Article cuatro of your Existing Learn Repurchase Contract are hereby revised with the addition of the following the fresh Area cuatro

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Article cuatro of your Existing Learn Repurchase Contract are hereby revised with the addition of the following the fresh Area cuatro

Specific Known Guidance Might have been Omitted On Display Because it Is both Perhaps not Situation And you can May likely End in Aggressive Damage to Brand new REGISTRANT In the event that In public places Announced. [***] Reveals that Guidance Might have been REDACTED.

Amendment No. 8 to Master Repurchase Arrangement, dated as of endment?), by and between Bank of America, N.A. (?Consumer?) and Caliber Home Loans, Inc. (?Vendor?).

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Buyer and Seller are parties to that certain Master Repurchase Agreement, dated as of ended, restated, supplemented or otherwise modified from time to time, the ?Present Master Repurchase Contract?; and as further amended by this Amendment, the ?Master Repurchase Agreement?).

Customer and you can Merchant features consented, subject to the brand new terms and conditions associated with the Modification, the Current Grasp Repurchase Agreement be amended so you’re able to echo particular that site decided news to your regards to the current Grasp Repurchase Contract.

Accordingly, Client and you may Supplier hereby consent, when you look at the consideration of shared guarantees and you will common obligations established here, your Current Learn Repurchase Contract was hereby revised the following:

SECTION 1. Recognized Payees. Section 3.7 of the Existing Master Repurchase Agreement is hereby amended by deleting subsection (b) in its entirety and replacing it with the following:

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(b) . To ensure that a factory lender that provides financial support according away from a beneficial Correspondent Home loan to be designated an approved Payee regarding one Price, Vendor should submit to Consumer an authored demand, including the identity and target of your own factory bank, showing an importance of such as for instance designation. Regardless of the foregoing, Buyer reserves the right to will not employ such factory financial due to the fact a prescription Payee, otherwise, rather, to need even more terms and conditions to ensure Visitors so you can pay a cost to including facility bank.

4.14 Solution Rate. If prior to any Payment Date, Buyer determines in its sole discretion that, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining One-Month LIBOR, One-Month LIBOR is no longer in existence, or the administrator of One-Month LIBOR or a Governmental Authority having jurisdiction over Buyer has made a public statement identifying a specific date after which One-Month LIBOR shall no longer be made available or used for determining the interest rate of loans (such specific date, the ?Scheduled Unavailability Big date?), Buyer shall give prompt notice thereof to Seller. In addition, upon such time as Buyer chooses in good faith an alternative benchmark rate (including any mathematical or other adjustments to the benchmark rate (if any) incorporated therein and any proposed Successor Rates Conforming Changes, as determined by Buyer and consistent with the benchmark rate of similarly situated counterparties with similar assets in similar facilities) (such rate, a ?Successor Rate?) to succeed One-Month LIBOR, Buyer shall give prompt notice thereof to Seller, and the Applicable Pricing Rate shall be such Successor Rate from the date specified in such notice until such notice has been withdrawn by Buyer.

(g) . The only credit facilities, including repurchase agreements for mortgage loans and mortgage-backed securities, of Seller that are presently in effect and are secured by mortgage loans or provide for the purchase, repurchase or early funding of mortgage loan sales, are either (i) with Persons disclosed to Buyer at the time of application, or thereafter disclosed on the monthly compliance certificate, and, if required by Buyer, such Persons have executed and delivered an Intercreditor Agreement (or will execute and deliver an Intercreditor Agreement within sixty (60) days following the Effective Date in accordance with Section 7.step 3) or (ii) warehouse lenders that provide financing in respect of a Correspondent Mortgage Loan that are Approved Payees.

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