The Institutional Risk Analyst

The changes that are going to occur in Washington over the next four years will be dramatically different than during Trump I.

It’s time for the Fed to get smart on duration risk before circumstances create another money market crisis. 

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.

Last year, when a lot of people were predicting the demise of SCHW, we told our readers to calm down.

How is Goldman going to extricate itself from this profoundly unattractive business with AAPL without destroying Apple Card?

In opposing Basel III, Chopra is doing the bidding of Senator Elizabeth Warren (D-MA) but big banks are very happy to have no rule at all.

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

Why should a private Fannie Mae be a 20% risk weight under Basel III, but PFSI or Mr. Cooper (COOP) are 100%?

The Q3 interest rate rally still leaves the industry with a negative capital position since the average securities yield is only 3%

If you were really, REALLY going to do mortgage warehouse lending in today's market, KEY would be the better platform, not BNS.

The market tantrum which began on Friday was largely over by the market close on the following Tuesday.

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

If JPM, PFSI or UWMC want to pay the government to wrap conventional MBS in a “AA+” sovereign rating, why should the Treasury say no?

Ginnie Mae would rather have issuers raise the NPV of the MSR in cash today than take the price risk of holding the whole MSR through time.

BMO arguably has the weakest reserve position among the large Canadian banks....

How much in synthetic CRT transactions will be done in 2024? Our best guess is many hundreds of billions globally...

When NYC is forced to recognize reality, it will already be too late to avoid another fiscal crisis.

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