Mungo Dunnett Associates: Management and Marketing Consultancy

2010 Masterclasses

After running 12 masterclasses in 21 months covering the key issues in possibly the most turbulent period in the history of mortgage lending, and with increasing time being spent recently overseas, we are having a year off! The intention is to return in January 2011, if our member organisations remain as keen to support the sessions.

2009 Masterclasses

The 2009 topics

Whilst this continues to be the most strategically challenging period that any of us have experienced, it also continues to provide a rich source of material for the Masterclasses. The topics selected for the next six sessions (March-December 2009) are those chosen by the subscribing members themselves. They are a mixture of the practical (Pricing ; Cross-selling ; Retention) and the more broadly strategic (Operating in a Zero Rate environment ; Creative Product Solutions). At a time when the industry is considering its survival and its future, the first session is deliberately chosen as having the widest range of all: what would a mortgage market look like if we were able to start with a blank sheet of paper?

As the year develops, it may be that other urgent topics emerge, and that the latter Masterclasses need to be altered – as happened in 2008, when topics were altered to accommodate detailed looks at both TCF and Arrears Management. Subscribing members will, as always, have the deciding say. Additional topics that are currently ‘bubbling under’ are these:

· Preparing for coming out of recession

· Managing the media: rebuilding lenders’ reputations with customers

· Distribution strategies: the developing themes, lenders’ best approaches

Lender debate

Whilst delegates want to hear each other’s views, for reasons of commercial confidentiality it is often inappropriate for lenders to express comment during the Masterclass. We therefore seek to create an environment in which discussion and debate can occur to the degree suitable to the participating members. However, the key value in the Masterclasses remains the degree of detailed analysis and recommendations in the presentations themselves.

Every two months

The Masterclasses occur every two months, held at the IoD Hub at Liverpool Street, London. The dress code is formal or business casual, as preferred. The Masterclasses generally run from 10.30am until 4.00pm, depending on the level of discussion. Full agenda details are sent out electronically to all delegates 5-6 weeks prior to each event.

Two delegates per session

Lenders may send two delegates to each session. It has been suggested by many lenders that one of these two delegates spaces is consistently taken by the same individual, to allow familiarity to develop amongst the subscribing members; and that the second delegate space is rotated by each lender to ensure that they are sending the person most suited to that day’s topic.

Insider Briefing and our own rules

Each Masterclass feature a regular slot called ‘Insider Briefing’. This considers the key events in and around the UK mortgage market in the preceding two months, and their implications for lenders, and often includes case studies and strategic critique of lenders who have not joined the Forum. It is our policy to talk frankly about the mortgage sector and about specific mortgage lenders, but never to embarrass subscribing members of the Forum.

2009 Agenda

Wednesday 11 March - Agenda

MORTGAGE LENDING AS A BLANK SHEET OF PAPER: RECONSIDERING THE WHOLE HOME LOAN MODEL

Creating the ability for customers to self-service
Creating simplicity in pricing structures, including pricing for risk
Allowing customers to shop around more easily
Building property into the decisioning process
Simplifying the verification of identity, income and property values
Developing industry standards to support funding
Creating post-completion standards for access and further borrowing
Turning mortgage payments into a retainer payment

Wednesday 6 May - Agenda

OPERATING IN A ZERO BASE RATE ENVIRONMENT

Hypotheses for the future landscape (both macro and micro)
Likely competitive behaviour and significant market participants
Negative equity considerations
Funding implications and options
Product considerations and opportunities
Distribution considerations and opportunities
Governmental/regulatory considerations: planning for and adapting to the likely developments

Thursday 2 July - Agenda

CREATIVE PRODUCT SOLUTIONS

The product gaps and opportunities appearing
Driving profitability by creating a more viable mortgage market
New niches that are evolving
Being more inventive on credit repair
Competing for oversubscribed markets
Choosing the right time to re-enter certain markets
The market above and below 75% - have these two camps changed permanently?

Wednesday 2 September - Agenda

THE FUTURE FOR RETENTION

Developing trends in the inverted world of 2009 retention: investigation of current retention behaviours and practices as they have developed since the July 2008 masterclass
The changing dynamics of customer attrition models
Exploring emerging opportunities: the impact of reduced monthly payments
The continuing implication of distribution strategies and channel behaviours on retention and medium-term profit

Thursday 22 October - Agenda

CROSS-SELLING

Cross-selling and intermediaries: strategies to make it work
What to cross-sell: seeking attractive and relevant products
How to cross-sell: management information, campaign strategies and contact strategies
Sales practices and training issues
Cross-selling mortgages to existing non-mortgage customers, and other products to mortgage customers
The MPPI problem, and best approaches

Thursday 10 December - Agenda

2007-2009: THE LESSONS FROM THE UK MORTGAGE CRISIS

The distinctive British contribution to the crisis
Power shifts and value protection: lender-broker relationships
The effect on product diversity
The future and chasing new markets
The future and building sustainable markets
The future and new rules of competition

2008 Agenda

Wednesday 19 March - Agenda

INTERMEDIARY MANAGEMENT: OPTIMISING THE 3rd PARTY CHANNEL

What is the most effective way of selecting and managing the broker channel?
What is the role of management information in identifying and evaluating broker targets?
What is the most effective way of managing a Business Development salesforce?
What are the implications of CCA regulation and its impact on non-MCOB business?
What are the most effective strategies for managing retention of introduced business?
What is the most effective way of using sourcing systems for competitive advantage?

Wednesday 7 May - Agenda

MANAGING NET YIELD: IMPLICATIONS FOR PORTFOLIO DIVERSIFICATION

How can lenders best manage and control the diversity within their portfolio?
How can lenders maintain attractive rates across a spread of market types while protecting their credit rating?
Is it realistic to keep on diversifying – or will lenders need to focus on a chosen specialism?
With funding now critical, how can lenders continue to grow at the right price?
How long can lenders afford to offer loss leading products in prime residential?

Wednesday 2 July - Agenda

RETENTION: MOVING TO THE SECOND PHASE

How can lenders balance market share and profitability for new and existing customers?
What is best practice in analytical, pricing, staff training and communication practices?
What is the best way to handle the rise of ‘in deal’ redemptions?
What are the implications of intermediaries in mortgage retention?
What is the ‘second phase’ of retention, moving from reactive maturity management to a proactive value-based approach?

Wednesday 10 September - Agenda

ENTERING NEW MARKETS: EVALUATING OPPORTUNITIES

Where are the main prospects for growth in the UK market?
Are there attractive options for UK lenders in other countries?
What are the key considerations, and what tends to go wrong with ventures into new markets?
Due diligence and pragmatism: what is the most robust process of diversifying and managing risk?
Partnering: when and how should partners be utilised, and what is the best way to retain control over performance?
What are the implications for lenders’ branding and distribution channels?

Wednesday 5 November - Agenda

TCF AND MORTGAGE LENDING: PINNING DOWN THE BLANCMANGE

Creating clarity for December 31: key implementation considerations
What are emerging from FSA engagements as the expected practices?
Finding the room for manoeuvre: what seems acceptable, and what seems not to be?
What are the implications of TCF for product design: what does TCF prevent, and where does it offer opportunity?
The further opportunities created by TCF: customer contact practices, management information and relationship building

Wednesday 14 January 09 - Agenda

ARREARS MANAGEMENT

Automation and loss of experienced personnel: the erosion of key skills since 1992
The core elements in effective Arrears and Collections
Depth analysis: what to look for, and what to do with the findings
Scenario planning and strategic implications
Building robust processes: streamlining and operational adjustment
Telephony engagement: best practice in behavioural analytics and staff training
Regulatory and reputational implications

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