As predicted by Foreclosurepedia, Mortgage Contracting Services (MCS), a suite of Mortgage Field Services under the banner of ASP MCS Acquisition Corporation, defaulted on their interest payments as reported by Moody's. ASP MCS Acquisition Corp. was formed by American Securities LLC to facilitate its acquisition of MCS Group Subholdings, LLC ("MCS"). MCS provides property inspection, appraisal and preservation services on behalf of lenders and loan servicers for homes with defaulted mortgage loans.
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