This Financing and you will Defense Contract (due to the fact exact same ended, changed, restated or supplemented sporadically, which

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 Business). Loan Improve and collectively, the Loan) will be used by Borrower to finance Portfolio Excess Spread (as defined below);

Today, For this reason, into the thought of shared preparations established herein, and other a great and you will valuable believe, brand new receipt and you may sufficiency of which was hereby acknowledged, Bank and you can Borrower hereby concur as follows.

Each improve created by Bank to Borrower pursuant compared to that Agreement (per, a

Acknowledgement Agreement 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. […]