Mortgage Contracting Services [1] announced Tuesday that it has reached an agreement to acquire the Miami-based M&M Mortgage Services. [2]
“Integrating M&M with MCS allows us to expand our operations in Miami and strengthen our vendor network nationwide,” said Caroline Reaves, MCS CEO. “We are excited to welcome M&M’s employees so that we can combine MCS’ industry-leading experience with the passionate commitment that M&M pursues with each of its clients.”
Armando Sanz, M&M’s VP of Operations, will be joining the MCS management team to over the Miami office, overseeing the integration of M&M’s existing portfolio.
“Adding a great business such as M&M Mortgage Services allows us to continue our pledge to clients to improve mortgage-related processes, build innovative technical solutions, and deliver on quality using the best people from the communities where we operate,” Reaves said.
"Mortgage Contracting Services and M&M Mortgage Services are two long-standing, trusted leaders in property preservation. It makes sense that their ideals align for this acquisition; I applaud the strategic move to better serve their clients, and our industry,” said Ed Delgado, CEO and President of Five Star Global.
MCS, based in Lewisville, Texas, is a national mortgage services company that provides property inspection, property preservation, REO property maintenance, and other mortgage-related services.
"Combining the outstanding client focused capabilities of M&M Mortgage Services with the advanced technology and scale of MCS will enable superior service delivery to our new clients. While mortgage defaults are at historic lows, MCS has focused on improving efficiency while perfecting our service delivery,” Reaves told DS News. “At the same time, expanding our customer base and growing market share has been and will continue to be a priority. We are very excited about this transaction as it further strengthens the MCS brand and provides benefits and opportunities for our clients, employees, and stakeholders."