Record Losses for Mortgage Banks Presage Tough Year Ahead
Is 2023 the year of the Return of the Distressed Loan Trade?
The Institutional Risk Analyst
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R. Christopher Whalen
- Nov 17
- 7 min
Extension Risk Threatens US Banks
There are literally dozens of banks in the US made insolvent by the policy moves of the FOMC over the past year.
1,084 views
R. Christopher Whalen
- Sep 11
- 8 min
Interview: David Stevens on GNMA Capital Rule & ICE + BKI
The entire mortgage industry will have a single point of failure with the ICE/BKI combination
1,654 views
R. Christopher Whalen
- Sep 6
- 5 min
Pink Floyd: Inflation & Asset Prices
The assumption of price volatility on the part of consumers and business managers is at the heart of inflation expectations
479 views
R. Christopher Whalen
- Aug 21
- 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
502 views
R. Christopher Whalen
- Aug 15
- 9 min
Universal Banks | Morgan Stanley, Goldman Sachs, Charles Schwab, Raymond James & Stifel
Total noncore funding at GS was over $700 billion at the end of Q1 2022 vs $321 billion for MS.
366 views
R. Christopher Whalen
- Aug 10
- 5 min
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.
661 views
R. Christopher Whalen
- Jul 31
- 8 min
Short Collateral & Long Tantrums
Demand for risk-free collateral and liquidity is largely a function of how JPMorgan (JPM) CEO Jamie Dimon feels about risk on any given day
833 views
R. Christopher Whalen
- Jul 24
- 6 min
Questions for Chairman Powell
QE has created a gigantic interest rate mismatch across markets for banks, non-banks and other financial intermediaries including the GSEs
494 views
R. Christopher Whalen
- Jul 18
- 3 min
Dollar Remains World Reserve Currency
Once again the US is coming out of a global crisis as the cleanest dirty shirt in the laundry.
481 views