But in general, hopefully, I've shown to you that we can write the loan amount as the present value of all of the payments.

Well, I'm sorry, Mrs. Thornton, but it is against bank policy to extend a loan for an exorcism.

loans, plus whatever they have left from the original 80,000

And they say, you know what?

On the other hand, that loan be a bad idea if I had insolvency because it would just be throwing good money after bad.

Whether people will continue to loan them money.

Foreclose means that Sal isn't paying on his debt, so we're going to take the collateral back that he gave for the loan.

In this situation, you take your payment, you discount it by your monthly interest rate, you get the loan amount.

So essentially, instead of Countrywide being responsible for my loan, my payments now go to these investors.

You'll be paid according to the amount of work you do.

And when the 1 billion came from that local bank, all the payments, the interest payments, went to the bank.

That's its asset it has.

What are you carrying?

And then year 10, I pay the 100,000 plus I pay back the 1 million.

And the payments?

Well we learned what happens.

That will now compound over the next month.

What's this, dear?

He probably did build equity over that 10 years from 1995 to 2005, but even if he didn't, even if all he did was pay the interest on this 80,000 loan.

You're going to pay it over 30 years, or you could say that's 360 months.

And you say, this group of the CDOs, they'll get the first payments. or if any payments that go, immediately go to this very senior tranche, right?

Because some of them have paid, and some of them are still paying.

Payment

Pay up

But the important thing to realize is that these payments

I'm pulling out of his scheme.

We were only getting paid for DeMarco.

He owned Mark after that dinner.

Please use an alternative method of payment.

I've essentially become the lender to the home owner, and so the home owner's morgage payment will now come to me the Investment Bank .

And the corollary of more people willing to lend, is you that the actual standards go down.

97 percent of all the scheduled repayments came back to us on time.

Does it have to be the full amount?

Processing Payment

Number of periods

So all of these are payments.

And when will you settle your account?

So what they do is out of this 10 , they pay them some of the basis points.

So actually, let me do that.

And today, less than five years in,

Because it's 10 . 100 million in payments.

And so with patient capital from Acumen and other organizations,

Coupons per year

Then we'll expect payment.

It's just a deposit kind of thing.