Is Trump Bullish for Interest Rates? Pump & Dump for GSE and Fintech Stocks
You can tell lies and damn lies about the idea of releasing Fannie and Freddie, but the SEC and FINRA cannot and will not say a word.
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The Institutional Risk Analyst
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Banks | Markets | Finance
R. Christopher Whalen
2 days ago9 min read
Housing Finance Outlook; PennyMac, Mr. Cooper & NYCB/Flagstar
NYCB and the unsold rent-stabilized assets left over from the failure of SBNY are two little surprises waiting for the next POTUS.
577 views
R. Christopher Whalen
Oct 237 min read
Powell Overshoots the Runway; Update: American Express & Charles Schwab
Last year, when a lot of people were predicting the demise of SCHW, we told our readers to calm down.
646 views
R. Christopher Whalen
Oct 187 min read
Update: Citigroup, Bank America and Goldman Sachs
How is Goldman going to extricate itself from this profoundly unattractive business with AAPL without destroying Apple Card?
428 views
R. Christopher Whalen
Oct 145 min read
Will Rohit Chopra Kill Basel III? Shrinking NIM at JPM and WFC
In opposing Basel III, Chopra is doing the bidding of Senator Elizabeth Warren (D-MA) but big banks are very happy to have no rule at all.
630 views
R. Christopher Whalen
Oct 97 min read
Citigroup + (Cenlar - Black Knight) = ?
The Citi decision to exit mortgage servicing perhaps made sense in 2017, but today not so much.
396 views
R. Christopher Whalen
Sep 228 min read
GSE Release Under Trump? Post-Rate Cut Margin Calls??
Why should a private Fannie Mae be a 20% risk weight under Basel III, but PFSI or Mr. Cooper (COOP) are 100%?
458 views
R. Christopher Whalen
Sep 162 min read
IRA Bank Book Q3 2024 Industry Survey
The Q3 interest rate rally still leaves the industry with a negative
capital position since the average securities yield is only 3%
364 views
R. Christopher Whalen
Aug 136 min read
Bank of Nova Scotia + KeyCorp = ??
If you were really, REALLY going to do mortgage warehouse lending in today's market, KEY would be the better platform, not BNS.
546 views
R. Christopher Whalen
Aug 86 min read
Market Volatility and Loan Defaults
The market tantrum which began on Friday was largely over by the market close on the following Tuesday.
1,174 views
R. Christopher Whalen
Jul 278 min read
Update: New York Community Bank & Mr. Cooper
Joe Otting does not seem to understand the value of the Flagstar correspondent lending and mortgage servicing business...
627 views
R. Christopher Whalen
Jul 255 min read
Update: CapitalOne Financial & PennyMac Financial Services
Of note, PFSI has been growing share in wholesale, a direct challenge to UWMC
334 views
R. Christopher Whalen
Jul 219 min read
Will Donald Trump Release Fannie Mae & Freddie Mac?? Really?
If JPM, PFSI or UWMC want to pay the government to wrap conventional MBS in a “AA+” sovereign rating, why should the Treasury say no?
1,553 views
R. Christopher Whalen
Jun 266 min read
Capital Confusion at Ginnie Mae & Mortgage Servicing Rights
Ginnie Mae would rather have issuers raise the NPV of the MSR in cash today than take the price risk of holding the whole MSR through time.
621 views
R. Christopher Whalen
Jun 176 min read
Update: BMO + Bank of the West = ?
BMO arguably has the weakest reserve position among the large Canadian banks....
982 views
R. Christopher Whalen
Jun 129 min read
Will Credit Risk Transfer Save the Banks? Are MSRs Overvalued?
How much in synthetic CRT transactions will be done in 2024? Our best guess is many hundreds of billions globally...
758 views
R. Christopher Whalen
May 227 min read
MBA Aftermath; Profile: Merchants Bancorp (MBIN)
When NYC is forced to recognize reality, it will already be too late to avoid another fiscal crisis.
642 views
R. Christopher Whalen
May 206 min read
Joe Biden Goes Subprime; Should Citi Buy NYCB/Flagstar?
Citi is a subprime lender. They should be directly involved in government lending.
976 views
R. Christopher Whalen
May 137 min read
Yellen FSOC Punts on Mortgage Servicers; WGA Bottom 25 Banks
Are there bank bargains down in the cellar waiting to be discovered?
907 views
R. Christopher Whalen
May 1010 min read
Freddie Mac Buying HELOCs? Really Meredith? | UWMC & Disappearing MSRs
We think Whitney’s comments about a surge in new lending from Freddie Mac buying home equity loans are poorly considered
3,574 views
Christopher Whalen
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