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                                                                   EXHIBIT 10.76

                                    AMENDMENT


        AMENDMENT, dated as of February 10, 1998 (this "Amendment"), to the
Excess Yield and Servicing Rights Purchase and Assumption Agreement, dated as of
January 22, 1998 (as amended, supplemented or otherwise modified from time to
time, the "Excess Yield Agreement"), among GREENWICH CAPITAL MARKETS, INC., as
purchaser (the "Purchaser"), and MEGO MORTGAGE CORPORATION, as seller (the
"Seller")

                                    RECITALS

        WHEREAS, pursuant to the Excess Yield Agreement, the Seller has sold and
transferred and the Purchaser has purchased the Excess Yield and Servicing
Rights with respect to Existing Conventional Loans (as defined in the Excess
Yield Agreement),

        WHEREAS, pursuant to the Excess Yield Agreement, the Seller contemplated
selling to the Purchaser the Existing FHA Loans on the FHA Loan Closing Date,
but the FHA Loan Closing Date has never taken place and such sale has never been
consummated;

        WHEREAS, the Seller desires to sell and transfer and the Purchaser
desires to purchase certain Additional Conventional Loans (as defined herein)
pursuant to the Amended and Restated Master Loan Purchase and Servicing
Agreement, dated as of October 1, 1996 (the "Original Agreement");

        WHEREAS, the Seller desires to sell and transfer and the Purchaser
desires to purchase the Excess Yield and Servicing Rights with respect to the
Additional Conventional Loans pursuant to the Excess Yield Agreement, as
modified by this Amendment; and

        WHEREAS, the Seller and the Purchaser desire to amend the Excess Yield
Agreement solely with respect to the Additional Conventional Loans, and that
with respect to Existing Loans (as defined in the Excess Yield Agreement), the
original Excess Yield Agreement terms shall continue to govern.

        NOW, THEREFORE, in consideration of the mutual agreements hereinafter
set forth and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Seller and the Purchaser hereby
agree as follows:

        1. Defined Terms. Unless otherwise defined herein, terms defined in the
Excess Yield Agreement are used herein as therein defined.

        2. Amendments. Except as expressly amended hereby, the Excess Yield
Agreement shall remain in full force and effect in accordance with its terms,
without any waiver, amendment or modification of any provision thereof. All
provisions contained in this 


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Amendment shall only apply to Additional Conventional Loans and shall in no way
modify the terms relating to Existing Loans (as defined in the Excess Yield
Agreement). Additionally, sections of the Excess Yield Agreement not modified by
this Amendment shall, as of the Additional Conventional Loan Closing Date, apply
to the Additional Conventional Loans to the same extent as they applied to the
Existing Conventional Loans. Sections or definitions of the Excess Yield
Agreement corresponding to the section or definition below are hereby amended by
deleting such section or definition and substituting in lieu thereof the
following:

               a) Additional Conventional Loans. All Additional Conventional
                  Loans, as further described on the Additional Conventional
                  Loan Schedule attached hereto as Exhibit I.

               b) Additional Conventional Loan Closing Date. The date on which
                  the Purchaser shall pay the Additional Conventional Loan
                  Purchase Price to the Seller, which date shall be February 10,
                  1998, or such other date or dates as shall be mutually agreed
                  upon by the parties hereto.

               c) Additional Conventional Loan Purchase Price. The price to be
                  paid by the Purchaser to the Seller in exchange for the Excess
                  Yield and the Servicing Rights with respect to the Additional
                  Conventional Loans as set forth in Article III of the Excess
                  Yield Agreement.

               d) Additional Conventional Loan Cut-Off Date. The close of
                  business on February 3, 1998.

               e) Existing Conventional Loans. As defined in the Excess Yield
                  Agreement, and hereafter including all Additional Conventional
                  Loans.

               f) Existing Loans: As defined in the Excess Yield Agreement, and
                  hereafter including all Additional Conventional Loans.

               g) Servicing Expiration Date. The Servicing Expiration Date shall
                  mean February 28, 1998, as such date may be extended from time
                  to time pursuant to Section 7.03 of the Excess Yield
                  Agreement.

               h) Section 2.01. Additional Conventional Loans.

                  (a) On the Additional Conventional Loan Closing Date, the
                  Seller does hereby sell, transfer, assign, set over and convey
                  to the Purchaser (to the extent that the following have not
                  already been conveyed to the Purchaser under the Original
                  Agreement), without recourse, subject to the following
                  sentence, but subject to the terms of this Agreement, (i) all
                  right, title and interest of the Seller in and to the Excess
                  Yield and the Servicing Rights with respect to the Additional
                  Conventional Loans as of the Additional Conventional Loan
                  Cut-Off Date, and (ii) all of the Seller's rights under the
                  PEC Sub-Servicing Agreement with respect to Additional
                  Conventional 

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                  Loans as of the Additional Conventional Loan Cut-Off Date.
                  Notwithstanding the foregoing sentence, the Seller shall upon
                  demand of the Purchaser repurchase from the Purchaser, at the
                  Repurchase Price, any such Additional Conventional Loan that
                  thereafter becomes a Delinquent Loan (as defined in the
                  Original Agreement); provided, however, that the Seller's
                  liability pursuant to this sentence shall not, in the
                  aggregate, exceed the product of (i) 0.025 and (ii) the
                  aggregate "Cut-Off Date Principal Balance" of the Additional
                  Conventional Loans as set forth on Exhibit A (such product,
                  the "Recourse Limit").

                  (b) On the Additional Conventional Loan Closing Date, the
                  Purchaser does hereby (to the extent that the following have
                  not already been conveyed to the Purchaser under the Original
                  Agreement), (i) accept assignment of all right, title and
                  interest of the Seller in and to the Excess Yield and the
                  Servicing Rights with respect to the Additional Conventional
                  Loans as of the Additional Conventional Loan Cut-Off Date and
                  (ii) assume, subject to the terms of this Agreement, all
                  obligations of the Seller with respect to the Servicing Rights
                  and the PEC Sub-Servicing Agreement relating to the Additional
                  Conventional Loans as of the Additional Conventional Loan
                  Cut-Off Date; provided, however, that the Purchaser expressly
                  does not assume any liability relating to or in any way
                  arising out of the foregoing obligations prior to the
                  Additional Conventional Loan Cut-Off Date.

                  (c) Notwithstanding the foregoing and notwithstanding the
                  servicing provisions contained in the Original Agreement, for
                  the period beginning on the Additional Conventional Loan
                  Closing Date and ending on the Servicing Termination Date, the
                  Seller shall service the Additional Conventional Loans
                  pursuant to the revised Servicing Addendum, attached hereto as
                  Exhibit F, as described in Article VII hereof.

                  (d) From and after the Additional Conventional Loan Closing
                  Date, and notwithstanding the fact that certain documents,
                  files, records or other information which comprise a portion
                  of the Servicing Rights may remain at the Seller's premises
                  until the Servicing Termination Date or thereafter, (i) the
                  Seller's right to service the Additional Conventional Loans
                  shall absolutely and irrevocably terminate (subject to Article
                  VII hereof) and (ii) the Seller shall have no property,
                  contract, possessory or other right, title or interest of any
                  nature whatsoever in or to the Servicing Rights (including any
                  such documents, files, records or other information at the
                  Seller's premises, all of which shall be the sole property of
                  the Purchaser) or the Excess Yield with respect to the
                  Additional Conventional Loans. The Purchaser and Seller agree
                  that no termination fee, liquidated damages or any other fee
                  or monies triggered by the termination of the Seller's right
                  to service the Additional Conventional Loans shall be payable
                  to the Servicer as a result of the termination of such
                  servicing and the transactions 

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                  contemplated by this Agreement, it being expressly understood
                  that the payment of the Additional Conventional Loan Purchase
                  Price by the Purchaser shall constitute, in and of itself, the
                  full consideration payable to the Seller for its sale of the
                  Excess Yield and the Servicing Rights with respect to the
                  Additional Conventional Loans and the other transactions
                  contemplated hereby; provided, however, that the Seller shall
                  be entitled to receive the Servicing Fee as and when
                  contemplated by the Original Agreement, as modified by Exhibit
                  F, with respect to its servicing of the Additional
                  Conventional Loans for the Purchaser for the period from the
                  Additional Conventional Loan Cut-Off Date until the Servicing
                  Termination Date.

               i) Section 2.03 Intention of the Parties.

                          It is the express intention of the parties hereto that
                  the transactions contemplated by this Agreement and the
                  Original Agreement be, and be construed as, a sale of rights
                  and interests relating to the Additional Conventional Loans by
                  the Seller and not a pledge of the rights and interests
                  relating to the Additional Conventional Loans by the Seller to
                  the Purchaser to secure a debt or other obligation of the
                  Seller. However, in the event that the Additional Conventional
                  Loans and other rights transferred under this Agreement are
                  held to be property of the Seller, or if for any reason this
                  Agreement is held or deemed to create a security interest in
                  the Additional Conventional Loans and related rights then it
                  is intended that (a) this Agreement shall also be deemed to be
                  a security agreement within the meaning of the Uniform
                  Commercial Code of any applicable jurisdiction and the Seller
                  hereby grants to the Purchaser a security interest in all of
                  Seller's right, title and interest, whether now owned or
                  hereafter acquired, in and to the Additional Conventional
                  Loans; (b) the possession by the Purchaser of the related
                  Notes or such other items of property as constitute
                  instruments, money, negotiable documents or chattel paper
                  shall be deemed to be "possession by the secured party", or
                  possession by a purchaser or a person designated by such
                  secured party, for purposes of perfecting the security
                  interest pursuant to the Uniform Commercial Code of any
                  applicable jurisdiction (including, without limitations,
                  Section 9-305, 8-313 or 8-321 thereof); (c) notifications to
                  persons holding such property, and acknowledgments, receipts
                  or confirmations from persons holding such property, shall be
                  deemed notifications to, or acknowledgments, receipts or
                  confirmations from, financial intermediaries, bailees or
                  agents (as applicable) of the Purchaser for the purpose of
                  perfecting such security interest under applicable law; and
                  (d) for purposes of this Agreement and the Pricing Letter,
                  "Loan Documents' shall include UCC-1 financing statements in
                  form acceptable for filing in the applicable jurisdictions in
                  which are located the principal place of business and the
                  executive offices of the Seller and executed by the Seller in
                  favor of the Purchaser.

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            j)   ARTICLE IV ADDITIONAL PAYMENTS:

                          The Purchaser and the Seller understand that the
                  Purchaser shall have the right to sell the Additional
                  Conventional Loans in whole or in part in its discretion on a
                  servicing released or servicing retained basis.

                          The Purchaser acknowledges that the Seller has made
                  certain contacts and tentative arrangements with potential
                  purchasers of the Additional Conventional Loans, and agrees
                  that it shall pay to the Seller a fee (such fee, the
                  "Additional Payments") equal to:

                             (a) With respect to any Purchaser Disposition of an
                      Additional Conventional Loan, except as provided in
                      paragraph (b) below, an amount equal to the product of the
                      Disposition Net Proceeds and (i) 87.5%, in the case of a
                      sale consummated within 30 days following the Additional
                      Conventional Loan Closing Date for such Loan, (ii) 80%, in
                      the case of a sale consummated between 31 and 60 days
                      following the Additional Conventional Loan Closing Date
                      for such Loan, (iii) 66 2/3%, in the case of a sale
                      consummated between 61 and 90 days following the
                      Additional Conventional Loan Closing Date for such Loan
                      and (iv) 33 1/3%, in the case of a sale consummated 91 or
                      more days following the Additional Conventional Loan
                      Closing Date for such Additional Conventional Loan, or
                      such other amounts agreed upon by the parties from time to
                      time.

                             (b) With respect to a Purchaser Disposition of an
                      Additional Conventional Loan which is arranged solely by
                      the Purchaser, an amount equal to the product of (i) 66
                      2/3% and (ii) the amount otherwise applicable pursuant to
                      paragraph (a) above.

               k) Section 9.01. Additional Conventional Loan Closing.

                  (a) The closing for the purchase and sale of the Excess Yield
                      and the Servicing Rights with respect to the Additional
                      Conventional Loans, shall take place on the Additional
                      Conventional Loan Closing Date. At the Purchaser's option,
                      the closing shall be either: by telephone, confirmed by
                      letter or wire as the parties shall agree; or conducted in
                      person, at such place as the parties shall agree.

                  (b) The closing shall be subject to the following conditions:

                      (i) all of the representations and warranties of the
                          Seller and the Purchaser under this Agreement shall be
                          true and correct as of the Additional Conventional
                          Loan Closing Date and no event shall have occurred
                          which, with notice or the passage of time, would
                          constitute a default under this Agreement;


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                      (ii) the Purchaser shall have received, or the Purchaser's
                          attorneys shall have received in escrow, all Closing
                          Documents as specified in Section 9.01(c) of this
                          Agreement, in such forms as are agreed upon and
                          acceptable to the Seller and the Purchaser, duly
                          executed by all signatories other than the Purchaser
                          as required pursuant to the respective terms thereof;

                     (iii) the Seller shall have received the amount of the
                          Additional Conventional Loan Purchase Price by wire
                          transfer of immediately available federal funds to the
                          account designated by the Seller;

                      (iv) PEC shall have consented to the assignment of the PEC
                          Sub-Servicing Agreement with respect to the Additional
                          Conventional Loans on such terms and conditions as
                          shall be acceptable to the Purchaser in its sole
                          discretion, including without limitation terms and
                          conditions relating to the Purchaser's ability to
                          terminate PEC as subservicer of the PEC Sub-Servicing
                          Agreement with respect to the Additional Conventional
                          Loans as contemplated hereunder;

                       (v)  the "Collection Account" and the "REO Account"
                          referenced in the Original Agreement shall be in the
                          name of the Purchaser within three (3) Business Days
                          following the Additional Conventional Loan Closing
                          Date; and

                      (vi) all other terms and conditions of this Agreement to
                          be performed or satisfied on or before the Additional
                          Conventional Loan Closing Date shall have been
                          complied with.

                  (c) The closing documents to be delivered on the Additional
                      Conventional Loan Closing Date shall consist of fully
                      executed originals of the following documents:

                      (i)   this Agreement;

                      (ii)  an Officer's Certificate from the Seller in the form
                            attached hereto as Exhibit B;

                     (iii)  an Opinion of Counsel from the Seller in the form 
                            attached hereto as Exhibit C;

                      (iv)  a "true sale" Opinion of Counsel from the Seller, in
                            form and substance satisfactory to the Purchaser;

        3. Effectiveness. This Amendment shall become effective upon receipt by
the Purchaser of evidence satisfactory to the Purchaser that this Amendment has
been executed and delivered by the Seller.

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        4. Counterparts. This Amendment may be executed by one or more of the
parties hereto on any number of separate counterparts and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument.

        5. Expenses. The Seller agrees to pay and reimburse the Purchaser for
all of the out-of-pocket costs and expenses incurred by the Purchaser in
connection with the preparation, execution and delivery of this Amendment,
including, without limitation, the fees and disbursements of counsel to the
Purchaser.

        6. Applicable Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED
AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

                            [SIGNATURE PAGES FOLLOW]

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        IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed and delivered as of the day and year first above written.



                                            MEGO MORTGAGE CORPORATION
                                                   as Seller



                                            By:
                                               ---------------------------------
                                               Name:
                                               Title:



                                            GREENWICH CAPITAL MARKETS, INC.,
                                             as Purchaser



                                            By:
                                               ---------------------------------
                                               Name:
                                               Title:





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                                    EXHIBIT I

                      ADDITIONAL CONVENTIONAL LOAN SCHEDULE