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Revision History For: HomeCapital (HCAP) -- beaten down

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Austin-based Title One lender was predicted to make 65 cents for 1998. Yesterday (3/25/98) lost there contract to sell loans to Fannie Mae. Stock price cut in half to $1.38.

Can this stock make it -- the company says that they will be in default on their bank lines.

Obvious problems with this company -- performs securitizations and transfers most of the risk to 3rd parties.

The question is can they make it back. If they can, this $1 and change stock will be over $5 -- if not, toast. But the franchise value must be worth something.