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 Business). Mortgage Progress and collectively, the Loan) will be used by Borrower to finance Portfolio Excess Spread (as defined below);

Today, Ergo, from inside the consideration of your common plans established here, or any other a and you will worthwhile attention, the latest bill and you may sufficiency of which is actually hereby accepted, Bank and you will Borrower hereby consent below.

For each progress created by Lender to help you Debtor pursuant compared to that Contract (for each, a great

Acknowledgement Contract means with respect to Agency Servicing Rights, 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. (more…)