Citigroup + (Cenlar - Black Knight) = ?
The Citi decision to exit mortgage servicing perhaps made sense in 2017, but today not so much.
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The Institutional Risk Analyst
© 2003-2024 | Whalen Global Advisors LLC All Rights Reserved in All Media | ISSN 2692-1812
Banks | Markets | Finance
R. Christopher Whalen
Aug 136 min
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.
543 views
R. Christopher Whalen
Jul 306 min
Yellen's FSOC: Housing Policy Dreams vs Mortgage Market Reality
Yellen's proposal for a backstop is merely a canard to help Treasury avoid another fiasco next time a Ginnie Mae issuer fails
712 views
R. Christopher Whalen
Jul 219 min
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?
1,336 views
R. Christopher Whalen
Jul 710 min
Goldman Sachs Fails Fed Stress Test
Notice that the Fed stress test is silent on trillions of dollars in mark-to-market losses facing US banks from COVID-era securities
2,976 views
R. Christopher Whalen
May 86 min
Portfolio Update & Mortgage Survivors
The survivors in mortgage finance optimize operations around purchasing loans from brokers/ correspondents, and direct to consumer (DTC)
473 views
R. Christopher Whalen
May 15 min
Then Old Media Became Redunzl
When will Disney decide to sell some or all of its streaming operations to keep the lights on at its theme parks?
537 views
R. Christopher Whalen
Apr 217 min
TCBI v Ginnie Mae Goes to Trial | Outlook for Commercial & Residential Mortgage Finance
McCargo's actions and the fact that the case has not been dismissed in its entirety is very unhelpful given current market conditions.
1,179 views
R. Christopher Whalen
Mar 67 min
Does Kathy Hochul Have a New York Community Bank Endgame?
FDIC Chairman Gruenberg ought to tell New York State to take over the rent controlled loans from Signature, NYCB and other lenders...
2,009 views1 comment
R. Christopher Whalen
Feb 410 min
Assume Loss Given Default > 100% | PennyMac & Western Alliance Bank
Q: What do Silicon Valley Bank, First Republic Bank, Signature Bank and New York Community Bank have in common? Auditor, KPMG.
2,606 views
R. Christopher Whalen
Jan 187 min
Banks Slow Walk Commercial Real Estate Losses
As reflected in the valuations for JPM, WFC and BXMT, institutional investors are still not that concerned about commercial real est losses
762 views
R. Christopher Whalen
Dec 21, 20237 min
Update: Citigroup Fights for Credibility
Citigroup picked up almost 10 points of book value since the end of Q3 2023.
611 views
R. Christopher Whalen
Nov 8, 20235 min
Update: Bank of America
If you conduct a fire sale analysis of BAC's balance sheet as of Q3 2023, the result more than wipes out the bank's tangible equity
1,099 views
R. Christopher Whalen
Nov 6, 20234 min
ACH: The Bank Deposit Ain't in the Mail
Was the breakdown of the normally stable and, indeed, routine workings of the Clearinghouse the result of bad actors?
1,191 views
R. Christopher Whalen
Oct 2, 20236 min
Credit Suisse\UBS to Apollo: Bye, Bye
UBS ultimately seems intent upon running off the remaining US mortgage assets, including a few billion in Ginnie Mae MSR financings
843 views
R. Christopher Whalen
Feb 13, 20238 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
1,045 views
R. Christopher Whalen
Feb 6, 20237 min
Goldman Sachs + Bank of New York Mellon = ?
The risk-adjusted return on capital for BK is negative and probably lower than Goldman, the highest risk large US bank
1,164 views
R. Christopher Whalen
Jan 23, 20236 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
536 views
R. Christopher Whalen
Jan 19, 20239 min
Interview: Mike Patterson, Freedom Mortgage
In this issue of The Institutional Risk Analyst, we speak to Mike Patterson, COO of Freedom Mortgage.
922 views
R. Christopher Whalen
Jan 9, 20237 min
Crypto Collateral Damage Mounts
In other words, those residual claims on crypto issuers that have been trading at pennies on the dollar may have no value whatsoever.
692 views
Christopher Whalen
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