In a move that will broaden its offerings to include appraisals, broker price opinions (BPOs) and other valuations-related products, Mortgage Contracting Services (MCS), a provider of property preservation, inspections and real estate owned property maintenance services, is acquiring the collateral solutions and field services units of CoreLogic.
‘This acquisition will expand our presence across multiple service lines within default servicing and move us beyond the default segment through being able to offer our clients the opportunity to call on MCS for valuations, appraisals and BPOs, as well as field services,’ says Caroline Reaves, CEO of MCS, in a statement. ‘This will allow us to service our clients with an expanded product range and ensure their compliance with federal, state and local regulations at every step.’
MCS reports that it is keeping the Collateral Solutions unit intact. The division will continue to be based in Sandy, Utah, and will retain its current employees and structure.
The Field Services unit, which is based in Westlake, Texas, will be combined with MCS' operations in Plano, Texas.
Other details of the acquisition, including the purchase price, have not been divulged.