Document:

EXHIBIT 10.3

                                AMENDMENT NO. 10
                           TO THE AMENDED AND RESTATED
                       MASTER LOAN AND SECURITY AGREEMENT

            AMENDMENT NO. 10, dated as of September 26, 2005 (this "Amendment"),
to the Amended and Restated Master Loan and Security Agreement, dated as of
November 26, 2003 (as amended, supplemented or otherwise modified prior to the
date hereof, the "Existing Loan Agreement"; as amended, hereby and as further
amended, restated, supplemented or otherwise modified and in effect from time to
time, the "Loan Agreement"), by and among AMERICAN HOME MORTGAGE CORP. ("AHMC"),
AMERICAN HOME MORTGAGE ACCEPTANCE, INC. ("AHM Acceptance"), AMERICAN HOME
MORTGAGE INVESTMENT CORP. ("AHM Investment"), AMERICAN HOME MORTGAGE HOLDINGS,
INC. ("AHM Holdings") and AMERICAN HOME MORTGAGE SERVICING, INC., formerly known
as Columbia National, Incorporated ("AHM Servicing" and together with AHMC, AHM
Acceptance, AHM Investment and AHM Holdings, collectively, the "Borrowers",
each, a "Borrower"), the lenders from time to time parties thereto (the
"Lenders") and MORGAN STANLEY BANK, as agent for the Lenders (in such capacity,
the "Agent"). Capitalized terms used but not otherwise defined herein shall have
the meanings given to them in the Existing Loan Agreement.

                                    RECITALS

            The Borrowers, the Lenders and the Agent are parties to the Existing
Loan Agreement.

            The Borrowers, the Lenders and the Agent have agreed, subject to the
terms and conditions hereof, that the Existing Loan Agreement shall be modified
to extend the Termination Date from September 26, 2005 to October 26, 2005.

            NOW, THEREFORE, in consideration of the premises and for other good
and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Borrowers, the Lenders and the Agent hereby agree as follows:

            SECTION 1. Amendment. The definition of "Termination Date" set forth
in Section 1.01 of the Existing Loan Agreement shall be deleted in its entirety
and the following new definition shall be inserted in lieu thereof:

                  "Termination Date" shall mean October 26, 2005 or such earlier
      date on which this Loan Agreement shall terminate in accordance with the
      provisions hereof or by operation of law.

            SECTION 2. Conditions Precedent. This Amendment shall become
effective on the first date (the "Amendment Effective Date") on which all of the
following conditions precedent shall have been satisfied:

<PAGE>

            2.1 Delivered Documents. On the Amendment Effective Date, the Agent
shall have received the following documents, each of which shall be satisfactory
to the Agent in form and substance:

            (a) Amendment. This Amendment, executed and delivered by a duly
authorized officer of each of the Borrowers, the Lenders and the Agent; and

            (b) Other Documents. Such other documents as the Agent or counsel to
the Agent may reasonably request.

            2.2 No Default. On the Amendment Effective Date, (i) each Borrower
shall be in compliance with all the terms and provisions set forth in the
Existing Loan Agreement on its part to be observed or performed, (ii) the
representations and warranties made and restated by each Borrower pursuant to
Section 3 of this Amendment shall be true and complete on and as of such date
with the same force and effect as if made on and as of such date, and (iii) no
Default or Event of Default shall have occurred and be continuing on such date.

            SECTION 3. Representations and Warranties. Each Borrower hereby
represents and warrants to the Agent and the Lenders that it is in compliance
with all the terms and provisions set forth in the Loan Documents on its part to
be observed or performed, and that no Default or Event of Default has occurred
or is continuing, and hereby confirms and reaffirms the representations and
warranties contained in Section 6 of the Loan Agreement.

            SECTION 4. Limited Effect. Except as expressly amended and modified
by this Amendment, the Existing Loan Agreement shall continue to be, and shall
remain, in full force and effect in accordance with its terms; provided,
however, that upon the Amendment Effective Date, all references therein and
herein to the "Loan Documents" shall be deemed to include, in any event, this
Amendment. Each reference to the Loan Agreement in any of the Loan Documents
shall be deemed to be a reference to the Loan Agreement as amended hereby.

            SECTION 5. Counterparts. This Amendment may be executed by each of
the parties hereto on any number of separate counterparts, each of which shall
be an original and all of which taken together shall constitute one and the same
instrument. Delivery of an executed signature page of this Amendment in Portable
Document Format (PDF) or by facsimile transmission shall be effective as
delivery of an executed original counterpart of this Amendment.

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

                               [SIGNATURES FOLLOW]

<PAGE>

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

                                       BORROWERS

                                       AMERICAN HOME MORTGAGE CORP.

                                       By: /s/ Craig Pino
                                          --------------------------------------
                                          Name: Craig Pino
                                          Title: Treasurer and Senior Vice
                                          President

                                       AMERICAN HOME MORTGAGE INVESTMENT CORP.

                                       By: /s/ Craig Pino
                                          --------------------------------------
                                          Name: Craig Pino
                                          Title: Treasurer and Senior Vice
                                          President

                                       AMERICAN HOME MORTGAGE HOLDINGS, INC.

                                       By: /s/ Craig Pino
                                          --------------------------------------
                                          Name: Craig Pino
                                          Title: Treasurer and Senior Vice
                                          President

                                       AMERICAN HOME MORTGAGE ACCEPTANCE, INC.

                                       By: /s/ Craig Pino
                                          --------------------------------------
                                          Name: Craig Pino
                                          Title: Treasurer and Senior Vice
                                          President

                                       AMERICAN HOME MORTGAGE SERVICING, INC.
                                          (f/k/a Columbia National,
                                          Incorporated)

                                       By: /s/ Craig Pino
                                          --------------------------------------
                                          Name: Craig Pino
                                          Title: Treasurer and Senior Vice
                                          President

<PAGE>

                                       MORGAN STANLEY BANK,
                                          as the Agent and as a Lender

                                       By: /s/ Paul Najarian
                                          --------------------------------------
                                          Name: Paul Najarian
                                          Title:  Vice President

                                       MORGAN STANLEY MORTGAGE CAPITAL INC.,
                                          as a Lender

                                       By: /s/ Paul Najarian
                                          --------------------------------------
                                          Name: Paul Najarian
                                          Title:  Vice PresidentEXHIBIT 10.4

                             CALYON NEW YORK BRANCH
                           1301 Avenue of the Americas
                            New York, New York 10019

                                                           As of October 5, 2005

AHM SPV I, LLC
c/o American Home Mortgage Holdings, Inc.
538 Broadhollow Road
Melville, New York  11747

AMERICAN HOME MORTGAGE CORP.
538 Broadhollow Road
Melville, New York  11747

LA FAYETTE ASSET SECURITIZATION LLC
c/o  Calyon Building
1301 Avenue of the Americas
New York, New York 10019

CALYON NEW YORK BRANCH
Calyon Building
1301 Avenue of the Americas
New York, New York 10019

LLOYDS TSB BANK PLC
1251 Avenue of the Americas
39th Floor
New York, NY 10020

                              Re: Extension Letter

Ladies and Gentlemen:

            1. Reference is made to the Loan Agreement, dated as of August 8,
2003, as amended from time to time (the "Loan Agreement"), among AHM SPV I, LLC,
a Delaware limited liability company (hereinafter, together with its successors
and assigns, the "Borrower"), LA FAYETTE ASSET SECURITIZATION LLC, a Delaware
limited liability company, as the Issuer (hereinafter, together with its
successors and assigns, "Issuer"), CALYON NEW YORK BRANCH (hereinafter, together
with its successors and assigns, "Calyon"), as the Administrative Agent and as a
Bank, LLOYDS TSB BANK PLC

<PAGE>

(hereinafter, together with its successors and assigns, "Lloyds"), as a Bank,
and AMERICAN HOME MORTGAGE CORP., a New York corporation, as the Servicer
(hereinafter, together with its successors and assigns "the Servicer"). Unless
otherwise defined herein, capitalized terms have the meanings set forth in the
Loan Agreement.

            2. The Borrower, Calyon, as a Bank and as the Administrative Agent,
Lloyds, as a Bank, and the Servicer hereby agree that the Annual Extension Date,
as set forth in the Loan Agreement, shall be and is hereby extended to November
18, 2005, as may be further extended by the Borrower, Calyon, as a Bank and as
the Administrative Agent, Lloyds, as a Bank, and the Servicer.

            3. This Letter may be executed in any number of counterparts, each
of which when so executed shall be deemed to be an original and all of which
when taken together shall constitute one and the same letter. The delivery of a
signed signature page to this Letter by telecopy transmission shall constitute
due execution and delivery of this Letter for all purposes.

            4. Except as modified by this Letter, all of the provisions of the
Loan Agreement and all of the provisions of all other documentation required to
be delivered with respect thereto shall remain in full force and effect from and
after the date hereof.

            5. This Letter and the rights and obligations of the parties under
this letter shall be governed by, and construed in accordance with, the laws of
the state of New York (without giving effect to the conflict of laws principles
thereof, other than Section 5-1401 of the New York General Obligations Law,
which shall apply hereto).

                                      -2-

<PAGE>

        IN WITNESS WHEREOF, this Letter has been duly executed and delivered by
each signatory hereto and shall be effective as of the date hereof.

                                  CALYON NEW YORK BRANCH,
                                  as Administrative Agent and as a Bank

                                  By: /s/ Kostantina Kourmpetis
                                     --------------------------------------
                                  Name: Kostantina Kourmpetis
                                  Title: Managing Director

                                  By: /s/ Anthony Brown
                                     --------------------------------------
                                  Name: Anthony Brown
                                  Title: Vice President

Agreed and Accepted
as of the date first above noted:

AHM SPV I, LLC,
as Borrower

By: /s/ Alan Horn
    ---------------------------------
Name: Alan Horn
Title:   Secretary

AMERICAN HOME MORTGAGE CORP.,
as Servicer

By: /s/ Alan Horn
    --------------------------------
Name: Alan Horn
Title:   EVP, General Counsel and Secretary

LLOYDS TSB BANK PLC,
as a Bank

By: /s/ Michelle White
    --------------------------------
Name: Michelle White
Title: Assistant Vice President Structured Finance

By: /s/ Ian Dimmock
    --------------------------------
Name: Ian Dimmock
Title: Vice President Structured Finance

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