Document:

Exhibit 10.4

                         EIGHTH MODIFICATION AGREEMENT

     THIS MODIFICATION AGREEMENT (the "Agreement' ') is made as of the 2nd day
of January, 2001, by and among E-LOAN, INC. (the "Borrower"), COOPER RIVER
FUNDING INC. (the "Lender") and GE CAPITAL MORTGAGE SERVICES, INC. (the
"Agent").

                                   BACKGROUND

     The Borrower, the Lender and the Agent entered into a Warehouse Credit
Agreement dated as of June 24, 1998, as amended (as so amended, the "Warehouse
Credit Agreement") pursuant to which the Lender agreed to make advances (the
"Advances") to the Borrower in accordance with the provisions of the Warehouse
Credit Agreement. All capitalized terms used herein and not otherwise defined
shall have the meanings set forth in the Warehouse Credit Agreement.

     The Advances are evidenced by the Borrower's Second Amended and Restated
Note dated as of July 28, 1999 (the "Note") in the stated principal amount of
$50,000,000 and secured by, among other things, a Warehouse Security Agreement
dated as of June 24, 1998, as amended (as so amended, the "Warehouse Security
Agreement") between the Borrower and the Agent granting the Agent a security
interest in certain of the Borrower's assets.

     The Borrower has requested that the Lender extend the term of the Lender's
commitment and make certain other modifications to the terms of the Warehouse
Credit Agreement, and the Lender and the Agent have agreed to such modifications
subject to the terms and conditions of this Agreement.

     NOW, THEREFORE, the parties hereto, intending to be legally bound hereby,
agree as follows:

     1.   WAREHOUSE CREDIT AGREEMENT. The Warehouse Credit Agreement is hereby
amended as follows:

          (a)  The definition of "Expiry Date" contained in Section 1.01 of the
Warehouse Credit Agreement is amended to read in full as follows:

               ""EXPIRY DATE" shall mean the earlier of (i) June 30, 2001 as
          such date may be extended upon mutual agreement among the Borrower,
          the Lender and the Agent from time to time, (ii) the date which is
          fifteen days prior to the Liquidity Termination Date in effect from
          time to time and (iii) the date that is 120 days after the date on
          which the Lender shall have given the Borrower the notice referred to
          in Section 9.13 hereof."

<PAGE>

                                                                    Exhibit 10.4

          (b)  Clause (1) of the proviso of Section 2.01 of the Warehouse Credit
Agreement is amended to read in full as follows:

               "(1) the aggregate principal amount of Advances outstanding at
          any time shall not exceed the lesser of (x) the Commitment and (y) an
          amount equal to: (A) the Borrowing Base at such time minus (b)
          $1,000,000."

          (c)  Clause (4) of the proviso of Section 2.01 of the Warehouse Credit
Agreement is amended to read in full as follows:

               "(4) the aggregate principal amount of Advances outstanding at
          any time secured by Jumbo Loans shall not exceed 40% of the
          Commitment,"

          (d)  The first sentence of Section 3.01(c) of the Warehouse Credit
Agreement is amended to read in full as follows:

               "(c) The Borrower shall pay the Lender a non-use fee (the
          "Non-Use Fee") with respect to each calendar month during the term of
          this Agreement during which the average outstanding principal amount
          of Advances is less than an amount equal to fifty percent (50%) of the
          Commitment, computed at the rate of 0.25% per annum on the daily
          average unutilized Commitment."

          (e)  Section 4.02(a) of the Warehouse Credit Agreement is amended to
read in fall as follows:

               "(a) if on any date the aggregate principal amount of Advances
          outstanding (after giving effect to all other repayments thereof on
          such date) exceeds the lesser of (x) the Commitment or (y) an amount
          equal to: (i) the Borrowing Base as then in effect minus (ii)
          $1,000,000, the Borrower shall immediately prepay the principal of
          Advances in an aggregate amount equal to such excess;"

          (f)  Section 4.02(d) of the Warehouse Credit Agreement is amended to
read in fall as follows:

               "(d) if on any date the aggregate principal amount outstanding of
          Advances secured by Jumbo Loans exceeds 40% of the Commitment, the
          Borrower shall immediately prepay the principal of Advances secured by
          Jumbo Loans in an aggregate amount equal to such excess;"

                                      -2-
<PAGE>

                                                                    Exhibit 10.4

          (g)  Section 4.03(a) of the Warehouse Credit Agreement is amended to
read in full as follows:

               "(a) So long as no Default or Event of Default has occurred and
          is continuing or would result therefrom, upon the Borrower's request
          therefor accompanied by a prepayment by the Borrower of Advances in an
          amount sufficient to cause the amount of Advances outstanding to be
          less than or equal to: (x) the Borrowing Base (calculated without
          reference to any Collateral which the Borrower requests be released
          from the Lien granted pursuant to the Warehouse Security Agreement)
          minus (y) $1,000,000, and a deposit by the Borrower of such amount as
          the Agent shall designate as a reserve for application to any fees,
          accrued interest or breakage costs payable with respect to the
          calendar month in which such prepayment occurs, the Security Agent
          shall, within one Business Day after the later of the receipt of such
          request or such prepayment and deposit, release from the Lien granted
          pursuant to the Warehouse Security Agreement and deliver to the
          Borrower in accordance with the terms of the Warehouse Security
          Agreement (i) the Collateral corresponding to such Mortgage Loan(s) or
          Mortgage-backed Security(ies) and (ii) the Collateral Documents
          pertaining thereto."

          (h)  Section 4.04(c) of the Warehouse Credit Agreement is amended to
read in full as follows:

               "(c) The Borrower shall make a deposit in immediately available
          funds into the Warehouse Payment Account by 4:00 p.m. on the Business
          Day on which the release of the Security Agent's security interest in
          such Mortgage Loan or Mortgage-backed Securities is scheduled to occur
          pursuant to the purchase by an Investor under a Purchase Commitment,
          in an amount equal to the amount by which the aggregate amount of
          Advances outstanding exceeds: (i) the Borrowing Base (calculated
          without reference to any such Mortgage Loan or Mortgage-backed
          Security) minus (ii) $1,000,000."

          (i)  There shall be added to Section 7 of the Warehouse Credit
Agreement a new section 7.14 which shall read in full as follows:

               "7.14 ADDITIONAL CREDIT FACILITY. The Borrower will at all times
          during the term of this Agreement maintain, in addition to the
          Commitment hereunder, a mortgage loan funding facility of at least
          $1003,000,000 with another lender."

                                      -3-
<PAGE>

                                                                    Exhibit 10.4

          (j)  There shall be added to Section 8 of the Warehouse Credit
Agreement a new section 8.17 which shall read in full as follows:

               "8.17 CASH ON HAND. The Borrower will not permit its

               cash on hand to be less than $15,000,000 at any time during the
          term of this Agreement."

     2.   WAREHOUSE SECURITY AGREEMENT. Section 4(a) of the Warehouse Security
Agreement is amended to read in full as follows:

               "(a) So long as no Default or Event of Default has occurred and
          is continuing or would result therefrom, upon the Assignor's request
          therefor and a prepayment by the Assignor of Advances in an amount
          sufficient to cause the amount of Advances outstanding to be less than
          or equal to: (x) the Borrowing Base (calculated without reference to
          any Collateral which the Assignor requests be released from the Lien
          granted pursuant hereto) minus (y) $1,000,000, and a deposit by the
          Assignor of such amount as the Agent shall designate as a reserve for
          application to any fees, accrued interest or breakage costs payable
          under the Warehouse Credit Agreement with respect to the calendar
          month in which such prepayment occurs, the Security Agent shall,
          within one Business Day after the later of the receipt of such request
          or such prepayment and deposit, release from the Lien granted pursuant
          hereto and deliver to the Assignor (i) the Collateral corresponding to
          such Mortgage Loan(s) or Mortgage-backed Security(ies) and (ii) the
          Collateral Documents pertaining thereto."

     3.   CONDITIONS OF EFFECTIVENESS. This Agreement shall become effective as
of the date first written above when this Agreement shall have been executed by
the Borrower, the Lender and the Agent, and the Borrower shall have delivered to
the Agent for the benefit of the Lender additional Collateral consisting of cash
in an amount sufficient to cause the Borrowing Base to exceed the amount of
Advances by at least $1,000,000.

     4.   REFERENCES TO CREDIT DOCUMENTS. Upon the effectiveness of this
Agreement:

          (a)  Each reference in the Warehouse Credit Agreement to "this
Agreement," "hereunder," "hereof," "herein" or words of like import, and each
reference in the Note and the Warehouse Security Agreement to the Warehouse
Credit Agreement shall mean and be a reference to the Warehouse Credit Agreement
as amended hereby; and

          (b)  Each reference in the Warehouse Credit Agreement and the Note to
the Warehouse Security Agreement shall mean and be a reference to the Warehouse
Security Agreement as amended hereby.

                                      -4-
<PAGE>

                                                                    Exhibit 10.4

     5.   RATIFICATION OF DOCUMENTS.

          (a)  Except as specifically amended herein, the Warehouse Credit
Agreement, the Note and the Warehouse Security Agreement shall remain unaltered
and in full force and effect and are hereby ratified and confirmed.

          (b)  The execution, delivery and effectiveness of this Agreement shall
not, except as expressly provided herein, operate as a waiver of any right,
power or remedy of the Lender or the Agent under the Warehouse Credit Agreement,
the Note or the Warehouse Security Agreement nor constitute a waiver of any
default or Event of Default under the Warehouse Credit Agreement, the Note or
the Warehouse Security Agreement.

     6.   REPRESENTATIONS AND WARRANTIES. The Borrower hereby certifies that (i)
the representations and warranties which it made in the Warehouse Credit
Agreement and the Warehouse Security Agreement are true and correct as of the
date hereof and (R) no Event of Default and no event which could become an Event
of Default with the passage of time or the giving of notice, or both, under the
Note, the Warehouse Credit Agreement or the Warehouse Security Agreement exists
on the date hereof.

     7.   MISCELLANEOUS.

          (a)  This Agreement shall be governed by and construed according to
the laws of the State of New York without regard to. principles of conflicts of
laws and shall be binding upon and shall inure to the benefit of the parties
hereto, their successors and assigns.

          (b)  This Agreement may be executed in one or more counterparts, each
of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

          (c)  This Agreement is intended to take effect as a document under
seal.

                                      -5-
<PAGE>

                                                                    Exhibit 10.4

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first above written.

                                         E-LOAN, INC.

                                         By:  /s/ JOSEPH J. KENNEDY
                                              ----------------------------------
                                              President

                                         COOPER RIVER FUNDING INC.

                                         By:  /s/ ILLEGIBLE
                                              ----------------------------------
                                              Assistant Treasurer

                                         GE CAPITAL MORTGAGE SERVICES, INC.

                                         By:  /s/ ILLEGIBLE
                                              ----------------------------------
                                              Vice PresidentExhibit 10.5
                               THIRD AMENDMENT TO

                         UNDERWRITING SERVICES AGREEMENT

         This Amendment to Underwriting Services Agreement (the "Amendment") is
entered into between E-LOAN, a California corporation, located at 5875 Arnold
Road, Suite 100, Dublin, CA 94568 ("E-Loan"), and PMI MORTGAGE SERVICES CO., a
California corporation, located at 601 Montgomery Street, San Francisco, CA
94111 ("PMI").

         WHEREAS, PMI and E-Loan entered into an Underwriting Services Agreement
(the "Agreement") on or about June 12, 1998 and amended said Agreement on or
about July 31, 1998, and on or about May 3, 1999, and

         WHEREAS, PMI and E-Loan wish to amend the Agreement with respect to the
Review Fees under the Agreement;

         NOW, THEREFORE, PMI and E-Loan agree to amend the Agreement on the
following terms and conditions.

     1. Exhibit G of the Agreement is hereby amended in its entirety to read as
follows:

                  "The Review Fee for each Mortgage Loan Package submitted
hereunder shall be as follows:

                  (i)      for those Mortgage Loan Packages underwritten under
                           the Agency Underwriting Guidelines for which Mortgage
                           Insurance is not issued, the Review Fee shall be
                           Sixty Dollars ($60.00), and the Review Fee for those
                           Mortgage Loan Packages underwritten under the Agency
                           Underwriting Guidelines for which Mortgage Insurance
                           is requested from PMI MIC shall be Twenty Five
                           Dollars ($25.00).

                  (ii)     for those Mortgage Loan Packages underwritten under
                           the Platinum Plus Underwriting Guidelines for which
                           Mortgage Insurance is not issued, the Review Fee
                           shall be Sixty Dollars ($60.00), and the Review Fee
                           for those Mortgage Loan Packages underwritten under
                           the Platinum Plus Underwriting Guidelines for which
                           Mortgage Insurance is requested from PMI MIC shall be
                           Twenty Five Dollars ($25.00).

                  (iii)    for those Mortgage Loan Packages submitted On-Site to
                           E-Loan's designated location, the Review Fee shall be
                           a per them fee of Two Hundred Fifty Dollars ($250.00)
                           per underwriter. For any given day, E-Loan shall
                           receive a credit of Fifty Dollars ($50.00) for each
                           of the first five Mortgage Loan Packages underwritten
                           by PMI for which a Mortgage Insurance commitment is
                           requested. The minimum per di em -fee shall be Ten
                           Dollars ($10.00).

<PAGE>

                           The above On-Site per them Review Fee does not
                           include the per loan fees to underwrite Mortgage Loan
                           Packages at E-Loan's site pursuant to an underwriting
                           services agreement between PMI and an investor/third
                           party. Review Fees for the underwriting of such
                           Mortgage Loan Packages will also be billed to E-Loan
                           pursuant to the investor/third party's underwriting
                           services agreement and the applicable fee payment
                           agreement between PMI and E-Loan. This agreement will
                           result in PMI collecting both a fee to cover the
                           expense of the underwriter and a per loan fee."

2.       Exhibit A is amended to include the following:

                           CitiMortgage
                           Chase Manhattan Mortgage Co.
                           Countrywide Home Loans
                           Bank of America
                           Fleet National Bank

                           GMAC

                           GreenPoint Mortgage Funding
                           Washington Mutual ("WAMU")
3.       This Amendment shall become effective as of January 10, 2001.
4.       Except as amended hereby, the Agreement shall remain in full force and
         effect.

         IN WITNESS WHEREOF, the parties have caused their duly authorized
officers to execute this instrument on the date set forth below.

E-LOAN                             PMI MORTGAGE SERVICES CO.

/S/ STEVEN M. MAJERUS              /S/ ILLEGIBLE
---------------------------------  -------------

By:  STEVEN M. MAJERUS             By:  Angela Merson
     ----------------------------

Its:  VP SECONDARY MARKETING       Its:  Vice president

Date:  2/14, 2001                  Date:  2/23, 2001
       ----                               ----

                                      -2-

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