In this DS News Executive Spotlight, we shine light on the accomplishments of Caroline Reaves, CEO of Mortgage Contracting Services (MCS). Reaves has been in the industry for over 30 years, driving advancements not only at MCS but across the industry as a whole.
Reaves recently had the opportunity to reflect on some of her accomplishments at her alma mater, Louisiana Tech University (LTU), when on February 25 she was inducted into LTU’s Hall of Distinguished Alumni and given the University’s Tower Medallion. Reaves was recognized as the Hall’s 78th member, an honor given to alumni who have distinguished themselves through exceptional leadership, humanitarian effort, and community service.
“I have so much pride in being an Alumni from Louisiana Tech,” said Reaves. “It is truly an honor to be recognized by such a great institution, and equally awesome to be able to grow our company in such a great city supported by the university.”
Through this accomplishment, Reaves was able to share with the commencement audience—some of whom may be tomorrow’s business leaders—how she got to where she is today. Reaves recounted the journey that started with her time walking the halls at Louisiana Tech, where she graduated in 1985 with a B.A. in Business Economics, to moving to Oklahoma City to begin her professional career in the Commercial Loan Department of Friendly Bank. After her time at Friendly Bank, she served as the VP of Default Servicing at MidFirst Bank from 1991 to 2004, and as the President of Default Outsourcing at First American title from 2004 to 2007.
Reaves became COO of MCS in 2007, and was promoted to CEO in 2009. During her time as CEO, Reaves has expanded the company from 40 employees located in one office to over 800 employees in offices all over the country. During her tenure, corporate revenue has increased by over 300 percent.
“Caroline Reaves has been a truly transformational leader within the field services industry. Her ability to scale MCS while maintaining a laser focus on both its customers and employees is remarkable,” said Jennifer Steans, CEO of FIC and former Chairperson of MCS. “She has served as a role model not only to me but to many young emerging leaders both within MCS and the broader industry.”
Throughout her career, Reaves has received numerous awards for her hard work and dedication to the industry. Among these awards are, Ernst and Young’s Entrepreneur of the Year Finalist, DS News' Leading Ladies in Housing, and Dallas Business Journal’s Women in Business Honoree.
Reaves and her husband, Mark, have five children and nine grandchildren, splitting their time between Texas and Arizona.
“Caroline is someone that’s easy to admire. Her insight and no-nonsense approach to problem-solving has been a key element in her success and the valuable services that she provides to the industry,” said Susan Milazzo, Executive Director of California Mortgage Bankers Association. “Caroline has blazed a trail for women in the mortgage industry, from both a business and personal standpoint. While she pours her all into MCS, her family always comes first. She is someone who recognizes what is truly important in one’s life and manages to balance both in harmony.”