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                                                                    EXHIBIT 10.1

                  [Letterhead of Ambac Assurance Corporation]

Certificate Guaranty Insurance Policy


Insured Obligations:                            Policy Number:
ABFS Mortgage Loan Trust 2000-1                 AB0351BE
Mortgage-Backed Notes, Series 2000-1


                                                Premium:
                                                As specified in the endorsement
                                                attached hereto.


Ambac Assurance Corporation (Ambac) A Wisconsin Stock Insurance Company in
consideration of the payment of the premium and subject to the terms of this
Policy, hereby agrees unconditionally and irrevocably to pay to the Trustee for
the benefit of the Holders of the Insured Obligations, that portion of the
Insured Amounts which shall become Due for Payment but shall be unpaid by reason
of Nonpayment.

Ambac will make such payments to the Trustee from its own funds on the later of
(a) one (1) Business Day following notification to Ambac of Nonpayment or (b)
the Business Day on which the Insured Amounts are Due for Payment. Such payments
of principal or interest shall be made only upon presentation of an instrument
of assignment in form and substance satisfactory to Ambac, transferring to Ambac
all rights under such Insured Obligations to receive the principal of and
interest on the Insured Obligation. Ambac shall be subrogated to all the
Holders' rights to payment on the Insured Obligations to the extent of the
insurance disbursements so made. Once payments of the Insured Amounts have been
made to the Trustee, Ambac shall have no further obligation hereunder in respect
of such Insured Amounts.

In the event the Trustee for the Insured Obligations has notice that any payment
of principal or interest on an Insured Obligation which has become Due for
Payment and which is made to a Holder by or on behalf of the Trustee has been
deemed a preferential transfer and theretofore recovered from its Holder
pursuant to the United States Bankruptcy Code in accordance with a final,
nonappealable order of a court of competent jurisdiction, such Holder will be
entitled to payment from Ambac to the extent of such recovery if sufficient
funds are not otherwise available.

This Policy is noncancelable by Ambac for any reason, including failure to
receive payment of any premium due hereunder. The premium on this Policy is not
refundable for any reason. This Policy does not insure against loss of any
prepayment or other acceleration payment which at any time may become due in
respect of any Insured Obligation, other than at the sole option of Ambac, nor
against any risk other than Nonpayment, including failure of the Trustee to make
any payment due Holders of Insured Amounts.

To the fullest extent permitted by applicable law, Ambac hereby waives and
agrees not to assert any and all tights and defenses, to the extent such rights
and defenses may be available to Ambac, to avoid payment of its obligations
under this Policy in accordance with the express provisions hereof.

Any capitalized terms not defined herein shall have the meaning given such terms
in the endorsement attached hereto or in the Agreement.

In witness whereof, Ambac has caused this Policy to be affixed with its
corporate seal and to be signed by its duly authorized officers in facsimile to
become effective as their original signatures and binding upon Ambac by virtue
of the countersignature of its duly authorized representative.

President                             Secretary

Effective Date:  March 30, 2000       Authorized Representative


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              CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT

Attached to and forming part of                   Effective Date of Endorsement:
Certificate Guaranty Insurance                                    March 30, 2000
Policy #AB0351BE
issued to:

The Chase Manhattan Bank,
as Indenture Trustee for the Holders of
ABFS Mortgage Loan Trust 2000-1,
Mortgage-Backed Notes, Series 2000-1


            For all purposes of this Policy, the following terms shall have the
following meanings:

            "Agreement" shall mean the Sale and Servicing Agreement,  dated as
of March 1, 2000, among Prudential  Securities Secured Financing  Corporation,
as Depositor,  ABFS Mortgage Loan Trust 2000-1,  as Issuer,  American Business
Credit, Inc., as Servicer,  Chase Bank of Texas, N.A., as Collateral Agent and
The Chase Manhattan Bank, as Indenture Trustee.

            "Deficiency Amount" means, for each Payment Date, the excess, if
any, of Required Distributions over the Net Available Funds.

            "Due for Payment" shall mean with respect to any Insured Payment or
Preference Amount, such amount is due and payable pursuant to the terms of the
Indenture.

            "First Payment Date" shall mean April 17, 2000.

            "Holder" shall mean the registered owner or beneficial owner of any
Note.

            "Indenture" shall mean the Indenture dated as of March 1, 2000
between ABFS Mortgage Loan Trust 2000-1, as Issuer and The Chase Manhattan Bank,
as Indenture Trustee, as such agreement may be amended, modified or supplemented
from time to time as set forth in the Indenture.

            "Indenture Trustee" shall mean The Chase Manhattan Bank, in its
capacity as Indenture Trustee under the Indenture, or if any successor Indenture
Trustee or any co-trustee shall be appointed as provided therein, then
"Indenture Trustee" shall also mean such successor trustee or such co-trustee,
as the case may be, subject to the provisions thereof.

            "Insurance Agreement" shall mean the Insurance and Indemnity
Agreement, dated as of March 30, 2000, Ambac Assurance Corporation, as Note
Insurer, Prudential Securities Secured Financing Corporation, as Depositor, ABFS
Mortgage Loan Trust 2000-1, as Issuer, American Business Credit, Inc., as
Servicer and Originator, HomeAmerican Credit, Inc. d/b/a Upland Mortgage, as
Originator, New Jersey Mortgage And Investment Corp., as


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Originator, ABFS 2000-1, Inc., as Seller and The Chase Manhattan Bank, as
Indenture Trustee, as such agreement may be amended, modified or supplemented
from time to time.

            "Insured Amounts" shall mean, with respect to any Payment Date, any
Deficiency Amount for such Payment Date.

            "Insured Payments" shall mean, with respect to any Payment Date, the
aggregate amount paid by the Note Insurer to the Indenture Trustee in respect of
(i) Insured Amounts for such Payment Date and (ii) Preference Amounts for any
given Business Day.

            "Late Payment Rate" shall mean for any Payment Date, the greater of
(i) the rate of interest, as it is publicly announced by Citibank, N.A. at its
principal office in New York, New York as its prime rate (any change in such
prime rate of interest to be effective on the date such change is announced by
Citibank, N.A.) plus 2% and (ii) the then applicable highest rate of interest on
the Notes. The Late Payment Rate shall be computed on the basis of a year of 360
days and the actual number of days elapsed. In no event shall the Late Payment
Rate exceed the maximum rate permissible under any applicable law limiting
interest rates.

            "Net Available Funds" on any Payment Date means the Available Funds
on deposit in the Payment Accounts on such Payment Date, less the Indenture
Trustee's Fee and the Premium Amount.

            "Nonpayment" shall mean, with respect to any Payment Date, an
Insured Amount is Due for Payment but has not been paid pursuant to the
Agreement.

            "Note Insurer" means Ambac Assurance Corporation, a
Wisconsin-domiciled stock insurance corporation, or any successor thereto, as
issuer of the Policy.

            "Notes" means, collectively, the Class A-1 and Class A-2 Notes,
substantially in the form set forth in Exhibit A to the Indenture.

            "Notice" shall mean the telephonic or telegraphic notice, promptly
confirmed in writing by telecopy substantially in the form of Exhibit A to the
Policy, the original of which is subsequently delivered by registered or
certified mail, from the Trustee specifying the Insured Amount which shall be
due and owing on the applicable Payment Date.

            "Payment Account" shall have the meaning set forth in Section 8.02
of the Indenture.

            "Payment Date" shall mean the 15th day of any month (or if such 15th
day is not a Business Day, the first Business Day immediately following)
beginning in April 2000.

            "Policy" shall mean this Certificate Guaranty Insurance Policy
together with each and every endorsement hereto.

            "Preference Amount" means any payment of principal or interest on a
Note which has become Due for Payment and which is made to a Holder by or on
behalf of the Indenture Trustee which has been deemed a preferential transfer
and theretofore recovered from its Holder


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pursuant to the United States Bankruptcy Code in accordance with a final,
nonappealable order of a court of competent jurisdiction.

            "Premium Amount" shall mean the amount payable to the Note Insurer
on each Payment Date calculated at the Premium Percentage.

            "Premium Percentage" shall have the meaning set forth in the
Insurance Agreement.

            "Reimbursement Amount" shall mean, as to any Payment Date, the sum
of (x) (i) all Insured Payments paid by the Note Insurer, but for which the Note
Insurer has not been reimbursed prior to such Payment Date pursuant to Section
8.02 of the Indenture, plus (ii) interest accrued on such Insured Payments not
previously repaid calculated at the Late Payment Rate from the date the
Indenture Trustee received the related Insured Payments, and (y) without
duplication (i) any amounts then due and owing to the Note Insurer under the
Insurance Agreement, as certified to the Indenture Trustee by the Note Insurer
plus (ii) interest on such amounts at the Late Payment Rate.

            "Required Distributions" shall mean, with respect to (i) any Payment
Date occurring prior to the Payment Date in July 2031, the Interest Payment
Amount; (ii) any Over-collateralization Deficit after application of Available
Funds from both groups; and (iii) the Final Stated Maturity Date, the aggregate
Outstanding Note Principal Balance, after giving effect to all other payments of
principal on the Notes on that Payment Date.

            Capitalized terms used herein as defined terms and not otherwise
defined herein shall have the meaning assigned to them in the Insurance
Agreement, the Sale and Servicing Agreement and the Indenture.

            As provided by the Policy, the Note Insurer will pay any amount
payable hereunder no later than 12:00 noon, New York City time, on the later of
the Payment Date on which the related Insured Amount is due or the Business Day
following receipt in New York, New York on a Business Day by the Note Insurer of
a Notice; provided that, if such Notice is received after 12:00 noon, New York
City time, on such Business Day, it will be deemed to be received on the
following Business Day. If any such Notice is not in proper form or is otherwise
insufficient for the purpose of making a claim under the Policy, it shall be
deemed not to have been received for purposes of this paragraph, and the Note
Insurer shall promptly so advise the Trustee and the Trustee may submit an
amended Notice.

            As provided in the third paragraph of the Policy, the Note Insurer
shall pay any Preference Amount when due to be paid pursuant to the Order
referred to below, but in any event no earlier than the third Business Day
following receipt by the Note Insurer of (i) a certified copy of a final,
non-appealable order of a court or other body exercising jurisdiction in such
insolvency proceeding to the effect that the Indenture Trustee, or Holder, as
applicable, is required to return such Preference Amount paid during the term of
this Policy because such payments were avoided as a preferential transfer or
otherwise rescinded or required to be restored by the Indenture Trustee or
Holder (the "Order"), (ii) a certificate by or on behalf of the Indenture
Trustee or Holder that the Order has been entered and is not subject to any
stay, (iii) an


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assignment, in form and substance satisfactory to the Note Insurer, duly
executed and delivered by the Indenture Trustee or Holder, irrevocably assigning
to the Note Insurer all rights and claims of the Indenture Trustee or Holder
relating to or arising under the Indenture against the estate of the Indenture
Trustee or otherwise with respect to such Preference Amount and (iv) a Notice of
Nonpayment (in the form attached hereto as Exhibit A) appropriately completed
and executed by the Indenture Trustee. Such payment shall be disbursed to the
receiver, conservator, debtor-in-possession or trustee in bankruptcy named in
the Order, and not to the Holder directly, unless the Holder has made a payment
of the Preference Amount to the court or such receiver, conservator,
debtor-in-possession or trustee in bankruptcy named in the Order, in which case
the Note Insurer will pay the Holder, subject to the delivery of (a) the items
referred to in clauses (i), (ii), (iii) and (iv) above to the Note Insurer and
(b) evidence satisfactory to the Note Insurer that payment has been made to such
court or receiver, conservator, debtor-in-possession or trustee in bankruptcy
named in the Order.

            The Note Insurer hereby agrees that if it shall be subrogated to the
rights of Holders by virtue of any previous payment under this Policy, no
recovery of such payment will occur unless the full amount of the Holders'
allocable distributions for such Payment Date can be made. In so doing, the Note
Insurer does not waive its rights to seek full payment of all Reimbursement
Amounts owed to it under the Agreement.

            The terms and provisions of the Agreement constitute the instrument
of assignment referred to in the second paragraph of the face of this Policy.

            A premium will be payable on this Policy on each Payment Date as
provided in Section 8.02 of the Indenture, beginning with the first Payment
Date, in an amount equal to the Premium Amount.

            THE INSURANCE PROVIDED BY THE POLICY IS NOT COVERED BY THE
PROPERTY/CASUALTY INSURANCE SECURITY FUND SPECIFIED IN ARTICLE 76 OF THE NEW
YORK INSURANCE LAW.

            The Policy to which this Endorsement is attached and of which it
forms a part is hereby amended to provide that there shall be no acceleration
payment due under the Policy unless such acceleration is at the sole option of
the Note Insurer.

            Nothing herein contained shall be held to vary, alter, waive or
extend any of the terms, conditions, provisions, agreements or limitations of
the above mentioned Policy other than as above stated.

            This Policy is issued under and pursuant to, and shall be construed
in accordance with, the laws of the State of New York.


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            IN WITNESS WHEREOF, Ambac Assurance Corporation has caused this
Endorsement to the Policy to be signed by its duly authorized officers.



------------------------------            -------------------------------
Assistant Secretary                       First Vice President


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                                                                    EXHIBIT 10.1


                                    EXHIBIT A
                  TO THE CERTIFICATE GUARANTY INSURANCE POLICY
                  --------------------------------------------
                               Policy No. AB0351BE

                         NOTICE OF NONPAYMENT AND DEMAND
                         FOR PAYMENT OF INSURED AMOUNTS

                                    Date:  [         ]




Ambac Assurance Corporation
One State Street Plaza
New York, New York 10004
Attention:  General Counsel

            Reference is made to Certificate Guaranty Insurance Policy No.
AB0351BE (the "Policy") issued by Ambac Assurance Corporation ("Ambac"). Terms
capitalized herein and not otherwise defined shall have the meanings specified
in the Policy and the Indenture, as the case may be, unless the context
otherwise requires.

            The Trustee hereby certifies as follows:

            1.    The Indenture Trustee is the Indenture Trustee under the
                  Indenture for the Holders.

            2.    The relevant Payment Date is [date].

            3.    Payment on the Notes in respect of the Payment Date is due to
                  be received on ___________________ under the Indenture, in an
                  amount equal to $___________.

            4.    There is an Insured Amount of $__________ in respect of the
                  Notes, which amount is Due for Payment pursuant to the terms
                  of the Indenture.

            5.    The Indenture Trustee has not heretofore made a demand for the
                  Insured Amount in respect of the Payment Date.

            6.    The Indenture Trustee hereby requests the payment of the
                  Insured Amount that is Due For Payment be made by Ambac under
                  the Policy and directs that payment under the Policy be made
                  to the following account by bank wire transfer of federal or
                  other immediately available funds in accordance with the terms
                  of the Policy to: _____________ (Indenture Trustee's account
                  number).


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            7.    The Indenture Trustee hereby agrees that, following receipt of
                  the Insured Payment from Ambac, it shall (a) hold such amounts
                  in trust and apply the same directly to the distribution of
                  payment on the Notes when due; (b) not apply such funds for
                  any other purpose; (c) deposit such funds to the Note Account
                  and not commingle such funds with other funds held by
                  Indenture Trustee; and (d) maintain an accurate record of such
                  payments with respect to each certificate and the
                  corresponding claim on the Policy and proceeds thereof.

            ANY PERSON WHO KNOWINGLY AND WITH INTENT TO DEFRAUD ANY INSURANCE
COMPANY OR OTHER PERSON FILES AN APPLICATION FOR INSURANCE OR STATEMENT OF CLAIM
CONTAINING ANY MATERIALLY FALSE INFORMATION, OR CONCEALS FOR THE PURPOSE OF
MISLEADING, INFORMATION CONCERNING ANY FACT MATERIAL THERETO, COMMITS A
FRAUDULENT INSURANCE ACT, WHICH IS A CRIME AND SHALL ALSO BE SUBJECT TO A CIVIL
PENALTY NOT TO EXCEED FIVE THOUSAND DOLLARS AND THE STATED VALUE OF THE CLAIM
FOR EACH SUCH VIOLATION.

                                       By:
                                          -------------------------------------
                                                Indenture Trustee

                                       Title:
                                             ----------------------------------
                                                (Officer)