Mortgage Contracting Services is acquiring CoreLogic’s Collateral Solutions and Field Services business units.
The acquisition expands the MCS suite of mortgage services to include valuation products in both the default and loan origination sectors and also represents a significant expansion of its already strong representation in the property preservation industry.
MCS is owned by Concentric Equity Partners. HousingWire reported on the rumors last week.
“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 MCS CEO Caroline Reaves. “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.”
The Collateral Solutions unit, based in Sandy, Utah, will remain in its current location and MCS has no plans to change its management team or operational structure, Reaves says.
The Field Services unit, which is based in Westlake, Texas, will be combined with the MCS operations in Plano, Texas.