Mortgage Contracting Services launches photo inspection capability
Mortgage Contracting Services, a provider of property preservation, REO property maintenance and inspections to the financial services industry, has added photo inspection services to its mix of services. MCS’ photo inspection capabilities are expected to assist in appraisals for valuation providers, substantiation of insurance policies, confirmation of a property’s existence and condition and fulfillment of re-certification or due diligence requirements for origination and servicing shops. MCS said it expects to provide quick turnarounds and cost-savings to its clients while providing a nationwide network of inspection subcontractors who will be able to provide services where coverage by local field services companies is spotty. Photos inspections have long been an issue in the REO industry as companies have sought to provide fast and accurate turnarounds. At June's REO Expo in Dallas, Pruvan, a service record technology provider, released a new photo management software to provide real-time certification of photos. The software uses GPS certification and a time-stamping function that allows field crews and office staff to upload and manage proof-of-performance photos. Write to Kerry Curry.