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                                                                   EXHIBIT 10.14

                           MEMORANDUM OF UNDERSTANDING

This Memorandum of Understanding ("MOU") is entered into the third day of
October, 2000 by and among the National Association of Hispanic Real Estate
Professionals ("NAHREP"), Real Estate Espanol ("REE"), National Council of La
Raza ("NCLR") and Freddie Mac.

This MOU sets forth the understanding and arrangements among the parties to
assist in bringing the benefits of technology to mortgage origination for low-
and moderate-income Hispanic and Latino borrowers ("Hispanic Community
Technology Initiative").

I.   PURPOSE

     The purpose of the Hispanic Community Technology Initiative is to aid and
     improve prospective homebuyers in overcoming barriers to homeownership and
     improving their access to mortgage credit by bringing the benefits of
     technology to homeownership counseling and the origination of mortgages for
     low- and moderate-income Hispanic and Latino borrowers.

II.  PROGRAM GOALS

     The goals of the Hispanic Community Technology Initiative are as follows:

     o    Provide increased homeownership opportunities and access to mortgage
          financing for creditworthy, low- and moderate-income Hispanic and
          Latino homebuyers in targeted communities by delivering a new
          technology platform, along with computers, to NCLR and NCLR affiliates

     o    Conduct outreach and marketing activities that result in Hispanic and
          Latino potential borrowers in the targeted communities seeking out and
          receiving homeownership counseling from NCLR affiliates at the point
          in time when counseling may have the greatest impact

     o    Educate potential homebuyers about the homebuying process, including
          money management, shopping for lenders, realtors and loan products
          that are affordable, and prepare potential homeowners for
          homeownership and home maintenance

     o    Develop capacity at NCLR and NCLR affiliates to use technology to
          serve a greater number of Hispanic and Latino potential borrowers

III. RESPONSIBILITIES OF THE PARTIES

A.   NCLR AND NCLR AFFILIATES

     o    Ensure that Freddie Mac technology tools and lending customers (as
          identified by Freddie Mac) and other technology tools NCLR deems
          appropriate will reside on the web-based technology platform developed
          under this effort

     o    Ensure that the web-based technology tool and customer transaction
          system developed under this effort will be used in accordance with
          Freddie Mac/NCLR/NAHREP/REE's initial specifications unless otherwise
          agreed to in writing by all parties

     o    Develop outreach and marketing campaigns to encourage Hispanic and
          Latino potential borrowers to enroll in homeownership education and
          counseling programs at the point in time when housing counseling can
          provide the most assistance to borrowers

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     o    Counsel potential homebuyers about the homebuying process utilizing
          materials and technology tools developed through the partnership

     o    Develop lending initiatives with Freddie Mac's Community Development
          Lending Department in targeted communities (through NCLR affiliates)
          to expand homeownership opportunities for Hispanic/Latino families

     o    Dedicate four NCLR staff persons (part-time) to serve as a resource to
          participating NCLR affiliates and manage the Hispanic Community
          Technology Initiative on behalf of Freddie Mac

     o    Provide a semi-annual update/report to Freddie Mac on status of the
          Hispanic Community Technology Initiative

B.   NAHREP

     o    Provide $250,000 over two years as follows: $100,000 in 2000 and
          $150,000 in the first quarter of 2001, to REE to sponsor REE's
          participation in the Hispanic Community Technology Initiative

     o    Develop materials and conduct training sessions to educate NAHREP
          members on reaching potential homebuyers in the targeted communities
          and informing the potential homebuyers about homeownership
          opportunities through the Hispanic Community Technology Initiative

     o    Develop educational materials for potential homebuyers that NAHREP
          members will distribute

     o    Assist Freddie Mac in promoting Freddie Mac technology tools (and
          other technology tools deemed appropriate by NAHREP) to NAHREP members

     o    Support Freddie Mac in the development of a business plan to rollout
          Freddie Mac technology tools to Hispanic/Latino mortgage and real
          estate professionals by conducting focus groups and surveys of NAHREP
          members

     o    Provide direct support for the translation/review of Freddie Mac
          technology tools in Spanish consistent with Freddie Mac business plan

     o    No later than 60 days after the execution of the MOU and annually
          thereafter, provide Freddie Mac with a specific work plan on how
          NAHREP intends to use the Freddie Mac grant; the plan must be reviewed
          and approved by Freddie Mac annually prior to the release of funds

C.   REE

     o    Provide 200 computers as a donation and without charge ("Computers")
          to NAHREP, which shall distribute all the Computers to NCLR and NCLR
          affiliates as agreed to by all parties

     o    Host Freddie Mac technology tools on REE website

     o    Develop a web-based technology tool that will be distributed to NCLR
          and NCLR affiliates

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          -    provide a customer/transaction management system for, among other
               things, customer intake, conversation logging, credit reporting,
               income and debt management and a platform for realtor/lender
               status information

          -    create access to loan programs (including Freddie Mac mortgage
               offerings) by providing the capability to link institutions'
               underwriting requirements and special loan programs

          -    be used to educate potential homebuyers and real estate and
               lending professionals

          -    recognize Freddie Mac for the sponsorship of the platform's
               development

     o    Provide semi-annually updates to Freddie Mac on the development of
          web-based technology tool, including the amount of funds expended for
          such development as of the date of the update

     o    Develop and pilot the technology tool to the satisfaction of all
          parties prior to full implementation of the technology tool

     o    Pay all costs for developing the tool in excess of $250,000

D.   FREDDIE MAC

     o    Provide $250,000 over two years to NAHREP as follows: $100,000 in 2000
          and $150,00 in the first quarter of 2001, for REE to use toward the
          cost of development of the above web-based technology

     o    Provide $675,000 to NCLR over three years as follows: $250,000 in
          2000, $225,000 in 2001, and $200,000 in 2002, for NCLR to develop the
          technical expertise to become an e-commerce mortgage provider and to
          manage the overall Hispanic Community Technology Initiative on behalf
          of Freddie Mac, or at NCLR's discretion, and after consultation with
          Freddie Mac, use $100,000 of the funds provided to NCLR under this
          paragraph, to develop the technology to support an e-commerce mortgage
          operation or to provide general support to NCLR

     o    Provide $650,000 to NCLR over three years as follows: $160,000 in
          2000, $240,000 in 2001 and $250,000 in 2002, for NCLR to provide to
          its affiliates for the development of outreach marketing campaigns
          that encourage Hispanic and Latino potential borrowers to enroll in
          homeownership education and counseling programs

     o    Provide up to $100,000 per year for three years to NAHREP beginning in
          the year 2000 for

          -    NAHREP's development of both educational materials for NAHREP
               members and potential homebuyers and training programs for NAHREP
               members

          -    Support of Freddie Mac's technology and business plans (including
               translation support) to reach more Hispanic mortgage
               professionals

     o    Review for approval the annual work plans submitted to Freddie Mac by
          NCLR

IV.  PUBLICITY/PROMOTIONAL MATERIALS

Each party shall review and approve any public announcement of the Hispanic
Community Technology Initiative. Thereafter, if any party issues any public
statements, press releases, or other publicity or collateral promotional

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materials regarding this Hispanic Community Technology Initiative, and Freddie
Mac's name is to be used in such communication, Freddie Mac shall have the right
to review and approve the communication prior to its issuance. Requests for such
approval shall be directed to Freddie Mac's Vice President-Corporate
Communications. NCLR, NAHREP and REE will be responsible for developing
collateral promotional materials where appropriate. Additionally, each party
will work together to announce and promote the Hispanic Community Technology
Initiatives, as well as any efforts that result from the Initiative, at the
national and local level. If Freddie Mac issues any public statements, press
releases, or other publicity or collateral promotional materials regarding this
Hispanic Community Technology Initiative and another party's name is to be used
in such communication, such other party shall have the right to review and
approve the communication prior to its issuance.

V.   LEGAL RELATIONSHIP OF THE PARTIES

The relationship among NAHREP, REE, NCLR and Freddie Mac under this Memorandum
of Understanding is not that of partners or joint venturers and nothing in this
Agreement shall be deemed to constitute or create an association, partnership or
joint venture among them or any agency or employer-employee relationship.
Neither party is granted, nor shall it represent that it has been granted, any
right or authority to assume or create any obligation or responsibility, express
or implied, on behalf of, or in the name of, another party, or to bind another
party in any manner.

VI.  TERMINATION OF THE HISPANIC COMMUNITY TECHNOLOGY INITIATIVE

After the completion of year one of the Hispanic Community Technology
Initiative, each party reserves the right to reassess its participation in this
Hispanic Community Technology Initiative and may terminate its participation
provided that such party gives all other parties 30 days notice in writing. The
termination will eliminate any and all financial and program obligations for all
parties involved.

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