Document:

<PAGE>

                                                                  Exhibit 10.1.2

                               LETTER AGREEMENT
                         AMENDING EMPLOYMENT AGREEMENT

April 1, 2000

Dear Mr. Strauss:

Reference is hereby made to your employment agreement, dated August 26, 1999
(the "Employment Agreement"), with American Home Mortgage Holdings, Inc. (the
"Company").  This letter hereby amends and restates Section 6(a) of the
Employment Agreement to read in its entirety as follows:

     "(a)  During the period from the commencement of the term of this Agreement
     until December 31, 1999, the Company shall pay the Executive, and the
     Executive agrees to accept, a base salary at the rate of not less than
     $130,000 per year.  Commencing January 1, 2000 and for the remainder of the
     term of this Agreement, the Company shall pay to the Executive, and the
     Executive agrees to accept, a base salary of not less than $350,000 per
     year, with increases in such rate in accordance with the Company's regular
     administrative practices of salary increases applicable to senior officers
     from time to time during the term of this Agreement (being hereinafter
     referred to as the "Base Salary").  The Base Salary shall be paid in
     installments no less frequently than monthly.  Any increase in Base Salary
     or other compensation shall not limit or reduce any other obligation of the
     Company hereunder, and once established at an increased specified rate, the
     Executive's Base Salary hereunder shall not thereafter be reduced."

Other than the amendment expressly set forth herein, the terms of the Employment
Agreement shall remain in full force and effect.

Kindly acknowledge your acceptance of the term of this letter agreement by
signing below and returning the signed original to the Company.  Please keep a
copy of this letter agreement for your files.

Sincerely,

/s/ Michael Strauss
_______________________________________
Michael Strauss
President and Chief Executive Officer

                                                      Acknowledged and Accepted:

                                                      /s/ Michael Strauss
                                                      __________________________
                                                      Michael Strauss<PAGE>

                                                                  EXHIBIT 10.4.2

                    FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

        This is the first amendment to the Employment Agreement dated on or
about March 9, 1998, by and between American Home Mortgage Corp. and James
O'Reilly (the "Employment Agreement") and is made on February 1, 2001.

        1  The defined terms set forth in the Employment Agreement shall be
           given their same meaning in this amendment

        2  Section 5, subsection (c) of the Employment Agreement is omitted in
           its entirety and replaced with the following:

           A portion of the profit from secondary market activities, secondary
           market activities being defined as the aggregate difference for all
           loans sold during a month, between the price the Company receives for
           a loan and the price the company would have received for the loan had
           it sold the loan to the best efforts investor offering the highest
           price for the loan, that resulting total plus or minus the gain or
           less from hedging activities allocated to the month. For the purpose
           of this subsection, best efforts investors shall be limited to those
           investors to which the company has sold loans, and the twenty largest
           buyers of whole mortgage loans in the United States based on league
           tables for the previous year. For the purposes of this subsection,
           highest price shall be based on the lock-in period granted a
           customer. For the purposes of this subsection, hedging activities
           shall include pairing-out of unfulfilled forward sales contracts and
           options trading.

           The portion of the profit that shall be paid as a monthly bonus is
           as follows:

<TABLE>
<CAPTION>
           Profit from Secondary Marketing Activities         Portion (percentage) that shall be
                                                              paid to the Executive as bonus
         <S>                                                    <C>
           First $100,000 of monthly profit........................ 10%
           Next $150,000 of monthly profit.........................  9%
           Next $300,000 of monthly profit.........................  5%
           Next $500,000 of monthly profit.........................  3%
           Profits exceeding $1,050,000 per month..................  2%
</TABLE>

           If there is a loss from secondary marketing activity during a given
           month, such loss will be offset against profits in the subsequent
           month, or if necessary months, until the amount of the loss is fully
           offset. In a month for which a profit is being offset by a previous
           loss, the profit from secondary marketing activities upon which the
           bonus is calculated will be the amount of profit for the month less
           the amount of the loss being offset.

           Bonuses due to the Executive pursuant to this Section shall be
           calculated by the company and paid to the Executive no later than
           thirty days after the close of a month. If the Executive disagrees
           with the amount paid for a given month, he will notify the Company
           within ten days. Absent such notification, the amount paid shall be
           deemed correct.

           The Executive agrees that his first responsibility is to protect the
           company from interest rate risk, and that he will not engage in
           practices that expose the company to material losses due to a change
           in interest rates. The Executive agrees that profits from secondary
           marketing activity will be earned by 1) selling loans on a mandatory
           basis and hedging the resulting interest rate risk, 2) selling loans
           in bulk, 3) negotiating favorable sale terms with investors, 4)
           taking advantage of opportunities due to investors continuing to
           offer a set price as the market changes, and 5) other opportunities
           that do not create material interest rate risk.

        3  The amount due and unpaid the Executive as of this date is $150,000,
           and no additional amount for past services or previous periods is
           due.

        4  All other terms of the Employment Agreement remain unchanged.

        IN WITNESS WHEREOF, the parties hereto have caused this amendment to be
duly executed on February 1, 2001.

                                American Home Mortgage Corp.

                                By: /s/ Michael Strauss
                                    ----------------------------------
                                    Name:   Michael Strauss
                                    Title:  President

                                /s/ James O'Reilly
                                ---------------------------------------
                                James O'Reilly<PAGE>

                                                                 EXHIBIT 10.27.2

                              SEVENTH AMENDMENT TO
                              AMENDED AND RESTATED
                      MORTGAGE LOAN WAREHOUSING AGREEMENT
                      -----------------------------------

  SEVENTH AMENDMENT TO AMENDED AND RESTATED MORTGAGE LOAN WAREHOUSING AGREEMENT
(the "Amendment"), dated as of May 15, 2001 by and among AMERICAN HOME MORTGAGE
CORP. ("American Home"), MARINA MORTGAGE COMPANY, INC. ("Marina" and, together
with American Home, the "Companies" and each a "Company"), AMERICAN HOME
MORTGAGE HOLDINGS, INC. ("Guarantor"), FIRST UNION NATIONAL BANK, COMERICA BANK,
GUARANTY BANK (formerly known as Guaranty Federal Bank, F.S.B.) and BANKERS
TRUST COMPANY (collectively, the "Lenders") and FIRST UNION NATIONAL BANK, as
administrative agent for the Lenders (in such capacity, the "Administrative
Agent").

                                 STATEMENT OF PURPOSE
                                 --------------------

  WHEREAS, the Companies, the Lenders, and the Administrative Agent are parties
to an Amended and Restated Mortgage Loan Warehousing Agreement dated as of May
25, 2000, as amended by a First Amendment to Amended and Restated Mortgage Loan
Warehousing Agreement dated as of August 15, 2000, by a Second Amendment to
Amended and Restated Mortgage Loan Warehousing Agreement dated as of August 30,
2000, by a Third Amendment to Amended and Restated Mortgage Loan Warehousing
Agreement dated as of September 28, 2000, by a Fourth Amendment to Amended and
Restated Mortgage Loan Warehousing Agreement dated as of November 10, 2000 and
by a Fifth Amendment to Amended and Restated Mortgage Loan Warehousing Agreement
dated as of December 6, 2000 (as so amended, the "Credit Agreement"); and

  WHEREAS, the parties hereto wish to amend the Credit Agreement to provide for
the termination of Guaranty Bank (formerly know as Guaranty Federal Bank,
F.S.B.) ("Guaranty Bank") as a "Lender" under the Credit Agreement, as amended
hereby, as of the date hereof, and for the payment in full on the date hereof to
Guaranty Bank of all Obligations owed by the Companies or either of them to
Guaranty Bank thereunder and as more specifically set forth below; and

  WHEREAS, subject to and upon the terms and conditions herein set forth, the
Lenders and the Administrative Agent are willing to continue to make available
to the Companies the credit facilities provided for in the Credit Agreement; and

  WHEREAS, a specific condition to the willingness of the Lenders and the
Administrative Agent to continue to make available to the Companies the credit
facilities provided for in the Credit Agreement is the reaffirmation by  the
Guarantor of the Guaranty to which the Guarantor is a party; and
<PAGE>

  WHEREAS, the Guarantor will derive a material benefit from the continued
availability to the Companies of the credit facilities provided for in the
Credit Agreement and therefore the Guarantor is willing to reaffirm the Guaranty
to which the Guarantor is a party;

  NOW, THEREFORE, in consideration of the premises and agreements contained
herein, and for good and valuable consideration, the receipt and sufficiency of
which are acknowledged by the parties hereto, the parties hereto hereby agree as
follows:

  1.  All capitalized terms used herein and not otherwise defined shall have the
respective meanings provided to such terms in the Credit Agreement, as amended
hereby.

  2.  Amendments to the Credit Agreement.
      ----------------------------------

          a.   The Credit Agreement is hereby amended as necessary to provide
that from and after the date hereof, (i) Guaranty Bank shall no longer be a
"Lender" under the Credit Agreement, as amended hereby, and (ii) all references
to "Lender" or "Lenders" under the Credit Agreement, as amended hereby, on in
any of the Credit Documents referred to therein, shall not include Guaranty
Bank.

          b.   The following paragraph is hereby added as a new Paragraph
2(l)(7) of the Credit Agreement:

          "(7)  To the Administrative Agent, for the account of the Lenders, a
          facility fee, such fee to be computed on a per annum basis, payable on
          May 15, 2001 and on each anniversary of such date, each such payment
          to be in an amount equal to the product of (i) the Aggregate Facility
          Commitment on the payment date, multiplied by (ii) 0.15%; provided,
                                          -------------             --------
          however, that the amount of the fee to be paid on May 15, 2001 shall
          -------
          be prorated for the period from May 15, 2001 through and including
          October 31, 2001; provided further, however, that on the date of any
                            -------- -------  -------
          increase in the Aggregate Facility Commitment in excess of the
          Aggregate Facility Commitment in effect on May 15, 2001, the Companies
          shall pay to the increasing Lender or the new Lender, as applicable, a
          facility fee in any amount equal to the product of (A) the amount by
          which the Aggregate Facility Commitment after such increase is
          effected exceeds the Aggregate Facility Commitment in effect on May
          15, 2001, multiplied by (B) 0.15%, said fee to be prorated for the
                    -------------
          period from the date on which said increase is effected through and
          including October 31, 2001.  Said fee will be shared among the Lenders
          in the proportion which the Commitment of each Lender on the payment
          date bears to the Aggregate Facility Commitment on the payment date."

          c.        Paragraph 6(b)(1) of the Credit Agreement is hereby deleted
in its entirety and the following paragraph is hereby substituted in lieu
thereof:

                                       2
<PAGE>

          "(1)  Within forty-five (45) days after the last day of each calendar
          month, a Monthly Management Report and a Monthly Repurchased Loan
          Report for said calendar month, each in a form approved by the
          Administrative Agent and containing such other information as may be
          reasonably requested by the Administrative Agent or the Collateral
          Agent (provided, that neither of such forms shall be amended or
                 --------
          modified at any time to remove any category or type of information
          contained thereon without the prior approval of the Required
          Lenders);"

          d.        Paragraph 7(c) of the Credit Agreement is hereby deleted in
its entirety and the following paragraph is hereby substituted in lieu thereof:

          "7(c)  Consolidation and Merger; Change of Business. Liquidate or
                 --------------------------------------------
          dissolve or enter into any consolidation, merger, partnership, joint
          venture, syndicate or other combination or make any change in the
          nature of its business as presently conducted; provided, that either
                                                         --------
          of the Companies may merge with another Person in a similar line of
          business if, immediately after giving effect to such merger, (i) no
          Potential Default or Event of Default exists and is continuing, and
          (ii) such Company is the surviving Person; provided further, however,
                                                     ----------------  -------
          that either of the Companies may enter into a joint venture, in the
          form of a limited partnership or a limited liability company, with
          another Person who works with consumers needing mortgage loans, such
          as a real estate broker or home builder, so long as (i) the initial
                                                   ----------
          amount of investment and capitalization by the venturing Company in or
          of any such joint venture may not exceed $50,000 (or such larger
          amount as may be approved by the Required Lenders or as may be
          required by the applicable federal or state licensing authority); (ii)
          the venturing Company shall make no further investment in or
          capitalization of any such joint venture, after such initial
          investment or capitalization, without the prior consent of the
          Required Lenders; and (iii) the Companies shall not enter into more
          than four (4) such joint ventures in any calendar year; provided that
                                                                  --------
          within three (3) Business Days of the initial investment in or
          capitalization of any such joint venture by either of the Companies,
          the Companies shall provide the Administrative Agent and the Lenders
          notice of the  establishment of such joint venture, such notice to
          include the name of such joint venture and the amount of such initial
          investment or capitalization; provided, however, that notwithstanding
                                        --------  -------
          anything to the contrary  contained above in this Paragraph 7(c),
          neither of the Companies may liquidate or dissolve or enter into any
          consolidation, merger, partnership, joint venture, syndicate or other
          combination or make any change in the nature of its business as
          presently conducted until after such date, if any, on which the
          Guarantor shall have received an aggregate amount equal to or greater
          than $10,000,000 in net shareholder's equity as a result of a stock
          offering by the Guarantor."

                                       3
<PAGE>

          e.  Paragraph 7(d) of the Credit Agreement is hereby deleted in its
entirety and the following paragraph is hereby substituted in lieu thereof:

          "7(d)  Acquisition.  Purchase or acquire or incur liability for  the
                 -----------
          purchase or acquisition of any or all of the assets or business of any
          Person, other than in the normal course of business as currently
          conducted (it being expressly agreed and understood that the
          acquisition of non-recourse servicing is a normal course of business
          activity and that the acquisition of recourse servicing is not a
          normal course of business activity); provided, that either of the
                                               --------
          Companies may merge with another Person in a similar line of business
          if, immediately after giving effect to such merger, (i) no Potential
          Default or Event of Default exists and is continuing, and (ii) the
          assets acquired are pledged to the Administrative Agent for the
          benefit of the Lenders as Collateral hereunder; provided, however,
                                                          --------  -------
          that notwithstanding anything to the contrary contained above in this
          Paragraph 7(d), neither of the Companies may purchase or acquire any
          such assets or business, or enter into any such merger, until after
          such date, if any, on which the Guarantor shall have received an
          aggregate amount equal to or greater than $10,000,000 in net
          shareholder's equity as a result of a stock offering by the
          Guarantor."

          f.   Paragraph 7(i) of the Credit Agreement is hereby deleted in its
entirety and the following paragraph is hereby substituted in lieu thereof:

          "7(i)  Minimum Adjusted Tangible Shareholder's Equity.  Permit
                 ----------------------------------------------
          Adjusted Tangible Shareholder's Equity as of the last day of any
          fiscal quarter of the Guarantor to be less than the sum of (i)
          $14,500,000, plus (ii) eighty-five percent (85%) of the aggregate
                       ----
          amount of net shareholder's equity received by the Guarantor after May
          15, 2001 as a result of any stock offering(s) by the Guarantor."

          g.        Paragraph 7(j) of the Credit Agreement (which paragraph is
erroneously numbered as a second Paragraph 7(i) in the Credit Agreement) is
hereby amended by deleting the amount "$2,000,000" contained therein and
substituting the amount "$3,500,000" in lieu thereof.

          h.   The definition of the term "Aggregate Facility Commitment"
contained in Paragraph 11 of the Credit Agreement is hereby amended by deleting
the amount "$150,000,000" contained therein and substituting the amount
"$180,000,000" in lieu thereof.

          i.   Subparagraph (l) of the definition of the term "Eligible Mortgage
Loan" contained in Paragraph 11 of the Credit Agreement is hereby deleted in its
entirety and the following paragraph is hereby substituted in lieu thereof:

          "(l)  Said Mortgage Loan has not previously been owned by any of the
          Companies and shipped to an investor and subsequently repurchased by
          the Companies from such investor, or returned to the Companies by such
          investor, for

                                       4
<PAGE>

          whatever reason; provided, however, that a Mortgage Loan which has
          been owned by any of the Companies, shipped to an investor and
          subsequently repurchased by the Companies from such investor, or
          returned to the Companies by such investor, may be included in the
          Borrowing Base so long as (i) said Mortgage Loan has not been returned
                         ----------
          to the Companies by such investor, or required by such investor to be
          repurchased by the Companies, due to any fraud or suspected fraud on
          the part of the Obligor thereon; and (ii) the Unit Collateral Value of
          said Mortgage Loan, when added to the Unit Collateral Values of all
          other Mortgage Loans which have been so returned or repurchased, does
          not exceed $5,000,000 (Eligible Mortgage Loans referred to in the
          proviso to this subparagraph (l) shall be referred to herein as
          "Eligible Repurchase Mortgage Loans")."

          j.   The definition of the term "Maturity Date" contained in Paragraph
11 of the Credit Agreement is hereby amended by deleting the date "May 15, 2001"
contained therein and substituting the date "October 31, 2001" in lieu thereof.

          k.   The following definition of the term "Monthly Repurchased Loan
Report" is hereby added to Paragraph 11 of the Credit Agreement in the
appropriate alphabetical order:

          "`Monthly Repurchased Loan Report' shall mean a report prepared by the
            -------------------------------
          Companies in the form of that attached hereto as Exhibit N."
                                                           ---------

          l.   The definition of the term "Subordinated Indebtedness"  contained
in Paragraph 11 of the Credit Agreement is hereby deleted in its entirety and
the following paragraph is hereby substituted in lieu thereof:

          "`Subordinated Indebtedness' shall mean the following indebtedness of
            -------------------------
          Guarantor:  (i) the obligations of Guarantor payable to the order of
          each of Vincent Manglardi, John A. Manglardi, Jeffrey L. Lake and
          ----
          Thomas J. Fiddler pursuant to the first sentence of Paragraph 2.4(c)
          of the First Home Merger Agreement; (ii) the obligations of Guarantor
          payable to the order of each of John A. Johnston, Ronald L. Bergum,
                                  ----
          Michael Ronald Moore, Stanley M. Bergum, Steven Michael Somerman,
          Daniel Joseph Manginelli III, Lanceworth Camillo Powell, Darius Dean
          Livian and John Knox Carnahan pursuant to Paragraph 2.4(e) of the
          Marina Merger Agreement; and (iii) the obligations of Guarantor
          payable to the order of each of Robert Charles Boehnlein, Charles
                                  ----
          Mario DeMarti, Allen Charles Scarpetti, Emilio Nunez and Patrick John
          Huber pursuant to certain Amended and Restated Notes of even date
          herewith payable by Guarantor to the order of each of Robert Charles
                                                        ----
          Boehnlein, Charles Mario DeMarti, Allen Charles Scarpetti, Emilio
          Nunez and Patrick John Huber; provided, that the obligation of
                                        --------
          Guarantor to pay and otherwise satisfy all such indebtedness shall be
          subordinated to the payment in full of the Obligations pursuant to
          Subordination and Standstill Agreements in form and content
          satisfactory to Administrative Agent."

                                       5
<PAGE>

          m.   Schedule I, Schedule III, Exhibit G and Exhibit I to the Credit
               ----------  ------------  ---------     ---------
Agreement are hereby deleted in their entireties and the forms of Schedule I,
                                                                  ----------
Schedule III, Exhibit G and Exhibit I attached to this Amendment as Annex I,
------------  ---------     ---------
Annex II, Annex III and Annex IV, respectively, are hereby substituted in lieu
thereof.

          n.   A new Exhibit N is hereby added to the Credit Agreement in the
                     ---------
form attached to this Amendment as Annex V.

  3.  This Amendment shall become effective as of the date hereof, provided that
the Administrative Agent shall have received by such date the following items:

                a. A copy of this Amendment executed by the Companies, the
     Guarantor, each of the Lenders and the Administrative Agent (whether such
     parties shall have signed the same or different copies);

                b. A Reaffirmation of Guaranty of even date herewith in form and
     substance satisfactory to the Administrative Agent, executed by the
     Guarantor;

                c. Certificates of even date herewith signed by the President or
     any Vice President of each of the Companies and of the Guarantor and
     attested to by the Secretary or any Assistant Secretary of each of the
     Companies and of the Guarantor certifying that (i) the Articles, Bylaws and
     resolutions of such Company or of the Guarantor, as applicable, previously
     delivered to the Administrative Agent remain in full force and effect
     except as provided therein, (ii) such Company or the Guarantor, as
     applicable, remains in good standing, (iii) all representations and
     warranties of such Company or the Guarantor, as applicable, previously made
     to the Administrative Agent and the Lenders remain true, complete and
     accurate, and (iv) no Event of Default or Potential Default has occurred
     and is continuing;

                d. Twelve (12) Subordination and Standstill Agreements, each
     executed by the Administrative Agent, the Guarantor, the Companies and the
     respective former shareholder of Marina party thereto, and each in form and
     substance satisfactory to the Administrative Agent, pursuant to which each
     such shareholder shall subordinate certain indebtedness owed to such
     shareholder by the Guarantor to the payment in full of the Obligations;

                e. Copies of five (5) Amended and Restated Notes, each made by
     the Guarantor payable to the order of the respective former shareholder of
     Marina named therein, and each in form and substance satisfactory to the
     Administrative Agent and containing language subordinating the indebtedness
     evidenced thereby to the payment in full of the Obligations;

                f. Resolutions of each of the Companies and of the Guarantor
     authorizing the execution of this Amendment and, with respect to the
     Guarantor,

                                       6
<PAGE>

     the Reaffirmation of Guaranty, the Subordination and Standstill
     Agreements, and the Amended and Restated Notes; and

                g. A facility fee, payable to the Administrative Agent for the
     ratable benefit of each of the Lenders, in the amount and as further
     provided in Paragraph 2(l)(7) of the Credit Agreement (as amended hereby).

  4.  This Amendment is limited and, except as set forth herein, shall not
constitute a modification, acceptance or waiver of any other provision of the
Credit Agreement, or any other document or instrument entered into in connection
therewith.

  5.  This Amendment may be executed in any number of counterparts by the
different parties hereto on separate counterparts, each of which counterparts
when executed and delivered shall be an original, but all of which together
shall constitute one and the same instrument.  A complete set of counterparts
shall be lodged with the Companies and the Administrative Agent.

  6.  This Amendment and the rights and obligations of the parties hereunder
shall be construed in accordance with and governed by the laws of the State of
North Carolina.

  7.  From and after the date hereof, all references in the Credit Agreement,
and any other document or instrument entered into in connection therewith, to
the Credit Agreement shall be deemed to be references to the Credit Agreement as
amended hereby.

  8.  The Companies jointly and severally agree that any and all Obligations
owed by the Companies or either of them as of the date hereof to Guaranty Bank
pursuant to the terms of the Credit Agreement shall be repaid in full to
Guaranty Bank on the date hereof.

  9.  The Guarantor joins in the execution and delivery of this Amendment to
acknowledge and consent to the terms hereof and hereby reaffirms its obligations
under the Guaranty (as reaffirmed by the Reaffirmation of Guaranty) and agrees
that the Guaranty (as reaffirmed by the Reaffirmation of Guaranty) shall remain
in full force and effect with respect to the Obligations.

  10.  EACH OF THE LENDERS, THE ADMINISTRATIVE AGENT, THE GUARANTOR AND EACH OF
THE COMPANIES HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY LAW, THE RIGHT ANY OF THEM MAY HAVE TO A TRIAL BY
JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN
CONNECTION WITH THIS AMENDMENT AND ANY AGREEMENT CONTEMPLATED TO BE EXECUTED IN
CONJUNCTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS
(WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY RELATING HERETO OR THERETO.
THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE LENDERS AND THE ADMINISTRATIVE
AGENT TO ENTER INTO THIS AMENDMENT.

                                       7
<PAGE>

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

                              AMERICAN HOME MORTGAGE CORP., a
                              New York corporation

                              By /s/ Michael Strauss
                                 --------------------------------
                              Name   Michael Strauss
                                   ------------------------------
                              Title  President
                                    -----------------------------

                              MARINA MORTGAGE COMPANY, INC., a
                              California corporation

                              By  /s/ Michael Strauss
                                 --------------------------------
                              Name    Michael Strauss
                                   ------------------------------
                              Title   Chairman
                                    -----------------------------

ACKNOWLEDGED AND AGREED TO:

                              AMERICAN HOME MORTGAGE HOLDINGS, INC.,
                              a Delaware corporation, as Guarantor

                              By /s/ Michael Strauss
                                 --------------------------------
                              Name   Michael Strauss
                                   ------------------------------
                              Title  President
                                    -----------------------------

                                       8
<PAGE>

                              FIRST UNION NATIONAL BANK, a national banking
                              association, as Administrative Agent and a Lender

                              By /s/ Anthony J. Alfieri
                                 --------------------------------
                              Name   Anthony J. Alfieri
                                   ------------------------------
                              Title  Vice President
                                    -----------------------------

                              COMERICA BANK, a
                              Michigan banking corporation, as a Lender

                              By /s/ Heather Hogle
                                 --------------------------------
                              Name   Heather Hogle
                                   ------------------------------
                              Title  Account Officer
                                    -----------------------------

                              GUARANTY BANK (formerly known as Guaranty Federal
                              Bank, F.S.B.), a federal savings bank, as a Lender

                              By /s/ Gregory S. Leftwich
                                 --------------------------------
                              Name   Gregory S. Leftwich
                                   ------------------------------
                              Title  Vice President
                                    -----------------------------

                              BANKERS TRUST COMPANY, a New York banking
                              corporation, as a Lender

                              By /s/ Glenn Minkoff
                                 --------------------------------
                              Name   Glenn Minkoff
                                   ------------------------------
                              Title  Director
                                    -----------------------------

                                       9
<PAGE>

                                                                         ANNEX I

                                  SCHEDULE III
                                       TO
 AMENDED AND RESTATED AMENDED AND RESTATED MORTGAGE LOAN WAREHOUSING AGREEMENT
                            DATED AS OF May 25, 2000
                   BY AND AMONG AMERICAN HOME MORTGAGE CORP.,
                         MARINA MORTGAGE COMPANY, INC.,
                  FIRST UNION NATIONAL BANK AS ADMINISTRATIVE
                      AGENT AND THE LENDERS PARTY THERETO

                              Commitment Schedule
                              -------------------

<TABLE>
<CAPTION>
            Lender                    Maximum Commitment                 Percentage Share
------------------------------  -------------------------------  --------------------------------
<S>                             <C>                              <C>

First Union National Bank                $50,000,000                       55.55%

Bankers Trust Company                    $25,000,000                       27.78%

Comerica Bank                            $15,000,000                       16.67%

AGGREGATE FACILITY COMMITMENT            $90,000,000                      100.00%
</TABLE>

                                       10
<PAGE>

                                                                        ANNEX II

                                   SCHEDULE I
                                       TO
 AMENDED AND RESTATED AMENDED AND RESTATED MORTGAGE LOAN WAREHOUSING AGREEMENT
                            DATED AS OF May 25, 2000
                   BY AND AMONG AMERICAN HOME MORTGAGE CORP.,
                         MARINA MORTGAGE COMPANY, INC.,
                  FIRST UNION NATIONAL BANK AS ADMINISTRATIVE
                      AGENT AND THE LENDERS PARTY THERETO

                             Schedule of Addresses
                             ---------------------

COMPANIES:

American Home Mortgage Corp.
520 Broadhollow Road
Melville, New York  11747
Attention:
           --------------------------

Marina Mortgage Company, Inc.,
520 Broadhollow Road
Melville, New York  11747
Attention:
           --------------------------

GUARANTOR:

American Home Mortgage Holdings, Inc.
520 Broadhollow Road
Melville, New York  11747
Attention:
           --------------------------

ADMINISTRATIVE AGENT:

First Union National Bank
One First Union Center, TW-09
301 South College Street, 9th Floor
Charlotte, North Carolina  28288-0610
Attention:  Anthony J. Alfieri

                                       11
<PAGE>

LENDERS:

First Union National Bank
One First Union Center, TW-09
301  South College Street, 9th Floor
Charlotte, North Carolina 28288-0610
Attention:  Anthony J. Alfieri

Comerica Bank
One Detroit Center
500 Woodward Avenue, 7th Floor
Detroit, Michigan  48226
Attention:  Heather D. Hogle

Bankers Trust Company
Financial Institutions Group
25th floor
New York, New York  10006
Attention:  Glenn Minkoff

                                       12
<PAGE>

                                                                       ANNEX III

                                   EXHIBIT G
                                       TO
 AMENDED AND RESTATED AMENDED AND RESTATED MORTGAGE LOAN WAREHOUSING AGREEMENT
                            DATED AS OF May 25, 2000
                   BY AND AMONG AMERICAN HOME MORTGAGE CORP.,
                         MARINA MORTGAGE COMPANY, INC.,
                  FIRST UNION NATIONAL BANK AS ADMINISTRATIVE
                      AGENT AND THE LENDERS PARTY THERETO

                        Form of Borrowing Base Schedule
                        -------------------------------

  This Borrowing Base Schedule is furnished pursuant to the Amended and Restated
Mortgage Loan Warehousing Agreement dated as of May 25, 2000, as amended from
time to time, among the Companies, the Administrative Agent and the Lenders (the
"Agreement").  Unless otherwise defined herein, the terms used in this Borrowing
Base Schedule have the meanings ascribed thereto in the Agreement.

A.   Aggregate Unit Collateral Values of
     Eligible Mortgage Loans in Borrowing
     Base as of previous Borrowing Base
     Schedule delivered by the Companies               $____________

B.   Aggregate Unit Collateral Values of
     Eligible Mortgage Loans submitted for
     inclusion in Borrowing Base since
     previous Borrowing Base Schedule
     delivered by the Companies                        $____________

C.   Sum of (A plus B)  $____________

D.  Aggregate Unit Collateral Values of
    Eligible Mortgage Loans previously
    released by the Collateral Agent for
    which the full purchase price has been
    received by the Administrative Agent since
    previous Borrowing Base Schedule delivered
    by the Companies                                   $____________

                                       13
<PAGE>

E.  Aggregate Unit Collateral Values of
    Eligible Mortgage Loans more than
    thirty (30) days delinquent                        $____________

F.  Amount by which Aggregate Unit Collateral
    Values of Eligible Mortgage Loans
    withdrawn from the possession of the
    Collateral Agent under a trust receipt and not
    returned to the Collateral Agent exceeds
    $1,000,000                                         $____________

G.  Aggregate Unit Collateral Values of Eligible
    Mortgage Loans withdrawn from the possession
    of the Collateral Agent under a trust receipt
    more than 10 days prior to the date of this
    schedule and not returned to the Collateral Agent  $____________

H.  Aggregate Unit Collateral Values of
    Eligible Mortgage Loans withdrawn from
    the possession of the Collateral Agent and
    shipped to a custodian for pool formation more
    than 45 days prior to the date of this schedule, or
    shipped to an investor for purchase more than 90
    days prior to the date of this schedule, and not
    returned to the Collateral Agent or for which the
    full purchase price has not been received by the
    Administrative Agent                               $____________

I.  Amount by which Aggregate Unit Collateral
    Values of Eligible Mortgage Loans originated
    under state bond programs and withdrawn from
    the possession of the Collateral Agent and shipped
    to an investor for purchase more than 45 days prior
    to the date of this schedule, and not returned to the
    Collateral Agent or for which the full purchase
    price has not been received by the Administrative
    Agent, exceeds $15,000,000                         $____________

J.  Aggregate Unit Collateral Values of
    Eligible Repurchase Mortgage Loans
    submitted for inclusion in the Borrowing Base
    more than 270 days prior to the date of this
    schedule                                           $____________

K.  Amount by which Aggregate Unit Collateral Values
    of Eligible Mortgage Loans (other than Eligible
    Repurchase Mortgage Loans) submitted for inclusion
    in the Borrowing

                                       14
<PAGE>

    Base more than 90 days prior to the date
    of this Schedule exceeds ten percent
    (10%) of the Aggregate Facility Commitment         $____________

L.  Aggregate Unit Collateral Values of
    Eligible Mortgage Loans (other than Eligible
    Repurchase Mortgage Loans) submitted for
    inclusion in the Borrowing Base more than
    120 days prior to the date of this Schedule        $____________

M.  Aggregate Unit Collateral Values of
    Eligible Mortgage Loans the Required
    Documents for which have not been
    delivered to the Collateral Agent within
    ten (10) days after the submission of
    such Eligible Mortgage Loans for inclusion
    in the Borrowing Base                              $____________

N.  Amount by which Aggregate Unit Collateral
    Values of Eligible Mortgage Loans for
    which the Required Documents are not
    delivered upon, but within ten (10)
    days following, the submission
    of such Eligible Mortgage Loans for
    inclusion in the Borrowing Base exceeds
    (i) sixty-five percent (65%) of the Aggregate
    Facility Commitment during the last 5 or
    first 5 Business Days of each month or (ii)
    fifty percent (50%) of the Aggregate Facility
    Commitment during any other time                   $____________

O.  Amount by which Aggregate Unit Collateral
    Values of Eligible Repurchase Mortgage Loans
    exceeds $5,000,000                                 $____________

P.  Amount by which Aggregate Unit Collateral
    Values of Eligible Non-Conforming Mortgage
    Loans exceeds fifteen percent (15%) of the
    Aggregate Facility Commitment                      $____________

Q.  Sum of (D plus E plus F plus G plus H
    plus I plus J plus K plus L plus M plus N
    plus O plus P)                                     $____________

R.  Adjusted Collateral Value of the
    Borrowing Base (C minus Q)                         $____________

S.  Aggregate principal amount of Loans
    Outstanding                                        $____________

                                       15
<PAGE>

T.  Borrowing Base availability (R minus S;
    must equal or exceed zero)                         $____________

  The undersigned hereby certifies that, as of the date hereof:

(1)  I am the duly elected ____________________ of ____________________________;

(2)  The above schedule accurately states the Collateral Value of the Borrowing
     Base and the aggregate principal amount of Loans outstanding;

(3)  All Mortgage Loans included in the Borrowing Base as Eligible Mortgage
     Loans comply in all respects with the requirements of the definition of
     "Eligible Mortgage Loan"; and

(4)  I have no knowledge of the existence of any condition or event which
     constitutes an Event of Default under the Agreement.

Certified on behalf of the undersigned this _____ day of _________, 20___.

                              AMERICAN HOME MORTGAGE CORP.

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

                              MARINA MORTGAGE COMPANY, INC.

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

                                       16
<PAGE>

                                                                        ANNEX IV

                                   EXHIBIT I
                                       TO
 AMENDED AND RESTATED AMENDED AND RESTATED MORTGAGE LOAN WAREHOUSING AGREEMENT
                            DATED AS OF May 25 2000
                   BY AND AMONG AMERICAN HOME MORTGAGE CORP.,
                         MARINA MORTGAGE COMPANY, INC.,
                  FIRST UNION NATIONAL BANK AS ADMINISTRATIVE
                      AGENT AND THE LENDERS PARTY THERETO

                        Schedule of Permitted Other Debt
                       (Including Permitted Secured Debt)
                       ----------------------------------

Permitted Secured Debt:

  Mortgage warehousing facility in the maximum principal amount of $75,000,000
and having a 364-day term (as such term may be extended or renewed from time to
time) extended to one or both of the Companies by Morgan Stanley or an Affiliate
thereof; provided that a copy of the documentation creating and securing such
         --------
facility (and any amendments thereto from time to time) shall be provided by the
Companies to the Administrative Agent and the Lenders.

  [PAINEWEBBER/UBS FACILITY; DETAILS TO BE SUPPLIED BY COMPANIES]

  Such other secured indebtedness as the Companies may incur from time to time;
provided, that the amount, maturity, pricing, collateral and other terms and
--------
conditions of such indebtedness (and any modification thereof from time to time)
shall be subject to the prior consent and approval of the Required Lenders,
which consent and approval shall not be unreasonably withheld.

Permitted Other Debt:

  The Subordinated Indebtedness.

  Such unsecured indebtedness as the Companies may incur from time to time;
provided, that the amount, maturity, pricing and other terms and conditions of
--------
such indebtedness (and any modification thereof from time to time) shall be
subject to the prior consent and approval of the Required Lenders, which
consent and approval shall not be unreasonably withheld.

                                       17
<PAGE>

                                                                         ANNEX V

                                   EXHIBIT N
                                       TO
 AMENDED AND RESTATED AMENDED AND RESTATED MORTGAGE LOAN WAREHOUSING AGREEMENT
                            DATED AS OF May 25 2000
                   BY AND AMONG AMERICAN HOME MORTGAGE CORP.,
                         MARINA MORTGAGE COMPANY, INC.,
                  FIRST UNION NATIONAL BANK AS ADMINISTRATIVE
                      AGENT AND THE LENDERS PARTY THERETO

                    Form of Monthly Repurchased Loans Report
                    ----------------------------------------

                                       18

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