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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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                                                                   EXHIBIT 10.15

                                    AGREEMENT

This Agreement (the "AGREEMENT") is entered into as of October 4, 2000 by and
between realestateespanol.com, Inc., a Delaware corporation ("REE"), and the
National Association of Hispanic Real Estate Professionals ("NAHREP").

                                    RECITALS

     A.   REE has developed an Internet website, currently located on the
Internet at www.realestateespanol.com, which enables customers to search for
property listings and real estate agents, and to apply for mortgage loans from
companies offering their products and services through REE (the "REE SITE"). In
addition, REE offers the same or similar products on corporate Internet sites
and co-branded sites, including but not limited to Web portals, which it will
develop from time to time with the cooperation and agreement of various business
enterprises.

     B.   NAHREP is a non-profit trade association representing the interests of
Hispanic real estate professionals.

     C.   NAHREP desires to provide its members with access to Freddie Mac's
Loan Prospector (the "LOAN PROSPECTOR CONTENT") service via the REE Site as part
of an effort to bring the benefits of technology to mortgage origination for
low- and moderate-income Hispanic and Latino borrowers ("Hispanic Community
Technology Initiative").

     D.   To implement the Hispanic Community Technology Initiative, REE and
NAHREP have entered into a Memorandum of Understanding (the "MOU") with the
National Council of La Raza ("NCLR") and Freddie Mac.

     NOW, THEREFORE, for and in consideration of the mutual covenants and
agreements contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

                                    AGREEMENT

1.   REE OBLIGATIONS.

     1.1. REE will host, control and maintain the REE Site and shall host the
          Freddie Mac technology tools necessary to sponsor the Loan Prospector
          Content on the REE Site. All content on the REE Site other than the
          Loan Prospector Content shall constitute the "REE CONTENT."

     1.2. Within 15 days after signing the MOU and receiving $100,000 from
          NAHREP, this Agreement and receiving payment from NAHREP as provided
          in Section 2(a), REE will donate 200 computers (the "COMPUTERS")
          without charge to NAHREP, which shall distribute all the Computers to
          NCLR and NCLR affiliates as agreed to by REE, NAHREP, NCLR and Freddie
          Mac.

     1.3. REE will develop a web-based technology tool (the "WEB TOOL") that
          will be distributed to NCLR and NCLR affiliates.

     1.4. REE will develop and pilot the Web Tool to the commercially reasonable
          satisfaction of REE, NAHREP, Freddie Mac and NCLR prior to full
          implementation of the Web Tool.
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2.   NAHREP OBLIGATIONS. In return for its sponsorship of the Web Tool on the
     REE Site, NAHREP will pay REE (a) $100,000 within five days of signing the
     MOU or (2) within five days of the payment of any sum of money received
     from Freddie Mac to NAHREP for the purpose of funding all requirements of
     the terms of the MOU, whichever is later, and (b) $150,000 either (i) on or
     before January 31, 2001, or (ii) within five days of the payment of any sum
     of money received from Feddie Mac to NAHREP for the purpose of funding all
     requirements of the terms of the MOU, whichever is later.

3.   TERM; TERMINATION.

     3.1. TERM. The term of this Agreement will coincide with the term of the
          MOU.

     3.2. SURVIVAL. Notwithstanding the foregoing, the provisions of Section 4
          shall survive any termination, cancellation or expiration of this
          Agreement.

4.   TRADEMARK AND CONTENT OWNERSHIP. REE will retain all right, title and
     interest in and to its trademarks, service marks and trade names worldwide,
     including any goodwill associated therewith, subject to the limited license
     granted to NAHREP hereunder. Any use of any such trademarks by NAHREP shall
     inure to the benefit of REE and NAHREP shall take no action that is
     inconsistent with REE's ownership thereof. REE will retain all right,
     title, and interest in and to the REE Site and the REE Content worldwide
     (including, but not limited to, ownership of all copyrights, look and feel
     and other intellectual property rights therein).

5.   LIABILITY.

     5.1. NAHREP understands that REE is not liable for and makes no warranty
          that the REE Site will be free from interruption, secure, or error
          free, or accurate or reliable with respect to the content provided on
          the REE Site. REE is not responsible for any user's inability to
          access the REE Site for any reason. In no event shall REE's liability
          under this Agreement exceed $100.

     5.2. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, REE AND ITS
          AFFILIATES AND SUPPLIERS AND THEIR DIRECTORS, OFFICERS AND EMPLOYEES
          ARE NOT RESPONSIBLE OR LIABLE TO NAHREP OR THIRD PARTIES FOR ANY
          DAMAGES, WHETHER IN CONTRACT OR TORT, INCLUDING BUT NOT LIMITED TO
          INCIDENTAL OR CONSEQUENTIAL DAMAGES, INDIRECT, SPECIAL, PUNITIVE, OR
          EXEMPLARY DAMAGES FOR LOSS OF BUSINESS, LOSS OF PROFITS, BUSINESS
          INTERRUPTION, OR LOSS OF BUSINESS INFORMATION ARISING OUT OF THE USE
          OF OR INABILITY TO USE THE SERVICES OR THIS AGREEMENT, OR FOR ANY
          CLAIM BY ANY OTHER PARTY, EVEN IF REE HAS BEEN ADVISED OF THE
          POSSIBILITY OF SUCH DAMAGES. THE LIMITATIONS ON LIABILITY CONTAINED IN
          THIS AGREEMENT SURVIVE THE TERMINATION OF THIS AGREEMENT. WITHOUT
          LIMITING THE GENERALITY OF THE FOREGOING, THE MAXIMUM LIABILITY OF REE
          TO THE CUSTOMER FOR WHATEVER REASON IS LIMITED TO US $100 AND NO MORE.
          THE REMEDY THAT IS PROVIDED IN THIS SECTION IS EXCLUSIVE.

6.   NAHREP'S BUSINESS. NAHREP represents and warrants that its services,
     products, materials, data, and equipment do not, as of the date of this
     Agreement, and shall not during the term of this agreement, in any way
     violate any applicable law or regulation.

7.   DEFAULT. Upon a Default (as hereafter defined) by either party to this
     Agreement, without prejudice to its rights and remedies at law and in
     equity, the non-defaulting party shall have no further obligations or
     liability under this Agreement. A Default is (i) a breach of this Agreement
     by a party that is not remedied within ten business days after receiving
     written notice from the other party setting forth the specific default or
     (ii) the filing of a voluntary petition in bankruptcy, the consent to the
     filing of a

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     bankruptcy petition, the filing of a petition by or against a party under
     the Federal Bankruptcy Code, any assignment for the benefit of creditors,
     application for, or consent to, the appointment of any receiver, trustee or
     custodian or similar officer or the entry into an agreement of composition
     with its creditors.

8.   EXCLUSION OF WARRANTIES BY REE. REE SHALL NOT BE LIABLE FOR ANY DAMAGES
     SUFFERED OR INCURRED BY NAHREP OR ANY THIRD PARTY ARISING OUT OF ANY
     FAULTS, INTERRUPTIONS OR DELAYS ON THE REE SITE AND ANY INACCURACIES,
     ERRORS, OR OMISSIONS IN THE REE CONTENT ON THE REE SITE. EXCEPT AS
     EXPRESSLY STATED IN THIS AGREEMENT, THERE ARE NO WARRANTIES, CONDITIONS,
     GUARANTIES, OR REPRESENTATIONS (AS USED IN THIS SUBSECTION "WARRANTIES") AS
     TO MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR OTHER WARRANTIES,
     WHETHER EXPRESS OR IMPLIED, IN LAW OR IN FACT, ORAL , OR IN WRITING. EACH
     PARTY HEREBY ACKNOWLEDGES THAT IT HAS NOT RELIED UPON ANY WARRANTY MADE BY
     THE OTHER EXCEPT AS SPECIFICALLY SET FORTH IN THIS AGREEMENT.

9.   NOTICES. Except as otherwise provided herein, whenever any notice, request,
     consent, approval or other communication shall be given by one party hereto
     to the other, such communication shall be in writing and shall be delivered
     by registered or certified mail, return receipt requested, addressed as
     follows:

          If to REE:

                    400 East Van Buren, 4th Floor
                    Phoenix, AZ  85004
                    Fax: (602) 716-0200
                    Attn: Gary L. Trujillo, Chairman and CEO

          If to NAHREP:

                    NAHREP
                    1650 Hotel Circle No., Suite 215-A
                    San Diego, CA 92105
                    FAX: (619) 209-4755
                    Attn: Ernest J. Reyes

     All notices hereunder shall be effective: (a) five days after deposit in
     the mail; or (b) upon delivery, if delivered in person, by commercial
     express service or by facsimile transmission.

10.  ASSIGNMENT. Neither party may assign or delegate this Agreement or any of
     its licenses, rights or duties under this Agreement without the prior
     written consent of the other, except that either party may assign this
     Agreement to a person or entity into which it has merged or which has
     otherwise succeeded to all or substantially all of its business, stock, or
     assets, and which has assumed in writing or by operation of law its
     obligations under this Agreement. Each party agrees that in any merger in
     which it is not the surviving company, the surviving company will assume,
     in writing or by operation of law, such party's obligations under this
     Agreement. Subject to the foregoing, the provisions of this Agreement shall
     apply to and bind the successors and permitted assigns of the parties.

11.  AMENDMENTS; WAIVERS. This Agreement may not be amended, modified or
     superseded, unless expressly agreed to in writing by both parties. No
     provision of this Agreement may be waived except by an instrument in
     writing executed by the party against whom the waiver is to be effective.
     The failure of either party at any time or times to require full
     performance of any provision hereof will in no manner affect the right of
     such party at a later time to enforce the same.

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12.  GOVERNING LAW. This Agreement shall be governed in all respects by the laws
     of the State of Arizona without regard to its choice of law analysis.

13.  JURISDICTION AND VENUE. Any dispute or controversy between the parties to
     this Agreement relating to or arising out of this Agreement, including, but
     not limited to, matters reserved for mutual agreement, shall be exclusively
     vested in the Courts of the State of Arizona located in Phoenix, Arizona.

14.  SEVERABILITY. In the event that any provision contained in this Agreement
     or the application thereto to any circumstance is for any reason held to be
     invalid or unenforceable, such provision shall be ineffective to the
     minimum extent of such invalidity or unenforceability and the remainder of
     this Agreement will remain valid and enforceable according to its terms
     with respect to all other circumstances.

15.  COUNTERPARTS. This Agreement may be executed in one or more counterparts,
     each of which shall constitute an original and all of which shall
     constitute one and the same document.

16.  ATTORNEYS' FEES. In the event of any dispute arising under this Agreement,
     the prevailing party shall be entitled to reimbursement by the other party
     for reasonable attorneys' fees and costs incurred by the prevailing party.

17.  REQUISITE AUTHORITY. Each of the individuals executing this Agreement on
     behalf of REE or NAHREP, as the case may be, represents and warrants in his
     or her individual capacity that he or she has the requisite authority to
     bind such party to this Agreement and the MOU.

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     IN WITNESS WHEREOF, the parties have hereunto set their hands as of the
date first above written.

                                       REALESTATEESPANOL.COM

                                       By: /s/ Gary L. Trujillo
                                          ----------------------
                                       Gary L. Trujillo, Chairman and CEO

                                       NAHREP

                                       By: /s/ Ernest J. Reyes
                                          ----------------------
                                       Name: ERNEST J. REYES
                                       Title: Chairman

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