"This is a carve-out of the mortgage division within MCS. The mortgage division represents about 75% of the total business. And so the way we approached this originally was looking at their focus on growing other business segments within MCS specifically single-family rental (SFR) and commercial contracts, as well as some government contracts so less focused on mortgage and those silos."
"And so we said, Look, you've stood up a business here that's generating meaningful revenue in only two short years. Let us help you carve out the mortgage division, because there's a lot of demand.' That message really resonated well with the current shareholder base, and that was why we were hired to do that. We spent the last four or five months running a very bespoke process and that was essentially why we got the mandate."
The transaction is a carve-out of MCS's mortgage division, which accounts for roughly 75% of the company's revenue. MCS has been shifting focus toward single-family rental, commercial contracts, and some government work, making the mortgage business a logical standalone asset. The mortgage unit operates with its own org chart, proprietary technology platform, and standalone P&L, enabling a turnkey transition for strategic buyers. Advisors ran a bespoke four- to five-month process aimed at maximizing valuation and finding a suitable buyer. Stewart viewed the acquisition as an opportunity to expand into property inspections, maintenance, and access customers across top loan servicers.
Read at www.housingwire.com
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