Document:

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                                                         EXHIBIT 10.4(b)

                           AMENDMENT NUMBER THREE
                                   to the
                   Warehouse Loan and Security Agreement
                       dated as of February 10, 2000,
                                by and among
                GREENWICH CAPITAL FINANCIAL PRODUCTS, INC.
                                   and
                        AAMES CAPITAL CORPORATION
                                   and
                        AAMES FUNDING CORPORATION

         This AMENDMENT NUMBER THREE is made this 1st day of September, 2000,
by and among GREENWICH CAPITAL FINANCIAL PRODUCTS, INC., having an address at
600 Steamboat Road, Greenwich, Connecticut 06830 (the "LENDER"), AAMES
CAPITAL CORPORATION, having an address at 350 South Grand Avenue Los Angeles,
California 90071 ("AAMES CAPITAL") and AAMES FUNDING CORPORATION, having an
address at 350 South Grand Avenue Los Angeles, California 90071 ("AAMES
FUNDING"), to the Warehouse Loan and Security Agreement, dated as of February
10, 2000, by and among the Lender, Aames Capital and Aames Funding, as
amended (the "WAREHOUSE AGREEMENT"). Aames Capital and Aames Funding are
referred to herein each as a "BORROWER" and collectively as the "BORROWERS".
Capitalized terms used but not otherwise defined herein shall have the
meanings assigned to such terms in the Warehouse Agreement.

                               RECITAL

        WHEREAS, the Borrowers have requested that the Lender agree to amend
the Warehouse Agreement to increase the Maximum Credit thereunder to
$250,000,000 for the month of September 2000, with the Maximum Credit
returning to $200,000,000 on October 1, 2000 and to revise the covenant, as
set forth herein, relating to Aames Capitals' obtaining committed warehouse
facilities.

         WHEREAS, the Lender has agreed to make such amendments to the
Warehouse Agreement as set forth herein.

         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 September 1, 2000, the definition of
Maximum Credit in Section 1 of the Warehouse Agreement is hereby amended to
read in its entirely as follows:

         "Maximum Credit" shall mean (a) two hundred million Dollars for the
         period from the Effective Date to August 31, 2000, (b) two hundred
         fifty million Dollars for the period from the September 1, 2000 to
         the earlier to occur of (i) the closing of the Aames Mortgage Trust
         2000-1 securitization transaction and (ii) September 30, 2000, and
         (c) two hundred million Dollars for the period from the earlier to
         occur of (i) the

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         closing of the Aames Mortgage Trust 2000-1 securitization
         transaction and (ii) September 30, 2000, to the Termination Date.

         SECTION 2. Effective as of August 30, 2000, Section 7.17 of the
Warehouse Agreement is hereby amended by deleting the existing Section 7.17
thereof and replacing it with the following:

         "COMMITTED WAREHOUSE FACILITIES. Aames Capital at all times has (a)
         after the earlier to occur of (i) the closing of the Aames Mortgage
         Trust 2000-1 securitization transaction and (ii) September 30, 2000,
         available capacity under committed revolving warehouse facilities,
         other than the Lender's committed revolving facility, greater than
         or equal to $100,000,000, and (b) committed wet funding revolving
         facilities that provide funding in the aggregate of at least
         $35,000,000."

         SECTION 3. In order to induce the Lender to execute and deliver
this Amendment, the Borrowers hereby represent to the Lender that as of the
date hereof, after giving effect to this Amendment, the Borrowers are in full
compliance with all of the terms and conditions of the Warehouse Agreement
and no default or Event of Default has occurred and is continuing under the
Warehouse Agreement.

         SECTION 4. This Amendment Number Three shall be effective upon
Lender's receipt of a new Note in the amount of $250,000,000 to replace the
existing Note for $200,000,000.

         SECTION 5. This Amendment Number Three 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.

         SECTION 6. This Amendment Number Three 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.

         SECTION 7. Except as expressly amended and modified by this Amendment
Number Three, the Agreement shall continue to be, and shall remain, in full
force and effect in accordance with its terms. Reference to this Amendment
need not be made in the Warehouse 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 Warehouse
Agreement, any reference in any of such items to the Warehouse Agreement
being sufficient to refer to the Warehouse Agreement as amended hereby.

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         IN WITNESS WHEREOF, the Lender and the Borrowers have cause 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.
                                          (Lender)

                                          By:
                                          Name:
                                          Title:

                                          AAMES CAPITAL CORPORATION
                                          (Borrower)

                                          By: /s/ John Kohler
                                          Name: John Kohler
                                          Title: Executive Vice President

                                          AAMES FUNDING CORPORATION
                                          (Borrower)

                                          By: /s/ Jon D. Van Deuren
                                          Name: Jon D. Van Deuren
                                          Title: Senior Vice President

ACKNOWLEDGED AND AGREED:

CAPITAL Z FINANCIAL SERVICES FUND II, L.P.
as "Limited Obligor" under that certain Payment and
Reimbursement Agreement, dated as of February 10,
2000 in favor of Lender

By: Capital Z Partners, Ltd., the General Partner of Capital Z
    Partners, LP, the sole General Partner of the Limited Obligor

    By: /s/ DAVID A. SPURIA
    Name: DAVID A. SPURIA
    Title: GENERAL COUNSEL

AAMES FINANCIAL CORPORATION.
as "Guarantor" under that certain Guaranty dated
as of February 10, 2000, in favor of Lender.

By:
Name:<PAGE>
                                                                EXHIBIT 10.4(c)

                                AMENDMENT NO. 2
                                      TO
                                   GUARANTY

THIS AMENDMENT NO. 2 TO GUARANTY (this "Amendment"), dated as of June 1,
2000, amends the Guaranty dated as of February 10, 2000 (the "Guaranty"),
made by Aames Financial Corporation (the "Guarantor") in favor of Greenwich
Capital Financial Products, Inc. (the "Lender").  Capitalized terms used
herein and not otherwise defined herein shall have the meanings set forth in
the Guaranty or, if not so defined therein, the Loan Agreement (as defined in
the Guaranty).

WHEREAS, the Guarantor and the Lender wish to amend the Guaranty to modify
certain of the terms thereof.

NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Guarantor and the Lender
agree as follows:

1.   AMENDMENTS

Effective as of March 31, 2000 the following Sections of the Guaranty are
hereby amended as follows:

1.1  Section 3(b)(i) of the Guaranty is hereby deleted in its entirety and
replaced with the following:

          "MAINTENANCE OF TANGIBLE NET WORTH.  The Tangible Net Worth of the
          Guarantor, on a consolidated basis and on any given day, shall be
          equal to or greater than (a) prior to and on June 30, 2000,
          $20,000,000, (b) after June 30, 2000 and prior to and on July 31,
          2000, $45,000,000 and (c) after July 31, 2000, $55,000,000; and not
          less than 80% of the Tangible Net Worth of the Guarantor, on a
          consolidated basis, as at the end of each fiscal quarter;"

1.2  Section 3(b)(ii) of the Guaranty is hereby deleted in its entirety and
replaced with the following:

          "MAINTENANCE OF RATIO OF TOTAL INDEBTEDNESS TO TANGIBLE NET WORTH.
          The Guarantor shall not permit the ratio of Total Indebtedness to
          Tangible Net Worth, on a consolidated basis and on any given day,
          to be greater than (a) prior to and on June 30, 2000, 16.0 to 1.0,
          (b) after June 30, 2000 and prior to and on July 31, 2000, 7.0 to
          1.0 and (c) after July 31, 2000, 5.5 to 1.0;"

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1.3  Section 3(b)(iii) of the Guaranty is hereby deleted in its entirety and
replaced with the following:

          "LIQUIDITY. The aggregate amount of the Guarantor's cash, Cash
          Equivalents and available borrowing capacity on unencumbered assets
          that could be drawn against (taking into account required haircuts)
          under committed warehouse or working capital facilities, on a
          consolidated basis and on any given day, shall be equal to or
          greater than (a) prior to and on June 15, 2000, $5,000,000 and (b)
          after June 15, 2000, $15,000,000;"

1.4  Section 3(b)(iv) of the Guaranty is hereby deleted in its entirety and
replaced with the following:

          "MAINTENANCE OF RATIO OF EARNINGS TO TOTAL INTEREST EXPENSE.  The
          Guarantor shall not permit the ratio of earnings before interest
          and taxes to total interest expense, on a consolidated basis, to be
          less than 1.05 to 1.0 measured on a rolling basis from the
          immediately preceding two calendar quarters commencing with the two
          quarters ended September 30, 2000 and December 31, 2000;"

1.5  Section 3(b)(v) of the Guaranty is hereby deleted in its entirety and
replaced with the following:

          "PROFITABILITY.  The Guarantor shall have a GAAP after tax net
          income of at least $1.00 for the fiscal quarter ended September 30,
          2000;"

2.   REPRESENTATIONS

In order to induce the Lender to execute and deliver this Amendment, the
Guarantor hereby represents to the Lender that as of the date hereof, after
giving effect to this Amendment, (a) the representations and warranties set
forth in Section 3 of the Guaranty are and shall be and remain true and
correct and (b) the Guarantor is in full compliance with all of the terms and
conditions of the Guaranty.

3.   MISCELLANEOUS

Except as specifically amended herein, the Guaranty shall continue in full
force and effect in accordance with its original terms.  Reference to this
specific Amendment need not be made in the Guaranty or any other instrument
or document executed in connection therewith, or in any certificate, letter
or communication on issued or made pursuant to or with respect to the
Guaranty, any reference in any of such items to the Guaranty being sufficient
to refer to the Guaranty as amended hereby.

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IN WITNESS WHEREOF, the Guarantor and the Lender have caused this Amendment
No. 2 to be duly executed and delivered as of the date first above written.

                                      AAMES FINANCIAL CORPORATION

                                      By:   /s/ Jon D. Van Deuren
                                         ----------------------------------
                                      Name:     Jon D. Van Deuren
                                      Title:    Senior Vice President

                                      GREENWICH CAPITAL FINANCIAL
                                      PRODUCTS, INC.

                                      By:   /s/ John C. Anderson
                                         ----------------------------------
                                      Name:     John C. Anderson
                                      Title:    Senior Vice President

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