Item 1.01 Entry into a Material Definitive Agreement.
On October 10, 2022, loanDepot.com, LLC, a Delaware limited liability company
and an indirect subsidiary of loanDepot, Inc. (the "Company"), as seller,
entered into Amendment No. 10 ("Amendment No. 10") to the Mortgage Loan
Participation Sale Agreement, dated as of August 15, 2016 (as amended, restated,
supplemented, or otherwise modified from time to time, the "MLPSA") with JP
Morgan Chase Bank, National Association ("JP Morgan"), as purchaser, pursuant to
which the Company may sell to JP Morgan participation interests in certain
designated pools of fully amortizing first lien residential mortgage loans
eligible to back securities and, at a later date, cause such mortgage loans to
back a security issued by the Company, which will be delivered to JP Morgan in
exchange for the related participation certificate. Along with certain technical
changes, the primary purposes of Amendment No. 10 is to extend the termination
date to November 11, 2022.
The foregoing description of Amendment No. 10 is not complete and is qualified
in its entirety by reference to the full text of Amendment No. 10, a copy of
which is attached hereto as Exhibit 10.1 and is incorporated herein by
reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
10.1 A mendment No. 10 to the Mortgage Loan Participation Sale Agreement ,
dated October 10 , 2022, by and between loanDepot.com, LLC and
JPMorgan Chase Bank, N. A.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
© Edgar Online, source Glimpses