Document:

Q2 2003 Exhibit 10.20

                                           Exhibit 10.20

THIRD AMENDMENT TO CREDIT AGREEMENT

This THIRD AMENDMENT TO CREDIT AGREEMENT is made
and entered into as of July 14, 2003 (as it may be modified, supplemented or
amended from time to time in accordance with its terms, this
"Amendment") by and among E-LOAN AUTO FUND ONE, LLC, a
Delaware limited liability company (the "Borrower"), E-LOAN,
INC., a Delaware corporation (the "E-Loan"), and MERRILL
LYNCH BANK USA, an industrial loan company organized under the laws of Utah
(together with its successors and assigns, the "Lender").

BACKGROUND

WHEREAS, the Borrower, E-Loan and the Lender entered into
a Credit Agreement dated as of June 1, 2002, as amended by the First
Amendment dated as of June 16, 2002 and as amended by the Second Amendment dated
as of June 3, 2003 (as further amended, supplemented and otherwise modified, the
"Existing Credit Agreement"), pursuant to which the Lender
extended financing to the Borrower on the terms and conditions set forth
therein;

WHEREAS, the parties to the Existing Credit Agreement
desire to amend the Existing Credit Agreement to, inter alia (i) extend
the Commitment Expiration Date, (ii) amend and restate Section 8.1 in its
entirety and (iii) to add certain reporting requirements;

NOW, THEREFORE, in consideration of the premises and
the mutual agreements herein contained, the parties hereto agree as follows:

	Defined Terms.  Capitalized terms used in this
Amendment and not otherwise defined herein shall have the meanings assigned to
them in the Existing Credit Agreement.

	Amendment.  Effective upon the execution and
delivery of this Amendment:

	Section 2.4.2 of the Existing Credit Agreement shall be
amended and restated in its entirety as follows:

The Borrower shall repay to the Lender, in respect of the
outstanding Aggregate Loan Balance, on each Payment Date (x) all Principal
Collections and the principal portion of any and all Recoveries and (y) any
Principal Shortfall.  From and after the occurrence of an Event of Default, all
amounts on deposit in the Collection Account as of the last day of the
immediately preceding Monthly Period, after payment of amounts then due and
payable pursuant to clauses (a) through (c) of Section 8.1, shall be applied
against the entire outstanding Aggregate Loan Balance (whether or not such
principal is then due).

	Section 2.5.1 of the Existing Credit Agreement is hereby
amended and supplemented by adding the following sentence as the penultimate
sentence thereof:

Upon delivery by the Borrower or the Administrator to the
Lender of an irrevocable notice to be delivered not less than five (5) Business
Days prior to the proposed date of such repayment, the Borrower shall have the
right to repay on any Payment Date from and after the Commitment Expiration
Date, in immediately available funds, the entire then outstanding principal of
all Advances together with any and all accrued and unpaid interest thereon, any
and all amounts due and payable under each Hedge Agreement, and any and all
other amounts due and payable in respect of the Obligations (for the avoidance
of doubt, after payment in full of such amounts, the Lender shall have no right
to exercise any Call Option in respect of the Receivables securing such Advances
or to direct the sale of the Receivables securing such Advances pursuant to
Section 2.8).

	the proviso in clause (b) of Section 2.5.2 of the
Existing Credit Agreement shall be amended and restated in its entirety as
follows:

; provided that such release will not result in either
(x) the Aggregate Loan Balance on such day of repayment being greater than the
Credit Facility Limit on such day or (y) the Aggregate Loan Balance on such day
of repayment being greater than the Target Loan Balance on such day.

	the phrase "together with any Breakage Fee then
payable" in Section 2.5.3 of the Exiting Credit Agreement is hereby deleted
in its entirety.

	the parenthetical phrase "(including any Breakage
Fee)" in each of Section 2.5.4 and Section 2.6.3 of the Existing Credit
Agreement is hereby deleted in its entirety. 

	each of the reference to "Breakage Fee" in
Section 3.2 of the Existing Credit Agreement and the reference to "Breakage
Fee(s)" in Section  3.6 of the Existing Credit Agreement is hereby
deleted.

	Section 7.1.1(y) of the Existing Credit Agreement shall
be amended and restated in its entirety as follows:

two Business Days prior to each Payment Date, the Borrower
shall deliver (or cause to be delivered) to the Lender and the Servicer, in both
written and electronic format, (i) a Monthly Servicer Report (in the form
of Exhibit F and which will contain, among other things, the performance of the
Collateral by Tranche), and (ii) a Schedule of Contracts (in electronic format
as Appendix A) corresponding to the Eligible Contracts comprising the Collateral
pledged to the Lender, listing by Tranche and Obligor all Receivables together
with a report setting forth the delinquency status of each receivable in a form
acceptable to the Lender and (iii) a Monthly Distribution Statement to be
certified by an officer of each of the Administrator and the Borrower;

	the Existing Credit Agreement shall be amended and
supplemented by adding the following Section 7.1.1(ee):

(ee)as of any date of determination, not more than five
percent (5%) of the Aggregate Outstanding Balance is comprised of Contracts
originated in person-to-person transactions.

	the Existing Credit Agreement shall be amended and
supplemented by adding the following Section 7.1.1(ff):

(ff)as of any date of determination, not more than two
percent (2%) of the Aggregate Outstanding Balance is comprised of Vehicles that
are motorcycles.

	the Existing Credit Agreement shall be amended and
supplemented by adding the following Section 7.1.2:

In order to induce the Lender to make Advances on the terms
and conditions set forth in this Agreement, in connection with the first Six
Hundred Million Dollars ($600,000,000) of Receivables subject to one or more
Securitizations, each of E-Loan, Inc. and the Borrower agrees to pay, or cause
to be paid, to the Lender, on each payment date of each such Securitization, an
amount equal to the product of (x) five percent (5%), (y) the residual
distribution of the issuer under each such Securitization and (z) the Lender's
Residual Percentage of such Securitization.  The Borrower, E-Loan, Inc. and the
Lender shall structure each such Securitization so that the residual
distribution will not represent any overcollateralization (which shall be the
difference between the principal balance of the Receivables included in such
Securitization minus the original principal balance of the asset-backed
securities collateralized by such Receivables).  This Section 7.1.2 shall
survive the termination of this Agreement and the repayment of the
Obligations.

	Section 8.1 of the Existing Credit Agreement shall
be amended and restated in its entirety as follows:

The Borrower shall hold (or cause to be held) in the
Collection Account any and all amounts deposited therein from time to time in
trust for the Lender and shall not withdraw any amount from the Collection
Account, other than (i) any amount which is not contemplated to be deposited
into the Collection Account pursuant to the terms of this Agreement and the
other Credit Documents and (ii) in accordance with this Section 8.1.  The
Borrower and the Lender hereby agree that, pursuant to the Administration
Agreement, the Administrator shall apply (or cause to be applied) the monies on
deposit in the Collection Account as of the last day of the immediately
preceding Monthly Period (including, for greater certainty, any interest earned
thereon and credited to the Collection Account) on each Payment Date (unless
otherwise specifically stated below) as follows and as may be more particularly
set forth in the related Monthly Distribution Statement:

	first, to each Hedge Counterparty, pro rata, any
payments, if any, due under any Hedge Agreement;

	second, to the Servicer, the Custodian and the
Administrator, pro rata, the Servicing and Custodian Fee and the
Administrator Fee, respectively;

	third, to the Lender Account (or as the Lender may
otherwise direct in writing to the Borrower and the Administrator), an amount
equal to all interest on each related Advance which has accrued hereunder for
the related Interest Period and which is due or remains unpaid on such Payment
Date;

	fourth, to the Lender Account (or as the Lender may
otherwise direct in writing to the Borrower and the Administrator) any and all
Principal Collections, the principal portion of any and all Recoveries, and
other amounts (other than Principal Shortfalls) that the Borrower is required to
or has agreed to make pursuant to Section 2.4 or Section 2.5, as applicable, to
the extent not already paid by or on behalf of the Borrower;

	fifth, to the Lender Account (or as the Lender may
otherwise direct in writing to the Borrower and the Administrator), pro
rata among all Tranches based on the Outstanding Tranche Collateral Balance
as of the last day of the previous Monthly Period, the Principal Shortfall, if
any;

	sixth, to the Servicer, the Custodian and the
Administrator, pro rata, any and all amounts due and payable under the
Servicing and Custodian Agreement or the Administration Agreement
(respectively), to the extent not already paid hereunder or by or on behalf of
the Borrower;

	seventh, to the Borrower (or as the Borrower may
otherwise direct in writing to the Administrator), any Servicing Fee Savings
Amount;  and

	eighth, (x) to the extent of any proceeds from any
Securitization in excess of the net payoff amount therefor or the proceeds of
any whole loan sale in accordance with this Agreement or in connection with any
prepayment of the entire outstanding principal balance of all Advances pursuant
to Section 2.5.1, to the Borrower's Account (or as the Borrower may otherwise
direct in writing to the Administrator), any balance remaining in the Collection
Account and (y) to the Borrower or its assignee and the Lender, pro rata,
the Borrower's Percentage of any balance remaining in the Collection Account to
the Borrower's Account (or as the Borrower may otherwise direct in writing to
the Administrator) and the Lender's Percentage of any balance remaining in the
Collection Account to the Lender's Account (or as the Lender may otherwise
direct in writing to the Borrower and the Administrator); provided that
(1) after the occurrence of an Event of Default, no amount shall be paid to the
Borrower from the Collection Account until such time as the Obligations are
repaid in full and until such payment in full, all amounts in the Collection
Account shall be paid to the Lender on account of the Obligations and (2) during
the continuance of a Pending Event of Default, all amounts payable to the
Borrower pursuant to this Section 8.1(g) shall be held on deposit in the
Collection Account for application on the immediately following Payment Date
pursuant to Section 8.1.

	The proviso set forth in the second sentence of Section
12.7.1 is hereby amended and restated in its entirety as follows:

; provided that, prior to the occurrence or
continuance of a Pending Event of Default, Event of Default or Servicer Default,
the Borrower shall not be required to reimburse the Lender for more than $50,000
per annum for any fees and expenses in connection with any inspections pursuant
to Section 7.1.1(q) of this Agreement.

	Schedule A of the Existing Credit Agreement shall be
amended and supplemented by adding the following defined term in appropriate
alphabetical order:

"30+ Day Delinquency Trigger Event" means
for a period of two consecutive months or more, either (i) the 30+ Day
Delinquency Ratio for any Tranche shall exceed 1.5% for one or more Tranches
with an aggregate Outstanding Tranche Collateral Balance of more than 25% of the
Aggregate Outstanding Balance, which excess shall remain uncured for a period of
one month or more, or (ii) the aggregate Outstanding Tranche Collateral Balance
of all 30+ Day Delinquent Contracts in any one Tranche shall exceed 2.5% of the
Outstanding Tranche Collateral Balance of such Tranche.  Such excess shall be
deemed to have been cured if, for a period of at least three consecutive months
from and after the occurrence of such 30+ Day Delinquency Trigger Event (i) the
30+ Day Delinquency Ratio for each Tranche does not exceed 1.5% for each Tranche
with an aggregate Outstanding Tranche Collateral Balance of more than 25% of the
Aggregate Outstanding Balance and (ii) the aggregate Outstanding Tranche
Collateral Balance of all 30+ Day Delinquent Contracts in any one Tranche does
not exceed 2.5% of the Outstanding Tranche Collateral Balance of such
Tranche.

	the defined term "Administrator Fee" in
Schedule A of the Existing Credit Agreement is hereby amended and restated in
its entirety as follows:

"Administrator Fee" means the compensation
payable to the Administrator for its services under the Administration Agreement
and for its service in providing on each Payment Date the duly completed Monthly
Distribution Statement, which amount shall not exceed $2,000 per month.

	the defined term "Annualized Net Loss" in
Schedule A of the Existing Credit Agreement is hereby amended and restated in
its entirety as follows:

"Annualized Net Loss" means, with respect to
any Tranche, an amount equal to the product of (i) 12 and (ii) the quotient of
(x) the Cumulative Net Losses, divided by (y) the number of months elapsed since
the issuance of such Tranche.

	the defined term "Annualized Net Loss Ratio" in
Schedule A of the Existing Credit Agreement is hereby amended and restated in
its entirety as follows:

"Annualized Net Loss Ratio" means, with
respect to any Tranche, the ratio of (x) the amount of all Annualized Net Losses
with respect to such Tranche, to (y) the quotient of (i) the sum of the current
Outstanding Tranche Collateral Balance and the Original Tranche Collateral
Balance, divided by (ii) two (2).

	Schedule A of the Existing Credit Agreement shall be
amended and supplemented by adding the following defined term in appropriate
alphabetical order:

"Borrower's Percentage" means, for each
Payment Date, an amount equal to (x) 100% minus (y) the Lender's Percentage for
such Payment Date.

	the defined term "Commitment Expiration Date"
in Schedule A of the Existing Credit Agreement is hereby amended and restated in
its entirety as follows:

"Commitment Expiration Date" means July 13,
2005 (unless otherwise extended by the Lender in its sole discretion in
accordance with the terms and conditions of Section 2.1 of the Credit
Agreement).

	the defined term "Credit Facility Limit" in
Schedule A of the Existing Credit Agreement is hereby amended and restated in
its entirety as follows:

"Credit Facility Limit" means an amount
equal to Eight Hundred Million Dollars ($800,000,000).

	Schedule A of the Existing Credit Agreement shall be
amended and supplemented by adding the following defined term in appropriate
alphabetical order:

"Cumulative Net Losses" means, as of any
date of determination, with respect to a Tranche, the difference between (i) the
aggregate amount of all Defaulted Receivables in such Tranche and (ii) any
Recoveries in respect of the Defaulted Receivables in such Tranche.

	Schedule A of the Existing Credit Agreement shall be
amended and supplemented by adding the following defined term in appropriate
alphabetical order:

"Cumulative Net Loss Ratio" means, with
respect to a Tranche, the ratio of Cumulative Net Losses for such Tranche to
the aggregate Original Tranche Collateral Balance of such Tranche.

	Schedule A of the Existing Credit Agreement shall be
amended and supplemented by adding the following defined term in appropriate
alphabetical order:

"Cumulative Net Loss Ratio Excess" means,
for any Tranche, as of any date of determination, the Cumulative Net Loss Ratio
of such Tranche exceeds the amount set forth in Column B of Exhibit 1 for the
related month of seasoning of such Tranche set forth in Column A of Exhibit
1.

	Schedule A of the Existing Credit Agreement shall be
amended and supplemented by adding the following defined term in appropriate
alphabetical order:

"Cumulative Net Loss Trigger Event" means
for a period of two consecutive months or more, an event or condition with
respect to all such Tranches determined to have a Cumulative Net Loss Ratio
Excess, where the quotient of (x) the sum of the current Outstanding Tranche
Collateral Balances of all such Tranches, divided by (y) the Aggregate
Outstanding Balance of all Tranches, shall be equal to or greater than fifty
percent (50%).  Such excess shall be deemed to have been cured if, for a period
of at least three consecutive months from and after the occurrence of such
Cumulative Net Loss Trigger Event, the quotient of (x) the sum of the current
Outstanding Tranche Collateral Balances of all Tranches determined to have a
Cumulative Net Loss Ratio Excess, divided by (y) the Aggregate Outstanding
Balance of all Tranches, is less than fifty percent (50%).

	Schedule A of the Existing Credit Agreement shall be
amended and supplemented by adding the following defined term in appropriate
alphabetical order:

"Lender's Percentage" means, for each
Payment Date, an amount equal to the product of (x) the quotient of (i) the
Outstanding Balance of all Shared Distribution Receivables as of the last day of
the immediately preceding Monthly Period, divided by (ii) the Aggregate
Outstanding Balance as of the last day of the immediately preceding Monthly
Period, multiplied by (y) fifteen percent (15%).

	Schedule A of the Existing Credit Agreement shall be
amended and supplemented by adding the following defined term in appropriate
alphabetical order:

"Lender's Residual Percentage" means, with
respect to any Securitization, a percentage equal to the lesser of (a) 100% and
(b) the quotient (expressed as a percentage) of (i) Six Hundred Million Dollars
($600,000,000) minus the sum of the principal balances of all Receivables
subject to all Securitizations closing prior to the date of such Securitization,
divided by (ii) the principal balance of all Receivables subject to such
Securitization; provided, however, that if the difference calculated pursuant to
clause (i) above is a negative number, then clause (i) shall be deemed to be
zero.

	Schedule A of the Existing Credit Agreement shall be
amended and supplemented by adding the following defined term in appropriate
alphabetical order:

"Monthly Distribution Statement" means a
statement created by the Administrator for each Payment Date which shall detail
the amounts to be paid pursuant to Section 8.1 and shall also provide a covenant
compliance summary together with all supporting documentation regarding the
information described therein, in each case in a form and substance satisfactory
to the Lender, setting forth the status of each of the Trigger Events and the
covenants contemplated by Sections 2.6.2, 3.7(d), 7.1.1(dd), 7.1.1(ee),
7.1.1(ff), 7.2.1(u), 7.2.1(v), 7.2.1(w), 7.2.1(x), 7.3(b), 7.3(c), 7.3(e) and
7.3(f) of this Agreement and items (viii) and (xv) of Schedule J of this
Agreement, in each case as of the last day of the immediately preceding Monthly
Period.

	the defined term "Outstanding Tranche Collateral
Balance" in Schedule A of the Existing Credit Agreement is hereby amended
and restated in its entirety as follows:

"Outstanding Tranche Collateral Balance"
means, as of the related date of calculation, with respect to the Receivables
forming part of the Related Tranche Collateral for any Tranche, the aggregate
Outstanding Balance of all such Receivables forming part of such Related Tranche
Collateral on such day less the aggregate principal balance of all Defaulted
Receivables forming part of such Related Tranche Collateral on such day.  With
respect to any calculation of the covenants set forth in clauses (u) through (x)
of Section 7.2.1, the related date of calculation shall be the last day the
immediately preceding Monthly Period.

	Schedule A of the Existing Credit Agreement shall be
amended and supplemented by adding the following defined term in appropriate
alphabetical order:

"Principal Collections" means, with respect
to each Monthly Period, all Collections in respect of principal paid by or on
behalf of an Obligor.

	Schedule A of the Existing Credit Agreement shall be
amended and supplemented by adding the following defined term in appropriate
alphabetical order:

"Principal Shortfall" means, for each
Payment Date, an amount equal to the excess (if any) between (i) the Aggregate
Loan Balance as of the last day of the immediately preceding Monthly Period
after giving effect to Principal Collections and Recoveries applied according to
Section 8.1(d) on the current Payment Date and (ii) the Target Loan Balance.

	Schedule A of the Existing Credit Agreement shall be
amended and supplemented by adding the following defined term in appropriate
alphabetical order:

"Recoveries" means, with respect to any
Receivable that has become a Defaulted Receivable, all monies collected by E-
Loan, Inc., the Servicer, the Borrower or the Administrator (from whatever
source, including but not limited to proceeds of a deficiency balance or
insurance proceeds) on such Defaulted Receivable, net of any expenses incurred
by the Servicer in connection therewith and any payments required by law to be
remitted to the Obligor.

	the defined term "Servicing and Custodian
Fee" in Schedule A of the Existing Credit Agreement is hereby amended and
restated in its entirety as follows:

"Servicing and Custodian Fee" has the
meaning attributed to such term in the Servicing and Custodian Agreement, and
which, in any event shall not exceed on each Payment Date an amount equal to the
product of (i) 0.50%, (ii) 1/12 and (iii) the Aggregate Outstanding Balance as
of the last day of the immediately preceding Monthly Period.

	Schedule A of the Existing Credit Agreement shall be
amended and supplemented by adding the following defined term in appropriate
alphabetical order:

"Servicing Fee Savings Amount" means, for
each Payment Date, an amount equal to the excess (if any) of (a) the product of
(i) 0.50%, (ii) 1/12 and (iii) the Aggregate Outstanding Balance as of the last
day of the immediately preceding Monthly Period over (b) the amount of the
Servicing and Custodian Fee actually paid to the Servicer (and the Custodian, if
applicable) on such Payment Date pursuant to the Servicing and Custodian
Agreement.

	Schedule A of the Existing Credit Agreement shall be
amended and supplemented by adding the following defined term in appropriate
alphabetical order:

"Shared Distribution Receivables" means all
Receivables representing the first $800,000,000 of Receivables that have not
become Defaulted Receivables (based on Original Tranche Collateral Balance) and
have been pledged under the Credit Agreement.

	clause (d) of the defined term "Sold Assets" in
Schedule A of the Existing Credit Agreement is hereby amended and restated in
its entirety as follows:

(d)any agreements in connection with a person-to-person
transaction, a Dealer, an Eligible Non-Franchise Dealer or manufacturer of a
Financed Vehicle to the extent any such agreement relates to such Financed
Vehicle and any payments, income and proceeds from recourse to person-to-person
transaction, Dealers, Eligible Non-Franchise Dealers or manufacturers with
respect to the Receivables; and

	Schedule A of the Existing Credit Agreement shall be
amended and supplemented by adding the following defined term in appropriate
alphabetical order:

"Target Loan Balance" means, for each
Payment Date, the product of (x) the Aggregate Outstanding Balance as of the
last day of the immediately preceding Monthly Period and (y) if no Trigger Event
has occurred and is continuing, then Ninety-Nine and One-Half Percent (99.5%)
or, if a Trigger Event has occurred and is continuing, then Ninety-Eight and
One-Half Percent (98.5%).

	clause (iii) of the defined term "Termination
Date" in Schedule A of the Existing Credit Agreement is hereby amended and
restated in its entirety as follows:

(iii) [reserved],

	Schedule A of the Existing Credit Agreement shall be
amended and supplemented by adding the following defined term in appropriate
alphabetical order:

"Trigger Event" means (i) a 30+ Day
Delinquency Trigger Event or (ii) a Cumulative Net Loss Trigger Event.

	the defined term "Vehicle" in Schedule A of the
Existing Credit Agreement is hereby amended and restated in its entirety as
follows:

"Vehicle" means a new or used motorcycle,
passenger automobile, sport utility vehicle, light-duty truck, van or minivan
which has been purchased or financed by an Obligor pursuant to the provisions of
a Contract.

	Schedule J of the Existing Credit Agreement is hereby
amended and restated in its entirety in the form attached hereto as Schedule
J.

	the Existing Credit Agreement is hereby amended and
supplemented by adding Schedule I-a in appropriate order and in the form
attached hereto as I-a.

	the Existing Credit Agreement is hereby amended and
supplemented by adding Exhibit 1 in the form attached hereto as Exhibit
1.

	Conditions Precedent.  The effectiveness of this
Amendment is subject to (a) the due authorization, execution and delivery by the
parties hereto of this Amendment (including, without limitation, the
acknowledgment and agreement by Systems & Services Technologies, Inc.) and
(b) the due authorization, execution and delivery by the parties to the Third
Amendment to the Loan Agreement, dated July 14, 2003, between E-Loan, Inc. and
Merrill Lynch Mortgage Capital Inc.

	Representations, Warranties & Covenants.   The
Borrower hereby confirms that each of its representations, warranties and
covenants set forth in the Existing Credit Agreement, as amended by this
Amendment, are true and correct as of the date first written above with the same
effect as though each had been made as of such date, except to the extent that
any of such representations, warranties or covenants expressly relate to earlier
dates.  Except as expressly amended by the terms of this Amendment, all terms
and conditions of the Credit Agreement and the other Credit Documents shall
remain in full force and effect and E-Loan and the Borrower hereby ratify their
respective obligations thereunder.

	The Borrower confirms that as of the date hereof its
obligations under the Existing Credit Agreement, as amended by this Amendment,
and the other Credit Documents are in full force and effect and are hereby
ratified.  The Borrower represents and warrants that (i) the Termination Date
has not occurred and no Pending Event of Default or Event of Default has
occurred, (ii) it has the power and is duly authorized to execute and deliver
this Amendment, (iii) this Amendment has been duly authorized, executed and
delivered and constitutes the legal, valid and binding obligation of it
enforceable against it in accordance with its terms, (iv) it is and will
continue to be duly authorized to perform its obligations under this Amendment
and the other Credit Documents, (v) the execution, delivery and performance by
it of this Amendment does not and will not require any consent or approval,
which has not already been obtained, from any Governmental Authority, equity
owner or any other Person, and (vi) the execution, delivery and performance by
it of this Amendment shall not result in the breach of, or constitute a default
under, any material agreement or instrument to which it is a
party.

	Severability.  Any provision of this Amendment
which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions of this Amendment
or affecting the validity or enforceability of such provision in any other
jurisdiction.

	Governing Law.  THIS AMENDMENT SHALL BE CONSTRUED
IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT
REGARD TO CONFLICT OF LAW PRINCIPLES; PROVIDED, THAT SECTIONS 5-1401 AND
5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY, AND THE OBLIGATIONS,
RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK.

	Miscellaneous.  

	The parties hereto hereby agree that the amendments set
forth in this Amendment shall be incorporated into the Existing Credit
Agreement.  This Amendment constitutes the entire agreement concerning the
subject matter hereof and supercedes any and all written and/or oral prior
agreements, negotiations, correspondence, understandings and
communications.

	Any reference to the Existing Credit Agreement from and
after the date hereof shall be deemed to refer to the Existing Credit Agreement
as amended hereby, unless otherwise expressly stated.

	This Amendment shall be binding upon and shall be
enforceable by parties hereto and their respective successors and permitted
assigns.

	This Amendment may be executed by the parties hereto in
several counterparts, each of which shall be deemed to be an original but all of
which shall constitute together but one and the same agreement.

	The headings appearing in this Amendment are included
solely for convenience of reference and are not intended to affect the
interpretation of any other provision of this Amendment.

	Perfection Opinion. The Borrower acknowledges and
agrees that (x) the Lender may require an opinion of counsel, in form and
substance satisfactory to the Lender and its counsel, that all filings,
registrations and recordings to perfect the security interest of the Lender in
the Collateral in all offices and in all jurisdictions where required by
applicable law to do so have been duly made on a timely basis (the
"Perfection Opinion"), and (y) although the Lender is not requiring
delivery of a Perfection Opinion in connection with the extension of the
Commitment Termination Date pursuant to this Amendment, no course of dealing
shall be implied and the Lender, without prejudice, reserves the right to
require such Perfection Opinion.

	Section 4.2(h) of Contribution and Sale Agreement.
The parties hereby agree that Section 4.2(h) of the Contribution and Sale
Agreement is hereby deleted in its entirety.

[signature page follows.]

IN WITNESS WHEREOF, the parties have caused this
Amendment to be executed by their respective officers thereunto duly authorized
as of the day and year first above written.

E-LOAN AUTO FUND ONE, LLC, as Borrower

By:____/s/__________________________

Name:  Matt Roberts

Title:  Treasurer

E-LOAN, INC.

By:___/s/___________________________

Name:  Joseph J. Kennedy

Title:  President

MERRILL LYNCH BANK USA, as Lender

By:___/s/___________________________

Name:  Joseph Magnus

Title:  Director

ACKNOWLEDGED AND AGREED:

SYSTEMS & SERVICES TECHNOLOGIES,

INC., as Servicer and Custodian

By:___/s/___________________________

Name:  Joseph Booz

Title:   EVP/Secretary

* Exhibits and schedules have been omitted in accordance with Item 601 of Regulation S-K,
and will be provided upon request.Q2 2003 Exhibit 10.21

                                           Exhibit 10.21

SECOND AMENDMENT TO SERVICING AND CUSTODIAN AGREEMENT

This SECOND AMENDMENT TO SERVICING AND CUSTODIAN
AGREEMENT is made and entered into as of July 14, 2003 (as it may be
modified, supplemented or amended from time to time in accordance with its
terms, this "Amendment") by and among E-LOAN AUTO FUND ONE,
LLC, a Delaware limited liability company (the "Company"),
E-LOAN, INC., a Delaware corporation, as administrator for the Company
(in such capacity, the "Administrator") and in its individual
capacity (in such capacity, the "Originator") for purposes of
Article X of the Existing Servicing Agreement (as defined below), Systems
& Services Technologies, Inc., a corporation organized under the laws of
the State of Delaware, its permitted successors and assigns (hereinafter
referred to as "SST"), as servicer and custodian (in such
capacities, the "Servicer" and the
"Custodian", respectively) to the Existing Servicing Agreement
(as defined below).

BACKGROUND

WHEREAS, the Company, the Originator, the Administrator
and the Servicer entered into a Servicing and Custodian Agreement dated as of
June 1, 2002 (as amended, supplemented and otherwise modified, the
"Existing Servicing Agreement"), pursuant to which the Servicer
and the Custodian agreed to provide, inter alia, certain portfolio
management services and custodial services on the terms and conditions set forth
therein;

WHEREAS, the parties to the Existing Servicing
Agreement desire to amend the Existing Servicing Agreement to (i) amend a cross
reference in clause I. 6. of Article XV of the Existing Servicing Agreement and
(ii) extend the term of the Existing Servicing Agreement for an additional
year;

NOW, THEREFORE, in consideration of the premises and
the mutual agreements herein contained, the parties hereto agree as follows:

	Defined Terms.  Capitalized terms used in this
Amendment and not otherwise defined herein shall have the meanings assigned to
them in the Existing Servicing Agreement.

	Amendment.  Effective upon the execution and
delivery of this Amendment:

	Clause A. of Article XI of the Exiting Servicing
Agreement is hereby amended and restated in its entirety as follows

The term of this Agreement shall be for three (3) years from
the date first written above and will automatically renew for additional
successive one (1) year terms unless the Company or the Servicer shall upon
ninety (90) days written notice elect not to renew the Agreement.

	Clause I. 6. of Article XV of the Exiting Servicing
Agreement is hereby amended and restated in its entirety as
follows:

Without limiting paragraph H. of Article XV, upon written
request of the Secured Party, the Custodian shall take such steps as reasonably
requested by the Secured Party to protect or maintain any security interest the
Secured Party has in any Receivable and the other Serviced Assets, provided
that, as long as the Servicer and the Custodian are the same person, any
extraordinary fees and expenses incurred by the Custodian and, upon the request
of the Company or the Secured Party to retitle or otherwise act to protect or
maintain any security interest in all or substantially all of the Receivables
and the other Serviced Assets, a reasonable fee to compensate the Custodian for
such services will be paid from Collections pursuant to Section 8.1.1(f) or
8.1.2(e), as the case may be, of the Credit Agreement; provided that if a
Servicer Event of Default shall have occurred and been continuing, such
retitling or other actions shall be at the expense of the Custodian;

	Representations, Warranties & Covenants.
Each party hereto hereby confirms that each of its representations, warranties
and covenants set forth in the Existing Servicing Agreement, as amended by this
Amendment, are true and correct as of the date first written above with the same
effect as though each had been made as of such date, except to the extent that
any of such representations, warranties or covenants expressly relate to earlier
dates.  Each party hereto confirms that as of the date hereof its obligations
under the Existing Servicing Agreement, as amended by this Amendment, and the
other Credit Documents are in full force and effect and are hereby
ratified.

	Each of the Servicer and the Custodian represents and
warrants that (i) no Servicer Event of Default has occurred or, event which,
but for the requirement for the giving of notice, lapse of time, or
both, or but for the satisfaction of any other condition subsequent to such
event, would constitute a Servicer Event of Default has occurred, (ii) it
has the power and is duly authorized to execute and deliver this Amendment,
(iii) this Amendment has been duly authorized, executed and delivered and
constitutes the legal, valid and binding obligation of it enforceable against it
in accordance with its terms, (iv) it is and will continue to be duly authorized
to perform its obligations under this Amendment and the other Credit Documents,
(v) the execution, delivery and performance by it of this Amendment does not and
will not require any consent or approval, which has not already been obtained,
from any Governmental Authority, equity owner or any other Person, and (vi) the
execution, delivery and performance by it of this Amendment shall not result in
the breach of, or constitute a default under, any material agreement or
instrument to which it is a party.

	Each of the Servicer and the Custodian hereby acknowledge
and agree to the terms and conditions of the Third Amendment to the Credit
Agreement, dated as of July 14, 2003 (the "Third Amendment"), by
and among the Company, E-Loan, Inc. and the Lender to the Credit
Agreement.

	Conditions Precedent.  As conditions precedent to
the effectiveness of this Amendment (1) each of the parties hereto shall have
executed this Amendment and (2) the Third Amendment shall have been executed and
delivered.

	Severability.  Any provision of this Amendment
which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions of this Amendment
or affecting the validity or enforceability of such provision in any other
jurisdiction.

	Governing Law.  THIS AMENDMENT SHALL BE CONSTRUED
IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT
REGARD TO CONFLICT OF LAW PRINCIPLES; PROVIDED, THAT SECTIONS 5-1401 AND
5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY, AND THE OBLIGATIONS,
RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK.

	Miscellaneous.  

	The parties hereto hereby agree that the amendments set
forth in this Amendment shall be incorporated into the Existing Servicing
Agreement.  This Amendment constitutes the entire agreement concerning the
subject matter hereof and supercedes any and all written and/or oral prior
agreements, negotiations, correspondence, understandings and
communications.

	Any reference to the Existing Servicing Agreement from
and after the date hereof shall be deemed to refer to the Existing Servicing
Agreement as amended hereby, unless otherwise expressly stated.

	This Amendment shall be binding upon and shall be
enforceable by parties hereto and their respective successors and permitted
assigns.

	This Amendment may be executed by the parties hereto in
several counterparts, each of which shall be deemed to be an original but all of
which shall constitute together but one and the same agreement.

	The headings appearing in this Amendment are included
solely for convenience of reference and are not intended to affect the
interpretation of any other provision of this Amendment.

[Remainder of page intentionally left blank.]

IN WITNESS WHEREOF, the parties hereto have caused
this Agreement to be executed as of the date first written above.
SERVICER AND CUSTODIAN:

SYSTEMS & SERVICES TECHNOLOGIES, INC.

By:     /s/

Name:   Joseph Booz

Its:   EVP/Secretary

 

COMPANY:

E-LOAN AUTO FUND ONE, LLC

By:     /s/

Name:   Matt Roberts

Its:   Treasurer

 

ORIGINATOR AND ADMINISTRATOR:
E-LOAN, INC.

By:     /s/

Name:   Joseph J. Kennedy

Its:   President

ACKNOWLEDGED AND AGREED:

MERRILL LYNCH BANK USA 

By:___/s/___________________________

Name:  Joseph Magnus

Title:  Director

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