Document:

EXHIBIT 10.18.3

                                    GUARANTY

      This GUARANTY, dated as of March 10, 2006, is made by AMERICAN HOME
MORTGAGE INVESTMENT CORP., a corporation organized under the laws of the State
of Maryland ("Guarantor"), in favor of Barclays Bank PLC (the "Buyer").

      As an inducement and in consideration for Buyer to enter into that certain
letter agreement, dated as of March 10, 2006 (the "Letter Agreement") by and
among American Home Mortgage Acceptance, Inc. ("Seller") and Buyer, to the
Master Repurchase Agreement, dated as of March 10, 2006, as amended from time to
time (the "Master Repurchase Agreement"; the Master Repurchase Agreement and the
Letter Agreement, collectively, the "Agreement"; capitalized terms used herein
but not defined herein shall have the meanings given in the Agreement) between
Buyer and the Seller, a wholly-owned subsidiary of the Guarantor, the Guarantor
hereby unconditionally and irrevocably guarantees the punctual payment and
performance when due, whether at stated maturity, by acceleration or otherwise,
of all obligations of the Seller now or hereafter existing under the Agreement
with respect to any and all Transactions for the Mortgage Loans (such
obligations being the "Obligations"), and agrees to pay any and all expenses
incurred by Buyer in enforcing any rights under this Guaranty. This Guaranty is
a guaranty of payment and not of collection. Buyer shall not be required to
exhaust any right to remedy or take any action against Seller, any guarantor,
any other person, any collateral or any credit support.

      The Guarantor guarantees that the Obligations will be paid or performed
strictly in accordance with their terms. The liability of the Guarantor under
this Guaranty shall be absolute and unconditional irrespective of any defense
whatsoever available to Seller or the Guarantor, including, but not limited to,
the following: (a) any lack of validity or enforceability or any Obligation or
any agreement or instrument related thereto; (b) any change in the time, manner
or place of payment or performance of, or in any term of, all or any of the
Obligations, or any other amendment or waiver of or any consent to the departure
from any Obligation or any agreement or instrument related thereto; (c) any
exchange, release or non-perfection of any collateral, or any release or
amendment or waiver of or consent to departure from any other guaranty, for all
or any of the Obligations; or (d) any law, regulation or order of any
jurisdiction affecting or purporting to affect any terms of any Obligation or of
any agreement or instrument relating thereto or any of Buyer's rights with
respect thereto (including, without limitation, any stay imposed by the Federal
bankruptcy laws).

      This Guaranty is a continuing guaranty and shall remain in full force and
effect until the Obligations have been paid in full.

      The Guarantor hereby waives promptness, diligence, notice of acceptance,
creation, renewal, extension and any other notice with respect to any of the
Obligations or this Guaranty. This Guaranty shall continue to be effective or be
reinstated, as the case may be, if any payment of any of the Obligations is
rescinded or must otherwise be returned by Buyer upon the insolvency, bankruptcy
or reorganization of Seller or otherwise, all as though such payment had not
been made.

<PAGE>

      The Guarantor hereby expressly waives all set offs and counterclaims and
all presentments, demands for payment, demands for performance, notices of
nonperformance, protests, notices of protest, notices of dishonor of this
Guaranty, notices of sale, notice of default or nonpayment to or upon the Seller
or the Guarantor, surrender or other handling or disposition of assets subject
to the Master Repurchase Agreement, any requirement that Buyer exhaust any
right, power or remedy or take any action against the Seller or against any
assets subject to the Master Repurchase Agreement, and other formalities of any
kind.

      Upon the occurrence of any Event of Default, the Guarantor hereby
irrevocably authorizes the Buyer at any time and from time to time without
notice to the Guarantor, any such notice being expressly waived by the
Guarantor, to set off and apply any and all deposits (general or special, time
or demand, provisional or final), in any currency, and any other credits,
indebtedness or claims, in any currency, in each case whether direct or
indirect, absolute or contingent, matured or unmatured, at any time held or
owing by the Buyer to or for the credit or the account of the Guarantor, or any
part thereof in such amounts as the Buyer may elect, against and on account of
the obligations and liabilities of the Guarantor to the Buyer hereunder, in any
currency, whether arising hereunder, under the Master Repurchase Agreement, or
other Program Document, as the Buyer may elect, whether or not the Buyer has
made any demand for payment and although such obligations, liabilities and
claims may be contingent or unmatured. The Buyer shall notify the Guarantor
promptly of any such set off and the application made by the Buyer, provided
that the failure to give such notice shall not affect the validity of such set
off and application. The rights of the Buyer under this Section are in addition
to other rights and remedies (including, without limitation, other rights of set
off) which the Buyer may have herein.

      The Guarantor will not exercise any rights which it may acquire by way of
subrogation under this Guaranty, by any payment made hereunder or otherwise,
until 91 days following the date which all the Obligations shall have been paid
in full. If any amount shall be paid to the Guarantor on account of such
subrogation rights at any time when all the Obligations shall not have been paid
in full, such amount shall be held in trust for the benefit of Buyer and shall
forthwith be paid to Buyer to be applied to the Obligations, whether matured or
unmatured, in accordance with the terms of such Obligations and any related
agreement or instrument.

      Any and all payments made by the Guarantor hereunder shall be made free
and clear of and without deduction from any and all present and future taxes,
levies, deductions, charges or withholdings and all liabilities with respect
thereof, excluding taxes imposed on Buyer's income and franchise taxes imposed
on Buyer by the jurisdiction under which Buyer is organized.

      The Guarantor hereby represents and warrants to the Buyer that this
Guaranty has been duly and validly executed and delivered by Guarantor and
constitutes a legal, valid and binding obligation of Guarantor, enforceable
against Guarantor in accordance with its terms, except as enforceability may be
limited by applicable bankruptcy, insolvency, reorganization, moratorium or
similar laws affecting the enforcement of creditors' rights generally and by
general equitable principles (whether enforcement is sought by proceedings in
equity or at law).

      This Guaranty shall be binding upon the successors and assigns of the
Guarantor and shall inure to the benefit of the Buyer and its successors and
assigns. This Guaranty may not be assigned by the Guarantor without the express
written consent of the Buyer.

                                      -2-
<PAGE>

      All notices hereunder shall be in writing and sent or delivered:

if to Buyer:

Barclays Bank PLC
c/o Asset Securitization Group
200 Park Avenue
New York, NY  10166
Facsimile:  (212) 412-6846
Attn:  Mary Logan
       Janette Lieu
Email: mary.logan@barcap.com
       janette.lieu@barcap.com

if to the Guarantor:

538 Broadhollow Road
Melville, New York 11747
Attention:  General Counsel

or to either party at such other address(es) as may be specified in a written
notice given in accordance herewith.

      THIS GUARANTY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS (OTHER THAN CONFLICTS LAWS) OF THE STATE OF NEW YORK.

                                      -3-
<PAGE>

      IN WITNESS WHEREOF, the Guarantor has caused this Guaranty to be duly
executed and delivered by its duly authorized officers as of the date first
above written.

                                       AMERICAN HOME MORTGAGE
                                       INVESTMENT CORP.

                                       By:   /s/ Alan B. Horn
                                          --------------------------------------
                                          Name:  Alan B. Horn
                                          Title:  Executive Vice President,
                                                  General Counsel & Secretary

                                      -4-EXHIBIT 10.22.3

                              AMENDMENT NUMBER TWO
                                     to the
                    Mortgage Loan Purchase and Sale Agreement
                          dated as of January 1, 2004,
                                 by and between
                   GREENWICH CAPITAL FINANCIAL PRODUCTS, INC.
                                       and
                        AMERICAN HOME MORTGAGE CORP., and
        AMERICAN HOME MORTGAGE SERVICING, INC. (f/k/a Columbia National,
                                  Incorporated)

            This AMENDMENT NUMBER TWO is made this 28th day of September, 2005,
by and between GREENWICH CAPITAL FINANCIAL PRODUCTS, INC., having an address at
600 Steamboat Road, Greenwich, Connecticut 06830 (the "Purchaser") and AMERICAN
HOME MORTGAGE CORP. and AMERICAN HOME MORTGAGE SERVICING, INC. (fka Columbia
National, Incorporated), each having an address at 538 Broadhollow Road,
Melville, New York 11747 (collectively, the "Sellers"), to the Mortgage Loan
Purchase and Sale Agreement, dated as of January 1, 2004, by and between the
Purchaser and the Sellers (the "Agreement"). Capitalized terms used but not
otherwise defined herein shall have the meanings assigned to such terms in the
Agreement.

                                    RECITALS

            WHEREAS, the Purchaser and the Sellers desire to amend the
Agreement, subject to the terms hereof, to permit the Sellers to offer for
purchase to the Purchaser certain mortgage loans for which all of the mortgage
loan documents relating to such mortgage loans may not have been delivered to
the Purchaser or its designee at the time the Purchaser intends to purchase such
mortgage loans from the Seller.

            NOW THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, and of the mutual covenants herein
contained, the parties hereto hereby agree as follows:

      1. Effective as of September 28, 2005, all references in the Agreement to
a "Trust Receipt" shall be replaced with "Trust Receipt or Wet Trust Receipt, as
applicable".

      2. Effective as of September 28, 2005, Section 1 of the Agreement is
hereby amended as follows:

            (a) the definition of Defective Mortgage Loan is hereby deleted in
      its entirety and replaced with the following:

<PAGE>

            "Defective Mortgage Loan": With respect to any Mortgage Loan, either
            (i) the Document File does not contain a document required to be
            contained therein, (ii) a document within a Document File is, in the
            reasonable judgment of Purchaser or Takeout Investor, defective or
            inaccurate in any material respect, as determined upon evaluation of
            the Document File against the requirements of the Sale
            Agreement,(iii) a document in the Document File is not legal, valid
            and binding, (iv) as to such Mortgage Loan, one of the
            representations and warranties in Section 9 hereof has been breached
            and such breach materially and adversely affects the value of such
            Mortgage Loan or Purchaser's interest in such Mortgage Loan, or (v)
            all Required Documents with respect to a Wet Loan have not been
            received within 10 days after the related Purchase Date.

            (b) the following definition of Dry Loan is hereby added immediately
following the defined term Document File.

            "Dry Loan":  shall mean a Mortgage  Loan which  contains  all of
the Required Documents.

            (c) the following definition of Required Documents is hereby added
immediately following the defined term Rescission:

            "Required  Documents":  shall mean those documents identified on
            Exhibit A-1 of the Custodial Agreement.

            (d) the following definition of Wet Loan is hereby added immediately
      following the defined term Warehouse Line:

            "Wet Loan":  shall mean a  wet-funded  Mortgage  Loan which does
      not contain  all of the  Required  Documents  and which shall have the
      following additional characteristics:

            (i)   the proceeds thereof have been funded by the Seller prior to
                  the Purchase Date thereof;

            (ii)  the proceeds thereof have not been returned to the Seller by
                  the escrow or closing agent for such Wet Loan;

            (iii) upon recordation such Mortgage Loan will constitute a valid
                  and enforceable lien on the premises described therein; and

            (iv)  upon delivery of all of the documents specified on Exhibit A-1
                  of the Custodial Agreement, such Wet Loan will become Dry
                  Loan.

<PAGE>

            (e) the following definition of Wet Trust Receipt is hereby added
      immediately following the defined term Wet Loan:

            "Wet Trust Receipt" shall mean a trust receipt issued by the
      Custodian with respect to Wet Loans.

2. Effective as of September 28, 2005, Section 2 of the Agreement is hereby
amended by adding the following new section (e) to the end thereof:

                  (e) With respect to any Wet Loan, immediately upon the
            delivery of all Required Documents with respect thereto, the related
            Wet Trust Receipt shall be exchanged for a Trust Receipt.

3. Effective as of September 28, 2005, Section 9(c) of the Agreement is hereby
amended by adding the following after clause (xxxvi) thereof:

            (xxxvii) With respect to each Wet Loan, the Seller has funded such
      Wet Loan and has not received notice of, and has no grounds for believing
      that such Wet Loan will be subject to a recession.

4. Effective as of September 28, 2005, Section 10 of the Agreement is hereby
amended by adding the following new paragraph (j) immediately following
paragraph (i) thereof:

            (j) With respect to each Wet Loan, the Seller shall provide evidence
      of the funding of such Wet Loan to the Purchaser upon the Purchaser's
      request therefor and shall deliver to Purchaser all Required Documents
      within ten (10) days of the related Purchase Date of such Wet Loan.

5. This amendment shall be construed in accordance with the laws of the State of
New York and the obligations, rights, and remedies of the parties hereunder
shall be determined in accordance with such laws without regard to conflict of
laws doctrine applied in such state (other than Section 5-1401 of the New York
General Obligations Law).

6. This amendment may be executed in any number of counterparts, each of which
shall constitute an original and all of which, taken together, shall constitute
one instrument.

7. Except as amended above, the Agreement shall continue in full force and
effect in accordance with its terms.

<PAGE>

            IN WITNESS WHEREOF, the Purchaser and the Seller have caused this
amendment to be executed and delivered by their duly authorized officers as of
the day and year first above written.

                                         GREENWICH CAPITAL
                                         FINANCIAL PRODUCTS, INC.
                                         (Purchaser)

                                         By:  /s/  Michael Pillari
                                            ---------------------------
                                            Name:    Michael Pillari
                                            Title:   Managing Director

                                         AMERICAN HOME MORTGAGE CORP.
                                         (Seller)

                                         By:  /s/  Alan B. Horn
                                            ---------------------------
                                            Name:   Alan B. Horn
                                            Title:  Executive Vice President
                                                    General Counsel & Secretary

                                         AMERICAN HOME MORTGAGE
                                         SERVICING, INC.
                                         (Seller)

                                         By:  /s/  Alan B. Horn
                                            ---------------------------
                                            Name:   Alan B. Horn
                                            Title:  Executive Vice President
                                                    General Counsel & Secretary

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