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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 https://elitecashadvance.com/loans/second-chance-payday-loans/ 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). Mortgage Improve and collectively, the Loan) will be used by Borrower to finance Portfolio Excess Spread (as defined below);

Today, Therefore, from inside the consideration of common plans established here, and other a great and you will valuable consideration, the fresh bill and you can sufficiency where is actually hereby recognized, Bank and you can Debtor hereby agree as follows.

For each and every get better from Lender so you can Borrower pursuant to that particular Agreement (for each and every, a good

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.

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