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  <TITLE> Luminent Mortgage Capital, Inc. (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	August 21, 2007
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  	Luminent Mortgage Capital, Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	&nbsp;
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  	Maryland
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  	001-31828
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  	06-1694835
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	&nbsp;
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  	&nbsp;
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  	101 California Street, Suite 1350, San Francisco, California
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  	94111
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	415 217-4500
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 1.01 Entry into a Material Definitive Agreement.
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  On August 21, 2007, we and certain of our affiliates entered into the interim agreements and instruments attached as exhibits to this filing, and incorporated into this Item 1.01 by reference, with or in favor of Arco Capital Corporation Ltd., the party with whom we recently entered into a letter of intent outlining transactions intended to address our liquidity issues that arose due to unanticipated disruptions in mortgage credit markets.  Under those agreements and instruments, we received a loan of approximately $18.25 million having a maturity of one month and an annual interest rate equal to one-month LIBOR plus 4.00%.  The loan was made pursuant to a secured credit arrangement established pending completion of the secured credit arrangement provided for in the above-referenced letter of intent, and the maturity date of September 21, 2007 may be extended at the option of the lender to August 21, 2008, or any earlier date on which it disburses replacement financing.  We used the proceeds of the loan to address margin calls and financing maturities.<br><br>
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  	Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
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  On August 21, 2007, we and certain of our affiliates entered into the interim agreements and instruments attached as exhibits to this filing with or in favor of Arco Capital Corporation Ltd., the party with whom we recently entered into a letter of intent outlining transactions intended to address our liquidity issues that arose due to unanticipated disruptions in mortgage credit markets.  Under those agreements and instruments, we received a loan of approximately $18.25 million having a maturity of one month and an annual interest rate equal to one-month LIBOR plus 4.00%.  The loan was made pursuant to a secured credit arrangement established pending completion of the secured credit arrangement provided for in the above-referenced letter of intent, and the maturity date of September 21, 2007 may be extended at the option of the lender to August 21, 2008, or any earlier date on which it disburses replacement financing.  We used the proceeds of the loan to address margin calls and financing maturities.<br><br> <br><br>Under the terms of the interim agreements and instruments attached as exhibits to this filing, the loan may be declared to be immediately due and payable for failure to pay interest or principal when due, for failure to perform or observe any covenant or other obligation and upon the occurrence of certain bankruptcy or insolvency events, among other things.  Repayment of the loan is collateralized by a security interest in property owned by us or certain of our affiliates, and the loan is guaranteed by certain of our affiliates.  For more information regarding the terms of the loan, see the interim agreements and instruments attached as exhibits to this filing, which are incorporated by reference into this Item 2.03.<br><br>
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  	Item 9.01 Financial Statements and Exhibits.
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  Exhibit No.            Exhibit Description<br> <br>10.1                    Credit Agreement dated as of August 21, 2007 between Luminent Mortgage Capital, Inc. and Arco Capital Corporation Ltd.<br> <br>10.2                    Security and Pledge Agreement dated as of August 21, 2007 among Luminent Mortgage Capital, inc., The Subsidiaries of the Borrower Parties thereto and Arco Capital Corporation, Ltd.<br> <br>10.3                    Subsidiary Guarantee Agreement dated as of August 21, 2007 among the subsidiaries listed on Schedule I thereto of Luminent Mortgage Capital, Inc. and Arco Capital Corporation Ltd.<br> <br>
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	&nbsp;
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  	Luminent Mortgage Capital, Inc.
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  	&nbsp;&nbsp;
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  <I>
  	August 27, 2007
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  	By:
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  <I>
  	/s/ Christopher J. Zyda
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  	&nbsp;
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  <I>
  	Name: Christopher J. Zyda
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  <I>
  	Title: Chief Financial Officer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	10.1
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  	&nbsp;
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  Credit Agreement dated as of August 21, 2007 between Luminent Mortgage Capital, Inc. and Arco Capital Corporation Ltd.
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  	10.2
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  	&nbsp;
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  Subsidiary Guarantee Agreement dated as of August 21, 2007 among the subsidiaries listed on Schedule I thereto of Luminent Mortgage Capital, Inc. and Arco Capital Corporation Ltd.
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  	10.3
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  	&nbsp;
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  Subsidiary Guarantee Agreement dated as of August 21, 2007 among the subsidiaries listed on Schedule I thereto of Luminent Mortgage Capital, Inc. and Arco Capital Corporation Ltd.
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_22338.htm", "description": "LIVE FILING", "secsgml_size_bytes": 14384}]
metadata_filer: {"company-data": {"conformed-name": "LUMINENT MORTGAGE CAPITAL INC", "cik": "0001236309", "assigned-sic": "6798", "irs-number": "061694835", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-31828", "film-number": "071080965"}, "business-address": {"street1": "ONE MARKET, SPEAR TOWER", "street2": "30TH FLOOR", "city": "SAN FRANCISCO", "state": "CA", "zip": "94105", "phone": "415-978-3000"}, "mail-address": {"street1": "ONE MARKET, SPEAR TOWER", "street2": "30TH FLOOR", "city": "SAN FRANCISCO", "state": "CA", "zip": "94105"}}
text: Luminent Mortgage Capital, Inc. (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  August 21, 2007
  Luminent Mortgage Capital, Inc.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Maryland
  001-31828
  06-1694835
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  101 California Street, Suite 1350, San Francisco, California
  94111
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  415 217-4500
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  On August 21, 2007, we and certain of our affiliates entered into the interim agreements and instruments attached as exhibits to this filing, and incorporated into this Item 1.01 by reference, with or in favor of Arco Capital Corporation Ltd., the party with whom we recently entered into a letter of intent outlining transactions intended to address our liquidity issues that arose due to unanticipated disruptions in mortgage credit markets.  Under those agreements and instruments, we received a loan of approximately $18.25 million having a maturity of one month and an annual interest rate equal to one-month LIBOR plus 4.00%.  The loan was made pursuant to a secured credit arrangement established pending completion of the secured credit arrangement provided for in the above-referenced letter of intent, and the maturity date of September 21, 2007 may be extended at the option of the lender to August 21, 2008, or any earlier date on which it disburses replacement financing.  We used the proceeds of the loan to address margin calls and financing maturities.
  Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
  On August 21, 2007, we and certain of our affiliates entered into the interim agreements and instruments attached as exhibits to this filing with or in favor of Arco Capital Corporation Ltd., the party with whom we recently entered into a letter of intent outlining transactions intended to address our liquidity issues that arose due to unanticipated disruptions in mortgage credit markets.  Under those agreements and instruments, we received a loan of approximately $18.25 million having a maturity of one month and an annual interest rate equal to one-month LIBOR plus 4.00%.  The loan was made pursuant to a secured credit arrangement established pending completion of the secured credit arrangement provided for in the above-referenced letter of intent, and the maturity date of September 21, 2007 may be extended at the option of the lender to August 21, 2008, or any earlier date on which it disburses replacement financing.  We used the proceeds of the loan to address margin calls and financing maturities.
  Under the terms of the interim agreements and instruments attached as exhibits to this filing, the loan may be declared to be immediately due and payable for failure to pay interest or principal when due, for failure to perform or observe any covenant or other obligation and upon the occurrence of certain bankruptcy or insolvency events, among other things.  Repayment of the loan is collateralized by a security interest in property owned by us or certain of our affiliates, and the loan is guaranteed by certain of our affiliates.  For more information regarding the terms of the loan, see the interim agreements and instruments attached as exhibits to this filing, which are incorporated by reference into this Item 2.03.
  Item 9.01 Financial Statements and Exhibits.
  Exhibit No.            Exhibit Description
  10.1                    Credit Agreement dated as of August 21, 2007 between Luminent Mortgage Capital, Inc. and Arco Capital Corporation Ltd.
  10.2                    Security and Pledge Agreement dated as of August 21, 2007 among Luminent Mortgage Capital, inc., The Subsidiaries of the Borrower Parties thereto and Arco Capital Corporation, Ltd.
  10.3                    Subsidiary Guarantee Agreement dated as of August 21, 2007 among the subsidiaries listed on Schedule I thereto of Luminent Mortgage Capital, Inc. and Arco Capital Corporation Ltd.
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  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  Luminent Mortgage Capital, Inc.
  August 27, 2007
  By:
  /s/ Christopher J. Zyda
  Name: Christopher J. Zyda
  Title: Chief Financial Officer
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  Exhibit Index
  Exhibit No.
  Description
  10.1
  Credit Agreement dated as of August 21, 2007 between Luminent Mortgage Capital, Inc. and Arco Capital Corporation Ltd.
  10.2
  Subsidiary Guarantee Agreement dated as of August 21, 2007 among the subsidiaries listed on Schedule I thereto of Luminent Mortgage Capital, Inc. and Arco Capital Corporation Ltd.
  10.3
  Subsidiary Guarantee Agreement dated as of August 21, 2007 among the subsidiaries listed on Schedule I thereto of Luminent Mortgage Capital, Inc. and Arco Capital Corporation Ltd.