Stewart to acquire Mortgage Contracting Services

SISCO Holdings, a subsidiary of Stewart Information Services Corporation (NYSE: STC), has agreed to acquire the mortgage services business of Mortgage Contracting Services ( MCS ) for $330 million, marking Stewart’s expansion into property preservation.

The deal includes all operations and technology supporting mortgage servicers and lenders in property maintenance and default servicing. MCS, a nearly 40-year-old provider of property preservation solutions, will continue to operate as a standalone company following the acquisition.

“We are pleased to announce our intent to acquire MCS and look forward to being able to offer property preservation, which supports default servicing, as a new service for our lender and servicer customers. This acquisition confirms our dedication to bettering our lender services and allows us to introduce our products and services to a broader audience of customers. MCS is a well-respected leader in the industry, and our shared vision of excellence makes MCS a perfect addition to our Real Estate Solutions business.” – Stewart Title  CEO, Fred Eppinger.

Separately, the residential market remains at 15-year lows, with existing home sales hovering around 4 million annualized units. Stewart reported net income of $44 million on $797 million in revenue, driven by growth across its title, commercial, and agency services businesses. Agency revenue rose 28%—notably in Florida, Texas, and New York—while commercial revenue increased 17%.