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EXHIBIT 10.33(c)

AMENDMENT NUMBER TWO
to the
Warehouse Loan and Security Agreement
dated as of February 10, 2000,
as Amended and Restated to and including January 24, 2001
Among
AAMES CAPITAL CORPORATION,
AAMES FUNDING CORPORATION
and
GREENWICH CAPITAL FINANCIAL PRODUCTS, INC.

    This AMENDMENT NUMBER TWO (this "Amendment") is made this 30th day of March,
2001, among AAMES CAPITAL CORPORATION, AAMES FUNDING CORPORATION (each, a
"Borrower" and collectively, the "Borrowers") and GREENWICH CAPITAL FINANCIAL
PRODUCTS, INC. ("Lender") to the WAREHOUSE LOAN AND SECURITY AGREEMENT, dated as
of February 10, 2000, as Amended and Restated to and including January 24, 2001
between Lender and Borrowers (the "Loan Agreement").

RECITALS

    WHEREAS, Borrowers have requested that Lender agree to the amendments to the
Loan Agreement as set forth herein; and

    WHEREAS, Lender has consented to such amendments to the Loan Agreement as
set forth herein.

    NOW THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and of the mutual covenants herein
contained, the parties hereto hereby agree as follows:

    SECTION 1. Effective as of March 30, 2001, the definition of "Tangible Net
Worth" in Section 1.01 of the Loan Agreement is hereby deleted in its entirety
and replaced with the following:

"Tangible Net Worth" shall mean, with respect to any Person, as of any date of
determination, the consolidated Net Worth of such Person and its Subsidiaries,
less the consolidated net book value of all assets of such Person and its
Subsidiaries (to the extent reflected as an asset in the balance sheet of such
Person or any Subsidiary at such date) which will be treated as intangibles
under GAAP; provided, that residual securities issued by such Person or its
Subsidiaries shall not be treated as intangibles for purposes of this
definition.

    SECTION 2. Fees and Expenses. Borrowers agree to pay to Lender all fees and
out of pocket expenses incurred by Lender in connection with this Amendment
(including all reasonable fees and out of pocket costs and expenses of the
Lender's legal counsel incurred in connection with this Amendment Number Two),
in accordance with Section 10.03 of the Loan Agreement

    SECTION 3. Defined Terms. Any terms capitalized but not otherwise defined
herein shall have the respective meanings set forth in the Loan Agreement.

    SECTION 4. Representations. In order to induce the Lender to execute and
deliver this Amendment Number Two, the Borrowers hereby represent to the Lender
that as of the date hereof, after giving effect to this Amendment Number Two,
the Borrowers are in full compliance with all of the terms and conditions of the
Loan Agreement.

    SECTION 5. Limited Effect. Except as expressly amended and modified by this
Amendment, the Loan Agreement shall continue in full force and effect in
accordance with its terms. Reference to this Amendment Number Two need not be
made in the Loan Agreement or any other instrument or

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document executed in connection therewith, or in any certificate, letter or
communication issued or made pursuant to, or with respect to, the Loan
Agreement, any reference in any of such items to the Loan Agreement being
sufficient to refer to the Loan Agreement as amended hereby.

    SECTION 6. Governing Law. THIS AMENDMENT NUMBER TWO SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS,
AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
SUCH LAWS WITHOUT REGARD TO CONFLICT OF LAWS DOCTRINE APPLIED IN SUCH STATE.

    SECTION 7. Counterparts. This Amendment Number Two may be executed by each
of the parties hereto on any number of separate counterparts, each of which
shall be an original and all of which taken together shall constitute one and
the same instrument.

[SIGNATURE PAGE FOLLOWS]

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    IN WITNESS WHEREOF, Borrowers and Lender have caused this Amendment Number
Two to be executed and delivered by their duly authorized officers as of the day
and year first above written.

    AAMES CAPITAL CORPORATION         Borrower
 
 
By:

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Name: John Kohler
Title: Executive Vice President
 
 
AAMES FUNDING CORPORATION         Borrower
 
 
By:

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Name: John Kohler
Title: Executive Vice President
 
 
GREENWICH CAPITAL FINANCIAL PRODUCTS, INC.,         Lender
 
 
By:
       

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Name:  

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Title:  

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Acknowledged and Agreed:

AAMES FINANCIAL CORPORATION

By:

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Name:  John Kohler
Title:  Executive Vice President

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EXHIBIT 10.33(c)
AMENDMENT NUMBER TWO to the Warehouse Loan and Security Agreement dated as of
February 10, 2000, as Amended and Restated to and including January 24, 2001
Among AAMES CAPITAL CORPORATION, AAMES FUNDING CORPORATION and GREENWICH CAPITAL
FINANCIAL PRODUCTS, INC.
RECITALS