New Residential Pivots, Gets "Rithm"
NRZ must pay $400 million to Fortress to end the relationship with the external manager, a final act of squeezing NRZ shareholders
The Institutional Risk Analyst
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R. Christopher Whalen
- Jan 12
- 8 min
Q4 Earnings | Big Banks & QE
In the short-run rising interest rates and spreads will help bank earnings. But where is the next credit hot spot?
641 views
R. Christopher Whalen
- Jan 4
- 6 min
Mortgage Crises Yesterday and Today
As we move into Q4 2021 earnings, keep your eyes peeled for news of restructuring of urban commercial commercial and multifamily properties
757 views
R. Christopher Whalen
- Dec 13, 2021
- 11 min
A Bull Case for US Banks?
We ask whether bank fundamentals are starting to catch up to the very full equity market valuations , up 40% since the end of 2020
500 views
R. Christopher Whalen
- Nov 10, 2021
- 8 min
Is New York City Coming Back?
Over the next several years, as the economic cost of COVID becomes full visible, New York City may face its second financial crisis
544 views
R. Christopher Whalen
- Oct 18, 2021
- 8 min
Interview: Stan Middleman on the Outlook for Housing and the Economy
This week we speak with Stan Middleman, founder and CEO of Freedom Mortgage, about the US economy and the outlook for residential mortgages
927 views
R. Christopher Whalen
- Oct 12, 2021
- 6 min
Bank Earnings Setup: Rebound to 2020
Many of the better managed financials that we track have become sellers of assets rather than buyers in the past several months.
312 views
R. Christopher Whalen
- Sep 24, 2021
- 5 min
Joe Biden Doubles Down on Housing
After years of FOMC-induced asset price inflation, does the housing market really need more help?
883 views
R. Christopher Whalen
- May 17, 2021
- 5 min
Joe Biden Declares War on Family Farms, Owner Occupied Businesses and Home Ownership
Why is Joe Biden declaring war on American family farmers, investors in multifamily real estate and Main Street USA?
2,829 views
R. Christopher Whalen
- Apr 12, 2021
- 6 min
Forbearance, Shrinking NIM & Prepayments Menace US Financials
Simply stated, US banks are twice as expensive as they were a year ago looking at earnings and assets....
828 views
R. Christopher Whalen
- Apr 5, 2021
- 13 min
Update: Commercial, Residential Loans & MSRs
We continue to believe that issuers and funds should be accumulating conventional servicing. Rates bottomed in February...
410 views
R. Christopher Whalen
- Mar 25, 2021
- 7 min
Update: Q1 2021 Bank Earnings
US banks are running at income levels that are less than half of a year ago...
309 views
R. Christopher Whalen
- Feb 25, 2021
- 10 min
Interview: Ed Kane on Inflation & Disruption
This is a really bad time to be focused on macroeconomic data....
820 views
R. Christopher Whalen
- Feb 3, 2021
- 6 min
Profile: Bank OZK -- It's All About the NIM
Significantly, OZK predicts shrinking CRE loan volumes in 2021....
339 views
R. Christopher Whalen
- Jan 29, 2021
- 8 min
Update: Commercial & Residential Real Estate, MSRs
Most of midtown Manhattan’s offices and other structures are unused. Commuter volumes are 10% of pre-COVID levels.
704 views
R. Christopher Whalen
- Dec 28, 2020
- 8 min
Outlook 2021: Financials & Credit Markets
New issue volumes in all of the major securities asset classes other than Treasury debt are trending lower as 2021 begins....
764 views
R. Christopher Whalen
- Oct 12, 2020
- 7 min
Top Five US Banks: Q3 2020 Earnings Setup
There is a reason why the smart money on Wall Street is creating new strategies focused on non-performing loans...
707 views
R. Christopher Whalen
- Sep 28, 2020
- 11 min
Bank Profile: Ally Financial Inc
ALLY has all of the required attributes for inclusion in The IRA Bank Dead Pool....
718 views
R. Christopher Whalen
- Jul 27, 2020
- 14 min
Bank Profile: The Goldman Sachs Group
GS is the smallest of the global investment banks but the most highly levered of the large US banking groups
300 views
R. Christopher Whalen
- Jul 12, 2020
- 7 min
Banks: Value Tease or Value Trap?
The Street wants to own these bank stocks, plain and simple....
882 views