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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 ic+XqBE8WXFCe69XbjX7lQ==

<SEC-DOCUMENT>0001181431-05-067076.txt : 20051215
<SEC-HEADER>0001181431-05-067076.hdr.sgml : 20051215
<ACCEPTANCE-DATETIME>20051215173702
ACCESSION NUMBER:		0001181431-05-067076
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20051212
FILED AS OF DATE:		20051215
DATE AS OF CHANGE:		20051215

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AmNet Mortgage, Inc.
		CENTRAL INDEX KEY:			0001035744
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				330741174
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		10421 WATERIDGE CIRCLE
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121
		BUSINESS PHONE:		858 909 1340

	MAIL ADDRESS:	
		STREET 1:		10421 WATERIDGE CIRCLE
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AmNet Morgage, Inc.
		DATE OF NAME CHANGE:	20040512

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN RESIDENTIAL INVESTMENT TRUST INC
		DATE OF NAME CHANGE:	19970808

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Flagg Street Capital LLC
		CENTRAL INDEX KEY:			0001321850
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13485
		FILM NUMBER:		051267650

	BUSINESS ADDRESS:	
		STREET 1:		44 BRATTLE STREET
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02138
		BUSINESS PHONE:		617-876-6085

	MAIL ADDRESS:	
		STREET 1:		44 BRATTLE STREET
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02138
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd100381.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-12-12</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001035744</issuerCik>
        <issuerName>AmNet Mortgage, Inc.</issuerName>
        <issuerTradingSymbol>AMNT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001321850</rptOwnerCik>
            <rptOwnerName>Flagg Street Capital LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>44 BRATTLE STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CAMBRIDGE</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02138</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2005-12-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1115000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Converted into the right to receive $10.30 in cash per share pursuant to the Amended and Restated Agreement and Plan of Merger by and among AmNet Mortgage, Inc., Wachovia Bank, National Association and PTI, Inc., dated September 13, 2005.</footnote>
        <footnote id="F2">The Reporting Person is the sole general partner of each of Flagg Street Partners LP, Flagg Street Partners Qualified LP and Flagg Street Offshore LP.  The Reporting Persons disclaims beneficial ownership of all such shares, except to the extent of his pecuniary interest therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Jonathan Starr, Controlling Managing Member</signatureName>
        <signatureDate>2005-12-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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