Amendment To Warehouse Credit Facility

For the attention of: Mark Mason
February, 1998


Dear Sirs,


25,000,000 POUND CREDIT AGREEMENT DATED 18TH AUGUST, 1997 BETWEEN FIRST ALLIANCE MORTGAGE COMPANY LIMITED AND PRUDENTIAL SECURITIES CREDIT CORPORATION (THE "AGREEMENT")


We refer to the Finance Documents and, in accordance with Clause 23 (Amendments and Waivers) of the Agreement, by your countersignature to this letter it is agreed that, from the date of this letter:


(i) the following definition shall be inserted in Clause 1 (Interpretation)
after the end of the definition of "Advance":


""AVAILABLE COMMITMENT" means the lesser of:


(i) the Commitment; and


(ii) 101,000,000 pounds less the aggregate principal amount in
sterling, calculated at the sterling spot rate of exchange
between sterling and US Dollars for the day prior to the date
of calculation which is quoted on the relevant Bloomberg page
which lists world currency rates of exchange (or such other
page as may replace that page and is nominated by the Lender),
of all the advances made by Prudential Securities Realty
Funding Corporation to the Guarantor under the US Facility
...