LEWISVILLE, Texas—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).
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.
“The acquisition of CHS’ field services unit enables MCS to expand our industry footprint, and increase our national presence and economies of scale,” said Caroline Reaves, Chief Executive Officer of MCS. “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.”
The transaction is expected to close before the end of 2017.