The Institutional Risk Analyst

There are literally dozens of banks in the US made insolvent by the policy moves of the FOMC over the past year.

Despite the outlook for the industry, COOP continues to be one of the better performing names in our mortgage surveillance group.

Will the market risk created by quantitative tightening (QT) tip over a large bank or nonbank financial firm?

With the Fed doubling down on rate increases, the pressure on all manner of nonbank finance companies and fintech platforms is growing.

A number of readers have asked us to talk about the winners and losers among large banks in the current interest rate environment.

The nightmare scenario in the government loan market is that FHA loan delinquency rises to the point where issuers become insolvent

Investors who were buying large caps at 2x book value a year ago are now running away from bank stocks just as fundamentals improve...

The assumption of price volatility on the part of consumers and business managers is at the heart of inflation expectations

If the merger of Black Knight and Intercontinental Exchange goes through, the expanded ICE monopoly will simply give POS tools away for free

Interest rates are starting to be very positive, and bank deposit rates are barely moving, so pretense of fintech as bank killer is over

Total noncore funding at GS was over $700 billion at the end of Q1 2022 vs $321 billion for MS.

Since Block has not yet changed its ticker symbol, perhaps Mr. Dorsey will eventually change the company's name back to Square...

The real message to the FOMC is this: hike another 75bp in July and then let the Fed funds target sit for a few meetings...

NRZ must pay $400 million to Fortress to end the relationship with the external manager, a final act of squeezing NRZ shareholders

Even as the FOMC raises interest rates, we caution our readers to be prepared for disappointment from banks near term

Given the demand for safe assets, the true risk free rate today is probably less than zero. Ponder that Chairman Powell

We see an at least equal chance that margins will get squeezed for agency and MSR investors before they expand via higher interest rates

As a result of the adoption of "artificial intelligence," the 21st Century investor is mostly a victim in waiting.

If investors and partner banks don’t want to buy UPST loans at current market rates, then the game is over in an originate to sell model

Market risk realized today becomes credit risk tomorrow...