Update: Flying Fintechs & Zombie Banks
COIN has been helped by a groundswell of positive comment about crypto in 2023...
top of page
.png)
.png)
The Institutional Risk Analyst
© 2003-2023 | Whalen Global Advisors LLC All Rights Reserved in All Media | ISSN 2692-1812
Banks | Markets | Fintech
R. Christopher Whalen
- Sep 21
- 6 min
FSOC Frets About Nonbank Risk; Goldman Sachs Stepping Back?
GS has the weakest position in terms of funding of the top-ten banks and no real narrative for the business post-Marcus.
587 views
R. Christopher Whalen
- Sep 11
- 3 min
Bank Industry Review & Survey Q3 2023
The US banking industry has seen now two consecutive down quarters for net income caused by the Fed’s massive open market operations
851 views
R. Christopher Whalen
- Sep 5
- 6 min
Consumer Credit Collapsing? Not Yet...
Sadly for the bears in the audience, nothing would make the banks happier than if consumers would use more credit....
1,045 views
R. Christopher Whalen
- Jul 8
- 7 min
Mortgage Lenders Face Return of a Purchase Market
The “winners” in the mortgage sector will be those larger players with equally large servicing books that can access bank funding
899 views
R. Christopher Whalen
- Jun 9
- 6 min
Profile: Synchrony Financial
What can SYF tell us about the bleeding edge of unsecured consumer credit?
660 views
R. Christopher Whalen
- Feb 13
- 8 min
Ginnie Mae - Credit Suisse = ? A Biden MSR Tax? Does BKI + ICE = < 2?
Our view is that the BKI purchase is a horrible deal for ICE shareholders, a value killer of epic proportions
1,030 views
R. Christopher Whalen
- Feb 9
- 7 min
Mortgage Wrap; PennyMac Financial, Rithm Capital & MSRs
We suspect that the IMBs will be sellers of conventional assets to defend their Ginnie Mae MSRs. Banks may be buyers of conventional assets
523 views
R. Christopher Whalen
- Jan 23
- 6 min
Update: Bank of America
We hear in the channel that regulators are making their views of future loss probabilities very clear in guidance to the top banks
534 views
R. Christopher Whalen
- Dec 22, 2022
- 6 min
GNMA, FNMA Seize Assets from Reverse Mortgage Funding Estate
The US government now owns the largest reverse lender in the country.
1,298 views
R. Christopher Whalen
- Dec 12, 2022
- 4 min
Rising Interest Rates? Really?
Since 2008, dollar swap spreads have traded below Treasury yields, suggesting a persistent demand for dollars coming from offshore.
814 views
R. Christopher Whalen
- Dec 6, 2022
- 1 min
Bank M2M Losses Surge in Q3 to $347 Billion
Rapidly rising interest rates in Q3 2022 pushed down the tangible capital for the US banking industry to negative $1.9 trillion
517 views
R. Christopher Whalen
- Nov 19, 2022
- 1 min
Record Losses for Mortgage Banks Presage Tough Year Ahead
Is 2023 the year of the Return of the Distressed Loan Trade?
532 views
R. Christopher Whalen
- Nov 7, 2022
- 7 min
Brief: The Return of Home Equity Loans
Every residential mortgage loan made in 2020-2021 is likely to be underwater by the end of 2023
1,325 views
R. Christopher Whalen
- Oct 12, 2022
- 7 min
Update: U.S. Bank vs. Bank OZK; Q3 2022 Earnings Setup
How will this above-peer performer from Little Rock do in a Fed-induced recession that rivals 2008 in terms of market losses?
674 views
R. Christopher Whalen
- Aug 21, 2022
- 7 min
Interest Rates, FinTechs & MSRs
Interest rates are starting to be very positive, and bank deposit rates are barely moving, so pretense of fintech as bank killer is over
559 views
R. Christopher Whalen
- Jul 4, 2022
- 6 min
Hard Landings & Systemic Crypto
Putting dollar leverage under crypto tokens – that is to say, under nothing – makes for infinite dollar risk.
564 views
R. Christopher Whalen
- Jun 29, 2022
- 8 min
Bank Earnings Setup: JPM, USB, WFC, BAC & Citi
Most of the banks in our surveillance group are down between 10% and 30% so far this year, but none of these are particularly cheap as yet
547 views
R. Christopher Whalen
- Jun 20, 2022
- 8 min
The Fed and Housing
Issuing CMOs via the GSEs could help the FOMC out of its trading mess, but represents a monumental irony.
1,579 views
R. Christopher Whalen
- Jun 12, 2022
- 7 min
QE = Supranormal Credit Risk
Given the demand for safe assets, the true risk free rate today is probably less than zero. Ponder that Chairman Powell
557 views
Christopher Whalen
bottom of page