01—Abstract
Summary
Summary of the 8-K filed August 14, 2025. Cited figures are marked; the original filing is the authoritative source.
On August 13, 2025, Pulte Mortgage LLC, a wholly-owned subsidiary of PulteGroup, Inc., entered into a Third Amendment to its Master Repurchase Agreement, originally dated August 16, 2023, with JPMorgan Chase, as Agent and as a Buyer, along with other Buyers.
The repurchase facility finances the origination of mortgage loans by Pulte Mortgage. The Amendment extends the term of the agreement to the earlier of August 12, 2026, or the date the Agent's commitments terminate under the agreement, by governmental order, or by operation of law. The Amendment sets a maximum aggregate commitment of $625 milliona, subject to certain sublimits.
An accordion feature in the agreement could raise that commitment to $675 millionb if the Agent obtains increased committed sums from existing Buyers. The filing states the commitment is initially set at $625 million and remains so until expiration.
The filing is limited to this financing amendment. It is disclosed under Item 1.01 (Entry into a Material Definitive Agreement) and Item 2.03 (Creation of a Direct Financial Obligation), with the full Third Omnibus Amendment filed as Exhibit 10.1.
02—Key points
Key Highlights
- Pulte Mortgage LLC, a wholly-owned PulteGroup subsidiary, entered into a Third Amendment to its Master Repurchase Agreement with JPMorgan Chase as Agent on August 13, 2025.
- The repurchase facility is used to finance mortgage loan originations by Pulte Mortgage.
- The amendment extends the agreement's term to the earlier of August 12, 2026, or an earlier termination event.
- The maximum aggregate commitment is $625 million, subject to certain sublimits.
- An accordion feature could increase the maximum aggregate commitment to $675 million if existing Buyers provide increased committed sums.
- The filing reports the obligation under Item 2.03, Creation of a Direct Financial Obligation.
03—Questions
Frequently Asked Questions
What agreement did PulteGroup's subsidiary amend?
Pulte Mortgage LLC entered into a Third Amendment, referred to as the Third Omnibus Amendment, to its Master Repurchase Agreement dated as of August 16, 2023, with JPMorgan Chase as Agent and the other Buyers listed in the agreement.
What is the purpose of the repurchase agreement?
The agreement finances the origination of mortgage loans by Pulte Mortgage.
How much financing capacity does the amended facility provide?
The amendment sets a maximum aggregate commitment of $625 million, subject to certain sublimits. An accordion feature could increase it to $675 million if the Agent obtains increased committed sums from existing Buyers.
When does the amended agreement expire?
The term extends to the earlier of August 12, 2026, or the date the Agent's commitments are terminated under the agreement, by order of any governmental authority, or by operation of law.
04—Continue