3 billion in loans held for sale can go either way. If interest rates rise the value of the portfolio drops. I rates drop the value goes up. Regardless I would not want to be short right now. Hold on this should be fun.
Well , Sort of. They have commitments in place with several investors before they even book a loan. They don't have auction-like sales after accumulating a big portfolio that go to the highest bidder. There is more predetermination than that.