Christopher Whalen, an outspoken analyst of the banking and mortgage industries, has joined the advisory board of Weiss Residential Research, a developer of home price indexes.
The 30-year investment banking veteran will advise Weiss Residential on business strategy issues and housing industry trends. His experience and market knowledge will assist ongoing efforts to commercialize the WRR House Price Indices, Market Map, and HomeVest Score products "and apply these tools to investment strategies such as rent-to-own," said Allan Weiss, the firm's founder and CEO, in a press release. (He also cofounded Case Shiller Weiss.)
WRR, based in Natick, Mass., uses big data techniques to develop its repeat sales home price indexes. The firm says it has created nearly 50 million home price indexes — one for each house analyzed.
The indexes offer lenders, investors, policy makers and real estate agents "enormous visibility" about current and future home price valuation changes, Whalen said in the press release. Other indexes on the market are "really inadequate to describe the detail and diversity that is present in many cities and neighborhoods."
From December 2012 through February of this year Whalen has work as an executive vice president and managing director for Carrington Holding Co., the fast-growing investment manager and mortgage servicer and originator.
In addition to his provocative blog commentaries for various publications, including American Banker's BankThink and National Mortgage News, Whalen wrote "Inflated: How Money and Debt Built the American Dream" in 2010 and co-authored with Frederick Feldkamp "Financial Stability: Fraud, Confidence & the Wealth of Nations" scheduled to be published by John Wiley & Sons in the second half of 2014.