Document:

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                                                                   Exhibit 10.23

                       SECOND DEBT RESTRUCTURE AGREEMENT

         This Agreement dated March 15, 2000, but effective as of March 7, 2000
(the "EFFECTIVE DATE") is between Stanwich Financial Services Corp., a Rhode
Island corporation ("SFSC"), and NAB Asset Corporation, a Texas corporation
("NAB").

                                    RECITALS

         a. On the Effective Date NAB was indebted to SFSC under the Promissory
Notes listed on Schedule A hereto (the "NAB NOTES").

         b. The Notes were amended by the following agreements between SFSC and
NAB: (1) Debt Restructure Agreement dated August 13, 1998 (the "DRA") and (ii)
Payment Deferral Agreement dated March 26, 1999 (the "PDA").

         c. SFSC is indebted to NAB under a Promissory Note dated May 12, 1999
in the original principal amount of $921,345.24, issued by SFSC to NAB (the
"SFSC NOTE").

         d. NAB has requested that the indebtedness evidenced by the NAB Notes
be restructured and that SFSC subordinate $4,000,000 of such indebtedness to
NAB's obligations to Bank United, as agent Bank (the "BANK") under a certain
Guaranty dated June 15, 1999 issued by NAB to the Bank, as hereinafter provided.
SFSC has agreed to restructure and to subordinate a portion of the indebtedness
represented thereby, on the terms hereinafter set forth.

         NOW THEREFORE in consideration of the premises, the parties hereby
agree as follows:

SECTION 1.  ACKNOWLEDGMENT RE INDEBTEDNESS UNDER NAB NOTES.

         On the Effective Date, NAB made (i) an interest payment to SFSC under
the NAB Notes in the amount of $229,459.58, the same constituting all accrued
interest under the NAB Notes to the Effective Date and (ii) a principal payment
to SFSC under the NAB Notes in the amount of $270,540.42 (which was applied
against NAB Note A (as defined in Schedule A)). After giving effect to such
payment (and before giving effect to the transactions referred to below in this
Agreement), the aggregate indebtedness of NAB under the NAB Notes as of the
Effective Date was $7,849,296.88, all of which was principal.

SECTION 2.  ACKNOWLEDGMENT RE INDEBTEDNESS UNDER THE SFSC NOTE.

         The aggregate indebtedness of SFSC under the SFSC Note as of the
Effective Date was $296,127.68, (before giving effect to the transactions
referred to below in this Agreement), consisting of $276,832.82 of principal and
$19,294.86 of accrued and unpaid interest to the Effective Date.

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SECTION 3.  SETOFF.

         On the Effective Date, NAB paid $296,127.68 of principal under NAB Note
A by setoff against (i) $276,832.82 of principal under the SFSC Note and (ii)
$19,294.86 of accrued interest under the SFSC Note.

         After giving effect to such setoff and the payment referred to in
Section 1, (i) all interest under the NAB Notes to the Effective Date has been
paid, (ii) the SFSC Note (including all principal and accrued interest to the
Effective Date) has been paid in full, (iii) the principal of NAB Note A was
reduced to $53,169.20 and (iv) the aggregate principal of all the NAB Notes
(including NAB Note A) was reduced to $7,553,169.20. NAB shall promptly return
the original of the SFSC Note to SFSC, marked "PAID."

SECTION 4.  ISSUANCE OF REPLACEMENT NOTES.

         (a) On the date hereof, NAB is issuing two promissory notes to SFSC
dated the Effective Date in the respective principal amounts of $4,000,000
("REPLACEMENT NOTE A") and $3,553,169.20 ("REPLACEMENT NOTE B"). Replacement
Note A and Replacement Note B are sometimes hereinafter referred to collectively
as the "REPLACEMENT NOTES." The Replacement Notes supersede and replace the NAB
Notes, effective as of the Effective Date. The aggregate principal of the
Replacement Notes equals the aggregate principal outstanding as of the Effective
Date under the NAB Notes (after giving effect to the setoff and payments
referred to above). The indebtedness represented by the Replacement Notes is the
same indebtedness heretofore represented by the NAB Notes. The purpose of
issuing the Replacement Notes in replacement of the NAB Notes is to facilitate
(i) the amending of the interest and payment terms applicable to such
indebtedness and (ii) the subordination of $4,000,000 of such indebtedness
referred to in Recital d., above.

         SFSC shall promptly return the originals of the NAB Notes to NAB marked
"Superseded and Replaced."

         (b) The interest and payment terms of the Replacement Notes are
summarized as follows, which summary is qualified in its entirety by reference
to the Replacement Notes themselves, whose terms shall prevail in the event of
any conflict between such terms and such summary:

                  (i)      Each Replacement Note bears interest at the rate of
                           14% per annum, payable monthly in arrears. Such
                           interest rate is the approximate average interest
                           rate applicable to the NAB Notes.

                  (ii)     The principal of Replacement Note B is payable in 22
                           installments as follows: The first 21 installments
                           shall be in the amount of $100,000.00 each, payable
                           on the last day of each month beginning on March 31,
                           2001 and ending on November 30, 2002; and the 22nd
                           installment shall be in the amount of $1,453,169.20,
                           payable on December 31, 2002.

                  (iii)    The principal of Replacement Note A is payable in
                           installments as follows: $2,000,000 on or before June
                           30, 2002; and $2,000,000 on or before December 31,
                           2002.

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                  (iv)     In addition to the scheduled payments referred to
                           above, NAB shall have the right, without premium or
                           penalty, to prepay, in whole or in part, the
                           Replacement Notes, or either of them, with any such
                           voluntary prepayments being applied first to
                           Replacement Note B.

SECTION 5.  EXTENSION FEE.

         The terms of the Replacement Notes constitute a substantial extension
of the maturities of the NAB Notes, all of which, but for this Agreement, would
be due in the year 2000. In consideration of such extensions, NAB paid SFSC an
extension fee of $100,000 on January 10, 2000.

SECTION 6.  SUBORDINATION; FEE.

         SFSC has agreed that it will subordinate Replacement Note A to NAB's
obligations to the Bank. Such subordination is being effected by a Subordination
Agreement of even date herewith among SFSC, the Bank and NAB (the "SUBORDINATION
AGREEMENT"). In consideration of SFSC's commitment to enter into the
Subordination Agreement and to induce it to do so, MPS paid SFSC a fee of
$75,000 on December 2, 1999.

SECTION 7.  MISCELLANEOUS.

         This Agreement (i) constitutes the entire agreement and understanding
of the parties with respect to the subject matter hereof (along with the
Replacement Notes and the Subordination Agreement), (ii) may not be amended
except in writing signed by both parties, (iii) shall inure to the benefit of
and be binding upon NAB, SFSC and their respective successors and assigns, (iv)
shall be governed and construed in accordance with Connecticut law, with regard
to principles of conflicts of laws and (v) may be executed in multiple
counterparts, each of which shall be deemed to be an original, and all of which
taken together shall constitute one and the same agreement. There are no
third-party beneficiaries to this Agreement.

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.

NAB ASSET CORPORATION                       STANWICH FINANCIAL SERVICES CORP.

By: /s/ Alan Ferree                         By: /s/ Charles E. Bradley, Sr.
    Alan Ferree                                 Charles E. Bradley, Sr.
    Senior Vice President                       President

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                                   SCHEDULE A

                            DESCRIPTION OF NAB NOTES

1. Promissory Note dated September 30, 1997 in the original principal amount of
$2,500,000 ("NAB NOTE A". On the Effective Date, before giving effect to the
payments and setoff referred to in this Agreement, the principal balance was
$619,837.30. This Note bears interest at 14% per annum. The maturity date is
September 30, 2000. This Note was amended by the PDA.

2. Promissory Note dated December 30, 1997 in the original principal amount of
$4,000,000. On the Effective Date, before giving effect to the payments and
setoff referred to in this Agreement, the principal balance was $4,000,000. This
Note bears interest at 13% per annum. The maturity date is January 3, 2000. This
Note was amended by the DRA and the PDA.

3. Line of Credit Note dated August 28, 1997 in a principal amount not to exceed
$5,000,000. On the Effective Date, before giving effect to the payments and
setoff referred to in this Agreement, the principal balance was $3,500,000. This
Note bears interest at 16% per annum. The maturity date is September 30, 2000.
This Note was amended by the PDA.

         All of the foregoing notes, except for the $4,000,000 note (#2), were
issued by NAB to SFSC. The $4,000,000 Note was originally issued by NAB to
Consumer Portfolio Services, Inc. ("CPS") and subsequently assigned by CPS to
SFSC.

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                                                                   Exhibit 10.24

      THIS NOTE IS SUBJECT TO A CERTAIN SUBORDINATION AGREEMENT DATED MARCH
              15, 2000 AMONG THE MAKER, THE HOLDER AND BANK UNITED.

                                PROMISSORY NOTE

                                                           Issued March 15, 2000
$4,000,000                                         Effective as of March 7, 2000

        For value received, NAB ASSET CORPORATION (the "MAKER"), a Texas
corporation, promises to pay to the order of STANWICH FINANCIAL SERVICES CORP.
(the "HOLDER"), a Rhode Island corporation, the principal amount of Four Million
Dollars ($4,000,000) in accordance with the terms of this Note.

        1. Payment of Principal. The principal of this Note shall be payable in
installments of $2,000,000 on June 30, 2002 and $2,000,000 on December 31, 2002.

        2. Interest.

                (a) The unpaid principal of this Note outstanding from time to
time shall bear interest, beginning as of March 7, 2000, at an annual rate of
fourteen percent (14%), computed on the basis of a 365-day year and continuing
until the principal hereof is repaid in full. Subject to numbered paragraph 2(b)
hereof, interest shall be payable monthly in arrears beginning March 31, 2000
and continuing thereafter on the last day of each calendar month until the
principal hereof is paid in full. In addition, if the principal hereof is paid
on other than the last day of a calendar month, then, in such case, interest
shall also be payable on the date of such principal payment.

                (b) The Maker shall have the option to defer making any or all
of the First 12 Interest Payments until March 31, 2001. As used herein, the term
"FIRST 12 INTEREST PAYMENTS" means the interest payments scheduled by the terms
hereof to be paid during the period beginning on the date hereof and ending on
February 28, 2001. If the Maker defers any of the First 12 Interest Payment
pursuant to the second preceding sentence, then, in such case, the amount of
each interest payment that is so deferred shall itself bear interest at the rate
of 14% per annum during the period from the original due date of such deferred
payment to the date such deferred payment is actually made. Each item of
additional interest provided for in this numbered paragraph 2(b) shall be
payable on the earlier to occur of (i) March 31, 2001 or (ii) the date on which
the deferred interest to which such additional interest relates is paid.

        3. Prepayments. The Maker may prepay this Note in whole or, from time to
time, in part without penalty or premium. All such prepayments shall be applied
against the required installments of principal in order of maturity thereof.

        4. Place of Payments. All payments of principal and interest under this
Note shall be

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made to the order of Holder at the address specified in numbered paragraph 12
hereof.

        5. Default; Acceleration. Maker agrees that:

        (i) if any installment of principal or interest under this Note shall
        not be paid when it is due and payable, and such failure to pay is not
        cured within ten (10) days after notice from Holder of such failure to
        pay; or

        (ii) if Maker shall suffer or permit the filing by or against the Maker
        of any petition for adjudication, arrangement, reorganization or the
        like under any bankruptcy or insolvency law (and, in the case of an
        involuntary proceeding the same is not dismissed within 30 days), make
        an assignment for the benefit of creditors or suffer or permit the
        appointment of a receiver for any part of Maker's property; or

        (iii) if the payment of any indebtedness of the Maker or MPS (as defined
        below) for borrowed money is accelerated to a date prior to the date of
        the scheduled maturity thereof as a result of the occurrence of a
        default or event of default under the loan or financing agreements or
        instruments pursuant to which such indebtedness was incurred; or

        (iv) if the Maker or MPS dissolves or commences proceedings in
        dissolution; or

        (v) if the Maker or MPS sells all or substantially all of its assets
        other than in the ordinary course of business; or

        (vi) if the Maker merges or consolidates with or into another
        corporation or entity in a transaction in which the Maker is not the
        surviving corporation

then, upon the happening of any such event (specified in items (i) through (vi),
above), the entire indebtedness and accrued interest thereon due under this Note
shall, at the option of the Holder, accelerate and become immediately due and
payable without notice, presentment, demand or any other formalities, all of
which, to the extent permitted by applicable law, the Maker hereby expressly
waives.

        As used herein, the term "MPS" means Mortgage Portfolio Services, Inc.,
a Delaware corporation and a subsidiary of the Maker.

        6. Cost of Collection. The Maker shall reimburse the Holder for all
reasonable costs and expenses, including reasonable attorneys' fees, which may
be incurred by the Holder in collecting any amounts due hereunder.

        7. Loss, Theft, Destruction or Mutilation of Note. Upon receipt by the
Maker of evidence reasonably satisfactory to the Maker of the loss, theft,
destruction or mutilation of this Note, and of indemnity or security reasonably
satisfactory to the Maker, and upon reimbursement to the Maker of all reasonable
expenses incidental thereto, and upon surrender and cancellation of this Note,
if mutilated, the Maker will make and deliver a new note of like tenor in lieu
of this Note.

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Any note made and delivered in accordance with the provision of this paragraph
shall be dated as of the date to which interest has been paid on this Note, or
if no interest has theretofore been paid on this Note, then dated the date
hereof.

        8. Governing Law. This Note shall be construed in accordance with and
governed by the laws of the State of Connecticut, without regard to principles
of conflicts of laws.

        9. Successors and Assigns. All the covenants, stipulations, promises and
agreements contained in this Note by or on behalf of the Maker or the Holder and
all rights of the Maker or the Holder contained in this Note shall bind or inure
to their respective successors, assigns, heirs and personal representatives,
whether so expressed or not.

        10. Cumulative Remedies. No course of dealing, or any delay or omission
of the Holder to exercise any right or power hereunder (including, without
limitation, any right or power arising from any default or failure of
performance of the Maker), shall exhaust, impair, waive or otherwise prejudice
any such right or power or prevent its exercise. Every right and remedy given to
the Holder hereunder, by any and all agreements executed and delivered in
connection herewith or by law may be exercised from time to time as often as the
Holder may deem expedient. No waiver by the Holder of any such default, whether
such waiver be full or partial, shall extend to or be taken to affect any
subsequent default, or to impair the rights resulting therefrom except as may be
otherwise expressly provided herein. No remedy hereunder is intended to be
exclusive of any other remedy but each and every remedy shall be cumulative and
in addition to any and every other remedy given hereunder or otherwise existing.

        11. Headings. The headings of the paragraphs of this Note are inserted
for convenience only and shall not be deemed to constitute a part hereof.

        12. Notices. All notices, requests, demands and other communications
hereunder must be in writing and shall be deemed to have been duly given if
delivered by hand or mailed by first class, registered or certified mail, return
receipt requested, postage and registry fees prepaid, and addressed as follows:

               (a)    If to Maker:       NAB Asset Corporation
                                         c/o Construction Portfolio Funding
                                         4144 North Central Expressway
                                         Dallas, Texas 75204
                                         Attention: Chief Financial Officer

               (b)    If to Holder:      Stanwich Financial Services Corp.
                                         c/o Stanwich Partners, Inc.
                                         62 Southfield Avenue
                                         One Stamford Landing
                                         Stamford, Connecticut 06902

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Any of the foregoing parties by notice in writing mailed to the other parties
may change the name and address to which notices, requests, demands and other
communications to it or him shall be mailed.

        13. Consideration. This Note is issued pursuant to, and for the
consideration recited in, a certain Second Debt Restructure Agreement dated
March 15, 2000 between the Maker and the Holder.

        IN WITNESS WHEREOF, the Maker has signed this Note by a duly authorized
officer and dated it as of the day and year first above written.

                                            NAB ASSET CORPORATION

                                            By:/s/ Alan Ferree
                                            Name: Alan Ferree
                                            Title: Senior Vice President

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