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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
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Oct 28, 20227 min read


Joe Biden Must Fire FHFA Director Calabria
If you sent somebody to deliberately sabotage the US housing market, you could not find a better perpetrator than Director Calabria.
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Dec 21, 20206 min read


Post-Election Liquidity Risk: FSOC and the CSBS
An equally informal group of researchers within the Federal Reserve System is also in the vanguard of those warning about nonbank risk...
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Nov 5, 20207 min read
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