That it Mortgage and you may Safeguards Contract (as the exact same finished, modified, restated or formulated sometimes, that it
Agreement) is made as of ong PENNYMAC LOAN SERVICES, LLC, as lender (the Bank) and PENNYMAC HOLDINGS, LLC, as borrower (the Debtor).
WHEREAS, in order to finance Portfolio Excess Spread (as defined below) owned by Borrower from time to time, Borrower has requested and Lender has made and will make available to Borrower a revolving credit facility in an amount not to exceed the Maximum Loan Amount (the Facility). Loan Progress and collectively, the Loan) will be used by hop over to the web site Borrower to finance Portfolio Excess Spread (as defined below);
Today, Hence, into the thought of your shared agreements established here, or other a beneficial and you may beneficial believe, the brand new bill and you can sufficiency at which try hereby approved, Financial and you will Borrower hereby consent below.
For every improve made by Financial so you’re able to Debtor pursuant to this Arrangement (per, a good
Acknowledgement Contract means with respect to Agency Servicing Rights, an acknowledgement agreement in the form prescribed by Fannie Mae, Freddie Mac or Ginnie Mae, as applicable to be executed by Lender and such Agency as a condition to the Lender’s participating Fannie Mae, Freddie Mac or Ginnie Mae (as the case may be) Servicing Rights to the Borrower and otherwise acceptable to Lender in its sole discretion.