Specialist
Former Senior Executive at Mortgage Contracting Services LLC
Agenda
- Industry trends and changes to operating environment
- Mortgage Contracting Services' business overview and competitive standing
- Existing and emerging challenges, and ability to pivot
- 2019 outlook
Questions
1.
Could you begin with your updated perspective on the loan servicing and property maintenance industry, identifying any key trends or themes you are observing?
2.
How would you conceptualise the size that the addressable market has decreased over recent years?
3.
Could you identify any structural shifts you think are driving a smaller market for field services?
4.
What are your thoughts on the overall health of MCS, given these industry headwinds?
5.
Have you observed any significant costs or wage inflation that would affect field servicers, and if so, to what extent are they affected?
6.
When mortgage servicers can’t participate in the upside of insourced field services and can only reduce their downside, does this imply that many field servicers pass the chargeback costs to the mortgage servicers, or are there other downside risks?
7.
Could you describe the competitive dynamics, including recent potential threats from insourcing activities and the model of bypassing the national servicers to go with the regional?
8.
Would you say there is a notable difference in technological capabilities between regional and national field servicers?
9.
How would you say regional players have been coping with the macro environment relative to the national players?
10.
Could you break down market share dynamics among MCS, Safeguard, ServiceLink and the other national players?
11.
Outside of insourcing, have you noted much consolidation in the industry?
12.
How easily do you think MCS could move into a different business line using its network, for example moving into residential landscaping like TruGreen?
13.
Could you explain to what extent MCS’s economics are tied to the length of time of a default rate?
14.
Could you explain the default and homeowner-vacating process?
15.
Could you estimate the minimum fixed costs for MCS?
16.
When does MCS go in to do the property presentation work, if people vacate just before the foreclosure?
17.
What are your expectations for MCS over the next year and a half? Do you think it is positioned well against a potential downturn compared to its competitors?
