As part of its disposal of U.S. consumer banking businesses, HSBC Holdings is shopping HSBC Mortgage Corp. around. As with many yard sale offerings, the property's attractiveness is up for debate. Last week, HSBC announced it was considering "a sale, merger or other business combination" of its U.S. mortgage unit, which originated $1.4 billion of loans in the first quarter. The reaction to the availability of such an asset will be a concern for not only HSBC but the mortgage industry itself. Though there is consensus that the business is going on the market at a transitional moment, banking analysts hold conflicting views of whether the origination industry is primed for growth after purging itself of sloppy competition or is in for an extended malaise. If the rosier view takes hold, HSBC Mortgage should draw interest from a range of midsize banks looking to quickly increase scale and from private-equity buyers.