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Exhibit 10.18
 AMENDMENT NO. 5
TO MASTER REPURCHASE AGREEMENT
 Amendment Existing Repurchase Agreement Repurchase Agreement Sellers Seller MSB MSMCI Buyers Buyer Agent
 RECITALS
    SECTION 1. Amendments
  Type of Eligible Mortgage Loan
    
    Applicable Pricing SpreadUnseasoned Mortgage Loan
    
    
    0.50
    %Performing Aged Loan
    
    
    0.90
    %NINA Mortgage Loan
    
    
    0.50
    %Second Lien Mortgage Loan
    
    
    0.50
    %30+ Delinquent Mortgage Loan
    
    
    1.00
    %60+ Delinquent Mortgage Loan
    
    
    1.00
    %




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Type of Eligible Mortgage Loan
    
    Applicable Pricing SpreadDefaulted Mortgage Loan
    
    
    1.45
    %Wet-Ink Mortgage Loan
    
    
    0.50
    %Discretionary Mortgage Loan
    
    the applicable pricing spread
specified by 
the Agent one (1)
Business Day prior to 
the applicable
Purchase DateRepurchased Mortgage Loans
    
    
    1.25
    %
  Type of Eligible Mortgage Loan
    
    Applicable Purchase RateUnseasoned Mortgage Loan
    
    98%Performing Aged Loan
    
    95%NINA Mortgage Loan
    
    98%Second Lien Mortgage Loan
    
    98%30+ Delinquent Mortgage Loan
    
    85%60+ Delinquent Mortgage Loan
    
    75%Wet-Ink Mortgage Loan
    
    98%Defaulted Mortgage Loan
    
    the applicable BPO PercentageDiscretionary Mortgage Loan
    
    the applicable percentagespecified by the Agent one (1)Business Day prior to theapplicable Funding DatePerforming first-lien Repurchased
Mortgage Loan
    
    95%30-59 days Delinquent Repurchased
Mortgage Loan
    
    90%60-89 days Delinquent Repurchased
Mortgage Loan
    
    80%90-119 days Delinquent Repurchased
Mortgage Loan
    
    75%120-270 days Delinquent Repurchased
Mortgage Loan
    
    65%
  -2-




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Broker Price Opinion
  Eligible Mortgage Loan Schedule 1 provided however provided further
  Loan-to-Value Ratio LTV
 -3-




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Mortgage Loan Data File provided however
  Recognized Value provided
       -4-




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provided however
   -5-




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Schedule 1
            Bailee Letter
 -6-




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Exhibit K
 Repurchased Mortgage Loan
 Repurchased Mortgage Loan Transaction
  Exhibit K Bailee Letter
  -7-




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Repurchased Mortgage Loan Transactions
      No Defaults
 -8-




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LTV; CLTV provided however
  Origination Date
  First Payment Defaults
  Combined Loan-to-Value Ratio CLTV
 -9-




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Exhibit K
 SECTION 2. Conditions Precedent Amendment Effective Date
 Delivered Documents
 Amendment
 Custodial Agreement Amendment
 Other Documents
 No Default
 SECTION 3. Representations and Warranties
 SECTION 4. Limited Effect provided however
 SECTION 5. Counterparts
 -10-




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SECTION 6. GOVERNING LAW . THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
  -11-




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SELLERSNC CAPITAL CORPORATIONBy:
    /s/ Karl WeissName:
    Karl WeissTitle:
    SVP, Secondary Marketing NEW CENTURY MORTGAGE CORPORATIONBy:
    /s/ Karl WeissName:
    Karl WeissTitle:
    SVP, Secondary Marketing NC ASSET HOLDING, L.P.By:
    
    NC DELTEX, LLC, its general partnerBy:
    
    NC Capital Corporation, its sole member and manager
 By:
    /s/ Karl WeissName:
    Karl WeissTitle:
    SVP, Secondary Marketing HOME123 CORPORATIONBy:
    /s/ Karl WeissName:
    Karl WeissTitle:
    SVP, Secondary Marketing




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NEW CENTURY CREDIT CORPORATIONBy:
    /s/ Karl WeissName:
    Karl WeissTitle:
    SVP, Secondary Marketing




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MORGAN STANLEY BANK,
as a BuyerBy:
    /s/ Andrew B. NeubergerName:
    Andrew B. NeubergerTitle:
    Vice President MORGAN STANLEY MORTGAGE CAPITAL INC., 
as a Buyer and as the AgentBy:
    /s/ Andrew B. NeubergerName:
    Andrew B. NeubergerTitle:
    Vice President