the Company,
as Agent and a Lender,
as Syndication Agent and a Lender,
as Sole Bookrunner and Lead Arranger
Page | ||||||||
ARTICLE I GENERAL TERMS | 2 | |||||||
Section 1.01 | Certain Definitions | 2 | ||||||
Section 1.02 | Other Definitional Provisions | 16 | ||||||
Section 1.03 | Exhibits and Schedules | 17 | ||||||
Section 1.04 | Calculations and Determinations | 17 | ||||||
ARTICLE II TERMS OF CREDITS | 17 | |||||||
Section 2.01 | Commitments and Discretionary Swingline Commitment | 17 | ||||||
Section 2.02 | Promissory Notes | 18 | ||||||
Section 2.03 | Obtaining Loans; Refinancing of Swingline Loans | 18 | ||||||
Section 2.04 | Interest; Balances Deficiency Fees; Continuations and Conversions | 21 | ||||||
Section 2.05 | Fees | 23 | ||||||
Section 2.06 | Mandatory Repayments | 23 | ||||||
Section 2.07 | Payments to Lenders | 23 | ||||||
Section 2.08 | Increased Capital Requirements | 24 | ||||||
Section 2.09 | Provisions Relating to LIBOR Rate Advances and Balance Funded Rate Advances | 25 | ||||||
Section 2.10 | Taxes | 26 | ||||||
ARTICLE III CONDITIONS PRECEDENT | 28 | |||||||
Section 3.01 | Initial Borrowing | 28 | ||||||
Section 3.02 | All Borrowings | 29 | ||||||
Section 3.03 | New Co-Borrowers | 30 | ||||||
Section 3.04 | Force Majeure | 31 | ||||||
ARTICLE IV BORROWER REPRESENTATIONS AND WARRANTIES | 31 | |||||||
Section 4.01 | Organization and Good Standing | 31 | ||||||
Section 4.02 | Authorization and Power | 32 | ||||||
Section 4.03 | No Conflicts or Consents | 32 | ||||||
Section 4.04 | Enforceable Obligations | 32 | ||||||
Section 4.05 | No Liens | 32 | ||||||
Section 4.06 | Financial Condition of the Company | 32 | ||||||
Section 4.07 | Full Disclosure | 32 | ||||||
Section 4.08 | No Default | 33 | ||||||
Section 4.09 | No Litigation | 33 | ||||||
Section 4.10 | Taxes | 33 | ||||||
Section 4.11 | Principal Office, etc. | 33 | ||||||
Section 4.12 | Compliance with ERISA | 33 | ||||||
Section 4.13 | Subsidiaries | 33 |
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Section 4.14 | Indebtedness | 34 | ||||||
Section 4.15 | Permits | 34 | ||||||
Section 4.16 | Status Under Certain Federal Statutes | 34 | ||||||
Section 4.17 | No Approvals Required | 34 | ||||||
Section 4.18 | Individual Mortgage Loans | 34 | ||||||
Section 4.19 | Ginnie Mae, FHA, VA, Fannie Mae and Freddie Mac Eligibility of the Borrowers | 35 | ||||||
Section 4.20 | Co-Borrowers | 36 | ||||||
ARTICLE V AFFIRMATIVE COVENANTS | 36 | |||||||
Section 5.01 | Financial Statement and Reports | 36 | ||||||
Section 5.02 | Taxes and Other Liens | 37 | ||||||
Section 5.03 | Maintenance | 37 | ||||||
Section 5.04 | Further Assurances | 37 | ||||||
Section 5.05 | Reimbursement of Expenses | 38 | ||||||
Section 5.06 | Insurance | 38 | ||||||
Section 5.07 | Accounts and Records | 39 | ||||||
Section 5.08 | Right of Inspection | 39 | ||||||
Section 5.09 | Notice of Certain Events | 39 | ||||||
Section 5.10 | Performance of Certain Obligations and Information Regarding Investors | 39 | ||||||
Section 5.11 | Use of Proceeds; Margin Stock | 40 | ||||||
Section 5.12 | Notice of Default | 40 | ||||||
Section 5.13 | Compliance with Loan Documents | 40 | ||||||
Section 5.14 | Operations and Properties | 40 | ||||||
Section 5.15 | Maintenance of Qualifications | 40 | ||||||
Section 5.16 | Closing Procedures | 40 | ||||||
ARTICLE VI NEGATIVE COVENANTS | 41 | |||||||
Section 6.01 | No Merger | 41 | ||||||
Section 6.02 | Limitation on GAAP Indebtedness and Contingent Indebtedness | 41 | ||||||
Section 6.03 | Business | 41 | ||||||
Section 6.04 | Liquidations, Dispositions of Substantial Assets | 42 | ||||||
Section 6.05 | Loans, Advances, and Investments | 42 | ||||||
Section 6.06 | Use of Proceeds | 43 | ||||||
Section 6.07 | Actions with Respect to Mortgage Collateral | 43 | ||||||
Section 6.08 | Transactions with Affiliates | 43 | ||||||
Section 6.09 | Liens | 43 | ||||||
Section 6.10 | ERISA Plans | 44 | ||||||
Section 6.11 | Change of Principal Office; Fiscal Year | 44 | ||||||
Section 6.12 | Distributions | 44 | ||||||
Section 6.13 | Tangible Net Worth | 44 | ||||||
Section 6.14 | Tangible Net Worth Ratio | 44 | ||||||
Section 6.15 | Net Income | 44 | ||||||
Section 6.16 | Custodian | 44 | ||||||
Section 6.17 | Payments to Parent | 44 |
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ARTICLE VII EVENTS OF DEFAULT | 44 | |||||||
Section 7.01 | Nature of Event | 44 | ||||||
Section 7.02 | Default Remedies | 46 | ||||||
ARTICLE VIII INDEMNIFICATION | 47 | |||||||
Section 8.01 | Indemnification | 47 | ||||||
Section 8.02 | Limitation of Liability | 48 | ||||||
ARTICLE IX AGENT | 48 | |||||||
Section 9.01 | Appointment and Authorization | 48 | ||||||
Section 9.02 | Note Holders | 48 | ||||||
Section 9.03 | Consultation With Counsel | 48 | ||||||
Section 9.04 | Documents | 48 | ||||||
Section 9.05 | Agent and Affiliates | 49 | ||||||
Section 9.06 | Action by Agent | 49 | ||||||
Section 9.07 | Credit Analysis | 49 | ||||||
Section 9.08 | Notices of Event of Default, etc. | 49 | ||||||
Section 9.09 | Indemnification | 49 | ||||||
Section 9.10 | Payments | 50 | ||||||
Section 9.11 | Sharing of Set-Offs and Other Payments | 50 | ||||||
Section 9.12 | Successor Agent | 51 | ||||||
Section 9.13 | Notice of New Investors | 51 | ||||||
ARTICLE X MISCELLANEOUS | 52 | |||||||
Section 10.01 | Notices | 52 | ||||||
Section 10.02 | Amendments, etc. | 53 | ||||||
Section 10.03 | Invalidity | 53 | ||||||
Section 10.04 | Survival of Agreements | 53 | ||||||
Section 10.05 | Renewal, Extension or Rearrangement | 54 | ||||||
Section 10.06 | Waivers | 54 | ||||||
Section 10.07 | Cumulative Rights | 54 | ||||||
Section 10.08 | Construction | 54 | ||||||
Section 10.09 | Limitation on Interest | 54 | ||||||
Section 10.10 | Bank Accounts; Offset | 55 | ||||||
Section 10.11 | Assignments, Participations, Commitment Amount Increases and New Lenders | 55 | ||||||
Section 10.12 | Exiting Lenders | 57 | ||||||
Section 10.13 | Exhibits | 57 | ||||||
Section 10.14 | Titles of Articles, Sections and Subsections | 58 | ||||||
Section 10.15 | Counterparts | 58 | ||||||
Section 10.16 | ENTIRE AGREEMENT | 58 | ||||||
Section 10.17 | Termination; Limited Survival | 58 | ||||||
Section 10.18 | Confidentiality of Information | 58 |
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Section 10.19 | JURY WAIVER | 59 | ||||||
Section 10.20 | Relationship Among Borrowers | 59 | ||||||
Section 10.21 | USA Patriot Act Notice | 62 |
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Any Borrower: | DHI Mortgage Company, Ltd. | |||
12357 Riata Trace Parkway, Suite C150 | ||||
Austin, Texas 78727 | ||||
Attn: Randall C. Present | ||||
FAX: (512) 345-7348 | ||||
TEL: (512) 345-4663 | ||||
With copies to: | Samuel R. Fuller | |||
Ted I. Harbour | ||||
Bill W. Wheat | ||||
301 Commerce Street | ||||
Dallas, Texas 76102 | ||||
FAX: (817) 390-1704 | ||||
TEL: (817) 390-8200 | ||||
Agent: | U.S. Bank National Association | |||
U.S. Bancorp Center | ||||
BC-MN-HO3B | ||||
800 Nicollet Mall | ||||
Minneapolis, Minnesota 55402 | ||||
Attn: Edwin Jenkins | ||||
FAX: (612) 303-2253 | ||||
TEL: (612) 303-3582 | ||||
Syndication Agent: | JP Morgan Chase Bank, N.A. | |||
707 Travis, 6th Floor North | ||||
Houston, TX 77002 | ||||
Attn: Cynthia E. Crites | ||||
FAX: (713) 216-1567 | ||||
TEL: (713) 216-4425 |
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DHI MORTGAGE COMPANY, LTD., (FORMERLY KNOWN AS CH MORTGAGE COMPANY I, LTD.) | ||||
By: DHI Mortgage Company GP, Inc., (formerly known as CH Mortgage Company GP, Inc.),its General Partner | ||||
By: | /s/ Mark C. Winter | |||
Mark C. Winter | ||||
Chief Financial Officer and | ||||
Vice President |
/s/ Melody A. Hansen | ||||
Signature of Notary Public, State ofTexas | ||||
(Print, Type or Stamp Commissioned Name of Notary Public) | ||||
Personally known ; OR Produced Identification | ||||
Type of ID produced | ||||
(NOTARIAL SEAL) |
U.S. BANK NATIONAL ASSOCIATION, as Agent and Lender | ||||||
By: | /s/ Edwin D. Jenkins | |||||
Edwin D. Jenkins | ||||||
Senior Vice President | ||||||
COMERICA BANK | ||||||
By: | /s/ Heather D. Slapak | |||||
Heather D. Slapak | ||||||
Vice President | ||||||
NATIONAL CITY BANK OF KENTUCKY | ||||||
By: /s/ Jerry W. Johnston | ||||||
Name: | Jerry W. Johnston | |||||
Title: | Executive Vice President | |||||
BANK OF AMERICA, N.A. | ||||||
By: | /s/ Elizabeth Kurilecz | |||||
Elizabeth Kurilecz Managing Director | ||||||
BNP PARIBAS | ||||||
By: | /s/ Shawn March | |||||
Shawn March Director | ||||||
By: | /s/ Angela Arnold | |||||
Angela Arnold Director |
WASHINGTON MUTUAL BANK, FA | ||||
By: | /s/ Brad Johnson | |||
Brad Johnson Vice President | ||||
JPMORGAN CHASE BANK | ||||
By: | /s/ Cynthia E. Crites | |||
Cynthia E. Crites | ||||
Senior Vice President | ||||
SCOTIABANC, INC. | ||||
By /s/ Dana Maloney | ||||
Dana Maloney | ||||
Its | Managing Director | |||
SOCIETE GENERALE | ||||
By /s/ Eric E.O. Siebert, Jr. | ||||
Eric E.O. Siebert, Jr. | ||||
Its | Managing Director | |||
Schedule 1-1
Schedule 1-2
Schedule 1-3
Schedule 1-4
Schedule 1-5
Investor Code/Investor Description | Primary Location | |
ARGE — Argent Mortgage Company LLC | ARGE1 — Argent Mortgage Company | |
2550 Gulf Road | ||
East Tower 7th Floor | ||
Rolling Meadows IL | ||
AULS — Aurora Loan Services | AULS1 — Aurora Loan Services | |
2530 S. Parker Road | ||
Suite 600 | ||
Aurora CO 80014 | ||
CHBK — Charter Bank | CHBK1 — Charter Bank | |
5200 Eubank Blvd., NE | ||
Albuquerque NM 87111 | ||
CHFA — CALIFORNIA HOUSING FINANCE AGENCY | CHFA1 — CALIFORNIA HOUSING FINANCE AGENCY | |
1121 L STREET | ||
77th FLOOR | ||
SACRAMENTO CA 95814 | ||
CHMB — Chase Manhattan Bank USA, N.A. | CHMB1 — Chase Manhattan Bank USA, N.A. | |
c/o Chase Home Equity | ||
8934 Brecksville Rd. Suite 498 | ||
Brecksville OH 44113 | ||
CHMM — Chase Manhattan Mortgage Corp. | CHMM1 — Chase Manhattan Mortgage Corp. | |
10151 Deerwood Park Blvd. | ||
Building 300, 4th Floor | ||
Jacksonville FL 32256 | ||
CIIN — CITIMORTGAGE, INC. | CIIN1- CITIMORTGAGE, INC. | |
27555 Farmington Road | ||
Suite 300 |
Schedule 2-1
Investor Code/Investor Description | Primary Location | |
Farmington Hills MI 48334 | ||
COHF — Colorado Housing & Finance Authority | COHF1 — Colorado Housing & Finance Authority | |
Loan Purchase Department | ||
1981 Blake Street | ||
Denver CO 80202 | ||
COHL — Countrywide Home Loans, Inc. | COHL1 — Countrywide Home Loans, Inc. | |
8501 Fallbrook Avenue | ||
West Hills CA 91304 | ||
DEUT — Deutsche Bank | DEUT1 — Deutsche Bank | |
31 W. 52nd St. | ||
6th Floor, Room 28 | ||
New York, NY 10019 | ||
DHIM — DHI Mortgage Company, LTD. | DHIM1 — DHI Mortgage Company, LTD. | |
12357 Riata Trace Parkway | ||
Suite C150 | ||
Austin TX 78727 | ||
EMC — EMC Mortgage Corporation | EMC1 — EMC Mortgage Corporation | |
222 Las Colinas Blvd | ||
Suite 600 | ||
Irving TX 75039 | ||
EMPI — Empire Mortgage, Inc. | EMPI1 — Empire Mortgage, Inc. | |
11350 McCormick Road | ||
Executive Plaza III, Suite 502 | ||
Hunt Valley MD 21031 | ||
ENCC — Encore Credit Corporation | ENCC1 — Freemont Investment and Loan | |
FHMC — Federal Home Loan Mortgage Corp | FHMC1 — Federal Home Loan Mortgage | |
8100 Jones Branch Drive | ||
Mailstop B4D | ||
McLean VA 10022 | ||
FIBA — First Bank of Arizona | FIBA1 — First Bank of Arizona | |
17600 N Perimeter Drive | ||
Attn: Correspondent Lending | ||
Scottsdale AZ 85255 | ||
FIHH — First Horizon Home Loan Corporation | FIHH1 — First Horizon Home Loan Corporation | |
4000 Horizon Way |
Schedule 2-2
Investor Code/Investor Description | Primary Location | |
Mail Code 4700 | ||
Irving TX 75063 | ||
GHFA — Georgia Housing & Finance Authority | GHFA1 — Georgia Housing & Finance Authority | |
60 Executive Parkway South | ||
Suite 250 | ||
Atlanta GA 30329 | ||
GOLD — Goldman, Sachs & Co. | GOLD1 — Goldman, Sachs & Co. | |
GRMF — Greenpoint Mortgage Funding, Inc. | GRMF1 — Greenpoint Mortgage Funding, Inc. | |
1100 Larkspur Landing Circle Suite 101 | ||
Attn: Correspondent Lending Department | ||
Larkspur CA 94939 | ||
IMPA — IMPAC Funding Corp. | IMPA1 — IMPAC Funding Corp. | |
1401 Dove St | ||
Suite 100 | ||
Newport Beach CA 922660 | ||
INDY — IndyMac Bank | INDY1 — IndyMac Bank | |
7667 Folsom Blvd. | ||
Suite 101 | ||
Sacramento CA 95826 | ||
LEBB — LEHMAN BROTHERS BANK, FSB | LEBB1 — LEHMAN BROTHERS BANK, FSB | |
2530 SOUTH PARKER ROAD | ||
SUITE 601 | ||
AURORA CO 80014 | ||
MAFS — MATRIX FINANCIAL SERVICES CORP. | MAFS1 — Matrix Financial Services Corp | |
700 Corporate Park Drive | ||
St. Louis MO 63105 | ||
MSDW — Morgan Stanley Dean Witter | MSDW1 — Morgan Stanley Dean Witter | |
1585 Broadway | ||
New York NY 10036 | ||
NACM — National City Mortgage Co. | NACM1 — National City Mortgage Co. | |
LOC#06-671 | ||
116 Allegheny Center | ||
Pittsburgh PA 15212 |
Schedule 2-3
Investor Code/Investor Description | Primary Location | |
NCHA — North Caroline Housing Finance | NCHA1 — North Carolina Housing Finance | |
3508 Bush Street | ||
Raleigh NC 27609 | ||
NCMG — New Century Mortgage Corporation | NCMG1 — New Century Mortgage Corporation | |
Attn: Lisa Spaid | ||
1000 Plaza Drive, Suite 40 | ||
Schaumburg IL 60173 | ||
NOMI — Novastar Mortgage, Inc. | NOMI1 — Novastar Mortgage, Inc. | |
23046 Avenida De La Carlotta | ||
3rd Floor | ||
Laguna Hills CA 92653 | ||
OPFS — Opteum Financial Services, LLC | OPFS1 — Opteum Financial Services, LLC | |
27442 Portola Parkway | ||
Suite 250 | ||
Foothill Ranch CA 92610 | ||
OPOM — Option One Mortgage Corporation | OPOM1 — Option One Mortgage Corporation | |
3333 East CamelBack Road | ||
Suite 260 | ||
Phoenix AZ 85018 | ||
PIFC — Pinnacle Financial Corporation & Mortgage | PIFC1 — Pinnacle Financial Corporation & Mortgage Florida, LC | |
1500 Lee Road, Suite 200 | ||
Orlando FL 32810 | ||
PRRM — Principal Residential Mortgage, | PRRM1 — Principal Residential Mortgage, | |
699 Walnut Street | ||
Des Moines IA 50309 | ||
RBMG — Resource Bancshares Mortgage Group | RBMG1 — Resource Bancshares Mortgage Group, Inc. | |
7909 Parklane Road | ||
Columbia SC 29223 | ||
SOCS — South Carolina State Housing Finance | SOCS1 — South Carolina State Housing Finance | |
Loan Purchasing | ||
711 Bluff Road | ||
Columbia SC 29201 |
Schedule 2-4
Investor Code/Investor Description | Primary Location | |
SOFU — Southstar Funding | SOFU1 — Southstar Funding | |
400 Northridge Road | ||
Suite 1000 | ||
Atlanta GA 30350 | ||
UPMI — Union Planters Mortgage, Inc. | UPMI1 — Union Planters Mortgage, Inc. | |
215 Forrest Street | ||
Hattiesburg MS 39401 | ||
USBK — USBK | USBK1 — USBK | |
4801 Frederica St. | ||
Owensboro KY 42301 | ||
WAMC — Wachova Mortgage Corporation | WAMC1 — Wachovia Mortgage Corporation | |
Corr Lending | ||
One Jefferson Square | ||
Waterbury CT 06706 | ||
WAMU — Washington Mutual | WAMU1 — Washington Mutual | |
3333 N. Mayfair | ||
Milwaukee WI 53222 | ||
WEFB — Wells Fargo Bank West, N.A. | WEFB1 — Wells Fargo Bank West, N.A. | |
4455 Arrow West Drive | ||
Colorado Springs CO 80907` | ||
WEFH — Wells Fargo Bank, N.A. | WEFH1 — Wells Fargo Bank, N.A. | |
3200 Robbins Road | ||
Springfield IL 62704 | ||
WFHE — Wells Fargo Bank, N.A. | WFHE1 — Wells Fargo Bank, N.A. | |
16454 N. 28th Ave. | ||
MAC S3826-012 | ||
Phoenix AZ 85023 |
Schedule 2-5
Schedule 3-1
Schedule 4-1
Lender | Commitment | Percentage | ||
U.S. Bank National Association | ||||
JPMorgan Chase Bank | ||||
National City Bank of Kentucky | ||||
Bank of America | ||||
BNP Paribas | ||||
Comerica Bank | ||||
Scotiabanc | ||||
Societe Generale | ||||
Washington Mutual | ||||
Total | $670,000,000 | 100% |
Schedule 5-1
Lender | Commitment | Percentage | ||||||
U.S. Bank National Association | ||||||||
JPMorgan Chase Bank | ||||||||
National City Bank of Kentucky | ||||||||
Bank of America | ||||||||
BNP Paribas | ||||||||
Comerica Bank | ||||||||
Scotiabanc | ||||||||
Societe Generale | ||||||||
Washington Mutual | ||||||||
Total | $ | 540,000,000 | 100 | % |
Schedule 5-2
CREDIT AGREEMENT
$ | Minneapolis, Minnesota |
DHI MORTGAGE COMPANY, LTD., | ||||
(FORMERLY KNOWN AS CH MORTGAGE COMPANY I, LTD.) | ||||
By: DHI Mortgage Company GP, Inc., | ||||
(formerly known as CH Mortgage Company GP, Inc.), its General Partner | ||||
By | ||||
Its | ||||
CREDIT AGREEMENT
BORROWING/PAYDOWN/CONVERSION
as Agent
800 Nicollet Mall
Minneapolis, Minnesota 55402
Attention: Mortgage Banking Services Division BC-MN-HO3B
Prime Rate | LIBOR Rate | Balance Funded Rate | ||||
* | For purposes of this Certificate, Advances being converted shall be described as principal payments, and the new Advances into which such Advances are being converted shall be described as new Advances. |
Advance | $ | $ | $ | |||||||||
Payment | $ | $ | $ | |||||||||
Net Amount Outstanding | $ | $ | $ | |||||||||
Interest Rate | — | % | — | % | 0.750 | % |
Very truly yours, | ||||
DHI MORTGAGE COMPANY, LTD. | ||||
By | ||||
Its | ||||
CREDIT AGREEMENT
BORROWING BASE CERTIFICATE
800 Nicollet Mall
Minneapolis, Minnesota 55402
Attention: Mortgage Banking Services Division BC-MN-HO3B
(a) | Pledged Mortgage Loan | $ | ||||||
Conforming Mortgage Loans | $ | |||||||
Conforming Non-Agency Loans | $ | |||||||
Jumbo Mortgage Loans | $ | |||||||
Super Jumbo Mortgage Loans | $ | |||||||
Alt A Mortgage Loans | $ | |||||||
Subprime Mortgage Loans | $ | |||||||
HELOC Mortgage Loans | $ | |||||||
Second Lien Loans | $ | |||||||
Non-Owner Occupied Mortgage Loans | $ |
Aged Loans | $ | |||
Uncovered Mortgage Loans | $ | |||
Negatively Amortizing or Pay Option | $ | |||
ARM Mortgage Loans | ||||
Forty/Thirty Year Mortgage Loans | $ |
(b) | Pledged Mortgage Loans with No | |||
Collateral Value (i.e., not | ||||
Eligible Mortgage Loans) | $ |
– 121 days or more since
date of pledge; $ ___________
or more since date of pledge; $ ________
– 121 days or more since
date of pledge; $ ___________
since date of pledge; $ ________
since date of pledge; $ ________
since date of pledge $ ________
since date of pledge; $ ________
since date of pledge; $ ________
since date of pledge; $ ________
Pay Option ARM Mortgage Loans-91 days or more
since date of pledge; $ ________
(120/360 days for Aged Loans) | $ (less than121 | |||
days) | $ from 121 to | |||
360days) |
Collateral Document not returned (19 days) | $ | |||
In default (one full reporting period) | $ | |||
Requested documents not delivered | ||||
(5 Business Days) $___ |
not delivered (wet funding loans;
7 Business Days) $ _____
Wet funding loans in excess of sublimit | $ | |||
Wet funding loans not closed | $ |
of applicable sublimit $ _____
applicable sublimit $ _____
applicable sublimit $ _____________
applicable sublimit $ _____________
applicable sublimit $ _____________
applicable sublimit $ _____________
Mortgage Loans in excess of
applicable sublimit $ ____________
of Aged Loan Sublimit $ __________
of applicable sublimit $ ____________
Not marketable | $ |
Agent does not have perfected, first priority | ||||||||
security interest | $ | |||||||
Other ineligible | $ | |||||||
(c) | Eligible Mortgage Loans ((a) — (b)) | $ | ||||||
(d) | 2% of (c) (after deduction of Super Jumbo, Uncovered, and Aged Loans) | $ | ||||||
(e) | 5% of loans included in Aged Loan Sublimit and included in Borrowing Base 121 or more days | $ | ||||||
(f) | 3% of Loans included in Super Jumbo and Uncovered Mortgage Loan Sublimits | $ | ||||||
(g) | further deduction for loans shipped to investors for which purchase price not received within 45 days (para. (b) of Collateral Value) | $ | ||||||
(h) | further deduction for loans shipped to investors for which purchase price not received within 90 days (para. (b) of Collateral Value) | $ | ||||||
(i) | 100% of loans shipped to investors for which purchase price not received within 120 days | $ | ||||||
(j) | Total deductions from Eligible Loans (sum of (d) through (i)) | $ | ||||||
(j) | Total Collateral Value (Borrowing Base) ((c) minus (j)) | $ |
DHI MORTGAGE COMPANY, LTD. | ||||||
By | ||||||
Its | ||||||
Exhibit C-4
Credit Agreement
COMPLIANCE CERTIFICATE
800 Nicollet Mall
Minneapolis, Minnesota 55402
Attention: Mortgage Banking Services
Division BC-MN-HO3B
Financial Covenants | Required Compliance | Actual (or in | ||||||
1) | Tangible Net Worth (6.13) | $ | 100,000,000 | $ | ||||
2) | Tangible Net Worth Ratio (6.14) not more than12.0 to 1.0 | to 1.0 | ||||||
3) | Net Income (6.15) | not less than $1.00 | $ |
Exhibit D-1
(a) | The undersigned is the duly elected President, Chief Financial Officer or Controller of the General Partner of the Company. | |
(b) | The undersigned has reviewed the terms of the Credit Agreement and has made, or has caused to be made under the supervision of the undersigned, a detailed review of the transactions and conditions of the Company during the accounting period covered by this Certificate; and | |
(c) | These examinations did not disclose, and the undersigned has no knowledge, whether arising out of such examinations or otherwise, of the existence of any condition or event that constitutes an Event of Default or a Default during or at the end of the accounting period covered by this Certificate, except as described in a separate attachment to this Certificate, the exceptions listing, in detail, the nature of the condition or event, the period during which it has existed and the action that the Company has taken, is taking, or proposes to take with respect to each such condition or event. |
DHI MORTGAGE COMPANY, LTD. | ||||||
By | ||||||
Its | ||||||
Exhibit D-2
SECOND AMENDED AND RESTATED CREDIT AGREEMENT
JOINDER AGREEMENT
Exhibit E-1
Exhibit E-2
Exhibit E-3
Attention: | ||||
Telephone: (___) ___- _______________________ | ||||
Telecopier: (___) ___- _______________________ |
NEW CO-BORROWER: | [ | ] | ||||||
By: | ||||||||
Its: | ||||||||
Exhibit E-4
COMPANY: | DHI MORTGAGE COMPANY, LTD. | |||||||
By: | DHI Mortgage Company GP, Inc., | |||||||
Its: General Partner | ||||||||
By: | ||||||||
Its: | ||||||||
AGENT: | U.S. BANK NATIONAL ASSOCIATION, | |||||||
as Agent | ||||||||
By: | ||||||||
Its: | ||||||||
Exhibit E-5
TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT
Exhibit F-1
Exhibit F-2
Exhibit F-3
Exhibit F-4
Exhibit F-5
“Pay to the order of, | ||||||
, | ||||||
without recourse | ||||||
DHI MORTGAGE COMPANY, LTD. | ||||||
(or as listed on Attachment 6) | ||||||
By: | DHI MORTGAGE COMPANY GP, INC. | |||||
Its General Partner | ||||||
By | ||||||
Name | ||||||
Title | ||||||
Exhibit F-6
Exhibit F-7
Exhibit F-8
Exhibit F-9
Exhibit F-10
Exhibit F-11
Exhibit F-12
Exhibit F-13
Exhibit F-14
Exhibit F-15
Exhibit F-16
Exhibit F-17
Exhibit F-18
Exhibit F-19
Exhibit F-20
Exhibit F-21
DHI MORTGAGE COMPANY, LTD. | ||||||
By | ||||||
Its | ||||||
U. S. BANK NATIONAL ASSOCIATION, as Agent | ||||||
By | ||||||
Its | ||||||
AND SECURITY AGREEMENT
(Security Agreement as provided for
by the Uniform Commercial Code of New York)
[DHI MORTGAGE COMPANY, LTD.] [CO-BORROWER] | ||||||
By | ||||||
Its | ||||||
AND SECURITY AGREEMENT
(Security Agreement as provided for
by the Uniform Commercial Code of New York)
Mortgage Banking Services
800 Nicollet Mall – BC-MN-H03B
Minneapolis, MN 55402-7020
Attention:
[DHI MORTGAGE COMPANY, LTD.] [CO-BORROWER] | ||||||
By | ||||||
Its | ||||||
SECOND AMENDED AND RESTATED PLEDGE AGREEMENT
[NAME OF CUSTODIAN], as Custodian | {include if applicable | |
for [NAME OF INVESTOR] | ||
[ADDRESS OF CUSTODIAN] | ||
[NAME AND ADDRESS OF INVESTOR] | {include if no Custodian |
Re: | Mortgage Loan No(s). Seller:[DHI Mortgage Company, Ltd.] [Name of Co-Borrower] |
Receiving Bank: | U.S. Bank National Association | |||||
Address: | Minneapolis, Minnesota | |||||
ABA Number: | 091000022 | |||||
Account Name: | DHI Mortgage Company, Ltd. Funding and Settlement Account | |||||
Account | ||||||
Account Number: | 104756234365 |
Mortgage Banking Services Division
U.S. Bancorp Center –BC-MN-HO3B
800 Nicollet Mall
Minneapolis, Minnesota 55402
U.S. BANK NATIONAL ASSOCIATION, AS AGENT | ||||
BY | ||||
ITS | ||||
Receipt acknowledged: | ||
[ , | {include if no Custodian | |
as Investor |
By | ||||||||
Title | ||||||||
Date | ||||||||
[ , | {include if applicable | |
as Custodian |
By | ||||||||
Title | ||||||||
Date | ||||||||
Enclosures |
cc: | [NAME AND ADDRESS OF | {include if letter is addressed | ||
INVESTOR] | to Custodian |
Mortgage Loan Detail Listing
Loan Number | ||
Borrower First and Last Name | ||
Property Address | ||
City | ||
State | ||
Zipcode | ||
Product Type | FHA, VA, Conventional, HELOC | |
Property Type | Condo, Manufactured, Multifamily, PUD | |
Amortization Type: | ARM, Balloon, | |
Interest Rate | ||
Term | ||
Lien Position | First or Second | |
Note Date | ||
Note Amount | ||
Unpaid Principal Balance | Required for HELOCs | |
FICO Score | ||
Investor Name | ||
Investor Commitment Price | ||
Mers Identification Number | ||
Collateral Category Code | ||
Combined LTV | ||
LTV | ||
Occupancy Code | ||
Wire Transfer Information | ||
Receiving Bank Name | ||
ABA Number | ||
Dollar Amount of Wire | ||
Crediting Account Name | ||
Crediting Account Number | ||
Reference Information |
BORROWER’S NAME: | ||
LOAN #: | ||
LOAN TYPE: | ||
NOTE DATE: | ||
PRINCIPAL AMOUNT: | ||
INTEREST RATE: | ||
TERM: | ||
ORIGINAL NOTE – ENDORSED IN BLANK AND APPLICABLE ADDENDUMS |
CERTIFIED COPY OF THE BORROWER’S POWER OF ATTORNEY (IF APPLICABLE) |
CERTIFIED COPY OF THE DEED OF TRUST/MORTGAGE AND APPLICABLE RIDERS |
ORIGINAL EXECUTED ASSIGNMENT (IN BLANK) IN RECORDABLE FORM, IF NOT MERS REGISTERED |
TWO CERTIFIED COPIES OF EACH INTERVENING ASSIGNMENT (IF APPLICABLE) |
Regional Closing Center
Phone: (512) 502-0545 Fax: (512) 533-1569
Mortgage Banking Services
800 Nicollet Mall – BC-MN-H03B
Minneapolis, MN 55402-7020
Attention:
(612) 303-3565
SECOND AMENDED AND RESTATED PLEDGE AND SECURITY AGREEMENT
[DHI MORTGAGE COMPANY, LTD.] | ||||||
[CO-BORROWER] | ||||||
By | ||||||
Its | ||||||
Official name in various states
(BORROWER TO UPDATE)
StateName | StateID | Closing Doc Name | ||
Alabama | AL | DHI Mortgage Company, LTD. | ||
Arizona | AZ | DHI Mortgage Company, LTD., Limited Partnership | ||
California | CA | DHI Mortgage Company, LTD., L.P. | ||
Colorado | CO | DHI Mortgage Company, LTD. | ||
Florida | FL | DHI Mortgage Company, LTD. | ||
Georgia | GA | Awaiting final name notification | ||
Hawaii | HI | DHI Mortgage Company, LTD. | ||
Illinois | IL | DHI Mortgage Company, Ltd. | ||
Maryland | MD | DHI Mortgage Company, LTD. | ||
Minnesota | MN | DHI Mortgage Company Limited Partnership | ||
New Mexico | NM | DHI Mortgage Company, LTD. | ||
North Carolina | NC | DHI Mortgage Company, Limited Partnership | ||
Oregon | OR | DHI Mortgage Company, LTD., Limited Partnership | ||
South Carolina | SC | DHI Mortgage Company, LTD. | ||
Texas | TX | DHI Mortgage Company, LTD. | ||
Virginia | VA | Awaiting final name notification | ||
Wisconsin | WI | DHI Mortgage Company Limited Partnership |
Calyon New York Branch, Administrative Agent | Via Facsimile: (212) 459-3258 | |
1301 Avenue of the Americas | ||
17th Floor | ||
New York, NY 10014 |
Number of Loans: | Principal Balance:$ |
Bank: | U.S. Bank National Association | |
ABA: | 091000022 | |
Acct Name: | ||
Acct #: |
Very truly yours, | ||||
U. S. Bank National Association, as Agent | ||||
By: | ||||
Name: Kerry Koch | ||||
Title: Relationship Business Associate | ||||
Telephone: 612-303-3545 |
Credit Agreement
to Closing Agents for Wet Funded Loans
Credit Agreement
Effective Date: | [Date/Time] |
Pool | Pipeline | Amount | Basis | Lock | Value | Gain/Loss | Hedge Cost | Market | Gain/Loss |
Net Result = | Change in Value of Locks | Change in Value of Securities |
Applications | Locked loans | Locked Account Portfolio | ||||||||
Lock Ratio | Best Effort % | Mandatory % | FMV Best Efforts |
Mandatory/Hedged Portfolio | At Risk Portfolio |
Date | Pipeline | FMV Change | MBS FMV Change | Net$$Net % Coverage Effective | Locked | Closed |
Market Price Basis: (date) | Market Value Analysis | ||||||||||||||||
Product Description | Count | Total Balance | Risk Weight | Book | Lock Price | Market | % Change | $Change |
Security Type | Balance | Risk Factor | Risk Weight | Book Price | Market Price | % Change | $Change |