Document:

pfsi_Ex10_133

		

			Exhibit 10.133

		

		

			 

		

		

			EXECUTION VERSION

		

		
			 
		

		
			 
		

		
			 
		

		
			DEUTSCHE BANK AG, CAYMAN ISLANDS BRANCH, as buyer (“Buyer”),
		

		
			and
		

		
			PENNYMAC LOAN SERVICES, LLC, as seller (“Seller”),
		

		
			 
		

		
			__________
		

		
			AMENDMENT NO. 4
		

		
			dated as of January 29, 2019
		

		
			to the
		

		
			MASTER REPURCHASE AGREEMENT
		

		
			dated as of August 21, 2017
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

 

		

		
			AMENDMENT NO. 4 TO MASTER REPURCHASE AGREEMENT
		

		
			This Amendment No. 4 to Master Repurchase Agreement, dated as of January 29, 2019 (this “Amendment”), is entered into by and among Deutsche Bank AG, Cayman Islands Branch (“Buyer”) and PennyMac Loan Services, LLC (“Seller”).  Any capitalized terms not defined herein shall have the meaning assigned to such term in the Master Repurchase Agreement (as defined below).
		

		
			WHEREAS, the parties hereto entered into that certain Master Repurchase Agreement, dated as of August 21, 2017 (as amended, restated, supplemented or otherwise modified from time to time, the “Master Repurchase Agreement”);
		

		
			WHEREAS, in connection with the Master Repurchase Agreement, the parties hereto entered into that certain Pricing Side Letter, dated as of August 21, 2017 (as amended, restated, supplemented or otherwise modified from time to time, the “Pricing Side Letter”);
		

		
			WHEREAS, the parties hereto desire to modify the Master Repurchase Agreement as described below;
		

		
			NOW, THEREFORE, in consideration of the premises and covenants contained herein 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.        Amendment.
		

		
			(a)        Section 1 of the Master Repurchase Agreement is hereby amended by adding the following definitions of “Maryland Consumer Relief Credit Eligible Asset,” “Maryland Incentive Eligible Asset” and “Maryland Incentive Payment Date” in their entirety in the appropriate alphabetical order:
		

		
			“Maryland Consumer Relief Credit Eligible Asset” shall mean each Consumer Relief Credit Eligible Asset that is sold to the Buyer pursuant to a Transaction in accordance with the terms of this Agreement on and after January 2, 2019, and before April 1, 2019.
		

		
			“Maryland Incentive Eligible Asset” shall mean each Mortgage Loan (other than a Maryland Consumer Relief Credit Eligible Asset) (a) that is secured by a purchase money mortgage, (b) as of the date of determination, has an unpaid principal balance less than Eight Hundred Thousand Dollars ($800,000), (c) as to which the related annual Mortgagor income as of the date of origination is less than Five Hundred Thousand Dollars ($500,000), (d) for which the related Mortgaged Property is located in the State of Maryland, and (e) that is sold to the Buyer pursuant to a Transaction in accordance with the terms of this Agreement on and after January 2, 2019, and before April 1, 2019, but is, as of the date of determination, no longer subject to such Transaction.  No Mortgage Loan shall be considered a Maryland Incentive Eligible Asset until Buyer and Seller agree that the foregoing conditions have been satisfied.
		

		
			
		

		
			

		 

 

		

			 

		

		

		
			“Maryland Incentive Payment Date” shall mean with respect to each applicable Purchased Item, not later than the last day of the month immediately following the month during which such Purchased Item was determined to be a Maryland Incentive Eligible Asset.
		

		
			Section 2.        Conditions to Effectiveness of this Amendment.
		

		
			(a)        This Amendment shall become effective on the date on which Buyer shall have received and Seller shall have completed, or shall have caused to be completed, the following conditions:  the execution and delivery of (i) this Amendment by all parties hereto and (ii) that certain Amendment No. 1 to Pricing Side Letter, dated as of the date hereof, by all parties thereto.
		

		
			(b)        Master Repurchase Agreement Remains in Effect.  Except as expressly amended by this Amendment, the Master Repurchase Agreement remains in full force and effect and nothing in this Amendment shall otherwise affect any other provision of the Master Repurchase Agreement or the rights and obligations of the parties thereto.
		

		
			Section 3.        Expenses.  Seller hereby agrees that in addition to any costs otherwise required to be paid pursuant to the Master Repurchase Agreement, the Pricing Side Letter or the other Repurchase Documents, Seller shall be responsible for the payments of the reasonable and documented legal fees and out-of-pocket expenses of legal counsel to Buyer incurred in connection with the consummation of this Amendment and all other documents executed or delivered in connection therewith.
		

		
			Section 4.        Representations; Ratifications Covenants.
		

		
			(a)        In order to induce Buyer to execute and deliver this Amendment, Seller hereby represents and warrants to Buyer that as of the date hereof, Seller is in full compliance with all of the terms and conditions of the Master Repurchase Agreement and no Default or Event of Default has occurred and is continuing under the Master Repurchase Agreement.
		

		
			(b)        The parties hereto ratify all terms of the existing Master Repurchase Agreement other than those amended hereby, and ratify those provisions as amended hereby.
		

		
			Section 5.        Incorporation by Reference.  Sections 13.02 (Notices), 13.11 (Successors and Assigns), 13.13 (Captions), 13.14 (Counterparts), 13.15 (Governing Law; Repurchase Agreement Constitutes Security Agreement), 13.17 (Electronic Signatures), 13.18 (Submission To Jurisdiction; Waivers), 13.19 (Waiver of Jury Trial) and 13.30 (Entire Agreement) of the Master Repurchase Agreement are incorporated herein by reference, mutatis mutandis.
		

		
			[signature pages follow]
		

		
			 
		

		
			 
		

		
			

		 

		

			2

		

 

		

			 

		

		

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

			
					
						DEUTSCHE BANK AG, CAYMAN ISLANDS BRANCH,
as Buyer

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By: 

					
					
						/s/ Timothy P.F. Crowley

					
					
						 

				
	
					
						Name: 

					
					
						Timothy P.F. Crowley

					
					
						 

				
	
					
						Title: 

					
					
						Managing Director

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By: 

					
					
						/s/ Genevieve Nestor

					
					
						 

				
	
					
						Name: 

					
					
						Genevieve Nestor

					
					
						 

				
	
					
						Title: 

					
					
						Managing Director

					
					
						 

				

		
			
		

		

		 

		

			Amendment No. 4 to Master Repurchase Agreement

		

 

		

			 

		

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						PENNYMAC LOAN SERVICES, LLC, as Seller

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By: 

					
					
						/s/ Pamela Marsh

					
					
						 

				
	
					
						Name: Pamela Marsh

					
					
						 

				
	
					
						Title: Managing Director, Treasurer

					
					
						 

				

		
			 
		

		 

		

			Amendment No. 4 to Master Repurchase Agreementpfsi_Ex10_137

		
			Exhibit 10.137
		

		
			 
		

		
			EXECUTION
		

		
			 
		

		
			AMENDMENT NO. 2
		

		
			TO MASTER REPURCHASE AGREEMENT
		

		
			Amendment No. 2 to Master Repurchase Agreement, dated as of November 6, 2018 (this “Amendment”), among BNP Paribas (the “Buyer”), PennyMac Loan Services, LLC (the “Seller”) and Private National Mortgage Acceptance Company, LLC (the “Guarantor”).
		

		
			RECITALS
		

		
			The Buyer, Seller and Guarantor are parties to that certain Master Repurchase Agreement, dated as of November 17, 2017 (as amended by Amendment No. 1 to Master Repurchase Agreement, dated as of August 20, 2018 the “Existing Repurchase Agreement”, and as amended by this Amendment, the “Repurchase Agreement”).  The Guarantor is party to that certain Guaranty dated as of November 17, 2017 (as amended, supplemented or otherwise modified from time to time, the “Guaranty”) made by the Guarantor in favor of the Buyer.  Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Existing Repurchase Agreement.
		

		
			The Buyer, Seller and Guarantor have agreed, subject to the terms and conditions of this Amendment, that the Existing Repurchase Agreement be amended to reflect certain agreed upon revisions to the terms of the Existing Repurchase Agreement.  As a condition precedent to amending the Existing Repurchase Agreement, the Buyer has required on the date hereof the Guarantor to ratify and affirm the Guaranty.
		

		
			Accordingly, the Buyer, Seller and Guarantor hereby agree, in consideration of the mutual promises and mutual obligations set forth herein, that the Existing Repurchase Agreement is hereby amended as follows:
		

		
			SECTION 1.   Definitions.  (a) Section 2 of the Existing Repurchase Agreement is hereby amended by deleting the definition of “Termination Date” in its entirety and replacing it with the following:
		

		
			“Termination Date” means the earlier of (i) August 2, 2019 and (ii) at the option of Buyer, the occurrence of an Event of Default.
		

		
			SECTION 2.   Conditions Precedent.  This Amendment shall become effective on the date hereof (the “Amendment Effective Date”), subject to the satisfaction of the following conditions precedent:
		

		
			2.1 Delivered Documents.  On the Amendment Effective Date, the Buyer shall have received the following documents, each of which shall be satisfactory to the Buyer in form and substance:
		

		
			(a)  this Amendment, executed and delivered by the Buyer, Seller and Guarantor;
		

		
			(b)  an amendment to the Pricing Side Letter, executed and delivered by the Buyer, Seller and Guarantor; and
		

		
			
		

		
			

		 

 

		

		
			(c)  such other documents as the Buyer or counsel to the Buyer may reasonably request.
		

		
			SECTION 3.   Representations and Warranties.  Seller hereby represents and warrants to the Buyer that it is in compliance with all the terms and provisions set forth in the Repurchase Agreement on its part to be observed or performed, and that no Event of Default has occurred or is continuing, and hereby confirms and reaffirms the representations and warranties contained in Section 12 of the Repurchase Agreement.
		

		
			SECTION 4.   Limited Effect.  Except as expressly amended and modified by this Amendment, the Existing Repurchase Agreement shall continue to be, and shall remain, in full force and effect in accordance with its terms.
		

		
			SECTION 5.   Severability.  Each provision and agreement herein shall be treated as separate and independent from any other provision or agreement herein and shall be enforceable notwithstanding the unenforceability of any such other provision or agreement.
		

		
			SECTION 6.   Counterparts.  This Amendment may be executed in one or more counterparts and by different parties hereto on separate counterparts, each of which, when so executed, shall constitute one and the same agreement.  Delivery of an executed counterpart of a signature page of this Amendment in Portable Document Format (PDF) or by facsimile shall be effective as delivery of a manually executed original counterpart of this Amendment.
		

		
			SECTION 7.  GOVERNING LAW.  THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.
		

		
			SECTION 8.    Reaffirmation of Guaranty.  The Guarantor hereby consents to this amendment and ratifies and affirms all of the terms, covenants, conditions and obligations of the Guaranty.
		

		
			 
		

		
			[SIGNATURE PAGE FOLLOWS]
		

		
			 
		

		
			 
		

		
			

		 

		

			-2-

		

 

		

		
			IN WITNESS WHEREOF, the undersigned have caused this Amendment to be duly executed as of the date first above written.
		

			
					
						Buyer:

					
					
						BNP PARIBAS, as Buyer

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By: 

					
					
						/s/ Jonathan Banks

				
	
					
						 

					
					
						Name: Jonathan Banks 

				
	
					
						 

					
					
						Title: Director

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By: 

					
					
						/s/ Christopher Korpi

				
	
					
						 

					
					
						Name: Christopher Korpi 

				
	
					
						 

					
					
						Title: Managing Director

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Seller:

					
					
						PENNYMAC LOAN SERVICES, LLC, as Seller

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ Pamela Marsh

				
	
					
						 

					
					
						Name: Pamela Marsh

				
	
					
						 

					
					
						Title: Managing Director, Treasurer

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Guarantor:

					
					
						PRIVATE NATIONAL MORTGAGE ACCEPTANCE COMPANY, LLC, as Guarantor

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By: 

					
					
						/s/ Pamela Marsh

				
	
					
						 

					
					
						Name: Pamela Marsh

				
	
					
						 

					
					
						Title: Managing Director, Treasurer

				

		
			 
		

		 

		

			Signature Page to Amendment No. 2 to Master Repurchase Agreement

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