Andrew BonSalle Senior Vice President, Capital Markets Washington, DC 20016 andrew_bonsalle@fanniemae.comCommitted Purchase Facility for Early Funding • December 22nd, 2010 • PHH Corp • Miscellaneous business credit institution • District of Columbia
This letter agreement (this “Letter Agreement”) sets forth the agreement between Fannie Mae and PHH Mortgage Corporation (“PHH”) regarding Fannie Mae’s commitment to accept delivery and to purchase mortgage loans and pools of mortgage loans from PHH pursuant to the Early Funding Agreements (as defined in that certain Pricing Terms Letter between Fannie Mae and PHH, dated as of the date hereof (the “Pricing Terms Letter”)), at any time during the term of this Letter Agreement, with an aggregate unpaid principal balance, at any one time and from time to time, of up to $1 billion.
