Mortgage Contracting Services (MCS), offering title, valuation, property preservation, REO maintenance, inspection and other services, is buying the property preservation division of Carrington Home Solutions (CHS) for an undisclosed sum.
Upon completion of the deal, CHS’ property preservation operations will be integrated with MCS’ existing field service operations, and MCS will assume responsibility for CHS’ existing portfolio.
“The acquisition of CHS’ field services unit enables MCS to expand our industry footprint and increase our national presence and economies of scale,” says Caroline Reaves, CEO of MCS, in a release. “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 U.S.,” Reaves adds.
“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.”
The deal is expected to close before the end of this year.