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MCS Appoints Lorne DeFour as Director of Quality Assurance Compliance

The increase in foreclosures and REO properties has made it virtually impossible for servicers to keep up with the different compliance regulations, which can differ at the federal, state and city levels. According to DeFour, property preservation can significantly impact financial and regulatory risk, and it is paramount to have processes and procedures in place to protect the value of assets during all stages of delinquency and default. "It is vital to assure our customers that we are operating efficiently and effectively to protect their assets. Having a system-wide process, and a dedicated compliance officer, ensures our consistency and regulatory compliance," said DeFour.

"With increasing inventory, field service providers must have robust quality control systems in place to discover where process improvements can be made to identify potential risks and minimize losses," said Allan Martin, CEO of Mortgage Contracting Services. "Lorne's experience in various aspects of compliance brings tremendous depth to our quality assurance department, and we look to him to make a significant - and immediate impact for our clients."

Prior to MCS, DeFour worked in several divisions of Countrywide Financial, most recently in the compliance department, where he conducted compliance audits, system access and loan level fee review. DeFour worked with senior management on the identification and implementation of newly passed legislation as it pertained to the servicing of loans in foreclosure and bankruptcy. In addition, he managed compliance on research and the implementation of new corporate policies and procedures.

About Mortgage Contracting Services

Founded in 1985, MCS is a national property preservation company. Services include property inspections, property preservation, REO property maintenance, hazard claims administration and valuation services. Working for some of the nation's largest servicers, MCS is recognized as the most efficient and effective inspection and preservation company in the market, having built a reputation as a result of focused-based performance, specialized service and consistent service excellence.

    For more information, please visit www.mcsnow.com .

    MEDIA CONTACT:
    Jennifer-Robyn Meier
    Mortgage Contracting Services
    678.336.6540

SOURCE Mortgage Contracting Services