SEC Contract Filing

Filing Date: 2021-05-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>tm2114910d1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXECUTION VERSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-top: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MASTER REPURCHASE AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">among</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PFSI ISSUER TRUST &ndash; FMSR<BR>
(&ldquo;<U>Buyer</U>&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PENNYMAC LOAN SERVICES, LLC<BR>
(&ldquo;<U>Seller</U>&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PRIVATE NATIONAL MORTGAGE ACCEPTANCE COMPANY, LLC<BR>
(&ldquo;<U>Guarantor</U>&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Dated as of April&nbsp;28, 2021</P>

<P STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>TABLE OF CONTENTS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>Page</U></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
 <TR STYLE="vertical-align: top">
 <TD STYLE="width: 13%"><FONT STYLE="font-size: 10pt">ARTICLE&nbsp;I</FONT></TD>
 <TD STYLE="width: 77%"><FONT STYLE="font-size: 10pt">DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION</FONT></TD>
 <TD STYLE="vertical-align: bottom; width: 10%; text-align: right">&nbsp;</TD></TR>
 <TR STYLE="vertical-align: top">
 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
 <TR STYLE="vertical-align: top">
 <TD STYLE="padding-left: 0.2in"><FONT STYLE="font-size: 10pt">Section&nbsp;1.01</FONT></TD>
 <TD STYLE="padding-left: 0.2in"><FONT STYLE="font-size: 10pt">Definitions</FONT></TD>
 <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">5</FONT></TD></TR>
 <TR STYLE="vertical-align: top">
 <TD STYLE="padding-left: 0.2in"><FONT STYLE="font-size: 10pt">Section&nbsp;1.02</FONT></TD>
 <TD STYLE="padding-left: 0.2in"><FONT STYLE="font-size: 10pt">Interpretation</FONT></TD>
 <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">5</FONT></TD></TR>
 <TR STYLE="vertical-align: top">
 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
 <TR STYLE="vertical-align: top">
 <TD><FONT STYLE="font-size: 10pt">ARTICLE&nbsp;II</FONT></TD>
 <TD><FONT STYLE="font-size: 10pt">GENERAL TERMS</FONT></TD>
 <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
 <TR STYLE="vertical-align: top">
 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
 <TR STYLE="vertical-align: top">
 <TD STYLE="padding-left: 0.2in"><FONT STYLE="font-size: 10pt">Section&nbsp;2.01</FONT></TD>
 <TD STYLE="padding-left: 0.2in"><FONT STYLE="font-size: 10pt">Transactions</FONT></TD>
 <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">7</FONT></TD></TR>
 <TR STYLE="vertical-align: top">
 <TD STYLE="padding-left: 0.2in"><FONT STYLE="font-size: 10pt">Section&nbsp;2.02</FONT></TD>
 <TD STYLE="padding-left: 0.2in"><FONT STYLE="font-size: 10pt">Procedure for Entering into Transactions</FONT></TD>
 <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">7</FONT></TD></TR>
 <TR STYLE="vertical-align: top">
 <TD STYLE="padding-left: 0.2in"><FONT STYLE="font-size: 10pt">Section&nbsp;2.03</FONT></TD>
 <TD STYLE="padding-left: 0.2in"><FONT STYLE="font-size: 10pt">Repurchase; Payment of Repurchase Price; Optional Payments</FONT></TD>
 <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="