ORIGINATION ASSISTANCE AGREEMENT
THIS ORIGINATION ASSISTANCE AGREEMENT (“Origination Agreement” or “Agreement”) effective as of January 2, 2001 (“Effective Date”), is entered into by and between Merrill Lynch Credit Corporation, a Delaware corporation with its principal place of business at 4802 Deer Lake Drive East, Jacksonville, Florida 32246-6484 (“MLCC”), and Cendant Mortgage Corporation d/b/a PHH Mortgage Services, a New Jersey corporation with its principal place of business at 3000 Leadenhall Road, Mt. Laurel, New Jersey 08054 (“PHH”) (each, individually, a “Party,” collectively, the “Parties”).
W I T N E S S E T H:
WHEREAS, MLCC is in the business of originating residential Mortgage Loans (as defined herein);
WHEREAS, PHH is in the business of originating Mortgage Loans and providing certain origination and processing services to other mortgage lenders and desires to provide those services to MLCC as more particularly set forth in this Agreement;
WHEREAS, MLCC and PHH are parties to a Mortgage Loan Purchase and Services Agreement dated as of September 24, 1997, as thereafter amended (the “Initial Purchase and Servicing Agreement”), pursuant to which PHH provided certain origination services to MLCC; and
WHEREAS, PHH and MLCC are parties to a Termination Agreement, dated as of the date hereof, which agreement shall terminate the existing origination agreement between PHH and MLCC, as and to the extent provided in the Termination Agreement, and each of MLCC and PHH desires to establish a new agreement relating to origination services;