Most people don’t think about what happens to a property when a mortgage becomes delinquent or enters the foreclosure process. Yet behind the scenes, teams across the mortgage servicing industry work every day to ensure those homes remain secure, maintained and protected, helping preserve property values and prevent neighborhood deterioration. 

Mortgage Contracting Services (MCS) plays an important role in that effort. The company supports mortgage servicers nationwide through property inspections, preservation and maintenance services that help ensure work is completed accurately, on time and in accordance with strict investor and regulatory requirements. 

Earlier this year, Stewart announced the acquisition of MCS, bringing the organization into the Stewart family of companies and strengthening Stewart Lender Services’ capabilities in the default servicing space. Chad Mosley, CEO of Mortgage Contracting Services, brings decades of experience in mortgage servicing and vendor management, leading MCS with a focus on operational reliability, strong partnerships and protecting property assets for clients and communities alike. 

We recently caught up with Chad to learn about his journey in mortgage servicing, the role MCS plays in supporting servicers and communities, and what excites him most about joining Stewart. 

Q: What originally drew you to the servicing industry, and what’s kept you passionate about it over the years? 

A: I honestly did not know a lot about the mortgage servicing industry before joining it, having worked for several years in the origination industry. I was given the opportunity to join Countrywide Home Loans in the REO vendor management department and thought it was interesting, so I made the decision to join.  

There are a couple of things that have kept me passionate about mortgage servicing over the years. The first is the people in the industry. Mortgage servicing is a close-knit and relatively small group of people, and those relationships that I have formed over the years with co-workers, colleagues, vendors and even competitors have driven me to be a better person and leader.  

The second area is the impact that all our organizations in the servicing industry have on people, positively impacting consumers and communities all over the country. Specifically, at MCS, knowing that the work we do really makes an impact in stabilizing communities, keeping vacant homes protected and helping protect property values really makes me proud about the work that MCS does. 

Q: What’s one lesson you learned early in your career that still guides you today? 

A: One lesson I learned early was to keep my word and do what I say I was going to do. The mortgage servicing industry is close-knit, and it takes a long time to build trust and a reputation, and only one wrong decision to ruin it. 

Q: What’s one word your team would use to describe you? 

A: I think the one word you would hear is “supportive.” There are several things that would drive that. I tend to be direct and decisive so that everyone on our team knows where I stand, but I also try to be principled in my decisions and leadership, so I think my team knows what to expect from me.  

Being supportive means building a great team, giving them the tools and resources to be successful, and then knowing when to help and when to stay out of the way. 

Q: For those outside the industry, how would you describe what a servicing organization does and why it matters? 

A: For those that are not familiar with the property preservation industry, we serve a very important role, not only in mortgage servicing but in the broader US housing market. We serve as the eyes and the ears for mortgage servicers for the properties that are delinquent or somewhere in the foreclosure process.  

We are initially determining if properties are occupied or vacant when they are in various stages of delinquency. This can only be determined by sending a physical inspector to the property, and we complete hundreds of thousands of these inspections monthly.  

After that, once a property is deemed to be vacant, we are responsible for the securing, preservation and maintenance of that property until it completes the foreclosure process or exits the servicers portfolio. We are ensuring that properties are secure, safe, well-maintained and free of deterioration or damage. This is vital in helping stabilize communities, minimizing neighborhood blight and helping keep property values stable. 

Q: In a relationship-driven business like servicing, what makes a strong, long-term partnership? 

A: Honesty and open communication are what make a strong, long-term partnership in my opinion.  

Part of the DNA at Stewart is “We are courageous and honest”, which means that we are doing the right thing and acting with integrity. Mortgage servicing is a challenging, highly regulated industry with intricate guidelines related to performance, quality and timeliness.  

As a service partner to most of the industry’s best and largest mortgage servicers, it is imperative that we are a trusted partner for our clients, and they can count on us.  Having honest, open communication with our clients allows us to keep those relationships strong. 

Q: How do you keep your team motivated and aligned during times of industry change? 

A: Flexibility is a valuable virtue and is something that I stress to our team. As challenging as the property preservation industry is, it pales in comparison to the stress and challenges in leading a mortgage servicing operation. There are continual updates and changes to mortgage servicing whether driven by investor changes, regulatory oversight, and/or political shifts. MCS has been able to help our clients navigate these changes by stressing flexibility and making sure we act swiftly when changes are needed. 

Q: What excites you most about becoming part of the Stewart family? 

A: In the months leading up to the acquisition and in our short few months being part of the Stewart family, the people and the culture have me the most excited.  

The DNA of Stewart was an exact match to the core values that we have stressed at MCS, so culture-wise it was a perfect fit. In addition, I am excited about Stewart’s focus on their customers with the dedication to be the most respected provider in the real estate industry.  

Lastly, the full suite of services at Stewart Lender Services gets me excited, being able to share with our clients and being a one-stop shop for all their needs related to default servicing. 

Q: How does this acquisition strengthen your ability to serve clients? 

A: Stewart’s 130-year history and stellar reputation have already strengthened client relationships and our ability to serve them.  

The news of the Stewart acquisition was very well-received by our clients. We are already implementing new SOWs by being able to offer multiple products across the mortgage services lifecycle, and we believe that MCS combined with the other Stewart Lender Services businesses will create value, improve performance and reduce cost for our clients. 

Q: Do you have a ritual to prepare before a big meeting? 

A: My two rituals are knowing the audience and having solid data. I’ve always strived to be a situational leader, so understanding my audience and what matters most to them helps ensure a successful meeting. And I believe that if you can’t measure it, you can’t manage it, so making sure our data and reporting is 100% spot on is critical. 

Q: What’s your favorite way to celebrate a big team win? 

A: I believe in giving credit where credit is due. My favorite part of celebrating a big team win is recognizing those team members who made it happen and celebrating their contributions to the team. I also believe it is important to intentionally stop and smell the roses when those big wins occur. We are all so busy and moving in 100 directions every day, so it is easy to let business get in the way.  

I would encourage everyone on my team to be intentional about celebrating our big wins, recognizing our team members, and making sure that Mortgage Contracting Services continues to be a great place to work.

We thank Chad for taking the time to share his journey.  

Under his leadership, Mortgage Contracting Services continues to play an important role in supporting mortgage servicers as they navigate the operational and compliance demands of the default servicing landscape. By helping ensure property inspections, preservation and maintenance work are completed accurately and on time, MCS helps clients protect assets, preserve property values and reduce risk for the investors and communities they serve. 

Now part of the Stewart family of companies, MCS further strengthens the Stewart Lender Services platform, expanding the solutions available to mortgage servicers across the default servicing lifecycle. Together, the organizations are focused on delivering reliable execution, operational transparency and trusted partnerships that help servicers meet performance expectations in an increasingly complex environment.