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MortgagePoint ยป Your Trusted Source for Mortgage Banking and Servicing News 22 April 2024 J O U R N A L MCS ACQUIRES FIVE BROTHERS ASSET MANAGEMENT SOLUTIONS M CS, a national property services company founded in 1986, announced it has acquired property preservation com- pany Five Brothers Asset Management Solutions. MCS's acquisition of Five Brothers creates a national property preservation and services company that combines complimentary business offerings to serve an extensive network of clients in the mortgage services and single-fam- ily rental sectors. Five Brothers will be integrated within MCS as the combined entity will offer superior property pres- ervation, maintenance, and renovation services throughout the country. "MCS has provided the highest standard of property preservation and related services for nearly 40 years, and the addition of Five Brothers elevates our capabilities and expands our resources even further," said Craig Torrance, CEO of MCS. "With a 50-plus year history of delivering property preservation services, Five Brothers brings its own extensive track record of delivering outstanding service, solutions and technology that compliments the MCS services plat- form. We're excited to bring together two strong company cultures centered around shared values and exceptional client servicing, along with a united commitment towards maintaining and beautifying neighborhoods across the country." Headquartered in Warren, Michigan, Five Brothers has offered a variety of regulatory-compliant default, rental, and REO residential and commercial prop- erty preservation services for over five decades, including services for the re- verse mortgage industry, which will be a new market for MCS. The family-owned company has built a nationwide network of field professionals delivering services designed to maximize asset value and Industry Update returns for owners, while leveraging technology to ensure compliant and efficient service delivery. Nickalene Badalamenti-Kalas, Pres- ident and CEO of Five Brothers, is very excited for Five Brothers to be joining forces with MCS to continue providing necessary and valuable nationwide field services, advanced technologies, and un- rivaled Reverse/Home Equity Conversion Mortgage (HECM) expertise to its clients. "We are bringing together two pur- pose-driven organizations with common goals and synergies that will continue delivering superior value to clients, while improving communities across the country," she noted. "Five Brothers is proud to join forces with the talented group of professionals within the MCS organization as we are well aligned in our business philosophy and culture. Our clients, field service partners and internal teams will greatly benefit from our col- lective experience and shared resources to provide reliably superior service." "We look forward to integrating the Five Brothers team of property preservation experts as we deliver the same outstanding customer experience their clients have enjoyed for decades," added Chad Mosley, President, Mort- gage Services at MCS. "The immediate focus of our combined teams is ensuring continuity for those clients by leveraging existing technology and providing ongo- ing operational support." ANGEL OAK DELIVERS SOLUTIONS FOR INSURANCE COMPANIES SEEKING RESIDENTIAL MORTGAGE CREDIT EXPOSURE A ngel Oak Capital Advisors LLC, an investment manage- ment firm that specializes in value-driven structured credit investing, announced the launch of its specialized insurance solutions initiative designed to give insurance companies access to