Mortgage Contracting Services, a property preservation and inspection services provider to the mortgage industry, promoted Caroline Reaves as CEO of the company, according to a corporate release. In 2007, Reaves joined MCS as president of MCS Asset Management and in the same year became president and chief operating officer of MCS Field Services. Before her move to MCS, Reaves spent three years with First American Corp. (FAF) as president of its national default outsourcing division, and she served as vice president of default for Midland Mortgage Co. where she managed foreclosure, bankruptcy, property preservation and real estate-owned (REO). The promotion follows the resignation of MCS’ former CEO Allan Martin, who was with MCS since January 2003 and was appointed to vice chairman of the board. “I have the utmost confidence in Caroline’s ability to lead MCS. With nearly 25 years devoted to this industry, she has a wealth of knowledge in a number of areas of the business, and her contributions to MCS’ collective success have been numerous and significant,” Martin said. Write to Jon Prior.