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                                                                   Exhibit 10.15

                              EMPLOYMENT AGREEMENT

     THIS TOTALLY RESTATED AND AMENDED EMPLOYMENT AGREEMENT (the "Agreement") is
made and entered effective as of January 1, 2003 by and between Vestin Mortgage,
Inc., a Nevada corporation (the "Corporation"), and Daniel Stubbs (the
"Executive") with reference to the following facts:

                                  WITNESSETH:

     WHEREAS, the Corporation desires to enter into an employment agreement with
Executive; and

     WHEREAS, the Corporation desires to enter into this Agreement in order to
retain the services of the Executive and to maximize the period of his continued
availability; and

     WHEREAS, the Corporation desires to enter into the Agreement with Executive
as is more fully set forth herein.

     NOW, THEREFORE, on the basis of the foregoing facts and in consideration of
the mutual covenants and agreements contained herein, the parties hereto agree
as follows:

     1.   Employment. The Corporation hereby agrees to, and does hereby, employ
the Executive and Executive hereby accepts employment with the Corporation on
the terms and conditions set forth in this Agreement (the "Agreement").

     2.   Term. The term of this Agreement shall commence on January 1, 2003,
and shall continue for a period of five (5) years until December 31, 2008 (the
"Term"). After the initial five (5) year Term, this Agreement shall continue for
successive one (1) year periods unless either party hereto shall notify the
other in writing at least thirty (30) days prior to the end of the Term of their
intention of not renewing the same.

     3.   Duties and Services.

          a.   The Corporation and the Executive hereby agree that, subject to
               the provisions of this Agreement, the Corporation will employ the
               Executive and the Executive will serve the Corporation as deemed
               necessary during the Term.

          b.   Executive agrees during the term of this Agreement not to usurp a
               corporate opportunity for his own financial gain. A corporate
               opportunity shall be defined as a business opportunity which the
               Corporation is financially able to undertake, is, from its
               nature, in the line of the


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               Corporation's business and is one in which the Corporation has an
               interest or a reasonable expectancy. Executive agrees that he
               shall offer a corporate opportunity to the Corporation. The
               Corporation shall have ten (10) days to either take the
               opportunity for itself or to reject the opportunity in which case
               Executive shall have the right to pursue such opportunity for
               himself. Failure to notify Executive within such ten (10) day
               period shall be deemed a rejection of the opportunity by the
               Corporation.

     4.   Compensation.

          a.   As salary during the Term, the Corporation shall pay the
               Executive, in accordance with its normal payroll, a minimum
               annual salary of One Hundred and Twenty One Thousand and Eight
               Hundred Dollars ($121,800) such salary to be paid no less than
               semi-monthly during the Term. The Executive shall receive such
               additional salary as the Board of Directors of the Corporation
               may from time to time determine during the Term. Unless expressly
               agreed in writing by the parties hereto, no such additional
               compensation or benefits shall be deemed to modify or otherwise
               affect the terms or conditions of this Agreement. Notwithstanding
               the foregoing if Executive is terminated other than for Cause
               Executive shall be entitled to the lesser of six (6) months
               salary or the salary due for the remaining Term of this Agreement
               as severance as Executive's sole and exclusive rights pursuant to
               this Agreement. In the event Executive is terminated for Cause,
               this Agreement shall terminate and Executive shall be entitled to
               no compensation. Cause shall exist when and only when Executive
               (i) after receipt of written notification by the Board of
               Directors or the CEO has wilfully failed and continues to fail
               after such written notice for a period of thirty (30) days to
               substantially perform his duties (other than failure resulting
               from incapacity due to physical or mental illness), (ii) is
               convicted of a crime constituting a felony, or (iii) has been
               proven to be dishonest, has embezzled or has committed common law
               fraud ("for Cause").

     5.   Other Benefits. During the Term the Executive shall receive all rights
and benefits for which he is then eligible under any employee benefit plan or
bonus plan which the Corporation generally provides for its employees.

     6.   Death or Disability. In the event of the death of the Executive or the
disability of the Executive, this Agreement shall immediately terminate and the
Corporation shall pay to the Executive or his estate the greater of (i) six (6)
month's salary or (ii) such amount as is otherwise set forth in a separate
agreement concerning death and/or disability. Any such payment made pursuant to
(i) above shall be paid in a single lump sum payment which payment shall be due
and payable upon the sooner of (i) thirty (30) days of Executive's death or (ii)
thirty (30) days after

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Executive is declared by his physician incapable of performing his duties as
specified in this Agreement. The Corporation shall have the right to fund
Executive's death and/or disability benefit through life insurance.

     7.   Place of Performance. In connection with his employment by the
Corporation during the Term, the Executive shall at all times be entitled to an
office at the principal executive offices of the Corporation, located in Las
Vegas, Nevada, or at such other office of the Corporation.

     8.   Outside Activities and Non-Competition.

          a.   Covenant Not to Compete. Executive recognizes that the
               Corporation's decision to enter into this Agreement is induced
               primarily because of the covenants and assurances made by
               Executive, that Executive's covenant not to compete is necessary
               to ensure the continuation of the business of the Corporation and
               the reputation of the Corporation, and that irrevocable harm and
               damage will be done to the Corporation if Executive competes with
               the Corporation. Therefore, Executive agrees that during the term
               of this Agreement and for a period of two (2) years following
               termination of this Agreement, Executive shall not, directly or
               indirectly, as an employee, employer, contractor, consultant,
               agent, principal, shareholder, corporate officer, director, or in
               any other individual or representative capacity, engage or
               participate in any business or practice within the Practice
               Territory that is in competition in any manner whatsoever with
               the business of the Corporation without the written permission of
               the Corporation. The term "in competition in any manner
               whatsoever with the business of the Corporation" shall include
               but not be limited to engaging in the mortgage business in the
               Practice Territory. Practice Territory shall be defined as any
               area in which the Corporation has an office or conducts business.
               Executive agrees:

               (i)  If Executive should set up an office within the Practice
                    Territory in competition with the business of the
                    Corporation, it would cause economic harm and loss of
                    goodwill to the Corporation resulting in immediate and
                    irreparable loss, injuries, and damage to the Corporation.

               (ii) Notwithstanding anything to the contrary in this Section 8,
                    Executive is not prohibited from owning less than five
                    percent (5%) of the equity of any publicly traded entity.

          b.   Enforcement. The Corporation and Executive further agree that if
               any restriction in this Article is held by any court to be
               unenforceable or unreasonable, a lesser restriction will be
               enforced in its place and the
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          remaining restrictions in this Agreement will be enforced
          independently of each other. In any action to enforce any provision of
          this Article 8, the court may award reasonable attorneys' fees, costs,
          and expenses to the prevailing party.

     c.   Survival. The provisions of this Article 8 shall survive the
          termination of this Agreement for two (2) years.

9.   Confidentiality of Information.

     a.   Confidential Information. Executive agrees to keep confidential and
          not to use or to disclose to others during the term of this Agreement
          and for a period of ten (10) years thereafter, except as expressly
          consented to in writing by the Corporation or required by law, any
          secrets or confidential technology, proprietary information, patient
          lists, or trade secrets of the Corporation, or any matter or thing
          ascertained by Executive through Executive's affiliation with the
          Corporation, the use or disclosure of which matter or thing might
          reasonably be construed to be contrary to the best interest of the
          Corporation, the use or disclosure of which matter or thing might
          reasonably be construed to be contrary to the best interests of the
          Corporation. This restriction shall not apply to any information that
          (i) is or becomes generally available to and known by the public
          (other than as a result of an unpermitted disclosure directly or
          indirectly by Executive or Executive's affiliates, advisors, or
          representatives); (ii) is or becomes available to Executive on a
          nonconfidential basis from a source other than the Corporation or its
          affiliates, advisors, or representatives, provided that, at the time
          of disclosure to Executive, Executive is not aware that such source
          was bound by a confidentiality agreement with or other obligation of
          secrecy to the Corporation; or (iii) has already been or is hereafter
          independently acquired or developed by the Corporation; without
          violating any confidentiality agreement with or other obligation of
          secrecy to the Corporation.

     b.   Departure. Except as provided herein, should Executive leave the
          employment of the Corporation, Executive will neither take nor retain,
          without prior written authorization from the Corporation, any papers,
          client lists, fee books, client records, files, or other documents or
          copies thereof or other confidential information of any kind belonging
          to the Corporation pertaining to the Corporation's clients, business,
          sales, financial condition, or products. Without limiting other
          possible remedies to the Corporation for the breach of this covenant,
          Executive agrees that injunctive or other equitable relief shall be
          available to enforce this covenant, such relief to be without the
          necessity of posting a bond, cash or otherwise. Executive further
          agrees that if any restriction contained in this
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          paragraph is held by any court to be unenforceable or unreasonable, a
          lesser restriction shall be enforced in its place and remaining
          restrictions contained herein shall be enforced independently of each
          other.

     c.   Exceptions.

          (i)  Executive shall not be prohibited from releasing any confidential
               or proprietary information to Executive's legal counsel or
               financial advisors, provided that Executive places such advisors
               under legal obligation not to disclose the confidential
               information.

          (ii) It shall not be a breach of Executive's covenants under this
               Article 9 if a disclosure is made pursuant to a court order, a
               valid administrative agency subpoena, or a lawful request for
               information by an administrative agency. Executive shall give the
               Corporation prompt notice of any such court order, subpoena, or
               request for information.

     10.  Notice. All Notices and other communications hereunder shall be in
writing and shall be deemed to have been validly served, given or delivered five
(5) days after deposit in the United States mail, by certified mail with return
receipt requested and postage prepaid, when delivered personally, one (1) day
after delivery to any overnight courier, or when transmitted by facsimile
transmission facilities, and addressed to the party to be notified as follows:

          If to Corporation at:         2901 El Camino
                                        Las Vegas, Nevada 89102

          If to Executive at:

     12.  Miscellaneous.

     a.   This Agreement shall inure to the benefit of and be binding upon the
          Corporation, its successors and assigns. This Agreement may not be
          assigned by the Corporation without the prior written consent of the
          Executive. The obligations and duties of the Executive hereunder shall
          be personal and not assignable.

     b.   Whenever possible, each provision of this Agreement shall be
          interpreted in such a neater as to be valid and effective under
          applicable law, but if any provision of this Agreement is found to be
          prohibited or invalid under
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            applicable law, such provision will be ineffective to the extent of
            such prohibition or invalidity without invalidating the remainder of
            such provision or the remaining provisions of this Agreement.

        c.  For purposes of this Agreement an "affiliate" of a person shall
            include any person, firm, corporation, association, organization, or
            unincorporated trade or business that, now or hereinafter directly
            or indirectly, controls, or is controlled by, or practices is under
            common control with such person.

        d.  Any waiver, alteration or modification of any term of this Agreement
            will be valid only if made in writing and signed by the parties
            hereto. Each party hereto from time to time may waive any of his or
            its rights hereunder without effecting a waiver with respect to any
            subsequent occurrences or transactions hereunder.

        e.  Captions and paragraph heading used herein are for convenience only
            are not a part hereof and shall not be used in construing this
            Agreement.

        f.  This Agreement constitutes the entire understanding and agreement of
            the parties and, except as otherwise provided hereunder, there are
            no other agreements or understandings, written or oral, in effect
            between the parties relating to the employment of the Executive by
            the Corporation during the Term. All prior negotiations or
            agreements, if any, between the parties relating solely to the
            employment of the Executive by the Corporation during the Term are
            hereby superseded.

        g.  This Agreement shall be governed by and interpreted in accordance
            with the laws of the State of Nevada.

        h.  This Agreement may be executed in counterparts, each of which shall
            be deemed an original, but both of which taken together shall
            constitute one and the same instrument.

12      Arbitration.  Any controversy between the parties hereto, including the
        construction or application of any of the terms, covenants or conditions
        of this Agreement, shall on written request of one party served on the
        other be settled exclusively by arbitration in accordance with the rules
        of the American Arbitration Association then in effect. The arbitrator
        selected must be a member of the National Academy of Arbitrators and
        must have significant experience in arbitrating labor disputes. Further,
        the Arbitrator must be an attorney practicing labor law in the Southern
        California area. The cost of such arbitration shall be borne by the
        losing party or in such proportions as the Arbitrator(s) shall decide.
        Judgment may be entered on the arbitrator's award in any court of
        competent jurisdiction.
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     13.  The Executive's Employment. Nothing contained in this Agreement (i)
obligates the Corporation or any subsidiary of the Corporation to employ the
Executive in any capacity whatsoever, or (ii) prohibits or restricts the
corporation (or any such subsidiary) from terminating the employment, if any,
of the Executive at any time or for any reason whatsoever, with or without
cause, subject to the terms and conditions of this Agreement.

     IN WITNESS WHEREOF, this Agreement is effective as of the day and year
first above written.

                                        "EXECUTIVE"


                                        /s/ DANIEL STUBBS
                                        ----------------------------------
                                        Daniel Stubbs

                                        VESTIN MORTGAGE, INC.,
                                        A NEVADA CORPORATION


                                        By: /s/ LANCE BRADFORD
                                            ------------------------------
                                        Name:  Lance Bradford
                                        Title: President