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                                                                    EXHIBIT 4.31

                         COMMON SECURITY CERTIFICATE

      THIS COMMON SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED, OR ANY STATE SECURITIES LAWS OR ANY OTHER APPLICABLE
SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED
EXCEPT PURSUANT TO AN EXEMPTION FROM REGISTRATION. THIS CERTIFICATE IS NOT
TRANSFERABLE EXCEPT IN COMPLIANCE WITH APPLICABLE LAW AND SECTION 5.11 OF THE
TRUST AGREEMENT.


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CERTIFICATE NUMBER C-1                                     464 COMMON SECURITIES




                    CERTIFICATE EVIDENCING COMMON SECURITIES

                                       OF

                              HFC CAPITAL TRUST IV

                         FLOATING RATE COMMON SECURITIES

                 (LIQUIDATION AMOUNT $1,000 PER COMMON SECURITY)

      HFC Capital Trust IV, a statutory trust created under the laws of the
State of Delaware (the "Trust"), hereby certifies that Hawthorne Financial
Corporation, a Delaware corporation (the "Holder") is the registered owner of
464 common securities of the Trust representing undivided common beneficial
interests in the assets of the Trust and designated the HFC Capital Trust IV
Floating Rate Common Securities (liquidation amount $1,000 per Common Security)
(the "Common Securities"). Except in accordance with Section 5.11 of the Trust
Agreement (as defined below), the Common Securities are not transferable and, to
the fullest extent permitted by law, any attempted transfer hereof other than in
accordance therewith shall be void. The designations, rights, privileges,
restrictions, preferences and other terms and provisions of the Common
Securities are set forth in, and this certificate and the Common Securities
represented hereby are issued and shall in all respects be subject to the terms
and provisions of, the Amended and Restated Trust Agreement of the Trust, dated
as of November 1, 2002 as the same may be amended from time to time (the "Trust
Agreement"), among Hawthorne Financial Corporation, as Depositor, The Bank of
New York, as Property Trustee, The Bank of New York (Delaware), as Delaware
Trustee, the Administrative Trustees named therein and the Holders, from time to
time, of Trust Securities. The Trust will furnish a copy of the Trust Agreement
to the Holder without charge upon written request to the Trust at its principal
place of business or registered office.

      Upon receipt of this certificate, the Holder is bound by the Trust
Agreement and is entitled to the benefits thereunder.

      This Common Securities Certificate shall be governed by and construed in
accordance with the laws of the State of Delaware.

      Terms used but not defined herein have the meanings set forth in the Trust
Agreement.


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      IN WITNESS WHEREOF, one of the Administrative Trustees of the Trust has
executed on behalf of the Trust this certificate this ____ day of ____________,
2002.



                                    [COMPANY] CAPITAL TRUST I



                                    By:_________________________________
                                       Name:
                                       Title: