email signup             Receive MNC in RSS news reader

————

(really interesting) How Single Point Of Contact Will Transform The Mortgage Industry - BY CHRIS CARLISLE - ... Shifting from a pooled resource platform to a SPOC model could cost servicers billions of dollars in additional staff and technology. .. .Staffing up. The loss of efficiencies enabled by predictive dialers and ACDs operating in a pooled model could force servicers to increase their headcount by fivefold or more. Traditional staffing models for call centers average 300 to 500 accounts per agent. SPOC requires servicers to move to a “named account” model from this traditional pooled model. This reduces the number of accounts that agents can handle to about 75 to 100 customers. To make up for that gap, servicers will have to dramatically increase headcount. ... - MortgageOrb
------------
(chart too) Median US New Home Price Has Biggest 3 Month Drop Ever - Submitted by Tyler Durden - Zero Hedge
------------
(bigger down payments?) Global regulators map tougher home loan standards - By Huw Jones - (Reuters) - Lenders should verify a borrower's ability to pay back a home loan and impose prudent limits on money lent out, global regulators said in draft guidelines on Wednesday. The Financial Stability Board (FSB), a global regulatory task force for the world's 20 leading economies (G20), said the financial crisis revealed how weak lending standards in one country can spread across national borders. - Reuters UK Edition

------------
(summarizes) Republican blueprints mortgage market without Fannie, Freddie - by JON PRIOR - Rep. Scott Garrett (R-N.J.) ... "My proposal to reform the secondary mortgage market will facilitate continued standardization and uniformity, ensure rule of law and legal certainty, and provide investors with the standardization and transparency necessary to ensure that a deep and liquid market develops in the absence of Fannie and Freddie," Garrett said. ... - Housingwire

------------
Nordic Banks ‘Punished’ as EBA Tests Penalize Mortgage Debt - (Bloomberg Businessweek) -- Nordic banks are being penalized by European rules that assign tougher risk weights to mortgage assets than local regulators, forcing lenders to scrap payouts for shareholders to fulfill capital rules.

------------
Loan Limit Battle Looms For House Republicans - By Alan Zibel - A fight is brewing up among House Republicans about whether to restore higher limits on the size of government-backed home loans. - WSJ Blogs
------------
Fannie, Freddie Bailout Costs Revised Lower - BY NICK TIMIRAOS - A federal regulator on Thursday revised down ... as the mortgage-finance giants begin to repay more money to taxpayers. The Federal Housing Finance Agency cut its projection for the cost of rescuing the companies to $124 billion through 2014, an improvement from last year's estimate of $154 billion. Fannie and Freddie so far have cost taxpayers $141 billion, but that tab will begin to shrink as narrower losses at the firms - Wall Street Journal

————

For Rob Chrisman’s latest daily post, click here.

To subscribe to Joe Garrett’s news letter, send an email to  jgarrett at garrettwatts  dot  com