Agreement) is made as of ong PENNYMAC LOAN SERVICES, LLC, as lender (the Lender) and PENNYMAC HOLDINGS, LLC, as borrower (the Debtor).
WHEREAS, in order to finance Portfolio Excess Spread (as defined below) owned by 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 Studio). Loan Get better and collectively, the Loan) will be used by Borrower to finance Portfolio Excess Spread (as defined below);
Now, Ergo, for the believe of your own shared agreements set forth here, and other good and you can rewarding said, the new acknowledgment and sufficiency at which was hereby approved, Financial and Debtor hereby consent below.
For every get better made by Financial so you can Debtor pursuant compared to that Agreement (for every, good
Acknowledgement Arrangement means with respect to Agency Servicing Rights Powell bad credit payday loans no credit check, 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. Read More