The Institutional Risk Analyst

There a brisk debate ongoing in the fixed income markets over how much the Federal Open Market Committee will raise interest rates and when

The Powell FOMC has lost all credibility when it comes to financial markets or managing inflation and independence from the US Treasury

In the short-run rising interest rates and spreads will help bank earnings. But where is the next credit hot spot?

We think the chart below from FRED is worth any amount of words on the impact of QE on equity market valuations.

As we move into Q4 2021 earnings, keep your eyes peeled for news of restructuring of urban commercial commercial and multifamily properties

Is SQ really, REALLY worth 25x book value? Our respectful answer to that question is no.

We ask whether bank fundamentals are starting to catch up to the very full equity market valuations , up 40% since the end of 2020

any of the problems that the Fed now seeks to fix, starting with the unnecessary elimination of LIBOR, are a function of earlier policies...

Somehow the folks at UWMC did not take notice of the fact that secondary stock offerings for all issuers have basically disappeared

And in the meantime, we view the end of QE as a net negative for global stocks as well as crypto. Everything is correlated in a crowd.

To paraphrase our friend and fellow mortgage maven Rob Chrisman, ponder a 2022 lending market that’s 75% purchases and just 4.79 million uni

Over the next several years, as the economic cost of COVID becomes full visible, New York City may face its second financial crisis

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.

The good news is that NRZ is growing and making strides in terms of asset creation and, especially, asset retention.

Risk to investors in the market for residential mortgages is rising and from multiple sources

Look for the FOMC to act early and go big in terms of forward repurchase agreements at the first sign of liquidity stress.

WAL is one the best performing small banks in the US based upon equity market valuations, profits and growth rates

We speak with a revolutionary in the world of lending, Tom Showalter, Founder and CEO of Candor Technology.

Fact is, we are all staring at computers or handsets, all of which are connected to the internet.

Many of the better managed financials that we track have become sellers of assets rather than buyers in the past several months.