EXHIBIT 4(xx)

  Amendment Agreement Number Four among CRIIMI MAE Inc., CIBC, Inc., National
    Australia Bank Limited, New York Branch, Signet Bank/Virginia, The Fuji
   Bank, LTD., New York Branch, Bank Hapoalim B.M. and Canadian Imperial Bank
                          of Commerce, New York Agency







                            AMENDMENT AGREEMENT No. 4


          AMENDMENT AGREEMENT No. 4 dated as of September 20, 1995 ("Amendment
Agreement") to the Credit Agreement (as defined below) among CRIIMI MAE Inc.
(the "Company"), CIBC INC. ("CIBC"), NATIONAL AUSTRALIA BANK LIMITED, NEW YORK
BRANCH ("NAB"), SIGNET BANK/VIRGINIA ("Signet"), THE FUJI BANK, LTD., NEW YORK
BRANCH ("Fuji"), BANK HAPOALIM B.M.("Hapoalim"), (CIBC, NAB, Signet, Fuji and
Hapoalim are referred to collectively as the "Lenders") and CANADIAN IMPERIAL
BANK OF COMMERCE, NEW YORK AGENCY, as administrative agent for the Lenders (the
"Administrative Agent").

                                    RECITALS

          The Lenders, the Company and the Administrative Agent are parties to a
Revolving Credit Agreement dated as of February 28, 1994, as amended by
Amendment Agreement No. 1 dated as of June 1, 1994, Amendment Agreement No. 2
dated as of December 9, 1994 and Amendment Agreement No. 3 dated as of June 5,
1995, (the "Credit Agreement") under which the Lenders have made Loans (as
defined therein) to the Company;

          The Revolving Credit Loans and the obligations of CRIIMI MAE are
secured under a Security Agreement dated as of February 28, 1994 among the
Company, the Administrative Agent and Chemical Bank as Collateral Agent (the
"Security Agreement"); and

          The Company has requested, and the Lenders and the Administrative
Agent are willing to agree to, an amendment to the Credit Agreement to modify
certain covenants contained therein, as set forth below.  

          Accordingly, the parties hereby agree as follows:

          Section 1.  Definitions.  Capitalized terms used in this Amendment
Agreement and not otherwise defined herein shall have the respective meanings
assigned to them in the Credit Agreement.

          Section 2.  Amendments.  Subject to the conditions of effectiveness
set forth in Section 4 of this Amendment Agreement, commencing as of September
22, 1995 (the "Effective Date") the Credit Agreement is amended as follows:

               a.  References in the Credit Agreement (including references in
the Credit Agreement as amended hereby) to "this Agreement" (and indirect
references such as "hereunder", "hereby", "herein", and "hereof") shall be
deemed references to the Credit Agreement as amended hereby.

               b.   The definition of "Credit Termination Date" in Section 1.01
of the Credit Agreement is amended by replacing the date "August 28, 1996" with
"October 13, 1995".

               c.   Sections 2.03(d) and 2.08(c) of the Credit Agreement (as
added in Amendment Agreement No. 2 to the Credit Agreement) are deleted in their
entirety.

               d.   Section 8.07 of the Credit Agreement is amended (by adding a
new clause (ix) after clause (viii)) and replaced in its entirety as follows:

          "8.07  Limitation on Liens.  The Company will not, nor will it
     permit any of its Subsidiaries to, create, incur, assume or suffer to
     exist any Lien upon or with respect to any of its assets (including,
     without limitation, the Assigned Collateral), whether now owned or
     hereafter acquired, or assign or otherwise convey any right to receive
     income (including, without limitation, from the Assigned Collateral),
     except (i) as provided in the Security Agreement; (ii) Liens securing
     any Interest Rate Hedge Agreements permitted hereunder; provided, that
     the aggregate market value of the collateral subject to such Liens 
     does not exceed $12,000,000 at any time; (iii) Liens imposed by any
     governmental authority for taxes, assessments or charges not yet due
     or which are being contested in good faith and by appropriate
     proceedings if adequate reserves with respect thereto are maintained
     on the books of the Company or any of its Subsidiaries, as the case
     may be, in accordance with GAAP; (iv) Liens securing the Nomura
     Facilities, or such other facilities which may replace all or a part
     of the Nomura Facilities with substantially similar collateral;
     (v) Liens pursuant to the Amended and Restated Collateral Pledge
     Agreement dated December 29, 1992 securing the Signet Credit
     Agreement, or such other agreement which may replace such pledge
     agreement with substantially similar collateral; (vi) Liens securing
     the Indebtedness permitted by clause (vii) of Section 8.08; provided,
     that the collateral securing such Indebtedness will consist solely of
     the asset being financed; (vii) Liens securing the Indebtedness
     permitted by clause (viii) of Section 8.08; provided, that the
     collateral securing such Indebtedness will consist solely of shares of
     stock in CRI Liquidating REIT, Inc.; (viii) Liens securing the
     Indebtedness permitted by clause (x) of Section 8.08; provided, that
     the collateral securing such Indebtedness will consist solely of (i)
     shares of stock in CRIIMI, Inc., (ii) distributions arising from
     CRIIMI, Inc.'s general partnership interest in American Insured
     Mortgage Investors ("AIM84"), American Insured Investors - Series 85
     ("AIM85"), - Series 86 ("AIM86") and - Series 88 ("AIM88"), (iii) the
     Company's or its Subsidiaries' general and limited partnership
     interests in CRI/AIM Investment L.P. and (iv) the subadvisory fees
     generated by a management agreement between CRI/AIM Management, Inc.
     (or its successor, CRIIMI MAE Services Limited Partnership) and AIM
     Acquisition Partners, L.P.; and (ix) Liens securing the Indebtedness
     permitted by clause (xii) of Section 8.08; provided, that the
     collateral securing such Indebtedness will consist solely of the
     'Freddie Mac Giant GNMA-Backed Securities (Guaranteed)', which
     represent ownership interests in fully modified pass-through mortgage
     securities."

               e.   Section 8.08 of the Credit Agreement is amended (by adding a
proviso to the existing clause (vi) and by relettering the existing clause (xii)
thereof as clause "(xiii)" and by adding new clauses (xii)) and replaced in its
entirety as follows:  

          "8.08  Limitation on Indebtedness.  The Company will not, nor
     will it permit any of its Subsidiaries to, create, incur, assume or
     suffer to exist any Indebtedness, whether current or funded, or any
     other liability, except (i) Indebtedness on account of the Loans;
     (ii) other Indebtedness to the Administrative Agent or the Lenders
     arising hereunder; (iii) Indebtedness under any Interest Rate Hedge
     Agreement entered into pursuant to Section 8.13 or under any other
     Interest Rate Hedge Agreement with one or more other parties which is
     a rate cap or similar agreement; (iv) existing Indebtedness on the
     date hereof described in Section 7.12; (v) Indebtedness pursuant to
     the Signet Credit Agreement, as amended, up to a maximum aggregate
     amount of Indebtedness under such agreement of $85,000,000;
     (vi) Indebtedness pursuant to the Nomura Facilities up to a maximum
     aggregate amount of Indebtedness under such facility of $500,000,000;
     provided, that the maximum aggregate amount of such Indebtedness shall
     not exceed $300,000,000 on or after September 27, 1995;
     (vii) Indebtedness for the financing of Other Mortgage Investments (as
     defined in Section 8.17(b)) up to a maximum aggregate amount of
     Indebtedness for such purpose of $100,000,000; provided, that such
     Indebtedness shall not exceed 80% of the aggregate purchase price of
     each such Other Mortgage Investment (or one or more tranches of a
     specific series of mortgage pass-through certificates or similar
     securities constituting Other Mortgage Investments);
     (viii) Indebtedness not in excess of $10,000,000 for a working capital
     line; (ix) Indebtedness under agreements which replace all or part of
     the Indebtedness permitted by clause (v) or (vi) above in a maximum 
     aggregate amount not to exceed the respective amounts permitted by
     such clauses; (x) Indebtedness assumed in connection with the merger
     of certain affiliates of C.R.I., Inc. with the Company or its
     affiliates not to exceed $9,200,000; (xi) Indebtedness under the
     deferred compensation arrangement with William B. Dockser and H.
     William Willoughby in an aggregate amount not exceeding $5,100,000;
     provided, that such Indebtedness is permitted only so long as (x) the
     Company holds a note receivable in the same amount evidencing the
     obligation of certain affiliates of C.R.I., Inc. and (y) C.R.I., Inc.
     continues to make principal payments on such receivable to the
     Company; (xii) Indebtedness of Criimi Mae Financial Corporation II, a
     wholly-owned special purpose Subsidiary of the Company, under a
     funding note purchased by the Federal Home Loan Mortgage Corporation
     in an aggregate amount not exceeding $250,000,000; and (xiii) any
     other Indebtedness expressly approved by the Required Lenders."

               f.  Section 8.18 of the Credit Agreement is amended (by adding a
new proviso (z) after proviso (y)) and replaced in its entirety as follows:

          "8.18  Transactions with Affiliates.  Except as expressly permitted by
     this Agreement, the Company will not, nor will it permit any of its
     Subsidiaries to, directly or indirectly:  (a) transfer, sell, lease, assign
     or otherwise dispose of any Property to an Affiliate; (b) merge into or
     consolidate with or purchase or acquire Property from an Affiliate; or (c)
     enter into any other transaction directly or indirectly with or for the
     benefit of an Affiliate (including, without limitation, guarantees and
     assumptions of obligations of an Affiliate); provided, that (x) any
     Affiliate who is an individual may serve as a director, officer or employee
     of the Company or any of its Subsidiaries and receive reasonable
     compensation for his or her services in such capacity, (y) the Company and
     its Subsidiaries may enter into transactions (other than extensions of
     credit by the Company or any of its Subsidiaries to an Affiliate) providing
     for the leasing of Property, the rendering or receipt of services or the
     purchase or sale of inventory and other Property in the ordinary course of
     business if the monetary or business consideration arising therefrom would
     be substantially as advantageous to the Company and its Subsidiaries as the
     monetary or business consideration which would obtain in a comparable
     transaction with a Person not an Affiliate, and (z) the Company may
     transfer, sell, lease or assign up to $251,000,000 of Mortgage-Backed
     Securities, which (after such transfer, sale, lease or assignment) do not
     constitute Assigned Collateral, to its wholly-owned Subsidiary, Criimi Mae
     Financial Corporation II."

          Section 3.  Commitment Reduction.  The Company hereby gives
irrevocable notice to the Administrative Agent and the Lenders of the permanent
reduction of the aggregate amount of the Commitments on September 22, 1995 to
$70,000,000.  

          Section 4.  Conditions Precedent.  The amendments to the Credit
Agreement set forth in Section 2 of this Amendment Agreement shall become
effective as of the Effective Date if, and only if, the following conditions
shall have been fulfilled to the satisfaction of the Administrative Agent:

               a.   the representations and warranties of the Company set forth
in Section 6 hereof, in Section 7 of the Credit Agreement and in Section 3.1 of
the Security Agreement shall be true and correct with the same force and effect
as if made on and as of such date;

               b.   no Default or Event of Default under the Credit Agreement
shall have occurred and be continuing;

               c.   there shall not have occurred any change, or development or
event involving a prospective change, which in the opinion of the Required
Lenders could have a Material Adverse Effect; 

               d.   the Company shall have delivered to the Administrative Agent
certificate(s) of a senior officer of the Company dated as of the Effective Date
and, if different, dated as of the date on which all parties shall have executed
this Amendment Agreement certifying as to (i) the items in paragraphs (a), (b)
and (c) of this Section 4 of this Amendment Agreement, (ii) the resolutions of
the Board of Directors of the Company relating to the transactions contemplated
herein, and (iii) the name and authorized signature of each officer authorized
to sign this Amendment Agreement;

               e.   the Company, the Administrative Agent and  the Required
Lenders shall have executed this Amendment Agreement;

               f.   the Company shall have tendered or paid to the
Administrative Agent the fees and expenses set forth in Section 7 of this
Amendment Agreement;  and

               g.   the Company shall have complied with any other reasonable
request of the Administrative Agent or any Lender.

          Section 5.  Compensation.  The Company agrees that, notwithstanding
clause (i) of the definition of "Interest Period" in Section 1.01 of the Credit
Agreement, for purposes of Section 5.05(a) of the Credit Agreement, repayment of
the Loans on the Commitment Termination Date (as in effect after giving effect
to the amendments hereunder) shall be deemed a repayment on a date other than
the last day of the current Interest Periods therefore and the Company shall
compensate each Lender for any loss, cost or expense attributable thereto.

          Section 6.  Representations and Warranties.  The Company represents
and warrants to the Administrative Agent and the Lenders that:

               a.   the execution, delivery and performance of this Amendment
Agreement has been duly authorized by all necessary corporate action on its part
and do not and will not (i) violate any provision of law, rule, regulation,
order, writ, judgment, injunction, decree, determination or award as currently
in effect to which it is subject or of its certificate of incorporation or by-
laws, (ii) result in a breach of or constitute a default under any indenture or
loan or credit agreement or any other agreement, lease or instrument to which it
is a party or by which it or any of its properties is bound, (iii) result in, or
require, the creation or imposition of any mortgage, deed of trust, assignment,
pledge, Lien, security interest or other charge or encumbrance of any nature
upon or with respect to any of its properties, (iv) require any authorization,
consent, approval, license, exemption of or filing with any commission, board,
bureau, agency or instrumentality or (v) require the consent of any other
Person;

               b.   this Amendment Agreement constitutes its legal, valid and
binding obligation, enforceable against it in accordance with its terms, subject
to bankruptcy, insolvency, reorganization, moratorium or other laws affecting
the rights of creditors generally and to equitable principles; and

               c.   no Default or Event of Default under the Credit Agreement
exists or will result from the execution of this Amendment Agreement.

          Section 7.  Miscellaneous.

               a.   This Amendment Agreement shall be governed by and construed
in accordance with the laws of the State of New York.

               b.   Except as expressly set forth herein, the Credit Agreement,
the Notes, the Security Agreement and all other related documents shall remain
unmodified and in full force and effect.  The execution, delivery and
effectiveness of this Amendment Agreement shall not, except as expressly
provided herein, operate as a waiver of any right, power or remedy of the
Company, any Lender or the Administrative Agent under any of the Credit
Agreement, the Notes, the Security Agreement or any related document, nor, 
except as expressly provided herein, constitute a waiver of any provision of any
such document.

               c.   This Amendment Agreement may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same instrument.

               d.   The Company will pay on demand all reasonable out-of-pocket
costs and expenses of the Administrative Agent, including reasonable fees and
disbursements of counsel for the Administrative Agent, in connection with this
Amendment Agreement.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

          IN WITNESS WHEREOF, the parties hereto have caused their duly
authorized officers to execute and deliver this Amendment Agreement as of the
date first above written.

                                   CRIIMI MAE INC.



                                   
                                   By:     /s/ Jay R. Cohen
                                           -------------------------
                                   Title:  Executive Vice President






                                   CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK
                                   AGENCY,
                                    as Administrative Agent 



                                   
                                   By:     /s/ Daniel J. Conlon
                                           -----------------------
                                   Title:  Authorized Signatory






                                   CIBC INC.,
                                    as Lender



                                   
                                   By:     /s/ Lu Ann Bowers
                                           ---------------------
                                   Title:  Vice President




                                   NATIONAL AUSTRALIA BANK LIMITED, NEW YORK
                                   BRANCH,
                                    as Lender



                                   
                                   By:    /s/ T. F. Kilfoyle
                                          ------------------------
                                   Title: Vice President




                                   SIGNET BANK/VIRGINIA,
                                    as Lender



                                   
                                   By:    /s/ Barry E. Cooper
                                          ---------------------
                                   Title: Vice President
                                   THE FUJI BANK, LTD., NEW YORK BRANCH, as
                                   Lender



                                   ______________________________
                                   By:
                                   Title:






                                   BANK HAPOALIM B.M.,
                                    as Lender



                                   _______________ _____________    
                                   By:             By:
                                   Title:          Title:<PAGE>