Top 5 cities where safety is not a question

Top 5 cities where safety is not a question

Number one shouldn't be a shocker

Where's Watt?

FHFA scorecard should be marked tardy

Rentership society? Insider trading on Russian sanctions?

What We're Reading: The Good Friday edition
W S

Articles by Christopher Whalen

Christopher Whalen: A rebuttal to consumer advocates generally

April 1, 2014
Consumer advocates, let us remember, make a living by exaggerating the misery faced by millions of Americans who have defaulted on their mortgages and face the loss of their homes.
Read More

Christopher Whalen: So what is today's nonbank business model?

Regulatory pressures amount to legalized extortion
March 28, 2014
So far 2014 is turning into a mixed bag for nonbank financial firms focused on the mortgage sector. And it's not likely to change given the current regulatory attitude that amounts to nothing short of the legalized extortion of the mortgage business.
Read More

Christopher Whalen: The single biggest question facing the mortgage space

There are no easy answers
March 17, 2014
So if you are in an auction with a bunch of stupid money who just want to put assets to work and thereby earn a management fee, do you bid aggressively – above the true value of the assets – or do you stand back and let the clown win the auction?
Read More

The missing question in Yellen’s Congress discussion

What is next for national economic policy?
February 14, 2014
Federal Reserve Chair Janet Yellen achieved the primary goal of any new Fed chief and avoided any obvious land mines. But what was lacking in the dialogue, both from Yellen and the media, was a serious discussion of what’s next for national economic policy.
Read More
From HW Magazine

True sale

The bank retreat from mortgage lending is just beginning
January 31, 2014
Recent data from the Mortgage Bankers Association shows the extent of the collapse of new applications for mortgages. The numbers are down 60% annually and reached a 13-year low. However, higher interest rates are not the chief reason for poor mortgage market performance by a long shot.
Read More

Is the housing sector a drag on the U.S. economy?

January 31, 2014
The headlines in most news stories and economic commentaries indicate that the housing market is continuing to improve and with it the U.S. economy. But if you dig into the numbers a bit, the reality in the housing market is a good bit more subtle than the headlines suggest.
Read More
From HW Magazine

Don't call it a comeback -- because it's not

A real restart for private-label RMBS issuance faces a daunting set of obstacles
January 1, 2014
A financial industry publication recently reported, “Carrington Mortgage, Citadel Servicing and New Penn Financial are planning securitizations of newly originated subprime mortgages.” The publication went on to say in breathless tones that “[t]he offerings, on the slate for 2014, would confirm recent predictions that deals would soon start flowing in the asset class…”
Read More
From HW Magazine

Lending in the post Dodd-Frank world

November 1, 2013
As we approach January 2014, the entire mortgage lending industry is braced for impact in terms of compliance and operational issues related to the Dodd-Frank reform law. The “qualified mortgage” or QM and “qualified residential mortgage” or QRM designations related to mortgage lending now define the outer limit of risk taking for many bank lenders.
Read More
From HW Magazine

A Huxleyan dystopia

The brave new world of Basel III and Dodd-Frank
September 4, 2013
The implementation of new rules and regulations affecting the housing sector has been underway for several years, driven by Basel III, the Dodd-Frank Act and revisions to existing law. How this tangle of conflicting limitations and incentives is affecting the housing sector is something laymen only partially understand. Although the brave new supervisory regime pretends to protect consumers...
Read More
From HW Magazine

Investors interested in asset-backed securities

Concerns over the QM rule dominates ASF discussions
February 28, 2013
The 2013 Winter Conference for the American Securitization Forum was remarkable for a number of reasons. For a start, the fact that more than 5,200 people...
Read More