i think there is hope. as noted above, they have relationships with lenders. the lenders probably don't want to take over the collateral unless things really get bad. easier to keep extending the financing and let the CT folks manage the stuff until the market returns.
it will definitely get hairy though. values are coming down fast and CT's portfolio will need some serious work. if we are lucky, they can redo their loans at a higher rate (and the underlying collateral will support the payment !!!!).
what we really need though is for them to buy some troubled loans and make some profit on those. that'll help offset some of the losses they'll probably have to absorb. kind of like doubling down on a stock, hard to get your money back if you don't double down at some point.
i'm not going to buy anymore of CT until i see insiders buying (as i've posted several times).