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To: barbara sperino who wrote (14180)	9/24/1998 4:25:00 PM
From: jhild	Read Replies (2) \| Respond to of 43774

Well the problem here Barbara is that this doesn't look like a normal mortgage deal here in the US. The money has to come from someplace first. PRWT doesn't seem to have it now do they? Without financials of course we will never know. But without financials who is going to front this money anyway? They have to have the mortgages in place and collateralized by some thing that is sufficient to insure that the lender doesn't get stuck with the properties that aren't worth the loan face amounts. This is not going to be that easy here in the US with the possibility that the peg to the US dollar might loosen there in Belize and the possibility that those properties won't be worth what they may have been loaned to as collateral. These loans are going to be what dollar denominated? That wouldn't make a whole lot of sense for locals and could be much more expensive than locally originated loans. I don't need to be an expert in the intracacies of home mortgages to know that this deal isn't properly collateralized and will not attract normal institutional remortgaging. Hence my belief that these efforts will be nontraditional, if at all. As to your nonsense that they are committed to taking 6000 applications, that is poppycock from the same PR that is already proven so erroneous. They are probably also committed to being a billion dollar company just like MTEI.

To: barbara sperino who wrote (14180)	9/24/1998 4:35:00 PM
From: Roger Bodine	Read Replies (1) \| Respond to of 43774

Hi Barbara, Mortgages are based on the strength of the home owner. When a mortgage is processed by Affordable group, they usually take a few in a package and 'sell' them to a large money firm like an insurance company. Affordable does not have to have their own money in this unless they decided to keep the note themselves. The mortgages are made in US dollars so regardless of what the Belizean dollar does, it won't change the amount. Whenever you do your own house re-mortgage because of lower rates, you do not have to check out the finances of your local broker, right? Done deal, no problem. Roger