RE:RE:RE:RE:RE:RE:RE:No sanctions for 43 out of 45 HCG brokersWhat kind of company give their shareholders a list of everyone that was fired in the quarter along with the reason? Unless you are part of the Board of Directors, CEO or Head of a Department who gives a sh!t who got fired? As mentioned by others the 2 out of 45 is a non issue. The only reason why the shorts are going crazy is that they think this is 2008 again but instead of having multiple banks writing billions of dollars of bad loans you have 2 brokers that bended the rules in a single company which has a super low default ratio with access to extra credit (which was not the case in 2008).
Tater78 wrote: This really isn't complicated, but people here are so dumb they can't get it through their heads. Management had a duty to disclose that they had fired brokers responsible for 10% of their originations. They then could have explained that they didn't anticipate the effects to be large and let the market decide. Instead, they hid that info, sold their shares, then eventually disclosed it and the stock dropeed 20%. I can't understand why anyone would defend this.
Prisme13 wrote:
You take for granted that the 2 corrupt brokers that processed 10% of the claims single handily "brought the business" in Home Capital. There are many factors that make a broker and home buyer choose a lender and it does not solely depend on the broker - promotions and incentives are easy examples. The two brokers that left -a year ago- have been replaced and volume has obviously returned between their departure and their replacement. So your assumption that HCG suffered a permanent -10% volume drop is greatly exaggerated and impossible.