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I think I am detecting something of a pattern here. As I understand it, RMC is what is known as a second-tier lender broker; that is, if your credit is not perfect, they can broker a loan for you with a lender who accepts higher risk customers and of course, charges points and fees accordingly. We have a couple of those in our office building. Powerx is basically a credit card operation, and the market again is those who do not have or cannot afford health insurance. The application for membership in Powerx looks like a credit card application to me. Hence, 80% of their medical costs are put on plastic at high rates. Affordable Housing, or one of the other entities-it's hard to keep track of them-brokers loans on the Belize project, if there is one still, for a fistful of points up front and an annual service fee. IT rates as advertised on their web site are not cheap. So it appears to me, and THIS IS JUST MY GUT FEELING AND NOTHING ELSE, the PRWT is a holding company for a series of high-rate lenders and little else. Please accept the usual disclaimers etc., and IMHO. Still holding long until the fog clears. |
