asx release, page-11

Yes CNP is different from RHG. All RHG has is loan book of residental loans, they have no assets beside that, therefore if everyone of their loans defaults on them, then they are screwed as you have no income, and you cannot sell defaulted loans unless at bargin prices, and it is not like you can kick the homeloaners out and look for new tenents. (Which is why their price fell in the first place.)

CNP have assets and income from shopping center tenents, therefore if all tenents defaults, then they just find new one, or sell all the assets. Hence CNP is different to RHG.


Regards