Citigroup + (Cenlar - Black Knight) = ?
The Citi decision to exit mortgage servicing perhaps made sense in 2017, but today not so much.
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The Institutional Risk Analyst
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Banks | Markets | Finance
R. Christopher Whalen
Jul 306 min read
Yellen's FSOC: Housing Policy Dreams vs Mortgage Market Reality
Yellen's proposal for a backstop is merely a canard to help Treasury avoid another fiasco next time a Ginnie Mae issuer fails
713 views
R. Christopher Whalen
Nov 1, 20236 min read
Update: PennyMac Financial Services
If we are marking balance sheet assets to actual market in the age of deflation, what of the heavily modeled world of servicing assets?
510 views
R. Christopher Whalen
Mar 17, 20238 min read
Mark-to-Market on Bank America; Update on Credit Suisse & Guild Holdings
We recently added Western Alliance (WAL) and GHLD to our portfolio
2,718 views
R. Christopher Whalen
Nov 4, 20225 min read
TIAA Sells Everbank; Mortgage Earnings Wrap
The big news this week starts with the poor showing by Rocket Companies (RKT), reporting a loss for Q3 2022 and a big decline in volumes.
309 views
R. Christopher Whalen
Aug 10, 20225 min read
The FOMC Embraces Debt Deflation
The deflation of 2023 is about marking down all types of real assets to the price level that equates with a non-QE world.
672 views
R. Christopher Whalen
Aug 7, 20227 min read
Update: Guild Mortgage & Block Inc.
Since Block has not yet changed its ticker symbol, perhaps Mr. Dorsey will eventually change the company's name back to Square...
358 views
R. Christopher Whalen
Apr 4, 20222 min read
The Residential Mortgage Finance Top Twenty Seven
Who is going to acquire and restructure Blend Labs (BLND) before this newbie-fintech-something runs out of cash?
314 views
R. Christopher Whalen
Mar 12, 20224 min read
Update: Guild Mortgage
In our view, Guild Mortgage is one of the highest quality businesses in the residential mortgage space.
299 views
R. Christopher Whalen
Nov 12, 20216 min read
Update: Blend Labs, Guild Mortgage and United Wholesale Mortgage
To paraphrase our friend and fellow mortgage maven Rob Chrisman, ponder a 2022 lending market that’s 75% purchases and just 4.79 million uni
333 views
R. Christopher Whalen
Aug 16, 20215 min read
Update: Rocket Companies and United Wholesale Mortgage
Growing numbers of investors are burned by mortgage stocks. Big question: Will the industry snap back due to now falling interest rates?
402 views
R. Christopher Whalen
Aug 9, 20215 min read
Update: Mr. Cooper & New Residential Investment
The big surge in income and net worth caused by the FOMC last year is rapidly ending. Winter has returned to mortgage land...
584 views
R. Christopher Whalen
Apr 5, 202113 min read
Update: Commercial, Residential Loans & MSRs
We continue to believe that issuers and funds should be accumulating conventional servicing. Rates bottomed in February...
418 views
R. Christopher Whalen
Nov 12, 20207 min read
Nonbank Update: Rocket Companies
Because of forward liquidity and credit concerns, the window for IMBs to tap the public equity markets appears to have closed for now
554 views
Christopher Whalen
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