Update: PennyMac Financial Services
If we are marking balance sheet assets to actual market in the age of deflation, what of the heavily modeled world of servicing assets?
top of page
.png)
.png)
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
- Jul 28
- 5 min
Washington Trip Notes; Mr. Cooper & PennyMac Financial
The last Treasury Secretary that tried to extend the maturities of US government debt was Jack Lew (2013-2017). Yellen missed an opportunity
644 views
R. Christopher Whalen
- Jul 8
- 7 min
Mortgage Lenders Face Return of a Purchase Market
The “winners” in the mortgage sector will be those larger players with equally large servicing books that can access bank funding
898 views
R. Christopher Whalen
- Apr 30
- 6 min
Update: Mr. Cooper & PennyMac Financial
Both PFSI and COOP are navigating the current market well, but we have questions about where the former is headed.
1,231 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.
2,364 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
523 views
R. Christopher Whalen
- Oct 28, 2022
- 7 min
Update: Credit Suisse (CS) & PennyMac Financial (PFSI)
Like COOP, volumes are down dramatically from 2021 but MSR values and cash flows from servicing are rising
916 views
R. Christopher Whalen
- Oct 26, 2022
- 4 min
Update: Mr. Cooper (COOP)
Despite the outlook for the industry, COOP continues to be one of the better performing names in our mortgage surveillance group.
294 views
R. Christopher Whalen
- Aug 17, 2022
- 6 min
No End to Conservatorship for Fannie Mae and Freddie Mac
Fannie Mae and Freddie Mac will likely sit in conservatorship indefinitely unless and until Congress acts first.
1,015 views
R. Christopher Whalen
- May 25, 2022
- 9 min
FOMC vs TGA; PennyMac Financial & United Wholesale Mortgage
Net, net, the dynamics in the market are actually forcing interest rates down
632 views
R. Christopher Whalen
- Apr 22, 2022
- 6 min
Update: Western Alliance Bancorp (WAL) and Silvergate Corp (SI)
There are virtually no conventional lenders in the US today that are profitable when the sell a loan into the secondary market.
353 views
R. Christopher Whalen
- Apr 4, 2022
- 2 min
The Residential Mortgage Finance Top Twenty Seven
Who is going to acquire and restructure Blend Labs (BLND) before this newbie-fintech-something runs out of cash?
313 views
R. Christopher Whalen
- Feb 7, 2022
- 4 min
Update: PennyMac Financial and loanDepot
February 7, 2022 | Last week saw the start of the reporting season for publicly listed mortgage companies, with loanDepot (LDI) and...
314 views
R. Christopher Whalen
- Nov 8, 2021
- 6 min
Update: Rocket Companies, PennyMac Financial Services & Home Point
When issuers like RKT and PFSI are paying up for servicing assets, you know that the secondary loan market is getting tougher by the day.
360 views
R. Christopher Whalen
- Nov 3, 2021
- 7 min
Update: New Residential Investment, Fortress & Softbank
The good news is that NRZ is growing and making strides in terms of asset creation and, especially, asset retention.
848 views
R. Christopher Whalen
- Oct 25, 2021
- 6 min
Three Questions for Chairman Powell
Look for the FOMC to act early and go big in terms of forward repurchase agreements at the first sign of liquidity stress.
666 views
R. Christopher Whalen
- Feb 11, 2021
- 8 min
Update: Ocwen & New Residential
In this issue of The Institutional Risk Analyst, we compare two major players in the residential mortgage servicing space, New...
343 views
R. Christopher Whalen
- Dec 28, 2020
- 8 min
Outlook 2021: Financials & Credit Markets
New issue volumes in all of the major securities asset classes other than Treasury debt are trending lower as 2021 begins....
767 views
R. Christopher Whalen
- Nov 27, 2020
- 4 min
The Myth of GSE Release
The prospective ejection of the GSEs, Fannie Mae and Freddie Mac, from government control seems finally to be dead for the next four years.
1,345 views
R. Christopher Whalen
- Nov 23, 2020
- 7 min
Nonbank Update: PennyMac Financial Services
There is no actual disclosure from PSFI as to exactly how much of the firm’s default advances are being financed with bondholder funds
540 views
Christopher Whalen
bottom of page