obligations under this Agreement and under the Nationstar Related Documents, and to consummate the transactions contemplated hereby and thereby. The execution and
delivery of this Agreement by Nationstar, and the execution and delivery of each of the applicable Nationstar Related Documents by Nationstar, the performance by Nationstar of its obligations hereunder and thereunder, and the consummation of the
transactions contemplated hereby and thereby have each been duly authorized by Nationstar and no further limited liability company action or other actions are required to be taken by Nationstar in connection therewith. 

(iv) Valid Transfer. Upon the execution and delivery of this Agreement, the related Assignment of Advance Receivables by
each of the parties hereto and thereto and delivery of and the Designated Servicing Agreement Schedule, this Agreement and such Assignment of Advance Receivables shall evidence a valid sale and/or contribution, transfer, assignment and conveyance of
the Nationstar Additional Advance Receivables as of the applicable Sale Date to Advance Purchaser prior to the final MSR Transfer Date, which is enforceable against creditors of and purchasers from Nationstar except as such enforceability may be
limited by bankruptcy, insolvency or similar laws and by equitable principles. Upon the execution and delivery the Purchase Agreement, the Purchase Agreement shall evidence a valid sale, transfer, assignment and conveyance of the Nationstar
Additional Deferred Servicing Fee Receivables as of the Effective Date to Advance Purchaser prior to the final MSR Transfer Date, which is enforceable against creditors of and purchasers from Nationstar except as such enforceability may be limited
by bankruptcy, insolvency or similar laws and by equitable principles. 
 (v) Binding Obligation. The Purchase
Agreement, this Agreement and each of the other Transaction Documents to which Nationstar is a party has been, or when delivered will have been, duly executed and delivered and each constitutes the legal, valid and binding obligation of Nationstar,
enforceable against Nationstar, in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency or similar laws and by equitable principles. 

  
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 (vi) Good Title. Immediately prior to each purchase of Nationstar
Additional Receivables hereunder or under the Purchase Agreement, as applicable, Nationstar is the legal and beneficial owner of each such Receivable and the related Nationstar Transferred Assets with respect thereto, free and clear of any Adverse
Claims other than Permitted Liens; and immediately upon the transfer and assignment thereof, Advance Purchaser will have good and marketable title to, with the right to sell and encumber, each Nationstar Additional Receivable, whether now existing
or hereafter arising, together with the related Nationstar Transferred Assets with respect thereto, free and clear of any Adverse Claims other than Permitted Liens. 

(vii) Perfection. 

(A) This Agreement and the Purchase Agreement creates a valid and continuing security interest (as defined in the applicable
UCC) in the Nationstar Additional Receivables and the related Nationstar Transferred Assets with respect thereto in favor of Advance Purchaser, which security interest is prior to all other Adverse Claims, and is enforceable as such against
creditors of and purchasers from Nationstar; 
 (B) Nationstar has caused the filing of all appropriate financing statements
in the proper filing office in the appropriate jurisdictions under the UCC in order to perfect the security interest in the Nationstar Additional Receivables and the related Nationstar Transferred Assets granted to Advance Purchaser hereunder and
under the Purchase Agreement; and 
 (C) Nationstar has not pledged, assigned, sold, granted a security interest in, or
otherwise conveyed any of the Nationstar Additional Receivables and the related Nationstar Transferred Assets, other than under this Agreement and the Purchase Agreement, except pursuant to any agreement that has been terminated on or prior to the
date hereof. Nationstar has not authorized the filing of and is not aware of any financing statement filed against it covering the Nationstar Additional Receivables and the related Nationstar Transferred Assets other than those filed in connection
with this Agreement, the Purchase Agreement and the other Transaction Documents and those that have been terminated on or prior to the date hereof or for which the lien with respect to the Receivables has been released. Nationstar is not aware of
any judgment or tax lien filings against it. 
 (viii) No Violation. Neither the execution, delivery and performance
of this Agreement, the Purchase Agreement, the other Transaction Documents to which it is a party or the applicable Nationstar Related Documents by Nationstar, nor the consummation by Nationstar of the transactions contemplated hereby or thereby nor
the fulfillment of or compliance with the terms and conditions of this Agreement, the Purchase Agreement, the Nationstar Related Documents or the other Transaction 

  
 -13- 

 
Documents to which Nationstar is a party (A) will violate the organizational documents of Nationstar, (B) will constitute a default (or an event which, with notice or lapse of time or
both, would constitute a default), or result in a breach or acceleration of, any material indenture, agreement or other material instrument to which Nationstar or any of its Affiliates is a party or by which it or any of them is bound, or which may
be applicable to Nationstar, (C) constitutes a default (whether with notice or lapse of time or both), or results in the creation or imposition of any Adverse Claim upon any of the property or assets of Nationstar under the terms of any of the
foregoing, or (D) violates any statute, ordinance or law or any rule, regulation, order, writ, injunction or decree of any court or of any public, governmental or regulatory body, agency or authority applicable to Nationstar or its properties.

 (ix) No Proceedings. There is no action, suit or proceeding before or by any court or governmental agency or body,
domestic or foreign, now pending, or to Nationstar’s knowledge, threatened, against Nationstar (A) in which a third party not affiliated with the Indenture Trustee or a Noteholder asserts the invalidity of any of the Transaction Documents,
(B) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by any of the Transaction Documents, (C) seeking any determination or ruling that should reasonably be expected to affect
materially and adversely the performance by Nationstar or its Affiliates of their obligations under, or the validity or enforceability of, any of the Transaction Documents or (D) relating to Nationstar or its Affiliates and which should
reasonably be expected to affect adversely the federal income tax attributes of the Notes. 
 (x) Reserved. 

(xi) Reserved. 

(xii) No Violation of Exchange Act or Regulations T, U or X. None of the transactions contemplated in the Transaction
Documents (including the use of the proceeds from the sale of the Notes) will result in a violation of Section 7 of the Exchange Act, or any regulations issued pursuant thereto, including Regulations T, U and X of the Board of Governors of the
Federal Reserve System, 12 C.F.R., Chapter II. 
 (xiii) All Consents Obtained. All approvals, authorizations,
consents, orders or other actions of any persons or of any governmental body or official required in connection with the execution and delivery by Nationstar of the Purchase Agreement, this Agreement and the Transaction Documents to which Nationstar
is a party, the performance by Nationstar of the transactions contemplated by the Purchase Agreement, this Agreement and the other Transaction Documents to which it is a party and the fulfillment by Nationstar of the terms hereof and thereof,
including without limitation, the transfer of Receivables from Nationstar to Advance Purchaser, have been obtained. 

  
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 (xiv) Not an Investment Company. Nationstar is not required to be
registered as an “investment company” or a company “controlled” by a company required to be registered as an “investment company” within the meaning of the Investment Company Act, and none of the execution, delivery or
performance of obligations under this Agreement, the Purchase Agreement or any of the Transaction Documents, or the consummation of any of the transactions contemplated thereby (including, without limitation, the sale of the Transferred Assets
hereunder) will violate any provision of the Investment Company Act, or any rule, regulation or order issued by the Securities and Exchange Commission thereunder. 

(xv) All Taxes, Fees and Charges Relating to Transaction and Transaction Documents Paid. Any taxes, fees and other
governmental charges due and payable by Nationstar in connection with the execution and delivery of the Purchase Agreement, this Agreement and the transactions contemplated hereby have been or will be paid by Nationstar at or prior to the date of
this Agreement. 
 (xvi) No Broker, Finder or Financial Adviser Other Than Pursuant to a Note Purchase Agreement. None
of Nationstar nor any of its officers, directors, employees or agents has employed any broker, finder or financial adviser or incurred any liability for fees or commissions to any person except in connection with the offering, issuance or sale of
the Notes of any Class (other than any Retained Notes) pursuant to a Note Purchase Agreement. 
 (xvii) Solvency.
Nationstar, both prior to and after giving effect to each sale of Receivables with respect to the Designated Servicing Agreements on each Sale Date or on the Effective Date, as applicable prior to the final MSR Transfer Date, (1) is not, and
will not be, “insolvent” (as such term is defined in § 101(32)(A) of the Bankruptcy Code), (2) is, and will be, able to pay its debts as they become due, and (3) does not have unreasonably small capital for the business in
which it is engaged or for any business or transaction in which it is about to engage. 
 (xviii) Information to Note
Rating Agencies. All information provided by Nationstar to any Note Rating Agency, taken together, is true and correct in all material respects. 

(xix) No Fraudulent Conveyance. Nationstar is selling the Nationstar Additional Receivables to Advance Purchaser in
furtherance of its ordinary business purposes, with no intent to hinder, delay or defraud any of its creditors. 
 (xx)
Ability to Perform Obligations. Nationstar does not believe, nor does it have any reasonable cause to believe, that it cannot perform each and every covenant contained in this Agreement. 

(xxi) Information. No document, certificate or report furnished by Nationstar in writing pursuant to this Agreement, any
other Transaction Document or in connection with the transactions contemplated hereby or thereby, taken together, contains or will contain when furnished any untrue statement of a material fact. There are no facts

  
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relating to and known by Nationstar which when taken as a whole may impair the ability of Nationstar to perform its obligations under this Agreement or any other Transaction Document, which have
not been disclosed herein or in the certificates and other documents furnished by or on behalf of Nationstar pursuant hereto or thereto specifically for use in connection with the transactions contemplated hereby or thereby. 

(xxii) Fair Consideration. The aggregate consideration received by Nationstar pursuant to this Agreement and the
Purchase Agreement is fair consideration having reasonably equivalent value to the value of the Aggregate Receivables and the performance of the obligations of Nationstar, as receivables seller, hereunder. 

(xxiii) Bulk Transfer. No sale, contribution, transfer, assignment or conveyance of Receivables by Nationstar to Advance
Purchaser contemplated by this Agreement or the Purchase Agreement will be subject to the bulk transfer or any similar statutory provisions in effect in any applicable jurisdiction. 

(xxiv) Name. The legal name of Nationstar is as set forth in this Agreement and Nationstar does not have any trade
names, fictitious names, assumed names or “doing business” names. 
 (xxv) Default. As of the Effective Date
and until the final MSR Transfer Date, Nationstar is not in default (or subject to termination as servicer (prior to the respective MSR Transfer Dates)) under any material agreement, contract, instrument or indenture to which such Person is a party
or by which it or its properties is or are bound (including without limitation, each Designated Servicing Agreement), or with respect to any order of any court, administrative agency, arbitrator or governmental body which should reasonably be
expected to have a material adverse effect on the transactions contemplated hereunder, and no event has occurred which with notice or lapse of time or both would constitute such a default with respect to any such agreement, contract, instrument or
indenture, or with respect to any such order of any court, administrative agency, arbitrator or governmental body. 
 (xxvi)
Repayment of Receivables. Nationstar has no reason to believe that at the time of the transfer of any Receivables to Advance Purchaser pursuant hereto or the Purchase Agreement prior to the final MSR Transfer Date, such Receivables will not
be paid in full. 
 (xxvii) Reserved. 

(xxviii) Eligible Subservicer. With respect to any Designated Servicing Agreement, on and after each MSR Transfer Date,
Nationstar is an Eligible Subservicer. 
 (xxix) No Change in Condition of Nationstar. Since March 31, 2013,
there has been no change in the business, operations, financial condition, properties or assets of Nationstar which would have a material adverse effect on its ability to perform its obligations under this Agreement, the Purchase Agreement or any
other Transaction Document or materially adversely affect the transactions contemplated under this Agreement or any other Transaction Document to which it is a party. 

  
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 (xxx) Good Standing. Nationstar is in good standing to sell and service
mortgage loans and no event has occurred which would make Nationstar unable to comply with eligibility requirements or which would require notification to any state or federal regulatory agency or body. 

(xxxi) Compliance With Laws. Nationstar has complied or shall comply in all respects with all applicable laws, rules,
regulations, orders, writs, judgments, injunctions or decrees to which it may be subject, except where the failure to so comply should not be reasonably expected to have an Adverse Effect or a material adverse effect on the financial condition or
operations of Nationstar, or the ability of Nationstar to perform its obligations hereunder, under the Purchase Agreement or under any of the other Transaction Documents to which it is a party. 

(xxxii) Accounting. Nationstar accounts for the transactions contemplated by this Agreement as a sale of the Receivables
from Nationstar to Advance Purchaser. 
 (b) Representations, Warranties and Covenants of Nationstar Concerning the Initial Receivables
and Nationstar Additional Receivables. 
 (i) Facility Eligible Receivables. Each Nationstar Receivable is payable
in United States dollars, is a Facility Eligible Receivable and is transferred pursuant to a Designated Servicing Agreement that is a Facility Eligible Servicing Agreement (except those transferred pursuant to any Ineligible Designated Servicing
Agreement), and, if it is an Advance Receivable, the Advance related to such Nationstar Receivable has been fully funded by Nationstar (or any predecessor servicer) using its own funds and/or Amounts Held for Future Distribution (to the extent
permitted under the related Designated Servicing Agreement) and/or amounts received by Nationstar from Advance Purchaser under this Agreement; provided that notwithstanding the foregoing, Nationstar makes no representation or warranty (i) as to
the status of title or any interest of the Depositor, the Issuer or the Indenture Trustee to or in any Nationstar Additional Receivables, (ii) with respect to any transfer of Receivable by Advance Purchaser, the Depositor or the Issuer,
(iii) as to any actions or inactions of Advance Purchaser, the Depositor or the Issuer concerning the Receivables, (iv) as to clause (vii) of the definition of “Facility Eligible Receivable,” (except to the extent covered in
other representations by Nationstar in this Agreement). (v) that any determination of the Administrative Agent in clause (xiv) of the definition of “Facility Eligible Receivable” has been satisfied or (vi) with respect to
Receivables arising under any Ineligible Designated Servicing Agreement. Each Receivable arises from an Advance or Deferred Servicing Fee for which Nationstar is entitled to reimbursement or payment, as applicable, pursuant to a Designated Servicing
Agreement. 
 (ii) Assignment Permitted under Servicing Agreements. Each Nationstar Receivable arising under a
Designated Servicing Agreement is fully transferable and such transfer will not violate the terms of, or require the consent of any Person under the related Designated Servicing Agreement or any other document or agreement to which Nationstar is a
party or to which its assets or properties are subject. 

  
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 (iii) Schedule of Receivables. The information set forth in the Schedule
of Receivables hereto shall be true and correct as of the date of this Agreement and each Funding Date. 
 (iv) No
Fraud. As of any Sale Date through the final MSR Transfer Date, with respect to the Nationstar Receivables transferred on such date, no Receivable has been identified by Nationstar or reported to Nationstar by the related MBS Trustee as having
resulted from fraud perpetrated by any Person. 
 (v) No Impairment of Nationstar’s Rights. As of the Effective
Date, or as of any Sale Date with respect to any Nationstar Receivables sold by Nationstar through the final MSR Transfer Date on such date, neither Nationstar nor any other Person has taken any action that, or failed to take any action the omission
of which, would materially impair its rights or the rights of its assignees, with respect to any Nationstar Receivables. 

(vi) No Defenses. As of the related Sale Date through the final MSR Transfer Date, each Nationstar Receivable represents
valid entitlement to be paid, has not been repaid in whole or in part or been compromised, adjusted, extended, satisfied, subordinated, rescinded, waived, amended or modified, and is not subject to compromise, adjustment, extension, satisfaction,
subordination, rescission, set-off, counterclaim, defense, waiver, amendment or modification by any Person. 
 (vii) No
Action to Impair Collectability. Nationstar has not taken (or omitted to take) and will not take (or omit to take), and has no notice that any other Person has taken (or omitted to take) or will take (or omit to take) any action that could
impair the collectability of any Nationstar Receivable. 
 (viii) No Pending Proceedings. There are no proceedings
pending, or, to the best of Nationstar’s knowledge, threatened, wherein any governmental agency has (A) alleged that any Nationstar Receivable is illegal or unenforceable, (B) asserted the invalidity of any Nationstar Receivable or
(C) sought any determination or ruling that might adversely affect the payment or enforceability of any Receivable. 

(ix) Nationstar’s Reporting Obligations. With respect to each Nationstar Receivable, Nationstar is not aware of any
circumstances which could reasonably be expected to make it unable to perform its reporting obligations as set forth in the Indenture in any material respect. 

(x) UCC Classification. No Nationstar Receivable is secured by “real property” or “fixtures” or
evidenced by an “instrument” under and as defined in the UCC. The Nationstar Receivables constitute “general intangibles,” “accounts,” or “payment intangibles” within the meaning of the applicable UCC. 

(xi) Enforceability; Compliance with Laws. Each Nationstar Receivable is enforceable in accordance with its terms set
forth in the related Designated Servicing Agreement. Each Advance complied with all applicable laws, including those relating to consumer protection, is valid and enforceable and, at the time it is sold to Advance Purchaser, will not be subject to
any set-off, counterclaim or other defense to payment by the Obligor, the related securitization trust, the related MBS Trustee, or any other party. 

  
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 (xii) No Consent Required. Each Nationstar Receivable is assignable by
Nationstar, and by Advance Purchaser and its successors and assigns, without the consent of any other Person (except any such consent that shall have been obtained), and upon acquiring the Receivables Advance Purchaser will have the right to pledge
the Nationstar Receivables without the consent of any other Person (except any such consent that shall have been obtained) and without any other restrictions on such pledge. 

(xiii) No Government Receivables. No Nationstar Receivable is due from the United States of America or any state or from
any agency, department or instrumentality of the United States of America or any state thereof. 
 (c) Survival. It is understood and
agreed that the representations and warranties set forth in Section 4(a) and Section 4(b) shall continue throughout the term of this Agreement. 

It is understood and agreed that the representations and warranties made by Nationstar, as initial receivables seller and as servicer (prior
to the respective MSR Transfer Dates), pursuant to this Agreement, on which the Depositor and the Issuer relied in accepting the Initial Receivables, and pursuant to this Agreement and the Purchase Agreement, on which Advance Purchaser, the
Depositor and the Issuer are relying in accepting the Nationstar Additional Receivables, on which Advance Purchaser and the Depositor is relying in executing this Agreement, on which the Issuer is relying in executing the Receivables Pooling
Agreement and on which the Noteholders are relying in purchasing the Notes, and the rights and remedies of Advance Purchaser and its assignees under this Agreement and the Purchase Agreement against Nationstar pursuant to this Agreement, inure to
the benefit of Advance Purchaser, the Depositor, the Issuer, the Indenture Trustee for the benefit of the Noteholders, as the assignees of Advance Purchaser’s rights hereunder and under the Purchase Agreement. Such representations and
warranties and the rights and remedies for the breach thereof shall survive the sale, assignment, transfer and conveyance of any Nationstar Receivables from Nationstar to Advance Purchaser and its assignees, and the conveyance thereof by Advance
Purchaser to the Depositor and its assignees, and the pledge thereof by the Issuer to the Indenture Trustee for the benefit of the Noteholders and shall be fully exercisable by the Indenture Trustee for the benefit of the Noteholders. 

(d) Remedies Upon Breach. Nationstar shall inform Advance Purchaser, the Indenture Trustee and the Administrative Agent promptly, in
writing, upon the discovery of any breach of its representations, warranties or covenants hereunder. Unless such breach shall have been cured or waived within thirty (30) days after the earlier to occur of the discovery of such breach by
Nationstar or receipt of written notice of such breach by Nationstar, such that, in the case of a representation and warranty, such representation and warranty shall be true and correct in all material respects as if made on such day, and Nationstar
shall have delivered to Advance Purchaser an officer’s certificate describing the nature of such breach and the manner in which the relevant representation and warranty became true and correct or the breach was otherwise cured, Nationstar shall
indemnify its assignees (including Advance Purchaser, the Depositor, the Issuer, the Indenture Trustee and each of their respective assignees), against and hold its assignees (including Advance Purchaser, the Depositor, the Issuer, the Indenture
Trustee and 

  
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each of their respective assignees) harmless from any cost, liability and expense, including, without limitation, reasonable attorneys’ fees and expenses, whether incurred in enforcement
proceedings between the parties or otherwise, incurred as a result of, or arising from, such breach, the amount of which shall equal the Receivables Balance of any affected Nationstar Receivable and each such purchase or indemnification amount to be
paid hereunder, an “Indemnity Payment”. This Section 4(d) sets forth the exclusive remedy for a breach of representation, warranty or covenant by Nationstar, pertaining to a Nationstar Receivable sold by Nationstar.
Notwithstanding the foregoing, the breach of any representation, warranty or covenant shall not be waived by the Issuer under any circumstances without the consent of the Majority Holders of all Outstanding Notes. 

Section 5. Representations, Warranties and Certain Covenants of Advance Purchaser, as Servicer (on and after the respective MSR
Transfer Dates) and as Receivables Seller. 
 Advance Purchaser, as receivables seller and as servicer (on and after the respective
MSR Transfer Dates), hereby makes the following representations, warranties and covenants for the benefit of the Depositor, the Issuer, and the Indenture Trustee for the benefit of the Noteholders, on which the Depositor is relying in purchasing the
Aggregate Receivables and executing this Agreement, on which the Issuer is relying in purchasing the Aggregate Receivables and executing the Receivables Pooling Agreement, and on which the Noteholders are relying in purchasing the Notes. The
representations are made as of the date of this Agreement, and as of each Sale Date. Such representations and warranties shall survive the sale and/or contribution, assignment, transfer and conveyance of any Receivables and any other related
Transferred Assets to the Depositor and the Issuer. 
 (a) General Representations, Warranties and Covenants. 

(i) Organization and Good Standing. Advance Purchaser is a limited liability company duly organized and validly existing
under the laws of the State of Delaware, with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and had at all relevant times, and now has and so
long as any Notes are outstanding, will continue to have, power, authority and legal right to acquire, own, hold, transfer, assign and convey the Receivables. 

(ii) Due Qualification. Advance Purchaser is and will continue to be duly qualified to do business as a limited
liability company in good standing, and has obtained and will keep in full force and effect all necessary licenses, permits and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require
such qualifications, licenses, permits or approvals and as to which the failure to obtain or to keep in full force and effect such licenses, permits or approvals would have a material and adverse impact upon the value or collectability of the
Receivables and such failure cannot be subsequently cured for the purposes of enforcing contracts. 
 (iii) Power and
Authority. Advance Purchaser has and will continue to have all requisite limited liability company power and authority to own the Receivables, and 

  
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Advance Purchaser has and will continue to have all requisite limited liability company power and authority to execute and deliver this Agreement, the initial Designated Servicing Agreement
Schedule and each subsequent Designated Servicing Agreement Schedule, each other Transaction Document to which it is a party and any and all other instruments and documents necessary to consummate the transactions contemplated hereby or thereby
(collectively, the “Advance Purchaser Related Documents”), and to perform each of its obligations under this Agreement and under the Advance Purchaser Related Documents, and to consummate the transactions contemplated hereby
and thereby. The execution and delivery of this Agreement by Advance Purchaser, and the execution and delivery of each of the Related Documents by Advance Purchaser, the performance by Advance Purchaser of its obligations hereunder and thereunder,
and the consummation of the transactions contemplated hereby and thereby have each been duly authorized by Advance Purchaser and no further limited liability company action or other actions are required to be taken by Advance Purchaser in connection
therewith. 
 (iv) Valid Transfer. Upon the execution and delivery of this Agreement, each Assignment of Receivables
and the Designated Servicing Agreement Schedule by each of the parties hereto, this Agreement shall evidence a valid sale, transfer, assignment and conveyance of the Additional Receivables as of the applicable Sale Date to the Depositor, which is
enforceable against creditors of and purchasers from Advance Purchaser except as such enforceability may be limited by bankruptcy, insolvency or similar laws and by equitable principles. 

(v) Binding Obligation. This Agreement and each of the other Transaction Documents to which Advance Purchaser is a party
has been, or when delivered will have been, duly executed and delivered and constitutes the legal, valid and binding obligation of Advance Purchaser, enforceable against Advance Purchaser, in accordance with its terms, except as such enforceability
may be limited by bankruptcy, insolvency or similar laws and by equitable principles. 
 (vi) Good Title. Immediately
prior to each Purchase of Receivables hereunder, Advance Purchaser is the legal and beneficial owner of each such Receivable and the related Transferred Assets with respect thereto, free and clear of any Adverse Claims other than Permitted Liens;
and immediately upon the transfer and assignment thereof, the Depositor and its assignees will have good and marketable title to, with the right to sell and encumber, each Receivable, whether now existing or hereafter arising, together with the
related Transferred Assets with respect thereto, free and clear of any Adverse Claims other than Permitted Liens. 
 (vii)
Perfection. 
 (A) This Agreement creates a valid and continuing security interest (as defined in the applicable UCC)
in the Aggregate Receivables and the related Transferred Assets with respect thereto in favor of the Depositor, which security interest is prior to all other Adverse Claims, and is enforceable as such against creditors of and purchasers from Advance
Purchaser; 

  
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 (B) Advance Purchaser has caused the filing of all appropriate financing
statements in the proper filing office in the appropriate jurisdictions under the UCC in order to perfect the security interest in the Aggregate Receivables and the related Transferred Assets granted to the Depositor hereunder; and 

(C) Advance Purchaser has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the
Aggregate Receivables and the related Transferred Assets, other than under this Agreement, except pursuant to any agreement that has been terminated on or prior to the date hereof. Advance Purchaser has not authorized the filing of and is not aware
of any financing statement filed against it, the Depositor or the Issuer covering the Aggregate Receivables and the related Transferred Assets other than those filed in connection with this Agreement and the other Transaction Documents and those
that have been terminated on or prior to the date hereof or for which the lien with respect to the Receivables has been released. Advance Purchaser is not aware of any judgment or tax lien filings against it. 

(viii) No Violation. Neither the execution, delivery and performance of this Agreement, the other Transaction Documents
or the Related Documents by Advance Purchaser, nor the consummation by Advance Purchaser of the transactions contemplated hereby or thereby nor the fulfillment of or compliance with the terms and conditions of this Agreement, the Related Documents
or the other Transaction Documents to which Advance Purchaser is a party (A) will violate the organizational documents of Advance Purchaser, (B) will constitute a default (or an event which, with notice or lapse of time or both, would
constitute a default), or result in a breach or acceleration of, any material indenture, agreement or other material instrument to which Advance Purchaser or any of its Affiliates is a party or by which it or any of them is bound, or which may be
applicable to Advance Purchaser, (C) constitutes a default (whether with notice or lapse of time or both), or results in the creation or imposition of any Adverse Claim upon any of the property or assets of Advance Purchaser under the terms of
any of the foregoing, or (D) violates any statute, ordinance or law or any rule, regulation, order, writ, injunction or decree of any court or of any public, governmental or regulatory body, agency or authority applicable to Advance Purchaser
or its properties. 
 (ix) No Proceedings. There is no action, suit or proceeding before or by any court or
governmental agency or body, domestic or foreign, now pending, or to Advance Purchaser’s knowledge, threatened, against Advance Purchaser (A) in which a third party not affiliated with the Indenture Trustee or a Noteholder asserts the
invalidity of any of the Transaction Documents, (B) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by any of the Transaction Documents, (C) seeking any determination or ruling that
should reasonably be expected to affect materially and adversely the performance by Advance Purchaser or its Affiliates of their obligations under, or the validity or enforceability of, any of the Transaction Documents or (D) relating to
Advance Purchaser or its Affiliates and which should reasonably be expected to affect adversely the federal income tax attributes of the Notes. 

  
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 (x) Ownership of Depositor. As of the Effective Date, Advance Purchaser
will acquire from Nationstar 100% of the membership interest in the Depositor. No Person other than Advance Purchaser has any rights to acquire membership interests in the Depositor. Advance Purchaser shall not assign, sell, convey or otherwise
transfer its ownership of the membership interest in the Depositor, without the prior written consent of the Administrative Agent, which consent shall not be unreasonably withheld, it being understood that the Administrative Agent shall consider,
among other things, whether there continues to be adequate consideration for the Receivables transfers from Advance Purchaser to the Depositor, following any such transfer. 

(xi) Ownership of Issuer. 100% of the Owner Trust Certificate of the Issuer is owned by the Depositor. No Person other
than the Depositor has any rights to acquire all or any portion of the Owner Trust Certificate in the Issuer. 
 (xii) No
Violation of Exchange Act or Regulations T, U or X. None of the transactions contemplated in the Transaction Documents (including the use of the proceeds from the sale of the Notes) will result in a violation of Section 7 of the Exchange
Act, or any regulations issued pursuant thereto, including Regulations T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R., Chapter II. 

(xiii) All Consents Obtained. All approvals, authorizations, consents, orders or other actions of any persons or of any
governmental body or official required in connection with the execution and delivery by Advance Purchaser or the Depositor of this Agreement and the Transaction Documents to which Advance Purchaser, the Depositor or the Issuer is a party, the
performance by Advance Purchaser of the transactions contemplated by this Agreement and the other Transaction Documents to which it is a party and the fulfillment by Advance Purchaser of the terms hereof and thereof, including without limitation,
the transfer of Receivables from Advance Purchaser to the Depositor and from the Depositor to the Issuer and the pledge thereof by the Issuer to the Indenture Trustee, have been obtained. 

(xiv) Not an Investment Company. None of Advance Purchaser, the Depositor, the Issuer nor the Trust Estate is required
to be registered as an “investment company” or a company “controlled” by a company required to be registered as an “investment company” within the meaning of the Investment Company Act, and none of the execution,
delivery or performance of obligations under this Agreement or any of the Transaction Documents, or the consummation of any of the transactions contemplated thereby (including, without limitation, the sale of the Transferred Assets hereunder) will
violate any provision of the Investment Company Act, or any rule, regulation or order issued by the Securities and Exchange Commission thereunder. 

(xv) All Taxes, Fees and Charges Relating to Transaction and Transaction Documents Paid. Any taxes, fees and other
governmental charges due and payable by Advance Purchaser, the Depositor or the Issuer in connection with the execution and delivery of this Agreement and the transactions contemplated hereby have been or will be paid by Advance Purchaser or the
Depositor at or prior to the date of this Agreement. 

  
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 (xvi) No Broker, Finder or Financial Adviser Other Than Pursuant to a Note
Purchase Agreement. None of Advance Purchaser nor any of its officers, directors, employees or agents has employed any broker, finder or financial adviser or incurred any liability for fees or commissions to any person except in connection with
the offering, issuance or sale of the Notes of any Class (other than any Retained Notes) pursuant to a Note Purchase Agreement. 

(xvii) Solvency. Advance Purchaser, both prior to and after giving effect to each sale of Receivables with respect to
the Designated Servicing Agreements on each Sale Date, (1) is not, and will not be, “insolvent” (as such term is defined in § 101(32)(A) of the Bankruptcy Code), (2) is, and will be, able to pay its debts as they become due,
and (3) does not have unreasonably small capital for the business in which it is engaged or for any business or transaction in which it is about to engage. 

(xviii) Information to Note Rating Agencies. All information provided by Advance Purchaser to any Note Rating Agency,
taken together, is true and correct in all material respects. 
 (xix) No Fraudulent Conveyance. Advance Purchaser is
selling the Aggregate Receivables to the Depositor in furtherance of its ordinary business purposes, with no intent to hinder, delay or defraud any of its creditors. 

(xx) Ability to Perform Obligations. Advance Purchaser does not believe, nor does it have any reasonable cause to
believe, that it cannot perform each and every covenant contained in this Agreement. 
 (xxi) Information. No
document, certificate or report furnished by Advance Purchaser in writing pursuant to this Agreement, any other Transaction Document or in connection with the transactions contemplated hereby or thereby, taken together, contains or will contain when
furnished any untrue statement of a material fact. There are no facts relating to and known by Advance Purchaser which when taken as a whole may impair the ability of Advance Purchaser to perform its obligations under this Agreement or any other
Transaction Document, which have not been disclosed herein or in the certificates and other documents furnished by or on behalf of Advance Purchaser pursuant hereto or thereto specifically for use in connection with the transactions contemplated
hereby or thereby. 
 (xxii) Fair Consideration. The aggregate consideration received by Advance Purchaser, as
receivables seller, pursuant to this Agreement is fair consideration having reasonably equivalent value to the value of the Aggregate Receivables and the performance of the obligations of Advance Purchaser, as receivables seller, hereunder. 

(xxiii) Bulk Transfer. No sale, contribution, transfer, assignment or conveyance of Receivables by Advance Purchaser, as
receivables seller, to the Depositor contemplated by this Agreement or by the Depositor to the Issuer pursuant to the Receivables Pooling Agreement will be subject to the bulk transfer or any similar statutory provisions in effect in any applicable
jurisdiction. 

  
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 (xxiv) Name. The legal name of Advance Purchaser is as set forth in this
Agreement and Advance Purchaser does not have any trade names, fictitious names, assumed names or “doing business” names. 

(xxv) Default. None of Advance Purchaser, the Depositor or the Issuer is in default (or, with respect to Advance
Purchaser, subject to termination as servicer (on and after the respective MSR Transfer Dates)) under any material agreement, contract, instrument or indenture to which such Person is a party or by which it or its properties is or are bound
(including without limitation, each Designated Servicing Agreement), or with respect to any order of any court, administrative agency, arbitrator or governmental body which should reasonably be expected to have a material adverse effect on the
transactions contemplated hereunder, and no event has occurred which with notice or lapse of time or both would constitute such a default with respect to any such agreement, contract, instrument or indenture, or with respect to any such order of any
court, administrative agency, arbitrator or governmental body. 
 (xxvi) Repayment of Receivables. Advance Purchaser
has no reason to believe that at the time of the transfer of any Receivables to the Depositor pursuant hereto, such Receivables will not be paid in full. 

(xxvii) [Reserved]. 

(xxviii) [Reserved]. 

(xxix) No Change in Condition of Advance Purchaser. Since the date of its formation, there has been no change in the
business, operations, financial condition, properties or assets of Advance Purchaser which would have a material adverse effect on its ability to perform its obligations under this Agreement or any other Transaction Document or materially adversely
affect the transactions contemplated under this Agreement or any other Transaction Document. 
 (xxx) Good Standing.
Advance Purchaser is in good standing to sell and service mortgage loans and no event has occurred which would make Advance Purchaser unable to comply with eligibility requirements or which would require notification to any state or federal
regulatory agency or body. 
 (xxxi) Compliance With Laws. Advance Purchaser has complied or shall comply in all
respects with all applicable laws, rules, regulations, orders, writs, judgments, injunctions or decrees to which it may be subject, except where the failure to so comply should not be reasonably expected to have an Adverse Effect or a material
adverse effect on the financial condition or operations of Nationstar, or the ability of Advance Purchaser, the Depositor or the Issuer to perform their respective obligations hereunder or under any of the other Transaction Documents. 

(xxxii) Accounting. Advance Purchaser accounts for the transactions contemplated by this Agreement as a sale from
Nationstar to the Depositor, except to the extent that such sales are not recognized under GAAP due to consolidated financial reporting. 

  
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 (xxxiii) Appointment of Subservicers. Advance Purchaser shall not appoint
any Subservicer other than Nationstar unless and until each rating agency that rated the related mortgage-backed securities as stated in the documentation for the related securitization trust (if applicable to the related Mortgage Pool), shall have
delivered written confirmation that the appointment of such Subservicer will not result in a reduction of the then-current ratings of such securities, if rating agency confirmation is required for the appointment of a subservicer under the related
Servicing Agreement. 
 (b) Representations, Warranties and Covenants of Advance Purchaser Concerning the Receivables. 

(i) Facility Eligible Receivables. Each Receivable is payable in United States dollars, is a Facility Eligible
Receivable and is transferred pursuant to a Designated Servicing Agreement that is a Facility Eligible Servicing Agreement (except those transferred pursuant to any Ineligible Designated Servicing Agreement); provided that notwithstanding the
foregoing, Advance Purchaser makes no representation or warranty with respect to Receivables arising under any Ineligible Designated Servicing Agreement. Each Receivable arises from an Advance or Deferred Servicing Fee for which Advance Purchaser is
entitled to reimbursement or payment, as applicable, pursuant to a Designated Servicing Agreement. 
 (ii) Assignment
Permitted under Servicing Agreements. Each Receivable arising under a Designated Servicing Agreement is fully transferable and such transfer will not violate the terms of, or require the consent of any Person under the related Designated
Servicing Agreement or any other document or agreement to which Nationstar is a party or to which its assets or properties are subject. 

(iii) Schedule of Receivables. The information set forth in the Schedule of Receivables hereto shall be true and correct
as of the date of this Agreement and each Funding Date. 
 (iv) No Fraud. As of any Sale Date, with respect to the
Receivables transferred on such date, no Receivable has been identified by Advance Purchaser or reported to Nationstar by the related MBS Trustee as having resulted from fraud perpetrated by any Person. 

(v) No Impairment of Advance Purchaser’s Rights. As of the Effective Date, or as of any Sale Date with respect to
any Receivables sold on such date, neither Advance Purchaser nor any other Person has taken any action that, or failed to take any action the omission of which, would materially impair its rights or the rights of its assignees, with respect to any
Receivables. 
 (vi) No Defenses. As of the related Sale Date, each Receivable represents valid entitlement to be
paid, has not been repaid in whole or in part or been compromised, adjusted, extended, satisfied, subordinated, rescinded, waived, amended or modified, and is not subject to compromise, adjustment, extension, satisfaction, subordination, rescission,
set-off, counterclaim, defense, waiver, amendment or modification by any Person. 

  
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 (vii) No Action to Impair Collectability. Advance Purchaser has not taken
(or omitted to take) and will not take (or omit to take), and has no notice that any other Person has taken (or omitted to take) or will take (or omit to take) any action that could impair the collectability of any Receivable. 

(viii) No Pending Proceedings. There are no proceedings pending, or, to the best of Advance Purchaser’s knowledge,
threatened, wherein any governmental agency has (A) alleged that any Receivable is illegal or unenforceable, (B) asserted the invalidity of any Receivable or (C) sought any determination or ruling that might adversely affect the
payment or enforceability of any Receivable. 
 (ix) Advance Purchaser’s Reporting Obligations. With respect to
each Receivable, Advance Purchaser is not aware of any circumstances which could reasonably be expected to make it unable to perform its reporting obligations as set forth in the Indenture in any material respect. 

(x) UCC Classification. No Receivable is secured by “real property” or “fixtures” or evidenced by an
“instrument” under and as defined in the UCC. The Aggregate Receivables constitute “general intangibles,” “accounts,” or “payment intangibles” within the meaning of the applicable UCC. 

(xi) Enforceability; Compliance with Laws. Each Receivable is enforceable in accordance with its terms set forth in the
related Designated Servicing Agreement. Each Advance complied with all applicable laws, including those relating to consumer protection, is valid and enforceable and, at the time it is sold to the Depositor, will not be subject to any set-off,
counterclaim or other defense to payment by the Obligor, the related securitization trust, the related MBS Trustee, or any other party. 

(xii) No Consent Required. Each Receivable is assignable by Advance Purchaser, and by the Depositor and its successors
and assigns, without the consent of any other Person (except any such consent that shall have been obtained), and upon acquiring the Receivables the Issuer will have the right to pledge the Receivables without the consent of any other Person (except
any such consent that shall have been obtained) and without any other restrictions on such pledge. 
 (xiii) No Government
Receivables. No Receivable is due from the United States of America or any state or from any agency, department or instrumentality of the United States of America or any state thereof. 

(c) Survival. It is understood and agreed that the representations and warranties set forth in Section 5(a) and
Section 5(b) shall continue throughout the term of this Agreement. 
 It is understood and agreed that the representations and
warranties made by Advance Purchaser, as receivables seller and as servicer (on and after the respective MSR Transfer Dates), pursuant to this Agreement, on which the Depositor and the Issuer are relying in accepting the

  
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Receivables, on which the Depositor is relying in executing this Agreement, on which the Issuer is relying in executing the Receivables Pooling Agreement and on which the Noteholders are relying
in purchasing the Notes, and the rights and remedies of the Depositor and its assignees under this Agreement against Advance Purchaser pursuant to this Agreement, inure to the benefit of the Depositor, the Issuer, the Indenture Trustee for the
benefit of the Noteholders, as the assignees of Advance Purchaser’s rights hereunder. Such representations and warranties and the rights and remedies for the breach thereof shall survive the sale and/or contribution, assignment, transfer and
conveyance of any Receivables from Advance Purchaser to the Depositor and its assignees, and the pledge thereof by the Issuer to the Indenture Trustee for the benefit of the Noteholders and shall be fully exercisable by the Indenture Trustee for the
benefit of the Noteholders. 
 (d) Remedies Upon Breach. Advance Purchaser shall inform the Indenture Trustee and the Administrative
Agent promptly, in writing, upon the discovery of any breach of its representations, warranties or covenants hereunder. Unless such breach shall have been cured or waived within thirty (30) days after the earlier to occur of the discovery of
such breach by Advance Purchaser or receipt of written notice of such breach by Advance Purchaser, such that, in the case of a representation and warranty, such representation and warranty shall be true and correct in all material respects as if
made on such day, and Advance Purchaser shall have delivered to the Indenture Trustee an officer’s certificate describing the nature of such breach and the manner in which the relevant representation and warranty became true and correct or the
breach was otherwise cured, Advance Purchaser shall indemnify its assignees (including the Depositor, the Issuer, the Indenture Trustee and each of their respective assignees), against and hold its assignees (including the Depositor, the Issuer, the
Indenture Trustee and each of their respective assignees) harmless from any cost, liability and expense, including, without limitation, reasonable attorneys’ fees and expenses, whether incurred in enforcement proceedings between the parties or
otherwise, incurred as a result of, or arising from, such breach, the amount of which shall equal the Receivables Balance of any affected Receivable and each such purchase or indemnification amount to be paid hereunder, an “Indemnity
Payment”. This Section 5(d) sets forth the exclusive remedy for a breach of representation, warranty or covenant by Advance Purchaser pertaining to a Receivable. Notwithstanding the foregoing, the breach of any
representation, warranty or covenant shall not be waived by the Issuer under any circumstances without the consent of the Majority Holders of all Outstanding Notes. 

Section 6. Termination. 

This Agreement (a) may not be terminated prior to the termination of the Indenture and (b) may be terminated at any time thereafter
by either party hereto upon written notice to the other parties. 
 Section 7. General Covenants of Nationstar, as
Initial Receivables Seller (for certain Designated Servicing Agreements prior to the final MSR Transfer Date) and Servicer (for certain Designated Servicing Agreements prior to the final MSR Transfer Date). 

Nationstar covenants and agrees that, from the date of this Agreement until the final MSR Transfer Date has occurred with respect to all
Designated Servicing Agreements: 
 (a) Reserved. 

  
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 (b) Bankruptcy. Nationstar agrees that it shall comply with Section 14(j).
Nationstar has not engaged in and does not expect to engage in a business for which its remaining property represents an unreasonably small capitalization. Nationstar will not transfer any of the Nationstar Receivables with an intent to hinder,
delay or defraud any Person. 
 (c) Legal Existence. Nationstar shall do or cause to be done all things necessary on its part to
preserve and keep in full force and effect its existence in the jurisdiction of its formation, and to maintain each of its licenses, approvals, registrations and qualifications in all jurisdictions in which its ownership or lease of property or the
conduct of its business requires such licenses, approvals, registrations or qualifications, except for failures to maintain any such licenses, approvals, registrations or qualifications which cannot be subsequently cured for the purpose of enforcing
contracts and which, individually or in the aggregate, would not reasonably be expected to have a material adverse effect on the financial conditions, operations or the ability of Nationstar to perform its obligations hereunder or under any of the
other Transaction Documents to which it is a party. 
 (d) Compliance With Laws. Nationstar shall comply in all material respects
with all laws, rules, regulations and orders of any governmental authority applicable to its operation, the noncompliance with which would reasonably be expected to have a material adverse effect on the financial condition, operations or the ability
of Nationstar to perform their obligations hereunder or under any of the other Transaction Documents to which it is a party. 
 (e)
Taxes. Nationstar shall pay and discharge all taxes, assessments and governmental charges or levies imposed upon it or upon its income and profits, or upon any of its property or any part thereof, before the same shall become in default;
provided that Nationstar shall not be required to pay and discharge any such tax, assessment, charge or levy so long as the validity or amount thereof shall be contested in good faith by appropriate proceedings, or so long as the failure to
pay any such tax, assessment, charge or levy would not have a material adverse effect on the ability of Nationstar to perform its obligations hereunder. Nationstar shall have set aside on its books adequate reserves with respect to any such tax,
assessment, charge or levy so contested. 
 (f) Compliance with Representations and Warranties. Nationstar covenants that it shall
conduct its business such that it will continually comply with all of its representations and warranties made in Section 4(a) and in the Purchase Agreement. 

(g) Amendments to Designated Servicing Agreements. Nationstar hereby covenants and agrees not to expressly consent to any amendment to
the Designated Servicing Agreements except for such amendments that would have no adverse effect upon the collectability or timing of payment of any of the Nationstar Additional Receivables or the performance of Nationstar’s obligations under
the Transaction Documents or otherwise adversely affect the interest of the Noteholders, any Supplement Credit Enhancement Provider or any Liquidity Provider, without the prior written consent of the Administrative Agent, the Majority Holders of the
Outstanding Notes of each Series and of each Supplemental Credit Enhancement Provider. Nationstar will, within five (5) Business Days following the effectiveness of such amendments, deliver to the Indenture Trustee copies of all such
amendments. 

  
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 (h) Reserved. 

(i) Keeping of Records and Books of Account. Nationstar shall maintain accurate, complete and correct documents, books, records and
other information which is reasonably necessary for the collection of all Nationstar Additional Receivables (including, without limitation, records adequate to permit the prompt identification of each new Receivable and all collections of, and
adjustments to, each existing Receivable). 
 (j) Fidelity Bond and Errors and Omissions Insurance. Nationstar, as servicer, shall
obtain and maintain at its own expense and keep in full force and effect so long as it is servicing the mortgage loans related to the Receivables, a blanket fidelity bond and an errors and omissions insurance policy with one or more insurers
covering its officers and employees and other persons acting on its behalf in connection with its activities under the Transaction Documents meeting the criteria required by the Designated Servicing Agreements. Coverage of Nationstar, as servicer or
subservicer under a policy or bond obtained by an Affiliate of Nationstar and providing the coverage required by this subsection (j) shall satisfy the requirements of this subsection (j). Nationstar will promptly report in writing
to Advance Purchaser any material changes that may occur in its fidelity bonds, if any, and/or its errors and omissions insurance policies, as the case may be, and will furnish to Advance Purchaser copies of all binders and polices or certificates
evidencing that such bonds, if any, and insurance policies are in full force and effect. 
 (k) No Adverse Claims, Etc. Against
Receivables and Trust Property. Nationstar hereby covenants that, except for the transfer under the Purchase Agreement, the transfer hereunder and as of any date on which Nationstar Additional Receivables are transferred, it will not sell,
pledge, assign or transfer to any other Person, or grant, create, incur or assume any Adverse Claim on any of the Nationstar Additional Receivables, or any interest therein (other than Permitted Liens). Nationstar shall notify Advance Purchaser and
its designees of the existence of any Adverse Claim (other than as provided above) on any Receivable immediately upon discovery thereof; and Nationstar shall defend the right, title and interest of Advance Purchaser and its assignees in, to and
under the Receivables against all claims of third parties claiming through or under it; provided, however, that nothing in this Section 7 shall be deemed to apply to any Adverse Claims for municipal or other local taxes and
other governmental charges if such taxes or governmental charges shall not at the time be due and payable or if Nationstar shall currently be contesting the validity thereof in good faith by appropriate Proceedings. In addition, Nationstar shall
take all actions as may be necessary to ensure that, if this Agreement were deemed to create, or does create, a security interest in the Receivables and the other Nationstar Transferred Assets, such security interest would be a perfected security
interest of first priority under applicable law and will be maintained as such until the Receivables Sale Termination Date. 
 (l) Taking
of Necessary Actions. Nationstar shall perform all actions necessary to sell and/or contribute, assign, transfer and convey the Nationstar Additional Receivables to Advance Purchaser and its assigns, including the Issuer, including, without
limitation, any necessary notifications to the MBS Trustees or other parties. 

  
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 (m) Ownership. Nationstar will take all necessary action to establish and maintain,
irrevocably in Advance Purchaser, legal and equitable title to the Nationstar Additional Receivables and the related Nationstar Transferred Assets, free and clear of any Adverse Claim other than Permitted Liens. 

(n) [RESERVED]. 
 (o)
Name Change, Offices and Records. In the event Nationstar makes any change to its name (within the meaning of Section 9-507(c) of any applicable enactment of the UCC), type or jurisdiction of organization or location of its books and
records, it shall notify Advance Purchaser, the Depositor, the Issuer and the Indenture Trustee thereof and (except with respect to a change of location of books and records) shall deliver to Advance Purchaser, the Depositor, the Issuer and the
Indenture Trustee not later than thirty (30) days after the effectiveness of such change (i) if Advance Purchaser, the Depositor, the Issuer or the Indenture Trustee shall so request, an opinion of outside counsel to Nationstar, in form
and substance reasonably satisfactory to Advance Purchaser, the Depositor, the Issuer and the Indenture Trustee, as to the grant or assignment from Nationstar to Advance Purchaser of a security interest in the Nationstar Additional Receivables, if
the transfers thereof by Nationstar to Advance Purchaser are determined not to be true sales, and as to the perfection and priority of Advance Purchaser’s security interest in the Nationstar Additional Receivables in such event, and
(ii) such other documents and instruments that Advance Purchaser, the Depositor, the Issuer or the Indenture Trustee may reasonably request in connection therewith and shall take all other steps to ensure that Advance Purchaser continues to
have a first priority, perfected security interest in the Nationstar Additional Receivables and the related Nationstar Transferred Assets. 

(p) Location of Jurisdiction of Organization and Records. In the case of a change in the jurisdiction of organization of Nationstar or
in the case of a change in the “location” of Nationstar for purposes of Section 9-307 of the UCC, Nationstar must take all actions necessary or reasonably requested by Advance Purchaser to amend its existing financing statements and
continuation statements, and file additional financing statements and to take any other steps reasonably requested by Advance Purchaser to further perfect or evidence the rights, claims or security interests of any of Nationstar or any assignee or
beneficiary of Advance Purchaser’s rights under this Agreement. 
 (q) Servicing Policies. Nationstar shall provide notice to
Advance Purchaser and the Administrative Agent fifteen (15) days prior to the effectiveness of any material changes to Nationstar’s policies or procedures relating to property valuation or stop advance modeling. 

(r) Amendments to the Purchase Agreement. Nationstar, hereby covenants and agrees not to amend the Purchase Agreement in any way that
relates to the sale, assignment, transfer and conveyance of Nationstar Transferred Assets hereunder, without the prior written consent of the Administrative Agent. 

  
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 Section 8. General Covenants of Advance Purchaser, as Receivables Seller and Servicer
(on and after the respective MSR Transfer Dates). 
 Advance Purchaser covenants and agrees that, from the date of this Agreement
until the termination of the Indenture: 
 (a) Reserved. 

(b) Bankruptcy. Advance Purchaser agrees that it shall comply with Section 14(j). Advance Purchaser has not engaged in and
does not expect to engage in a business for which its remaining property represents an unreasonably small capitalization. Advance Purchaser will not transfer any of the Aggregate Receivables with an intent to hinder, delay or defraud any Person.

 (c) Legal Existence. Advance Purchaser shall do or cause to be done all things necessary on its part to preserve and keep in full
force and effect its existence in the jurisdiction of its formation, and to maintain each of its licenses, approvals, registrations and qualifications in all jurisdictions in which its ownership or lease of property or the conduct of its business
requires such licenses, approvals, registrations or qualifications, except for failures to maintain any such licenses, approvals, registrations or qualifications which cannot be subsequently cured for the purpose of enforcing contracts and which,
individually or in the aggregate, would not reasonably be expected to have a material adverse effect on the financial conditions, operations or the ability of Advance Purchaser, the Depositor or the Issuer to perform its obligations hereunder or
under any of the other Transaction Documents. 
 (d) Compliance With Laws. Advance Purchaser shall comply in all material respects
with all laws, rules, regulations and orders of any governmental authority applicable to its operation, the noncompliance with which would reasonably be expected to have a material adverse effect on the financial condition, operations or the ability
of Advance Purchaser, the Depositor or the Issuer to perform their obligations hereunder or under any of the other Transaction Documents. 

(e) Taxes. Advance Purchaser shall pay and discharge all taxes, assessments and governmental charges or levies imposed upon it or upon
its income and profits, or upon any of its property or any part thereof, before the same shall become in default; provided that Advance Purchaser shall not be required to pay and discharge any such tax, assessment, charge or levy so long as
the validity or amount thereof shall be contested in good faith by appropriate proceedings, or so long as the failure to pay any such tax, assessment, charge or levy would not have a material adverse effect on the ability of Advance Purchaser to
perform its obligations hereunder. Advance Purchaser shall have set aside on its books adequate reserves with respect to any such tax, assessment, charge or levy so contested. 

(f) Compliance with Representations and Warranties. Advance Purchaser covenants that it shall conduct its business such that it will
continually comply with all of its representations and warranties made in Section 5(a). 

  
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 (g) Amendments to Designated Servicing Agreements. Advance Purchaser hereby covenants and
agrees not to expressly consent to any amendment to the Designated Servicing Agreements except for such amendments that would have no adverse effect upon the collectability or timing of payment of any of the Aggregate Receivables or the performance
of Advance Purchaser’s, the Depositor’s or the Issuer’s obligations under the Transaction Documents or otherwise adversely affect the interest of the Noteholders, any Supplement Credit Enhancement Provider or any Liquidity Provider,
without the prior written consent of the Administrative Agent, the Majority Holders of the Outstanding Notes of each Series and of each Supplemental Credit Enhancement Provider. Advance Purchaser will, within five (5) Business Days following
the effectiveness of such amendments, deliver to the Indenture Trustee copies of all such amendments. 
 (h) Maintenance of Security
Interest. Advance Purchaser shall from time to time, at its own expense, execute and file such additional financing statements (including continuation statements) as may be necessary to ensure that at any time the interest of the Depositor, the
Issuer, the Indenture Trustee and the Noteholders and any Supplemental Credit Enhancement Provider and any Liquidity Provider in all of the Aggregate Receivables is fully protected in accordance with the UCC. 

(i) Keeping of Records and Books of Account. Advance Purchaser shall maintain accurate, complete and correct documents, books, records
and other information which is reasonably necessary for the collection of all Aggregate Receivables (including, without limitation, records adequate to permit the prompt identification of each new Receivable and all collections of, and adjustments
to, each existing Receivable). 
 (j) Fidelity Bond and Errors and Omissions Insurance. Advance Purchaser shall cause the Servicer or
the Subservicer shall obtain and maintain at its own expense and keep in full force and effect so long as it is servicing the mortgage loans related to the Receivables, a blanket fidelity bond and an errors and omissions insurance policy with one or
more insurers covering its officers and employees and other persons acting on its behalf in connection with its activities under the Transaction Documents meeting the criteria required by the Designated Servicing Agreements. In the case of
Nationstar as Servicer or the Subservicer, coverage of Nationstar, as servicer or subservicer under a policy or bond obtained by an Affiliate of Nationstar and providing the coverage required by this subsection (j) shall satisfy the
requirements of this subsection (j). Advance Purchaser shall cause the Servicer or the Subservicer to promptly report in writing to the Depositor any material changes that may occur in its fidelity bonds, if any, and/or its errors and
omissions insurance policies, as the case may be, and cause Nationstar to furnish to the Depositor copies of all binders and polices or certificates evidencing that such bonds, if any, and insurance policies are in full force and effect. 

(k) No Adverse Claims, Etc. Against Receivables and Trust Property. Advance Purchaser hereby covenants that, except for the transfer
hereunder and as of any date on which Additional Receivables are transferred, it will not sell, pledge, assign or transfer to any other Person, or grant, create, incur or assume any Adverse Claim on any of the Aggregate Receivables, or any interest
therein (other than Permitted Liens). Advance Purchaser shall notify the Depositor and its designees of the existence of any Adverse Claim (other than as provided above) on any Receivable immediately upon discovery thereof; and Advance Purchaser
shall 

  
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defend the right, title and interest of the Depositor and its assignees in, to and under the Receivables against all claims of third parties claiming through or under it; provided,
however, that nothing in this Section 8 shall be deemed to apply to any Adverse Claims for municipal or other local taxes and other governmental charges if such taxes or governmental charges shall not at the time be due and
payable or if Advance Purchaser shall currently be contesting the validity thereof in good faith by appropriate Proceedings. In addition, Advance Purchaser shall take all actions as may be necessary to ensure that, if this Agreement were deemed to
create, or does create, a security interest in the Receivables and the other Transferred Assets, such security interest would be a perfected security interest of first priority under applicable law and will be maintained as such until the
Receivables Sale Termination Date. 
 (l) Taking of Necessary Actions. Advance Purchaser shall perform all actions necessary to sell
and/or contribute, assign, transfer and convey the Aggregate Receivables to the Depositor and its assigns, including the Issuer, including, without limitation, any necessary notifications to the MBS Trustees or other parties. 

(m) Ownership. Advance Purchaser will take all necessary action to establish and maintain, irrevocably in the Depositor, legal and
equitable title to the Aggregate Receivables and the related Transferred Assets, free and clear of any Adverse Claim (including, without limitation, the filing of all financing statements or other similar instruments or documents necessary under the
UCC (or any comparable law) in all appropriate jurisdictions to perfect the Depositor’s interest in such Aggregate Receivables and related Transferred Assets and such other action to perfect, protect or more fully evidence the interest of the
Depositor or the Indenture Trustee (as the Depositor’s assignee) may reasonably request) other than Permitted Liens. 
 (n)
Depositors’ Reliance. Advance Purchaser acknowledges that the Indenture Trustee and the Noteholders are entering into the transactions contemplated by the Transaction Documents in reliance upon the Depositor’s and Issuer’s
identity as a legal entity that is separate from it. Therefore, from and after the date of execution and delivery of this Agreement, Advance Purchaser will take all reasonable steps to maintain each of the Depositor’s and Issuer’s identity
as a separate legal entity and to make it manifest to third parties that each of the Depositor and the Issuer is an entity with assets and liabilities distinct from those of Advance Purchaser. Without limiting the generality of the foregoing and in
addition to the other covenants set forth herein, Advance Purchaser (i) will not hold itself out to third parties as liable for the debts of either the Depositor or the Issuer nor purport to own the Aggregate Receivables and other related
Transferred Assets, (ii) will take all other actions necessary on its part to ensure that the facts and assumptions regarding it set forth in the opinion issued by Bingham McCutchen LLP, dated the Closing Date, relating to certain bankruptcy
issues remain true and correct at all times. 
 (o) Name Change, Offices and Records. In the event Advance Purchaser makes any change
to its name (within the meaning of Section 9-507(c) of any applicable enactment of the UCC), type or jurisdiction of organization or location of its books and records, it shall notify the Depositor and the Indenture Trustee thereof and (except
with respect to a change of location of books and records) shall deliver to the Indenture Trustee not later than thirty (30) days after the effectiveness of such change (i) such financing statements (Forms UCC1 and UCC3) which the
Indenture Trustee (acting at the direction of the Administrative Agent) may reasonably request to 

  
 -34- 

 
reflect such name change, or change in type or jurisdiction of organization, (ii) if the Indenture Trustee shall so request, an opinion of outside counsel to Advance Purchaser, in form and
substance reasonably satisfactory to the Indenture Trustee, as to the grant or assignment from the Receivables Seller to the Depositor of a security interest in the Aggregate Receivables, if the transfers thereof by Advance Purchaser to the
Depositor are determined not to be true sales, and as to the perfection and priority of the Depositor’s security interest in the Aggregate Receivables in such event, and (iii) such other documents and instruments that the Indenture Trustee
(acting at the direction of the Administrative Agent) may reasonably request in connection therewith and shall take all other steps to ensure that the Depositor continues to have a first priority, perfected security interest in the Aggregate
Receivables and the related Transferred Assets. 
 (p) Location of Jurisdiction of Organization and Records. In the case of a change
in the jurisdiction of organization of Advance Purchaser or in the case of a change in the “location” of Advance Purchaser for purposes of Section 9-307 of the UCC, Advance Purchaser must take all actions necessary or reasonably
requested by the Depositor, the Issuer, the Administrative Agent or the Indenture Trustee to amend its existing financing statements and continuation statements, and file additional financing statements and to take any other steps reasonably
requested by the Depositor, the Issuer, the Administrative Agent or the Indenture Trustee to further perfect or evidence the rights, claims or security interests of any of Advance Purchaser, the Depositor, the Issuer or any assignee or beneficiary
of the Issuer’s rights under this Agreement, including the Indenture Trustee on behalf of the Noteholders under any of the Transaction Documents. 

(q) Servicing Policies. Advance Purchaser shall cause the Servicer or the Subservicer to provide notice to the Administrative Agent
fifteen (15) days prior to the effectiveness of any material changes to Nationstar’s policies or procedures relating to property valuation or stop advance modeling. 

(r) Amendments to the Purchase Agreement. Advance Purchaser hereby covenants and agrees not to amend the Purchase Agreement in any way
that relates to the sale and/or contribution, assignment, transfer and conveyance of Transferred Assets hereunder, without the prior written consent of the Administrative Agent. 

Section 9. Grant Clause. 

(a) It was intended that the conveyances by Nationstar of Nationstar’s right, title and interest in, to and under the Initial Receivables
and of the Original Transferred Assets to the Depositor pursuant to this Agreement constituted, and shall be construed as, sales and not as grants of security interests to secure one or more loans. Further, it is intended that the conveyances by
Nationstar on and after the Effective Date of Nationstar’s right, title and interest in, to and under the Nationstar Additional Advance Receivables and of the Nationstar Advance Receivable Transferred Assets to Advance Purchaser pursuant to
this Agreement shall constitute, and shall be construed as, sales and not as grants of security interests to secure one or more loans. However, if any of such conveyances are deemed to be in respect of a loan, it is intended that: (a) the
rights and obligations of the parties shall be established pursuant to the terms of this Agreement; (b) Nationstar has granted to the Depositor a first priority security interest in all of its right, title and interest in, to and under the
Initial Receivables and Original Transferred Assets 

  
 -35- 

 
conveyed hereunder prior to the Effective Date to secure a debt equal to the purchase price paid for such Initial Receivables and Original Transferred Assets, and (c) Nationstar hereby
grants to Advance Purchaser a first priority security interest in all of its right, title and interest in, to and under, whether now owned or hereafter acquired, such Nationstar Additional Advance Receivables and the Nationstar Advance Receivable
Transferred Assets to secure payment of a debt equal to the purchase price paid for such Nationstar Additional Advance Receivables and the Nationstar Advance Receivable Transferred Assets; and (d) this Agreement shall constitute a security
agreement under applicable law. Nationstar will, to the extent consistent with this Agreement, take such reasonable actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in such the Initial
Receivables and the Nationstar Additional Advance Receivables and the Original Transferred Assets and the Nationstar Advance Receivable Transferred Assets, such security interest would be a perfected security interest of first priority under
applicable law and will be maintained as such throughout the term of this Agreement. Nationstar will, at its own expense, make all initial filings on or about the Effective Date. 

(b) It is the intention of the parties hereto that each transfer and assignment contemplated by this Agreement shall constitute an absolute
sale or contribution, as applicable, of the related Aggregate Receivables from Advance Purchaser to the Depositor and that the Receivables shall not be part of Advance Purchaser’s estate or otherwise be considered property of Advance Purchaser
in the event of the bankruptcy, receivership, insolvency, liquidation, conservatorship or similar proceeding relating to Advance Purchaser or any of its property. However, if such conveyance is deemed to be in respect of a loan, it is intended that:
(a) the rights and obligations of the parties shall be established pursuant to the terms of this Agreement; (b) Advance Purchaser hereby grants to the Depositor a first priority security interest in all of its right, title and interest in,
to and under, whether now owned or hereafter acquired, the Aggregate Receivables and the other Transferred Assets to secure payment of such loan; and (c) this Agreement shall constitute a security agreement under applicable law. Advance
Purchaser will, to the extent consistent with this Agreement, take such reasonable actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in the Aggregate Receivables and the other Transferred Assets
to secure payment or performance of an obligation, such security interest would be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of this Agreement. Advance Purchaser will, at
its own expense, make all initial filings on or about the Effective Date, and shall forward a copy of such filing or filings to the Indenture Trustee. 

Each of Nationstar and Advance Purchaser and their respective assignees, successors and designees hereby authorizes the Depositor and its
assignees, successors and designees to file one or more UCC financing statements, financing statement amendments and continuation statements to perfect the security interests described herein and to maintain the perfection of the such security
interests. 
 Section 10. Conveyance by Depositor; Grant by Issuer. 

Each of the Depositor and the Issuer shall have the right, upon notice to but without the consent of Advance Purchaser, to Grant, in whole or
in part, its interest under this Agreement with respect to the Receivables to the Issuer and to the Indenture Trustee, respectively, and the 

  
 -36- 

 
Indenture Trustee then shall succeed to all rights of the Depositor under this Agreement. All references to the Depositor in this Agreement shall be deemed to include its assignee or designee,
specifically including the Issuer and the Indenture Trustee. 
 Section 11. Protection of Indenture Trustee’s Security
Interest in Trust Estate. 
 (a) Advance Purchaser shall maintain accounts and records as to each Receivable accurately and in
sufficient detail to permit the reader thereof to know at any time following reasonable prior notice delivered to it, the status of such Receivable, including payments and recoveries made and payments owing. The Schedule of Receivables has been
delivered to the Indenture Trustee and shall remain in its possession or control. 
 (b) Advance Purchaser will maintain its computer
records so that, from and after the Grant of the security interest under the Indenture, Advance Purchaser’s master computer records (including any back-up archives) that refer to any Receivables indicate that the Receivables are owned by the
Issuer and pledged to the Indenture Trustee on behalf of the Noteholders. Indication of the Indenture Trustee’s interest in a Receivable shall be deleted from or modified on Advance Purchaser’s records when, and only when, the Receivable
has been paid in full or released from the lien of the Indenture pursuant to the Indenture. 
 Section 12. Indemnification by
Nationstar. 
 (a) Without limiting any other rights that a Nationstar Indemnified Party may have hereunder or under applicable law,
Nationstar agrees to indemnify each Nationstar Indemnified Party from and against any and all Nationstar Indemnification Amounts which may be imposed on, incurred by or asserted against a Nationstar Indemnified Party in any way arising out of or
relating to any breach of Nationstar’s obligations under this Agreement or Nationstar’s ownership of the Initial Receivables or the Nationstar Additional Receivables, excluding, however, Nationstar Indemnification Amounts to the extent
resulting from (1) the negligence or willful misconduct on the part of such Nationstar Indemnified Party or (2) the failure of a particular Mortgage Pool to generate sufficient cash flow to pay the Receivables attributable to that Mortgage
Pool. 
 (b) Without limiting or being limited by the foregoing, Nationstar shall pay on demand to each Nationstar Indemnified Party any and
all amounts necessary to indemnify such Nationstar Indemnified Party from and against any and all Nationstar Indemnification Amounts relating to or resulting from: 

(i) reliance on any representation or warranty made by Nationstar under or in connection with this Agreement, any other
Transaction Document, any report or any other information delivered by it pursuant hereto, which shall have been incorrect in any material respect when made or deemed made or delivered; 

(ii) the failure by Nationstar to comply with any term, provision or covenant contained in this Agreement, or any agreement
executed by it in connection with this Agreement or any other Transaction Document or with any applicable law, rule or regulation with respect to any Receivable, or the nonconformity of any Receivable with any such applicable law, rule or
regulation; or 

  
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 (iii) the failure of this Agreement to vest and maintain vested in Advance
Purchaser, or to transfer, to Advance Purchaser, legal and equitable title to and ownership of the Nationstar Additional Receivables which are, or are purported to be, Receivables, together with all collections in respect thereof, free and clear of
any adverse claim (except as permitted hereunder) whether existing at the time of the transfer of such Receivable or at any time thereafter. 

(c) Any Nationstar Indemnification Amounts subject to the indemnification provisions of this Section 12 shall be paid to
the Nationstar Indemnified Party within five (5) Business Days following demand therefor. “Nationstar Indemnified Party” means any of Advance Purchaser, the Depositor, the Issuer and the Indenture Trustee.
“Nationstar Indemnification Amounts” means any and all claims, losses, liabilities, obligations, damages, penalties, actions, judgments, suits, and related reasonable costs and reasonable expenses of any nature whatsoever,
including reasonable attorneys’ fees and disbursements, incurred by a Nationstar Indemnified Party with respect to this Agreement as a result of a breach by Nationstar, as described in Section 12(a), including without limitation,
the enforcement hereof. 
 (d) (i) Promptly after a Nationstar Indemnified Party shall have been served with the summons or other
first legal process or shall have received written notice of the threat of a claim in respect of which an indemnity may be claimed against Nationstar under this Section 12, the Nationstar Indemnified Party shall notify Nationstar in
writing of the service of such summons, other legal process or written notice, giving information therein as to the nature and basis of the claim, but failure so to notify Nationstar shall not relieve Nationstar from any liability which it may have
hereunder or otherwise except to the extent that Nationstar is prejudiced by such failure so to notify Nationstar. 
 (ii)
Nationstar will be entitled, at its own expense, to participate in the defense of any such claim or action and, to the extent that it may wish, to assume the defense thereof, with counsel reasonably satisfactory to such Nationstar Indemnified Party,
and, after notice from Nationstar to such Nationstar Indemnified Party that Nationstar wishes to assume the defense of any such action, Nationstar will not be liable to such Nationstar Indemnified Party under this Section 12 for any
legal or other expenses subsequently incurred by such Nationstar Indemnified Party in connection with the defense of any such action unless, (A) the defendants in any such action include both the Nationstar Indemnified Party and Nationstar, and
the Nationstar Indemnified Party (upon the advice of counsel) shall have reasonably concluded that there may be legal defenses available to it that are different from or additional to those available to Nationstar, or one or more Nationstar
Indemnified Parties, and which in the reasonable judgment of such counsel are sufficient to create a conflict of interest for the same counsel to represent both Nationstar and such Nationstar Indemnified Party, (B) Nationstar shall not have
employed counsel reasonably satisfactory to the Nationstar Indemnified Party to represent the Nationstar Indemnified Party within a reasonable time after notice of commencement of the action, or (C) Nationstar shall have authorized the
employment of counsel for the Nationstar Indemnified Party at Nationstar’s expense; then, in any such event, such Nationstar Indemnified Party shall have the right to employ its own counsel in such action, and the reasonable fees and expenses
of such counsel shall be borne by Nationstar; provided, however, that Nationstar shall not in connection with any such action or separate but 

  
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substantially similar or related actions arising out of the same general allegations or circumstances, be liable for any fees and expenses of more than one firm of attorneys at any time for all
Nationstar Indemnified Parties. Each Nationstar Indemnified Party, as a condition of the indemnity agreement contained herein, shall use its commercially reasonable efforts to cooperate with Nationstar in the defense of any such action or claim.

 (iii) Nationstar shall not, without the prior written consent of any Nationstar Indemnified Party, effect any settlement
of any pending or threatened proceeding in respect of which such Nationstar Indemnified Party is or could have been a party and indemnity could have been sought hereunder by such Nationstar Indemnified Party, unless such settlement includes an
unconditional release of such Nationstar Indemnified Party from all liability on claims that are the subject matter of such proceeding or threatened proceeding. 

Section 13. Indemnification by Advance Purchaser. 

(a) Without limiting any other rights that an Indemnified Party may have hereunder or under applicable law, Advance Purchaser agrees to
indemnify each Indemnified Party from and against any and all Indemnification Amounts which may be imposed on, incurred by or asserted against an Indemnified Party in any way arising out of or relating to any breach of Advance Purchaser’s
obligations under this Agreement or the ownership of the Aggregate Receivables or in respect of any Receivable, excluding, however, Indemnification Amounts to the extent resulting from (1) the negligence or willful misconduct on the part of
such Indemnified Party or (2) the failure of a particular Mortgage Pool to generate sufficient cash flow to pay the Receivables attributable to that Mortgage Pool. 

(b) Without limiting or being limited by the foregoing, Advance Purchaser shall pay on demand to each Indemnified Party any and all amounts
necessary to indemnify such Indemnified Party from and against any and all Indemnification Amounts relating to or resulting from: 

(i) reliance on any representation or warranty made by Advance Purchaser under or in connection with this Agreement, any other
Transaction Document, any report or any other information delivered by it pursuant hereto, which shall have been incorrect in any material respect when made or deemed made or delivered; 

(ii) the failure by Advance Purchaser to comply with any term, provision or covenant contained in this Agreement, or any
agreement executed by it in connection with this Agreement or any other Transaction Document or with any applicable law, rule or regulation with respect to any Receivable, or the nonconformity of any Receivable with any such applicable law, rule or
regulation; or 
 (iii) the failure of this Agreement to vest and maintain vested in the Depositor, or to transfer, to the
Depositor, legal and equitable title to and ownership of the Aggregate Receivables which are, or are purported to be, Receivables, together with all collections in respect thereof, free and clear of any adverse claim (except as permitted hereunder)
whether existing at the time of the transfer of such Receivable or at any time thereafter. 

  
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 (c) Any Indemnification Amounts subject to the indemnification provisions of this
Section 13 shall be paid to the Indemnified Party within five (5) Business Days following demand therefor. “Indemnified Party” means any of the Depositor, the Issuer and the Indenture Trustee.
“Indemnification Amounts” means any and all claims, losses, liabilities, obligations, damages, penalties, actions, judgments, suits, and related reasonable costs and reasonable expenses of any nature whatsoever, including
reasonable attorneys’ fees and disbursements, incurred by an Indemnified Party with respect to this Agreement as a result of a breach by Advance Purchaser, as described in Section 13(a), including without limitation, the enforcement
hereof. 
 (d) (i) Promptly after an Indemnified Party shall have been served with the summons or other first legal process or shall
have received written notice of the threat of a claim in respect of which an indemnity may be claimed against Advance Purchaser under this Section 13, the Indemnified Party shall notify Advance Purchaser in writing of the service of such
summons, other legal process or written notice, giving information therein as to the nature and basis of the claim, but failure so to notify Advance Purchaser shall not relieve Advance Purchaser from any liability which it may have hereunder or
otherwise except to the extent that Advance Purchaser is prejudiced by such failure so to notify Advance Purchaser. 
 (ii)
Advance Purchaser will be entitled, at its own expense, to participate in the defense of any such claim or action and, to the extent that it may wish, to assume the defense thereof, with counsel reasonably satisfactory to such Indemnified Party,
and, after notice from Advance Purchaser to such Indemnified Party that Advance Purchaser wishes to assume the defense of any such action, Advance Purchaser will not be liable to such Indemnified Party under this Section 13 for any legal
or other expenses subsequently incurred by such Indemnified Party in connection with the defense of any such action unless, (A) the defendants in any such action include both the Indemnified Party and Advance Purchaser, and the Indemnified
Party (upon the advice of counsel) shall have reasonably concluded that there may be legal defenses available to it that are different from or additional to those available to Advance Purchaser, or one or more Indemnified Parties, and which in the
reasonable judgment of such counsel are sufficient to create a conflict of interest for the same counsel to represent both Advance Purchaser and such Indemnified Party, (B) Advance Purchaser shall not have employed counsel reasonably
satisfactory to the Indemnified Party to represent the Indemnified Party within a reasonable time after notice of commencement of the action, or (C) Advance Purchaser shall have authorized the employment of counsel for the Indemnified Party at
Advance Purchaser’s expense; then, in any such event, such Indemnified Party shall have the right to employ its own counsel in such action, and the reasonable fees and expenses of such counsel shall be borne by Advance Purchaser;
provided, however, that Advance Purchaser shall not in connection with any such action or separate but substantially similar or related actions arising out of the same general allegations or circumstances, be liable for any fees and
expenses of more than one firm of attorneys at any time for all Indemnified Parties. Each Indemnified Party, as a condition of the indemnity agreement contained herein, shall use its commercially reasonable efforts to cooperate with Advance
Purchaser in the defense of any such action or claim. 

  
 -40- 

 (iii) Advance Purchaser shall not, without the prior written consent of any
Indemnified Party, effect any settlement of any pending or threatened proceeding in respect of which such Indemnified Party is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party, unless such
settlement includes an unconditional release of such Indemnified Party from all liability on claims that are the subject matter of such proceeding or threatened proceeding. 

Section 14. Miscellaneous. 

(a) Amendment. This Agreement may not be amended except by an instrument in writing signed by Nationstar (prior to the final MSR
Transfer Date), Advance Purchaser and the Depositor upon delivery of an Issuer Tax Opinion and with the written consent of the Administrative Agent. In addition, so long as the Notes are outstanding, this Agreement may not be amended unless either
(x) the Noteholders of more than the Series Required Noteholders of each Series shall have consented thereto or (y) (i) the amendment is for a purpose for which the Indenture could be amended without any Noteholder consent and
(ii) Advance Purchaser shall have delivered to the Indenture Trustee an officer’s certificate to the effect that Advance Purchaser reasonably believes that any such amendment will not have a material Adverse Effect on the Holders of the
Notes. Any such amendment requested by Advance Purchaser shall be at its own expense. Advance Purchaser shall promptly notify each Note Rating Agency of any amendment of this Agreement or of the Receivables Pooling Agreement, and shall furnish a
copy of any such amendment to each such Note Rating Agency. 
 (b) Binding Nature; Assignment. The covenants, agreements, rights and
obligations contained in this Agreement shall be binding upon the successors and assigns of Nationstar and Advance Purchaser and shall inure to the benefit of the successors and assigns of Advance Purchaser and the Depositor, and all persons
claiming by, through or under Advance Purchaser or the Depositor. 
 (c) Entire Agreement. This Agreement contains the entire
agreement and understanding among the parties hereto with respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements, understandings, inducements and conditions, express or implied, oral or written, of any nature
whatsoever with respect to the subject matter hereof. The express terms hereof control and supersede any course of performance and/or usage of the trade inconsistent with any of the terms hereof. 

(d) Severability of Provisions. Any provision of this Agreement which is prohibited, unenforceable or not authorized in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition, unenforceability or non-authorization without invalidating the remaining provisions hereof or affecting the
validity, enforceability or legality of such provision in any other jurisdiction. 
 (e) Governing Law. THIS AGREEMENT AND ANY
CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO OR IN 

  
 -41- 

 
CONNECTION WITH THIS AGREEMENT, THE RELATIONSHIP OF THE PARTIES HERETO, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES HERETO SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

(f) Counterparts. This Agreement may be executed in several counterparts and all so executed shall constitute one agreement binding on
all parties hereto, notwithstanding that all the parties have not signed the original or the same counterpart. Any counterpart hereof signed by a party against whom enforcement of this Agreement is sought shall be admissible into evidence as an
original hereof to prove the contents thereof. Delivery of an executed counterpart of a signature page to this Agreement by facsimile or other electronic means shall be effective as delivery of a manually executed counterpart of this Agreement. 

(g) Indulgences; No Waivers. Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege
under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or future exercise of the same or of any other right, remedy, power or privilege, nor shall
any waiver of any right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver. 

(h) Headings Not to Affect Interpretation. The headings contained in this Agreement are for convenience of reference only, and they
shall not be used in the interpretation hereof. 
 (i) Benefits of Agreement. Nothing in this Agreement, express or implied, shall
give to any Person, other than the parties to this Agreement and their successors hereunder, any benefit of any legal or equitable right, power, remedy or claim under this Agreement. 

(j) No Petition. Each of Nationstar and Advance Purchaser, by entering into this Agreement, agrees that it will not at any time prior
to the date which is one year and one day, or, if longer, the applicable preference period then in effect, after the payment in full of all of the Notes, institute against the Depositor or the Issuer, or join in any institution against the Depositor
or the Issuer of, Insolvency Proceedings or other similar proceedings, or other proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to the Notes or this Agreement, or cause the
Depositor or the Issuer to commence any reorganization, bankruptcy proceedings, or Insolvency Proceedings under any applicable state or federal law, including without limitation any readjustment of debt, or marshaling of assets or liabilities or
similar proceedings. This Section 14(j) shall survive termination of this Agreement. 
 (k) WAIVER OF JURY TRIAL. EACH OF
THE PARTIES HERETO WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN AN LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

  
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 Section 15. Consent and Acknowledgement of the Amendments. 

100% of the Noteholders of the Series 2013-VF1 Variable Funding Notes have consented to this Agreement and each such Noteholder confirms that
(i) it is the sole Noteholder of all the Outstanding Notes related to such Series with the right to instruct the Indenture Trustee, (ii) it is authorized to deliver this Agreement, such power has not been granted or assigned to any other
person and the Indenture Trustee may rely upon such certification, and (iii) it acknowledges and agrees that the amendments effected by this Agreement shall become effective on the Effective Date. 

[Signature Page Follows] 

  
 -43- 

 IN WITNESS WHEREOF, the parties hereto have caused this Receivables Sale Agreement to be duly
executed as of the date first above written. 
  

			
	NATIONSTAR MORTGAGE LLC
		
	By:	 	 /s/ Ellen Coleman

	Name:	 	Ellen Coleman
	Title:	 	Executive Vice President
	
	ADVANCE PURCHASER LLC
		
	By:	 	 /s/ Cameron MacDougall

	Name:	 	Cameron MacDougall
	Title:	 	Secretary
	
	NRZ SERVICER ADVANCE FACILITY TRANSFEROR BC, LLC, as Depositor
		
	By:	 	 /s/ Cameron MacDougall

	Name:	 	Cameron MacDougall
	Title:	 	Secretary

  
 [NRZ Servicer Advance
Receivables Trust BC - Signature Page to Amended and Restated Receivables Sale Agreement] 

 
			
	CONSENTED TO BY:
	
	BARCLAYS BANK PLC, as Committed Purchaser, as Conduit Administrative Agent, and as Administrative Agent of the Series 2013-VF1 Variable Funding Notes
		
	By:	 	 /s/ Joseph O’Doherty

	Name:	 	Joseph O’Doherty
	Title:	 	Managing Director
	
	SHEFFIELD RECEIVABLES CORPORATION, as Conduit Holder
	
	By: Barclays Bank PLC, as attorney-in-fact
		
	By:	 	 /s/ Joseph O’Doherty

	Name:	 	Joseph O’Doherty
	Title:	 	Managing Director

  
 [NRZ Servicer Advance
Receivables Trust BC - Signature Page to Amended and Restated Receivables Sale Agreement] 

 Schedule 1-A 

ASSIGNMENT OF ADVANCE RECEIVABLES 

Dated as of [    ], 2013 

This Assignment of Advance Receivables (this “Assignment”) is a schedule to and is hereby incorporated by this
reference into a certain Amended and Restated Receivables Sale Agreement (the “Agreement”), dated as of December 17, 2013, by and among Nationstar Mortgage LLC, a Delaware limited liability company, as initial
receivables seller (prior to the respective MSR Transfer Dates) and as servicer ((prior to the respective MSR Transfer Dates) (“Nationstar”), Advance Purchaser LLC, a Delaware limited liability company, as receivables seller
and as servicer (on and after the respective MSR Transfer Dates) (“Advance Purchaser”), and NRZ Servicer Advance Facility Transferor BC, LLC, a Delaware limited liability company (the “Depositor”). All
capitalized terms used herein shall have the meanings set forth in, or referred to in, the Agreement. 
 By its signature to this
Assignment, Nationstar hereby sells, assigns, transfers and conveys to Advance Purchaser and its assignees, without recourse, but subject to the terms of the Agreement, all of its right, title and interest in, to and under its rights to
reimbursement of the Nationstar Additional Advance Receivables arising under each Designated Servicing Agreement listed on Attachment A attached hereto, which Nationstar Additional Advance Receivables on the date of this Assignment
together with any Nationstar Advance Receivable Transferred Assets related to such Receivables, pursuant to the terms of the Agreement, and Advance Purchaser hereby accepts such sale, assignment, transfer and conveyance and agrees to transfer to
Nationstar, as receivables seller, the related consideration therefor, as set forth in the Agreement. 
 [Signature page follows] 

 
			
	NATIONSTAR MORTGAGE LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	ADVANCE PURCHASER LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 [NRZ Servicer Advance
Receivables Trust BC - Signature Page to Schedule 1A to Amended and Restated Receivables Sale Agreement - Assignment of Advance Receivables] 

 Attachment A to Schedule 1-A 

DESIGNATED SERVICING AGREEMENTS RELATED TO THE AGGREGATE RECEIVABLES 

 Schedule 1-B 

ASSIGNMENT OF RECEIVABLES 

Dated as of [    ], 2013 

This Assignment of Receivables (this “Assignment”) is a schedule to and is hereby incorporated by this reference into
a certain Amended and Restated Receivables Sale Agreement (the “Agreement”), dated as of December 17, 2013, by and among Nationstar Mortgage LLC, a Delaware limited liability company, as initial receivables seller (prior
to the respective MSR Transfer Dates) and as servicer (prior to the respective MSR Transfer Dates) (“Nationstar”), Advance Purchaser LLC, a Delaware limited liability company, as receivables seller and as servicer (on and
after the respective MSR Transfer Dates) (“Advance Purchaser”), and NRZ Servicer Advance Facility Transferor BC, LLC, a Delaware limited liability company (the “Depositor”). All capitalized terms used herein
shall have the meanings set forth in, or referred to in, the Agreement. 
 By its signature to this Assignment, Advance Purchaser hereby
sells and/or contributes, assigns, transfers and conveys to the Depositor and its assignees, without recourse, but subject to the terms of the Agreement, all of its right, title and interest in, to and under its rights to reimbursement of the
Additional Receivables arising under each Designated Servicing Agreement listed on Attachment A attached hereto, which Additional Receivables on the date of this Assignment together with any Transferred Assets related to such
Receivables, pursuant to the terms of the Agreement, and Depositor hereby accepts such sale, assignment, transfer and conveyance and agrees to transfer to Advance Purchaser, as receivables seller, the related consideration therefor, as set forth in
the Agreement. 
 [Signature page follows] 

 
			
	ADVANCE PURCHASER LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	NRZ SERVICER ADVANCE FACILITY TRANSFEROR BC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 [BC-NSART - Signature
Page to Schedule 1-B to Amended and Restated Receivables Sale Agreement - Assignment of Receivables] 

 Attachment A to Schedule 1-B 

DESIGNATED SERVICING AGREEMENTS RELATED TO THE AGGREGATE RECEIVABLES 

 EXHIBIT A 

FORM OF SUBORDINATED NOTE 

THIS SUBORDINATED NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR ANY STATE SECURITIES LAW, AND MAY NOT BE DIRECTLY OR INDIRECTLY OFFERED OR SOLD OR OTHERWISE DISPOSED OF BY THE OWNER HEREOF UNLESS SUCH TRANSACTION IS EXEMPT FROM REGISTRATION UNDER THE ACT AND SUCH STATE LAWS, AND WILL NOT BE A “PROHIBITED
TRANSACTION” UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”). BY ACCEPTANCE OF THIS SUBORDINATED NOTE, THE HOLDER AGREES TO BE BOUND BY ALL THE TERMS OF THE RECEIVABLES SALE AGREEMENT. 

December 17, 2013 
 FOR VALUE RECEIVED, the undersigned,
NRZ Servicer Advance Facility Transferor BC, LLC, a Delaware limited liability company (the “Depositor”), promises to pay to the order of Advance Purchaser LLC, a Delaware limited liability company (the “Seller”),
on [    ], 20[  ] (the “Maturity Date”) the aggregate unpaid principal amount of all amounts loaned hereunder pursuant to Section 2(d) of that certain Amended and Restated Receivables Sale
Agreement, dated as of December 17, 2013 (together with all amendments and other modifications, if any, from time to time thereafter made thereto, the “Receivables Sale Agreement”), among the Seller, Nationstar Mortgage LLC,
Advance Purchaser LLC and the Depositor, together with any and all accrued and unpaid interest on all amounts loaned hereunder. 
 Interest
will accrue on the average daily balance of the unpaid principal amount of all amounts loaned hereunder for each day from the date such loan amounts are made until they become due and or are paid in full, at a rate per annum equal to the sum of
(i) the LIBOR Rate (as defined below) and (ii) a spread designated as such in writing by the Seller to the Depositor from time to time (the “Spread”). Interest will be computed on the basis of a 360-day year and paid for
the actual number of days elapsed (including the first but excluding the last day). Should any principal of, or accrued interest on, any amounts loaned hereunder not be paid when due, such amount will bear interest from its due date until paid in
full, at a rate per annum equal to the sum of (i) the LIBOR Rate, (ii) the Spread and (iii) 1.00%. Interest shall be payable on the unpaid principal balance of this note (this “Subordinated Note”) commencing on
[    ], 20[  ] and continuing on the 20th day of each month. With respect to any such 20th day that is not a
Business Day, the interest payment otherwise due on such 20th day shall be due on the next subsequent day that is a Business Day. 

For the purposes of this Subordinated Note, “LIBOR Rate” shall mean the offered rate for one-month U.S. dollar deposits as
such rate appears on Reuters Screen LIBOR01 Page (as 

 
defined in the International Swaps and Derivatives Association, Inc. 2000 Definitions) or such other page as may replace Reuters Screen LIBOR01 Page as of 11:00 a.m. (London time) on such date;
provided that if such rate does not appear on Telerate Page 3750, the rate for such date will be determined on the basis of the rates at which one-month U.S. dollar deposits are offered by leading banks engaged in transactions in Eurodollar deposits
in the international Eurocurrency market (i) with an established place of business in London, (ii) whose quotations appear on the Bloomberg Screen US0001M Index Page on the date in question and (iii) which have been designated as such
by the Calculation Agent (as defined below) (after consultation with the Administrative Agent) (as defined below) and are able and willing to provide such quotations to the Calculation Agent for such date (the “Reference Banks”) at
approximately 11:00 a.m. (London time) on such date to prime banks in the London interbank market. In such event, the Seller will request the principal London office of each of the Reference Banks to provide a quotation of its rate. If at least two
such quotations are provided, the rate for that date will be the arithmetic mean of the quotations (rounded upwards if necessary to the nearest whole multiple of 1/16%). If fewer than two quotations are provided as requested, the rate for that date
will be the arithmetic mean of the rates quoted by major banks in New York City, selected by the Seller, at approximately 11:00 a.m. (New York City time) on such date for one-month U.S. dollar loans to leading European banks. 

Unless plainly wrong, the computer records of the holder hereof shall on any day conclusively evidence the unpaid balance of this Subordinated
Note and its advances and payments history posted up to that day. All loans and advances and all payments and permitted prepayments made hereon may be (but are not required to be) set forth by or on behalf of such holder on the schedule which is
attached hereto or otherwise recorded in such holder’s computer or manual records; provided, that any failure to make notation of any principal advance or accrual of interest shall not cancel, limit or otherwise affect Depositor’s
obligations or any of such holder’s rights with respect to that advance or accrual. Unless otherwise defined, capitalized terms used herein have the meanings provided in or specified in accordance with the Receivables Sale Agreement. 

The obligation of the Depositor to pay the principal of, and interest on, all loans and advances on this Subordinated Note shall be absolute
and unconditional, shall be binding and, to the fullest extent permitted by law, enforceable in all circumstances whatsoever and shall not be subject to setoff, recoupment or counterclaim; provided, however, that the Depositor shall
only be obligated to pay principal and interest on this Subordinated Note from cash actually received by the Depositor from distributions on the Receivables after payment of all amounts due the Noteholder under the Amended and Restated Indenture,
dated as of December 17, 2013, among NRZ Servicer Advance Receivables Trust BC (the “Issuer”), Wells Fargo Bank, N.A., as indenture trustee, calculation agent, paying agent and securities intermediary, Nationstar Mortgage LLC,
as Servicer (prior to the respective MSR Transfer Dates) and as Subservicer, Advance Purchaser LLC, as Administrator and as Servicer (on and after the respective MSR Transfer Dates), and Barclays Bank PLC, as Administrative Agent. 

Depositor may prepay at any time, without penalty or fee, the principal or interest outstanding hereunder or any portion of such principal or
interest. Payments of both principal and interest are to be made in lawful money of the United States of America in same day or immediately available funds. 

 The Seller hereby agrees, prior to the date that is 367 days after the Maturity Date, not to
acquiesce, petition, or invoke the process of any court or government authority (or to encourage or cooperate with others) for the purpose of commencing or sustaining a case against the Seller under any Federal or state bankruptcy, insolvency or
similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of or for the Seller or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the
Seller. The foregoing shall not limit the rights of the Depositor to file any claim in, or to otherwise take any action with respect to, any insolvency proceeding instituted against the Seller by any other unaffiliated entity. 

Notwithstanding anything contained herein to the contrary, to the extent that the Seller is deemed to have any interest in any assets of the
Depositor, the Seller agrees that its interest in those assets is subordinate to claims or rights of all other creditors of the Depositor. The Seller agrees that this Subordinated Note constitutes a subordinated note for purposes of
Section 510(a) of the United States Bankruptcy Code, as amended from time to time (11 U.S.C. §§ 101 et seq.). 
 As set forth
in Section 2(d) of the Receivables Sale Agreement, the Depositor hereby represents and warrants as of each loan and advance made hereon that at the time of (and immediately after) each loan and advance made hereunder, (i) the
Depositor’s total assets exceed its total liabilities both before and after the sale transaction, (ii) the Depositor’s cash on hand is sufficient to satisfy all of its current obligations (other than its obligations under this
Subordinated Note and the obligation to pay the Cash Purchase Price), (iii) the Depositor is adequately capitalized at a commercially reasonable level and (iv) the Depositor has determined that its financial capacity to meet its financial
commitment under the Subordinate Loan and this Subordinated Note is adequate. Each loan or advance made hereunder by the Seller to the Depositor is subject to the accuracy of the representations and warranties herein made on the part of the
Depositor. 
 This Subordinated Note is the Subordinated Note referred to in, and evidences indebtedness incurred under, the Receivables
Sale Agreement, and the holder hereof is entitled to the benefits of the Receivables Sale Agreement. Upon and subject to the terms and conditions of the Receivables Sale Agreement, Depositor may borrow, repay and reborrow against this note under the
circumstances, in the manner and for the purposes specified in the Receivables Sale Agreement and this Subordinated Note, but for no other purposes. All parties hereto, whether as makers, endorsers or otherwise, severally waive presentment for
payment, demand, protest and notice of dishonor. 
 THIS SUBORDINATED NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE
INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY OTHERWISE APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS. 
 [Signature Page
Follows] 

 
			
	NRZ SERVICER ADVANCE FACILITY TRANSFEROR BC, LLC
		
	By:	 	 /s/ Cameron MacDougall

	Name:	 	Cameron MacDougall
	Title:	 	Secretary

 Signature Page to Subordinated Note

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