AMENDMENT NUMBER FOUR
Amended and Restated Mortgage Loan Participation Purchase and Sale Agreement
dated as of July 17, 2015
BANK OF AMERICA, N.A.
This AMENDMENT NUMBER FOUR (this Amendment) is made as of the 14th day of July, 2017 (the Effective Date), by and between Bank of America, N.A. (Purchaser) and loanDepot.com, LLC (Seller) to the Amended and Restated Mortgage Loan Participation Purchase and Sale Agreement, dated as of July 17, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the Agreement), between Purchaser and Seller.
WHEREAS, Seller has requested and Purchaser agrees to amend the Agreement as more specifically set forth herein; and
WHEREAS, as of the Effective Date, 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 the Effective Date, the Agreement is hereby amended as follows:
(a) Section 1 of the Agreement is hereby modified by deleting the definitions of Aggregate Transaction Limit, Effective Date, Expiration Date, Facility Fee, Mortgage, Mortgaged Property and S&P in their respective entireties and replacing them with the following (with the modified text underlined for review purposes):
Aggregate Transaction Limit: The sum of (x) $25,000,000 plus (y) the amount of any Temporary Increase agreed to by Purchaser for so long as such Temporary Increase is in effect.
Effective Date: July 14, 2017.
Expiration Date: The earlier of (i) July 13, 2018, (ii) at Purchasers option, upon the occurrence of an Event of Default, and (iii) the date on which this Agreement shall terminate in accordance with the provisions hereof or by operation of law.
Facility Fee: The greater of (i) [***] and (ii) the product of [***] basis points [***] and the Aggregate Transaction Limit which shall be due on the Effective Date.