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The Institutional Risk Analyst
© 2003-2025 | Whalen Global Advisors LLC All Rights Reserved in All Media | ISSN 2692-1812
Banks | Markets | Finance


Financials: Post-Trump Victory Notes
The changes that are going to occur in Washington over the next four years will be dramatically different than during Trump I.

R. Christopher Whalen
Nov 6, 20245 min read
1,106 views


Fed Duration Trap Threatens Banks, SOMA
It’s time for the Fed to get smart on duration risk before circumstances create another money market crisis.

R. Christopher Whalen
Nov 1, 20248 min read
1,096 views


Is Trump Bullish for Interest Rates? Pump & Dump for GSE and Fintech Stocks
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.

R. Christopher Whalen
Oct 30, 20246 min read
812 views


Housing Finance Outlook; PennyMac, Mr. Cooper & NYCB/Flagstar
NYCB and the unsold rent-stabilized assets left over from the failure of SBNY are two little surprises waiting for the next POTUS.

R. Christopher Whalen
Oct 28, 20249 min read
748 views


Powell Overshoots the Runway; Update: American Express & Charles Schwab
Last year, when a lot of people were predicting the demise of SCHW, we told our readers to calm down.

R. Christopher Whalen
Oct 23, 20247 min read
708 views


Update: Citigroup, Bank America and Goldman Sachs
How is Goldman going to extricate itself from this profoundly unattractive business with AAPL without destroying Apple Card?

R. Christopher Whalen
Oct 18, 20247 min read
458 views


Will Rohit Chopra Kill Basel III? Shrinking NIM at JPM and WFC
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.

R. Christopher Whalen
Oct 14, 20245 min read
642 views


Citigroup + (Cenlar - Black Knight) = ?
The Citi decision to exit mortgage servicing perhaps made sense in 2017, but today not so much.

R. Christopher Whalen
Oct 9, 20247 min read
417 views


GSE Release Under Trump? Post-Rate Cut Margin Calls??
Why should a private Fannie Mae be a 20% risk weight under Basel III, but PFSI or Mr. Cooper (COOP) are 100%?

R. Christopher Whalen
Sep 22, 20248 min read
486 views


IRA Bank Book Q3 2024 Industry Survey
The Q3 interest rate rally still leaves the industry with a negative
capital position since the average securities yield is only 3%

R. Christopher Whalen
Sep 16, 20242 min read
369 views


Bank of Nova Scotia + KeyCorp = ??
If you were really, REALLY going to do mortgage warehouse lending in today's market, KEY would be the better platform, not BNS.

R. Christopher Whalen
Aug 13, 20246 min read
548 views


Market Volatility and Loan Defaults
The market tantrum which began on Friday was largely over by the market close on the following Tuesday.

R. Christopher Whalen
Aug 8, 20246 min read
1,195 views


Update: New York Community Bank & Mr. Cooper
Joe Otting does not seem to understand the value of the Flagstar correspondent lending and mortgage servicing business...

R. Christopher Whalen
Jul 27, 20248 min read
635 views


Update: CapitalOne Financial & PennyMac Financial Services
Of note, PFSI has been growing share in wholesale, a direct challenge to UWMC

R. Christopher Whalen
Jul 25, 20245 min read
341 views


Will Donald Trump Release Fannie Mae & Freddie Mac?? Really?
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?

R. Christopher Whalen
Jul 21, 20249 min read
3,925 views


Capital Confusion at Ginnie Mae & Mortgage Servicing Rights
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.

R. Christopher Whalen
Jun 26, 20246 min read
650 views


Update: BMO + Bank of the West = ?
BMO arguably has the weakest reserve position among the large Canadian banks....

R. Christopher Whalen
Jun 17, 20246 min read
990 views


Will Credit Risk Transfer Save the Banks? Are MSRs Overvalued?
How much in synthetic CRT transactions will be done in 2024? Our best guess is many hundreds of billions globally...

R. Christopher Whalen
Jun 12, 20249 min read
770 views


MBA Aftermath; Profile: Merchants Bancorp (MBIN)
When NYC is forced to recognize reality, it will already be too late to avoid another fiscal crisis.

R. Christopher Whalen
May 22, 20247 min read
646 views


Joe Biden Goes Subprime; Should Citi Buy NYCB/Flagstar?
Citi is a subprime lender. They should be directly involved in government lending.

R. Christopher Whalen
May 20, 20246 min read
990 views
Christopher Whalen
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