Item 1.01. Entry into a Material Definitive Agreement.

Effective February 21, 2020, DHI Mortgage Company, Ltd., a Texas limited partnership ("DHI Mortgage" or the "Seller"), and a subsidiary of D.R. Horton, Inc., a Delaware corporation, U.S. Bank National Association, a national banking association, as a buyer, and as administrative agent, ("U.S. Bank" or "Buyer" or "Administrative Agent") and other buyers listed as a buyer (collectively, the "Buyers") hereto entered into the Ninth Amendment to the Second Amended and Restated Master Repurchase Agreement (the "Ninth Amendment"). The Seller, the Buyers, and the Administrative Agent are parties to a Second Amended and Restated Master Repurchase Agreement dated as of February 27, 2015, a First Amendment to Second Amended and Restated Master Repurchase Agreement dated as of February 26, 2016, a Second Amendment to Second Amended and Restated Master Repurchase Agreement dated as of June 24, 2016, a Third Amendment to Second Amended and Restated Master Repurchase Agreement dated as of September 23, 2016, a Fourth Amendment to Second Amended and Restated Master Repurchase Agreement dated as of February 24, 2017, a Fifth Amendment to Second Amended and Restated Master Repurchase Agreement dated as of February 23, 2018, a Sixth Amendment to Second Amended and Restated Master Repurchase Agreement dated as of February 22, 2019, a Seventh Amendment to Second Amended and Restated Master Repurchase Agreement dated as of March 26, 2019, and an Eighth Amendment to Second Amended and Restated Master Repurchase Agreement dated as of June 21, 2019 (as amended, restated, or otherwise modified from time to time, collectively, the "Amended Repurchase Facility").

The Amended Repurchase Facility provides financing and liquidity to DHI Mortgage by facilitating purchase transactions in which DHI Mortgage transfers eligible loans to Buyers against the transfer of funds by Buyers (thereby becoming purchased loans). The purchase transactions are based on the terms and conditions in the Amended Repurchase Facility and the ancillary or operative agreements attached thereto or referred to therein, including the Amended and Restated Custody Agreement, dated March 1, 2013, by and between DHI Mortgage and U.S. Bank.

The Ninth Amendment increases the maximum aggregate commitment amount to $1.2 billion, with an increase to $1.4 billion for approximately 30 days at the end of the Seller's first, second and third fiscal quarters and 45 days at the end of the Seller's fourth fiscal quarter. In addition, the accordion feature under the Amended Repurchase Facility was increased to allow for a maximum aggregate commitment amount of $1.5 billion, based on the Administrative Agent obtaining increased committed sums from existing Buyers or through the addition of new buyers. Amounts outstanding under the Amended Repurchase Facility are not guaranteed by D.R. Horton, Inc. or any of its subsidiaries that guarantee homebuilding debt.

The Ninth Amendment changes the term of the Amended Repurchase Facility through the earlier of (i) February 19, 2021, or (ii) the date when the Buyers' commitments are terminated pursuant to the Amended Repurchase Facility, by order of any governmental authority or by operation of law, and reduces the LIBOR Margin.

The Ninth Amendment is filed herewith as Exhibit 10.1 and is incorporated by reference into this Item 1.01.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth above under Item 1.01. "Entry into a Material Definitive Agreement" is hereby incorporated by reference into this Item 2.03.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibit





10.1        Ninth Amendment to Second Amended and Restated Master Repurchase
          Agreement, dated February 21, 2020, among DHI Mortgage Company, Ltd.,
          U.S. Bank National Association, as Administrative Agent, Sole Book
          Runner, Lead Arranger, and a Buyer, and all other Buyers.



                                       2

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses