Caroline Reaves, CEO of property services provider Mortgage Contracting Services, announced her retirement on Tuesday after leading the company for 14 years. While Reaves will be departing from one position at the company’s helm, the mortgage veteran is set to transition to MCS’ board of directors as its chairwoman.
According to MCS, this new role will allow Reaves to step away from her current day-to-day duties, while maintaining the continuity of the leadership team.
“While I will certainly miss the daily involvement with the business, I am so looking forward to this next chapter in my life with family, faith and friends,” Reaves said. “Having the ability to focus on those things while continuing to be involved in the business provides me with the best of both worlds, both personally and professionally.”
Reaves began her mortgage journey in 1991, where she served as the vice president of default servicing for nearly 13 years at MidFirst Bank. Afterwards, she would move on as president of default outsourcing at First American Title for several years and also served as the chairperson of the Mortgage Bankers Association’s Property Preservation Work Group and has been doing so for over 15 years.
By 2007, Reaves joined MCS as its president and was promoted to CEO two years after where she went on to help lead the company’s explosive growth from a one-office, 40-employee operation to a national presence with over 800 employees. Because of her contributions to the market, Reaves was also named a HousingWire Women of Influence in 2018.
Her successor has yet to be named, though she did reveal they are beginning an internal and external search for a new CEO. While that search continues, chief relationship officer Chad Mosley has been promoted to President of MCS.
Mosley served at the property services provider for 13 years and was previously the chief operating officer and senior vice president of business development before his promotion as CRO in 2019.
“This new structure will allow a specialized team to focus on more targeted development in this area, while ensuring that the field services business that has defined MCS for so many years remains successful,” Reaves said.
According to Reaves, she and Mosley have been working on this transition for some time. Mosley will effectively taking responsibility for the company on June 1, while Reaves will shift to her position on the board July 1.
“This is an exciting time for Caroline, and I want to thank her for all she has done for MCS, our clients and our team members,” said Mosley. “Her leadership has set a high standard, one we’re ready to follow.”
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