The deal expands MCS’ offerings to banks, lenders, and mortgage servicers
.jpg)
Mortgage Contracting Services (MCS) has entered an agreement to acquire the property-preservation division from Carrington Home Solutions (CHS).
The companies expect to complete the transaction before the end of the year.
Under the agreement, MCS will assume responsibility inspect and maintain CHS’ existing portfolio, while the property preservation division will integrate into MCS’s existing field service operations.
"The acquisition of CHS' field services unit enables MCS to expand our industry footprint, and increase our national presence and economies of scale," MCS CEO Caroline Reaves said. "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."
The acquisition agreement follows MCS’ acquisitions of multiple national AMC valuation companies and title and settlement providers over the past several years. In addition to its field services division, the company has continued to expand its portfolio of services and capabilities.
"This transaction further demonstrates MCS' commitment to our clients and communities in which we operate," Reaves said. "We will continue to focus on quality, compliance and long-term relationships built on trust and integrity."
Related stories:
Mortgage servicers improving REO portfolios
CFPB sues debt-settlement services provider
The companies expect to complete the transaction before the end of the year.
Under the agreement, MCS will assume responsibility inspect and maintain CHS’ existing portfolio, while the property preservation division will integrate into MCS’s existing field service operations.
"The acquisition of CHS' field services unit enables MCS to expand our industry footprint, and increase our national presence and economies of scale," MCS CEO Caroline Reaves said. "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."
The acquisition agreement follows MCS’ acquisitions of multiple national AMC valuation companies and title and settlement providers over the past several years. In addition to its field services division, the company has continued to expand its portfolio of services and capabilities.
"This transaction further demonstrates MCS' commitment to our clients and communities in which we operate," Reaves said. "We will continue to focus on quality, compliance and long-term relationships built on trust and integrity."
Related stories:
Mortgage servicers improving REO portfolios
CFPB sues debt-settlement services provider
