Selling The Good Assets and Keeping The Bad.....?
HCG sold a portfolio of their commercial mortgages but apparently not any residential mortgages even though I believe residential mortgages make up the lion's share of their book..........
I think HGC's residential mortgages are the problem and I suspect other parties either don't want them or want a steep discount to take them, so HCG is selling of their quality assets instead....not a good sign......
It could be that the company and OSFI is trying to conduct an orderly wind-down of HCG's operations......the big question for common shareholders is: What will HCG's common shares be worth in the future (3 months, 6 months, 1 year + down the line....)...?