The cherry picking of the mortgage book of RHG by the firm's bankers is underway. RHG told the ASX yesterday that National Australia Bank enforced rights to buy $440 million worth of home loans at par.This means NAB earns most of the elevated margins on this stock of home loans (less the servicing fees payable) and RHG misses out on them - and an event of the type foreshadowed by RHG in prior guidance to the market.RHG nevertheless told the ASX that it was standing by its forecast, made two months ago, of an operating profit in the year to June 2010 of between $55 million and $65 million.