Lewisville, Texas-based Mortgage Contracting Services, which provides property preservation services, inspections, REO property maintenance and valuations for the financial services industry, acquired the property preservation division of Carrington Home Solutions.
Under the acquisition, MCS will be responsible for inspecting and maintaining CHS’ existing portfolio.
CHS’ property preservation operations will also 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, CEO of MCS. “Through our work with CHS in the past, we applaud the business they built.”
The transaction is expected to close before the end of 2017.
Over the past several years, MCS has continued to expand its portfolio of services and capabilities through acquisitions. About a year ago, the company announced it acquired Lenders Title Solutions, which is based in Clearwater, Florida and provides title insurance and settlement services.
And shortly before that, MCS acquired EPIC Real Estate Solutions.
Financial terms of the deal were not disclosed.