Steve Paton Joins MCS

Industry veteran brings more than 27 years experience to mortgage field service company

TAMPA, Fla., Mar 10, 2010 - Mortgage Contracting Services (MCS), a nationwide property preservation and inspection services provider to the financial services industry, announced today the addition of Steve Paton as senior vice president, to be responsible for the oversight of Tampa operations and vendor management. His diversified operational and financial executive management experience includes default servicing, loss mitigation, REO, call center and collections.

Paton most recently was senior vice president of loan administration at Marix Servicing, where his involvement varied from vendor on boarding and contract negotiation to process design and technology deployment. Prior to Marix, Paton spent time with Chase Home Finance as senior vice president of default loan servicing. In that role, he re-engineered FHA servicing-related functions, managed more than $100 million in vendor associated expenditures and developed an operational response to the challenges brought on by Hurricane Katrina. Paton has experience in other aspects of mortgage servicing related activities, including involvement in homeownership preservation and the management of high-risk properties to minimize the risk to the public and investors.

"Steve's industry insight and relationships will be a valuable addition to the MCS management team's efforts in growing the company through business development and excellence in service delivery," Caroline Reaves, CEO of Mortgage Contracting Services, said. "He will be a driver in the combined presence of Dallas and Tampa operations."