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6504 International Parkway Suite 1500
Plano, Texas 75093
MCS was founded in 1986. Our services include property inspections, property preservation, REO property maintenance, valuation services and more. The success of MCS is the result of our continuous focus on building long-term relationships with mortgage se ... more
Vice President, Client Initiatives
First American Field Services
Director of Client Initiatives
Government Liaison Committee
The National Association of Mortgage Field Services , Inc.
Bachelor of Arts
industry relations and speech communication
University of North Carolina
Mortgage Contracting Services
USFN Loan Management and Servicing Seminar Summary
The potential risks to servicers are clear.
Shops that opt for a conservative tack by moving and storing the property have no guarantee that HUD will reimburse them for the associated costs. (HUD representatives at the National P&P Conference said that automatic reimbursement for storage costs would be taken into consideration.) The other extreme - to treat all property as debris and trash it - poses obvious headline risk.
In turn, servicers are simply being more cautious when they review property-preservation companies' documentation and eviction photos, Hager says, explaining that most of MCS' clients provide a matrix detailing how they want to address personal property, based on a variety of scenarios.
The decision to trash or preserve is informed by several factors, including the estimated value of the personal property and the location of the real estate.
"Most servicers are having to expend additional time to review photos and make case-by-case decisions based on the possessions that are remaining in the property," says Hager.
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