AMENDMENT NUMBER THREE
Mortgage Loan Participation Purchase and Sale Agreement
Dated as of February 28, 2013
JEFFERIES FUNDING LLC (f/k/a JEFFERIES MORTGAGE FUNDING, LLC)
This AMENDMENT NUMBER THREE (this Amendment) is made as of this 25th day of June, 2019, by and between Jefferies Funding LLC (f/k/a Jefferies Mortgage Funding, LLC) (Purchaser) and loanDepot.com, LLC (Seller) to the Mortgage Loan Participation Purchase and Sale Agreement, dated as of Feburary 28, 2013 (as amended, supplemented or otherwise modified from time to time, the Agreement), between Purchaser and Seller.
WHEREAS, Seller and Purchaser agree to amend the Agreement as more specifically set forth herein; and
WHEREAS, as of the date of this Amendment, Seller represents to Purchaser that it is in compliance with all of the representations and warranties and all of the affirmative and negative covenants set forth in the Agreement and is not in default under the Agreement.
NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and for the mutual covenants herein contained, the parties hereto hereby agree as follows:
Section 1. Amendments. Effective as of June 25, 2019 (the Effective Date), the Agreement is hereby amended as follows:
(a) Section 1 of the Agreement is hereby amended by deleting the respective definitions for Mortgage Loan and Participation Certificate in their entirety and replacing them with the following revised definitions (with the new language underlined for ease of review):
Mortgage Loan: (i) A GNMA Mortgage Loan, a FNMA Mortgage Loan, a FHLMC Mortgage Loan or (ii) any mortgage loan which is subject to a Pre-Formation Participation Certificate which mortgage loan is (x) an Agency Eligible Mortgage Loan, (y) a Jumbo Mortgage Loan, or (z) an Approved Mortgage Loan.
Participation Certificate: A GNMA Participation Certificate, a FNMA Participation Certificate, a FHLMC Participation Certificate, or Pre-Formation Participation Certificate as applicable.
(b) Section 1 of the Agreement is hereby further amended by adding the following new terms and related definitions in appropriate alphabetical order:
Agency Eligible Mortgage Loan: A residential mortgage loan that is is in Strict Compliance with an applicable Agency Guide.
Approved Mortgage Loan: A residential mortgage loan (other than a GNMA Mortgage Loan, a FNMA Mortgage Loan, a FHLMC Mortgage Loan, an Agency Eligible Mortgage Loan or a Jumbo Mortgage Loan) that is acceptable to the Purchaser in its sole and absolute discretion.