Document:

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                                                                 EXHIBIT 10.31.2

                              AMENDMENT NUMBER FIVE
                                     to the
             Amended and Restated Master Loan and Security Agreement
                           dated as of March 27, 2000
                                     Among
                    HANOVER CAPITAL MORTGAGE HOLDINGS, INC.,
                         HANOVER CAPITAL PARTNERS, LTD.
                                       and
                   GREENWICH CAPITAL FINANCIAL PRODUCTS, INC.

                  This AMENDMENT NUMBER FIVE (this "Amendment") is made this
28th day of March, 2002, among HANOVER CAPITAL MORTGAGE HOLDINGS, INC., HANOVER
CAPITAL PARTNERS, LTD. (each, a "Borrower" and collectively, the "Borrowers")
and GREENWICH CAPITAL FINANCIAL PRODUCTS, INC. (the "Lender") to the MASTER LOAN
AND SECURITY AGREEMENT, dated as of March 27, 2000, between the Lender and the
Borrowers, as amended (the "Loan Agreement").

                                    RECITALS

                  WHEREAS, the Borrowers have requested that the Lender agree to
amend the Loan Agreement to extend the Termination Date thereunder and the
Borrowers and the Lender have agreed to make such additional modifications to
the Loan Agreement as more expressly set forth below.

                  WHEREAS, as of the date of this Amendment, the Borrowers
represent to the Lender that they are in compliance with all of the
representations and warranties and all of the affirmative and negative covenants
set forth in the Loan Agreement and are not in default under the Loan Agreement.

                  WHEREAS, in order to induce the Lender to enter into this
Amendment Number Five the Borrowers have agreed to pay the Lender a facility fee
in an amount equal to $150,000.

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

                  SECTION 1. Effective as of March 28, 2002, the definition of
"Business Day" in Section 1 of the Loan Agreement is hereby amended to read in
its entirety as follows:

                  "Business Day" shall mean any day other than (i) a Saturday or
                  Sunday, (ii) a day on which the New York Stock Exchange, the
                  Federal Reserve Bank of New York, the Custodian or banking and
                  savings and loan institutions in the State of New York or
                  Connecticut or the City of New York or the city or state in
                  which the Custodian's offices are located are closed, or (iii)
                  a day on which trading in securities on the New York Stock

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                                      -2-

                  Exchange or any other major securities exchange in the United
                  States is not conducted.

                  SECTION 2. Effective as of March 28, 2002, the definition of
"Termination Date" in Section 1 of the Loan Agreement is hereby amended to read
in its entirety as follows:

                  "Termination Date" shall mean March 27, 2003 or such earlier
                  date on which this Loan Agreement shall terminate in
                  accordance with the provisions hereof or by operation of law.

                  SECTION 3. Effective as of March 28, 2002, Section 2 of the
Loan Agreement is hereby amended by deleting Section 2.10 in its entirety and
inserting in its place "2.10 [Intentionally Omitted]."

                  SECTION 4. Effective as of March 28, 2002, Section 3.05 of the
Loan Agreement is hereby amended to read in its entirety as follows:

                  3.05 Non-usage Fee. The Borrowers agree to pay to the Lender,
                  on June 30, 2002, September 30, 2002, December 30, 2002 and
                  March 27, 2003, in addition to any other fees then payable, a
                  non-usage fee equal to (a) 12.5 basis points (0.125%)
                  multiplied by (b)(i) the number of days from and including
                  March 28, 2002 or the previous payment date of such Non-usage
                  Fee up to but not including the related payment date of such
                  Non-usage Fee or the Termination Date, as applicable, during
                  which the unused portion of the Maximum Committed Amount
                  exceeded $5,000,000, divided by (ii) 360, multiplied by (c)
                  the average daily amount of the entire unused portion of the
                  Maximum Committed Amount for the applicable days on which the
                  unused portion of the Maximum Committed Amount exceeded
                  $5,000,000, such payment to be made in Dollars, in immediately
                  available funds, without deduction, set-off, or counterclaim.
                  The Lender may, in its sole discretion, net such Non-usage Fee
                  from the proceeds of any Advance made to a Borrower hereunder.

                  SECTION 5. Effective as of March 28, 2002, Section 3.06 of the
Loan Agreement is hereby amended to read in its entirety as follows:

                  3.06 Facility Fee. On March 28, 2002, the Borrowers shall pay
                  to the Lender a facility fee in connection with the extension
                  of the Termination Date hereunder, equal to $150,000. Such
                  facility fee shall not be subject to offset or credit against
                  any underwriting fees earned by the Lender at any time. The
                  extension of the Termination Date to March 27, 2003 shall
                  become effective upon receipt by the Lender of such facility
                  fee.

                  SECTION 6. Effective as of March 28, 2002, Section 5.02(j) of
the Loan Agreement is hereby amended to read in its entirety as follows:

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                  (j)      No Material Adverse Effect or Other Event. There
                           shall not have occurred:

                           (i)      one or more events that, in the reasonable
                                    judgment of the Lender, constitutes or
                                    should reasonably be expected to constitute
                                    a Material Adverse Effect; or

                  (ii)     an event or events resulting in the inability of the
                           Lender to finance any Advances with traditional
                           counterparties at rates which would have been
                           reasonable prior to the occurrence of such event or
                           events or a material adverse change in the financial
                           condition of the Lender which affects (or can
                           reasonably be expected to affect) materially and
                           adversely the ability of the Lender to fund its
                           obligations under or otherwise comply with the terms
                           of this Loan Agreement; or

                  (iii)    any other event beyond the control of the Lender
                           which the Lender reasonably determines may result in
                           the Lender's inability to perform its obligations
                           under this Loan Agreement including, without
                           limitation, acts of God, strikes, lockouts, riots,
                           acts of war or terrorism, epidemics, nationalization,
                           expropriation, currency restrictions, fire,
                           communication line failures, computer viruses, power
                           failures, earthquakes, or other disasters of a
                           similar nature to the foregoing.

                  SECTION 7. Effective as of March 28, 2002, Section 7 of the
Loan Agreement is hereby amended by adding the following new Section 7.27 to
read in its entirety as follows:

                           7.27 Certificate of a Responsible Officer of the
                  Borrowers. Not later than the last Business Day of each month,
                  each Borrower shall forward to the Lender (to the attention of
                  the Credit Department) a certificate of a Responsible Officer
                  of such Borrower which demonstrates that such Borrower is in
                  compliance with the covenants set forth in Section 7.09 of
                  this Loan Agreement.

                  SECTION 8. Effective as of March 28, 2002, Section 11.17 of
the Loan Agreement is hereby amended to read in its entirety as follows:

                  "11.17 Set-Off. In addition to any rights and remedies of the
                  Lender provided by this Loan Agreement and by law, the Lender
                  shall have the

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                  right, without prior notice to the Borrowers, any such notice
                  being expressly waived by the Borrowers to the extent
                  permitted by applicable law, upon any amount becoming due and
                  payable by the Borrowers hereunder (whether at the stated
                  maturity, by acceleration or otherwise) to set-off and
                  appropriate and apply against such amount any and all property
                  and 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 Lender or any
                  Affiliate thereof to or for the credit or the account of
                  either Borrower. The Lender may set-off cash, the proceeds of
                  the liquidation of any Collateral and all other sums or
                  obligations owed by the Lender or its Affiliates to either
                  Borrower against all of either Borrowers' obligations to the
                  Lender or its Affiliates, whether under this Loan Agreement or
                  under any other agreement between the parties or between
                  either Borrower and any Affiliate of the Lender, or otherwise,
                  whether or not such obligations are then due, without
                  prejudice to the Lender's or its Affiliate's right to recover
                  any deficiency. The Lender agrees promptly to notify the
                  related Borrower after any such set-off and application made
                  by the Lender; provided that the failure to give such notice
                  shall not affect the validity of such set-off and
                  application."

                  SECTION 9. Fees and Expenses. The Borrower agrees to pay to
the Lender all fees and out of pocket expenses incurred by the Lender in
connection with this Amendment (including all reasonable fees and out of pocket
costs and expenses of the Lender's legal counsel incurred in connection with
this Amendment Number Five), in accordance with Section 11.03 of the Loan
Agreement

                  SECTION 10. Facility Fee. In order to induce the Lender to
enter into this Amendment Number Five, the Borrowers hereby agree to pay to the
Lender, in addition to any other amounts required pursuant to the Agreement, a
facility fee equal to $150,000 to be paid to the Lender upon execution of this
Amendment Number Five. Such facility fee shall be paid in dollars, in
immediately available funds, in accordance with the Lender's instructions. This
Amendment Number Five shall be effective upon the Lender's receipt of such
facility fee.

                  SECTION 11. Defined Terms. Any terms capitalized but not
otherwise defined herein shall have the respective meanings set forth in the
Loan Agreement.

                  SECTION 12. Representations. In order to induce the Lender to
execute and deliver this Amendment Number Five, the Borrowers hereby represent
to the Lender that as of the date hereof, after giving effect to this Amendment
Number Five, the Borrowers are in full compliance with all of the terms and
conditions of the Loan Agreement and no Default or Event of Default has occurred
under the Loan Agreement.

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                                      -5-

                  SECTION 13. Limited Effect. Except as expressly amended and
modified by this Amendment Number Five, the Loan Agreement shall continue in
full force and effect in accordance with its terms. Reference to this Amendment
Number Five need not be made in the Loan Agreement or any other instrument or
document executed in connection therewith, or in any certificate, letter or
communication issued or made pursuant to, or with respect to, the Loan
Agreement, any reference in any of such items to the Loan Agreement being
sufficient to refer to the Loan Agreement as amended hereby.

                  SECTION 14. GOVERNING LAW. THIS AMENDMENT NUMBER FIVE 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).

                  SECTION 15. Counterparts. This Amendment Number Five 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.

                            [SIGNATURE PAGE FOLLOWS]
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                  IN WITNESS WHEREOF, the Borrowers and the Lender have caused
this Amendment Number Five to be executed and delivered by their duly authorized
officers as of the day and year first above written.

                                        HANOVER CAPITAL MORTGAGE
                                        HOLDINGS, INC.
                                        BORROWER

                                        By: _______________________________
                                        Name: _____________________________
                                        Title:_____________________________

                                        HANOVER CAPITAL PARTNERS, LTD.
                                        BORROWER

                                        By: _______________________________
                                        Name: _____________________________
                                        Title:_____________________________

                                        GREENWICH CAPITAL FINANCIAL
                                        PRODUCTS, INC.,
                                        LENDER

                                        By: _______________________________
                                        Name: _____________________________
                                        Title:_____________________________<PAGE>

                                                                 EXHIBIT 10.31.3

                              AMENDMENT NUMBER SIX
                                     to the
             Amended and Restated Master Loan and Security Agreement
                           Dated as of March 27, 2000
                                      among
                     HANOVER CAPITAL MORTGAGE HOLDINGS, INC.
                          HANOVER CAPITAL PARTNERS LTD
                                       and
                   GREENWICH CAPITAL FINANCIAL PRODUCTS, INC.

                  This AMENDMENT NUMBER SIX is made this 27th day of March,
2003, among HANOVER CAPITAL MORTGAGE HOLDINGS, INC. and HANOVER CAPITAL PARTNERS
LTD, each having an address at 379 Thornall Street, Edison, New Jersey, 08837
(each, a "Borrower" and collectively, "the Borrowers") and GREENWICH CAPITAL
FINANCIAL PRODUCTS, INC., and having an address at 600 Steamboat Road,
Greenwich, Connecticut 06830 (the "Lender"), to the Amended and Restated Master
Loan and Security Agreement, dated as of March 27, 2000, by and between the
Borrowers and the Lender, as amended (the "Agreement"). Capitalized terms used
but not otherwise defined herein shall have the meanings assigned to such terms
in the Agreement.

                                    RECITALS

                  WHEREAS, the Borrowers have requested that the Lender agree to
amend the Agreement, subject to the terms hereof, to extend the term thereof to
April 27, 2003 and the Lender has agreed to such request.

                  WHEREAS, as of the date of this Amendment, the Borrowers
represent to the Lender that they are in compliance with all of the
representations and warranties and all of the affirmative and negative covenants
set forth in the Agreement.

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

                  SECTION 1. Effective as of March 27, 2003, the definition of
"Termination Date" in Section 1 of the Agreement is hereby amended to read in
its entirety as follows:

                           "Termination Date" shall mean April 27, 2003 or such
                  earlier date on which this Loan Agreement shall terminate in
                  accordance with the provisions hereof or by operation of law.

                  SECTION 2. Defined  Terms.  Any terms capitalized but not
otherwise defined herein should have the respective meanings set forth in the
Agreement.

                  SECTION 3. Limited Effect. Except as amended hereby, the
Agreement shall continue in full force and effect in accordance with its terms.
Reference to this Amendment need not be made in the Agreement or any other
instrument or document

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                                      -2-

executed in connection therewith, or in any certificate, letter or communication
issued or made pursuant to, or with respect to, the Agreement, any reference in
any of such items to the Agreement being sufficient to refer to the Agreement as
amended hereby.

                  SECTION 4. Representations. The Borrowers hereby represent to
the Lender that as of the date hereof, the Borrowers are in full compliance with
all of the terms and conditions of the Agreement and no Default or Event of
Default has occurred and is continuing under the Agreement.

                  SECTION 5. Governing Law. This Amendment Number Six 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).

                  SECTION 6. Counterparts. This Amendment Number Six 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.

                [REMAINDER OF THIS PAGE LEFT INTENTIONALLY BLANK]

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                                      -3-

                  IN WITNESS WHEREOF, the Borrowers and the Lender have caused
this Amendment Number Six to be executed and delivered by their duly authorized
officers as of the day and year first above written.

                            HANOVER CAPITAL MORTGAGE
                            HOLDINGS, INC.
                            (Borrower)

                            By:
                               ------------------------------------------------
                            Name: John A. Burchett
                            Title:    Chief Executive Officer & President

                            HANOVER CAPITAL PARTNERS LTD
                            (Borrower)

                            By:
                               ------------------------------------------------
                            Name: John A. Burchett
                            Title:   Chief Executive Officer

                            GREENWICH CAPITAL FINANCIAL PRODUCTS. INC.
                            (Lender)

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

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