SEC Contract Filing

Filing Date: 2015-05-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>a2015q1-10qxexhibit103.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<a name="s1fa155c7e01e41cebbc01cb728609fb1"></a><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:5px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.3</font></div><div style="line-height:120%;padding-top:5px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-top:5px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXECUTION</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:1px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:1px;text-align:center;padding-left:226px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">AMENDMENT NO. 6 TO</font></div><div style="line-height:120%;text-align:center;padding-left:33px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">MORTGAGE LOAN PARTICIPATION PURCHASE AND SALE AGREEMENT</font></div><div style="line-height:120%;padding-top:1px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:8px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Amendment No. 6 to Mortgage Loan Participation Purchase and Sale Agreement, dated as of March 2, 2015 (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221;), by and between Bank of America, N.A. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Purchaser</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and Stonegate Mortgage Corporation (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Seller</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:1px;text-align:center;padding-left:278px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">RECITALS</font></div><div style="line-height:120%;padding-top:1px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:1px;text-align:justify;padding-left:8px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Purchaser and Seller are parties to that certain Mortgage Loan Participation Purchase and Sale Agreement, dated as of June 24, 2013 (as amended, restated, supplemented or otherwise modified from time to time, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Existing Purchase and Sale Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;; and as amended by this Amendment, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Purchase and Sale Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:1px;text-align:justify;padding-left:8px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Purchaser and Seller have agreed, subject to the terms and conditions of this Amendment, that the Existing Purchase and Sale Agreement be amended to reflect certain agreed upon revisions to the terms of the Existing Purchase and Sale Agreement.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:8px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Accordingly, Purchaser and Seller hereby agree, in consideration of the mutual promises and mutual obligations set forth herein, that the Existing Purchase and Sale Agreement is hereby amended as follows:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:8px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 1. </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Profitability Covenant</font><font style="font-family:inherit;font-size:12pt;">. For purposes of this Amendment, this Section 1 shall be effective as of October 1, 2014. Section 10(j) of the Existing Purchase and Sale Agreement is hereby amended by deleting clause (v) in its entirety and replacing it with the following:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font sty