He expected the deal would be done in Q2 or early Q3. Management also said that they are seeing strong interest in the credit portfolio. If they cannot close a deal then they should not have mentioned it all and especially stating that it would be done in Q2 or early Q3. Meanwhile the stock price has dropped 36% from its recent high. All points that a good class action attorney will bring up at trial.
The only reason why the stock is down so low is that the shorts are speculating that a deal cannot be done. I suspect the CFO is expecting interest rates to go down so that the value of the portfolio will be higher. By waiting the stock has dropped from $38 to $28. The 10 year rate is not going lower. The CFO needs to get off his #$%$ and get the deal done. We may need to call the investors relations office and complain. Some feel a lawsuit is in order as the CEO promised a deal by now. I would not be surprised if that happens.