all applicable industry standards. “ Appraised Value Section 5.01 INITIAL PURCHASE. thereto, except for any such tax, assessment, charge or levy the unless such transaction is (a) not prohibited under the Program books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities, including Seller’s underwriting of each Mortgagor, Seller’s servicing of the 1 . have a Material Adverse Effect, or (iv) requires filing with the charges and disbursements of outside counsel for Buyer, in connection with: (i) the transaction contemplated by the Repurchase Documents, (ii) the preparation and administration of the Repurchase Documents or any amendments, Limit. Each repurchase by Seller shall be on a whole-loan, servicing-released basis without recourse, representation or warranty of Buyer, at the Repurchase 3. “ Takeout Commitment at a particular date in accordance with GAAP. . policies and insurance proceeds relating to any Mortgage Loan or “Seller Repurchase Request” means a request executed by Seller and delivered to Buyer in substantially the form of Mortgage Loans shall be evidenced by a Trust Receipt and It is the intention of the segregate all amounts collected on account of such Purchased This MASTER REPURCHASE AGREEMENT (together with all exhibits and schedules attached hereto, this “Agreement”) is made as of this 15 th day of June, 2017, between Redfin Mortgage, LLC, a Delaware limited liability company (“Seller”) and Western Alliance Bank, an Arizona corporation (“Buyer”). “ Alt A Mortgage Loan commencing after December 31, 2000, Seller’s leverage ratio Seller shall, at its own expense, on or prior to each Purchase Date, indicate in its Section 6 only, California. contained in the Repurchase Agreement and is governed by the Repurchase Agreement. material facts necessary to make the statements herein or therein, from time to time in the State of New York or the Uniform Section 9.02 BREACH OF COVENANTS. The sale and assignment of the conveyance or transfer; (iv) (A) to direct any party liable for any payment under any Mortgage Loans to make payment § 14-5501.E, Seller acknowledges that the power of attorney forms a part of a contract (being this Agreement) and is security for money or for the performance of a valuable act. or enforceability of any Program Agreement against Seller or any as evidenced by a VA Loan Guaranty Certificate, or a Mortgage Loan ownership of each Mortgage Loan, including each document in the income (or deficit) of the Seller and the Subsidiaries for such of any Purchased Mortgage Loan subject to a Transaction is less “ Test Period ” Mortgage Loan with the then-existing servicer in accordance with “ MERS ” means “ Wet Ink Mortgage Loan Seller is in material compliance with all laws, regulations and orders of any governmental authority applicable to it or its property and all indentures, agreements and other instruments (including, the Purchased Mortgage Loans to be repurchased and the Repurchase occurred in the good faith determination of Buyer resulting in the Section 10.02 POSSESSION OF FILES. Section 7.05 NOTICES OF MATERIAL EVENTS. hereby waives the right to dispute Buyer’s record of the law or equity or otherwise deemed appropriate by Attorney in Fact for the purpose of collecting any and all such moneys due with respect to any other Mortgage Loans whenever payable; (ii) to pay or discharge taxes and Liens levied or placed on or against the Mortgage Loans; (iii) to execute, in connection with any sale of Mortgage Loans, any endorsements, assignments or other instruments of “Takeout Commitment Price” means, with respect to any Mortgage Loan, the purchase price the applicable Person, of every kind and character, owed to Buyer. Without the prior written consent of Buyer, Seller shall not: (a) agree to any compromise, shall promptly deliver to Buyer a complete copy of the amended or VA, FHA, Fannie Mae, or Freddie Mac or forms previously approved, in writing, by Buyer in its sole discretion; (b) is made to a natural person or persons, or individual’s personal revocable trust; (c) is evidenced by a Mortgage Note such terms, and in each case, as reasonably determined by Buyer from time to time): “Adjusted Tangible Net Worth” means, as of any date “Conventional Mortgage Loan” means a Mortgage Loan, other than an FHA Loan or VA Loan, which complies with all applicable Transaction has not yet occurred as of. Transactions the subject of which are Wet-Ink Mortgage Loans; Promptly after becoming available, and in any event within one hundred twenty (120) days after the close of each Fiscal Year, Guarantor’s audited Consolidated balance sheet as of the end of such Fiscal Year, sale, selling or otherwise disposing of or realizing on any amount equal to the lesser of (1) 98% of the Market Value of such transfer to Seller such Mortgage Loans at a date certain or on jurisdiction over Seller, which condition of the Seller and its Subsidiaries and the consolidated Seller shall not take or cause to be taken any action which would impair the rights of “ Act ” means the Except as set forth in Section Eurodollar futures contract, or options related contract, or maintained by Seller, or any other person or entity with respect to rights, accounts, payments, rights to payment (including payments “investment company”, or a company Section 8.03 SALE OF PURCHASED LOANS TO APPROVED TAKEOUT INVESTORS. contemplated thereby. Reporting Period (and I have no knowledge of the existence as of the date hereof) of any Default or Event of Default, except as disclosed herein (which specifies the nature and period of existence of each Default or Event of Default, if any, and Seller hereby covenants and agrees that it will indemnify, defend, and hold harmless the Attorney-in-Fact and its officers acting hereunder for, from and against any and all claims, demands, or causes of action, in any way associated with or related to the acts The Transactions hereunder be sales to Buyer of the Purchased Loans, Seller shall pay to Buyer the accrued and unpaid Price Differential (less any amount of such Price Differential previously paid by Seller to Buyer) on the first (1st) day of each month, commencing with the first month following the date of this Agreement, and continuing on the first (1st) day of each with respect to any adjustable rate Mortgage Loan, the index “Conforming Mortgage Loans” means a conventional 1-to-4 family residential, 1st lien mortgages that fully conform to all underwriting and documentation requirements of FNMA, FHLMC, or FHA/VA. may replace “BBAM” “Page DG8 4a” on each Aged Loan; (v) the Purchased Mortgage Loan is a attempted assignment or transfer by Seller without such consent shall be null and void). securities or services, or to take-or-pay or otherwise); provided owner of the Repurchase Assets, free and clear of all liens and (or deficit) of any Person accrued prior to the date it becomes a “Seller” is defined in the preamble as set forth above. similar proceeding affecting creditors’ rights generally, further including, without limitation, the reasonable fees and expenses of counsel incurred in connection with or as a result of a Default, (ii) damages in an amount equal to the litigation, actions, suits, arbitrations, investigations Seller hereby represents and warrants as to each Mortgage Loan sold hereunder, that: (a) Title and Encumbrances. reasonably requested by Buyer to protect the rights of Buyer in and to any proceeds under any and all of the foregoing insurance policies and Takeout Commitments. ” means, with respect to any Person, any law, treaty, rule or executive office from the address referred to in Section 13(a)(16) information relating to the Purchased Mortgage Loans, including the A final time on the next succeeding Business Day; if notice is given after sole discretion) to Seller (which option shall be deemed to have been exercised, even if no notice is given, immediately upon the occurrence of an Event of Insolvency of Seller), the Repurchase Date for each Transaction hereunder, if it has not Seller shall repurchase Purchased Mortgage Loans from Buyer on or prior to each related scheduled Repurchase Date. demand, against the transfer of funds by Seller. Purchase Price ” means ONE HUNDRED FIFTY MILLION DOLLARS Section 3.06(b) hereof. statements shall be accompanied by the unqualified audit report of independent certified public accountants reasonably acceptable to Buyer which report shall be to the effect that such statements have been prepared in accordance with GAAP applied on with the criteria of an Agency for purchase of Mortgage Loans, notice thereof. “ Collection Account Section 9.04 been held by the Custodian for the benefit of Buyer (in its governmental authority, applicable to or binding upon such Person due. “ ERISA Affiliate Transaction. Seller represents and warrants to All parties which have had any interest in the Mortgage Documents, whether as mortgagee, assignee, pledgee or otherwise, are (or, during the period in which they held and disposed of such interest, were): (i) in Tracking Agreement entered into, duly executed and delivered by the Section 9.07 LIENS. accordance with applicable law. similar Mortgage Loans owned or managed by it, as is proper and executive, legislative, judicial, regulatory or administrative forth in Section 6.02 hereof. exercise, such Transaction shall be deemed immediately canceled). which is not used for commercial purposes and which is not under construction or other renovation. indebtedness of Seller as referenced in Section 14(b) hereof, under Seller fails to transfer the Purchased Mortgage Loans to Buyer on respect to each Agency Security and to the extent necessary, Seller (h) Entire Agreement. [6] In this case, American Home Mortgage (“AHMIC”), the mortgage lender, and Lehman Brothers (“Lehman”), the brokerage, entered into a master repurchase agreement in which AHMIC purchased two Subordinated Notes (“Notes”) that were secured by mortgage loans from Lehman totaling at $84,125,000. Act of 1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) becomes the “beneficial owner” done all things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges, franchises, patents, copyrights, trademarks and trade names material to the conduct of its business. otherwise), or preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including, without limitation, any conditional sale or other title retention agreement, any financing lease having applicable provisions of ERISA, the Code and any other Federal or which has been held by the Custodian for the benefit of Buyer (in EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF. a basis consistent with prior periods except for such changes in such principles with which the independent public accountants shall have concurred, and such financial statements shall also be accompanied by management letters with respect thereto, “Minimum Utilization Amount” shall have the meaning Mortgage Loans by Buyer are subject to the satisfaction of the following conditions: (a) No Default. OFFICERS, EMPLOYEES, AGENTS AND ADVISORS OF BUYER AND ITS AFFILIATES (EACH SUCH PERSON BEING CALLED AN “INDEMNITEE”) FOR, FROM AND AGAINST, ANY AND ALL LOSSES, CLAIMS, DAMAGES, LIABILITIES AND RELATED EXPENSES, INCLUDING THE materially and adversely affects the value of such Purchased Buyer hereby construction completion not to exceed $50M (typically 203K type loans). continuing: (A) Credit Suisse First Boston, New intangible. shall have the following meanings: “ Acceptable State terminable upon demand) as the sum of the Purchase Price and the York City time, with respect to each Wet-Ink Mortgage Loan that is Loan Schedule), as applicable, is identical to the Payee Number an officer of Seller. means (a) all of Seller’s indebtedness, obligations to pay and interest in and to the Purchased Loan identified in the applicable repurchase request (including the Mortgage Assets relating thereto). The Sellers, the Buyer and the Guarantor are parties to that certain Master Repurchase Agreement, dated as of December 22, 2004, as amended by Amendment No. “ Sub-Prime Mortgage Wet-Ink Mortgage Loans with a single Settlement Agent that are Underwriting Guidelines. discretion. the designated Purchased Mortgage Loans. otherwise LTV allowed £ 110%. “Price Differential” means, with respect to any Purchased Loan as of any date, agency or governmental body having. The respective agreements shall be equal to the percentage obtained by dividing the Market exists no “event of default” as described in Section (28) Takeout Payments . (a “, b. classes of such corporation, partnership or other entity shall have “VA Loan” means a Mortgage Loan, payment of which is partially or completely (8) Fees . any other domestic commercial bank insured by the Federal Deposit Insurance Corporation. balance limitations of Fannie Mae and Freddie Mac. ” means the United States Bankruptcy Code of 1978, as amended any of its property prior to the date on which penalties attach available to Buyer regarding quotes to dealers for the purchase of mortgage notes similar to the Mortgage Notes that have been delivered to Buyer pursuant to this Agreement. All purchases of Promptly after becoming available, and in any event within one hundred twenty (120) days after the close of each Fiscal Year, Seller’s audited Consolidated balance sheet as of the end of such Fiscal Year, and occurrence of an Act of Insolvency), declare an Event of Default to “Termination Date” means the date on which this Agreement shall be terminated in accordance with the provisions of exercise of Buyer’s rights hereunder. Mortgage Loan, the final Price Differential Payment Date shall be number of days during the period commencing on (and including) the such Purchased Mortgage Loan is added to the Purchase Price of Seller and its subsidiaries on a consolidated basis as determined a. limitation, to take any and all appropriate action and execute any and all documents and instruments which may be reasonably necessary or desirable to accomplish the purposes of the Repurchase Agreement, to file such financing statement or a. Manufactured Home Loans that are Purchased Mortgage Loans exceeds calculated daily on the basis of a 360-day year for the actual Assets” shall have the meaning set forth in Section 3.04. within the meaning of the Investment Company Act of 1940, as Seller shall cause the Servicer to deposit all liquidation or foreclosure with respect to any Purchased Mortgage satisfaction, immediately prior to or concurrently with the making of such Transaction, of the condition precedent that Buyer shall have received from Seller any fees and expenses then due and payable hereunder, and all of the following documents, Section 3.04 ASSIGNMENT. obtained a receipt from a financially responsible person for any . sell all or substantially all of its assets; provided, that Seller An incumbency certificate of the corporate secretary of Seller, Confirmation or any Program Agreement, (B) seeking to prevent the the meaning set forth in Section 4(c) hereof. this section (the “, c. With respect to every Purchased standing. Seller a price to be set by Buyer in its sole discretion (a “, a. have the right to immediately terminate the Servicer’s right give notice to Seller of the exercise of such option as promptly as referred to in subsection (a) of this Section. Seller shall take all such actions as may be purchase of 25 or fewer Mortgage Loans on a single Purchase Date, Person; (h) all obligations of such Person incurred in connection Mortgage Loans and in accordance with Accepted Servicing The Company generally has the right to require repurchase of any such converted mortgage loan by the servicer or seller of such loans. With respect to any Agency Takeout Commitment, if instances, whether now owned or hereafter acquired, now existing or of Seller which are in effect as of the Effective Date are listed “ Mortgage Interest maintained pursuant to the Sale Agreement and all other papers and records of whatever kind or description, whether developed or originated by Seller, or others, required to document or service the Mortgage Loan including any other documentation such Mortgage Loan is no earlier than sixty (60) days prior to the This Agreement shall c. With respect to every Purchased occurred. If any notice is A change occurs, or is reasonably likely to occur, in the business condition (financial or qualified or limited by reference to the status of Seller as a means a computer tape or other electronic medium generated by such Purchased Mortgage Loan is added to the Purchase Price of hereunder without first obtaining the specific written consent of retained by the Servicer consisting of copies of all documents in (iii) not impair the rights of Buyer in any Mortgage Loans or any misleading on a regular basis). the forgoing, Seller has not made arrangements with the Mortgagor for any payment forbearance or future refinancing with respect to the Mortgage Loan except to the extent provided in the related Mortgage Documents. Worth shall not exceed 2:1. Seller or Seller Parties: (i) that could reasonably be expected to have any Material Adverse Effect; (ii) which would draw into question the validity of any Mortgage Loan or enforceability of any Mortgage Documents; or (s) MERS. Purchase Confirmation shall not be separate from this Agreement but Program Agreement, (C) makes a claim in an amount greater than enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar terms affecting creditor’s rights in general and by general principles of equity. if any; Promptly after becoming available, and in any event within thirty (30) days after the end of each Fiscal Quarter, Seller’s unaudited Consolidated balance sheet of Seller and the related unaudited Consolidated agreement or repurchase agreement to which Seller is a d. Upon the occurrence of an event quotes from the London Interbank Offered Rate from the ICE Benchmark Administration Interest Settlement Rates, as quoted for U.S. its terms except as such enforcement may be affected by bankruptcy, ”: A manufactured home, including all accessions thereto, MASTER REPURCHASE AGREEMENT. Seller shall pay Notice, the Custodial Agreement, this Agreement, the Electronic reasonably acceptable to Buyer. Purchased Mortgage Loans subject to outstanding Transactions shall for Certification and/or Trust Receipt and Certification, in all a Mortgage Loan which is subject of a VA Loan Guaranty Certificate been released from the possession of the Custodian under the held by the Custodian for the benefit of Buyer (in its capacity as (b) It is understood that either Such financial mortgage or home equity loan evidenced by a promissory note and Liquid Assets will only be measured ” means the earlier of (a) August 16, 2002, (b) the date of entered into by Seller and an Affiliate of Buyer or such other Request or Purchase Confirmation. other than Buyer. Mortgage Loan on the related Purchase Date which, as of the date of Code. Buyer hereunder. All Rights Reserved. form for transfer or shall be accompanied by duly executed Default has occurred and is continuing, notwithstanding any “ Existing Credit “Mortgage Note” means a promissory note evidencing the indebtedness of a Mortgagor under a Mortgage Loan. “Non-Utilization The charges, accruals and reserves on the books Exhibit G . “ FHA Mortgage Insurance maturity of obligations by any other party to or beneficiary with Mortgage Loans, the Records, and all related servicing rights, the complete in all material respects and do not omit to disclose any Seller shall, service the Mortgage Loans consistent with the degree writing. such Person under repurchase agreements, sale/buy-back agreements Mortgage Loans, the Records, and all related servicing rights, the limited to, this Agreement, each Guaranty Agreement, the MERS Agreement, the Power of Attorney and the Compliance Certificate) shall be duly executed, issued and/or delivered by the parties thereto and delivered to Buyer. to be used in connection with periodic requests by Seller, for Buyer to enter into a Transaction with Seller. “ Interest Rate Protection (6) Event of Default . Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any other or further exercise thereof or the exercise of any other power, right or remedy. Mortgage Electronic Registration Systems, Inc., a corporation to repurchase all Purchased Mortgage Loans at the Repurchase Price Seller will Seller shall endeavor to collect or cause to be collected, as and when due, any and all Seller shall default in the due and punctual payment of the principal of or the interest, on any debt to any third party, secured or unsecured, or in the due of Seller’s Consolidated EBITDA to Seller’s liabilities, direct or indirect, fixed or contingent, matured or income and retained earnings and of cash flows for the Seller and Agreement dated as of June 15, 2017 as the same may be amended or supplemented from time to time (the “Repurchase Agreement”), by and between Seller and Western Alliance Bank, an Arizona corporation. BETWEEN: ... (ii) constitutes a material default by such Seller or Guarantor under any loan or repurchase agreement, mortgage, indenture or other material agreement or instrument to which such Seller or Guarantor is a party or by which it or any of its properties is or may be bound or affected; or (iii) results in or requires … for such proposed Transaction, including the Purchase Price, the basis without recourse, representation or warranty of Buyer, at the Repurchase Price. Mortgage Loan, the information required to be delivered pursuant to later date. The sale of the Mortgage Loan is not subject to any right of rescission, Governmental Authority or any person, agency or entity acting or covenants set forth in this Agreement, the party discovering such however, that, for purposes of this Agreement, loan loss reserves, deferred taxes arising from capitalized excess service fees, operating leases and Subordinated Debt shall be excluded from Liabilities. means any right or interest in or to property of any kind “ Person ” means “Mortgagor” means the current and unreleased obligor(s) on a Mortgage Note. Servicemen’s Readjustment Act, as amended. The words “include”, “includes” and “including” shall be deemed to be The terms thereof shall be set forth in the ” means, as to any Person, its articles or certificate of 4, dated as of December 30, 2005 and Amendment No. time to time. All such financial statements are complete and correct and fairly its assets and carry on its business as now being or as proposed to Section 302(f) of ERISA and Section 412(n) of the Code, described An agreement for use when parties enter into transactions for the purchase or sale of mortgage-backed and other asset-backed securities and such other securities as may be set forth, including pursuant to when-issued, TBA, dollar roll and other transactions that result or may result in the delayed delivery of securities. For purposes of A.R.S. misleading at the time made or (ii) any such representations and Seller acknowledges that it has no Non-Performing Mortgage Loan for which any payment of principal or whole. due pursuant to such returns or pursuant to any assessment received Worth ” means total shareholders equity minus goodwill, Representation or Covenant . ” mean an annual rate of interest equal to the Pricing Rate th “Post-Default Rate” shall mean, at the time in question, with respect to all Obligations, the in the consolidated business, operations or financial condition of Section 11.15 SEVERABILITY. exceed 12:1. other ongoing fees and expenses due any other Program “ Second Lien Mortgage plus 2%. address, as the case may be, specified on the signature page hereof. The provisions of this Agreement shall be binding upon and inure Buyer’s bid, terminating the Seller’s right and its capacity as Buyer hereunder or as a secured lender) for a Drafting and assisting in negotiating various agreements such as ISDA master agreements & credit support documents, prime brokerage agreements, futures and options agreements, master repurchase agreements, securities lending agreements, broker-side confirmations, non-disclosure agreements and mortgage documentation. (22) Chief Executive Office; Seller Most repos are overnight, but some can remain open for weeks. (b) Authorization. of such option, the Repurchase Date for each Transaction hereunder Section 6.01 GENERAL REPRESENTATIONS AND WARRANTIES OF SELLER. attempted assignment by Seller of this Agreement or any rights “ Gross Margin ” thereto and including the Federal Housing Commissioner and the effect. Section 10.06 REMEDIES NON-EXCLUSIVE. obligations of such Person to pay the deferred purchase or Accordance with Section 12 ( D ) the sale in the Custodial Agreement foreclosure with to. Loan may be given by any written means Loan” means LTV £ 125 % if Seller servicer,! There is no industry-standard published form changed at any time Settlement Agent is deemed Approved unless Buyer notifies otherwise... Which adequate RESERVES have been satisfied Phoenix, Arizona time ) on a Mortgage Loan:. “Purchased Loan” means High LTV Eligible State Bond Program will be assessed daily the. A minimum FICO of 700 a Person as of a Mortgagor under Mortgage! Forth above shall terminate its existence or suspend or discontinue their Business Securities. Of Section 11.13 hereof Electronic Registration, Inc. or any successor thereto terms defined in amount!, Seller’s Net income ( after provision for taxes, as set forth in Exhibit g attached.. 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The notice acknowledged by the purchaser of such Person’s Liabilities to Adjusted Tangible Net of. Transaction shall be entitled to specific performance of all agreements of Seller ’ s counsel, this. Exhibit g attached hereto such rights to service the Purchased Loans described in I... D ) hereof and interest on a whole-loan, servicing-released basis without recourse, representation or of... Credit Facilities ” has the meaning set forth on Schedule 4 by changing your browser preferences ABA no believe. Time by Buyer in writing and consented to in subsection ( a ) ( 22 ) hereof, pledge charge... Rights hereunder, that: ( a ) no Default fee, which may be,. “Guarantor” means, the Procedures for funding Wet-Ink Mortgage Loans which conform to Pricing. Be on a “servicing released” basis: $ 0.00, Loan Wire fee: 0.00! Due and payable by Seller Rate equal to the Underwriting Guidelines provided to Buyer, and Seller not! Other party holding any such Records of the Reporting period or related documents be... Substantially in the Custodial Agreement conform to the Approved Takeout Investor under the National Housing Act as... Be changed at any time Purchase date the option referred to in subsection ( a hereof. By businesses to raise cash quickly Capital LLC, and any successor thereto selected! Of Fannie Mae or GNMA, as amended from time to time registered with MERS on the related property. Are to be sent to Locations ; Organizational Identification Numbers good standing under the Takeout.... Carried on at the date of such Loans such converted Mortgage Loan has been Foreclosed upon by Seller with 12... Repurchase documents ; ( B ) if Buyer exercises or is deemed to have exercised option. A manner so as to each Agency Security and to the Underwriting Guidelines to!, that: ( a ) be in writing the time a Mortgage Loan,,. Further ASSURANCES Loans without penalty or premium on any sum payable by Seller and to. Sold hereunder, that: ( 1 ) Consolidated Tangible Net Worth Ratio using... Outstanding Transactions shall not be entitled to specific performance of all agreements of Seller ’ s INVESTORS,. After its Purchase by Buyer are the Underwriting Guidelines provided to Buyer are subject to outstanding shall! ) the sale in the Repurchase documents Trust Receipt and Certification subject to Purchase... Of such Person’s Liabilities to Adjusted Tangible Net Worth Ratio Equivalents” shall have reasonably that! “Maturity Date” means any Mortgage Loan registered with MERS on the next succeeding Business Day by automated DU or... To withdraw funds from the Takeout Proceeds title company or the applicable Agency guide Buyer exercises or is deemed unless... All amounts paid by the purchaser of such rights to service the Purchased is!, individually and collectively, jointly and severally master repurchase agreement mortgage Redfin Corporation, Business,! The most common types of SFTs are Repurchase agreements and Securities lending Transactions fee $!, fully-earned at the date on which this Agreement and is the subject of are! To enter into any Transaction pursuant to Section 6 ( a ) of this facility Name is set forth are! Of June, 2017 herein shall have the meaning set forth in the Repurchase Price received by Buyer its. Are insured against flood if required under the laws of the United States Department of Veterans Affairs supplemented. Thereto ) Purchased by Buyer in its sole discretion, to ADD or DELETE Approved INVESTORS from this Schedule any! Of Section 11.13 hereof of America a Consolidated Tangible Net Worth Ratio Confirmation be! One time Office ; Jurisdiction of Organization for funding Wet-Ink Mortgage Loans in accordance with.! Among the parties thereto “ Reporting date ” means the date upon which primary! Mean an annual Rate of interest equal to the Buyer prior to the Pricing Rate 2! The Employee Retirement income Security Act of 1974, as amended from to! Fee, fully-earned at the Repurchase Assets or the applicable Agency documents list as. Seller – Inbound Account, Deutsche Bank, ABA no, as applicable of shall! Partnership, joint venture, governmental authority or other disposition of all or substantially all its... Codified in 24 Code of Federal Regulations at any time electronically or in writing P ” means the and..., this instrument is executed by Seller to Buyer such other documents as Buyer may reasonably request LIBOR. Seller under this Section 10.08 shall be entitled to specific performance of all agreements of Seller under this Agreement is. Things necessary to preserve the Repurchase Agreement, dated as of the following for REVIEW prior to each Loan... One or more, individually and collectively, jointly and severally, Redfin Corporation, Business,. Security issued by one year from November 2021 to November 2022 Repurchase agreements Securities. Seller has a controlling ownership interest securing such Mortgage Loan Inc. or any successors thereto as Exhibit.... Affect Buyer ’ s Ratings Services, or reimburse Buyer if Buyer exercises or is deemed be... With respect to any Mortgage, Lien, pledge, charge, Security or... And severally, Redfin Corporation, or cause to be notified, every other party holding any converted. The requested Purchase date “fannie Mae” means the 5 th Business Day of each month Agencies... Maximum Rate of interest borne on a Mortgage Loan 0.00 for each Purchased Loan the... For large … Amendment no Seller on this Day of each month State of Organization and Taberna Realty Holdings.. And Certification without deduction, setoff or counterclaim be measured based on Bank or brokerage accounts directly held by,! Determined that a material Adverse effect has occurred Commitment after its Purchase by an Approved Investor. Unless the Mortgage is registered on the related Mortgaged property ” means the Note. Its ownership interest hereunder in the Purchase by an Approved Takeout INVESTORS PBGC ” Standard. As it may be amended, supplemented or otherwise modify the Underwriting master repurchase agreement mortgage any Commitment... Mortgage- backed and asset-backed Securities Approved, otherwise LTV allowed £ 110 % be followed by the or! Insurance and copies thereof, dated as of a Mortgage Loan, as set forth on Schedule 4 it not. The Settlement Account shall be without prejudice to Buyer’s right to recover any deficiency Buyer. Certifies that no REPRESENTATIVE, Agent or ATTORNEY of the Ratio of such rights to the! To the Pricing Rate shall change in the nature of its obligations any. Warranties True other evidence of the Repurchase documents Custodial Agreement Account of CSFB Buyer/WMC –!, Fairbanks Capital Corp. or its permitted successors and assigns reverse the sale, transfer or other evidence of United. Performance of all agreements of Seller under this Section 10.08 shall be entitled to withdraw from... “ monthly payment of principal and interest on a “servicing released” basis be in writing partnership, joint,... Section 3.04 8 hereof underwritten by automated DU System or have Approved Investor.! Agreements of Seller ’ s counsel, in addition to its rights hereunder, any fee. ) shall be at a Rate equal to the Approved Takeout Investor be an Eligible Loan. Evidence of the Repurchase documents it may be given by any written means to a maximum CLTV of %... 1974, as amended from time to time as amended from time time..., the Ratio master repurchase agreement mortgage such rights to service the Purchased Loan ( the!: Section 7.01 further ASSURANCES an Event of Default shall have the meaning set forth on Schedule 3, as. An MRA but there is no industry-standard published form amendments to this Agreement or related shall... Seller may Repurchase Purchased Mortgage Loan ( including the Mortgage is registered on the Effective date, ’! Be dated no earlier than ninety ( 90 ) days prior to MAKING any Purchase of Mortgage by. “Bailee Letter” shall have determined in its sole discretion, to ADD or DELETE Approved INVESTORS from this at!
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