The Institutional Risk Analyst

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.

Are there bank bargains down in the cellar waiting to be discovered?

We think Whitney’s comments about a surge in new lending from Freddie Mac buying home equity loans are poorly considered

The survivors in mortgage finance optimize operations around purchasing loans from brokers/ correspondents, and direct to consumer (DTC)

McCargo's actions and the fact that the case has not been dismissed in its entirety is very unhelpful given current market conditions.

BK and Vanguard are above the 4.9% legal limit on ownership of voting shares of a bank. This fact gives the FDIC et al the power...

The net losses disclosed by BAC and the other large banks at the end of Q4 2023 are significantly understated...

Despite what Joe Biden says about helping Americans with the soaring cost of housing, he really protects Black Rock (BK), Pimco et al

Industry leaders believe that the FHFA wants the GSEs to offer issuers "repurchase insurance" to the tune of 25bps per loan.

If President Trump starts talking about fixing the federal budget deficit and redeveloping moribund urban real estate, he’d win in November

While there are a great number of people inside the Fed who ponder the appropriate level of reserves in the system, they don't really know

We can all pretend that the collapse of valuations for many commercial and multifamily properties is not a major problem. Or we can act now

Q: What do Silicon Valley Bank, First Republic Bank, Signature Bank and New York Community Bank have in common? Auditor, KPMG.

The Basel III proposal reflects a view of financial risks facing US banks that is decades out of date and ignores market risk

Is AFRM maturing from a hot new fintech entrant to a familiar face headed for a bank license?? Yikes.

This morning, banks are buying funding from the BTFP below 4.85% and selling Fed funds at 5.5%. 

The mood in the Dallas mortgage community is subdued, much like the atmosphere after an especially good party.

Baring some emergency, the Fed seems on track to keep interest rates at current levels indefintely.