Christopher Whalen

A big part of the trouble with the RBC rule is that Ginnie Mae is essentially using its limited legal authority to qualify government issuers to impose sweeping changes on how IMBs operate writes the Chairman of Whalen Global Advisors.

Depending on who wins, it will be four years of progressive policy chaos or four years of indifference towards the housing market.

Subsidies for first-time homebuyers, such as the one proposed by Democratic Presidential nominee Kamala Harris, will only stoke demand and exacerbate the crisis, writes the chairman of Whalen Global Advisors.

In a brave new world, Fannie and Freddie would be functionally like Pennymac and Mr. Cooper, but would have a credit line from the Treasury and FHFA regulation, writes the Chairman of Whalen Global Advisors writes.

With the landmark Supreme Court decision overturning Chevron USA v. National Resources Defense Council, much of the rule making by the Federal Reserve Board, the SEC, HUD and other agencies is now open to attack, writes the Chairman of Whalen Global Advisors.

Through the proposal, the risk function at Ginnie Mae is telling issuers to change their business model or exit the industry, writes the Chairman of Whalen Global Advisors.

Despite a recent warning about an uptick in prepays, FHA seems to be leaning in the direction of adopting changes that will increase them, writes the chairman of Whalen Global Advisors.

The Federal Open Market Committee thinks that confusing everyone completely is good for confidence, that intangible but entirely necessary ingredient for financial stability, writes the Chairman of Whalen Global Advisors.

By imposing this designation, the Federal Housing Finance Agency and the Biden Administration will only drive more industry consolidation and increase systemic risk writes the Chairman of Whalen Global Advisors writes.

Until Congress addresses the federal deficit, the tendency will be for higher long-term interest rates regardless of what the Fed does with the short end of the yield curve, writes the Chairman of Whalen Global Advisors.

To honor Stevens, who started in the secondary market where dry mortgage notes are sold to investors, let's delve into why the B3E proposal is badly constructed.

The chairman of Whalen Global Advisors outlines the policy agenda of home lenders' dreams for the year ahead.

An article's handling of COVID loan forbearance for veterans is an unfortunate example of how American journalism has become compromised by progressive politics, often by ignoring or twisting the facts, writes the chairman of Whalen Global Advisors.

Amid the release of Q3 bank earnings, the Chairman of Whalen Global Advisors ponders whether efforts from the government-related entities help or hurt the independent mortgage bankers that are taking up a greater and greater share of 1-4 family lending and servicing.

The threat of instability from that group is immaterial in comparison to the existential risk created by the U.S. Treasury, argues the chairman of Whalen Global Advisors.

Demand-driven inflation will continue to be a problem in the U.S. economy until we somehow work through trillions of excess liquidity provided by the Federal Open Market Committee, writes the Chairman of Whalen Global Advisors.

By "going big" in 2020, the Federal Reserve has managed to disrupt the term structure of interest rates to an alarming degree, writes the Chairman of Whalen Global Advisors.

More than any real world problem posed by IMBs, it is the government in all of its manifestations that poses a significant risk to the world of mortgage finance and the housing sector more generally, writes the Chairman of Whalen Global Advisors.

The withdrawn loan level pricing adjustment matrix changes were mostly about election-year politics and the Federal Housing Finance Agency's plan for credit scoring changes is even more impractical, the Chairman of Whalen Global Advisors writes.

Taking a second look at those who were denied credit is very costly for lenders under the FHA's antiquated rules, writes the Chairman of Whalen Global Advisors.