ASSET PURCHASE AGREEMENT between OCWEN LOAN …

Execution Copy

ASSET PURCHASE AGREEMENT between

OCWEN LOAN SERVICING, LLC and

RESIDENTIAL CAPITAL, LLC, RESIDENTIAL FUNDING COMPANY, LLC,

GMAC MORTGAGE, LLC, EXECUTIVE TRUSTEE SERVICES, LLC,

ETS OF WASHINGTON, INC., EPRE LLC,

GMACM BORROWER LLC and

RFC BORROWER LLC dated as of

November 2, 2012

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?1?544,+- !]A? 1212020121113000000000161

Table of Contents

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ARTICLE I

DEFINITIONS AND INTERPRETATION .................................................... 1

Section 1.1 Section 1.2

Definitions............................................................................................ 1 Interpretation...................................................................................... 29

ARTICLE II PURCHASE AND SALE OF ASSETS ........................................................ 30

Section 2.1 Section 2.2 Section 2.3 Section 2.4 Section 2.5 Section 2.6 Section 2.7 Section 2.8 Section 2.9 Section 2.10 Section 2.11 Section 2.12 Section 2.13 Section 2.14 Section 2.15 Section 2.16 Section 2.17

Purchase and Sale of Assets............................................................... 30 Assignment of Contracts, Leases and Other Assets........................... 32 Excluded Assets ................................................................................. 33 Post-Closing Asset Deliveries............................................................ 35 Conveyance of Assets by Affiliate Sellers......................................... 36 Non-Assignable Purchased Assets; Necessary Consents .................. 36 Assumption of Certain Liabilities ...................................................... 37 Retained Liabilities ............................................................................ 37 Closing ............................................................................................... 37 Ancillary Agreements ........................................................................ 37 Deliveries by Purchaser ..................................................................... 38 Deliveries by Sellers .......................................................................... 39 Consumer Privacy Matters................................................................. 39 "As Is, Where Is" Transaction ........................................................... 39 Exclusion of Certain Agreements ...................................................... 40 [RESERVED] ................................................................................... 40 Indemnity Escrow Agreement ........................................................... 40

ARTICLE III PURCHASE PRICE; ADJUSTMENT; ALLOCATION .............................. 41

Section 3.1 Section 3.2 Section 3.3 Section 3.4

Purchase Price; Payment of Purchase Price....................................... 41 Purchase Price Adjustment; Final Payment ....................................... 41 Allocation of the Purchase Price for Tax Purposes ........................... 43 Deposit ............................................................................................... 43

ARTICLE IV REPRESENTATIONS AND WARRANTIES OF SELLERS...................... 44

Section 4.1 Section 4.2 Section 4.3 Section 4.4 Section 4.5 Section 4.6 Section 4.7 Section 4.8 Section 4.9

Section 4.10 Section 4.11

Organization and Authority ............................................................... 44 Non-Contravention ............................................................................ 44 Consents and Approvals .................................................................... 45 Financial Statements .......................................................................... 45 Absence of Certain Changes or Events.............................................. 46 Title to Assets .................................................................................... 46 Purchased Assets Used in Business ................................................... 46 Real Property Leases.......................................................................... 46 Mortgage Servicing Portfolio; Servicing Agreements; the Business ............................................................................................. 47 Material Contracts.............................................................................. 49 Compliance with Law, Licensing and Data Security......................... 49

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Section 4.12 Section 4.13 Section 4.14 Section 4.15 Section 4.16 Section 4.17 Section 4.18 Section 4.19

Employee Benefits ............................................................................. 50 Employees.......................................................................................... 50 Litigation and Claims......................................................................... 51 Intellectual Property........................................................................... 51 Brokers, Finders and Financial Advisors........................................... 53 Ginnie Mae Loans.............................................................................. 53 Tax Matters ........................................................................................ 54 Shared Services Agreement ............................................................... 55

ARTICLE V REPRESENTATIONS AND WARRANTIES OF PURCHASER............... 55

Section 5.1 Section 5.2 Section 5.3 Section 5.4 Section 5.5 Section 5.6

Organization and Authority ............................................................... 55 Non-Contravention ............................................................................ 55 Consents and Approvals .................................................................... 56 Financing............................................................................................ 56 Non-reliance....................................................................................... 56 Brokers, Finders and Financial Advisors........................................... 57

ARTICLE VI PRE-CLOSING MATTERS AND OTHER COVENANTS......................... 57

Section 6.1 Section 6.2 Section 6.3 Section 6.4 Section 6.5 Section 6.6 Section 6.7 Section 6.8 Section 6.9 Section 6.10 Section 6.11 Section 6.12 Section 6.13 Section 6.14 Section 6.15 Section 6.16 Section 6.17 Section 6.18 Section 6.19 Section 6.20 Section 6.21 Section 6.22 Section 6.23 Section 6.24

Section 6.25 Section 6.26

Subsequent Actions; Further Assurances........................................... 57 Third Party Consents.......................................................................... 57 Access to Information; Interim Financial Information ...................... 58 Records; Post-Closing Access to Information ................................... 58 Interim Operations of the Business.................................................... 59 Servicing Approvals and Licenses..................................................... 64 Employee Matters .............................................................................. 64 Notices of Certain Events .................................................................. 67 Tax Matters ........................................................................................ 68 Insurance ............................................................................................ 68 Mortgage Loan Schedules and Servicing Advance Schedules .......... 69 Title Documents and Surveys ............................................................ 69 Schedules and Disclosure Memorandum........................................... 69 Bankruptcy Actions ........................................................................... 70 Participation of Walter Entity ............................................................ 71 Consent Order and DOJ/AG Settlement ............................................ 71 Antitrust Clearances and Obligations ................................................ 71 Post-Closing Amounts Received and Paid ........................................ 73 Confidentiality ................................................................................... 73 Real Property Matters and Transition Services ................................. 75 Required Financial Information ......................................................... 75 PSA Amendments .............................................................................. 76 Mortgage Loans Documents .............................................................. 76 Preparation for Transfer of Certain Purchased Mortgage Servicing ............................................................................................ 76 Purchaser Payment Cap ..................................................................... 76 DIP Financing Agreements................................................................ 77

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Section 6.27 Section 6.28 Section 6.29 Section 6.30

[RESERVED] .................................................................................... 77 Separation Services ............................................................................ 77 Repurchase ......................................................................................... 77 Rebranding......................................................................................... 77

ARTICLE VII BANKRUPTCY COURT MATTERS .......................................................... 78

Section 7.1 Section 7.2

Competing Transaction ...................................................................... 78 Bankruptcy Court Filings................................................................... 78

ARTICLE VIII CONDITIONS ............................................................................................... 79

Section 8.1 Section 8.2 Section 8.3

Conditions to Obligations of Purchaser and Sellers .......................... 79 Conditions to Obligations of Sellers .................................................. 80 Conditions to Obligations of Purchaser ............................................. 80

ARTICLE IX TRANSFER OF SERVICING....................................................................... 82

Section 9.1 Section 9.2

Transfer of Purchased Mortgage Servicing and MSRs...................... 82 Costs of Transfer................................................................................ 82

ARTICLE X TERMINATION AND SURVIVAL............................................................. 83

Section 10.1 Section 10.2

Termination........................................................................................ 83 Procedure and Effect of Termination................................................. 85

ARTICLE XI INDEMNIFICATION.................................................................................... 85

Section 11.1 Section 11.2 Section 11.3 Section 11.4 Section 11.5 Section 11.6 Section 11.7

Indemnification by Sellers ................................................................. 85 Notice of Claims ................................................................................ 86 Third Person Claims .......................................................................... 87 Claims Against the Indemnity Escrowed Funds ................................ 88 Adjustment to Purchase Price ............................................................ 88 Survival .............................................................................................. 88 Exclusive Remedy ............................................................................. 88

ARTICLE XII MISCELLANEOUS ...................................................................................... 89

Section 12.1 Section 12.2 Section 12.3 Section 12.4 Section 12.5 Section 12.6

Section 12.7 Section 12.8 Section 12.9 Section 12.10 Section 12.11

Section 12.12

Expenses ............................................................................................ 89 Amendment; Waiver .......................................................................... 89 Notices ............................................................................................... 89 Waivers .............................................................................................. 90 Counterparts ....................................................................................... 91 Applicable Law; WAIVER OF JURY TRIAL; Venue and Retention of Jurisdiction .................................................................... 91 Assignment ........................................................................................ 91 No Third-Party Beneficiaries............................................................. 92 Public Announcements ...................................................................... 92 Severability ........................................................................................ 92 Matters Related to Purchaser as Next Highest Bidder; Specific Performance ....................................................................................... 92 Waiver of Bulk Transfer Laws .......................................................... 93

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Section 12.13 Section 12.14

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Personal Liability ............................................................................... 93 Entire Agreement ............................................................................... 93

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