*New Due Diligence Arm Forms*
**By Tony Garritano**
***Wingspan Portfolio Advisors, a Dallas-based diversified mortgage services provider, has launched its due diligence, servicer surveillance and high-touch default advisory services arm from out of its new Denver, Colorado office. The new office and management team will significantly enhance Wingspan’s capabilities in these industry service sectors, which are becoming increasingly critical for lenders and servicers in the demanding regulatory environment.
****The Denver addition is the latest in a busy expansion year for Wingspan. In February, the company acquired the JPMorgan Chase servicing facility in Melbourne, Florida, and in May, it purchased San Diego and Dallas-based insurance claims management firm Dimont & Associates. Last month, Wingspan acquired a 400-person customer service facility from JPMorgan Chase in Monroe, Louisiana. Wingspan has grown to more than 2,000 employees in 2013 with these new additions and has substantially diversified its capabilities for the mortgage industry.
****The new Wingspan Denver offices will provide due diligence, forensic file review, valuation services, single-family rental oversight, as well as a full range of default and post-acquisition support services on a national basis. Ryan Lilly, one of the founders and former president of AMRE Solutions, will lead the expansion of this division and has been named senior vice president for Wingspan Portfolio Advisors.
****“With this addition, Wingspan now has offices in Texas, Florida, Louisiana, California and Colorado,” says Wingspan Portfolio Advisors CEO and President Steven Horne. “Our servicers and investors benefit from a full range of services for all their distressed loans and REO, along with complete loan fulfillment and other capabilities through Wingspan Lender Services. Wingspan clients now have all of the key resources they need for every aspect of their businesses and no longer have to worry about scaling up or down for volume fluctuations, with all of the attendant costs,” Horne notes. “We’ve got them covered.”
****“Wingspan is the perfect environment for our due diligence services,” says Lilly. “Our diligence platform was built to be the best at its business, whether in foreclosure management, rental oversight, due diligence, underwriting support and valuation, or in related technology. We are proud to now become an integral part of the industry’s best provider of diversified services for lenders, investors and mortgage servicers, bringing our special expertise to Wingspan’s impressive array of offerings.” Continues Lilly, “With continued delays in foreclosure timelines and an increase in secondary market activity, Wingspan is poised to offer traditional support along with innovative loss mitigation strategies. The Denver team looks forward to playing an essential role in Wingspan’s remarkable success story.”
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at firstname.lastname@example.org.