Amendment to PHH Mortgage Corporation / Sheffield $500,000,000 Mortgage Warehouse Facility Repurchase Agreement
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Summary
This agreement, dated January 13, 2006, is between Sheffield Receivables Corporation, PHH Mortgage Corporation, PHH Corporation, and Barclays Bank PLC. It amends the existing $500,000,000 Mortgage Loan Repurchase and Servicing Agreement by extending its expiration date to January 12, 2007. All parties agree to the new expiration date, continuing their business relationship under the same terms as the original agreement, except for this change.
EX-10.1 2 ex10-1.htm EXHIBIT 10.1
Exhibit 10.1
January 13, 2006
PHH Mortgage Corporation
3000 Leadenhall Road
Mt. Laurel, NJ 08054
| Re: | PHH Mortgage Corporation / Sheffield $500,000,000 Mortgage Warehouse Facility |
Ladies and Gentlemen:
Reference is hereby made to the Fourth Amended and Restated Mortgage Loan Repurchase and Servicing Agreement dated as of June 30, 2005 (the “Repurchase Agreement”) among Sheffield Receivables Corporation, as Purchaser ("the Purchaser"), Barclays Bank PLC, as Administrative Agent (the "Administrative Agent"), PHH Mortgage Corporation, as Seller and Servicer (the "Seller") and PHH Corporation, as Guarantor. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Repurchase Agreement.
The Purchaser hereby requests that pursuant to clause (i) of the definition of Expiration Date, the new Expiration Date of the Repurchase Agreement will be January 12, 2007 in respect of such clause.
If you agree to such change please indicate in the signature space provided below. We look forward to our continued business relationship.
| Very truly yours, | |||
| SHEFFIELD RECEIVABLES CORPORATION | |||
| By: Barclays Bank PLC, as attorney-in-fact | |||
| /s/ Janette Lieu | |||
| By: | Janette Lieu | ||
| Title: | Director | ||
ACCEPTED AND AGREED:
PHH MORTGAGE CORPORATION,
As Seller
| /s/ Mark Johnson | |
| By: | Mark Johnson |
| Title: | Vice President and Treasurer |
PHH CORPORATION,
As Guarantor
/s/ Neil J. Cashen
| By: | Neil J. Cashen |
| Title: | CFO |
BARCLAYS BANK PLC,
As Administrative Agent
/s/ Jeffrey Goldberg
| By: | Jeffrey Goldberg |
| Title: | Associate Director |
