EXHIBIT 10.18a
August 5, 1997
Mr. Xxxx Xxxxxxx
Home, Inc.
0000 Xxxxxx Xxxxxx Xxxx.
Xxxxxx, XX 00000
Subject: Master Agreement Number: MD01724
Amendment: FIRST
Pool Purchase Contract Number: D03070
Lender Number: 00000-000-0
Dear Xx. Xxxxxxx:
By execution of this Letter Agreement, the Federal National Mortgage Association
("Xxxxxx Mae") and Home, Inc. (the "Lender") agree to amend the above-referenced
Master Agreement and Contract (if applicable). The amended terms and conditions
are set forth in the amended pages to the Master Agreement and (if applicable)
the Contract attached to this Letter Agreement. The attachments should be
inserted into the Lender's Master Agreement binder as described below.
Capitalized terms used but not defined in this Letter Agreement, shall have the
meanings set forth in the Master Agreement.
The amended terms and conditions are set forth below. If applicable, the Lender
and Xxxxxx Xxx shall rely also on any attached pages for a complete description
of the amended terms and conditions.
The amended terms and conditions:
1. AMENDED TERM: add the ability to deliver seasoned Title 1 mortgages under
Pool Purchase Contract Number D03070.
INSTRUCTIONS: (1) Under the "Fixed-Rate" tab, replace page FRM-2 with the
enclosed page FRM-2.
(2) All replaced pages, along with this letter, should be
inserted under the "Amendment History" tab.
By execution of this Letter Agreement, Xxxxxx Mae and the Lender agree to and
accept the amended terms and conditions as set forth in the attachments to this
Letter Agreement. The effective date of the amendments is the date of execution
of this Letter Agreement by the Lender. The Lender shall return a duly-executed
duplicate original of this Letter Agreement to Xxxxxx Xxx within ten business
days of the date this Letter Agreement is executed by Xxxxxx Mae. If Xxxxxx Xxx
does not receive an executed duplicate original of this Letter Agreement from
the Lender within ten business days, Xxxxxx Mae may, at its option, declare this
Letter Agreement null and void.
Sincerely,
XXXXXX XXX
By: /s/ Xxxxxx Xxxxxxx
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(Authorized Signature)
Name: Xxxxxx Xxxxxxx, Regional Vice President
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(Name and Title)
Agreed, acknowledged and accepted this 5th day of August, 1997.
HOME, INC.
By: /s/ Xxxx Xxxxxxx
-------------------------------------------------
(Authorized Signature)
Name: Xxxx Xxxxxxx, C.E.O.
-------------------------------------------------
(Name and Title)
Page 0
Xxxxxx Xx. XX00000 - Amd. No. 1
CONTRACT NO.: D03070
FHA TITLE I FIXED-RATE MORTGAGE POOL PURCHASE CONTRACT
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Lender: HOME, INC. Lender Number: 00000-000-0
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For a complete set of the terms of this transaction, this Pool Purchase Contract
between Xxxxxx Mae and the Lender must be read in conjunction with the Master
Agreement No. MD01724.
Date of Contract: __________(Date executed by Lender)
Total Amount of Pool Purchase
Transactions for OPTIONAL Delivery: $50,000,000.00 plus or minus 5%
Eligible Products: 3- TO 20-YEAR FIXED-RATE LEVEL-PAYMENT MORTGAGES
Guaranty Fee: 50 BASIS POINTS
Latest Issue Date for Pools formed
under this Contract: DECEMBER 1, 1997
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Servicing Option: SPECIAL
Buyup/Buydown Ratios: GRID 3
Mortgage Type: FHA
Remittance Cycle: STANDARD
Seasoning Requirements: CURRENT/SEASONED
Special Feature Codes: 001 AND 089
FOR SUBORDINATE MORTGAGES, 015 MUST
ALSO BE USED
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Foreclosure Loss Risk Code: M
Additional Terms: Except as modified by this Contract, all FHA Title I
Mortgages must conform to the requirements of the Selling Guide and Servicing
Guide as amended by Xxxxxx Xxx Announcement 96-03. Additional terms and
representations are attached.
Xxxxxx Xx. XX00000 - Amd. No. 1
FRM - 2
