The Institutional Risk Analyst

Now let’s take a look at how some members of the banking and fintech sector are doing in the first month of 2024.

As the public debt of the US grows, after all, the implicit claim of the Treasury on all private US assets also grows.

Instead of seeking authority from Congress, Chairman Bernanke and other members of the FOMC merely turned on the public spigot.

The legal dispute between Ginnie Mae and Texas Capital Bank makes additional defaults by HECM lenders more likely...

Our view is that China has been caught in a debt deflation for the past five years.

Whether we have Donald Trump or Joe Biden in the White House next Christmas, the US seems to be on a trajectory to a financial crisis...

S&P was the first to call out the growing lack of fiscal discipline in Washington, downgrading Uncle Sam in 2011

If the FOMC raises fed funds further, bank failures and perhaps even a market access crisis for the Treasury are next.

When interest rates eventually fall those late vintage mortgage loans with 6% coupons will evaporate like spring snow in the sunshine

Are nonbank mortgage firms a risk to Ginnie Mae? Or is it really the other way around?

As the scale of Fed open market operations grew since 2008, volatility has increased, rendering the adjustment from QE to QT problematic

The entire mortgage industry will have a single point of failure with the ICE/BKI combination

The banks have left the government market. Now Ginnie Mae seems bound and determined to drive the IMBs out of government lending as well

Once again the US is coming out of a global crisis as the cleanest dirty shirt in the laundry.

Why did Elon Musk ever pretend that he was able to acquire TWTR, a transaction the US government would never allow.

Putting dollar leverage under crypto tokens – that is to say, under nothing – makes for infinite dollar risk.

The new technology that powers the Sagent-Cooper vision for servicing is already proven in the market

ICE buying the revenue streams represented by BKI is a big bet on yesterday, not a bold initiative to change the mortgage industry

Xi Jinping in China and Putin in Russia have turned their backs on the global economy to retain power

The imposition of sanctions on Russia is not as comprehensive as some press reports suggest.