Mobile technology,
operations and quality assurance improvements contribute to
expansion and
strategic industry advancement
Mortgage
Cont
racting
Services
(MCS), a nationwide property preservation and inspection services
provider to the financial services industry, announced that 2009 was a
pivotal year in continuing operations to further assist its clients in
rebuilding communities across America. These efforts varied from prominent
executive changes to improvements in operations and vendor management
procedures, as well as expanding its technology’s functionality and
enhancing quality assurance and business security performance.
Caroline Reaves, CEO of Mortgage Contracting Services, explained, “The
industry in which we work is by no means static, but rather ever changing in
so many regards. It is our responsibility to provide clients with innovative
solutions for mitigating financial risk and preserving the integrity of our
neighborhoods.”
One
of the most noteworthy changes occurred late in 2009 when Reaves, who has
more than 25 years in the industry, was named CEO. She joined MCS in October
2007, and has already made significant strides in furthering MCS’ role in
the default sector, entering new arenas and identifying opportunities for
growth. Equally notable is the fact that the company also made 12 other
executive level promotions in 2009, and added three senior executives each
averaging 18 years in servicing and banking. MCS has built a management team
with more than 180 years combined experience in these industries, rivaling
that of any field preservation company.
Throughout the year, MCS also continued providing its clients with
personalized technology solutions, allowing them to spend less time worrying
about field services and more time focusing on aiding troubled mortgagors.
The company successfully integrated its automated workflow application,
MCS360, with NetDirector’s occupancy verification interface to
electronically give an occupancy verification
status to the
attorney or trustee without human intervention. In doing so, MCS
distinguished itself as the first field preservation company to establish
this direct connection with attorneys.
Additionally, MCS
launched a mobile technology platform enabling inspectors to upload
information, particularly photo images, from the field in real-time.
This is only one of more than 400 system enhancements the
company migrated in 2009 to better configure MCS360’s functionality to each
client’s unique business needs.
Accompanying the advancements to its IT platform, MCS also made significant
progress in expanding its quality assurance efforts. As legislative changes
in 2009 on both local and national levels prompted quality assurance
improvements to ensure the most accurate monitoring and minimize client
risk, MCS increased vendor and internal quality audits 500 percent. By
conducting a greater volume of contractor audits, MCS can measure
performance and assure its clients of consistent, timely execution. To
further this effort, MCS implemented satellite imagery for visual,
up-to-date assessments of property conditions.
Vendor management was critical in 2009 as well due to servicers’ mounting
inventories. MCS responded by doubling its vendor capacity, which enhanced
the coverage and timeliness of its contractor network’s performance. MCS
also took the quality of performance into consideration in 2009 and extended
its vendor training program, creating an entire team devoted to vendor
management and implemented a vendor mentoring program to streamline the on
boarding process without sacrificing knowledge of procedure and policy.
Several classes were added to the vendor curriculum, as well as the
introduction of live vendor support.
Reaves continued, “Through almost three decades, MCS has maintained a
scalable infrastructure enabling the company to support any client,
regardless of its size. We can adapt to their evolving needs for technology,
customer service and capacity. Our unprecedented accomplishments in 2009
have positioned us to take on the increasing challenges of rebuilding
communities in 2010 and beyond.”
