Waiver Agreement to Amended and Restated Mortgage Warehouse Agreement between Texas Capital Bank and Reverse Mortgage Solutions, Inc.
This agreement is between Texas Capital Bank and Reverse Mortgage Solutions, Inc. It temporarily waives certain financial requirements that Reverse Mortgage Solutions, Inc. must meet under their existing mortgage warehouse agreement. Specifically, from November 1, 2012, to March 8, 2013, the bank will not enforce the minimum tangible net worth and maximum leverage ratio covenants. All other terms of the original agreement remain in effect.
Exhibit 10.53.4
![]() |
Reference is made to that certain amended and restated mortgage warehouse agreement dated as of November 1, 2012 (as amended, the Warehouse Agreement), between Texas Capital Bank, National Association, as bank (Bank) and Reverse Mortgage Solutions, Inc., as seller (Seller). Capitalized terms used herein but not defined herein shall have the meaning ascribed to such terms in the Warehouse Agreement.
The Seller hereby requests that the Bank waive, and the Bank does hereby waive from and after November 1, 2012 until and including March 8, 2013, compliance by the Seller with the following financial covenants:
| Section 1(a) of the Additional Warehouse Facility Covenants Addendum attached as Exhibit F to the Warehouse Agreement (Minimum Tangible Net Worth) |
| Section 1(c) of the Additional Warehouse Facility Covenants Addendum attached as Exhibit F to the Warehouse Agreement (Maximum Leverage Ratio) |
Sincerely,
Reverse Mortgage Solutions, Inc. | ||
By: | ||
Name: | ||
Title: |
Acknowledged and Agreed:
Texas Capital Bank, National Association | ||
By: | ||
Name: | ||
Title: |
Reverse Mortgage Solutions, Inc. 2727 Spring Creek DriveSpring, TX 77373 NMLS ID #107636 | ![]() |