Mark-to-Market on Bank America; Update on Credit Suisse & Guild Holdings
We recently added Western Alliance (WAL) and GHLD to our portfolio
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The Institutional Risk Analyst
© 2003-2023 | Whalen Global Advisors LLC All Rights Reserved in All Media | ISSN 2692-1812
Banks | Markets | Fintech
R. Christopher Whalen
- Mar 14
- 8 min
QE & the Yellen Banking Crisis
By any reasonable standard, Janet Yellen should have already resigned, but not in the strange world of Washington.
3,143 views
R. Christopher Whalen
- Mar 11
- 6 min
Who Killed Silicon Valley Bank?; The IRA Bank Book Q1 2023
Last week not a single member of the Big Media managed to ask Fed Chairman Jerome Powell about the state of the US banking system
8,917 views
R. Christopher Whalen
- Mar 6
- 8 min
Atlas Stumbles, Silvergate Wallows; 360 Mortgage v. Fortress (and RITM)
Are nonbank mortgage firms a risk to Ginnie Mae? Or is it really the other way around?
1,738 views
R. Christopher Whalen
- Mar 2
- 6 min
RKT Sinks, UWMC Wobbles, RITM Treads Water & Goldman Doubles Down
GS is a securities dealer first and foremost and has no comparative advantage as a bank.
883 views
R. Christopher Whalen
- Feb 27
- 6 min
QT & Powell's Liquidity Trap
The Federal Open Market Committee has arguably lost control of monetary policy and has placed America's banks in grave risk.
8,599 views
R. Christopher Whalen
- Feb 23
- 7 min
The Return of Credit Risk
Fact is, Dr. Brainard has primary culpability in the growing economic pain being felt around the country.
2,357 views
R. Christopher Whalen
- Feb 21
- 6 min
Is Stripe Worth $55 Billion? Really?
CEO Patrick Collison is guiding investors and the media to a $200 million profit in 2023. Selective disclosure??
552 views
R. Christopher Whalen
- Feb 16
- 5 min
Will We See Double-Digit Residential Mortgage Rates -- Again?
As the FOMC moves short-term rates towards 6%, we expect to take another run at double-digit rates for prime residential mortgage loans.
1,394 views
R. Christopher Whalen
- Feb 13
- 8 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
1,024 views
R. Christopher Whalen
- Feb 9
- 7 min
Mortgage Wrap; PennyMac Financial, Rithm Capital & MSRs
We suspect that the IMBs will be sellers of conventional assets to defend their Ginnie Mae MSRs. Banks may be buyers of conventional assets
521 views
R. Christopher Whalen
- Feb 6
- 7 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
819 views
R. Christopher Whalen
- Feb 3
- 9 min
Two Inflation Narratives; Credit Suisse & Ginnie Mae MSRs
The big take away from Q4 2022 earnings is that credit expenses are headed higher and at a brisk pace
812 views
R. Christopher Whalen
- Jan 30
- 7 min
Why the FT is Wrong About Ally Financial
Ally is still more finance company than bank and really has no core deposit base worthy of the name.
936 views
R. Christopher Whalen
- Jan 25
- 8 min
Silvergate, Reverse RPs and the “Theology of Prosperity”
Crypto, of course, is not an asset as much as a bad idea that was given life by Quantitative Easing
854 views
R. Christopher Whalen
- Jan 23
- 6 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
522 views
R. Christopher Whalen
- Jan 19
- 9 min
Interview: Mike Patterson, Freedom Mortgage
In this issue of The Institutional Risk Analyst, we speak to Mike Patterson, COO of Freedom Mortgage.
864 views
R. Christopher Whalen
- Jan 16
- 7 min
Goldman Drops Restatement; Jamie Dimon Drops the Ball on "Frank"
The Fed’s de facto embrace of inflation encourages misallocation of economic resources on a grand scale....
709 views
R. Christopher Whalen
- Jan 13
- 6 min
Update: JPMorganChase & Wells Fargo
But nothing lasts forever in mortgage land or in financials. Stay tuned and pay attention to LT rates and spreads...
494 views
R. Christopher Whalen
- Jan 9
- 7 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.
684 views
Christopher Whalen
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