The Institutional Risk Analyst

The majority of the actual cash profit generated from residential lending is found in the mortgage servicing rights (MSRs).

Selling the Treasury's control position in the GSEs while dragging the furious shareholders along behind is not an attractive opportunity

Yes, that's right, we are going to downgrade $8 trillion in GSE MBS and hundreds of billions in corporate debt.

BLND is generating operating leverage via cost reductions, another way of saying that management is slowly winding up the business.

Notice that SQ co-founder Jack Dorsey styles himself as "block head" in the corp roster, a silly affectation that does not help the stock

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. 

NYCB and the unsold rent-stabilized assets left over from the failure of SBNY are two little surprises waiting for the next POTUS.

The Citi decision to exit mortgage servicing perhaps made sense in 2017, but today not so much.

Yellen's proposal for a backstop is merely a canard to help Treasury avoid another fiasco next time a Ginnie Mae issuer fails

Joe Otting does not seem to understand the value of the Flagstar correspondent lending and mortgage servicing business...

Of note, PFSI has been growing share in wholesale, a direct challenge to UWMC

Citi is a subprime lender. They should be directly involved in government lending.

The survivors in mortgage finance optimize operations around purchasing loans from brokers/ correspondents, and direct to consumer (DTC)

If the run-of-the-mill Republic First interest rate mark is 13.3% of assets that is not just wiping out one bank’s 8% capital but also FDIC

We see higher credit costs, narrowing NIM and still rising funding costs squeezing the banking industry in Q1 2024...

Industry leaders believe that the FHFA wants the GSEs to offer issuers "repurchase insurance" to the tune of 25bps per loan.

While there are a great number of people inside the Fed who ponder the appropriate level of reserves in the system, they don't really know

Q: What do Silicon Valley Bank, First Republic Bank, Signature Bank and New York Community Bank have in common? Auditor, KPMG.

Baring some emergency, the Fed seems on track to keep interest rates at current levels indefintely.

Was the breakdown of the normally stable and, indeed, routine workings of the Clearinghouse the result of bad actors?