Document:

EXHIBIT 10.21

                             THIRD AMENDMENT TO
              AMENDED AND RESTATED WAREHOUSING CREDIT AGREEMENT
                                     AND
                              FIRST AMENDMENT TO
                  AMENDED AND RESTATED PLEDGE, SECURITY AND
                         COLLATERAL AGENCY AGREEMENT

      THIS  THIRD  AMENDMENT  TO  AMENDED  AND  RESTATED  WAREHOUSING  CREDIT
 AGREEMENT AND FIRST AMENDMENT TO AMENDED  AND RESTATED PLEDGE, SECURITY  AND
 COLLATERAL AGENCY AGREEMENT (the "Third Amendment") is made and entered into
 as of  the 19th day of December, 2003, by and among (i) (a) UNITED FINANCIAL
 MORTGAGE CORP., an Illinois corporation with its principal place of business
 located at  815  Commerce  Drive,  Suite  100,  Oak  Brook,  Illinois  60523
 ("United"), and (b)  PORTLAND MORTGAGE COMPANY,  an Oregon corporation  with
 its principal place  of business  located at  2020 S.W.  4th Avenue,  #1010,
 Portland, Oregon 97201 ("Portland") (collectively, the "Company"), (ii)  (a)
 NATIONAL CITY BANK OF KENTUCKY, a national banking association with a  place
 of business located at  101 South Fifth  Street, Louisville, Kentucky  40202
 ("National City"),  (b)  BANK ONE, NA, a  national banking association  with
 its principal place of business located  in Chicago, Illinois ("Bank  One"),
 (c) COMERICA BANK, a Michigan banking  corporation with its principal  place
 of business located at  500 Woodward Avenue, MC:   3256, Detroit, Michigan
 48226  ("Comerica"),  and  (d)  COLONIAL  BANK,  N.A.,  a  national  banking
 association with  a principal  place  of business  located  at 201  E.  Pine
 Street, Suite 730, Orlando, Florida  32801 ("Colonial") (National City, Bank
 One, Comerica and Colonial are each individually referred to as a "Bank" and
 collectively as the "Banks"),  and (iii) NATIONAL CITY BANK OF KENTUCKY,  in
 its capacity as Agent for  the Bank (in such  capacity, the "Agent").   WEST
 SUBURBAN BANK,  an Illinois  state banking  corporation with  its  principal
 place of business located at 711 S. Westmore-Meyers Road, Lombard,  Illinois
  60148 ("West  Suburban"), enters  into this  Third Amendment  for the  sole
 purposes of (i) consenting to the removal of West Suburban as a "Bank"  from
 the hereinafter  defined  Credit  Agreement and  the  other  Loan  Documents
 described therein, and  (ii) providing the  waiver described  in section  15
 below.

                  P R E L I M I N A R Y   S T A T E M E N T:

      A.   Pursuant to that certain  Amended and Restated Warehousing  Credit
 Agreement dated as of August 1, 2003,  among the Company, the Banks and  the
 Agent, as heretofore  amended (the  "Existing Credit  Agreement"), and  that
 certain  Amended  and  Restated  Pledge,  Security  and  Collateral   Agency
 Agreement dated as of August 1, 2003,  among the Company, the Banks and  the
 Agent (the  "Existing  Pledge  Agreement"), the  Banks  have  established  a
 warehousing line of credit facility in  favor of the Company in the  current
 maximum   principal   amount   of   One   Hundred   Ten   Million    Dollars
 ($110,000,000.00), for the purposes set forth therein.

      B.   The Company has now requested that  the Agent and Banks amend  the
 Existing Credit Agreement and  the Existing Pledge  Agreement to (i)  extend
 the stated Maturity Date to  and until the close  of business on August  29,
 2004, (ii)  remove West  Suburban  as a  "Bank"  under the  Existing  Credit
 Agreement and the other Loan Documents,  (iii) decrease the Total  Warehouse
 Line Commitment to Eighty-Five  Million Dollars ($85,000,000.00), (iv)  make
 certain modifications to implement  the MERS Electronic Tracking  Agreement,
 and (v) implement certain other amendments described herein.

      C.   The Company has also requested that the Agent and Banks provide  a
 waiver for  the  Company having  exceeded  the Alternative  Lending  Advance
 Sublimit for the period  from December 13,  2003 to and  until the close  of
 business on December 16, 2003.

      D.   The Agent and  the Banks are  willing to and  desire to amend  the
 Existing Credit Agreement and  the Existing Pledge  Agreement in the  manner
 described above, and to provide the  waiver described below, upon the  terms
 and conditions set forth herein.

      NOW, THEREFORE,  in  consideration  of  the  premises  and  the  mutual
 covenants and agreements  set forth in  the Existing  Credit Agreement,  the
 Existing Pledge  Agreement  and herein,  and  for other  good  and  valuable
 consideration, the mutuality,  receipt and sufficiency  of which are  hereby
 acknowledged, the parties hereto hereby agree as follows:

      1.   Each capitalized  term  used herein,  unless  otherwise  expressly
 defined herein, shall  have the  meaning set  forth in  the Existing  Credit
 Agreement.

      2.   The Existing Credit Agreement and each of the other Loan Documents
 are hereby amended by removing West Suburban Bank as a "Bank" thereunder for
 all purposes and  all references to  "West Suburban Bank"  contained in  the
 Credit Agreement and each of the other Loan Documents shall be deemed to  be
 deleted in  their  entirety as  of  the date  hereof.   The  Warehouse  Line
 Commitment of West Suburban Bank shall be terminated as of the date hereof.

      3.   The following  definitions,  as  contained in  Article  1  of  the
 Existing Credit Agreement, are hereby amended and restated in their entirety
 to read as follows:

           "Bank" and "Banks" shall have the meaning assigned to those  terms
 in the introduction to  this Credit Agreement and  shall include, as of  the
 date hereof, National  City, Bank One,  Comerica and Colonial,  each in  its
 individual capacity,  and,  subsequent to  the  date hereof,  any  Applicant
 Financial Institution which is added as a Bank hereunder by the Company  and
 the Agent.

           "Collateral Value" shall mean as of any date:

           (a)  With respect to a Loan which constitutes Eligible  Collateral
 on such date and which is  not a Repurchase Loan,  an Aged Loan or  Extended
 Period Shipped Loan,  one hundred percent  (100%) of the  lesser of (i)  the
 face amount  of  such  Loan,  (ii)  the  unpaid  principal  balance  of  the
 applicable Loan, or (iii) the purchase  price under the Commitment to  which
 such Loan has been assigned;

           (b)  With respect to a Loan which constitutes Eligible  Collateral
 on such date and which is  a Repurchase Loan and  which has been pledged  as
 collateral for ninety (90) calendar days or less, eighty-five percent  (85%)
 of the  lesser  of  (i)  the unpaid  principal  balance  of  the  applicable
 Repurchase Loan, and (ii)  the Appraised Value of  the real estate  securing
 the  applicable  Repurchase  Loan;  and  with  respect  to  Repurchase  Loan
 Receivables  related  thereto,  eighty-five  percent  (85%)  of  the  amount
 thereof;

           (c)  With respect to a Loan which constitutes Eligible  Collateral
 on such date and which is  a Repurchase Loan and  which has been pledged  as
 collateral for more  than ninety (90)  calendar days but  not more than  one
 hundred twenty (120) calendar  days, eighty percent (80%)  of the lesser  of
 (i) the  unpaid principal  balance of  the applicable  Repurchase Loan,  and
 (ii) the  Appraised  Value  of  the  real  estate  securing  the  applicable
 Repurchase Loan; and  with respect  to Repurchase  Loan Receivables  related
 thereto, eighty percent (80%) of the amount thereof;

          (d) With respect to a Loan which constitutes Eligible Collateral on
 such date and  which is  a Repurchase  Loan and  which has  been pledged  as
 collateral for more than one hundred twenty (120) calendar days but not more
 than one hundred fifty  (150) calendar days,  seventy-five percent (75%)  of
 the lesser of (i) the unpaid principal balance of the applicable  Repurchase
 Loan, and  (ii)  the  Appraised  Value  of  the  real  estate  securing  the
 applicable Repurchase Loan; and with respect to Repurchase Loan  Receivables
 related thereto, seventy-five percent (75%) of the amount thereof;

           (e)  With respect to a Loan which constitutes Eligible  Collateral
 on such date and which is  a Repurchase Loan and  which has been pledged  as
 collateral for more than one hundred fifty (150) calendar days but not  more
 than one hundred eighty  (180) calendar days, seventy  percent (70%) of  the
 lesser of  (i) the  unpaid principal  balance of  the applicable  Repurchase
 Loan, and  (ii)  the  Appraised  Value  of  the  real  estate  securing  the
 applicable Repurchase Loan; and with respect to Repurchase Loan  Receivables
 related thereto, seventy percent (70%) of the amount thereof;

           (f)  With respect to a Loan which constitutes Eligible  Collateral
 on such date and which is an Extended Period Shipped Loan and which has been
 shipped to an Approved Investor or the Document Custodian in accordance with
 the Security Agreement for more than  forty-five (45) calendar days but  not
 more than fifty-five (55)  calendar days (in each  case calculated from  the
 date upon  which the  related Bailee  Letter is  delivered pursuant  to  the
 Security Agreement), ninety  percent (90%)  of the  lesser of  (i) the  face
 amount of such  Loan, or  (ii) the purchase  price under  the Commitment  to
 which such Loan has been assigned;

           (g)  With respect to a Loan which constitutes Eligible  Collateral
 on such date and which is an Extended Period Shipped Loan and which has been
 shipped to an Approved Investor or the Document Custodian in accordance with
 the Security Agreement for more than  fifty-five (55) calendar days but  not
 more than sixty (60)  calendar days (in each  case calculated from the  date
 upon which the related Bailee Letter  is delivered pursuant to the  Security
 Agreement), eighty percent  (80%) of the  lesser of (i)  the face amount  of
 such Loan, or  (ii) the purchase  price under the  Commitment to which  such
 Loan has been assigned;

          (h) With respect to a Loan which constitutes Eligible Collateral on
 such date which is an Aged Loan and which has been pledged as collateral for
 more than  one hundred  twenty (120)  calendar days  but not  more than  one
 hundred fifty (150) calendar days, ninety percent (90%) of the lesser of (i)
 the face  amount  of  such  Loan,  or (ii)  the  purchase  price  under  the
 Commitment to which such Loan has been assigned;

           (i)  With respect to a Loan which constitutes Eligible  Collateral
 on such  date and  which is  an Aged  Loan  and which  has been  pledged  as
 collateral for more than one hundred fifty (150) calendar days but not  more
 than one hundred  eighty (180) calendar  days, eighty percent  (80%) of  the
 lesser of (i) the face amount of such Loan, or (ii) the purchase price under
 the Commitment to which such Loan has been assigned;

           (j)  With respect to Pledged Servicing Rights, an amount equal  to
 the least of: (i)  sixty-five percent (65%) of  the Appraised Value of  such
 Pledged Servicing rights as determined pursuant to the most recent Appraisal
 of Pledged Servicing Rights prepared pursuant  to Section 7.3(f) hereof,  or
 (iii) one percent (1.00%) of the unpaid principal balance of the  underlying
 residential mortgage loan related to the Pledged Servicing Rights.

 Notwithstanding anything contained  in (a), (b),  (c), (d),  (e), (f),  (g),
 (h), (i) and (j) to the contrary:

                A.   The Collateral Value of all Wet Loans shall not  exceed,
      in the aggregate, the Wet Advance Sublimit;

                B.   The Collateral Value of all Jumbo Loans and Super  Jumbo
      Loans shall not exceed, in the aggregate, the Jumbo/Super Jumbo Advance
      Sublimit, and further, the  Collateral Value of  all Super Jumbo  Loans
      shall not exceed, in the aggregate, the Super Jumbo Advance Sublimit;

                C.   The Collateral Value  of all  Alternative Lending  Loans
      shall not exceed,  in the  aggregate, the  Alternative Lending  Advance
      Sublimit;

                D.   The Collateral  Value  of  all ALT  A  Loans  shall  not
      exceed, in the aggregate, the ALT A Advance Sublimit;

                E.   The  Collateral  Value  of  all  Repurchase  Loans   and
      Repurchase Loan Receivables  shall not  exceed, in  the aggregate,  the
      Repurchase Advance Sublimit;

                F.   The Collateral  Value of  all  Aged Loans  and  Extended
      Period Shipped  Loans shall  not exceed,  in  the aggregate,  the  Aged
      Loan/Extended Period Shipped Loan Advance Sublimit;

                G.   Each Wet Loan in respect of which the Company shall  not
      have delivered all of  the Collateral Mortgage  Documents to the  Agent
      within seven (7) calendar days, shall have a Collateral Value of zero;

                H.   Each Wet Loan  which the Agent  determines has not  been
      funded by the Company on  the date the Advance  in respect of such  Wet
      Loan is made by the Banks to the Company, shall have a Collateral Value
      of zero;

                I.   If  the  Agent  shall  reasonably  determine  that   the
      Collateral Value otherwise assigned to  an item of Eligible  Collateral
      does not accurately reflect the value thereof, then, upon notice to the
      Company such item of Collateral (i)  if it is a Loan which  constitutes
      Eligible Collateral which is not a Repurchase Loan, an Aged Loan or  an
      Extended Period  Shipped Loan  shall instead  have a  collateral  value
      equal to one hundred percent (100%)  of the market value as  determined
      by the  Agent,  (ii)  if  it  is  a  Loan  which  constitutes  Eligible
      Collateral which  is  a  Repurchase Loan  which  has  been  pledged  as
      collateral for ninety (90) calendar days or less, shall instead have  a
      Collateral Value equal to eighty-five percent (85%) of the market value
      as determined by  the Agent, (iii)  if it is  a Loan which  constitutes
      Eligible Collateral which is a Repurchase  Loan which has been  pledged
      as collateral for more than ninety (90) calendar days but not more than
      one hundred twenty (120) calendar days, shall instead have a Collateral
      Value equal to eighty percent (80%)  of the market value as  determined
      by the  Agent,  (iv)  if  it  is  a  Loan  which  constitutes  Eligible
      Collateral which  is  a  Repurchase Loan  which  has  been  pledged  as
      collateral for more than one hundred twenty (120) calendar days but not
      more than one hundred fifty (150)  calendar days, shall instead have  a
      Collateral Value  equal to  seventy-five percent  (75%) of  the  market
      value as determined by the Agent, (v) if it is a Loan which constitutes
      Eligible Collateral which is a Repurchase  Loan which has been  pledged
      as collateral for more than one  hundred fifty (150) calendar days  but
      not more than  one hundred eighty  (180) calendar  days, shall  instead
      have a Collateral Value  equal to seventy percent  (70%) of the  market
      value as  determined  by  the  Agent,  (vi)  if  it  is  a  Loan  which
      constitutes Eligible  Collateral which  is an  Extended Period  Shipped
      Loan which has  been shipped to  an Approved Investor  or the  Document
      Custodian in  accordance  with the  Security  Agreement for  more  than
      forty-five (45)  calendar  days  but  not  more  than  fifty-five  (55)
      calendar days (in  each case calculated  from the date  upon which  the
      related Bailee Letter is delivered pursuant to the Security Agreement),
      shall instead have a Collateral Value equal to ninety percent (90%)  of
      the market value  as determined by  the Agent, (vii)  if it  is a  Loan
      which constitutes  Eligible  Collateral  which is  an  Extended  Period
      Shipped Loan which  has been  shipped to  an Approved  Investor or  the
      Document Custodian in accordance with  the Security Agreement for  more
      than fifty-five (55) calendar  days but not  more than sixty-five  (65)
      calendar days (in  each case calculated  from the date  upon which  the
      related Bailee Letter is delivered pursuant to the Security Agreement),
      shall instead have a Collateral Value equal to eighty percent (80%)  of
      the market value as  determined by the  Agent, (viii) if  it is a  Loan
      which constitutes Eligible Collateral which is  an Aged Loan which  has
      been pledged  as collateral  for more  than  one hundred  twenty  (120)
      calendar days but not more than one hundred fifty (150) calendar  days,
      shall instead have a Collateral Value equal to ninety percent (90%)  of
      the market value as determined by the Agent, (ix) if it is a Loan which
      constitutes Eligible Collateral which  is an Aged  Loan which has  been
      pledged as collateral for  more than one  hundred fifty (150)  calendar
      days but not more  than one hundred eighty  (180) calendar days,  shall
      instead have a Collateral  Value equal to eighty  percent (80%) of  the
      market value as determined by the Agent; provided, however, that in  no
      event shall any  mark to market  with respect to  any item of  Eligible
      Collateral under  this  subsection  result in  such  item  of  Eligible
      Collateral having  a  higher  Collateral Value  than  such  item  would
      otherwise have;

                J.   In the event that  a Loan shall  have been delivered  by
      the Agent to a purchaser under a Commitment as provided in the Security
      Agreement, or in the event that such Loan was delivered by the Agent to
      FHLMC or a  custodian for  the Mortgage-backed  Securities programs  at
      GNMA, Fannie Mae  or FHLMC, and  more than the  maximum number of  days
      allowed by the Security Agreement shall have elapsed since the date  of
      such delivery and no purchase has  taken place or the proceeds  thereof
      have not been received by the Agent, such Loan shall have a  Collateral
      Value of zero;

                K.   All Aged Loans which have been pledged as collateral for
      more  than  one  hundred  eighty  (180)  calendar  days  shall  have  a
      Collateral Value of zero;

                L.   All Loans which  are under Trust  Receipt in  accordance
      with the terms of the Security Agreement which are not returned to  the
      Agent within ten (10) calendar days,  shall have a Collateral Value  of
      zero;

                M.   The Collateral Value of all Loans which are under  Trust
      Receipt in accordance with  the terms of  the Security Agreement  shall
      not exceed, in the aggregate, One Million Dollars ($1,000,000.00);

                N.   The Collateral  Value of  all Pledged  Servicing  Rights
      shall not exceed the Working Capital Advance Sublimit; and

                O.   The Collateral  Value  of any  Jumbo  Loan  constituting
      Eligible Collateral  shall not  exceed  Nine Hundred  Thousand  Dollars
      ($900,000.00).

      Notwithstanding anything contained  herein to the  contrary, the  Agent
 shall have  the right,  at the  Agent's  sole and  exclusive judgment  and
 discretion, to extend any  time periods required  hereunder relating to  Wet
 Loans by  up to  seven (7)  calendar days  and any  other warehouse  periods
 described hereunder by up  to thirty (30)  calendar days; provided,  however
 the warehouse period for Extended Period  Shipped Loans may not be  extended
 and the  Collateral Value  of all  Loans which  are subject  to an  extended
 warehouse period at the discretion of  the Agent under this provision  shall
 not exceed, in the aggregate, Five Million Dollars ($5,000,000.00).

           "Intercreditor Agreement"  shall  mean that  certain  Amended  and
 Restated Intercreditor Agreement  dated as of  December 19,  2003 among  the
 Company, the Agent, Credit  Suisse First Boston  Mortgage Capital, LLC,  and
 Austin Bank of Chicago, as the  same may be amended, modified,  supplemented
 and restated from time to time.

           "Loan Documents" shall mean, collectively, this Credit  Agreement,
 the  Warehouse  Notes,   the  Swing  Note,   the  Security  Agreement,   any
 Hypothecation  Agreement  executed  pursuant  to  Section  5.6  hereof,  the
 Intercreditor Agreement,  the other  Collateral Documents  and any  and  all
 other documents executed in  connection therewith, each  as may be  amended,
 modified, supplemented and restated from time to time.

           "Maturity Date"  shall mean  August 29,  2004; provided  that  the
 Agent and  the  Banks  shall  have  the  option,  in  their  sole,  absolute
 discretion, either one  time or from  time to time,  to extend the  Maturity
 Date for an additional period not  to exceed three hundred sixty four  (364)
 days.  If the Maturity Date is extended, the term "Maturity Date" shall mean
 the date of expiration of such extension.

           "Total Warehouse Line Commitment"  shall mean the total  aggregate
 principal amount of all Warehouse Line  Commitments as determined from  time
 to time in accordance  with the provisions  of Article 2  and Article 11  of
 this  Credit  Agreement,   and  shall  mean   Eighty-Five  Million   Dollars
 ($85,000,000.00), subject to the right of the Company and the Agent in their
 sole, joint  discretion  to increase  such  amount  by adding  one  or  more
 Applicant Financial Institutions  as a "Bank"  or "Banks"  hereunder, or  as
 otherwise permitted under Section 11.1 hereof.

           "Warehouse Notes"  shall  mean,  collectively,  (i)  that  certain
 Amended and Restated Warehouse Promissory Note  dated as of August 1,  2003,
 jointly and severally made by United  and Portland, payable to the order  of
 National City,  in  the  current principal  amount  of  Twenty-Five  Million
 Dollars ($25,000,000.00), a form of which is attached hereto as Exhibit  C-1
 and made a  part hereof  by this  reference, as  the same  may hereafter  be
 amended, modified, renewed, replaced and/or restated from time to time, (ii)
 that certain Warehouse Promissory Note dated  as of August 1, 2003,  jointly
 and severally made by United and Portland, payable to the order of Bank One,
 and  in  the   face  principal   amount  of   Twenty-Five  Million   Dollars
 ($25,000,000.00), a form of which is attached hereto as Exhibit C-2 and made
 a part  hereof by  this reference,  as the  same may  hereafter be  amended,
 modified, renewed, replaced and/or restated from  time to time, (iii)   that
 certain Warehouse Promissory Note  dated as of August  1, 2003, jointly  and
 severally made by United and Portland, payable to the order of Comerica, and
 in the face principal amount of Ten Million Dollars ($10,000,000.00), a form
 of which is attached hereto as  Exhibit C-4 and made  a part hereof by  this
 reference, as the same may hereafter be amended, modified, renewed, replaced
 and/or restated from time  to time, (iv)  that certain Warehouse  Promissory
 Note dated as of August  1, 2003, jointly and  severally made by United  and
 Portland, payable to the order of Colonial, and in the face principal amount
 of Twenty-Five Million Dollars ($25,000,000.00), a form of which is attached
 hereto as Exhibit C-5 and made a part hereof by this reference, as the  same
 may hereafter be amended, modified,  renewed, replaced and/or restated  from
 time to  time, and  (v) when  executed and  delivered, any  such  additional
 Warehouse Promissory Note, made by the Company, payable to the order of  any
 respective Applicant Financial  Institution as shall  be added  as a  "Bank"
 hereunder, and  in the  face principal  amount of  such Applicant  Financial
 Institution's Warehouse Line  Commitment, substantially in  the form of  the
 Warehouse Promissory Note  attached hereto as  Exhibit C-1  (other than  the
 amount thereof),  as the same may thereafter be amended, modified,  renewed,
 replaced and/or restated from time to time."

           "Working Capital Advance  Sublimit" shall mean  the least of:  (i)
 sixty-five percent (65%)  of the appraised  value of  the Pledged  Servicing
 Rights as  determined  pursuant to  the  most recent  Appraisal  of  Pledged
 Servicing Rights  prepared  pursuant  to Section  7.3(f)  hereof,  (ii)  one
 percent (1.00%) of the unpaid principal balance of the residential mortgages
 related to the  Pledged Servicing Rights,  or (iii) an  amount equal to  Two
 Million Dollars ($2,000,000.00).

      4.   Article 1 of the Existing Credit  Agreement is further amended  by
 adding the following definitions to read in their entirety as follows:

           "Electronic Tracking Agreement" shall mean an Electronic  Tracking
 Agreement  by  and  among  the  Company,  the  Agent,  MERS  and   MERSCORP,
 substantially in  the form  of Exhibit  M attached  hereto and  made a  part
 hereof by this reference.

           "Hypothecation Agreement"  shall  mean a  hypothecation  agreement
 made by the Company, granting a security interest in the account or accounts
 described therein and held or maintained by the Agent, substantially in  the
 form attached hereto as Exhibit N and made a part hereof by this reference.

           "MERS" shall mean the Mortgage Electronic Registration System, Inc

           "MERSCORP" shall mean MERSCORP, Inc.

           "MERS Loan"  shall mean  any  Loan made  by  the Company  that  is
 secured by a MERS Mortgage.

           "MERS Member" shall mean any entity which is a member of MERS,  in
 good standing and in compliance with all rules, regulations, procedures  and
 requirements set forth by MERS, including, but not limited to the payment of
 membership dues.

           "MERS Mortgage" shall mean any  First Mortgage or Second  Mortgage
 registered by the Company on the MERS System.

           "MERS System"  shall  mean the  Mortgage  Electronic  Registration
 System established by MERS.

      5.   The fourth sentence in the first  paragraph of Section 2.1 of  the
 Existing Credit Agreement is hereby amended and restated in its entirety  to
 read as follows:

           "The Total  Warehouse  Line  Commitment is  equal  to  Eighty-Five
 Million Dollars ($85,000,000.00), and as may be increased by the Company and
 the Agent in their  sole, joint discretion by  adding one or more  Applicant
 Financial Institutions  as a  "Bank" or  "Banks"  hereunder, or  as  further
 permitted under Section 11.1 hereof."

      6.   Section 2.14(b) of the Existing Credit Agreement is hereby amended
 and restated in its entirety to read as follows:

           (b)  Usage Fee.  United and  Portland jointly and severally  agree
 to pay to  the Agent  and the  Banks the  following usage  fees (the  "Usage
 Fees"):  (i) a usage fee computed at the rate of one-quarter of one  percent
 (.25%) per  annum  times  the average  monthly  aggregate  unpaid  principal
 balance for all Repurchase Loan Advances  and all Aged Loan/Extended  Period
 Shipped Loan Advances, (ii) a usage fee computed at the rate of one-half  of
 one percent  (.50%) per  annum times  the average  monthly aggregate  unpaid
 principal balance for  all Subprime  Loan Advances,  and (iii)  a usage  fee
 computed at the rate of three-quarters of one percent (.75%) per annum times
 the average  monthly  aggregate unpaid  principal  balance for  all  Working
 Capital Loan Advances."

      7.   Sections 5.5 and 5.6 of the  Existing Credit Agreement are  hereby
 amended and restated in their entirety to read as follows:

           "5.5 Dividends.  The Company shall not (i) declare or pay cash  or
 stock dividends  upon  any  of the  stock  of  the Company,  (ii)  make  any
 incentive compensation  payments, or  (iii) make  any distributions  of  the
 property or assets  of the  Company, except that  the Company  may (w)  make
 reasonable and  customary  incentive  compensation payments  to  its  senior
 officers, and (x) declare and pay dividends to its stockholders, so long  as
 such dividend or payment shall not  cause the aggregate amount for all  such
 dividends and payments to exceed fifty percent  (50%) of the sum of the  Net
 Income during the current fiscal year of the Company."

           "5.6 Eurodollar Account.  As  consideration for the advance  rates
 allowed by the Agent and Banks hereunder, the Company and/or its  Affiliates
 shall pledge to the Agent for the pro-rata benefit of the Banks a eurodollar
 account maintained by the Agent or any of its affiliates in the name of  the
 Company and/or such  Affiliates, which  account shall  at all  times have  a
 principal balance of not less  than the greater of  (i) one percent (1%)  of
 the Total  Warehouse  Line  Commitment, or  (ii)  One  Million  One  Hundred
 Thousand Dollars ($1,100,000.00).   The Company  or Affiliate pledging  such
 eurodollar account to the Agent for  the pro-rata benefit of the Banks  must
 execute and deliver to the Agent a Hypothecation Agreement."

      8.   Section 7.1 of the Existing Credit Agreement is hereby amended  by
 adding new subsections  (t) and  (u) thereto in  their entirety  to read  as
 follows:

           "(t) Field Exam.   The  Company shall  cause a  field exam  to  be
 conducted of its  operations by Reynolds  & Associates or  such other  field
 examiner acceptable to the Agent on  or before February 29, 2004, such  exam
 to be conducted at the sole cost and expense of the Company up to an  amount
 of $3,000.00 with any excess amount to be borne by the Banks in  aaccordance
 with their Pro Rata Shares."

           "(u) MERS.  During any time during which the Company is using  the
 MERS System, the Company shall  (a) at all times,  maintain its status as  a
 MERS Member,  (b) at  all times,  employ officers  who have  the  authority,
 pursuant to  a corporate  resolution from  MERS, to  execute assignments  of
 mortgage in  the name  of MERS  in the  event deregistration  from the  MERS
 System is necessary or desirable, (c) at all times remain in full compliance
 all terms and conditions of membership in MERS, including the MERSCORP, Inc.
 "Rules of Membership" most recently promulgated by MERSCORP, Inc., the "MERS
 Procedures Manual" most recently promulgated by MERS, and any and all  other
 guidelines or requirements  set forth by  MERS or MERSCORP,  as each of  the
 foregoing may  be modified  from time  to  time, including,  but in  no  way
 limited to compliance with guidelines and procedures set forth with  respect
 to  technological  capabilities,  drafting  and  recordation  of  mortgages,
 registration of mortgages on the MERS System, including registration of  the
 interest of  the  Agent and  the  Banks  in such  mortgages  and  membership
 requirements, (d)  promptly, upon  the request  of  the Agent,  execute  and
 deliver to the Agent  an assignment of mortgage,  in blank, with respect  to
 any MERS Mortgage that the Agent  determines shall be removed from the  MERS
 System, and (e) at all times  maintain the Electronic Tracking Agreement  in
 full force and effect.  The Company shall not de-register or attempt to  de-
 register any mortgage from the MERS  System unless the Company has  complied
 with the requirements set forth in the Electronic Tracking Agreement and the
 requirements hereof  and the  Security Agreement  relating to  a release  of
 Collateral."

      9.   Section 7.2 of the Existing Credit Agreement is hereby amended  by
 adding a new subsection (m) thereof to read in its entirety as follows:

           "(m) Goodwill.  The Company shall not initiate any transaction, or
 series of related transactions, that would create goodwill to the Company in
 excess of  One Million  Dollars ($1,000,000.00)  without the  prior  written
 consent of  the Agent,  which consent  shall  not be  unreasonably  withheld
 except in the event of a  separate covenant violation, a covenant  violation
 that would result from such transaction,  or in the event that the  proposed
 transaction would  significantly alter  the risk  profile of  the  Warehouse
 Line."

      10.  The Existing Credit  Agreement is hereby  amended by amending  and
 restating Exhibits  B, C-3,  J-1 and  J-2  and Schedules  1.1, 2.1  and  6.1
 thereof to read in their entirety as set  forth on Exhibits B, C-3, J-1  and
 J-2 and Schedules 1.1, 2.1 and 6.1 attached to this Third Amendment and made
 a part hereof by this reference.

      11.  Article 3 of the  Existing Pledge Agreement  is hereby amended  by
 adding a new Section 3.3 thereof to read in its entirety as follows:

           "3.3 MERS.  The Agent,  the Banks and  the Company hereby  confirm
 the appointment of the Agent as collateral agent on behalf of the Banks with
 respect to MERS Loans.  The Agent hereby  confirms that it is a MERS  member
 in good standing and in compliance  with all rules, regulations,  procedures
 and requirements  set  forth  by MERS,  including  without  limitation,  the
 payment of membership fees."

      12.  The  Existing  Pledge  Agreement  is  hereby  further  amended  by
 amending and    restating Section  4.1(b)(i)  to  read in  its  entirety  as
 follows:

           "(b)      (i)  A  duly  executed  appropriate  assignment  of  the
 Mortgage securing the Mortgage  Note by the  Company executed in  recordable
 form in blank, (ii) a MERS assignment of the Mortgage securing the  Mortgage
 Note by the Company, in the format as may be prescribed by MERS from time to
 time, executed by  MERS, as nominee  of the Company,  in recordable form  in
 blank, or  (iii) where  the Agent,  the Company  and MERS  have executed  an
 Electronic Tracking Agreement, evidence  in form and substance  satisfactory
 to the Agent, of (a)  all assignments of the  Mortgage Loan to such  Company
 (including all  intervening assignments),  and (b)  the designation  of  the
 Agent as the "Warehouse/Gestation Lender" in the Associated Member  category
 for the subject  Mortgage, all of  which occurred on  the MERS  System.   If
 appropriate  filing  and  recording  information  regarding  such  Mortgage,
 including the MERS Identification Number ("MIN"), has not been inserted into
 the assignment  and  the  Agent has  determined  that  such  information  is
 necessary to perfect  its Security Interest  in such  Mortgage, the  Company
 shall promptly  provide such  information to  the Agent  when available  and
 hereby authorizes  the  Agent  to insert  such  information  as  appropriate
 (whether or not such information is  supplied to the Agent by the  Company);
 however, the Agent shall not have any obligation to insert such information,
 and may require the missing information to be completed by the Company;"

      13.  The  Existing  Pledge  Agreement  is  hereby  further  amended  by
 relettering existing Section 12.2(k) to read as Section 12.2(l) and to add a
 new Section 12.2(k) to read in its entirety as follows:

           "(k) With respect  to MERS  Loans, direct  MERS, pursuant  to  the
 Electronic Tracking Agreement,  to remove  the Company  from the  "Servicer"
 category on the MERS System  and insert in place  thereof, the Agent or  its
 designee, or direct MERS to take such other action with respect to the  MERS
 Loans as the Agent deems advisable; and"

      14.  Article 13  of the  Existing Pledge  Agreement is  hereby  further
 amended by adding a new Section 13.12 to read in its entirety as follows:

           "13.12    MERS.  With respect to the MERS System, the Agent shall:
  (i) at  all  times  be  a  MERS Member,  (ii)  at  all  times  possess  the
 technological capability to fully utilize the MERS System, (iii) maintain on
 its data base  the information,  which shall be  updated on  a daily  basis,
 which identifies and  segregates the  MERS Loans in  which the  Agent has  a
 security interest from any other MERS Loans  in which the Agent may have  an
 interest separate and apart from that of the Agent, and (iv) comply with all
 of its obligations under the Electronic  Tracking Agreement, possess at  all
 times a valid and effective corporate consent from MERS permitting  officers
 of the Agent to execute written assignments of mortgage as officers of MERS,
 as more particularly  set forth in  the Electronic  Tracking Agreement,  and
 execute such written assignments of MERS Loans as the Agent may require from
 time to time."

      15.  The Company has informed the Agent  and the Banks that during  the
 period from December 13, 2003 to and until the close of business on December
 16, 2003,  the Company's  outstanding borrowings  under the  Warehouse  Line
 exceeded the Warehouse Borrowing Base as a result of the Collateral Value of
 outstanding Alternative Lending Advances  exceeding the Alternative  Lending
 Advance Sublimit specified in  the Existing Credit Agreement.   Each of  the
 Banks and the Agent hereby agrees  to waive its default rights with  respect
 to the  Company having  borrowings under  the Warehouse  Line in  excess  of
 Warehouse Borrowing Base as a result of the Collateral Value of  outstanding
 Alternative Lending  Advances  exceeding  the  Alternative  Lending  Advance
 Sublimit during the  period beginning December  13, 2003 and  ending at  the
 close of business on  December 16, 2003.   This waiver  only applies to  the
 specific instance described  herein. It is  not a waiver  of any  subsequent
 breach of the same provision of the Credit Agreement, nor is it a waiver  of
 any prior,  current or  subsequent breach  of any  other provisions  of  the
 Credit Agreement. Notwithstanding the foregoing, each  of the Banks and  the
 Agent reserves all of the rights, powers and remedies presently available to
 it under the Credit  Agreement and the Notes,  including the right to  cease
 making Advances  to the  Company and  the  right to  accelerate any  of  the
 indebtedness owing

      16.  Other than with respect to the  default described in that  certain
 Second Amendment to Amended and Restated Warehousing Credit Agreement  dated
 as of December 15, 2003 and the  default described in section 15 above,  for
 which the Banks  and the  Agent have  in each  case provided  a waiver,  the
 Company represents and  warrants that no  Event of Default  has occurred  to
 date under the Existing Credit Agreement or any other Loan Document and that
 no Unmatured  Event  of Default  currently  exists  under any  of  the  Loan
 Documents.

      17.  This Third Amendment may be executed in one or more  counterparts,
 each of  which  shall constitute  an  original and  all  of the  same  shall
 constitute one and the same instrument.

      18.  This Third Amendment shall be effective as of the date of delivery
 to the Agent of each of the following:  (i) this Third Amendment and each of
 the other agreements and instruments referred  to herein or related  hereto,
 each duly executed by each of the parties thereto, (ii) an updated  covenant
 compliance  certificate,   insurance  certificates,   UCC  search   results,
 authorized  signed  letter,  approved  investor  list,  representation   and
 warranty disclosures and  authorizing resolution,  (iii)  the  Intercreditor
 Agreement  duly  executed   by  all  necessary   parties  thereto,  (iv)   a
 Hypothecation Agreement duly executed by the Company relating to the pledged
 eurodollar account, (v) a UCC amendment removing West Suburban as a  secured
 party under the Warehouse Line, (vi) the Electronic Tracking Agreement  duly
 executed by all necessary parties thereto, and (vii) all such other security
 documents, opinions, instruments and certificates as may be required by  the
 Agent or its counsel  in order to  consummate the transactions  contemplated
 herein.

      19.  This Third Amendment and the  related writings and the  respective
 rights and obligations of  the parties shall be  governed by, and  construed
 and enforced in accordance with, the laws of the Commonwealth of Kentucky.

      20.  This Third Amendment shall be binding upon, and shall inure to the
 benefit of,  the Company,  the  Banks and  the  Agent and  their  respective
 successors and assigns.

      21.  This Third  Amendment and  the agreements,  instruments and  other
 documents referred to herein, constitute the entire agreement of the parties
 with respect to, and supersede all prior understandings of the parties  with
 respect to the subject matter hereof.  No change, modification, addition  or
 termination of this Third Amendment shall  be enforceable unless in  writing
 signed by the party against whom enforcement is sought.

      22.  Each of  United  and  Portland hereby  makes,  declares,  ratifies
 and/or reaffirms,  as applicable,  all of  the representations,  warranties,
 covenants, agreements  and  obligations set  forth  in the  Existing  Credit
 Agreement and each  of the  other Loan  Documents, as  amended and  modified
 hereby, as each  of the same  apply to United  and Portland individually  or
 collectively as the Company (as redefined herein), as applicable.

        [The remainder of this page has been intentionally left blank]

      IN WITNESS WHEREOF, the parties hereto have caused this Third Amendment
 to Warehousing Credit Agreement and First Amendment to Pledge, Security  and
 Collateral Agency Agreement to be duly executed as of the day and year first
 above written.

                          UNITED FINANCIAL MORTGAGE CORP.

                          By: /s/ Steve Y. Khoshabe
                          --------------------------------------------
                          Title: President and Chief Executive Officer

                          PORTLAND MORTGAGE COMPANY

                          By: /s/ Steve Y. Khoshabe
                          --------------------------------------------
                          Title: President and Chief Executive Officer

                                 (collectively, the "Company")

                          NATIONAL CITY BANK OF KENTUCKY

                          By: /s/ Michael A. Johnson
                          --------------------------------------------
                          Title: Vice President

                          BANK ONE, NA

                          By: /s/ Michael  Castillo
                          --------------------------------------------
                          Title: Commercial Banking Officer

                          COMERICA BANK

                          By: /s/ Robert W. Marr
                          --------------------------------------------
                          Title: Vice President

                          COLONIAL BANK, N.A.

                          By: /s/ Amy J. Nunneley
                          --------------------------------------------
                          Title: Senior Vice President

                                    (collectively, the "Banks")

                          NATIONAL CITY BANK OF KENTUCKY

                          By: /s/ Michael A. Johnson
                          --------------------------------------------
                          Title: Vice President

                                    (the "Agent")

                          WEST SUBURBAN BANK

                          By: /s/ Michael P. Brosnihan
                          --------------------------------------------
                          Title: Senior Vice President

                                    ("West Suburban")EXHIBIT 10.22

                               AMENDMENT NO. 13
                        TO MASTER REPURCHASE AGREEMENT

           Amendment No. 13, dated as of February 2, 2004 (this "Amendment"),
 between CREDIT SUISSE FIRST  BOSTON MORTGAGE CAPITAL  LLC (the "Buyer")  and
 UNITED FINANCIAL MORTGAGE CORP. (the "Seller").

                                   RECITALS
                                   --------

           The Buyer  and  the Seller  are  parties to  that  certain  Master
 Repurchase Agreement, dated as of August  29, 2001, as amended by  Amendment
 No. 1, dated as of August 28, 2002,  Amendment No. 2, dated as of  September
 3, 2002, Amendment No. 3, dated as  of September 26, 2002, Amendment No.  4,
 dated as of October 1, 2002,  Amendment No. 5, dated as of December 2, 2002,
 Amendment No. 6 dated as of January 30,  2003, Amendment No. 7, dated as  of
 March 15, 2003, Amendment No. 8, dated as of May 30, 2003, Amendment No.  9,
 dated as of  July 16, 2003,  Amendment No. 10,  dated as of  July 23,  2003,
 Amendment No. 11, dated as of August  27, 2003, and Amendment No. 12,  dated
 as of December 16, 2003 (the "Existing Repurchase Agreement"; as amended  by
 this Amendment, the "Repurchase Agreement"). Capitalized terms used but  not
 otherwise defined  herein shall  have  the meanings  given  to them  in  the
 Existing Repurchase Agreement.

           The Buyer and  the Seller have  agreed, subject to  the terms  and
 conditions of  this Amendment,  that the  Existing Repurchase  Agreement  be
 amended to  reflect  certain agreed  upon  revisions  to the  terms  of  the
 Existing Repurchase Agreement.

           Accordingly,  the   Buyer  and   the  Seller   hereby  agree,   in
 consideration of  the  mutual  premises and  mutual  obligations  set  forth
 herein, that the Existing Repurchase Agreement is hereby amended as follows:

           SECTION 1.     Amendments.

           (a)  Definitions.  Section 2 of the Existing Repurchase  Agreement
      is hereby  amended  by deleting  clause  (xiii) of  the  definition  of
      "Market Value" in its entirety and replacing it with the following:

           "(xiii)   when the Purchase Price for such Purchased Mortgage Loan
      is added  to other  Purchased Mortgage  Loans, the  aggregate  Purchase
      Price of all Sub-Prime Mortgage Loans that are Purchased Mortgage Loans
      exceeds $10 million;"

           SECTION 2.     Conditions Precedent.  This Amendment shall  become
 effective on February 2, 2004 (the  "Amendment Effective Date"), subject  to
 the satisfaction of the following conditions precedent:

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

           (a)  this Amendment, executed and  delivered by a duly  authorized
      officer of the Buyer and Seller;

           (b)  such other documents as the Buyer or counsel to the Buyer may
      reasonably request.

           SECTION 3.     Representations and Warranties.  The Seller  hereby
 represents and warrants to  the Buyer that they  are in compliance with  all
 the terms and provisions set forth in the Repurchase Agreement on their part
 to be observed or performed, and that no  Event of  Default has occurred  or
 is continuing,  and  hereby confirm  and  reaffirm the  representations  and
 warranties contained in Section 13 of the Repurchase Agreement.

           SECTION 4.     Limited Effect.  Except  as expressly  amended  and
 modified by this Amendment, the Existing Repurchase Agreement shall continue
 to be, and shall  remain, in full  force and effect  in accordance with  its
 terms.

           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.

           SECTION 6.     Acknowledgement of Anti-Predatory Lending Policies.
 Buyer has in place internal policies and procedures that expressly  prohibit
 its purchase of any High Cost Mortgage Loan.

          SECTION 7. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY,  AND
 CONSTRUED IN ACCORDANCE  WITH, THE  LAWS OF THE  STATE OF  NEW YORK  WITHOUT
 REFERENCE TO THE CHOICE OF LAW PROVISIONS THEREOF.

                           [SIGNATURE PAGE FOLLOWS]

<PAGE>

           IN WITNESS  WHEREOF, the  parties have  caused their  names to  be
 signed hereto by their respective officers  thereunto duly authorized as  of
 the day and year first above written.

 Buyer:                          CREDIT SUISSE FIRST BOSTON
                                 MORTGAGE CAPITAL LLC,
                                 as Buyer

                                 By:  /s/ Jeffrey A. Detwiler
                                    ______________________________
                                    Name:  Jeffrey A. Detwiler
                                    Title: President

 Seller:                         UNITED FINANCIAL MORTGAGE CORP.,
                                 as Seller

                                 By: /s/ Steve Y. Khoshabe
                                    ______________________________
                                    Name:  Steve Y. Khoshabe
                                    Title: President and Chief Executive
                                    Officer

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