Mortgage Contracting Services, LLC (MCS), a nationwide provider of services to the mortgage industry, has reached an agreement to acquire the property preservation division from Carrington Home Solutions, LP (CHS). The transaction is expected to close before the end of 2017.
MCS will assume responsibility to inspect and maintain CHS’ existing portfolio. Under the acquisition, CHS’ property preservation operations will integrate into MCS’ existing field service operations.
Caroline Reaves, CEO of MCS said in a statement:
The acquisition of CHS’ field services unit enables MCS to expand our industry footprint, and increase our national presence and economies of scale. Through our work with CHS in the past, we applaud the business they built. This addition is a perfect alignment with our MCS mission: being the leading outsourced services provider for banks, lenders, and mortgage servicers across the United States.
Over the past several years, MCS has continued to expand its portfolio of services and capabilities with the acquisitions of multiple national AMC valuation companies, title and settlement providers in addition to growing its field services division, which has operated for over 30 years.
“This transaction further demonstrates MCS’ commitment to our clients and communities in which we operate,” said Ms. Reaves. “We will continue to focus on quality, compliance, and long-term relationships built on trust and integrity.”
For more than 30 years, MCS has protected, preserved, and served communities across the nation. Some of the largest and most respected banks, lenders and mortgage servicers in the industry trust MCS to perform property inspections, property preservation, REO property maintenance, property registrations, valuations, settlement services, title and other mortgage-related services in all 50 states. MCS has a history of providing these services in a highly regulated environment, the proven ability to handle large volumes of properties, and a record of recruiting and monitoring a substantial vendor network. For more information, click here.