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» VISIT US ONLINE @ DSNEWS.COM 89 and valuations for the financial services indus- try, announced that it is celebrating its 30th year of business operations. MCS was founded in 1986 in Tampa, Florida and has grown steadily and adapted to a dynamic and evolving marketplace. e company has over 750 employees at three sites: Tampa, Florida; Ruston, Louisiana; and Plano, Texas, which became the company's headquarters in 2007. Over the years, MCS has navigated mas- sive economic shifts and blossoming regulatory requirements, according to the announcement. "MCS has been at the forefront of innova- tion in the mortgage servicing field during times of growth and turbulence, and our success is a real testament to our leadership team," said Caroline Reaves, CEO of MCS since 2009. "It's an honor to lead a company doing important work preserving communities around the country for our clients." A few highlights of the company's growth over the years includes: » e 2012 opening of its operations center in Ruston. » In 2014, that facility doubled in size and can now accommodate up to 180 employees. » Also in 2014, the company expanded into appraisal and valuation services through the acquisition of MCS Valuations. MCS has protected and preserved com- munities across the nation for 30 years. Some of the largest and most respected banks and mortgage servicers in the industry trust MCS to perform property inspections, property pres- ervation, REO property maintenance, valua- tions and other default-related services in all 50 states. MCS has a history of providing these services in a highly regulated environment, the proven ability to handle large volumes of prop- erties, and a record of recruiting, managing and monitoring a substantial vendor network. MERS Adds to String of Victories e string of legal victories for Mortgage Electronic Registration Systems (MERS) continued on Monday with the announcement from parent company MERSCORP Holdings that a court in Dallas, Texas, had ruled in MERS' favor recognizing the company's right as beneficiary to notice of a lawsuit under both the U.S. and Texas Constitutions. In the case of Mortgage Electronic Reg- istration Systems, Inc. v. Summit Residen- tial Services, Summit Residential Services acquired an interest in a property following an HOA foreclosure sale, and in 2002, the property was encumbered by a deed of trust granted by the borrower to MERS. Summit filed suit seeking clear title to the property, and in the suit it named only the original lender identified in the MERS deed of trust. MERS was not provided with notice of the action, nor was it named in the action. Summary judgment was granted to Summit which extinguished the MERS lien in April 2014, and MERS promptly filed its own lawsuit seeking to reinstate its lien. In its suit, MERS contended that it could not be deprived of its protected property without an opportunity to be heard under due process guaranteed by both the U.S. and Texas Constitutions. e Dallas County District Court, 101st Ju- dicial District, agreed with MERS and entered a Final Judgment vacating Summit's judgment and reinstating MERS' lien on the property. "is judgment confirms that MERS is a necessary party to any lawsuit affect- ing property interests when MERS is the mortgagee or beneficiary of record. As such, MERS has a constitutionally protected right entitling MERS to notice of the lawsuit," said MERSCORP Holdings VP for Corporate Communications, Janis Smith. "MERS will vigorously defend its constitutional and statu- tory right to notice." MERS won a number of court deci- sions just since the second half of 2015 in cases that challenged its right to act as mortgagee. In late September, MERS won decisions in Montana, Georgia, New York, Kentucky, Tennessee, Pennsylvania, and Texas. In Janu- ary, MERS won its first decision of 2016 in the New Hampshire State Supreme Court. CalyxSoftware Enhances Its Product and Pricing Engine CalyxSoftware, a provider of comprehen- sive mortgage software solutions for banks, credit unions, mortgage bankers, wholesale and correspondent lenders, and brokers, recently announced that it has developed separate versions of its Pricer Product and Pricing Engine for portfolio lenders with their own rate sheets (Custom Pricer) and originators looking for investor pricing sup- plied by Calyx (Investor Pricer). e new, separate versions, used with Ca- lyx Point, eliminate multiple logins, loan program templates, and the need to rekey data. In addition, the bidirectional data flow simplifies processes and improves accuracy and efficiency. Users are able to locate the best deals for their clients, see the street price for borrowers, and lock or float rates and their loans. "Having all loan products in one place, with the ability to check the loan levels for each and see any adjustments, keeps our team on track at all times," said Bob Dougherty, VP of Mortgage Operations, Merchants Bank, N.A., who has used Pricer for years. "Pricer has sped up production and reduced errors, which helps our originators be more efficient and profitable." Loan originators can price scenarios in- stantly and correctly in both versions without using paper, and only eligible rate cards and programs are visible to users. Rate and fee information, including Loan Level Price Adjustments, are automatically imported into loan files. Pricer also sends, tracks and preserves every rate quote and lock request. "e latest enhancements to our Pricer solution are designed to better match the specific needs of both buyers and sellers in today's more complex, post-TRID, post-QM market," said Dennis Boggs, EVP, Calyx- Software. "Our product and pricing engine gives originators the broadest view of what is available." THE LEADER IN DEFAULT SERVICING NEWS Help shape the next issue of DS News. Drop us a line at Editor@DSNews.com.

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